[Buhari's "Insane Policies"] One year after: Nigeria’s economy under Buhari on knees- Bloomberg

One year after: Nigeria’s economy under Buhari on knees- Bloomberg

Muhammadu Buhari took office as Nigeria’s president a year ago on a wave of optimism that the ex-military ruler could revive a nation battered by falling oil prices and decades of corruption. Now, Africa’s biggest economy is on its knees, forcing Buhari to throw in the towel on a central pillar of his economic policy — a currency peg, reports Bloomberg.

Going . . .Going. . .DOWN! Nigeria's oil output plunges to 20-year LOW as Niger Delta Avengers intensify strategic attacks -Bloomberg

Going . . .Going. . .DOWN! Nigeria's oil output plunges to 20-year LOW as Niger Delta Avengers intensify strategic attacks -Bloomberg

Surely God has sanctioned the demise of Nigeria

• Strike on Chevron platform cuts output by about 90,000 b/d
• Crude output fell in April to lowest in more than two decades

Nigeria is suffering a worsening bout of oil disruption that has pushed production to the lowest in 20 years, as attacks against facilities in the energy-rich but impoverished nation increase in number and audacity.

Nigeria's Promise turns to Peril as investors head for the exits - Bloomberg slams Buhari once again

Nigeria's Promise turns to Peril as investors head for the exits - Bloomberg slams Buhari once again

The promise of Africa’s biggest economy has turned to peril.

Retailer Truworths Throws in Towel on Biggest African Economy

Buhari's Defense of Naira Chokes Imports, Spurs Black Market

Companies drawn to Nigeria by the prospect of a population bigger than Germany and Turkey’s combined are retreating; those staying have publicly criticized the president, a military strongman in the 1980s who came back to power via an election last year; and foreign investors are pulling their money out.

Nigeria flirts with Economic DISASTER as Naira controls stay - Nigeria receives another hard knock from Bloomberg

Nigeria flirts with Economic DISASTER as Naira controls stay - Nigeria receives another hard knock from Bloomberg

• Central bank resists calls to devalue naira following oil drop
• Currency restrictions hurting businesses, curbing output

Central bank Governor Godwin Emefiele on Tuesday resisted calls -- again -- to weaken the currency despite a plunge in oil prices that’s slashed revenue in Africa’s biggest crude producer. He stuck to his foreign-exchange restrictions that have led to capital flight, curbed output in the continent’s largest economy and led to the naira dropping to a record low on the black market.