Economic diversification remains my cardinal objective – Buhari

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(Last Updated On: 2016-10-12)

President Muhammadu Buhari has said that diversification of the Nigerian economy remained a cardinal point of his administration.

The President who spoke while declaring the 22nd Nigerian Economic Summit open in Abuja on Monday said there is the urgent need for Nigeria to focus on Made-in-Nigeria goods and services.

According to him, the greatest desire of the present administration is to move Nigeria from import dependence to self-sufficiency in local production and export-led economy in goods and service.

Buhari said: “I am also delighted that you have chosen as your theme: ‘Made in Nigeria’ which lies at the heart of so many of the efforts we are making to lead us through this troubled times and to lay a firm foundation for the future.    

He added: “As I have said in the past, we need to diversify the economy so that we never again have to rely on one commodity to survive as a country, so that we can produce the food we eat, make our own textile, produce most of the things we use and create the right environment for our young people to be able to benefit and create jobs through technology.

“There is clearly no better way to achieve this without building our economic foundation on made in Nigeria goods and services. Fortunately, we have champions of made in Nigeria that had defied the odds over the years to produce locally and contribute to our economy.

Also speaking at the event, Minister of Budget and National Planning, Mr. Udo Udoma explained that  the Federal Government is encouraging a ‘Made in Nigeria’ philosophy and preference in all its practices as part of ways to diversifying the country and take the country out of recession.

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