With $94bn Oil Earnings In Three Years, PDP Can’t Beat Us — Osinbajo

Vice President Yemi Osinbajo has pegged the total earning which accrued to the Nigerian government from oil sales in the past three years at $94 billion.

He, however, stated that in the four years preceding the All Progressive Congress’ administration, the government – then led by the Peoples Democratic Party (PDP) – earned about $393 billion in oil sales but made less impact on the livelihood of ordinary Nigerians.

Osinbajo made this revelation during a town hall meeting in Bariga/Somolu LCDA in Lagos State, on Tuesday, as part of festivities marking the Eid-el-Kabir with Lagosians.

He noted that one striking difference between both administrations was that while President Muhammadu Buhari focused on bettering the lot of low-level income earners, the PDP took more interest in aiding middle-level players who could afford to set up industries and run manufacturing plants.

He said: “In the past four years of the previous administration, over $393 billion was earned in oil proceeds alone. In the past three years, we have earned $94 billion. Look at the difference.

“And the reasons are very straightforward. The price of oil was about half of what it used to be. But with the same $94 billion, we have been able to do far more.”

The vice president said upon the inception of the Buhari administration, he made efforts to clear the backlog of salaries, using bailout funds, adding that the gesture was not borne out of pity but the welfare of workers who contributed to the economy.

According to him, the government had not relented in taking Nigerians out of poverty which accounted for its social investment programmes.

The vice president, who addressed a gathering comprising APC chieftains in the state, youth groups, state government officials and the LCDA Chairmen of Somolu and Bariga, noted that the administration’s National Social Investment Programmes (N-SIP) were geared towards improving the welfare of ordinary Nigerians.

“The president’s focus has always been on the common man. So, when we came, we decided on a few things to tackle youth unemployment. First, the N-Power programme to engage as many young people who are graduates as possible.

“We started with 200,000, and just this month, we have employed another 300,000. So, in our N-Power programme, we have 500,000 young graduates who are employed in the programme. Now every local government (area) in Nigeria has N-Power graduate,” he said.

While reeling out some projects embarked on by the ruling party, he stated that the Buhari administration had been able to embark on the completion of more infrastructural projects and achieve more with less funds because of President’s Buhari’s honesty and the seriousness of the administration to improve the country’s fortunes.

“When we got into office, 24 states had not paid salaries for over six months and we ensured that these salaries were paid.

“And President Buhari said then, ‘Look, I have been a salary earner all my life, I have never done any business; the only thing I have ever done is government work, either as a soldier or in government. I cannot imagine how anybody can go to sleep as a governor without paying the salaries of his workers.’ So, we made sure that we paid salaries, and we have done so many other things.

“In investments, look at the Lagos-Ibadan Expressway; for almost 12 years, with all that money, it was never done. Now we have set about and we are doing it, we will complete it. Also, the Lagos-Kano railway project, so many of us know that we are moving towards Ibadan now. And we are going to complete it,” he added.