The Vice President, Professor Yemi Osinbajo, has attributed the economic recession recently witnessed in Nigeria to the unchecked rate of corruption.
Professor Osinbajo stated this on Monday in Abuja at the House of Representatives Summit on Economic Recovery.
He said, “Unbridled corruption and waste are critical among reasons why Nigeria went into recession; corruption is the most outrageous factor.”
“There are problems of intractable budgetary delays and long procurement process which means money won’t flow into the economy,” he added.
Professor Osinbajo, however, commended the support of the National Assembly, noting that the Presidential Enabling Business Environment Council (PEBEC) was a collaborative effort with the legislature and private sector.