As President Muhammadu Buhari passes the baton of the economy to Bola Ahmed Tinubu, the results appear to be largely negative.
Important macroeconomic measurements are all indicating negative trends, with many of them significantly weaker than what was handed over to the outgoing administration in 2015.
From inflation rates to Gross Domestic Product (GDP) and currency exchange rates; from the performance of the money market to the overall financial markets and the real sector, the picture is grim.
In April 2023, the headline inflation rate surged to 22.2%, marking an 18-year high. This stands in stark contrast to the single-digit inflation rate of 9.0% that President Buhari inherited back in June 2015.
Unfortunately, as he prepares to hand over the reins of power to Tinubu, the inflation rate remains stubbornly in the double-digit range and shows no signs of abating, as of the time of this report.