Mr. Osinbajo, who was receiving the Northern States Pentecostal Bishops Forum in his office in Abuja, said apart from depreciation in Naira value, the country’s economy had no reserves to support it.
“At the height of the oil boom, there were no savings,” he said.
“There is no country in the world that can face the kind of stealing that took place in Nigeria without having to deal with the consequences, including the current state of the economy.”
But, the Vice President said although the times were hard today, there was “great hope the country will prosper again soon.”
“This country has been badly governed. We are dealing, for instance, with the embezzlement of funds to the tune of $15 billion in one sector alone,” he said