16 February 2016, Abuja – President Muhammadu Buhari on Tuesday admitted that Nigeria is currently disorganised as a result of drop in oil price because the country relied on mono-economic product for too long.
According to a statement by his Special Adviser on Media and Publicity, Mr. Femi Adesina, the President spoke while receiving a team of British members of Parliament led by Nigerian-born Chi Onwurah at the Presidential Villa, Abuja.
Buhari was quoted as lamenting that Nigeria has found herself in a phase of development which is not a very welcome one.
He therefore solicited the support of Britain in his administration’s efforts aimed at rebuilding the country.
He said his administration would rebuild Nigeria and there are vast opportunities for Britain because the two countries share close ties.
He said Nigeria’s expectation from Britain is high.
“We are disorganised because we relied on mono-economic product for too long, and now that oil price is down, we have to go back to agriculture and solid minerals. Tin, columbite, cocoa, groundnut, and others, used to be the basis of our economy, but then, oil came, and everybody began to look for cheap money. Now, we need to start all over again,” the President reportedly told his guests.
Onwurah, who is the MP for Newcastle, said the team was in the country “to promote positive engagement between Nigeria and the UK, since we are stronger when we build on ties of the past.”
She said her team was interested in how the Diaspora can support the economic progress of Nigeria, as well as promotion of trade and diversification of the economy.
The British High Commissioner to Nigeria, Mr. Paul Arkwright was also part of the delegation.