The Federal Government has concluded plans to cut down heavily on food importation. President Muhammadu Buhari stated this Saturday during a bilateral meeting with the Prime Minister of Denmark, Mr. Lars Rasmussen in Washington DC.
The President said food importation was costing government huge sums that could be deployed to development of critical infrastructure in other sectors of the economy.
Buhari noted that his administration is determined to significantly reduce the very high bill for importation of food products to Nigeria.
He also reaffirmed his administration’s commitment to the rapid diversification of Nigeria’s economy.
“We developed a monoproduct economy and lost opportunities to diversify in the past. We have great potentials for agriculture and solid minerals. We are now determined to exploit them to the fullest.” “Addressing the past neglect of these two sectors will help to reduce unemployment and make us a more productive country, the President said.
“We will welcome more investment in our agriculture and solid minerals sectors from countries with expertise in the two sectors. We abandoned them for petroleum. Now, we have to go back.
“Our bill for the importation of food and dairy products is very high. We want to cut it as much as possible by developing our local potentials,” Buhari told Rasmussen. President Buhari assured the Danish Prime Minister that the Federal Government will continue to work in partnership with other countries to further improve maritime security in the Gulf of Guinea.
He said that his administration was determined to stop the huge loss of revenue from crude oil theft and has received assurances of international support to curb illegal shipments of Nigeria’s crude oil. Remarking that his country is a major shipping nation, Rasmussen thanked Buhari for Nigeria’s current efforts to enhance security in the Gulf of Guinea.