Buhari vows never to back down on Diversification

FILE PHOTO: Nigeria's President Muhammadu Buhari speaks during a meeting with his South African counterpart Cyril Ramaphosa, in Pretoria, South Africa, October 3, 2019. REUTERS/Siphiwe Sibeko/File Photo

President Muhammadu Buhari has reiterated his administration’s resolve to diversify the economy away from oil & gas to mining and agriculture, among others.

He restated his commitment at the 56th Annual International Conference and Exhibition of the Nigerian Mining and Geosciences Society (NMGS), which was held at the University of Ibadan in Oyo State capital. He said those sectors would become huge revenue spinners, create good jobs and wealth, he added.

Acknowledging the theme of the conference Responsible exploration and exploitation of mineral resources in a secured environment, Buhari described it as very apt and timely and in line with my administration’s vision and policy focus for the development and growth of the minerals sector.

He said the centrality of the development of the mineral and energy sectors in rejigging of the economy had necessitated the roll-out of policy initiatives aimed at not only revamping the economy, but also ensuring that the growth arising therefrom were inclusive and sustainable. “This means that we are not only interested in the macro-economic growth alone, but also in getting the growth to be felt by the most vulnerable groups of our citizens, who are usually left behind by the conventional economic models,’’ he added.

The President noted the role of professional bodies as partners in nation building, and that that informed his closeness to NMGS. He said the development of the roadmap for the mineral sector would not have been possible without getting critical details of the roadmap developed and sustained its implementation. “The roadmap provided a clear pathway for the development of a robust, resilient and sustainable mineral sector of the economy that contributes meaningfully to the nation’s GDP and most importantly provides jobs for the teeming army of the unemployed in the country,’’ he added.

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