Workers’ Day: Civil servants lament hardship under Buhari govt
As Nigeria joins other nations of the world to mark the 2023 International Workers’ Day on May 1st, some citizens, particularly civil servants, have lamented the economic crisis bedevilling the entire nation since the beginning of the current administration.
The outgoing administration led by President Muhammadu Buhari had witnessed some level of crisis in Africa’s Largest economy, affecting the welfare of workers.
Buhari, who was given the mantle of leadership on May 29, 2015, has battled to solve several economic problems, particularly inflation that imposed unbearable hardship on citizens.
Recall that for the first time in 25 years, the nation’s economy went into recession in the second quarter of 2016, a year after President Buhari took over power from his predecessor, Goodluck Ebele Jonathan.
A few months ago, in November 2022, the World Bank revealed that development progress in Nigeria had stagnated since 2015 when Buhari took office as President.
It said, “Nigeria’s development progress has stagnated since 2015. Between 2001 and 2014, Nigeria was a rising growth star in West Africa, with an average growth rate of seven per cent per year, and among the top 15 fastest-growing economies globally.”
The Consumer Price Index, reported by the Nigerian Bureau of Statistics (NBS) in March 2023, indicated that Nigeria’s inflation rate accelerated to a new 17-year high of 22.04 per cent.
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Daily Post Nigeria
Daily Post Nigeria
NEWSWorkers’ Day: Civil servants lament hardship under Buhari govtPublished on April 30, 2023By Ochogwu Sunday
As Nigeria joins other nations of the world to mark the 2023 International Workers’ Day on May 1st, some citizens, particularly civil servants, have lamented the economic crisis bedevilling the entire nation since the beginning of the current administration.
DAILY POST reports that the outgoing administration led by President Muhammadu Buhari had witnessed some level of crisis in Africa’s Largest economy, affecting the welfare of workers.
Buhari, who was given the mantle of leadership on May 29, 2015, has battled to solve several economic problems, particularly inflation that imposed unbearable hardship on citizens.
Recall that for the first time in 25 years, the nation’s economy went into recession in the second quarter of 2016, a year after President Buhari took over power from his predecessor, Goodluck Ebele Jonathan.
A few months ago, in November 2022, the World Bank revealed that development progress in Nigeria had stagnated since 2015 when Buhari took office as President.
It said, “Nigeria’s development progress has stagnated since 2015. Between 2001 and 2014, Nigeria was a rising growth star in West Africa, with an average growth rate of seven per cent per year, and among the top 15 fastest-growing economies globally.”
The Consumer Price Index, reported by the Nigerian Bureau of Statistics (NBS) in March 2023, indicated that Nigeria’s inflation rate accelerated to a new 17-year high of 22.04 per cent.
The unfortunate development came with increasing prices of commodities in the market, worsening the welfare of Nigerian workers.
According to the World Bank, Nigeria has one of the highest inflation rates globally and the seventh highest in sub-Saharan Africa in 2022.
A recent market survey across several major markets in Nigeria revealed that the prices of food items and other essential commodities increased by over 100 percent in the last five years.
This is evident in the price differences observed on all commodities almost on a daily basis, leaving Nigerian workers to spend more than their earnings to get food, shelter, and other important needs.
