President Muhammadu Buhari declared on Friday that his administration will take “urgent steps” to diversify Nigeria’s economy by encouraging new investments in mining, agriculture and manufacturing.
Many have accused President Buhari of speaking as if he was still campaigning more than a year after he defeated Goodluck Jonathan in March 2014.
But Mr. Buhari said ‘‘this time we will be more deliberate. The government and businesses will be involved”.
The President, who was speaking in Guangzhou, China, where he had gone on a state visit, said Nigeria will welcome the support of the Chinese government, foreign investors and local businesses for efforts to diversify the nation’s economy.
Aso Rock said the President, who spoke at a reception in his honour by the Communist Party of China, noted that the diversification of the Nigerian economy was long overdue as continued reliance on crude oil exports had always made the economy vulnerable to shocks.
The Secretary of the Communist Party, who is also the Governor of the Guangdong Province, Mr. Hu Chinhua seemed to hear him, replying that the region will support the implementation of all the bilateral agreements reached with the Chinese government during President Buhari’s visit.
President Buhari also visited the Sino-Singapore Knowledge City in Guangzhou, which showcases advancements by China in medical, science and technological inventions, his spokesman Garba Shehu said in a statement.