Vice President Osinbajo (middle) in Abakaliki during the 21st edition of the Joint Planning Board and the National Council on Development Planning meeting holding in the Ebonyi State capital

Russia/Ukraine war driving price, supply shock – VP Osinbajo, tells Nigerians to brace up for ‘inevitable economic challenges’

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[From CHINEDU NWAFOR, Abakaliki]

Vice President, Prof. Yemi Osinbajo, says the war between Russia and Ukraine has led to price and supply shock, globally, just as he urged the three tiers of government of Nigeria to brace up for the inevitable economic challenges.

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Vice President Osinbajo (middle) in Abakaliki during the 21st edition of the Joint Planning Board and the National Council on Development Planning meeting holding in the Ebonyi State capital

Vice President Osinbajo made the call in Abakaliki during the 21st edition of the Joint Planning Board and the National Council on Development Planning meeting holding in Abakaliki, Ebonyi State.

According to him, synergy among the three tiers of government would assist Nigeria to tackle the challenges confronting the nation’s economic prosperity.

“The need for synergy among all tiers of government at this critical time, especially as we continue to face the challenges of the of the onslaught of COVID-19 pandemic, which is now compounded by the ongoing war between Russia and Ukraine has already led to price and supply shock, especially in food …We must brace ourselves to collectively respond to the inevitable economic challenge that will occur and some which are already occuring.

“Let me take this opportunity to congratulate the council, federal ministry of finance, budget and national planning, federal and state MDAs and all stakeholders and indeed the private sector and the civil society for the sterling work that has been done in articulation a national development plan 2021-2025.

“The strategic objective of the national development plan include establishing a strong foundation for a diversified economy, investing in infrastructure, improving government and stamping out insecurity. All of which would contribute to achieving our national development aspirations.

“The content of the plan is as important as the process that which it was developed. And I find the extensive deliberations and contributions to fashion a medium term blueprint . But the implementation of the plan is the crux of the matter and this speaks of the relevance to the theme of the meeting “Good Governance and Institutional Capacity: Pathways to Sustainable National Development.

“I commend the Ebonyi state government for ensuring the successful organisation of the event and its infrastructural strides which has enhanced its people’s wellbeing,” he said.

Governor David Umahi in his address thanked the vice president for the visit and the national council on development planning for choosing Ebonyi to organise the meeting.

“I commend the vice president for his commitment and loyalty to President Muhammadu Buhari as challenges facing the country are not peculiar but global.

On the controversy over VAT collection, Umahi said the duty should be exclusively reserved for the federal government and called for its inclusion in the exclusive list.

Minister for Finance, Mrs Zainab Ahmed, in her address, commended the participants for their fruitful deliberations, noting that recommendations from the meeting would enhance national development planning in Nigeria.

Osinbajo during the visit, inaugurated a section of the dualized Abakaliki/Afikpo expressway, a section of Enugu/Abakaliki dual carriage way, Mile 50/Ishieke dual carriage way, Dr Sam Egwu twin flyover bridge, new government Chapel, President Muhammadu Buhari tunnel, among other projects, executed by Governor David Umahi’s administration.

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