Buhari promises to restructure Nigeria’s economy

MontelentApril 15, 2016

President Muhammadu Buhari on Friday said his administration would take urgent steps to restructure Nigeria’s economy. He said he would achieve this by encouraging new investments in mining, agricultural and manufacturing. According to a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, the President spoke in Guangzhou, China, at a reception in his honour by the Communist Party of China. Shehu further quoted Buhari as saying that Nigeria will welcome the support of the Chinese government, foreign investors and local businesses for efforts to diversify the nation’s economy. He noted that the diversification of the Nigerian economy was long overdue as continued reliance on crude oil exports had always made the economy vulnerable to shocks. “This time, we will be more deliberate. The government and businesses will be involved,” Buhari said. In his remarks, the Secretary of the Communist Party, who is also the Governor of the Guangdong Province, Mr. Hu Chinhua, pledged that the region will support the implementation of all the bilateral agreements reached with the Chinese government during Buhari’s visit. The President also visited the Sino-Singapore Knowledge City in Guangzhou, which showcases advancements by China in medical, science and technological inventions.


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