Nigeria and the Change Agenda: From Dividends Optimism to Dash Hope

Abstract

After a momentous electoral win that overturned the People's Democratic Party's 16-year hegemonic reign, PMB assumed power in May 2015. At a time when economic inequality and government corruption were at all-time highs and Boko Haram, with its base in Nigeria's northeast, had grown to be the deadliest terrorist group in the world, Nigerians were drawn to his promises to revamp the economy, improve governance, and reduce insecurity and violence throughout the nation. After seven years, PMB's track record in the areas of the economy, governance, and security is uneven. Data were obtained from a range of sources, including documentary records and semi-structured interviews, because the study used a case study research methodology with a qualitative approach. The research revealed that PMB's legacy will be determined by how successfully and shrewdly he uses the post-Covid-19 recovery to advance structural socioeconomic reforms that are politically unpopular but essential, such as the unification of the exchange rate, a redefining of Nigeria's social contract, and a restructuring of the federal system in Nigeria. The document outlined the commendable reforms that PMB's administration had implemented, such as the creation of a Treasury Single Account and ratification of the Africa Continental Free Trade Agreement (AfCFTA). Other politically contentious measures, such as the unification of currency rates, have been postponed by PMB's administration. According to the article, PMB must commit to broad and timely economic and structural changes that unleash change and reshape Nigeria's political settlement if he wants to be regarded as the reformer who set Nigeria on a path toward political maturity and economic prosperity.