President Muhammadu Buhari has decried the state of the economy stating failure by past leaders to plan ahead and save is the reason for the present economic crisis Nigeria faces.
Buhari made this known when he received the Chief Global CEO of Unilever Corporation, Mr. Paul Polman.
Buhari also stated that lack of technical know-how and mismanagement of revenues accrued from crude oil sales has resulted in decay in critical infrastructure.
He however assured better days ahead, stating that his administration was putting measures in place to change the structure of the Nigerian economy battered by several years of mismanagement.
According to the President, “We refused to save for the rainy day. Now the rain is beating us. No money, no savings, nothing. And we are thoroughly wet from the rains.
“We want to create jobs, and supporting manufacturing is one way to do it.
“As soon as we have stabilized our budget, I would personally be interested in the manufacturing sector, particularly in the generation of essential raw materials.”
He assured that his Government would accelerate the execution of tactics to ease performance in businesses and hence attract foreign investors into the country
In response, the Paul Polman stated that Unilever has operated in Nigeria for 93 years and counting, making it one of the earliest and foremost foreign firms operational in Nigeria.
“Our products are more Nigerian than other Nigerian brands. Despite the economic downturn, there are opportunities to further advance our business here.
“The situation to invest and continue to invest here is very encouraging,” Mr Polman stated.