Buhari plans diversification of Nigeria’s economy in 2016 budget

Related stories

China Snubs U.S. Crude for Third Month, Even as Ethane Trade Restarts

China has avoided buying U.S. crude oil for three...

Super Eagles Icon Peter Rufai Passes Away at 61

By Abiola Olawale The Nigerian football community has been thrown...

Dakuku Peterside’s Beneath the Surface Book Out in October

By Abiola Olawale Masobe Books, a renowned publisher has announced...

Oil Prices Dip on Confirmation of Inventory Build

Crude oil prices opened weaker today following Wednesday’s release...

Buhari In Stable Condition – Ex-Aide Confirms

By Abiola Olawale Ahmed Bashir, ex-aide to the immediate past...

images (38)President Muhammadu Buhari has said his administration would enact new policies to diversify Nigeria’s economy from oil to other sectors such as agriculture, mining and manufacturing.

The diversification, according to the President, will be captured in the 2016 national budget.

President Buhari gave the hints at a meeting with a delegation of French investors under the aegis of Movement of the Enterprises of France, MEDEF, led by its President, Mr. Pierre Gattaz, in Abuja, yesterday.

It will be recalled that President Buhari had, during his visit to Paris three weeks ago, met with the investors who assured him of a visit to Nigeria on investment survey.

President Buhari said the policies currently being evolved by his administration would boost domestic manufacturing and attract greater investment to Nigeria’s agricultural and mining sectors.

He urged Mr. Gattaz and the French trade mission, which houses over 50 companies with interest in manufacturing, agriculture, infrastructure development and other areas, to return to Nigeria next year and take full advantage of the new policies.

Raising hope of stamping out insecurity which provokes fear in foreign investors, President Buhari also assured the French investors  that under his leadership, Nigeria would not fall short of international standards in the protection of foreign investments and the repatriation of returns on such investments.

He said: “We are doing  our utmost best to encourage diversification into non-oil sectors, which can employ a lot of people and we will welcome your support in this regard.”

“Ultimately, reducing unemployment will also help to improve security because unemployment and insecurity are inseparable,” President Buhari told the French investors.”

A statement by the Special Assistant to the president on Media and Publicity, Mallam Garba Shehu further quoted the President as saying “that Nigeria will also welcome more French investments in its power sector”, stressing that ”availability of steady power supply will lead to the reopening of closed factories and the creation of more jobs.”

The statement also assured the delegation that the present administration was tackling corruption with vigour to ensure greater probity in the management of national resources.

The MEDEF President, who spoke on behalf of the French investors, had earlier raised concerns on the safety of their planned investments in Nigeria and the easing of bureaucratic bottlenecks.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

NDN
Latest News
China Snubs U.S. Crude for Third Month, Even as Ethane Trade RestartsSuper Eagles Icon Peter Rufai Passes Away at 61Dakuku Peterside’s Beneath the Surface Book Out in OctoberOil Prices Dip on Confirmation of Inventory BuildBuhari In Stable Condition - Ex-Aide ConfirmsBREAKING: Ex-President Buhari sick, hospitalised abroad2027: Abure, Usman Clash Over Peter Obi’s Rising Profile in ADC CoalitionMTN’s Dabengwa Tier III Cloud Data Centre: A New Era for West African Tech and AIGanduje: Why are they resigning?OPEC Reports a Global Oil Production Decline in 2024IMF Warns FG to Overhaul 2025 Budget to Prevent Economic Meltdown2027: Peter Obi Vows, Says ADC Coalition 'll prioritize Nigerians’ WelfareTragedy! Liverpool Star Diogo Jota Dies in Car Crash in SpainFamily Announces Burial Date of Ex-Kwara Governor, Cornelius AdebayoSex Scandal: Baltasar Engonga, Ex-Equatorial Guinea Anti-Corruption Boss Bags 18 Years
X whatsapp