Even non-partisan critics are coming down hard. A headline in the Washington

Even non-partisan critics are coming down hard. A headline in the Washington Times last Monday read, “Nigerians disenchanted as new president ‘too slow’ to deliver on lofty campaign promises.” And a headline in The Punch declared that body language is no longer enough. It was an allusion to the fleeting improvements in electricity supplies and some other services that were attributed to the Buhari aura.
But let’s face it, it is Buhari’s bad luck to assume office at this time. It would take a miracle to reverse Nigerians’ plight any time soon. Sure Buhari didn’t do Nigeria any favours by lingering over the formation of a government even as the economy worsened.
Still, if he seems helpless, it is because the forces dragging down the economy are beyond him.
So, should Nigerians just sit back and expect nothing from a president they elected with much fanfare and hopefulness. Definitely not. It is still necessary to put the fire on the administration’s feet. After all, Buhari was aware of the worsening economy when he was making lofty campaign promises.
However, more than ever before, Nigerians will find relevance in these words of American moral philosopher Reinhold Niebuhr: “God grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.” Sure, a philosophical view is not a substitute for food on the table, nor does it ease hunger pangs. But it should put things in perspective and allay misguided expectations.
Here’s the reality. Last year June, Nigeria’s economic mainstay, crude oil, was selling at about $105 per barrel. Today, it is selling at about $48. This is a reduction of more than 50 per cent. To put this in perspective, imagine that your income is cut in half. It means suddenly having to afford less than half of your routine expenses: food, supplies, rent, mortgage, etc. That’s essentially Nigeria’s situation.
And though no one has a grasp on when the prices will stabilise and begin to rebound, the most optimistic projection is the ending of 2016. The only thing that may bring about a quick boost in oil prices would be a decision by the Organisation of Oil Exporting Countries to sharply reduce production. And even that would require compliance by OPEC members and the solidarity of non-OPEC members. From all indications, none of this is likely.