Tue, Oct 03, 2023

You must serve the common good, Osinbajo tells political leaders

You must serve the common good, Osinbajo tells political leaders

The Vice-President, Yemi Osinbajo, has called on political leaders to commit themselves to act collectively and individually in ways that can alter the ways things are done in Nigeria for the common good.

Osinbajo gave the advice on Thursday when he met with a delegation of the House of Representatives in his office to discuss the economy and, particularly, possible ways of taking  Nigeria’s economy out of recession.

The legislators, who called on the Vice-President were members of the House of Representatives Tactical Committee on Recession, led by its Chairman, Bode Ayorinde.

He said leadership was a call to service.

“How many people will get this kind of opportunity we have to lead? The opportunity to serve is one that must be taken seriously and used for the common good.

"it is in our interest to deal with corruption.

“This is not moralising, it is an existential threat, it a survival issue, we need to address the fundamentals of that abnormality, if we do not address it, no matter what we say, things won’t work.

“I think it is very important, especially for us who are in government today either as legislature or executive.

“We have to address this issue, it is a fundamental issue, everywhere in the world, even where they do not have the problems we have, they are addressing the issue.

“So we must address it and it is everywhere, look at foreign exchange and you can identify the problems, you fix the rate of foreign exchange at the rate it is and you know what the black market is.

“Look at the arbitrage which is so large, there is bound to be corruption, it is impossible for there not to be corruption.’’

Osinbajo offered hope that the monetary and fiscal policies were being harmonised.

“we are constantly in discussion with the CBN on how to reduce interest rates.’’

Responding to issues of revenue allocation, Osinbajo stated that emphasis must shift from ‘sharing’ to generating more revenue internally, including in the states.

He said the federal government was actively exploring options on how best to liquidate the debts owed contractors across the country, including the option of using bonds.

In his remarks, Ayorinde said some of the committee’s areas of concern included the foreign exchange policy and its impact on manufacturing and called for a review.

He said the Tactical Committee was ready to interface with the Economic Management Team.

He also commended the team for its efforts to revamp the economy including the recently released Economic Recovery and Growth Plan.


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