President Buhari says Nigeria is paying profoundly for incompetence in managing high revenue that emanated from oil, particularly over the past decade, and for allowing the decomposition of critical infrastructure. Speaking today at the State House, Abuja, while receiving the Chief Global CEO of Unilever, Paul Polman, President Buhari said his administration is working tirelessly to change the structure of the Nigerian economy superannuated by several years of mismanagement.
”We refused to save for the rainy day. Now the rain is beating us. No money, no savings, nothing. And we are thoroughly wet from the rains.”
President Buhari said Nigeria was paying the price for evolving into a mono economy, but assured that the country would soon be able to feed herself, and even export, with the current emphasis placed on agriculture. He assured that the Federal Government would hasten the implementation of strategies to ease doing business and attract more investors into Nigeria.
“We want to create jobs, and supporting manufacturing is one way to do it. As soon as we have stabilized our budget, I would personally be interested in the manufacturing sector, particularly in the generation of essential raw materials.”