Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,889,328 members, 6,947,233 topics. Date: Monday, 04 July 2022 at 10:07 PM

Assessing Buhari's First Year In Office - Nairaland / General - Nairaland

Nairaland Forum / Nairaland / General / Assessing Buhari's First Year In Office (1000 Views)

First Rain Of The Year In Kogi State / UBA Bank Operations Manager Slumpes And Dies In Office / Nine Key Milestones In President Buhari's First Year By Garba Shehu. (2) (3) (4)

(1) (Reply)

Assessing Buhari's First Year In Office by Chxta(m): 6:53pm On May 27, 2016
“Tough times will soon be over,” President Buhari declared during his 2016 Workers Day address to Nigerians. These are tough times indeed for Africa’s largest economy. A quick scan through key economic indicators as highlighted in the table below show steep declines in GDP growth, oil production and revenues over the past 12 months, whereas inflation rates have risen by a whopping 4.5% in the same time period.

May 2016 May 2015 Variance
Inflation 13.70% 9.20% 4.50%
GDP Growth Rate -0.36% 3.96% 3.59%
NGN/USD Exchange Rate (Official) 197.00 197.00 –
NGN/USD Exchange Rate (Parallel) 350.00 220.50 129.50
Foreign Reserves ($bn) 27.1 29.6 (2.5)
Oil Production (Mb/day) 1.4 1.65 (0.25)
FAAC (Nbn) 409.3 281.5 127.80

The country’s over-dependence on oil has been chastised for decades and now with oil prices declining the nation cannot generate enough income to invest in new oil fields and other critical areas of the economy.

Unfortunately, the bad news does not end with the state of the economy. Nigeria is currently suffering serious socio-political challenges with the government constantly firefighting crisis situations in various corners of the country’s map.

Whilst President Buhari has been quick to engage key issues like corruption and the Boko Haram insurgency, other areas have been left to spiral out of control – from farmer-herdsmen clashes in the Middle-belt states, and Niger Delta militants attacks in the oil producing states and tomato crops annihilation by disease in the core Northern states.

Clearly, Nigeria cannot afford the same dismal performance in the next 12 months.

Download complete report (51 pages)
SBM Intel believes this the points raised in this report can serve as a useful feedback to the government and can inspire policy makers to make relevant adjustment and allocate necessary resources towards tackling areas of serious concern.

If the government is content for Nigeria to continuously be mentioned in the same breath as Cristina Kirchner’s Argentina and Venezuela then they may not like the feedback that will be given by Nigerians at the polls in May 2019.
Re: Assessing Buhari's First Year In Office by remsonik(f): 6:57pm On May 27, 2016
Economy went out of control,exchange rate went out of control, cost of living rose higher standard of living went lower. Its a been a big mess for the President. He needs to get to work on the core areas.
Provide employment
Re: Assessing Buhari's First Year In Office by Khd95(m): 7:22pm On May 27, 2016
Another avenue for wailers to wail mercilesslycry

(1) (Reply)

Just Killed A Snake In My Grandmas Kitchen. / Guys, 10 Things You Should Never Do To Please Your Woman. / HELP: In Need Of A Part-time Job.

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 40
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.