Well-known economist Bismark Rewane, who worked closely with late former President Muhammadu Buhari, has said that Buhari was afraid of making economic reforms.

Rewane shared this on Channels Television during a special program in memory of the former president. He said Buhari didn’t act fast when he needed to, especially during difficult economic times.

According to Rewane, by the time Buhari finally formed his cabinet, Nigeria was already suffering from a sharp drop in global oil prices. The price of crude oil had fallen from $110 to just $40 per barrel.

He explained that Buhari’s economic team wasn’t well prepared to handle the problems facing the country at that time. They struggled to respond effectively.

Rewane said, “It took Buhari six months just to name his ministers. He was afraid of making reforms.”

He added that Buhari’s fear of economic reforms may have come from his time as a military leader. Rewane described him as overly careful, sometimes too much so. By the time his cabinet was ready, the economy had already become very unstable, and Nigeria was unprepared for the situation.

The sharp drop in oil prices and lack of quick action made things worse, and the country suffered because of it, Rewane added.

Buhari served as Nigeria’s civilian president from 2015 to 2023. He passed away on Sunday, July 13, 2025, at the London Clinic. He was buried with full state honours in his hometown, Daura, in Katsina State, on Tuesday.

Top Nigerian leaders, including President Bola Tinubu, Vice President Kashim Shettima, and former Vice President Atiku Abubakar, were among those who attended the funeral.