OKOWA'S SCORECARD 2015 - 2018

Abstract

This administration assumed office in 2015 as the Nigerian economy faced a down turn following rapidly declining price of crude oil, the nations’s major foreign exchange earner. As a monocultural economy of high fiscal dependence on crude oil revenue, crude oil price was steadily heading for new lows and at some point, as low as USD 30/ barrel in 2016. A combination of faulty and uncertain macroeconomic policies and the declining crude oil price pushed the national economy into a recession which reached its peak in 2016. At our subnational level, sound economic planning and practices with focused implementation resulted in significant growth in Agriculture and Services sectors throughout the period of the national economic recession.