THE 2015 JONATHAN/BUHARI TRANSITION AND THE NIGERIAN ECONOMY

ABSTRACT

This study looks at the 2015 Jonathan/Buhari transition and the Nigerian economy. The aim is to observe the effect of political transition on the Nigerian economy. The Nigerian economy has seen different regime of government and each of this regime had its peculiar effect on the economy. In the course of this study Past administration were studied, by looking into the economic history of Nigeria during colonial and post-colonial period, and the effect of their various economic policies. The Johnathan and Buhari administration was used as a case study, looking into their economic policy and the effect it had on the nation’s economic growth. The Jonathan administration kick stared the transformation agenda with the aim of making the Nigerian economy a global economic powerhouse. While the Buhari administration came onboard with The Economic Recovery and Growth Plan (ERGP) which aimed at combatting corruption, enhancing security and reviving the Nigeria economy. This study aimed at looking at the effect of these various economic policies introduced by both regime and how the nation’s economy can be stable despite this transition. By looking into the various economic policies of past and present administration and their effect on the Nigerian economy, factors such as political stability, economic diversification etc. that can aid stable economy despite political transition were looked into. This study is built on the political economy theoretical framework. The study looked at Karl Max theory of Base and Superstructure. Through this framework the study considered reasons behind economic policy formulation by various administrations. The study examined reasons the role of the political elite in Nigeria play in economic policy formulation. Lastly, conclusion and recommendation was considered to enabled a better political transition and a stable economy in Nigeria.