World Economy

Nigeria Preparing New Policies

Nigeria Preparing New PoliciesNigeria Preparing New Policies

President Muhammadu Buhari says his administration will gladly reverse or abandon some inherited economic policies, if doing so will lead to the creation of more jobs for Nigerians.

Talking to executive members of the Manufacturers Association of Nigeria, in the Presidential Villa, Abuja on Monday, Buhari directed the ministries of industries, trade and investment and finance as well as the central bank and other relevant government agencies to evolve before next year’s new  budget policies to boost domestic manufacturing, News Agency of Nigeria reported.

“We are in difficult times economically, but we’ll continue to do our best for manufacturing to pick up. We must begin to behave as if we have no oil at all. We will gladly have policy somersaults, if it will mean more jobs, particularly for youths”.

He lamented that the textile industry that employed about 320,000 people in the past but only paraded about 30,000 now. “It shows the carelessness of past governments, if almost 300,000 people lose jobs in a single sector”.