By Levinus Nwabughiogu ABUJA

President Muhammadu Buhari has said that Nigeria made a costly mistake by depending on oil as the mainstay of the economy.

The President said the country was in for the worst times for failing to save or diversify its economy, which had been greatly affected by the crash of oil prices.

Speaking while bidding the outgoing Iranian Ambassador to Nigeria, Mr. Saeed Koozechi, farewell in Abuja, President Buhari said he was convinced that with greater diligence, hard work and patriotic determination, Nigeria would achieve self-sufficiency in most of the goods on its import list. He said his government is vigorously pursuing the diversification project. “We made a terrible mistake by becoming a mono-product economy hinged on oil and we are now in a volatile situation, due to the crash in oil prices. “We have seen the benefits of diversification which helped Iran to survive many years of sanctions and still come out strong. We are now fully committed to economic diversification,” he said.

Read more at: http://www.vanguardngr.com/2016/05/dependence-oil-nigerias-costly-mistake-buhari-2/

But he's still exploring oil

Diz man sef

Abeg go treat yourself come back b4 u go cause wahala for us in diz con3

Kondomatic:
But he's still exploring oil

Don't mind these hypocrites. Let them let ND go if they think oil is nothing to be dependent on.

ok

Old story! Finally all Nigerian have been blame by APC.

The only 'impact of costly mistake' u ve made since Nigerians made u President is this same oil...
This 'we will' govt sef now blames Nigerians too. Scammers no dey last...ask Rev King.

Oil is what binds the entity Nigeria. The north is known for farming how much has it contributed to GDP. The government should bring out policies to tax farmers. I think the Government should get royalty tax from them just like oil. The equation would be balanced.

Then why is he wasting N40 billion in oil exploration in the North?

That money should have been invested in Agriculture if he is truly being sincere

Kondomatic:
But he's still exploring oil

That is the level of is cluelessness, since is inception in office what has he done to divesify the economy except making useless trip all around the world

I bet my last kobo that the time he leaves officer Nigeria will be over-dependent on oil. Talking as if he knows what to do ...

Kondomatic:
But he's still exploring oil

my brother we must explore even if it is the one we consume, the problem is not exploration but over depence on it.

Kondomatic:
But he's still exploring oil

my brother we must explore even if it is the one we consume, the problem is not exploration but over depence on it.

hw wants to diversify from oil but has no clue

#MegrimorDonCome. Everything about Buhari is a mistake. Even his name!

[s]

brownlolly:
By Levinus Nwabughiogu ABUJA

President Muhammadu Buhari has said that Nigeria made a costly mistake by depending on oil as the mainstay of the economy.

The President said the country was in for the worst times for failing to save or diversify its economy, which had been greatly affected by the crash of oil prices.

Speaking while bidding the outgoing Iranian Ambassador to Nigeria, Mr. Saeed Koozechi, farewell in Abuja, President Buhari said he was convinced that with greater diligence, hard work and patriotic determination, Nigeria would achieve self-sufficiency in most of the goods on its import list. He said his government is vigorously pursuing the diversification project. “We made a terrible mistake by becoming a mono-product economy hinged on oil and we are now in a volatile situation, due to the crash in oil prices. “We have seen the benefits of diversification which helped Iran to survive many years of sanctions and still come out strong. We are now fully committed to economic diversification,” he said.

Read more at: http://www.vanguardngr.com/2016/05/dependence-oil-nigerias-costly-mistake-buhari-2/

[/s]


Trash, always looking for excuse!

Uduak2019:


Don't mind these hypocrites. Let them let ND go if they think oil is nothing to be dependent on.

Are d only one producing oil?

Oladimejyy:
Are d only one producing oil?

megrimor:
#MegrimorDonCome. Everything about Buhari is a mistake. Even his name!

Hypertension kills

sanandreas:
Oil is what binds the entity Nigeria. The north is known for farming how much has it contributed to GDP. The government should bring out policies to tax farmers. I think the Government should get royalty tax from them just like oil. The equation would be balanced.

They should tax the farmers? You must be kidding! We need a lot to be done in agriculture. Don't you know tax will discourage people from going into farming? All we need right are policies that will encourage people to see opportunities in agriculture sector.

It is a costly mistake no doubt, but it can be rectified. You are in office to correct some of these mistakes, isn't that why your campaign was anchored on CHANGE?
There are no tell-tale signs yet that the mistake is about to be corrected. A whooping amount was just budgeted to look for more oil while agriculture got a paltry amount. This, Sir, further yokes us to the inclement nature of the oil market rather than weans us from it.

Uduak2019:


I don't like yorubaa people replying me. STOP!

Wicked

emerged01:


They should tax the farmers? You must be kidding! We need a lot to be done in agriculture. Don't you know tax will discourage people from going into farming? All we need right is are policies that will encourage people to see opportunities in agriculture sector.

The government need money

All is well

Uduak2019:


Don't mind these hypocrites. Let them let ND go if they think oil is nothing to be dependent on.

What he means is that Nigeria should have over the years used the cash from Oil boom to diversify the economy, by now we for no care about oil money again,

sanandreas:


The government need money

There is shortage of food. Citizens need food.

oga bubu can u please shut your smelling mouth for once, you say one thing and do the other. you think everybody is a zombie you can easily deceive with cheap lies. the truth is if our oil dries up today, ur sick bone dries up with it.