President Muhammadu Buhari says he is not satisfied with the performance of Nigeria’s economy.
Buhari, who spoke during an interview with Nigerian Television Authority, added that his administration is working to increase foreign direct investments in Nigeria.
“I am not satisfied (with the economy). That’s why I’m trying to make sure we persuade foreign countries to allow their multinationals to develop more confidence in Nigeria and come and invest,” he said, adding that such “will give us employment, and give us goods and services.”
Nigeria had exited its worst recession in 33 years after the economy grew by 0.11 percent in the fourth quarter of 2020.
But the economy has remained unstable, due in part to the effects of the coronavirus pandemic.
The country recorded its highest unemployment rate ever as of the end of 2020 while about 40 percent of the citizens are living in extreme poverty.
Buhari said Nigerian elites should understand that he needs more time to secure the country, build the economy and fight corruption.
He also said the #EndSARS protests in October last year hurt the economy.