President Muhammadu Buhari has finally admitted that Nigeria is in a state of disorganization and pressure as a result of falsely relying on mono-economic product.
President Muhammadu Buhari has finally admitted that Nigeria is in a state of disorganization because of the rapid drop in oil price after his government had relied on mono-economic product. He made the disclosure on Tuesday.
According to a statement credited to his Special Adviser on Media and Publicity, Mr. Femi Adesina, the President spoke while receiving a team of British members of Parliament led by Nigerian-born Hon. Chi Onwurah at the Presidential Villa, Abuja.
Buhari lamented the countries misfortune as the price of oil continues to drop and the sudden drop in the value of naira. He begged that all Nigerians home and abroad to join hands in rebuilding Nigeria.
“We are disorganised because we relied on mono-economic product for too long, and now that oil price is down, we have to go back to agriculture and solid minerals. Tin, columbite, cocoa, groundnut, and others, used to be the basis of our economy, but then, oil came, and everybody began to look for cheap money. Now, we need to start all over again,” the President reportedly told his guests.
Onwurah, who is the MP for Newcastle, said the team was in the country “to promote positive engagement between Nigeria and the UK, since we are stronger when we build on ties of the past.”
She gave the president the assurance that her team are in Nigerian to help support in anyway possible. She placed emphasis on promotion of trade and diversification of the economy. Onwurah came in the company of the British High Commissioner to Nigeria, Mr. Paul Arkwright.