Vice President Osinbajo spoke to our audience in a webinar on Thursday 24 September.
Please find the video below:
Nigeria – Africa’s biggest economy and most populous country – has been hard hit by the coronavirus pandemic.
Its success in navigating its way out of the global economic slowdown has critical implications for the West Africa region and the continent beyond.
READ MORE Nigeria at 60: Where is the country (really) headed?
Although Nigeria’s team of world class health professionals have fended off the worst public health effects of the pandemic, the national economy has been battered by shrinking markets and falling export prices.
Worse still, a price war between Russia and Saudi Arabia has further depressed the price of Nigeria’s vital exports of crude oil.
To address that, President Muhammadu Buhari appointed Vice President Yemi Osinbajo to chair the Economic Sustainability Committee to develop, along with the country’s top economic ministers, a plan to relaunch the country on a sustainable growth path.
READ MORE ‘Nigeria’s economy at independence showed great promise’ – Dangote
The Bouncing Back plan includes:
- Multi-billion dollar investments in agriculture across all 36 states and public works and road building programme
- Mass housing programme to build 300,000 new homes a year
- Solar power systems for 25 million households
- Rapid expansion of broadband connectivity across the country to boost commercial competitivity and educational services
- ‘Made in Nigeria’ drive focusing on manufacturing: shoes and textiles, ceramics, plastics, furniture, steel fabrication and building materials
- Using Africa’s biggest gas reserves, the 7th biggest in the world, as feedstock for industrialization and domestic power source
Understand Africa's tomorrow... today
We believe that Africa is poorly represented, and badly under-estimated. Beyond the vast opportunity manifest in African markets, we highlight people who make a difference; leaders turning the tide, youth driving change, and an indefatigable business community. That is what we believe will change the continent, and that is what we report on. With hard-hitting investigations, innovative analysis and deep dives into countries and sectors, The Africa Report delivers the insight you need.
View subscription options
