Tuesday April 28th, 2015
Tuesday April 28th, 2015
Latest

What Buhari must do to move economy forward (2)

  /   in Broken Links 1:58 am   /   Comments

President-elect Muhammadu Buhari (L) waves in Abuja on April 1, 2015. Nigeria's new president-elect Muhammadu Buhari hailed polls that will lead to the first democratic change of power in Africa's most populous nation as "historic" hours after he secured a decisive victory. AFP PHOTO

To ensure that Nigeria’s growth can be wide, inclusive and sustained, the incoming Muhammadu Buhari administration must focus on building infrastructure, institutions and people. Nigeria has big infrastructure gaps, which represented huge costs to businesses and to people. Over the past three decades, per capita output of electricity in Nigeria remained virtually flat. Only 16 per cent of all roads are paved, compared with 58 per cent in South Asia. The investment needs to address this is in the region of billions of dollars.

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What Buhari must do to move Nigerian economy forward

  /   in Broken Links 12:46 am   /   Comments

Buhari-victory

Nigeria’s economic potential is well known. The country’s considerable resource endowment and coastal location ordinarily should allow the emergence of a strong growth pole for Sub-Saharan Africa. Over the years, Nigeria has realised very little of this potential. Instead, its history has been marked by economic stagnation and associated with declining welfare and social instability.

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PDP, APC your promises are vague

  /   in Broken Links 12:10 am   /   Comments

APC-PDP

During the student union election in 1979/80 at the University of Benin, one Liad Tella, who was of the economic and Statistic department thought the university community how sacred facts can and how effective statistic can be used for electioneering campaign.

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Who will fix the economy?

  /   in Broken Links 12:47 am   /   Comments

economy

Certainly the great challenge facing Nigeria today is that of leadership. Leadership at all levels, in government, public sector institutions and businesses run by Nigerians lack effective leadership. Most are there either by chance or through godfatherism.

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Tough times ahead after elections

  /   in Broken Links 4:10 am   /   Comments

economy

The 2015 election will certainly come and go but the after effect may linger for a long time. Whether it is PDP or APC that eventually wins the presidential election, the party that will come to power post-election, had better get prepared for the handling of the economy. As it stands, the nation is on a financial cliff that can fall off any time except a miracle happens. The one commodity that provides life support for the economy has seen its price at the international market fall to as low as $58 per barrel.

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PDP, APC: Your promises are vague

  /   in Broken Links 1:35 am   /   Comments

Buhari and Jonathan

During the student union election in 1979/80 at the University of Benin, Mr. S.A. Tella, now a professor of Economic and Statistics department taught the university community how sacred facts and effective statistics can be used for electioneering campaign.

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Latest

Nigeria is in a foreign exchange quagmire

  /   in Broken Links, Finance 1:44 am   /   Comments

naira-Dollar

The recent devaluation of the Naira has again brought the vulnerability of the average Nigerian to the fore. Almost every housewife today tells the husband that the exchange rate of the Naira to the dollar has gone up. This is because in the market place, traders adjust prices along the day’s exchange rate swing. Many are wondering why this should be so. In finance, an exchange rate between two currencies is the rate at which one currency will be exchanged for another.

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Sanusi/Soludo: Where to find the unaccounted billions

  /   in Broken Links 12:41 am   /   Comments

sanusi-interview

When in late 2013, Lamido Sanusi, then Central Bank governor wrote to President Goodluck Jonathan asserting that about $20 billion was not accounted for by NNPC, many Nigerians dismissed the claim with a wave of the hand. The Federal Government, incensed by the claim, appointed an audit firm to carry out a forensic audit of NNPC account.

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Diesel cabal at it again, ripping off Nigerians (2)

  /   in Broken Links 12:16 am   /   Comments

CRUDE-OIL

In this column last Monday, I said that diesel mafias are milking ordinary Nigerians dry by making undue profit through importation. I said that prices of crude has long crashed yet these men in unwholesome diesel trade have refused to let Nigerians get the benefit of falling oil prices by reducing the pump price of diesel.

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Latest

Deregulate petrol price now, or never

  /   in Broken Links, Bus Stop Parliament 12:57 am   /   Comments

Hawkers of PMS along Kashia road, Kaduna

The Federal Government directive last week Monday to slash fuel prices is a sobre and welcome development which Nigerians should all applaud. The projected direct effect of this development is immediate reduction in the cost of public transport fares, transportation of goods and reduced production costs of goods and services. This ultimately should lead to reduction in prices of basic commodities, and increased buying power for the citizenry.

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The proverbial rains are here; Nigeria which way to go?

  /   in Broken Links 12:17 am   /   Comments

Nigeria-map

Looking at development in the international oil market, Nigeria may be heading for another difficult time from external shock. This time, the impact on the economy may be worse than the impact the 2008 global financial crisis had on it. Oil prices are tumbling and traditional importers of crude oil are either finding alternatives or are over supplied. Nigerian economy may face very difficult time in the next two or so years.

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Of CPC, Coca Cola and invincible hand of Presidency 2

  /   in Broken Links 12:30 pm   /   Comments

1000-naira-notes

When last week I wrote that CPC was wrong to have ordered Coca Kola to pay the sum of N100 million for pushing to the market two half filled cans of Sprite, there were immediate reactions. One was particular and luckily enough he called instead of sending the text message he had intended.

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Of CPC, Coca Cola and the invincible hand of presidency

  /   in Broken Links 12:39 am   /   Comments

economy

The Consumer Protection agency is now embroiled in a controversy that is leading no where. It has drawn the Council and Coca Cola into a legal battle. The issue in the matter leaves a very sour taste in the mouth.

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Rebuilding Nigeria’s economy is a task that must be done

  /   in Broken Links 12:40 am   /   Comments

JONATHAN

President Goodluck Jonathan in his June 2012 Democracy day broadcast stirred the hornet’s nest. He raised fundamental issues of the economy, some of which with the benefit of hindsight were wishes as usual with Nigerian leaders.

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The unending woes of Naira exchange rate

  /   in Broken Links, Finance 12:11 am   /   Comments

naira-Dollar

The pressure on the naira at the foreign exchange market might continue to mount and see further depreciation in value of the naira this year. The Naira fell by 200 kobo on Tuesday, as the parallel market exchange rate rose to N180 per dollar from N178 per dollar on Monday.

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Nigerians must search carefully for the next leaders

  /   in Broken Links 12:25 am   /   Comments

Nigeria

The greatest challenge facing Nigeria today is that of leadership. Nigeria needs a leader that the people can identify with and can inspire them to great heights.

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Think of the alternative before making the choice of who leads

  /   in Broken Links 12:17 am   /   Comments

AKWA IBOM STADIUM President of Ghana John Mahama, President Goodluck Jonathan, and President of Cote D’lvoire Alhassan Ouattarra  during the commissioning ceremony of the 30,000 Capacity Akwa Ibom International Stadium, held in  Uyo, Akwa Ibom State. Photo by Abayomi Adeshida

Economists usually begin their thoughts with choices, scale of preference and alternatives forgone. Individuals, households, firms and nations make choices. The choice that each of these entities makes depends on how informed the one making the choice is on available alternatives and the opportunity cost of the choice made. The opportunity cost is the alternative forgone for the purpose of making the choice. There are economic choices as well as political choices.

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I and others, the worm eating up Nigeria

  /   in Broken Links 12:29 am   /   Comments

economy

It was Dr. Martin Luther King, who once said: “Life’s most persistent and urgent question is, ‘What are you doing for others?” Great men that walked on this planet earth have often challenged themselves with this question, and have ruled their conscience in their service to humanity.

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Latest

Naira devaluation and the role of non-oil export agencies

  /   in Broken Links 2:10 am   /   Comments

1000-naira-notes

Crude oil prices extended their losses and sunk to fresh four-year lows late last week as expectations of a cut in OPEC oil production faded following the Saudi Arabian oil minister’s comments a day earlier.

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Latest

Nigeria needs help from within and outside

  /   in Broken Links 12:09 am   /   Comments

economy

On April 28 we published this article in which I said that Nigeria needs help from within and from outside the country.

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Latest

Tough times ahead for investors in Nigerian banks

  /   in Broken Links 1:39 am   /   Comments

BANK

Signals emerging from the global economy can best be described as complex considering the trends in macroeconomic and socio-political sphere.

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Latest

Feed back: Fleecing Nigerians in the name of God

  /   in Broken Links 12:34 am   /   Comments

tourism

The title of this column last week was Fleecing Nigerians in the name of God. It generated a lot of reactions and comments. Here are some of the views of readers on the issue.

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Latest

Fleecing Nigerians in the name of God

  /   in Broken Links 1:23 am   /   Comments

tourism

By Omoh Gabriel When the white man came to Africa to preach and spread the gospel, he was altruistic, truthful and selfless. He rendered selfless service to humanity. He left the comfort of Europe and risked his life in a land seen then as a dark continent full of evil spirits and peopled by beings

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Tough times ahead for Nigerian bank investors

  /   in Broken Links 12:52 am   /   Comments

BANK

 By OMOH GABRIEL Signals emerging from the global economy can best be described as complex considering the trends in macroeconomic and socio-political sphere. As of now, the international financial market has not fully recovered from the 2008 financial crisis. Economies are still weighed down by the aftermath of the crisis. The global oil market on

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Two Governors & U.S. Justice

  /   in Broken Links, Dispatches from America 2:06 am   /   Comments

*Obama

NEWS about the activities of the Islamic State in Iraq and Syria, ISIS, and the International coalition that was formed to deal with the menace of the jihadist group, almost drowned all other notable items on the stable of the U.S. media. Two of those prominent events in the news that occurred as ISIS took

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David Mark, no to state creation; it’s not economical

  /   in Broken Links 12:40 am   /   Comments

Senate President David Mark

On June 27, 2011, we stated that creating additional state is not economical because it will increase the cost of governance in the country without any increase in the revenue base of the nation.

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Latest

Nigeria needs help from within and outside

  /   in Broken Links 9:29 am   /   Comments

economy

On April 28 we published this article in which I said that Nigeria needs help from within and from outside the country. Event of the last three weeks has shown that help from outside to contain the monster called Boko Haram is imperative.

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Latest

Living in self-delusion: Who controls Africa’s economy— Nigeria or South Africa?

  /   in Broken Links 12:56 am   /   Comments

Okonjo-Iweala

When in 2004 President Olusegun Obasanjo muted the idea of a state- backed Nigerian company that can compete favourably with multinational companies, Nigerians partially bought into the idea.

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Latest

Nigeria climbing another debt cliff

  /   in Broken Links 12:43 am   /   Comments

naira-Dollar

Nigeria is again on the path towards a debt trap set as usual by its quest and taste for nice things. The country is accumulating debt without any visible alternative of paying back the loans apart from oil.

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Latest

Treasury looters, let NITEL go

  /   in Broken Links 12:15 am   /   Comments

Nitel-412

Government agencies in Nigeria and the officials that run them either have short memories or they are simply indifferent to the feelings of Nigerians.

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Latest

Do not let them fool you again with statistics

  /   in Broken Links 12:35 am   /   Comments

economy

Statistics are very easy ways of presenting complex issues. They can present a graphic situation and possibly make it easy for people to have a snapshot of any given situation. For ease of presentation, statisticians, accountants and economists use data to explain the financial situation of a company, country and region.

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Latest

Reconcile, publish government account regularly

  /   in Broken Links 12:29 am   /   Comments

Nigeria-map

Nigeriais a nation where everybody is an expert. Experts in football coaching, experts in financial matters and economy, just name it.

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