Nasir el-Rufai, a former Governor of Kaduna State, asserted on Friday that former President Olusegun Obasanjo’s second term was the “most successful” in terms of economic growth, job creation, and inflation rate in Nigeria.
El-Rufai made these remarks during a session at the Africa In the World conference held in Stellenbosch, South Africa. He pointed out that during this period, oil prices began to rise, but the Obasanjo administration effectively managed the windfall. Nigeria’s fiscal health was in excellent shape in 2007, to the extent that when the global financial crisis occurred in 2008, the country was minimally affected.
According to El-Rufai, the second term of President Obasanjo, from 2003 to 2007, marked a period of significant economic growth, job creation, and reduced inflation. During this time, Nigeria implemented integrated planning and benefited from substantial savings, allowing it to weather the global financial crisis without significant internal issues.
El-Rufai’s comments highlight his perspective on economic performance during specific periods of Nigerian leadership, with a particular focus on President Obasanjo’s second term.