Nigeria: after a year of Buhari-nomics and crashing oil prices, what next?
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 (APC), which won power at the national level – both in the executive and the legislature – and pushed the Peoples Democratic Party (PDP) from power for the first time since the return to civilian 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 behind that 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 NNPC 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 its fight against Boko Haram. There is, however, far less support for his economic policies which have come under fire from multi-national companies, local business and trades unions.
This Breakfast Briefing will analyse:
- 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 NNPC and Nigeria LNG and national energy policy
- The new political landscape: in Abuja and in the 36 states
- What the new security strategy and the reorganisation of the armed forces will mean
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.
Monday 25 April 2016
8am – 10am
Herbert Smith Freehills
London EC2A 2EG