tmp_13261-201612_Nigeria-in-2017941746745

INTRODUCTION
2016 proved to be a difficult year for Nigeria which saw the highs and lows of important metrics.
Sadly, there were highs where there should have been lows, and lows where there should have
been highs. We had highs in inflation, in unemployment and in deaths from famine while the lows
were in oil and tax earnings, FDI, in percentage of CAPEX budget spent, and the list goes on.
2016 was the year when the Buhari administration would run its first full year budget, starting the
year with a cabinet in place and all the urgency to tackle the issues that had begun to accelerate
was expected. Sadly, this was not to be. From the fiasco around passing the budget, to bungled
attempts at FX policy, a deterioration in the security situation, and policy flip flops, historians will
view 2016 as a lost opportunity to reset Nigeria and set it on the path to turnaround its fortunes.
The key question that begs an answer is if the quality of life of Nigerians has improved in 2016 as
against the previous year, and the ultimate purpose of our year ahead must be to paint the picture
of what the life of the Nigerian as an individual and Nigeria as a nation will be in 2017 amidst the
myriad of domestic and international pressures the year will bring. We reiterate that government’s
role is not to simply explain, but to plan for, direct and react appropriately to these pressures in
order to deliver a better quality of life to Nigerians.
Cheta Nwanze
Head of Research
SBM Intelligence