In a rare moment of sober self-appraisal, President Muhammadu Buhari recently declared that he has done his best in fixing Nigeria, although his best might have not met the expectations and yearnings of many Nigerians. A few months earlier, wife of the President, Mrs. Aisha Buhari, had also asked Nigerians to forgive her husband for […]
In a rare moment of sober self-appraisal, President Muhammadu Buhari recently declared that he has done his best in fixing Nigeria, although his best might have not met the expectations and yearnings of many Nigerians. A few months earlier, wife of the President, Mrs.
Two pertinent questions stare us in the face. One, where did we start falling before we arrived at where we are today? Two, what do we need to do to stop the free fall and move our country in a post-Buhari path of revamping citizens’ enthusiasm and love for country while guaranteeing happiness for the greater majority?
The economy still largely depends on oil and is vulnerable to fluctuations in domestic production and global prices. It is also heavily dependent on state handouts. According to data from Nairalytics, Nigeria, in 2022, spent 96 per cent of her revenue on debt servicing, with the attendant untold effect on fiscal balance. A pressing matter will be to address the growing debt issue and find a way to secure the confidence of creditors in granting Nigeria a listening hear in the arduous task of debt restructuring.
Maintaining the APC-Buhari path of economic management can only bring bigger disaster. Nigeria may not survive such calamity. This is because he presents an economic agenda based on three principles: private sector participation; the end of the public monopolies over infrastructures and a market-oriented approach to solving economic challenges.
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