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This Is How Nigerian Economy Got Messed Up By Incumbent Head Of State- Reno Omokri, Nigerians

 

“For one, President Muhammadu Buhari didn’t inherit a country in turmoils. Rather, on May 29th, 2015, the day he was sworn in, President Buhari inherited a nation that was the largest economy in Africa and the 24th largest economy in the world.

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By the declaration of CNNMoney, he acquired an economy that was the third quickest developing economy on the planet, with just China and Qatar becoming quicker. By the declaration of the British Government, he acquired the fourth quickest developing economy on the planet. Regardless of whether you take the declaration of CNNMoney or that of the U.K. government, the truth of the matter is that we were one of the world’s most dynamic economies.

“Likewise, on May 29, 2015, President Muhammadu Buhari acquired an economy that by the proof of the World Investment Report, arranged by the Geneva-construct United Nations Conference with respect to Trade and Development (Unctad), was the main goal for remote direct interest in Africa.

“And finally on this score, on May 29, 2015, President Muhammadu Buhari inherited an economy with a stable currency where the Naira exchanged for 199 Naira to $1 and in which Nigeria had a single digit inflation

“It is also a fact of history that within just six months of his swearing in as President, the Muhammadu Buhari administration negatively turned the table around in the most remarkable display of ineptitude ever seen in modern political history, to such an extent that from the third fastest growing economy, Nigeria entered into a recession!

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“Not just that, but from being the top destination for foreign investment, Nigeria experienced unprecedented capital flight because of the Buhari administration’s Stone Age voodoo economics, which, according to the Nigerian Bureau of Statistics, led to a job loss of 6 million jobs and the closure of thousands of manufacturing firms and other concerns in the real sector.

“And finally, on the note of the economy, it should be noted that from being one of the best performing currencies in the world under President Jonathan the Naira, by evidence of Bloomberg, was the world’s fourth worst performing currency I 2016 having lost more than 100% of its value under Jonathan.

“Again, Nigerians may wish to note that when former President Jonathan was tackling the Boko Haram insurgency, he did not blame or accuse Northern elders. He did what he was elected to do without abdicating his responsibility.

“Today, it is quite sad that President Muhammadu Buhari, who never offered to help during the Boko Haram crisis, now declares that he is ‘disappointed’ in the leaders of the Southeast for not reining in IPOB.

 

“Rather than inherit a country in tatters, it is precisely President Muhammadu Buhari who has bequeathed a country and an economy in tatters to future generations.

“My recommendation to President Muhammadu Buhari is this: Once you are chosen as a President, you should work to win the hearts of the individuals who rejected you amid the race as opposed to concocting plans to get your requital against them.

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Written by How Africa

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