On Sunday, May 29, 2016, it was a year exactly that President Muhammadu Buhari took over from former president Goodluck Jonathan. However, in the last 12 months of Buhari’s administration, nothing has really changed as expected.
Instead, the economy gets worse by the day. Some entrepreneurs ENCOMIUM Weekly spoke to also said they’re yet to feel the impact of the present administration on their businesses…
OLAJIDE GREAT MCDEDE
The effect of Buhari’s administration on my business in one year is completely negative. And I am sure it’s not only my business that’s affected negatively, the situation is the same everywhere. If we continue like this, most businesses will fold up and that will automatically swell the labour market.
I am not saying Buhari should not fight corruption, he should continue with it. But side by side, he should embark on the policies that will revamp the economy. The suffering is too much now.
MOON OSI IFEOBU
I would say the impact of one year of Buhari’s administration on my business is almost at a standstill. Nothing much has been recorded in terms of profit in one year. However, I still believe something better will come after all these sufferings. It’s only a matter of patience. But I would advise Buhari to pay much attention to the policies that would turn around Nigeria’s economy in one year of his administration so that poverty in the land could be alleviated. He should also concentrate on ensuring both the gas and oil sector are fixed so that life will become easy for the masses.
QUEEN AYO BALOGUN
I would say yes, one year of Buhari’s administration has not been that favourable, business wise. But to me, his one year has been impressive – he’s building a better relationship with other countries and trying to get back our stolen monies. Every right thinking person will know that it isn’t easy to correct the wrongs that could sink our beloved country. We expect that the President should concentrate more on how to make life easier for the poor. We pray God grants him wisdom to do the needful.
The main impacts have been felt in the following areas:
Electricity: for some months now, electricity supply has not been stable and this has put additional pressure on getting customer laundry done on time. This is because the laundry business is greatly reliant on electricity. Thus, without constant supply it has been challenging to operate smoothly.
Rising cost of fuel/cost of doing business: due to the acute shortage of constant electricity supply, the business has been forced to rely on generator. Yet, the protracted fuel shortage across the nation, coupled with the incremental rise in petroleum pump price have made it difficult to obtain fuel to power the generators. Consequently, this has adversely affected the smooth running of the business and increased overall operating cost. Current state of the economy: there has been a reduction in the number of customers patronising the business as most people are complaining of no money and many are trying to cut costs wherever possible. It is my view that concentrating more on creating and implementing pragmatic economic policies will help stimulate business growth across the nation.
ADEBISI ADEEKO, Bisiano Signatures
I won’t blame President Buhari for what is happening now. Though I am not a Hausa lady, my business has not been what it used to be before. People are not coming out to buy. Buhari cannot fix all the problems. All the things the past government was hiding actually came out when they were leaving.
So, I don’t have any problem with Buhari. The only problem I have is customers are not coming to buy item.
I think the government should concentrate on foreign exchange and fuel, I think if the foreign exchange rises, everything will fall back to normal. Everyone that is doing anything in Nigeria is making use of foreign products. For example, when we talk about furniture, most people don’t want to use the usual woods we have here in Nigeria. They are making use of foreign woods. So, if the exchange rate is okay, most things will go back to normal.
PRINCE DEMOLA ADUNOLA
Left to me, I don’t think one year is enough to judge Buhari’s administration because what has been damaged by the former PDP administration of 16 years can’t be corrected in just one year. Buhari should be allowed to do the job and get the direction of our economy first so that he will be able to fix it. Now, Nigerians are complaining about hike in fuel price which has brought some pains but had it been we have an alternative to that, we would all not be relying on fuel in running our generators. We all need to learn the hard way so that we can have a lot to gain later. Although, businesses have been stagnant in the past one year, it affected mine also. I believe we need change in Nigeria and that’s not easy to achieve going by the level of corruption Buhari met on ground. I believe the man will fulfill his promise but not in one or two years.
He should just be focused on his economic policies and ensure every other sector is attended to promptly. We will surely get there.