- The Financial Times of London has alleged that President Muhammadu Buhari failed to make any considerable effort to save Nigeria's dwindling economy
- The newspaper said there is lack of hope for Nigeria's economy
- FT described as a dead cat bounce if thrown from a 50-storey building
London's Financial Times has alleged that President Muhammadu Buhari failed to make any considerable effort to save Nigeria's dwindling economy.
The Newspaper in a piece written by David Pilling, its Africa editor, expressed lack of hope for Nigeria's economy.
Pilling said the growth of Nigeria's economy in 2017 can be described as a dead cat bounce if thrown from a 50-storey building.
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He said: "If you imagine a dead cat soaked in crude oil and dropped from a 50-storey building, you get a rough picture of how Nigeria’s economy is performing these days."
Emphasizing that Nigerian has been expected to grow its economy by 2.5% in 2017 after the 1.6% growth in the past year, the FT said with the prolfic growth of the country's population the economy is 'going nowhere.'
“The reasons for the “recovery” are twofold. First, last year’s performance was so dismal it would have been difficult for the economy to fall further," FT said.
He further added that the President Buhari-led administration did nothing since assuming office on May 29, 2015, to save the economy.
FT said: "Without doing anything at all — a reasonable description of policy under Muhammadu Buhari, the country’s ailing leader and frequent London resident — the baseline effect has worked its magic. Second, the oil that makes up so much of government revenues is flowing faster. In June, production was 1.7m barrels a day, 10 per cent higher than a year ago.”
Further analyzing the present health condition of the president, FT said, Buhari is suffering from a 'mystery' illness that has turned the Nigerian politics into a child's play.
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FT said Buhari, “has spent much of the past year convalescing from a mystery illness that has sapped his presidency of vigour and set off a merry-go-round of political jockeying to succeed him. There has been practically nothing in the way of coherent economic policy”.
The newspaper further addressed the Acting President Yemi Osinbajo as a more competent individual to run Nigeria.
NAIJ.com earlier reported that the FT had accused President Buhari of squandering jobs meant for Nigerians youths.
The FT in its article said the future of Nigerian entrepreneurs were being trapped by the President Buhari's administration.
You can watch this NAIJ.com video of Nigerians speaking on how tired they are of the President Buhari's administration:
