Goodluck And Buhari Administration: Economic Performance Ratings

The current Nigeria President Muhammadu Buhari was sworn in on 29 May 2015 in a ceremony attended by more than 20 Heads of State and Government.

On 31 March, Goodluck Jonathan called Buhari to offer his concession and congratulations for his election as president.

So far President Muhammadu Buhari has spent five years in the Aso-Rock since he assumed the office presidency.

Goodluck vs. Buhari Administration Who is best for the economy?

The Buhari Administration has moved very slowly to fill all the promises he made before assuming office.

Recession

Muhammadu Buhari assumed office without a recession. But he won the election on the impression by voters that the economic growth should be better than that of Goodluck Jonathan. He promised to make Nigeria economy one of the fastest-growing emerging economies in the world with real GDP growth averaging 10% annually. (In another instance, the APC promised 10-12% annual GDP growth). Buhari becomes a bubble that creates a recession in the country in 2016.

Unemployment rate

Before Buhari assumed office he promises to create 720,000 jobs by the 36 states in the country per annum (20,000 per state) Three million Jobs per year, the country’s rate of unemployment reflected that while the unemployment rate stood at 7.8 per cent in 2014, the rate rose significantly to 23.1 per cent in 2018.

Poverty rate

Nigeria poverty rate which stood at 33.1 per cent in 2016 jumped to 40.1 per cent in 2019. All these show that average incomes for Nigerians have been falling over the past years.

Debt rating

Nigeria’s public debt stock had risen to $84.052bn (about N27.401tn) from the about $63.806bn or N12.11tn on June 30, 2015.

Read 5 Years Of Buhari Administration: Economic Performance Ratings Here