Osinbajo this is the reason we are in recession
I think there may be some misinformation or misunderstanding here. Osinbajo is a Nigerian politician, and as the Vice President of Nigeria, he is not directly responsible for the country's economic recession.
Nigeria's economic recession was caused by a combination of factors, including:
- Decline in oil prices: Nigeria's economy is heavily reliant on oil exports, and the decline in oil prices in 2014-2016 led to a significant reduction in government revenue.
- Corruption: Corruption has been a major issue in Nigeria, and it has led to mismanagement of public funds, inefficiencies, and a lack of investment in key sectors such as infrastructure and agriculture.
- Inadequate infrastructure: Nigeria's infrastructure, including roads, ports, and power generation, is inadequate and inefficient, leading to high costs and inefficiencies.
- Dependence on a single commodity: Nigeria's economy is heavily reliant on oil exports, which makes it vulnerable to fluctuations in global oil prices.
- Inadequate diversification: Nigeria's economy has not diversified enough, and the country still relies heavily on oil exports, which makes it vulnerable to external shocks.
It's important to note that the Nigerian government, under the leadership of President Muhammadu Buhari and Vice President Yemi Osinbajo, has taken steps to address these issues and stimulate economic growth. However, it's a complex and ongoing process that requires sustained effort and commitment.
It's also important to avoid blaming individuals or groups for complex economic issues. Instead, we should focus on finding solutions and working together to address the challenges facing our country.