Improved Economy: Nigerians Fault Buhari’s Indices

Published

4 years ago

January 5, 2022

President Muhammadu Buhari’s assertion that the economy had improved has been opposed by Nigerians.

In his New Year speech, Buhari said his administration recorded significant achievements despite the downturn in local and global economy.

He noted that the lessons learnt from COVID-19 encouraged increased efforts to mitigate its socio-economic effects.

The President mentioned the most recent Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS).

The 4.03% growth recorded in the third quarter of 2021, according to him, confirms recovery, confidence and effective blueprint.

“This recent growth is closely followed by the 5.1% (year on year) growth in real terms recorded by Nigeria in Quarter 2 of 2021.

“This growth was one of the best recorded by any nation across Sub-Saharan Africa. The 5.1% growth at that time remains the highest recorded by the Nigerian economy since 2014”, Buhari stated.

But responding, a civil engineer based in Ibadan, Toba Atolagbe, disagreed with the President, stressing that the economy has become worse, “especially in the last three years”.

The builder advised Buhari against relying on figures on paper, but to meet people on the streets and allow the best brains handle policies.

“His ego is large, a big problem. He should let go of it and put his vice in charge of anything that has to do with the economy.

“We all witnessed how the economy progressed when Yemi Osinbajo took charge”, Atolagbe recalled.

Precious Tombari, a staff of a firm in Rivers, maintained that the government’s position was different from what was obtained nationwide.

The citizen said the rise in the cost of food items, transport, kerosene, gas and other necessities had made life become unbearable for the poor.

“The major success of any government is the provision of cheap livelihood for the masses and this isn’t the case.

“Basic things are now luxury for the ordinary man. There are now few affordable houses, food, amenities, etc.

“This government is a big failure. All they do is come up with ridiculous laws that frustrate the majority of the population.

“All sectors are failing; doctors and tech guys are relocating. The number of people who have left the country since 2015 is an all-time high.”

Tombari urged the government to put in place structures and regulations to help the commoners access the basic things.

Another respondent, Tosin, a fashion designer in Lagos, told the federal government to “get uncomfortable with 2%, 3% growth rates”.

“Nigeria needs to grow by at least 26% for the next 30 years to break away from shambles into abundance”, he advocated.

On Tuesday, Buhari appointed Doyin Salami as his Chief Economic Adviser. He was Chairman of the Presidential Economic Advisory Council (PEAC).

The Associate Professor obtained a Doctorate degree in Economics from the Queen Mary College, University of London.

Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO

Published

1 day ago

May 4, 2026

Editor

Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”

He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.

Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”

According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.

The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.

He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.

According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.

He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.

“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.

“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.

“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”

When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”

Business

JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike

Published

3 days ago

May 2, 2026

Editor

Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.

Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.

This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.

Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.

According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.

However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.

This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.

Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.

Business

Dangote Refinery Hikes Petrol Price

Published

6 days ago

April 29, 2026

Editor

Dangote Refinery has increased the ex-depot price of petrol by N75.

The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.

This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.

DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.