Nigerians Became Poorer During Buhari’s First Term – The Economist

International magazine The Economist says the Nigerian economy performed poorly during President Muhammadu Buhari‘s first term in office.

The London-based news outfit made this known in its recent review of the first term of President Buhari.

According to The Economist, Nigerians became poorer in the last four years.

In the publication, which it posted on its website on Thursday, the magazine said while the Nigerian economy was “stuck like a stranded truck,” average incomes fell during the four-year period covering 2015 to 2019.

It said based on the thinking of the International Monetary Fund (IMF), the average income of Nigerians “will not rise for at least another six (years).”

The report partly read, “The Nigerian economy is stuck like a stranded truck. Average incomes have been falling for four years; the IMF thinks they will not rise for at least another six (years).

“The latest figures put unemployment at 23 per cent, after growing for 15 consecutive quarters.

“Some 94 million people live on less than $1.90 a day, more than in any other country, and the number is swelling.

“By 2030, a quarter of very poor people will be Nigerians, predicts the World Data Lab, which counts such things.”