2016 budget: Expect fresh economic policies – FG
President Muhammadu Buhari says his government is currently preparing the 2016 national budget that will include fresh policies and measures aimed at encouraging rapid diversification of the economy.
He emphasised that the fresh policies would be given full effect in the 2016 budget and would be a departure from the nation’s current over-dependence on the oil and gas sector.
The president was speaking at the Aso Rock Presidential Villa in Abuja yesterday while receiving a delegation of French investors, the Movement of the Enterprises of France (MEDEF), led by its president, Mr. Pierre Gattaz.
The French investors’ visit to Nigeria was a follow-up to President Buhari’s recent trip to Paris.
The president said the new policies would boost domestic manufacturing and attract greater investment to Nigeria’s agricultural and mining sectors.
He urged Gattaz and the French trade mission, comprising over 50 companies with interest in manufacturing, agriculture, infrastructure development and other areas, to return to Nigeria next year and take full advantage of the new policies.
Buhari assured Nigerians that under his leadership, the country would not fall short of global standards in the protection of foreign investments and the repatriation of returns on such investments.
President Buhari affirmed that domestic security and the in-flow of foreign investment were intrinsically linked.
He said that his administration was taking all necessary measures to overcome the current security challenges in the country.
The president also said that the Federal Government was tackling corruption with vigour in order to ensure greater probity in the management of national resources.
Buhari said he assumed office at a time when many people had abandoned the nation’s manufacturing, agricultural and mining sectors.
The president said Nigeria would also welcome more French investments in the power sector as availability of steady power supply would help to reopen closed factories and create more jobs.
Earlier, Gattaz had sought Buhari’s assurances on the safety of his group’s planned investments in Nigeria as well as on the easing of bureaucratic bottlenecks.
President Muhammadu Buhari (right), receiving a document from the President, French Business Confederation, Mr Pierre Gattaz (left) during a meeting at the Presidential Villa in Abuja yesterday. With them is the French Ambassador to Nigeria, Mr Dennys Guer.