Policies in Budget 2016 Will Boost Economy – Buhari
BREAKING NEWS, Business
–
President Muhammadu Buhari says 2016 Budget will include new policies to boost economic diversification
President Muhammadu Buhari disclosed Monday, October 5, in Abuja that the 2016 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
Granting audience to Pierre Gattaz, president of the Movement of the Enterprises of France, MEDEF, 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 would be given full effect under the 2016 budget.
The President, therefore, urged 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 would 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, according to a statement issued by Garba Shehu, senior special assistant to the president on Media and Publicity today.
— October 5, 2015 @ 7:20 GMT
|
Related Posts
Zenith Tech Fair 4.0 ends on a hifg as hackathon winners get 77.5m cash reward
A total sum of N77.5 million in prize money was won at the end of a keenly contestedhackathon session at...
Read MoreBoI raises $5bn, plans N120bn MSME support
THE Managing Director of Bank of Industry (BoI), Mr Olasupo Olusi, says the bank has raised over $5 billion from...
Read MoreCost of training in aviation to rise – AYEP Founder
THE Convener of the Aviatrix Youth Empowerment Programme (AYEP), Mrs Victoria Adegbe, has said that the cost of training dispatchers,...
Read MoreMost Read
Subscribe to Our Newsletter
Keep abreast of news and other developments from our website.