President Muhammadu Buhari on Monday, October 5, shed light on the details of the 2016 budget preparation by his administration.
Speaking in Abuja in the course of the meeting with president of the Movement of the Enterprises of France, Pierre Gattaz, and French investors, Buhari claimed that fresh policies would be used in the new budget, Premium Times reports. Those policies would be aimed at rapid diversification of the Nigerian economy which is currently overdependent on the oil and gas sector.
Buhari plans to boost domestic manufacturing and attract more investment in Nigeria’s agriculture and mining. The country leader.therefore urged investors to return to Nigeria next year to benefit from the new policies.
Regarding the security challenges, considered by many as an obstacle for investors, Buhari assured them his government was taking all the necessary measures to resolve these problems.
“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 further assured the French investors that his administration had launched an active anti- corruption fight to ensure effective management of the country resources.
Recall that last week reports emerged that the federal government had started working on the 2016 budget draft optimisation .
According to the information available at that time, the.budget will be based on six policy thrusts: economic and social development, infrastructure, governance, environment, as well as state and regional development.
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