“Any (foreign) investor who is interested in investing in Nigeria will seem to know more about the economy more than ourselves.
“So when I come and tell the truth about the position of the economy of the country, I am going out looking for investors.”
These were the words of President Muhammadu Buhari when he received the list of the confirmed ministers from the Senate President, Dr. Bukola Saraki today at the Presidential Villa, Abuja.
He went on: “But I am confirming to them that we are truthful, that we need them to come and help us, help ourselves by getting in industries, manufacturing and services. They know our needs.
“The economy of human resources, I believe, will make them eventually come and help us.”
President Buhari, who was apparently reacting to those who criticised him of opening up in India last week that Nigeria is broke, said: “I think that the economy as I have seen it now since my sitting here for the last four months, that we are so much battered.
He said that it was misplaced for some people to say that he was giving bad publicity and scaring away investors.
President Buhari stressed that even because of the economic imperative, to have a lot substantive ministers would not be possible.
The President made it clear that the country’s economy is not strong enough to withstand the pressure of having 36 full ministers.
“I thank you the President of the Senate for the work of the Senate leadership in our strive to follow the constitutional provision that states that the President should submit the names of those he want to form the cabinet.
“If I can remember, there must be a member from each of the 36 states. That was why I limited the number of my nominees to that number: 36.
“The Senate worked extremely hard and they have passed all the nominees.
“I think there is some enthusiasm in some parts of the Presidency today that portfolios are to be given to the 36.
“The constitution certainly said there must be one member of the cabinet from all the states, but the constitution did not say I must have 36 ministries.”
President Buhari gave assurance that he would follow the constitution and all the 36 will be sitting in the cabinet as the constitution stipulates.
Earlier, Senator Saraki gave credit to the nominees that were submitted and credit to the Senate for the speed with which the nominees were screened. [myad]