- Vice President Yemi Osinbajo has reacted to the ongoing discussion surrounding the suspension of the national carrier project
- The vice president said the setback was as a result of lack of financial buoyancy to sustain the project
- Osinbajo also revealed that the decision to suspend the project is to allow private sector manage the national carrier
Following the setback that deluged the much-celebrated national carrier, the vice president, Professor Yemi Osinbajo, has given an insightful explanation as to why the project was still far below the country's expectation.
Speaking during an interactive session in Lagos organised by Christian leaders and youths and tagged ''The Grill,'' Osinbajo cleared the dust surrounding the federal government's decision to suspend the project in the wake of commendation it initially garnered, The Guardian reports.
Legit.ng gathers from the professor of law that the suspension was to allow private-sector management of the proposed national carrier.
He said: “We didn’t want another airline that would be run by the government. Several international companies and local investors have come together and are planning to run the airline and carry the Nigerian flag.
"Nigeria is one of the most lucrative places for airline business in Africa and the airports must also be run professionally.
“And that is why we are also trying to concession the airports. So if we concession the airports and have Nigeria Air, it will be much easier for the nation to be Africa’s hub in the aviation sector.”
On the current economic woe of the country, the vice president added: “From 2010 to 2014, Nigeria earned the highest amount of money ever, $383 billion, and that was when we had our best exchange rate.
"One barrel of oil was sold above $100. By May 2015, the price of oil fell to $28. So, there was a sharp drop in foreign exchange.
“The first strategy we adopted was to import less. If we focus on local production, our country will not only create jobs, but also have all the foreign exchange issues reduced.”
Osinbajo also noted that apart from the prevailing economic crisis inherited from last administration, insurgency in the northeast region of the country posed a great challenge to the President Muhammadu Buhari-led administration.
He, however, added that with the cooperation of the security forces and the financial support of the presidency, Boko Haram, which had already taken over 17 communities in the Borno, has been wounded and rendered a toothless bulldog.
He added: "Today, they are just in Borno border. The Nigerian Army has contained and restricted them to where they are now.
“We also have a threat of ISIS West Africa and we are working with neighboring countries to prevent their incursion. The purchase of weapon is also political.
"You can’t buy war equipment from Brazil for instance, without the United States.”
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Meanwhile, Legit.ng had reported that Yemi Osinbajo on Monday, January 21, blamed the current poor state of the nation on certain irresponsible leaders.
He spoke in Ado-Ekiti during his official visit to inaugurate the TraderMoni scheme, an initiative of the federal government.
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