8 IMPORTANT things we learned from Osinbajo's May 1 speech

8 IMPORTANT things we learned from Osinbajo's May 1 speech

With President Buhari conspicuously absent and silent on May 1, 2017, Yemi Osinbajo gave a speech at The Platform, parts of which generated a lot of conversations among Nigerians.

Below are 10 things he mentioned in the speech:

1. Economy improvement

According to Osinbajo, there is light at the end of the tunnel for the Nigerian economy. He said: "Inflation is slowing; government revenues are being boosted through fiscal discipline and tax reforms; fiscal, monetary, FX and trade policies are being aligned."

2. Rice

Speaking on food, he said that through the CBN’s Anchor Borrowers Program the Federal Government has been able to provide financing for the production of about 5 million tons of rice so far. The goal is for Nigeria to produce all its rice locally by the end of 2018.

3. Fertilizer

The Vice President said: "By improving fertilizer supply, and fertilizer application methods, farmers have seen crop yields double from 2 tons per hectare to 4.5 to 5 tons per hectare up to 9 tons per hectare in some states."

Yemi Osinbajo speaking at The Platform

Yemi Osinbajo speaking at The Platform

4. Fertilizer price

He also said the government had improved fertilizer prices. "Fertilizer is now N5,500 per bag, roughly half its usual price, thanks to the Presidential Fertilizer Initiative ," he said. Which has also so far created 50,000 direct jobs and 120,000 indirect jobs.

READ ALSO: Osinbajo disagrees with Lai Mohammed as he rates Nigerian jollof rice

5. Ghost workers

He also praised the improvement in the civil service. The Federal Government has registered 60% of civil servants on the Integrated Personal Payroll Information System (IPPIS), and removed 58,350 ghost-workers from the payroll, resulting in savings of N92.47bn between January 2016 and April 2017.

6. Agriculture

Professor Osinbajo also explains that one of the key ambitions of the Muhammadu Buhari administration is to ensure that Nigerians grow what we eat and make what we use.

The Federal Government has set aside N50bn for improving existing Special Economic Zones and establishing new ones, to support industrialization.

READ ALSO: Declare office of the president vacant and swear in Osinbajo as acting president – Adegboruwa tells Senate

7. Business registration

Through the reform work of the Presidential Enabling Business Environment Council (PEBEC), the Corporate Affairs Commission (CAC) is implementing reforms that have made the process of business registration easier and faster.

8. Power supply

To improve power supply, the Federal Government has approved N701bn as payment guarantee to Generation Companies and Gas Producers.

Below are some reactions to his speech:

NAIJ.com recently made a video of Osinbajo flagging-off a project. Watch the video below:

Source: Naij.com

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