Author Topic: Economic policies: US backs President Buhari  (Read 29 times)

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Offline Goodiez Chibuike Nwachukwu

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Economic policies: US backs President Buhari
« on: October 19, 2016, 05:15:22 PM »
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– United States envoy, Peter Barlerin, says efforts at diversifying Nigeria’s economy into non-oil export will make the nation’s export more attractive to America and the rest of world

– Barlerin commends Buhari’s efforts in trying to improve the Nigeria’s economic condition
 
– The US envoy discloses plans by the US to increase two-ways trade and investments with Nigeria

The US commends Buhari’s efforts in trying to improve the Nigeria’s economic condition.

United States has commended efforts by the President Muhammadu Buhari administration in diversifying Nigeria’s economy into non-oil export.

The US deputy assistant secretary, West Africa and Economic and Regional Affairs, Peter Barlerin, on Tuesday, October 18, said diversifying Nigeria’s economy into non-oil export would make the nation’s export more attractive to America and the rest of world.

Barlerin, according to Leadership, disclosed that the US was considering increasing direct investment in Nigeria.

The US envoy said that the commencement of Shale oil and gas production in the U.S. in the last 10 years had changed American’s economy, making it no longer a major importer of oil, especially from Nigeria.

“It (the revolution) impacted on the oil export from Nigeria. I think this gives an opportunity to Nigeria to diversify the economic and deepen our economic relationship in other ways,” he said.
According to Barlerin, Nigeria’s economy just like that of other countries had been significantly impacted by the decline in oil price and commended Buhari’s efforts in trying to improve the country’s economic condition.

“We believe that such efforts would be helpful for the economy because it will make Nigerian exports more attractive to the region, the U.S. and the rest of world,” he said.

“It will help Nigerian economy as it would no longer depend on oil as it did in the past. A number of sectors in Nigeria are promising; there are lots of promising exports potential in the services industry, in fashion industry, agriculture and other sectors.”

Barlerin said that U.S. would try to increase two-ways trade and investments with Nigeria to deepen the trade relations between the two countries.

Meanwhile, ex-president Chief Olusegun Obasanjo on October 18 stated that President Muhammadu Buhari is not responsible for the solving the problem of the continual clashes between Fulani herdsmen and farmers, the Punch reports.

The former leader was speaking during the 23rd Annual LAPO Development Forum with the theme, ‘Food Security and Sustainable Agriculture in Nigeria: Challenges and Opportunities’, organised by the Lift Above Poverty Organisation in Abuja.

Obasanjo also criticised the increasing level of hunger in Nigeria, underlying that it was sad to note that about 65 % of the residents of the country were faced with food insecurity.

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