How my govt plans to save the nation from harsh effects of oil crisis — Buhari
– President Muhammadu Buhari met with leading members of the Council of Saudi Arabia’s Chambers of Commerce
– He said that his administration is committed to increasing the productivity of agriculture and solid minerals sectors
– Buhari invite Saudi Arabian businessmen to invest in both sectors
President Muhammadu Buhari meets with Saudi Arabian leaders.
President Muhammadu Buhari has stated that his administration is committed to increasing the productivity of Nigeria’s agriculture and solid minerals sectors to save the nation from the harsh effects of lower crude oil prices.
According to a statement made by Femi Adesina, the president’s special adviser on media and publicity, Buhari stated this during a meeting with leading members of the Council of Saudi Arabia’s Chambers of Commerce and Industry, on Tuesday, February 23, in Riyadh.
The president said that with declining revenues from crude oil exports, Nigeria’s hopes of economic resurgence now lie in the rapid development of its immense agricultural and solid mineral resources.
Buhari took the opportunity to invite Saudi Arabian businessmen to invest in both sectors, saying that his administration will welcome greater foreign investment in support of its efforts to rapidly diversify the Nigerian economy.
The president also noted that Nigeria had regrettably depended too much on crude oil exports to the neglect of other resources. He added that now the country was paying a harsh price for failing to diversify its economy early enough.
“With the downturn in the global prices of oil, we now have to prospect our solid minerals. We have to return to agriculture. Mining and agriculture are our hopes now. We will welcome investments in these areas. We will appreciate an in-flow of more resources and expertise to help us achieve our objective of economic diversification,” he said.
The governors of Osun, Ogun, Katsina, Borno, and Zamfara states, who were part of the president’s delegation, also addressed the Saudi Arabian businessmen on investment possibilities in their states and assured them of good returns.
Abdulrahman Al Zamil, the chairman of the council, stressed that agriculture was a very important area of investment for its members.
Declaring that they were willing to invest in Nigeria, he noted that the Saudis were the leading investors in Egypt, Morocco, Tunisia, Kenya and Ethiopia.
Speaking earlier at a bilateral meeting between the countries, President Buhari rejected a request by the Saudi Arabian government to join the Coalition of Islamic States to fight against terror.
The president noted that Nigeria would rather support them than join the coalition.
The post How my govt plans to save the nation from harsh effects of oil crisis — Buhari appeared first on Nigeria News today & Breaking news | Read on NAIJ.COM.