Undertake Background Checks On Foreign Partners – Buhari Cautions
BEVERLY HILLS, April 06, (THEWILL) – President Muhammadu Buhari has urged state governments and the private sector against engaging foreign partners without conducting proper background checks.
This was contained in his speech, on Wednesday, at the opening of the maiden Kaduna Economic and Investment Summit, organised by the Kaduna State Government, in Kaduna.
The speech, which was delivered by Gov. Nasiru El-Rufa'I on behalf of the President, applauded the various state governments who have been making efforts to improve their revenue in view of the current economic woes.
“State Governments and indeed the private sector should take care and make background checks before engaging with foreign partners,” he said.
“In the face of dwindling oil revenue, I am very pleased to note the efforts being made by State Governments to diversify their internally generated revenue sources by opening up their economy for investors and providing a conducive enabling environment.
“More recently, these efforts have been demonstrated not with mere rhetoric or political statements, but with practical policies and well thought out legislations.
“The Kaduna Investment and Economic Summit is a pointer to one of these efforts.”
Buhari added that the summit would be beneficial as governments seeks to “diversify our oil dependent economy to other viable sectors, where we have competitive advantage.”
“Private sector led investments remain the most sustainable way of creating much needed jobs and engendering purposeful growth.
“The effect on employment and social peace would soon be apparent,” he said, stressing the importance of the private sector in driving the economy for greater efficiency and growth.
He also urged all stakeholders to make concerted efforts “towards sustaining functioning industries, establishing new ones as well as revival of moribund industries.”
Story by David Oputah