Buhari: We’re much hit by oil price crash
President Muhammadu Buhari has said that the Nigeria’s economy has been adversely affected by the drop in the global oil prices.
President Buhari disclosed this at the Aso Rock Presidential Villa in Abuja yesterday while receiving the outgoing South Sudanese Ambassador to Nigeria, Ambassador Makuet Riak.
Buhari, who noted that Nigeria’s economy had been heavily dependent on oil over the years, advised South Sudan to look beyond oil in growing her economy.
President Buhari stressed that South Sudan could avoid the mistake made by Nigeria in her over-reliance on oil revenue.
He specifically urged the South Sudanese government to invest more in agriculture and not to be solely dependent on oil revenues to grow the nation’s economy.
“Investing in sustainable agriculture is one of the best ways to provide jobs for the people and keep the nation productive. Food security is important to any country, and that is what we are trying to achieve here, years after we threw away agriculture for oil”, Buhari said.
In his remarks, Ambassador Riak said his four-year duty tour as his country’s first ambassador to Nigeria was very fruitful.
He noted that his country was blessed with fertile land and would welcome more investments from Nigerian companies.