Buhari has not destroyed the economy. How do you destroy what was not there? By Ademola H Adigun

I recall a time when GEJ out of frustration asked what roads there were that he destroyed or what schools had been built that had collapsed under him and explained why the army was incapacitated to fight the BH war because several before him had not bought weapons for it. No one cared for the explanation. The buck stops on the table of the CEO.

An economy that is dependent on one major source of earning for its FX, a net importer and one with low productivity where services is the largest contributor to the GDP is a false economy.

One single external or internal act will damage it. So a contribution of crashed crude price initially, militancy and no savings caused our problems.

Yes and truly the Buhari govt was slow to act. It dilly dallied on making the tough decisions and tried being populist when it had no business doing that.

The recession is not particular to Nigeria. All countries dependent on crude sales are making adjustments to living. What those countries do not suffer from are: an internal strife, wilful damage of crude production, grand scale larceny at the levels we have or had, and a lack of buffers. With the exception of Venezuela.

I have been critical of some government decisions, but I have to applaud many in sincerity. Look we were an oil thieving economy drunk on petroleum with the concentration of wealth in a few hands. Our lack of diversified earnings has come home to roost.

We spent years artificially defending our Naira value. Now we cannot and should not. And in a way we really are not. In a small way.

The Nigerian wants to loose weight  without dieting. Gain muscles without going to the gym. We are a microwave nation. Instant gratification and instant turn around. Ignore the reality and wish the economy back to life.

It does not happen anywhere in the world. It will not happen here. But what should happen is that a road map to the future should be communicated. An engagement on expectations and reality checks should be done. Policy flip flops should also stop. Then PMB should focus on one term. That frees him to lay the foundations of a new earning diversified economy. Gives him a full term of 4 years without the distraction of reelection.

Many Nigerians still refuse to face the reality of adjustments. Many states and the federal level not doing enough on cutting down recurrent expenditure and realigning the civil service.

CBN sending out mixed messages on the fx. Arbitrage not ending and monetary policies not realistic.

But there is plenty of hope. There is plenty to cheer. The routing of BH a major earning drainer, the shaky Niger Delta peace allowing resumed production to levels that can earn more income, the removal of subsidy of some products and the partial war against impunity are good.

It is still a long way to El dorado and institutional reform is yet to start. But it will. I lack patience and many of us do. We did not force them to make the promises they made. But in the corner of our heart, we know the truth. It was a paper economy.

You do not have to agree.