Buharinomics: 12 graphs to understand Buhari’s economic legacy

In depth
This article is part of the dossier: Buharinomics

By Temitayo Lawal
Posted on Monday, 18 July 2022 12:42, updated on Tuesday, 4 October 2022 17:47

Buhari won the Nigerian presidential election back in 2015 – following three failed attempts – on a promise that he would turn the ailing economy around, tapping into his background as a retired military general to end insecurity. In this first part of our series, we evaluate a variety of data spanning several years, to create a picture of Buhari’s economic success – and his failures.

This is part 1 of a 5-part series

His phrase “if we do not kill corruption, corruption will kill Nigeria” became the de facto slogan of his election campaign. It hinged on three major pillars: economy, security, and corruption. His promises won him another term in 2019.

Also in this in Depth:

Buharinomics: Buhari’s top five pro-business policies

Where Nigerians hoped that the Buhari administration would succeed – on boosting the economy and fighting corruption – is where the government may have failed the most.

Buharinomics: Rice, border closures, FX… Evaluating the impact of Buhari’s key policies

The government believes that its plan to be self-sufficient in rice production by closing the country’s land borders to enforce a ban and blocking dollar access for its import is yielding positive results.

Buharinomics: Impact of CBN’s unorthodox monetary policy on businesses

Just a month after President Buhari's election in 2015, the Central Bank of Nigeria barred importers of certain goods and services from accessing the foreign-exchange market. The affected items cut across several sectors of the economy, especially agriculture, aviation, pharmaceutical, manufacturing and construction.

Has Buharinomics delivered for northern Nigeria?

Muhammadu Buhari won the presidential election in 2015 due to unbridled support from his core political base in northern Nigeria. His transformative rhetoric promised good jobs, solid income, and a sense of pride for those based within his political stronghold. But did the populist president over-promise and underdeliver?