Nigeria re-strategizes to boost agro investments

Speaking at the opening ceremony of the Intra-African Trade Fair 2021 at Durban South Africa on Monday, Buhari said Nigeria has made significant strides in diversifying her economy from relying on oil revenue.

“In the past five years, Nigeria has made significant strides towards the diversification of her economy from an oil revenue dependent country to a nation with diverse revenue sources.

“We were able to achieve this by putting in place fiscal, monetary and trade policies that support investments and investors in key sectors such as Agriculture, Mining, Telecommunications and Digital Economy, Banking and Financial services, tourism, and manufacturing,” the president said.

Speaking on the African Continental Free Trade Area (AfCFTA), Buhari said Africa has started its collaborative journey towards collective economic prosperity through the agreement.

“Through these gatherings, we will be laying a solid foundation for future business-to-business, business and government, and government to government co-operation,” he added.

He identified the inability to domesticate the production of most basic requirements to provide jobs for the teeming and dynamic youth population, as one of the challenges bedevilling the African nations.

Under the AfCFTA, the President affirmed that Africa can double its intra-Africa trade by 2030, reduce reliance on imports and therefore create more jobs in the continent.

“We cannot achieve this goal by talking alone. The implementation will be a difficult journey. But all challenges are surmountable if both the public and private sectors collaborate,” he added

source agronigeria