Vice President Yemi Osinbajo has identified prolonged delays in national budgeting procedures and elongated procurement processes as two major factors that deepened Nigeria’s earlier recession.
To resolve these factors, Osinbajo advocates a quick resolution of all executive and legislature wrangling over budget proposals while also warning on the dire consequences of corruption in the country.
State House Correspondent Mariah Olasehinde reports that the Vice President disclosed this at a legislative summit on the economy in Abuja.
Vice President Yemi Osinbajo at the summit advanced reasons why Nigeria cannot afford another recession again hence the need to promote prudence in governance.
Osinbajo also identified constant budget logjam between the two arms of government as unhealthy for the economy noting that the executive and legislature must speed up all processes.
The Nigerian government is of the belief that mutual cooperation between the executive and legislature, boosting institutional fight against corruption and creating more economic opportunities for Nigerians remain the key to a prosperous future.