It is an indisputable fact that the Nigerian economy is presently witnessing a serious "turmoil".

First, the current economic debacle that has bedeviled Nigeria can be attributed to the dwindling price of oil in the international oil market. This is as result of the fact that Nigerian economy is solely dependent on oil (mono-economy) for her foreign earnings and this problem has been compounded by failure of successive governments to diversify the economy.

Secondly, since his assumption of office on the 29th day of May, 2015, President Muhammadu Buhari has kept Nigerian's especially industry players in the dark due to lack of policy direction by his administration.

Thirdly, the recent implementation of Treasury Single Account (TSA) by this administration, though a welcome development, has caused a liquidity squeeze in the banking industry, making it difficult for banks to give loans to investors to boost the real sector of the economy, which is an engine for a country's economic growth and development.

Fourthly, Non-composition of his cabinet has also brought the economy of Nigeria to a stand still due to the fact that most projects which could have been initiated and executed by the honourable ministers are non-existent. Remember, nature abhors vacuum and you must pay the price for any vacuum created either in the long-run or in the short-run.

However, the above listed problems have worsened the unemployment problem in the country. Virtually, no government Ministry, agency, parastatal etc has conducted any official recruitment since Buhari's assumption of office, despite the fact that more graduates are joining the labour market on average daily basis. This has widened the gap between the job seekers and the number of available jobs in the country. So for those who say we should give him time, consider this please.

Infact, we are currently witnessing the worst form of unemployment known to mankind (staflation). This is a level of unemployment that is accompanied by rising inflation rate. Economically, any factor which increases the level of unemployment would reduce the rate of inflation in the economy viz-a-viz (macroeconomic tradeoff), but our experience right now shows that Nigerian economy has defiled this theory. See the Philips curve for better understanding.

I am therefore of the opinion that Mr. president should as a matter of urgency pursue a balanced economic growth model, which will help to diversify the economy. Our total dependent on oil as a source of revenue will spell further doom on the economy in the long-run due to shale oil development in the US coupled with oil spare production capacity in Saudi Arabia and other OPEC giants.

-Mr. president should in the short run pursue expansionary policies in order to boost the real sector of the economy. This can be achieved by increasing government expenditure and reducing taxes. Read the importance of Velocity of Circulation for better understanding.

-Mr. President's "war against corruption" should be shifted to the State Governors,who have capitalized on the dwindling revenue to milk their respective States dry without even paying salaries to workers. It seems even the masses have turned deaf ears on the State Governors without knowing that they are the highest "Robbers" of the economy.

-Finally, Mr. president should not channel all his energy towards fighting corruption alone or persecuting his political opponents. This will make mess of his administration. Of all the accused persons, how many have been convicted so far? How much has been recovered so far? If much has been recovered, why are we still shouting "there is no money"?

This is a democracy, where bureaucracy is the order of the day and the rule of law must be adhered to. At the end of the day, channeling all his energy towards anti-corruption without achieving any meaningful development in Nigeria will work against him. Those sycophants around him will desert him. He should learn from history.

Thank you.

Long live the Federal Republic of Nigeria
Long live President Muhammadu Buhari.

Long live the Hero of our democracy Dr. Goodluck Jonathan