President Muhammadu Buhari says his government is currently preparing the 2016 national budget that will include fresh policies and measures aimed at encouraging rapid diversification of the economy.
He emphasised that the fresh policies would be given full effect in the 2016 budget and would be a departure from the nation’s current over-dependence on the oil and gas sector.
The president was speaking at the Aso Rock Presidential Villa in Abuja on Monday while receiving a delegation of French investors, the Movement of the Enterprises of France (MEDEF), led by its president, Mr. Pierre Gattaz.
The French investors’ visit to Nigeria was a follow-up to President Buhari’s recent trip to Paris.
The president said the new policies would boost domestic manufacturing and attract greater investment to Nigeria’s agricultural and mining sectors.
He urged Gattaz and the French trade mission, comprising over 50 companies with interest in manufacturing, agriculture, infrastructure development and other areas, to return to Nigeria next year and take full advantage of the new policies.
Buhari assured that under his leadership, Nigeria would not fall short of global standards in the protection of foreign investments and the repatriation of returns on such investments.
President Buhari affirmed that domestic security and the in-flow of foreign investment were intrinsically linked.
He assured that his administration was taking all necessary measures to overcome the current security challenges in the country.
The president also assured that the Federal Government was tackling corruption with vigour in order to ensure greater probity in the management of national resources.
Buhari said he assumed office at a time when many people had abandoned the nation’s manufacturing, agricultural and mining sectors.
According to the president, reducing the level of unemployment will help improve security as unemployment and insecurity are inseparable.
“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”, he said.
