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Nigeria’s Economy Under Buhari Will Lose Gains Made In Last 10 Years —World Bank |The Republican News

President Muhammadu Buhari

The World Bank’s projection comes as Nigeria strives to recover from the multiple recession that hit the country in 2016 and 2020.

By CHUKWUEMEKA AYOMIDE

President Muhammadu Buhari
President Muhammadu Buhari
Anew World Bank report says that Nigeria under President Muhammadu Buhari will lose the economic gains it made in the last decade at the end of 2021.

“By the end of 2021, Nigeria’s GDP is likely to approach its 2010 level, thus reversing a full decade of economic growth,” the bank in its new report said.

The World Bank’s projection comes as Nigeria strives to recover from the multiple recession that hit the country in 2016 and 2020.

The bank in the report said that there will be a constant decline in the country’s GDP per capita despite recovery from recession, projecting the country’s population to grow faster than its economy.

The bank further forecasted that despite the country’s gradual recovery from the 2020 recession, Nigerians masses will continue to suffer the adverse effect of the economic downturn.

Applauding Mr Buhari for taking bold steps to reform the country’s deteriorating economic condition, the bank advised the government  to deepen its recent reforms that allows private sector investment for speedy economic recovery.

Nigeria in 2020 experienced its deepest recession in four decades.

The recession was believed to have been triggered by the economic shutdown occasioned by the outbreak of COVID-19 that same year.

Controversial fiscal and monetary policies of the Buhari administration and the Central Bank were also largely blamed for the recession.

Similarly in 2016, the country under the Mr Buhari regime plunged into recession, the first time since 1987.

However, the country’s economic growth resumed in the fourth quarter as pandemic restrictions were eased; oil prices rebounded, and the authorities implemented policies to counter the economic shock.

The World Bank reports implies that President Buhari since assuming office in 2015, has failed to positively impact the country’s economy which had suffered two record breaking recessions under his watch. (Peoples Gazette)

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World Bank Refutes Buhari’s Claim Of Lifting 10m Nigerians Out Of Poverty, Says Millions Became Poor |The Republican News

Buhari’s claims that his regime has lifted over 10 million Nigerians out of poverty in the last two years has been countered by World Bank (WB) as they said that millions of Nigerians became poor in 2020.

In his democracy day speech, the president said, “in the last two years, 10.5 million people in Nigeria have been lifted out of poverty — farmers, small-scale traders, market women, artisans and many more”.

However, World Bank countered this statement made by the president on it’s website.

They said, “The inflation rate in Nigeria became very high as of April 2021 and this is the highest in four years. Food prices has recorded a percentage of over 60 of the total increase in inflation.

“The Nigerian economy experienced a very shallow contraction of -1.8% than had been projected at the start of the pandemic, in 2020.

“Despite the economy starting to grow again, prices are increasing rapidly and this has been severely impacting various Nigerian households”

According to World Bank Nigeria Development Update, 7 million Nigerians have fallen below poverty line in 2020. (People’s Gazette)

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Buhari’s Democracy Day Speech Was A Study In Dishonesty, Riddled With Lies —Reno Omokri |The Republican News

Major.Gen. Muhammadu Buhari

The former aide to Goodluck Jonathan, Reno Omokri has described Buhari’s democracy day speech as a study in dishonesty. He exposes all the lies enmeshed in Muhammadu Buhari’s democracy day speech with facts.

Below is what Omokri had to say.

General Buhari’s Democracy Day speech was a study in dishonesty. Buhari claimed success in pulling 100 million Nigerians out of poverty. A wicked lie from a man who made Nigeria the world headquarters for EXTREME poverty.

Buhari said his regime does “sensible and transparent borrowing”. A hideous lie. Nigeria’s debt to revenue ratio is 90%. We owed ₦12 trillion in 2015. We owe ₦36 trillion today. Buhari has reduced us to a beggar nation.

General Buhari boasted of building infrastructure “wholly focused on Nigeria”. What an unnecessary lie from a government that awarded a $1.9 billion contract in Niger because “I have first cousins in Niger”.

Buhari boasted of the Second Niger Bridge. He failed to tell you the contract was awarded to Julius Berger in 2014 as a PERSONAL INITIATIVE of @GEJonathan, who paid ₦21.2 billion BEFORE leaving office.

Buhari lied that “we lifted 10.5 million people out of poverty”. Under Buhari, extreme poverty almost doubled in Nigeria. We have 90 million extremely poor people. Before Buhari we had less than 55 million. Buhari lied!

Buhari described his regime’s #COVID19 plan as “successful”. An evil lie. Buhari refused to shut our airspace early in 2020, despite warnings, because his daughter and chief of staff were abroad. He endangered us.

Still on his woeful #COVID19 response, which he called “successful”, his administration never gave Nigerians palliatives. They were given to APC stalwarts. Ghana paid water and electric bills for its citizens.

Buhari says he’s in “pursuit of a fair society”. How can our society be fair when the heads of the Three Arms of Government are Northern Muslim Males? It has NEVER happened in our history until nepotistic Buhari!

General Buhari claims he has “acknowledged notions of marginalisation”. He just insulted Igbos as “a dot in a circle”. He forgets that Israel is also a dot in a circle of hostile nations and defeated them all!

Buhari said “the primary responsibility for constitutional amendments lies with the National Assembly”. He is fooling you. He has put his lackeys as Senate President and Speaker to ensure restructuring fails!

Buhari said “I remain ever committed to defending Nigeria’s Corporate existence.” Then why is he spending tax payer funds to rehabilitate Boko Haram, to romance killer herdsmen, and only really fights the South East?

Buhari boasted that “the Security of the people remain the primary purpose of government”, yet, according to the Global Terror Index, Nigeria is more insecure today than in 2015. Syria and Yemen are more secure.

Buhari said “I have provided the security agencies with all they require.” A lie. While our soldiers needed weapons and welfare, Buhari budgeted $500 million to digitalise NTA and ₦37 billion to renovate NASS.

Buhari claims to have a “strong belief in the Nigerian spirit”. But that belief disappears when he needs healthcare. At such times, he develops a ‘strong belief in the London doctor spirit’. Lori iro. Isokuso!

In conclusion, Buhari’s Democracy Day speech exposed him, yet again, as a lying nepotistic tribalist. He does not even have the skills to lie convincingly. This is a man who should not even be running a KFC!

BuharisDemocracyDayLies #KeepitOn #TableShaker #BuhariTormentor #June12thProtest

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Again, Buhari Takes No Responsibility For Economic Woes, Failures Under His Administration |The Republican News

•Buhari wondered why Nigerians are not questioning the past administrations and demanding for accountability, despite the fact that his government had spent six years in the saddle.

President Muhammadu Buhari again on Tuesday blamed the past administrations for the country’s economic woes, stating that they had huge revenue from oil between 1999 and 2014, but failed to put infrastructure in place.

Buhari wondered why Nigerians are not questioning the past administrations and demanding for accountability, despite the fact that his government had spent six years in the saddle.

IPOB Is Like A Dot, If They Exit They’ve No Access To Anywhere, I’m Impressed With S’South Leaders, Youths -Buhari |RN

President Muhammadu Buhari
He stated this on Thursday in an interview on Arise News Television in Abuja, adding that “there has been no infrastructure despite the high numbers of earnings.”


Buhari added that Nigerians should be concerned about the waste and lack of accountability under the past administrations. (Sahara Reporters)

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