Osinbajo: Attacks on oil facilities responsible for economic recession

Vice President Yemi Osinbajo on Monday blamed the current economic recession in the country on the militancy in the Niger Delta region. Speaking at the Presidential Quarterly Business Forum at the State House, Abuja, Osinbajo said the bombings had more adverse impact on the 2016 Budget and the economy than the low prices of oil in the international market. According to him, the 2016 Budget had properly anticipated the low oil price, but didn’t expect the drop in oil production caused by the bombings.