By Jeff Okoroafor
Is the country better off today as it was eight, nine months ago when a well respected, self-disciplined and fearless man in the name of Muhammadu Buhari, walked into the Aso Villa and vowed to work tirelessly for his people? There’s definitely no justifiable or modest way to respond to this question without looking at facts and figures – unemployment rate and economic growth rate.
According to the National Bureau of Statistics (NBS), unemployment rate in the first quarter of last year, 2015, jumped to 7.5 percent, compared to 6.4 percent reached in the fourth quarter of 2014. Third quarter of same year, 2015, pegged it at 9.90 percent from 8.20 percent in the second quarter of same year. Today, according to Trading Economics, unemployment rate has risen to approximately 26.0 percent. On the economic growth rate, the NBS report of 2015 indicated that the real growth rate of the monetary value of all goods and services produced in the country during the period of 2015 slowed to 2.4 percent Y-o-Y, down from 4.0 percent in Q1, 2015 and 6.5 percent in Q2, 2014. Presently, the percentage growth rate of our economy is 2.8 percent or approximately 3.0 percent. Based on these criteria, it is safe to state confidently, that the country is not better off today as it was eight, nine months ago when Buhari took over.
Is the country better off today as it was eight, nine months ago when a well respected, self-disciplined and fearless man in the name of Muhammadu Buhari, walked into the Aso Villa and vowed to work tirelessly for his people? There’s definitely no justifiable or modest way to respond to this question without looking at facts and figures – unemployment rate and economic growth rate.
According to the National Bureau of Statistics (NBS), unemployment rate in the first quarter of last year, 2015, jumped to 7.5 percent, compared to 6.4 percent reached in the fourth quarter of 2014. Third quarter of same year, 2015, pegged it at 9.90 percent from 8.20 percent in the second quarter of same year. Today, according to Trading Economics, unemployment rate has risen to approximately 26.0 percent. On the economic growth rate, the NBS report of 2015 indicated that the real growth rate of the monetary value of all goods and services produced in the country during the period of 2015 slowed to 2.4 percent Y-o-Y, down from 4.0 percent in Q1, 2015 and 6.5 percent in Q2, 2014. Presently, the percentage growth rate of our economy is 2.8 percent or approximately 3.0 percent. Based on these criteria, it is safe to state confidently, that the country is not better off today as it was eight, nine months ago when Buhari took over.
