National Budget being prepared by his administration will include fresh
policies and measures to encourage the rapid diversification of the
Nigerian economy away from its current over-dependence on the oil and gas
sector.
Speaking at an audience with the President of the Movement of the
Enterprises of France (MEDEF), Mr. Pierre Gattaz and a delegation of
French investors, President Buhari said that policies being evolved by his
administration to boost domestic manufacturing and attract greater
investment to Nigeria’s agricultural and mining sectors will be given full
effect under the 2016 budget.
The President, therefore, urged Mr. Gattaz and the French trade mission,
which includes over 50 companies with interest in manufacturing,
agriculture, infrastructure development and other areas, to return to
Nigeria again next year in order to take full advantage of the new
policies.
President Buhari also assured the French investors that under his
leadership, Nigeria will not fall short of international standards in the
protection of foreign investments and the repatriation of returns on such
investments.
Agreeing that domestic security and the inflow of foreign investment were
intrinsically linked, the President told the French investors, whose visit
to Nigeria is a follow-up to his recent trip to Paris, that the Federal
Government was taking all necessary measures to overcome Nigeria’s
security challenges.
“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
told the French investors.
The President said that Nigeria will also welcome more French investment
in its power sector because availability of steady power supply will lead
to the reopening of closed factories and the creation of more jobs.
He also assured the delegation that his administration was tackling
corruption with vigour to ensure greater probity in the management of
national resources.
The MEDEF President, who spoke on behalf of the French investors, sought
assurances from President Buhari on the safety of their planned
investments in Nigeria and the easing of bureaucratic bottlenecks.