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Business & Finance

Diversify Your Economy From Oil, PMB Urges South Sudan

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President Muhammadu Buhari on Monday urged the South Sudanese government to invest more in agriculture and not to be solely dependent on oil revenues to grow the nation’s economy.

Receiving the outgoing South Sudanese Ambassador to Nigeria, Ambassador Makuet Riak, at the State House in Abuja, President Buhari in a statement by his special adviser, Media, Femi Adesina said South Sudan can avoid the mistake made by Nigeria in her over-reliance on oil revenue.

The President told the outgoing envoy that Nigeria’s economy, which has been heavily dependent on oil over the years, has been adversely affected by the drop in global oil prices.

“Investing in sustainable agriculture is one of the best ways to provide jobs for the people and keep the nation productive.

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“Food security is important to any country and that is what we are trying to achieve here, years after we `threw away’ agriculture for oil,’’ the President said.

President Buhari also praised the excellent relations between Nigeria and South Sudan and reaffirmed his commitment to strengthening existing bilateral ties.

In his remarks, Ambassador Riak described his four-year duty tour as his country’s first ambassador to Nigeria as very fruitful.

He said South Sudan was blessed with fertile land and would welcome more investments from Nigerian companies.

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