Vice President Yemi Osinbajo has assured Nigerians that the current economic recession will not last.
He gave the message of hope yesterday at the 8th convocation ceremony of Redeemer’s University in Ede, Osun State.
According to the vice president, the Federal Government was not oblivious to the economic hardships Nigerians were passing through on a daily basis because of the crisis.
He, however, expressed confidence that with the measures the government has introduced, the crisis will soon end.
Professor Osinbajo also urged the youths not to despair but to engage in various legitimate tasks that would assuage their pains to break even.
The vice president pointed out that there was no way Nigeria could have avoided the recession since it had, in February of this year, lost 60 per cent of its revenues to economic saboteurs.
He identified pipelines vandalism as well as the errors of some past leaders as some of the reasons for the current economic situation.
Osinbajo enjoined young graduates to be diligent and take advantage of the various international trading platforms, to improve their status.
In a lecture titled: Nation-Building and Nigeria’s Economic Challenges, a global economic analyst, Mr. Dick Kramer, said the country was in recession because it failed to build a strong private economy over the years and create an industry-based economy.