“When economic inequality rises, insecurity rises.”
took oath of office for a second term on May 29, 2019, at a low-key ceremony held in the Federal Capital Territory, Abuja.
At the time, his promises were believed to have been informed by a consciousness of subsisting aspects of some of the promises he made during his first swearing-in address in 2015 but which were yet to be actualized. Without doubt, one major carryover of challenges from his first tenure, which he needed to redouble efforts at addressing was insecurity, which still found expression in Boko Haram insurgency in the Northeast, kidnapping, armed banditry, and farmer/herder crisis.
On the economic front, the issue of fuel subsidy remained contentious, even as the International Monetary Fund advised against subsidizing fuel for domestic consumption, saying subsidy removal would help boost revenue and improve on local infrastructure development. With Buhari holding forte as Minister of Petroleum Resources, the onus was on him to come up with a policy on oil subsidy regime, which reportedly gulps over N1trillion annually.
One year into President Buhari’s second term in office, the scorecard could not be said to be all gloomy as there have been remarkable strides in some aspects of national life, especially infrastructure development, which would be a key boost to the economy.
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