As we approach the 2023 presidential elections, as it has become the norm in the Nigerian political scene, issues of ethnicity, religion, and region of the presidential candidates continue to dominate the headlines and criteria for support while the issue of which candidate is best equipped to fix the economy and make life better for […]
As we approach the 2023 presidential elections, as it has become the norm in the Nigerian political scene, issues of ethnicity, religion, and region of the presidential candidates continue to dominate the headlines and criteria for support while the issue of which candidate is best equipped to fix the economy and make life better for…
The more pertinent issue is that the economy is now at it’s lowest ebb given the fact that all the economic gains achieved since the return to democracy in 1999 have been reversed in the last seven years by the current administration that appears clueless as far as managing the economy of the country is concerned.
As is the current situation today, at the return to democracy in 1999, the Nigerian economy was at its lowest ebb with the GDP growth rate having stagnated at 0.58%, huge external debt of $35 billion, and debt service obligations in excess of $3 billion per annum, foreign reserves at less than $3 billion, GDP per capita of less than $500 and oil prices at less than $17 per barrel.
That asides they initiated several economic policies which helped to accelerate the growth of the country’s economy and create jobs such as the bank consolidation program which grew our banking industry by over 300% in just two years, the pension reforms which has now grown our pension funds to be in excess of 14 trillion Naira and remains the largest single pool of funds in the Nigerian financial services industry till date, the Local content policy in the oil industry which retains on average...
Growing the economy didn’t happen by chance, it took a lot of hard work, strategic planning, commitment, and tenacity which the Atiku-led economic team of the Obasanjo administration exhibited to make Nigeria become the
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