President Muhammadu Buhari on Monday lamented that Nigeria refused to save for the rainy day, noting that the rain is now beating us. “And we are thoroughly wet from the rains”.
This is as he said that he was projecting an export driven economy once the Nigerian economy can effectively sustain itself in food production.
President Buhari said this at the Presidential Villa, Abuja when he played host to the Global Chief Executive Officer of Unilever, Paul Polman, who came on a courtesy call.
According to the president, his administration was working hard to change the structure of the Nigerian economy battered by several years of mismanagement, adding that Nigeria was paying dearly for incompetence in managing high revenue that accrued from sales of oil.
“I think that the country would soon be able to feed herself and even export with the current emphasis placed on agriculture.
“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.
“The Federal Government would fast-track the implementation of strategies to ease doing business and attract more investors into Nigeria.
“We want to create jobs, and supporting manufacturing is one way to do it. As soon as we have stabilised our budget, I would personally be interested in the manufacturing sector, particularly in the generation of essential raw materials,” the president said.
Unilever’s CEO, Polman, told the president that the conglomerate had invested about N15 billion in Nigeria in the past three years.
He said Unilever had been in Nigeria for 93 years, making it the oldest manufacturing concern in the country.
“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 noted.


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  1. February 17, 2024

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