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Nigeria News

Economy: OBJ Performed Better Than GEJ In His First 5 Years

Ngozi Okonjo Iwuala
This is what Premium Times has to say about the economy under the Goodluck Jonathan Led administration.

"During 2009-2013, the first five years of President Jonathan's administration, real GDP growth averaged 6-7 per cent, a fact often touted by the government. But this record is much lower than that of the first five years of civilian rule (1999 – 2005), when growth averaged 11.1 percent. (Figure 1) This is despite the fact that oil prices were much lower at that time than now, and foreign investors’ appetite for Nigeria was not as strong as now. The difference, it seems, is in the leadership and policy choices of the different periods. Therefore, President Jonathan's achievement can hardly be said to be “unprecedented”. It's actually poorer than his predecessor's (OBJ's) achievements in less benign circumstances."

The statistics show that GEJ administration has done well, but what remain unclear is the economic drivers(Oil and what?). Nigeria can not be proud to run an economy that is solely dependent on crude.
The other side of the coin is the prevailing poverty in the land. The economic growth of Nigeria is not affecting the lives of the average man and woman in the street positively, hence the public outcry for better and sustainable economic policies and diversification of the economy.