Nigeria Earned $94bn From Oil In Three Years – Osinbajo


Vice President Yemi Osinbajo has disclosed that the total earning which accrued to the Federal Government from oil sales in the past three years is $94 billion.

Speaking on Tuesday during a town hall meeting in Bariga/Somolu LCDA in Lagos State, he stated that in the four years preceding the APC administration, the PDP government earned about $393 billion in oil sales but made less impact on the livelihood of ordinary Nigerians.

Osinbajo 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 noted that the administration’s National Social Investment Programmes (N-SIP) were geared towards improving the welfare of Nigerians.

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“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.

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