With the rising food prices and Nigerian inflation accelerating to 17.71%; while naira currency collapsing at 444 naira to dollar in official rate and above 600 naira to a dollar in the black market. Nigerian presidency still believes that the administration will “leave Nigeria in a far better place than we found it.”
On Buhari’s question and answer exercise with Bloomberg, he was questioned about his campaign promises to fight corruption and secure the economy. The answer he gave did not reflect the reality on ground.
Bloomberg asked, “You campaigned for office with a pledge to fight corruption, secure the country and fix the economy. How would you rate your performance in fulfilling those pledges during your eight years in office? Why has insecurity been so hard to tackle? Are you making headway?”
And he replied, “We leave Nigeria in a far better place than we found it. Corruption is less hidden for Nigerians feel empowered to report it without fear, while money is returned; terrorists no longer hold any territory in Nigeria, and their leaders are deceased; and vast infrastructure development sets the country on course for sustainable and equitable growth.”
Buhari continued, “How prescient our policies for boosting domestic production have become!”
But the economic metrics and indices coming from World Bank and country’s statistical data base diametrically opposite to his assumption which is devoid of statistical reality.
Nigeria made the list of one of the most corrupt countries in Africa. And World Bank reported that, “Inflation in Nigeria, already one of the highest in the world before the war in Ukraine, is likely to increase further as a result of the rise in global fuel and food prices caused by the war. And that, the World Bank estimates, is likely to push an additional one million Nigerians into poverty by the end of 2022, on top of the 6 million Nigerians that were already predicted to fall into poverty this year because of the rise in prices, particularly food prices.”
The prices of food stuff in Nigeria is out of reach of average Nigerian and three square meal is becoming a thing of history among the poor and working class that made up the largest segment of the population. Now talk of high price of petrol which is selling between N180 and N200 per litre, while diesel at N820 per litre.
In addition to the economic problem, the rising insecurity in the country is the most worrisome. Random kidnappings and killings have littered everywhere in the country. Poverty has become the order of the day as Nigeria occupies the global center of poverty and hopelessness.