Buhari: Why I’m revitalising the economy

President Muhammadu Buhari, yesterday, in Monrovia, Liberia, said his administration has instituted policies aimed at diversifying Nigeria’s economy.

According to a statement signed by his Senior Special Assistant on Media and Publicity, Garba Shehu, Buhari, while speaking on the occasion of Liberia’s 172nd independence anniversary, specifically said his administration’s economic and recovery growth plan since 2017 was already yielding fruits, creating the enabling environment for growth, security and economic rejuvenation for the country.

He stated: “Our government had to adopt appropriate measures, including diversification and reforms, to address such underlying causes exemplified by our continued dependence on a single commodity- crude oil- lack of fiscal buffers, leakages, corruption and high governance costs.

“Furthermore, in our efforts to stimulate the economy, our government initiated bold policy interventions that are beginning to yield positive results.”The President, who was honoured at the occasion with the country’s highest award as the Most Venerable Order of the Knighthood of the Pioneers of the Republic of Liberia with Grade of the Knight Grand Cordon, said he accepted the award on behalf of all Nigerians and as a tribute to all our country men who paid the supreme price in aid of Liberia’s unity and stability.

He appreciated the people of Liberia for the award and expressed his resolve to continue to strengthen cooperation within the sub-region, adding: “This gesture can only strengthen my resolve to re-dedicate myself to the service of my country and work for the prosperity of our people in the sub-region.”

He also urged his Liberian counterpart, George Weah, to take actions that would stimulate the economy of the country, saying: “Mr. President, Liberia under your leadership may wish to learn from our experience by taking courageous steps to diversify its economic base by developing the productive sector that would complement earnings from rubber, iron ore and the increasingly dwindling funds from development partners.

“In this regard, the need for proper management of human resources and investment in agriculture, solid minerals and other sectors, such as tourism, where the country has comparative advantage, cannot be overstated.”Weah, in his remarks, said the award was in recognition of all Nigeria has done to assist Liberia, adding: “This country with the longest history of independence, but couldn’t hold together and was helped majorly by Nigeria, with everything, armed forces and resources, to help them to remain as one united people.“It is also in recognition of Nigeria’s support for Liberia to rebuild. President Buhari has offered 50 technical aid corps to Liberia and has promised many more, in case there is need.”