President Buhari -No better time to diversify Nigerian economy than now – President Buhari

Dutse – President
Muhammadu Buhari on Wednesday said that
there was no better time to
diversify the Nigerian economy than now.
PRESIDENT BUHARI RECEIVES OGUN GOV 2. President Muhammadu Buhari (R)
receives the Executive Governor of Ogun State Senator Ibikunle Amosun in
 his office at the State House in Abuja. PHOTO; SUNDAY AGHAEZE/STATE
HOUSE. MAY 23 2016.
PRESIDENT BUHARI RECEIVES OGUN GOV 2. President Muhammadu Buhari (R)
receives the Executive Governor of Ogun State Senator Ibikunle Amosun in
 his office at the State House in Abuja. PHOTO; SUNDAY AGHAEZE/STATE
HOUSE. MAY 23 2016.

Buhari said this at the 56th Annual General Meeting and Conference of
Nigerian Association of Chambers of Commerce, Industry, Mines and
Agriculture (NACCIMA) in Dutse.

Represented by Minister of Industry, Trade and Investment, Dr Okechukwu
Enelamah, the President said his administration was determined to ensure
 the long-overdue fundamental restructuring of the Nigerian economy.

He said that Nigeria had depended on oil and gas which accounted for
more than 75 per cent of government’s revenue for so long.

The President said that with the current dwindling prices of oil, the
needed reform to diversify the country’s economy must be carried out.

Buhari said that with the current challenge, the country must harness
its natural resources like agriculture and solid minerals to survive,
being a country blessed with arable land, endless swathes of grasslands
and forest.

He said that these natural resources produced more yam, cassava, cashew
nut, shea nuts and kola nuts than the rest of the world.

Buhari said that Nigeria was equally blessed with solid mineral
resources, stressing that not less than 44 mineral resources were
available in commercial quantities across the country.

The President said that it was disheartening that every year Nigeria
spent more than three billion dollars to import steel despite the fact
that the country had enough iron ore.

He said that his government would create environment that would enable
private sector to partner the government to implement the Nigerian
Industrial Revolution Plan.

Buhari promised to champion the cause of Nigeria’s micro small and
medium enterprises as well as attract long-term domestic and foreign
investments to the country.