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FG to build synergy with private sector to diversify economy —Buhari

By Chris Ochayi

ABUJA— President Muhammadu Buhari, weekend, reiterated his administration’s commitment  to diversify the nation’s economy from its present over-dependence on the oil sector to manufacturing and agriculture by building synergy with organized private sector.


President Buhari, who made the remarks at the commissioning of the N5.6 billion Nestle Nigeria Water factory at Abaji, Federal Capital Territory, FCT, said government was ready to encourage the growth and expansion of organised private sector to achieve government policies and programmes.

Buhari, who was represented by Vice President, Prof. Yemi Osinbajo, emphasised the readiness of the administration towards making the collaboration effective.

According to him, the 2016 budget clearly details a robust road map for business expansion and growth using the involvement of the organized private sector for diversification of the economy.

He said government would, through the Public Private Partnership, PPP, initiative encourage the private sector to excel by providing an enabling macro-economic environment and the necessary infrastructure that would drive business growth.

The President noted that Nigeria was increasingly becoming the destination for foreign investors.

On the attraction of foreign investors to the country, he alluded to the fact that Nigeria was not just known for its economic viability and market but it’s diversity in terms of human resource and natural endowment.

He admitted, though, that there were challenges to doing business, noting that government was committed to providing the private sector the ease to do business while growing the economy.

He urged corporate organizations to emulate Nestle for their contributions in the growth and development of the country’s economy since independence.

He said: “I’m told that the citing of this water factory will not doubt empower the locality while contributing to the development of Nigeria.

“This investment reflects the truth to which Nestle is known in the manufacturing of food beverages all over the country.

“Nigeria will indeed be a better place if corporate organizations take interest in not what they can get from the local environment but provide the environment in which they are doing business with some form of corporate social responsibilities.”

The President stressed further that government was delighted that the water factory would provide empowerment to Abaji, adding that this supported government’s policy in employment generation and wealth creation.



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