President Muhammadu Buhari says investments in improving security are yielding good dividends while praising the military for making progress and developing momentum in addressing challenges.
Speaking at the Nigeria International Economic Partnership Forum, which was held on the sidelines of the 77th United Nations General Assembly in New York, President Buhari pledged that Nigeria would do more to improve security while recognizing that the sector was a critical component in the flow of investment and development.
President Buhari further stated that, despite the global crisis exacerbated by the Ukraine-Russian war, the persisting COVID-19 pandemic, and insurgency in some regions of the country, Nigeria remained on track to reclaim its due place in the world economy.
He credited the country’s success to the adoption of reforms aimed at attracting foreign investment and long-term development in governance.
The President, however, admitted that more has to be done to increase private capital flows into Nigeria through Foreign Direct Investment and infrastructure funding, and stated that th e government was addressing this through the Integrated National Financing Strategy.
Concerning non-oil sector growth, Buhari said the agriculture sector, in particular, had remained resilient in the face of security concerns, inadequate irrigation, limited inputs, and legacy infrastructure difficulties, with robust food demand sustaining growth.
On the domestic front, President Buhari stated that the Federal Government was taking strong, decisive, and urgent action to address revenue underperformance and enhance operations in order to make investing in Nigeria more appealing.
Read the full statement here
Writing by Abdullah Bello; editing by Hadiza Abdulrahman and Saadatu Albashir