Buhari’s Administration Prioritized Institutional Reforms Over Short-Term Populism – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) has expressed deep sorrow over the passing of former President Muhammadu Buhari, while paying tribute to his contributions to Nigeria’s economic reform and governance architecture.
Its Director General, Dr Chinyere Almona, the LCCI extended condolences to Buhari’s family, the Federal Government, and the Nigerian people, describing the late president as a statesman whose leadership from 2015 to 2023 was marked by “strategic patience, political courage, and a commitment to institutional reform.
“President Buhari leaves behind a legacy defined by a deep commitment to fighting corruption, blocking revenue leakages, strengthening public finances, and driving structural reforms,” Almona stated.
According to the Chamber, the former president navigated the country through several economic and global crises—including recessions, oil price shocks, and the COVID-19 pandemic—while laying foundations for a more resilient and transparent economy.
Among Buhari’s landmark achievements, the LCCI cited the enactment of the Petroleum Industry Act (PIA) in 2021 as a defining reform. The law, which had lingered for nearly two decades in legislative limbo, introduced a modern framework for oil and gas governance, empowered host communities, and restructured the national oil companies for improved efficiency.
The Chamber also highlighted the signing of the Companies and Allied Matters Act (CAMA) 2020 as a milestone in the modernization of Nigeria’s business environment. The law simplified corporate operations, introduced transparency measures, and boosted investor confidence.
“Through the annual Finance Acts from 2019 to 2022, as well as the Deep Offshore and Inland Basin PSC Amendment, the Buhari administration reformed tax policies, broadened the non-oil revenue base, and strengthened fiscal accountability,” the statement noted.
On infrastructure, the LCCI credited the Buhari administration with delivering major projects, including the Second Niger Bridge, Lagos-Ibadan and Itakpe-Warri rail corridors, and the rehabilitation of over 13,000 kilometers of roads nationwide.
It also praised initiatives such as the Presidential Power Initiative with Siemens and the National Digital Economy Policy and Strategy, which boosted broadband access and digital innovation.
The business community, particularly MSMEs, also benefited from targeted programs such as the MSME Survival Fund, N-Power, and Market Moni, the Chamber said. Executive Orders 003 and 005 encouraged local content by mandating the use of Nigerian goods and services in government procurement.
Buhari’s commitment to ease of doing business reforms, driven by the Presidential Enabling Business Environment Council (PEBEC), resulted in measurable improvements in Nigeria’s global competitiveness, the LCCI added.
Governance reforms under Buhari included the implementation of the Treasury Single Account (TSA), Integrated Payroll and Personnel Information System (IPPIS), and the Whistleblower Policy—initiatives credited with improving fiscal discipline and transparency.
“While public opinion on his administration may vary, President Buhari will be remembered for prioritizing long-term institutional reforms over short-term populism,” the Chamber observed. “His emphasis on economic discipline, local content, and public sector accountability leaves a legacy that future administrations must build upon.”
The LCCI urged Nigeria’s current and future leaders to learn from both the successes and shortcomings of Buhari’s tenure, while continuing to drive enterprise development, innovation, and inclusive growth.
“May his soul rest in perfect peace,” it concluded
Buhari’s Administration Prioritized Institutional Reforms Over Short-Term Populism – LCCI is first published on The Whistler Newspaper
