Vice President Yemi Osinbajo said the current administration spent N1.3tn on capital projects in 2016.
Osinbajo described the President Muhammadu Buhari-led government as the highest spender in the history of the country while speaking at a plenary session titled, “Conversation with the Vice-President” at the 2017 Nigerian Bar Association National Conference on Monday in Lagos.
He said, “In 2016, we spent N1.3tn on capital projects which is the highest spent ever in this country. The power sector reform is also ongoing as it is one of the most important sectors in the country,”.
“The most important reform this administration has achieved is setting a foundation for the economic recovery of the country.
“We were dealing with a mono-economy and a financial industry that was essentially opaque.
“We have set a foundation of rebuilding the economy, creating the Single Treasury Account, monitoring government spending, modified the tax system to be more efficient and implemented executive orders.
“We are currently in a situation where we have cleared the mess inherited by this administration,” .
He listed improvement in agricultural sector as one of the impacts the Federal Government’s reform had had on the poor.
Osinbajo said, “In most of the northern states, agriculture has become a staple. For the economy, we are going to see a tripling in the harvesting of rice, prosperity is returning to some states such as Kebbi and Zamfara.
“There is a lot of export of agricultural products, what we need to do is to engage in more value added exports and we have quite a few investors.”