After one year in office, the President of the Federal Republic of Nigeria, Muhammadu Buhari has opened up on the challenges he’s faced so far running the country.
The past one year in office of President Buhari has witnessed several disturbing economic policies and it’s adverse effect on the nations economy particularly, the value of the Naira with respect to the dollar.
Speaking on the problems encountered, the President revealed that the country was plagued with a lot of problems prior to his ascension into office on May 29, 2015.
He said: “We came into power at a very difficult time. We discovered too late that we had put ourselves as a nation in a mono-economy, depending only on petroleum,”
The president noted the price of Petroleum products in the international market which fell from about $100 per barrel to a meagre $30 during his administration. He noted that the fall in price revealed to him that the nation was sponsored mainly on the income from petroleum products.
Buhari also noted that his administration upon resuming office found out that the nation imported everything including food.
Speaking further on the challenges faced by his one year old administration, Buhari said: “There are a lot of problems in the country. You have insurgency in the North-East”, he also noted the rising unemployment rate in the country alongside the increasing abandonment of Agriculture and solid minerals.