My newest opinion piece for The Guardian on the scuffles between Nigeria’s President, his citizens and world oil prices👇
*A Double face-off: Buhari vs. oil prices and Nigerians vs. Buhari
Oil prices seem not to have been nice to Nigeria’s president (both during his military stint & in recent times) but most of his citizens feel that the president is not being nice to them. Their grievances are rooted (and being justified) in the fact that, under his watch, they have seen & experienced — contrasting previous governments—devastating economic outcomes: rising inflation, soaring joblessness, seemingly uncontainable level of insecurity and in consequence, declining welfare levels.
Mr Buhari is shifting the blame of the economic woes on crashing oil prices but Nigerians are hurling back the culpability at their President. But who really deserves the blame? Oil prices, Buhari or both? And what can we do about the situation?
Now, oil prices are hurtling back to pre-pandemic levels, and in the 18 months left of his presidency, Mr Buhari could scoop, based on estimates, at least $100 billion in revenue from the oil market. As the Chief Steward of his country’s Commonwealth, what will he do with it? He’s got a couple of options.
My thoughts on these and more here:
The continuation: part 2👇
President Buhari still battles two forces: the economic consequences of oil price collapse and the gripes of disgruntled Nigerians.