Vice President Yemi Osinbajo has ruled himself out of the presidential race in the forthcoming coming election in 2019.

Attending the Financial Times AFRICA Summit in London on Monday, he had been reportedly asked if he had considered running, Osinbajo, to which he replied: “None of that is on the card.”

However, speaking at the summit, Osinbajo had explained that the present administration was making specific efforts to enable the private sector to thrive specifically by undertaking extensive ‘ease of doing business’ reforms, in addition to on-going investment in infrastructure.

He noted that the federal government in the past months has been working assiduously to improve macroeconomic conditions.

“After a continuous slide in growth since 2014, the trend of growth in GDP has turned around with a modest growth of 0.55% in the second quarter of this year while inflation, though still somewhat high, has declined from its peak of 18.7% in January 2017 to about 16% today,” he stated.

Speaking to a global audience made up of international business leaders, investors, public sector officials, media gurus and intellectuals, the Vice President noted that ‘the outlook going forward is quite positive based on improvements in oil prices and production and the trend of leading indicators such as positive purchasing managers indices, a revived stock exchange and increasing foreign exchange reserves.

He highlighted some of the efforts of the Muhammadu Buhari’s administration in agriculture and power, drawing attention to the significant progress achieved in the ease of doing a business initiative.

He stated that “in the first stage, reforms were introduced under a 60-day national action plan focused on eight areas that make it easier to register businesses, obtain construction permits, get credit, pay taxes, get electricity, trade across borders, facilitate entry and exit of people and register property.”

Continuing, Osinbajo said: “Practical examples of success include leveraging the use of technology to fast track business registration and payment of taxes, a functioning, tried and tested 48-hour electronic visa procedure, and an Executive Order mandating greater transparency and efficiency across all government agencies.

“The reforms have led to a reduction in cost and time, as well as greater transparency for small and medium-sized enterprises in particular.

“Following the 70% success rate achieved in the first phase of the ease of doing business reforms, we recently embarked on a second national action plan which will have 11 areas of focus and will run for 60 days from October 2017.”

The Vice President equally noted that Nigeria is an investor’s delight because of the opportunities which the Nigerian economy offers, specifically emphasizing that “the opportunities are enormous indeed.”

Additional Report: Tribuneonline