Lack Of Policy Hurts Nigeria's Economy As Buhari Marks 100 Days - Reuters

LAGOS/ABUJA (Reuters) - Nigerian President Muhammadu Buhari has made sweeping changes in the oil sector and armed forces during his first 100 days in office but done little to convince experts that he has a clear strategy for Africa's biggest economy.

Buhari, a former military ruler, made Nigerian history in March by becoming the first candidate to defeat an incumbent president at the polls, after promising to crack down on corruption and crush a bloody insurgency by the Islamist militant group Boko Haram.

Revellers in the capital Abuja celebrated his inauguration in May by chanting "Sai Baba", which means "All hail, father" in the Hausa language of northern Nigeria.

As Buhari prepares to mark 100 days in office on Saturday, his critics are now using the less flattering sobriquet "Baba Go Slow".

Chief amongst their complaints is the 72-year-old's decision not to appoint a cabinet until later this month, putting the economic policy of the country of 170 million people in limbo, and leaving the likes of the central bank to fill the vacuum.

Buhari's supporters say he has needed time to analyse the inner workings of ministries that have been run exclusively by the People's Democratic Party (PDP) since the return to civilian rule in 1999.

They point to his restructuring of the state oil company NNPC, whose board Buhari sacked in June, when he appointed an ExxonMobil executive as managing director. Crude oil sales account for around 70 percent of Nigeria's state revenues, and NNPC has been accused of failing to account for tens of billions of dollars in the last few years.

Comments