We made mistake by depending solely on oil – Buhari

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President Muhammadu Buhari has said that Nigeria made a pricey mistake by depending totally on oil as only supply of profits.
The President admitted that Nigeria become in for the worst instances for failing to keep or diversify its economic system, which he stated, had been significantly laid low with the crash of oil charges.

Buhari made this statement while bidding the outgoing Iranian Ambassador to Nigeria, Mr. Saeed Koozechi, farewell in Abuja.

In line with him, his administration became vigorously pursuing the diversification mission.

“We made a terrible mistake by turning into a mono-product financial system hinged on oil and we are now in a volatile situation, due to the crash in oil fees.

“we’ve visible the advantages of diversification which helped Iran to survive a few years of sanctions and still got here out strong”, he stated.

“we’re now absolutely devoted to economic diversification. Most of the matters on our import payments may be produced here. And we’re determined to obtain that self-dependency,” he stated.

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