Buhari is resolute to diversify economy — Adamu

BuhariSen. Abdullahi Adamu (APC Nasarawa West) says President Muhammadu Buhari is determined to diversify the country’s economy.

He spoke with News Agency of Nigeria (NAN) in Abuja on Monday, noting that the present administration had said it on many occasions that Nigeria could no longer depend on oil and gas based economy.

“Oil and gas have tended, over time, to spoil us; people have got used to easy money but now the wells are drying, even if they are not, the market is becoming very hostile.

“The price has gone down and the demand for our oil is very low, even though previous administrations sang the idea of diversifying the economy, they did not do it.

“Buhari has said that he would make deliberate efforts to diversify the economy and bring on board new attitude toward agricultural production.

“He believes as much as we do that agriculture holds the greatest potential for job creation if we enhance,’’ he said.

Adamu said that with agriculture, the nation would have excess food crops as well as industrial crops that would be exported to boost foreign exchange.

Apart from agriculture, he observed that the country had solid minerals that could turn its economy around.

“Buhari has assured Nigerians that he would also address the issue of solid minerals and he is taking a look at the entire policy, operations and the investments in that sector.

“We have information that every one of the 774 local governments in Nigeria has one or more mineral deposits.

“If we can mine, process and add some value to them, you can only imagine the kind of multiplier effects we will enjoy.

“Once you can give agricultural and solid mineral sector a boost, sharpen the processes for revenue generation and block the leakages that we know, our economy will take a leap,’’ he said.

NAN reports that Buhari, while presenting the 2016 Budget to the National Assembly, reaffirmed the commitment of his administration to job creation and economic diversification.

He specifically laid emphasis on developing the agriculture and solid mineral sectors with increased funding, investment in agriculture and solid minerals, among others.

He said that his administration would ensure increased capital expenditure with significant resources to critical sectors of the economy.

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  • amador kester

    From east asia,china,korea,taiwan Providence gave us examples of how to fast track development ,stem corruption,,from scandinavia we are to learn how to develop tbe highest living standards quietly,from middle east endless crisis we are warned never to mix together politics with religion.There are even a few states in nigeria serving as worthy examples to follow and another few serving as worst case scenario warnings. In other words Providence mercifully provides us and the entire world vicarious learning experiences like a drama. So what reason do we have to fail? And Why cant we diversify and grow this economy?

  • Evans

    Even befor 2016 budget was released, Buhari was reported to have set aside about N68b for oil exploration in the north yet the media insists that “President Muhammadu Buhari is determined to diversify the country’s economy.” It is difficult to believe that there will be significant progress in economic diversification for the remaining three and four months or thereabouts of this regime.

  • honesty NO1

    You can not diversify the economy without 24 HOURS ELECTRICITY We are not hearing anything again from FASHOLA ! ! ! The last thing we heard was the TARIFF increase

  • Obasi OFIA

    Is this Senator the spokesman for the Executive or is he just making symbolic political statement and paying cheap journalists to behave as if they were working?