Following the newly released estimates by the International Monetary Fund (IMF) on Monday showing that Nigeria's economy still remains the largest in Africa,
I observed with dismay the joy, celebration and praises showered on President Muhammadu Buhari who is said to have been the force responsible for keeping the economy in the right direction.
However, while those praises where making the rounds mainly within the APC family, I had to look critically at the state of the economy to find any justifiable reason to give credit to President Buhari for doing a good job in managing the nation’s economy.
But do I really need to stress myself to know whether Buhari deserves credit for the new ranking? Certainly not. The figures are all there to speak for itself.
In 2014 after rebasing the nation's economy by the then Jonathan administration, the Nigerian economy was worth N80.2 trillion, or $509.9 billion, rising from its original figure of N42.4 trillion, or $269.5 billion.
However at the end of 2015 under Buhari's administration, the GDP fell to $493.831billion from its previous $509.9 billion dollar in 2014.
And now in 2016, the recent information from the IMF showed that Nigeria’s Gross Domestic Product would hit $415.08billion at the end of this year, from $493.831billion, its value at the end of 2015.
From the information above, it is clear that since Buhari took over government, the economy has been falling rather than growing. Therefore, for which of this available information can Buhari be given credit for making the nation’s number one economy in Africa?
To put the record straight, Buhari never made Nigeria the number one economy in Africa.
Those praising and giving credits to the President are just looking for something positive to say about Buhari's government. The reality however, is that Buhari did nothing worth giving him the credit. Instead, Nigerians should thank former President Goodluck Jonathan who produced a robust economy strong enough to withstand all the harsh economic environment under President Buhari’s government and still remain the number one despite the current challenges.
The fact that our economy remains the number one despite the troubles currently facing the country, showed that Jonathan was indeed a great leader.
The fact that our economy remains the number one despite the troubles currently facing the country, showed that Jonathan was indeed a great leader.
