How to rescue Nigeria’s economy, by stakeholders

Overdependence on crude oil for revenue has stunted Nigeria’s development. A holistic and sustainable economic diversification strategy has become imperative in view of dwindling fortunes triggered by crashing oil prices at the international market. This was the position canvassed by participants at The Nation’s National Economic Forum in Lagos.

Budget 2016: Buhari Promises To Diversify Nigeria’s Economy

President Muhammadu Buhari has said his administration would enact new policies to diversify Nigeria’s economy from oil to other sectors such as agriculture, mining and manufacturing. This, he said, will be captured in the 2016 national budget.

Speaking at a meeting with a delegation of French investors under the aegis of Movement of the Enterprises of France (MEDEF), led by its President, Mr. Pierre Gattaz, in Abuja, yesterday, President Buhari said the policies currently being evolved by his administration would boost domestic manufacturing and attract greater investment to Nigeria’s agricultural and mining sectors.