President Muhammadu Buhari has been frequently criticized over his economic policies and failure to appoint an economic team. Acco...
President Muhammadu Buhari has been frequently criticized over his economic policies and failure to appoint an economic team.
According to international publication, The Economist, President Buhari seems to currently be making the same mistakes in handling Nigeria’s economy that he made as a military ruler.
Also, both Archbishop Anthony Okogie and the Chairman of the Progressive Peoples Party (PPP), Damian Ogbonnahave accused the president of running his administration like a “one-man show”.
This sentiment has been mirrored by economist and research analyst, Chuba Ezekwesili who believes that the president is running Nigeria’s economy as if he is a one-man economic team.
“Buhari is running on a one-man crew. We have the Ministry of Finance, the Ministry of Trade and Investment, and we have fairly competent individuals that are heading these, but when you don’t have that synchronization between the ministries and the president, there’s an issue,” Ezekwesili said while appearing on Pulse TV’s Frankly Speaking With Jola Sotubo.
“Second of all, you notice in a lot of his [Buhari’s] statements, he has this stance… he’s a pro-people person, but the problem with that is, you can’t focus on idealism. Idealism is not how an economy is run. He should instead focus on structured and set principles of economics on how to work things right.
“He needs to understand how market forces take place and I think he needs to be more supportive of the private sector. The private sector is a bit alienated and that’s an issue because you need the private sector now more than ever since the government does not have money,” Ezekwesili added.
Buhari has also been criticized for refusing to devalue the naira despite the economic challenges being faced in Nigeria.
