Extreme poverty in Nigeria gives me sleepless nights-VP Osinbajo

Osinbajo disclosed this at a dinner and Interactive Session

Vice President Yemi Osinbajo says the hassle of excessive poverty in Nigeria continues him up at night time.

Osinbajo disclosed this at a dinner and Interactive Session with Faculty Members, Harvard Business School (HBS) on Tuesday in Lagos.

The vice chairman featured along Srikant Datar, Professor of Business Administration (HBS), and Bayo Ogunlesi, a Nigerian investment banker at a question and solution consultation moderated with the aid of Hakeem Bello-Osagie, Chairman of Metis Capital Partners.

“I think what continues me up at night has to do with excessive poverty; the issue is that the most important quantity of those who vote for us are very terrible.

“The guarantees that authorities make to them is that their lives will be higher and obviously they’re looking at their lives being better within the shortest feasible time.

“I will want to see Nigeria being an industrialised state within the subsequent 10 years; a very robust middle elegance and the general public dwelling above the poverty line,’’

Osinbajo stated that numerous authorities guidelines have been thinking of people at the bottom of the pyramid with a focal point on agriculture and getting credit score facilities to farmers if you want to achieve self-sufficiency.

He stated that many farmers inside the USA were lifted out of poverty by using this administration.

According to him, a variety of attention had also been given to the Social Intervention Programmes (SIPs) which factored the provision of cheap credit to petty traders at the bottom of the pyramid.

The vice chairman told the HBS that Nigeria became open to business with its various potentials and advised Nigerian traders abroad to appearance homewards.

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“If you’ll do enterprise anywhere in Africa, it must be Nigeria.

“This is wherein you have got the strength; you’ve got the power.

“We are already seeing that kind of activity; business people will always be driven by profit.

“Talent will always go in the direction where it is best rewarded; one can’t afford to be sentimental about that.

“As people see that the environment is getting better for business, they will come back; the opportunities for making huge profits are here.

“Practically everything we are doing in to ensure that there is environment for business to thrive. People are leaving but people are coming back.’’

He said that the Federal Government, through the Special Economic Zones (SEZ) was encouraging the manufacturers.

The vice president said that the government was looking at natural economic clusters and had set up shared facilities and power.

He said a lot was going on the agro-allied sector and of course, resolving the power challenges.

“In the next few months, we will unveil a plan that deals with most of the critical issues in the power sector,’’ he said.

On climate change, Osinbajo said that the momentum was in favour of renewable energy and Nigeria was doing a lot of investment in renewable energy; solar power and opening up opportunities.

On his part, Datar said he was particularly proud of Osinbajo as an academic in governance, adding that academics provide enabling environment for good governance.

He pledged HBS’s support in providing needed support for human capital development in Nigeria and proffering solutions to tackling Nigeria’s infrastructure challenges.

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Speaking, Ogunlesi said that the era of depending on government for infrastructure was gone, adding that the Federal Government had no business running infrastructure in Nigeria, especially the airports.

In a vote of thanks, Emir of Kano, Alhaji Muhammadu Sanusi 11, called for urgent action to address the high poverty rate in Nigeria especially in the North West.

He also advocated for a committee on girl-child education to boost enrolment in schools and uplift their living standards.

The event also attracted Lagos State Governor, Mr Babajide Sanwo-Olu, US Ambassador to Nigeria, Mr Stuart Symington, immediate past Minister of Trade and Investment, Mr Okechukwu Enelamah, immediate past Minister of Budget and National Planning, Sen. Udoma Udo Udoma among others.

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