Prof. Yemi Osinbajo, the Vice President, has blamed corruption, poor governance, and limited institutional capacity for persistent poverty, even among resourceful countries.
On Friday, during the 21st edition of the Joint Planning Board/National Council on Development Planning meeting in Abakaliki, Osibanjo revealed this during a two-day working visit to Ebonyi State.
According to him, a country can have natural resources in every local government area and a well-educated workforce, but still fail owing to weak and corrupt institutions, resulting in inadequate social service delivery.
Osibanjo said, “The council on development planning has remained a very important platform for setting the tone of national development. It certainly provides opportunity for federal and state governments to fathom out active collaboration for the wellbeing of our people.
“The need for synergy among all tiers of government at this critical time, especially as we continue to face the challenges 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 and security.
“We must brace ourselves to collectively respond to the inevitable economic challenge that will occur and some which are already occurring. 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 articulating a national development plan 2021-2025.
“The strategic objective of the national development plan includes establishing a strong foundation for a diversified economy, investing in infrastructure, improving governance and stamping out insecurity, all of which will contribute to achieving our national development aspirations.”
via: Information Nigeria