AN IMPACT ANALYSIS OF THE NIGERIAN ECONOMY UNDER PRESIDENT MUHAMMADU BUHARI 2015- 2023

This study examines the economic impact of President Muhammadu Buhari’s administration on Nigeria between 2015 and 2023. Against the backdrop of promises to revamp the economy through diversification, infrastructure development, and anti corruption measures, the research critically analyses the administration’s economic policies and outcomes. Specific objectives guide the study: to evaluate GDP growth trends, assess the performance of key sectors such as agriculture, oil, and manufacturing, examine the trajectory of unemployment, appraise foreign direct investment inflows, and identify institutional challenges that shaped economic outcomes. A qualitative research methodology was employed, drawing on both primary and secondary data. Primary data were collected through interviews with economic analysts and policy observers, while secondary data were obtained from academic texts, government reports, journal articles, and reputable online sources. The analysis focused on content and thematic evaluation of economic performance indicators and policy implementation. Findings reveal that despite efforts such as the Economic Recovery and Growth Plan (ERGP) and infrastructure initiatives, the Buhari administration struggled to achieve sustained economic growth. GDP growth averaged just 1.9% annually, well below previous administrations, while inflation remained persistently high and unemployment, particularly among youth, reached alarming levels. The study also found that public debt rose significantly, driven by deficit financing and heavy spending on subsidies, while foreign direct investment declined due to policy inconsistencies and insecurity. Sectors such as agriculture and manufacturing underperformed, largely due to structural bottlenecks, poor infrastructure, and insecurity, even as modest progress was recorded in telecommunications and digital innovation. The study concludes that Buhari’s administration fell short of its economic promises, with achievements in select areas outweighed by widespread policy and institutional weaknesses. For Nigeria to achieve economic resilience and inclusive development, future administrations must strengthen institutional capacity, ensure policy coherence, address security challenges, and implement reform agendas that translate into tangible improvements in livelihoods.