All things being equal, the budget for 2016 will be a departure from the norms especially over-dependence on crude oil, President Muhammadu Buhari has said.
Buhari said that the 2016 national budget will include fresh policies and measures to encourage the rapid diversification of Nigeria’s economy from dependence on the oil and gas sector.
He spoke during an audience with the President of the Movement of the Enterprises of France (MEDEF), Mr. Pierre Gattaz and a delegation of investors from France.
The President said that the policies being evolved by his administration in the new budget, would boost domestic manufacturing and attract greater investment to Nigeria’s agricultural and mining sectors.
The French investors’ visit to the country is a follow-up to the President’s recent trip to Paris.
Buhari urged the French Trade Mission, which includes over 50 companies with interest in manufacturing, agriculture, infrastructure development among others, to return to Nigeria next year in order to take full advantage of the new policies.
President Buhari 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 investments.
He subsequently, observed the link between domestic security and the inflow of foreign investment,assuring the delegation that the Federal Government was taking all necessary measures to overcome Nigeria’s security challenges.
In his words, “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,” he told the French investors.
