Admin l Friday, December 2, 2016
SAGAMU, Ogun State – Vice President of Nigeria, Professor Yemi Osinbajo, SAN has hinted that Nigeria will budget N7 trillion for the year 2017. The Budget will be presented by President Muhammadu Buhari before the end of December, 2017.
Osinbajo who made the revelation in continuation of his tour of industries in Sagamu, Ogun State said the Federal Government will budget about N7 trillion for 2017.
“But N7 trillion is certainly not the kind of money, it does sounds like a fair amount of money , but certainly, it is not the kind of size that can really make a difference in a Nine trillion economy such as we have”, he said.
After touring a N64 billion food processing industrial complex in Sagamu, he said the Federal Government is looking at some game changing projects like the complex that requires significant investment.
The N64 billion food processing plant is owned by Honey Well Group and Shea Butter Factory owned by the Lad Group.
The Vice President who visited with top officials of the Ministry of Trade and Investment , Bank of Industry and NEXIM Bank said the Federal Government believes that there is no way it will deliver its economic agenda without partnership with the private sector.
He said the contribution of the Federal Government is the catalysts adding that the catalytic contribution is in terms of infrastructure and some incentives for the private sector.
“The real contribution is going to come from the private sector and that is why these partnerships are absolutely important to us and what we are looking for is some game changing type of projects”, he said.
“At this moment, there is a shortage of animal feed everywhere, especially because of shortage of maize. So the feed mill is going to be very important in achieving some of our objectives. The sorghum mill is really a big attraction, so we think that what you are doing is really spot on, it is really the right way to go and we certainly are committed to supporting the Honeywell Group in ensuring that this happens in ensuring that this happens and we will do all that is required to make sure that this project succeeds”, he said.
