President Muhammadu Buhari on Tuesday night said that his administration was fully committed to increasing the productivity of Nigeria’s agriculture and solid minerals sectors to save the nation from the harsh effects of lower crude oil prices.
Speaking at a meeting with leading members of the Council of Saudi Arabia’s Chambers of Commerce and Industry, President Buhari said that with declining revenues from crude oil exports, Nigeria’s hopes of economic resurgence now lie in the rapid development of its immense agricultural and solid mineral resources.
Inviting Saudi Arabian businessmen to invest in both sectors, the President said that his administration will welcome greater foreign investment in support of its efforts to rapidly diversify the Nigerian economy.
Buhari, in a statement by the Special Adviser on Media and Publicity, Femi Adesina, said that Nigeria had regrettably depended too much on crude oil exports to the neglect of other resources and was now paying a harsh price for failing to diversify its economy early enough.
He said: “With the downturn in the global prices of oil, we now have to prospect our solid minerals. We have to return to agriculture. Mining and agriculture are our hopes now.
“We will welcome investments in these areas. We will appreciate an in-flow of more resources and expertise to help us achieve our objective of economic diversification,” the President said.
The governors of Osun, Ogun, Katsina, Borno, and Zamfara states, who were part of the President’s delegation, took turns to address the Saudi Arabian businessmen on investment possibilities in their states, assuring them of good returns.
The Chairman of the Council of the Saudi Arabian Chambers of Commerce and Industry, Dr Abdulrahman Al Zamil said that agriculture was a very important area of investment for its members, adding that they were already in Brazil, the United States of America and Sudan, “where we have huge farms.”
Declaring that they were willing to invest in Nigeria Dr. Abdulrahman Al Zamil said that the Saudis were the leading investors in Egypt, Morocco, Tunisia, Kenya and Ethiopia.
Follow The Forefront on facebook Global audience /facebook Nigerian audience /The Blogger's facebook personal account and facebook (fan page)/ & twitter
Instagram Global photos and vlog: osagiejoshua
BBM Channel: C002CB006
 |
| ADVERTISE WITH THE FOREFRONT: +234-803-698-6103. For more details CLICK HERE NOW You don't want to have this information alone. Share this story with others on social media with options below. |
No comments:
Post a Comment
Disclaimer!!! Opinions expressed in comments do not represent THE FOREFRONT MEDIA NG's views. All participants are entitled to their opinions. Thank you!!!
Advertise on the Forefront: For advert placement in the blog or advert posts like news updates, reach +2348124620827 [WhatsApp].
Copyright 2023 The Forefront Media Ng. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from The Forefront Media Ng