President Muhammadu Buhari on Tuesday said although Nigeria recognised her problems early enough, the country wasted so many opportunities.
This, he said, made the nation not to achieve much results.
A statement by his Special Adviser on Media and Publicity, Mr. Femi Adesina, quoted the President as speaking while receiving Executive Members of Association of Africa Automotive Manufacturers led by the chairman, Mr. Jeff Nemeth, at the Presidential Villa, Abuja.
Buhari said in order to reverse the trend, the Federal Government must avoid the mistakes of the past.
“We must avoid the mistakes made in the past by both government and manufacturers, and we are ready to get investment from all quarters, so that we can improve the lives of our people,” he said.
The President lamented that Nigeria failed to develop on automobile initiatives started in Bauchi, Kaduna and Ibadan, and depended too much on oil as mainstay of her economy.
“We are making efforts to start our steel industry all over again. I see vast opportunities for both the country and those who invest here,” the President said.
Nemeth said the association comprised potential investors who were ready to unlock investment potential on the African continent.
“We are ready to offer strategic partnership with Nigeria. We want to promote investor-friendly regulatory frameworks and sustainable manufacturing.
“We will equally promote infrastructure development, job creation, and skills transfer,” he said.
The AAAM chairman sought the support of the Presidency in the realisation of the vision and mission of the association.