Nigeria has suddenly become a poor country, President Muhammadu Buhari has lamented.
His comments came as South Africa yesterday regained the title of Africa’s largest economy, two years after the West African state rebased its GDP to claim the spot.
Speaking at a meeting in Nigeria’s capital, Abuja, yesterday, Mr Buhari said:
It has been a very difficult year for Nigeria. Before we came to office, petroleum sold for about $100 (£77) per barrel. Then it crashed to $37, and now oscillates between $40 and $45 per barrel.
“Suddenly, we’re a poor country, but commitment to transparency and accountability is not making people know that there is severe shortage.”
Mr Buhari took office last year after winning elections by a convincing margin. He promised to tackle corruption and boost Nigeria’s economy.