The National Bureau of Statistics (NBS) has released eye-popping figures about the woes of the Nigerian economy. The body amidst pressures from the FG, stated that 20.9 million Nigerians have lost their jobs under the three and half years of President Buhari’s administration. This did not come as a surprise to the Nigerian public, as indicators in the economy have long shown an ailing economy.
It is noteworthy that Nigeria has over the last three years, become the headquarters of extreme poverty. This comes at a time when the inflation rate has risen from 8% in 2013/2014 to 15% in recent times. The affront on the Naira by the dollar in the past three years has led to 50% devaluation of the Naira, from 155 Naira in 2013/2014 to 365 Naira in 2018. This has led to prices of basic goods and services skyrocketing unimaginably.
All of these are definitely due to the anti-business stance of the Buhari-led administration, which has endangered the economic environment of the country, leading to the exit of the country by top foreign companies.
The APC-led FG has been unable to handle the Nigerian economy properly. This has led to the unprecedented rise in unemployment rate from 6.4% in 2014, to 23.1% in 2018, putting families in pains and out of the street. These figures are not getting any better, unlike what the Buhari administration wants Nigerians to believe.
The major opposition party candidate; Atiku Abubakar, has since made his campaign about jobs, jobs and jobs, brandishing plans to liberate the market and fund SMEs, so the private sector can drive the economy. This is highly likely, since the Presidential candidate; Atiku Abubakar and the VP; Peter Obi are proven employers of labor to the tune of over 50,000 employees between them.
Hence, the ball is on the court of Nigerians as they head to the Poll on February 2019, in a bid to validate or invalidate the various economic policies of the APC-led FG.
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