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President of Nigeria Muhammadu Buhari

Nigeria’s cautious leader faces hard choices

  • Nigeria’s economic potential remains hostage to structural problems and growth-constraining policies
  • President Buhari’s statist inclinations have manifested themselves in also in hostility to investors
  • His reelection in February 2019 is not expected to mark the beginning of a new era in Nigeria

In February 2019, Muhammadu Buhari was reelected President of Nigeria, Africa’s most populous country, rich in natural resources but socially challenged and underperforming economically. While the balance of his first term in office is far from great, the 76-year-old Mr. Buhari managed to deliver some results on the two issues that were the cornerstones of his 2015 campaign: corruption and security.

Mr. Buhari’s record on the economic front is also mixed. Extremely adverse conditions marked the beginning of his first term. In 2016, for the first time in 25 years, the country’s economy contracted by 1.5 percent – the combined effect of a severe currency shortage, the collapse in oil prices, the declining capacity utilization of Nigeria’s refineries and rising insecurity in the oil-producing Niger Delta. The president’s tack in this hard situation was a strange combination of inertia and statist measures.

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 Teresa Nogueira Pinto
According to the World Poverty Clock, Nigeria has overtaken India as the world leader in extreme poverty
read more about it in the report
What's inside
  • Nigeria’s economic potential remains hostage to structural problems and growth-constraining policies
  • President Buhari’s statist inclinations have manifested themselves in also in hostility to investors
  • His reelection in February 2019 is not expected to mark the beginning of a new era in Nigeria
Who will benefit?
  • Report is targeted to the decision makers in cross country manufacturing – suppliers, manufacturers, logistics.
  • Also considered useful for the administrative university facilities, to better understand the possibe effects of current decisions.
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