President Muhammadu Buhari has asked the new board of the Nigeria Sovereign Investment Authority (NSIA) to make more investments that support economic diversification, as global oil prices are projected to drop to around $40 per barrel by 2030.
He gave the charge on Wednesday at the inauguration of the third NSIA board in Abuja, shortly before he chaired a virtual meeting of the Federal Executive Council (FEC). “The bar before you is very high and all of us are counting on you to deliver,” President Buhari was quoted as saying in a statement by his media adviser, Femi Adesina. “If you do, I assure you that the government and indeed all Nigerians will be unflinching in their support for you.”
The President reaffirmed his administration’s commitment to implementing long-term projects and programmes that create jobs for Nigerians. He noted that the full impact of most of the strategic projects started under his watch would only be felt long after he had left office.
President Buhari described the appointment of the nine-man board as a call to duty, action, and performance, stressing that they were eminently qualified for the job. “This government operates on the agenda for long-term change which we all agree is inevitable. Change happens whether you are ready for it or not. As representatives of the federation, you are required to continue to drive the performance of the authority to deliver benefits to all Nigerians.
“You must bear in mind that the National Economic Council, your Governing Council and Nigerians as a whole, will hold you accountable for this mandate,” he told the board.