2016 Budget, less dependence on oil –Buhari

President Muhammadu Buhari has disclosed that the 2016 national budget will include fresh policies and measures to encourage the rapid diversification of Nigeria’s economy from dependence on the oil and gas sector.

Buhari further disclosed that the policies being evolved by his administration in the new budget, would boost domestic manufacturing and attract greater investment to Nigeria’s agricultural and mining sectors.

He made the disclosure during an audience with the President of the Movement of the Enterprises of France (MEDEF), Mr. Pierre Gattaz and a delegation of investors from France.

The French investors’ visit to the country is a follow-up to the President’s recent trip to Paris.

Buhari urged the French Trade Mission, which includes over 50 companies with interest in manufacturing, agriculture, infrastructure development among others, to return to Nigeria next year in order to take full advantage of the new policies.

President Buhari also assured the French investors that under his leadership, Nigeria will not fall short of international standards in the protection of foreign investments and the repatriation of returns on such investments.

Noting that domestic security and the inflow of foreign investment were intrinsically linked, he assured that the Federal Government was taking all necessary measures to overcome Nigeria’s security challenges.

“Our government came into office at a time when many people had abandoned the country’s manufacturing, agricultural and mining sectors. We are doing our utmost best to encourage diversification into these sectors which can employ a lot of people and we will welcome your support in this regard.

“Ultimately, reducing unemployment will also help to improve security because unemployment and insecurity are inseparable,” he told the French investors.

The President said Nigeria will also welcome more French investment in its power sector because availability of steady power supply will lead to the reopening of closed factories and the creation of more jobs. He also assured the delegation that his administration was tackling corruption with vigour to ensure greater probity in the management of national resources.

Earlier, according to a statement by the Senior Special Assistant on Media and Publicity, Garba Shehu, the MEDEF president, had sought assurances from President Buhari on the safety of their planned investments in Nigeria and the easing of bureaucratic bottlenecks.