President
Muhammadu Buhari on Monday said Nigeria is paying dearly for incompetence in
managing huge revenue that accrued from oil, particularly over the past decade,
and for allowing the decay of critical infrastructure.
The Nation report
continues:
He spoke while receiving
the Chief Global CEO of Unilever, Mr. Paul Polman, at the Presidential Villa,
Abuja.
The President, in a
statement issued by his Special Adviser on Media and Publicity, Femi Adesina,
said his administration is working very hard to change the structure of the
Nigerian economy battered by several years of mismanagement.
He said: “We refused to
save for the rainy day. Now the rain is beating us. No money, no savings,
nothing. And we are thoroughly wet from the rains.”
He said Nigeria was
paying the price for turning herself into a mono economy, but assured that the
country would soon be able to feed herself, and even export, with the current
emphasis placed on agriculture.
Buhari assured that the
Federal Government would fast-track the implementation of strategies to ease
doing business and attract more investors into Nigeria.
The President added: “We
want to create jobs, and supporting manufacturing is one way to do it. As soon
as we have stabilized our budget, I would personally be interested in the
manufacturing sector, particularly in the generation of essential raw
materials.”
The Chief Global CEO of
Unilever said the conglomerate had been in Nigeria for 93 years, making it the
oldest manufacturing concern in the country.
He said: “Our products
are more Nigerian than other Nigerian brands. Despite the economic downturn,
there are opportunities to further advance our business here.
“The situation to invest and continue to invest here is very encouraging. Unilever had invested about ₦15 billion in Nigeria in the past three years.”
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