President Muhammadu Buhari has insisted Nigeria is suffering from the incompetence of the past administration in managing high revenue that accrued from oil.
According to a statement by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, the president spoke at the State House, Abuja, on Monday while receiving the Chief Global CEO of Unilever, Mr Paul Polman.
President Buhari said his administration was working very hard to change the structure of the Nigerian economy battered by several years of mismanagement.
“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,” he said.
Buhari further said that the country was paying the price for turning itself into a mono economy. However, he assured that the country would soon be able to feed herself, and even export, with the current emphasis placed on agriculture.
He said further: “We want to create jobs, and supporting manufacturing is one way to do it. As soon as we have stabilized our budget, I would personally be interested in the manufacturing sector, particularly in the generation of essential raw materials.”