Buhari may review economic policies before 2016 Budget

President Muhammadu Buhari on Monday declared that he will gladly reverse or abandon some inherited economic policies if it will lead to creation of more jobs for Nigerians.
He made the remark during a meeting with Executive Members of the Manufacturers Association of Nigeria (MAN) at the Presidential Villa, Abuja.
President Buhari also directed the Ministries of Industries, Trade and Investment, and Finance, and the Central Bank of Nigeria and other relevant government agencies to evolve new policies to boost domestic manufacturing before next year’s budget.
The President in a statement issued by his Special Adviser on Media and Publicity, Femi Adesina, said: “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. I campaigned on three major planks. To effectively secure our country, provide employment through revamping of the economy, and wage a relentless war against corruption. I intend to keep faith with these promises.”
He lamented that the textile industry that employed about 320,000 people in the past now only parades about 30,000.
“It shows the carelessness of past governments, if almost 300,000 people lose jobs in a single sector. We have a clear idea of how we can stimulate employment and we will work very hard to do so,” President Buhari told the MAN delegation.
The MAN President, Dr. Frank Udemba Jacobs, had appealed for a review of policies that stifle the manufacturing sector, noting that the importance of a robust manufacturing sector for the general well-being of the economy cannot be over-emphasized.