A New York-based analysis firm has forecasted doom for the ruling All Progressives Congress, APC and its principal, President Muhammadu Buhari at the upcoming 2019 general elections.
The firm, Teleo Intelligence, revealed that recent data from the Osun state governorship Elections has shown that President Buhari could lose in 2019. It will be recalled that the Opposition Peoples Democratic Party, PDP secured the highest votes in the governorship election which has been declared inconclusive by the Independent National Electoral Commission, INEC.
In a report obtained by Bloomberg, the intelligence firm said if the opposition manages to unite, February election would be a tough one for the ruling party.
“There is already a clear message sent from Osun State: provided the PDP remains united, and the vote is reasonably free and fair, Buhari and his APC are likely to lose the general election,” Malte Liewerscheidt, an analyst at Teneo, said.
Also, HSBC bank in its report titled: “Nigeria: Papering Over The Cracks”, released recently said the Nigerian economy will suffer setback if Buhari wins in 2019.
Parts of the report read;
“A second term for Mr Buhari however raises the risk of limited economic progress and further fiscal deterioration, prolonging the stagnation of his first term, particularly if there is no move towards completing reform of the exchange rate system or fiscal adjustments that diversify government revenues away from oil.
In the near term, however, the election impact is likely to be negative as increased political uncertainty precludes policy reforms, weighs on confidence, deters investment spending and restrains the growth outlook.”