- President Muhammadu Buhari on Thursday said the need to rapidly move away from dependence on crude oil exports for economic survival remains top on the priority of his administration.
- He promised to work more closely with other countries being affected by the sharp decrease in oil prices to find a way around the situation.
- A statement by his Special Adviser on Media and Publicity, Mr. Femi Adesina, quoted the President as speaking, while granting audience to the new Ambassador of Saudi Arabia to Nigeria, Mr. Fahad Sefyan, who was in the Presidential Villa, Abuja, to present his letter of credence.
- He said his administration remained fully committed to faster development of non-oil sectors and the speedy diversification of the country’s economy.
“For more than 30 years, Nigeria has depended on oil as its major source of revenue at the expense of agriculture and the non-oil sector which could be the mainstay of our economy.
“As oil exporting countries facing similar challenges due to the down turn in the international price of crude oil, we should be working closer together.
“Saudi Arabia has done excellently in manufacturing, building of infrastructure and exploration of solid minerals and I believe that greater bilateral cooperation between us in this regard will be mutually beneficial,” the President reportedly told the new Ambassador.