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Muhammadu Buhari first contested to be President of the Federal Republic of Nigeria in 2003. He failed. He failed in 2007. He failed in 2011. All this time, he yearned for the Presidency so badly, In fact, he cried when he lost in 2011. When Muhammadu Buhari came in, he met an economy with a rising debt ceiling, dwindling oil prices, and a government with little financial discipline, but there are issues that still need to be addressed.
1. His policies were more reactive than pre-meditated.
One of the reasons why 2016 was ugly is the delay in key policy implementations. Effective and efficient policies are strategic and well planned, but that’s not what we saw. Most of the policies implemented have been as reactions to current economic events rather than in anticipation of them. For example, the removal of the fuel subsidy and the 67.63% hike in the pump price of fuel in May was done in reaction to the lingering fuel scarcity.
2. Unimpressive Fiscal policy.
The fiscal policy is how a government spends money to influence the economy. The fiscal policy plan is in simple terms the budget. Nigeria had no budget until May 6, almost halfway through the year. This clearly put the fiscal policy at a disadvantage and made it work below par. 

4. Lack of coordination between the Federal Government and the Central Bank.

On more than one occasion, the Federal Government gave completely different opinions to the Central Bank on the same economic issues. While this might show that perhaps, the CBN is independent of the Federal Government, as it should be, it is also a pointer to the lack of coordination. Sometimes, the Central Bank went on to blame the Government for the country’s woes, since most of the country’s problems stem from fiscal policy implementation.
5. Inconsistent Forex Policy.
Nigeria has one government, one currency, one timezone, but somehow, we have four exchange rates at the moment; the Interbank Rate, FMDQ (Financial Market Dealers Quotations), Manufacturer’s Rate (for importation), and the Parallel market (black market). You don’t have to be an expert to know that this is not a good thing.
6. There was no clear economic direction.
For every journey, there’s a map. One that can guide not just the bearer of the map, but everyone who looks at the map. Almost 20 months after Buhari was sworn in as President, there is still no clear economic blueprint on where the economy is headed. How do we intend to score when we have no clear goals?
7. Poor management of the South-South militancy.
A new militant group began this year, Niger Delta Avengers, targeting not only oil installations but some infrastructure that are important for energy generation. While this might seem insignificant, for a country struggling with abysmal crude oil prices, and a suffering economy, the Avengers effect was more significant than we’d like to admit. 


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