Federal government's 2016 National Budget will include fresh policies and measures aimed at encouraging the rapid diversification of the Nigerian economy away from its current over-dependence on the oil and gas sector.

This was disclosed by President Muhammadu Buhari on Monday when he met the leader of the Movement of the Enterprises of France (MEDEF), Mr. Pierre Gattaz and a delegation of French investors.

Buhari said that the policies being evolved by his administration to boost domestic manufacturing and attract greater investment to Nigeria's agricultural and mining sectors would be given full effect in the 2016 budget.


The President, therefore, urged Mr. Gattaz and the French trade mission, which includes over 50 companies with interest in manufacturing, agriculture, infrastructure development and other areas, to return to Nigeria again next year in order to take full advantage of the new policies.

‎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.


Agreeing that domestic security and the inflow of foreign investment were intrinsically linked, the President told the French investors, whose visit to Nigeria is a follow-up to his recent trip to Paris, 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," the President told the French investors.

He said Nigeria would also welcome additional 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.

The MEDEF President, who spoke on behalf of the French investors, sought assurances from President Buhari on the safety of their planned investments in Nigeria and the easing of bureaucratic bottlenecks.



http://www.authorityngr.com/2015/10/2016-budget-will-diversify-economy-from-oil-says-Buhari.html

The same way world oil prices has been stabilised by GMB and naira exchange rate equated to $1.

Anyways, next year's budget is but few months to come (that's if they have started to prepare it). Who will prepare it by the way, when there's no Minister of Finance and the National Planning Commission is without minister?

Show your certificate first mallam. What do you know about economics sir. This is not military era.

Two people above me still wailing!

Very good news we have here. It's time we do away with over dependence on "our oyel".

Nigeria is immensely blessed to be tied to just one economic resource.

googlepikin:
Show your certificate first mallam. What do you know about economics sir. This is not military era.

otil1:
The same way world oil prices has been stabilised by GMB and naira exchange rate equated to $1.
Anyways, next year's budget is but few months to come (that's if they have started to prepare it). Who will prepare it by the way, when there's no Minister of Finance and the National Planning Commission is without minister?

If you guys represent about 30% of the much hyped "leaders of tomorrow", it is save to conclude that the older generations (born in 40s and 50s) will continue to lead Nigeria for many years to come. It is the failure of the younger generations as represented by GEJ, Diezani, Farouk Lawan, Dimeji Bankole, Oduah, Abba Moro et al that has made us to go back to the past in PMB.

make una kontunu the wailing sha. Na una destiny.

Mat

I get sick every time I hear I'll, body language, mouth action,
For how long are we going to continue like this?

Didn't GEJ already do that? The agricultural revolution was a smash but you came and ruined it all..thanks for that

lol these e pigs are just crying for nothing
baba carry go ooo. God guide you sir!!!

googlepikin:
Show your certificate first mallam. What do you know about economics sir. This is not military era.

It is a shame to your kind of people for allowing a man who doesn't have a certificate to be your president.Where was your dad when PMB was campaigning?The ex president has PHD in what?He is still the most clueless president we ever had.I will keep saying it.You goats are like feathers in the air.You have no bearing nor direction.

liberty300:
Didn't GEJ already do that? The agricultural revolution was a smash but you came and ruined it all..thanks for that

lsqsjssshs bnmddkdddjdgdjjkzs"Laughing in japanese.

Will this man just shut up and come out with a policy direction? With the way the country is going, I hope the remains firms will not close shops before 2016

Diversified economy never occur over night. It starts with a political will and a sound economic blueprints

Please Oga do something that haven't been done. Stop this your copy copy.

Just check the content of your submission.

Very empty. Completely bereft of any idea, suggestion or critique.

why didn't some ppl find postinor d morning after.

PassingShot:
Very good news we have here. It's time we do away with over dependence on "our oyel".

Nigeria is immensely blessed to be tied to just one economic resource.



If you guys represent about 30% of the much hyped "leaders of tomorrow", it is save to conclude that the older generations (born in 40s and 50s) will continue to lead Nigeria for many years to come. It is the failure of the younger generations as represented by GEJ, Diezani, Farouk Lawan, Dimeji Bankole, Oduah, Abba Moro et al that has made us to go back to the past in PMB.

make una kontunu the wailing sha. Na una destiny.

Let's hope he can really achieve this. A good Nigeria will benefit us all

I have stopped believing in false hopes.

It is understandable that the administration's Economic Agenda will come into full force starting from 2016. But a sound Economic Team is needed comprising of Ministers of Finance, National Planning, Trade & Investments, Agriculture, etc.

It is my hope and belief that the 2016 budget will be much bigger than the 2015 one due to the effect of the TSA. I do also hope that CAPITAL will have a much higher percentage allocation than we have experienced lately.

Baba mouth action. All talk no action makes d dullaardd a dull man. Welcome to change limited. Made only in d zoo.

Simple model: diversify economy in 2016

@Bevista, allow me to agree and disagree with you.

First, I agree that it is good to sometime make excuses for a team you are passionate about, but I disagree with any effort to give hope that any economic agenda will ensue in 2006.

Here are my reasons:

1. It all starts from the head: what is General Buhari's professed (or stated) or expressed economic agenda? Answer -nil. He has said nothing, zilch! What is APC's economic agenda on which basis they convinced Nigerians to take over the helm of affairs of the nation? Answer -it is becoming clear that there is really none.

2. Expect nothing in 2016: Policy has a life cycle, starting from envisioning to formulation to execution to appraisal, a full circle. This takes time. So what will happen in 2016? Envisioning or planning or formulation or execution? Answer: nothing. Reason, see 3&4 below.

3. It takes a full budget season to take a new policy into execution: policy drives budgeting process and any policy not yet formulated before 2016 budget cannot be executed by implementing 2016 budget

4. Finally, it is scary: when the head of state is bereft of any economic ideals or vision and the political party in power has none, what do you predict? Now, mix in the body language or expressed language that ministers are noise makers, so GMB has no plan to listen to any policy agenda coming from bloody noise-maker civilians, what will you finally predict?

And guess what, the global economic outlook is clearly not favourable with all the predictions of ww3, Russia, America, Syria, Iran and Israel about to unravel.

It is scary Bros. Propaganda won't do it bros and better stop saying what they haven't said. Have the administration said that it's economic agenda will come in full force in 2016? So where are you drawing your strength from? Personal conviction or what?

Bevista:
It is understandable that the administration's Economic Agenda will come into full force starting from 2016. But a sound Economic Team is needed comprising of Ministers of Finance, National Planning, Trade & Investments, Agriculture, etc.

It is my hope and belief that the 2016 budget will be much bigger than the 2015 one due to the effect of the TSA. I do also hope that CAPITAL will have a much higher percentage allocation than we have experienced lately.