Why Nigerians are suffering – Buhari shares reasons

President Muhammadu Buhari says Nigeria is paying dearly for incompetence in managing high revenue that accrued from oil, particularly over the past decade, and for allowing the decay of critical infrastructure.

Muhammadu_Buhari
Speaking at the State House, Abuja on Monday, while receiving the Chief Global CEO of Unilever, Paul Polman, the President said his administration is working very hard to change the structure of the Nigerian economy battered by several years of mismanagement.

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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.”

President Buhari 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.

He assured that the Federal Government would fast-track the implementation of strategies to ease doing business and attract more investors into Nigeria.

He said: “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.

Polman 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.”
Polman added that Unilever had invested about N15 billion in Nigeria in the past three years.

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13 Comments

  1. Many Nigerians are so myopic in thinking, just like the first 2 comments; Even some who called themselves wise men, educated and religious leaders.
    Don’t you all know that you reap what you sow?
    I have the believe that Nigeria will gain back her glory come what may.

  2. We already know they were incompetent and that is why you were elected to fix. You were not elected to check and tell us how bad it is. Please lets get to work and fix the issue. Enough of side talks. A lot of People are dying of hardship in this country.

  3. Nigeria is on the right path.The president’s blockage of multiple drain pipes combined with a concerted efforts on diversification would take Nigeria out of doldrums.
    For those insulting the president the Atlantic ocean is ready to play host to them.

  4. Faith is the ultimate! Things will soon get better in Nigeria that I personally believe. For those calling the Present names , don’t u have elders in ur kindred? Or should I say that you lack home training.

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