The Vice-President Prof. Osinbajo has disclosed that the current administration spent N1.3 trillion in 2016 executing capital projects in the country.
Prof. Osinbajo made this disclosure on Monday at the 2017 NBA Conference tagged “African Business: Penetrating Through Institution Building” which held in Lagos
According to him “The Federal Government spent about N1.3tn on capital projects in 2016, the highest in the history of the country” He also said the power sector reform is also ongoing as it is one of the most important sectors in the country.
While responding to questions during his session, the Vice-President also said the current administration was working hard to set in place a solid base for the economy so as to facilitate growth.
He said “We have set a foundation of rebuilding the economy, creating the Single Treasury Account, monitoring government’s spending, modifying the tax system to be more efficient and implementing executive orders”
He also said “For the economy, we are going to see a tripling in the harvesting of rice, prosperity is returning to some states like Kebbi and Zamfara.
“The rural areas where the highest level of poverty is experienced, there is a turnaround as the highest number of people who went for 2017 hajj were farmers.
“There is a lot of export of agricultural products, what we need to do is to engage in more value-added exports and we have quite a few investors”
Prof Osinbajo also said the Buhari administration is positively harnessing technology to fight corruption.
He said “We have introduced technology in a lot of processes. For example, company registration with the Corporate Affairs Commission (CAC), the less human contact, the less incidences of corruption”
The Vice-President further stressed that the government was working towards creating a bright future for the country.
Osinbajo said “We are improving the economy, the electricity sector, manufacturing as well as the growth of the business environment.
“We are committed to running a government that is efficient, serves the people and sensitive to the Nigerian people.
“These are the projections that we make, the future is certainly bright for the country.”