President Muhammadu Buhari says the realities on ground are indications that Nigeria is not a rich country.
Speaking in Abuja on Monday when he recieved Donald Kaberuka, outgoing president of the African Development Bank (AfDB), Buhari said privileged and influential Nigerians have to do more in assisting the country deal successfully with its economic and security problems.
“With the shock of falling oil prices, lack of revenues, and insecurity, the Nigerian elites must now wake up and provide the right guidance in their communities, and also lead the economy on the right path more than they used to do,’’ Femi Adesina, Buhari’s spokesman, quoted him as saying.
“An impression has been erroneously created that we are a rich country but looking at the economic profile of the country today, you will see that that is not necessarily the case.
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“Our social services have to be seriously rehabilitated. We need urgent attention on areas like education and health services, not only in the north eastern part of the country, but all round the country.
“We will fall back on institutions like the AfDB for support in generating employment. We have vast potentials in the agricultural sector that can be explored to create more jobs.
“We also have small businesses that need funds for expansion.”
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Responding, Kaberuka told Buhari that development institutions like the World Bank, German Development Bank and the European Development Bank had already indicated their readiness to provide long term loan facilities to small businesses in Nigeria.
He assured the president that the AfDB will always support economic projects in Nigeria.
The AfDB currently has a strong capital base of 4.8 billion U S dollars.
Akinwunmi Adesina, the immediate past minister of Agriculture, would succeed Kaberuka.
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