President Muhammadu Buhari on Thursday said his administration would support Free Trade and Export Processing Zones in the country to spur rapid economic development.
He stated this in Shanghai, China, adding that he would give priority to the building and development of resilient and viable cities comparable with other developed cities across the globe.
In a statement issued by Garba Shehu, the Senior Special Assistant on Media and Publicity to the President. According to the statement, Buhari stated this at separate meetings with the Mayor of the Chinese city of Shanghai, Yang Xiong and the Director of Shanghai Free Trade Zone, Liu Fangzhou.
The President, who visited the Shanghai Free Trade Zone, said Nigeria was prepared to learn “how to make our cities more viable from those that have achieved development.”
“We have already identified the development of infrastructure which will bring industries that create jobs and help us to diversify the economy. We are going to work hard to achieve these within the period we have in office. Nigerians will see progress and feel the impact,” he said.
While commending the hardwork and incredible success story of the city of Shanghai, Buhari said the virtues of hard work were central to every human achievement and development.
In his remarks, the Mayor of Shanghai expressed the willingness of several Chinese businesses to key into the vision of the Chinese President Xi Jinping for Africa by investing in Nigeria.
The statement also quoted the Director of the Free Trade Zone Liu Fangzhou, as commending the effort of the Nigerian government towards the diversification of the economy.
Fangzhou further enjoined the Nigerian government to provide favourable policy environment to encourage foreign investors.