Buhari Says 2016 Budget Will Boost Economic Diversification

President Muhammadu Buhari has disclosed that his administration will include fresh policies and measures for the rapid diversification of the economy from its current over-dependence on the Oil and Gas sector in its 2016 National Budget.

Speaking on Monday in Abuja during a meeting with the President of the Movement of the Enterprises of France (MEDEF), Mr. Pierre Gattaz and a delegation of French investors at the Presidential Villa, he said the policies being evolved by his administration to boost domestic manufacturing and attract greater investment to Nigeria’s agricultural and mining sectors would be fully realised in the 2016 budget.

According to a statement signed by the Senior Special Assistant on Media and Publicity, Garba Shehu, 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: “Our government came into office at a time when many people had abandoned the country’s manufacturing, agricultural and mining sectors.

“We are doing our utmost best to encourage diversification into these 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 urged Gattaz and the French trade mission, which included over 50 companies with interest in manufacturing, agriculture, infrastructure development and other areas, to return to Nigeria next year to reap the advantage of the new policies.