The Federal Government is determined to significantly reduce the high bill for importation of food products to Nigeria.
President Muhammadu Buhari spoke on Saturday at a bilateral meeting with the Prime Minister of Denmark, Mr Lars Rasmussen, in Washington.
Buhari also said that his administration’s currently focusing on rapid diversification of Nigerian economy.
According to Buhari, “We developed a mono-product economy and lost opportunities to diversify in the past.
“We have great potential for agriculture and solid minerals; we are now determined to exploit them to the fullest,’’
Addressing the past neglect of these two sectors will help to reduce unemployment and make Nigeria a more productive country.
“We will welcome more investment in our agriculture and solid minerals sectors from countries with expertise in the two sectors.
“We abandoned them for petroleum; now, we have to go back.
“Our bill for the importation of food and dairy products is very high.
“We want to cut it as much as possible by developing our local potential,” the President said.