The days of Nigeria as a big oil producer with plenty of money are gone – Buhari

26 February 2016, Abuja – President Muhammadu Buhari Thursday in Mecca stated that the Nigeria that was seen a big producer of oil had gone, stating that the country needed all the support from interesting partners to diverse and develop her economy.

Buhari 1

President Buhari

The president made the disclosure while sanctioning an offer by the Islamic Development Bank (IDB) to organise a financing roundtable in Abuja aimed at raising more funds for investment and development of infrastructure in Nigeria. The president spoke at a meeting with the President of the IDB, Dr. Ahmed in Saudi Arabia.

“The days of Nigeria as a big oil producer with plenty of money are gone. We need all the support we can get to diversify our economy as quickly as possible. “We also need to rehabilitate our infrastructure, develop the domestic capacity to feed ourselves and export the surplus,” he said.

Speaking earlier, Dr. Ali assured President Buhari that the IDB would work with its traditional partners such as the Saudi Fund, the Kuwait Fund, Arab Bank for Development in Africa and the Abu Dhabi Fund, to increase the quantum of funding available to Nigeria.

A statement by the presidential spokesman, Mallam Garba Shehu also added them President Buhari also “welcomed the plan by the IDB to fast track the take-off of the Bilingual Education Programme, aimed at integrating the Almajiri system of education with Western education in Nigeria.”

The recalled that the “The IDB has already provided US$ 98 million for the Bilingual Education Programme in Adamawa, Gombe, Kaduna, Kano, Kwara, Nasarawa, Niger, Osun and Yobe. The bank plans to support similar projects in other states of Nigeria.”.


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