President Muhammadu Buhari reaffirmed Wednesday in Abuja that his administration is fully committed and determined to do all within its powers to achieve the rapid diversification of Nigeria’s economy in the shortest possible time.
Speaking at a farewell audience with the outgoing Iranian Ambassador to Nigeria, Mr. Saeed Koozechi, President Buhari said he was convinced that with greater diligence, hard work and patriotic determination to achieve self-sufficiency, Nigeria can produce most of the items currently on its import list.
Femi Adesina, Special Adviser to the President on Media & Publicity quoted the President as saying; “We made a terrible mistake by becoming a mono-product economy hinged on oil and we are now in a volatile situation, due to the crash in oil prices.
“We have seen the benefits of diversification which helped Iran to survive many years of sanctions and still come out strong.
“We are now fully committed to economic diversification. Most of the things on our import bills can be produced here. And we are determined to achieve that self-dependency,” President Buhari told the outgoing envoy.