Breakfast Briefing – Nigeria: after a year of Buhari-nomics and crashing oil prices, what next?


These slides formed the basis of an hour-long briefing by our consultant Patrick Smith on 25 April 2016. 

Preview of the video-slideshow:


In particular the presentation addressed:

  • Successes and failures in the fight against corruption
  • The government’s new macro-economic economic strategy and the team that is to implement it
  • The exchange rate debate and trade reform: the policy options under discussion
  • The imperatives for reform of the Nigerian National Petroleum Corporation and Nigerian Liquefied Natural Gas and national energy policy
  • The new political landscape: in Abuja and in the 36 states
  • What the new security strategy and reorganisation of the armed forces will mean
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The following text sets the context in which the briefing was given. 

In a groundbreaking election in March 2015, Muhammadu Buhari led an opposition coalition to become president, defeating incumbent Goodluck Jonathan. It was a personal victory for Buhari but also for his All Progressives’ Congress, which had won power at the national level – both the executive and the legislature – and pushed the People’s Democratic Party from power for the first time since the return to civil rule in 1999.

On his inauguration on 31 May President, Buhari set out his agenda: item number one was the war against corruption across the government and private sector.

Closely that behind was national security, the fight against the Boko Haram Islamist insurgency, and securing oil and gas production in the Niger Delta, which has been hit by sabotage, oil theft, and piracy.

Third, Buhari sketched out ambitious plans for the radical reform of the state oil company and rapid diversification of the economy to boost agriculture and revive agro-processing and industry across the country.

So far the results sheet has been mixed. Buhari is seen as one of the country’s most credible corruption-fighters and the restructured military has stepped up the fight against Boko Haram but there is far less support for his economic policies which have come under fire multi-national companies, local business and trades unions.

Patrick Smith, Editor of Africa Confidential and Menas Associates Nigeria Focus, lives in Paris and spends about half the year reporting from Africa. He was based in West Africa as a correspondent for Associated Press and the BBC for a decade.


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