While President Muhammadu Buhari has been in London for over a week now, he wrote an article titled “The Three changes Nigeria needs” which was published on America Wall Street Journal, WSJ, on Tuesday June 14th. In the article, the President stated that Restoring hope, Rebalancing the economy and Regenerate growth are the three changes Nigeria needs. Read the full article below…
Nigeria is at a crossroads. Just over a year ago, people voted in a historic democratic election to end corruption and business as usual, opting instead to build an economy that delivers for all Nigerians. The old order was based on an unsustainable commodities supercycle. While the boom had many positives and contributed to Nigeria becoming Africa’s largest economy, it fostered an epidemic of corruption and inefficiency.
Foreign businesses and financial institutions also benefited as some people spent and sometimes hid huge sums abroad, lifted by the rising tide of oil exports and dollar revenues. Now we are living in a new world of low energy prices.
The economy has slowed while unemployment and inflation have jumped. Longstanding structural imbalances and overdependence on imports have been cruelly exposed. We are an oil-rich nation that imports most of our gasoline.
We are a farming nation that imports most of our basic food staples. This is simply not acceptable or sustainable. Our solutions must be in proportion to the challenges. Fundamental change takes time and we are driving not one but three changes to reposition Nigeria for inclusive growth.
Restore Trust
We have begun to tackle the endemic corruption and mismanagement that is crippling our economy and corroding trust in our institutions. The anticorruption fight is at the heart of combating poverty and improving security

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