President Buhari Laments Dwindling Oil Fortune

President Muhammadu Buhari on Tuesday lamented that Nigeria is currently experiencing a shaky economy, admitting that the country was disorganised as a result of dwindling oil fortunes.
In a statement by his Special Adviser on Media and Publicity, Femi Adesina said, the President spoke while receiving British members of Parliament led by Nigerian-born Chi Onwurah at the Presidential Villa, Abuja.
He was quoted as having solicited the support of Britain in his administration’s efforts to rebuild the country, adding there were vast opportunities for Britain in Nigeria.
He also said both countries share close ties over a long period of time
According to the statement, “We are disorganised because we relied on mono-economic product for too long, and now that oil price is down, we have to go back to agriculture and solid minerals. Tin, columbite, cocoa, groundnut, and others, used to be the basis of our economy, but then, oil came, and everybody began to look for cheap money. Now, we need to start all over again,” the President reportedly said.
Onwurah, Nigerian-born MP for Newcastle, said the team was in the country to promote positive engagement between Nigeria and the UK. “We are stronger when we build on ties of the past,’’ she said.
She said her team was interested in how the Diaspora could support the economic progress of Nigeria, as well as promotion of trade and diversification of the economy.
The delegation, made up of three MPs, was accompanied by the British High Commissioner to Nigeria, Mr Paul Arkwright.

Author: News Editor

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