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Tuesday, 10 October 2017

'I won’t run in 2019' - VP Osinbajo



Vice President Yemi Osinbajo has said that he will not run for president in 2019.



He spoke yesterday in London at the Financial Times Africa Summit .

When he was asked whether he would be running, Osinbajo was quoted to have said: “None of that is on the card.”

According to a copy of the speech released to reporters in Abuja, the vice president said the administration specifically carried out extensive ‘ease of doing business’ reforms, in addition to on-going investment in infrastructure.

“After a continuous slide in growth since 2014, the trend of growth in GDP has turned around with a modest growth of 0.55 per cent in the second quarter of this year.

“Inflation, though still somewhat high, has declined from its peak of 18.7 per cent in January 2017 to about 16 per cent today,” he stated.

The Vice President noted that ‘’the outlook going forward is quite positive based on improvements in oil prices and production and the trend of leading indicators such as positive purchasing managers indices, a revived stock exchange and increasing foreign exchange reserves’’.

Highlighting some of the efforts of the administration in agriculture and power, the Vice President drew attention to the significant progress achieved in the ease of doing business initiative.

“In the first stage, reforms were introduced under a 60-day national action plan focused on eight areas that make it easier to register businesses, obtain construction permits, get credit, pay taxes, get electricity, trade across borders, facilitate entry and exit of people and register property.

“Practical examples of success include leveraging the use of technology to fast track business registration and payment of taxes, a functioning, tried and tested 48-hour electronic visa procedure, and an Executive Order mandating greater transparency and efficiency across all government agencies.

“The reforms have led to reduction in cost and time, as well as greater transparency for small and medium sized enterprises in particular.

“Following the 70 per cent success rate achieved in the first phase of the ease of doing business reforms, we recently embarked on a second national action plan which will have 11 areas of focus and will run for 60 days from October 2017,” he added.

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