Nigeria’s president says Boko Haram fuelled by unemployment, poverty

Nigeria’s President Muhammadu Buhari recently discussed the challenges of youth unemployment and poverty in the nation during a televised interview with local media platform Arise News. He highlighted that the Boko Haram insurgency in Northern Nigeria is largely fueled by these factors. The conversation revolved around security, the economy, and the political landscape, shedding light on key issues facing the country. Joining the discussion were Emmanuel Odiaka, CEO of ECOB Capital, and Kayode Akindele, Partner at TIA Capital. During the interview, Buhari emphasized the need for more local-level efforts to address security concerns, pointing out the importance of government action at the grassroots level. He also highlighted the significance of engaging beyond his usual supporters by speaking to a broader audience. The president underscored the three key focus areas of his administration since 2015, which include security, the economy, and anti-corruption measures. A generational gap was evident in Buhari's remarks, particularly concerning the NSARS movement and the disconnect between the youth and older generations. Both Odiaka and Akindele expressed their views on the president's comments, noting both his awareness of the country's challenges and the need for improved communication to bridge the gap with the younger population. The need for inclusivity and listening to the grievances of various groups within Nigeria was highlighted as a crucial aspect that the president should focus on. Odiaka suggested that Buhari missed an opportunity to reassure the youth that he understands their struggles and aspirations for a better future, calling for more dialogue and engagement with different segments of society. On the economic front, Buhari discussed his administration's efforts in key sectors such as infrastructure and power. However, the assessment of progress in the power sector remains a point of contention, with concerns over the lack of significant improvement in electricity supply for Nigerian households. The president's strategy to strengthen the fragile economic recovery post-COVID-19 revolved around a renewed focus on security and infrastructure development. The President also received feedback on the World Bank's revised GDP growth forecast for Nigeria in 2021, citing positive reforms in the exchange rate regime and higher oil prices. Odiaka highlighted the importance of sustaining crude oil prices and increasing vaccination coverage to stimulate economic growth. He emphasized the need for comprehensive security measures without resorting to extrajudicial killings and called for full deregulation of the downstream sector to drive industry growth. In conclusion, Buhari's interview shed light on the pressing issues of youth unemployment, poverty, security challenges, and economic recovery facing Nigeria. The call for greater inclusivity, dialogue with diverse groups, and strategic reforms in key sectors remains critical for addressing the nation's complex challenges and paving the way for sustainable development.