#Nextlevel: What Buhari has to do about Nigeria’s economy
One of the main reasons newly-elected Nigerian president Muhammadu Buhari had been widely expected to lose his bid for a second term was the poor state of the country’s economy. Under his presidency, Nigeria’s unemployment rate more than doubled, from 10.4 per cent in January 2016 to 23.1 per cent in July 2018. President Mohammadu Buhari GCFR In his first four years, Buhari also failed to address poverty. Under his watch, Nigeria overtook India as the country with the largest number of people living in extreme poverty. About 87 million Nigerians, or half the population, live on less than US$1.90 per day. And economic growth has been lacklustre since his election in 2015. The country went into recession in 2016, with a negative 1.6% growth rate. There was a rebound in economic growth of about two per cent in 2018. Nevertheless, the IMF forecasts that growth will remain anaemic at an annual average of about 1.9 per cent from 2019 – 2023. By reelecting Buhari despite his unimp...