DIVERSIFICATION OF NIGERIA’S ECONOMY NOW A MATTER OF URGENCY – BUHARI

Muhammadu Buhari

President Muhammadu Buhari Friday in Guangzhou, China, said
that his administration will take urgent steps to restructure
Nigeria’s economy by encouraging new investments in mining,
agriculture and manufacturing.

Speaking at a reception in his honour by the Communist Party of
China, President Buhari said that Nigeria will welcome the support
of the Chinese government, foreign investors and local
businesses for efforts to diversify the nation’s economy.

The President noted that the diversification of the Nigerian
economy was long overdue as continued reliance on crude oil
exports had always made the economy vulnerable to shocks.
‘‘This time we will be more deliberate. The government and
businesses will be involved,” President Buhari said.

In his remarks, the Secretary of the Communist Party, who is also
the Governor of the Guangdong Province, Mr. Hu Chinhua,
pledged that the region will support the implementation of all the
bilateral agreements reached with the Chinese government during
President Buhari’s visit.

President Buhari also visited the Sino-Singapore Knowledge City in
Guangzhou, which showcases advancements by China in medical,
science and technological inventions.