President Muhammadu Buhari warned Indians against shipping sub-standard and fake food and medicine to Nigeria, saying his government would not allow that. Conversing with the Chief Executives of Indian companies with interests in Nigeria, in New Delhi.
President Buhari assured that Nigeria’s economy was doing well despite the fall in oil prices. he continued saying with the abundance of human and material resources, the Nigerian economy does not have to suffer from low oil prices.
He stated that his administration remain focused on maintenance of macro-economic stability and improving investor confidence in Nigeria.
''what is required of us, to which we are strongly committed, is the implementation of tight expenditure controls, effective fiscal and monetary policies, including the husbandry of scarce resources which our introduction of the single Treasury Account has began''.
''we are aware some of these measures may hurt operations of some businesses in the short term, but we believe they are right for a sustainable economy'' said president Buhari.
President Buhari said that India has been an ally and friend of Nigeria and he urges the Chief Executive to extend their companies' investments in Nigeria ''so that we can, together, turn our engagements into a win-win situation for our two countries”.
Also he asked the country to increase its trade volume with Nigeria in the areas of infrastructure, agriculture, information and communication technology; amongst others to exceed the current US$16.36 billion.
“We can increase and diversify the current volume of our bilateral trade beyond US$16.36 billion, and diversify to other critical sectors such as agriculture; green technologies in power generation; infrastructure; information and communications technologies; the services sector; education; industry, especially textiles and solid minerals among others,” President Buhari said.
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