Budget for 2016 will reflect our plans to boost and diversify the economy – Buhari

President Muhammadu Buhari on Monday announced that the 2016 national budget being prepared by his administration will include “fresh policies and measures to encourage the rapid diversification of the Nigerian economy” which many stakeholders had always complained was overly dependent on the oil and gas sector.

In a statement signed by the president’s senior special assistant on media and publicity, Mallam Garba Shehu, the president is said to have made the disclosure during his meeting on Monday with president of the Movement of the Enterprises of France (MEDEF), Mr Pierre Gattaz and a delegation of French investors.

President Buhari stated that policies being evolved by the federal government to boost domestic manufacturing and attract greater investment to Nigeria’s agricultural and mining sectors will be given full effect under the 2016 budget.

The president, according to the statement, equally urged Mr Gattaz and the French trade mission comprising over 50 companies with interest in manufacturing, agriculture, infrastructure development and other areas, to return to Nigeria in 2016 to take full advantage of the new policies.

President Buhari similarly assured the French investors that his administration will ensure the protection of their investments, just as it is working to ensure maximum security of lives and property in the country.

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.

The visit of the French investors is said to be a follow-up to President Buhari’s recent trip to France during which he held meetings with French President Francois Hollande on security and economy. Buhari similarly held meetings with members of the business community during his visit to France.