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KSA- Buhari inherits firestorm of troubles
(MENAFN- Arab News) LAGOS: One month after taking office Nigeria's new president has not yet named a Cabinet to help him cope with this country's firestorm of troubles.
The petroleum-driven economy is in crisis with a months-long fuel shortage the naira currency is falling tens of thousands of state civil servants have been unpaid for months and northeast Nigeria continues to be plagued by violence from extremists.
In the latest blow to Africa's largest economy last month a government body revealed that more than $20 billion in oil revenue is missing and the excess crude account the government's rainy day savings fund has shrunk from $4.1 billion in November to $2 billion now.
Buhari promptly fired the entire board of the Nigerian National Petroleum Corp and he's promised to recover stolen state funds.
The president's supporters say Buhari's reputation as an anti-corruption crusader is helping spur a needed culture change in Nigeria.
Buhari earned his corruption-fighting bona fides as Nigeria's military dictator in the 1980s when he arrested many corrupt politicians and had them tried at military tribunals that sentenced some to life imprisonment.
He was elected in March on promises to curb endemic corruption halt a five-year-old uprising in the northeast and rescue an economy battered by graft and a halving of the price for oil the commodity that provides about 80 percent of government revenue.
But the coalition of parties that helped him become the first person to beat a sitting president in Nigeria already seems to be falling apart.
The petroleum-driven economy is in crisis with a months-long fuel shortage the naira currency is falling tens of thousands of state civil servants have been unpaid for months and northeast Nigeria continues to be plagued by violence from extremists.
In the latest blow to Africa's largest economy last month a government body revealed that more than $20 billion in oil revenue is missing and the excess crude account the government's rainy day savings fund has shrunk from $4.1 billion in November to $2 billion now.
Buhari promptly fired the entire board of the Nigerian National Petroleum Corp and he's promised to recover stolen state funds.
The president's supporters say Buhari's reputation as an anti-corruption crusader is helping spur a needed culture change in Nigeria.
Buhari earned his corruption-fighting bona fides as Nigeria's military dictator in the 1980s when he arrested many corrupt politicians and had them tried at military tribunals that sentenced some to life imprisonment.
He was elected in March on promises to curb endemic corruption halt a five-year-old uprising in the northeast and rescue an economy battered by graft and a halving of the price for oil the commodity that provides about 80 percent of government revenue.
But the coalition of parties that helped him become the first person to beat a sitting president in Nigeria already seems to be falling apart.
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