He said the country's youthful population is reliant on the notion that Nigeria is an oil-rich nation.
The president said this while speaking at the Commonwealth Business Forum in Westminster on Wednesday, April 18, 2018.
He said the country's youthful population is reliant on the notion that Nigeria is an oil-rich nation, which leads to the demand for free things.
The president also praised his administration's performance since he was elected into office in three years ago.
He said, "About the economy, we have a very young population, our population is estimated conservatively to be 180 million. This is a very conservative one.
"More than 60 percent of the population is below 30, a lot of them haven't been to school and they are claiming that Nigeria has been an oil producing country, therefore, they should sit and do nothing, and get housing, healthcare, education free."
"Recently, my minister for information was constrained to answer a question on people accusing this administration of doing nothing, he said, 'Let Nigerians be reminded what position we were before May 2015, what condition we are now, and what we have achieved between then and now' and I think people were impressed with the answer.
"For security, we have done quite well. Economy, we are doing very well, especially with agriculture; we are providing soft loans, and guarantee is that you have to belong to a certain locality and you have got land, you don’t have to go to the bank and bring physical collateral. I think a lot is being done."
The president is in the United Kingdom for 25th Commonwealth Heads of Government Meetings and recently met with British Prime Minister, Theresa May, at Downing Street, London on Monday, April 16, to discuss Nigeria-British relations ahead of the meetings.
While speaking to May during Monday's meeting, President Buhari focused on the three main agenda of his administration - security, economy and fight against corruption. He also urged British companies to invest more in Nigeria.
He said, "British companies like Unilever, Cadbury, and many others have stood with Nigeria through thick and thin. Even when we fought a Civil War, they never left.
"But like Oliver Twist, we ask for more investments. We are encouraging more British companies to come to Nigeria. We appreciate the support you have given in training and equipping our military, particularly in the war against insurgency, but we want to also continue to work with you on trade and investment.
"We campaigned on three major issues, to secure the country, revive the economy and fight corruption. We have elections next year, politicians are already preoccupied with the polls, but I'm bothered more about security and the economy."