Vice President Yemi Osinbajo Sunday attributed the current economic recession in the country to the activities of pipeline vandals in the Niger-Delta region who, he said, caused almost 60 percent revenue loss.
Osinbajo, who spoke with reporters in Abeokuta, Ogun State, however, said the Federal Government was already taking serious measures to address the problem
The Vice President also held a closed-door meeting with Governor Ibikunle Amosun at the Government House, Abeokuta.
According to him, Nigeria is going through challenging times as a result of huge revenue loss.
He noted that the administration of President Muhammadu Buhari was working hard towards ensuring the nation earns more revenue.
He said: “One of the key reasons why we are in recession is the fact that we lost about 60 percent of our revenue due to the vandalization of the pipelines in the Niger-Delta and we lost almost 40 percent of the gas.
”But I have strong belief that by the grace of God, we will be able to resolve that. Once we are able to resolve that, we would, at least, be able to earn more revenue. If revenue grows up, it is an added advantage.”