LAGOS — First it was falling oil prices that plagued Nigeria, then came inflation, power shortages, and a humanitarian crisis in the north. "Suddenly, we’re a poor country," Nigerian President Muhammadu Buhari said on Thursday in Abuja, the nation’s capital."Before we came to office, petroleum sold for about $100 per barrel. Then it crashed to $37, and now oscillates between $40 and $45 per barrel."By the end of the month it’s likely Nigeria will officially enter a recession.Adding insult to injury, this week the International Monetary Fund said that South Africa overtook Nigeria as Africa’s biggest economy in dollar terms — a result of the anaemic naira. "Both countries are experiencing difficulties, but Nigeria is taking a more slower pace to recover. I don’t think Nigeria can regain its position anytime soon," Manji Cheto, sub-Saharan Africa analyst at London-based Teneo Holdings, told AFP.That’s because Nigeria’s problems, a result of decades of mismanagement, have no easy fix. ...
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