Friday July 25th, 2014
Friday July 25th, 2014
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Coercive monopoly (3)

  /   in Broken Links 12:54 am   /   Comments

economy

This is the concluding part of the reaction on the need for a competition or anti-trust law in Nigeria. There were several reactions. But this was particularly interesting and I decided to let our readers have the benefit of knowing what is happening in some sectors of the Nigerian economy.

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COERCIVE MONOPOLY

  /   in Broken Links 12:17 am   /   Comments

economy

In this column two Mondays ago, we wrote on the need for a competition or anti-trust law in Nigeria. There were several reactions. But this was particularly interesting and I decided to let our readers have the benefit of knowing what is happening in some sectors of the Nigerian economy. By YUSUFU ABDULLAHI The responsibilty

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Where is trade financing in the Transformation Agenda, Mr. President?

  /   in Broken Links 12:45 am   /   Comments

economy

Nigeria is a country of ironies. Its officials make policy pronouncements they do not believe in. Most times, the action of government is the direct opposite of its policy statements. President Jonathan has stated time and time again that his focus is on the transformation of the Nigerian economy to becoming one of the 20th largest economies in the world come 2020.

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Nigeria needs competition/anti-trust law

  /   in Broken Links 12:40 am   /   Comments

economy

Nigerian businessmen do not cease to amaze me. Each time I see a typical Nigerian businessman, I see contempt for fair play and good business practice. Every one of them hates competition. They believe in zero-sum game, winner-takes-all.

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Re-organising Nigeria’s unorganised private sector

  /   in Broken Links 12:31 am   /   Comments

Small-Business222

By OMOH GABRIEL Two weeks ago, some 31 Nigerian company chief executives and business owners got together to form a council that will enable them jointly promote sustainable development across the country. This was the outcome of a round table discussion held in Lagos. Ordinarily, this would have been a welcome development. However, the claim

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Tough task ahead for Emefiele at CBN

  /   in Broken Links 12:45 am   /   Comments

Godwin Emefiele, Zenith MD

When on the 3rd of June, 2014 Mr. Godwin Emefiele formally assumes office as the CBN Governor, he will be confronted with several nagging issues which he needs to resolve fast if he is to succeed as CBN governor. Many of the issues are like landmines which require both native intelligence and God’s guidance to handle.

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Gains, losses of WEFA

  /   in Broken Links 12:43 am   /   Comments

WEFA—President Goodluck Jonathan (C) speaks, flanked by WEF founder Klaus Schwab (L) and Rwandan President Paul Kagame (R), during the World Economic Forum in Abuja, yesterday. Photo: AFP.

Nigeria has successfully hosted the World Economic Forum for Africa. The event has come and gone and the organisers and the Nigerian authorities are counting their gains and losses.

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Reactions to “When will the drum beats of revolution start in Nigeria?”

  /   in Broken Links 12:29 am   /   Comments

confab

Today we publish readers’ views on issues raised in this column. Several reactions came in by text messages and online; here are some of the reactions. Godwin111 wrote and said: “The drums of revolution can only be heed by a nation of brave and courageous people. Unfortunately, Nigeria is not one.” Gold Force said: “The

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Economic rent seekers hold down Nigeria’s progress

  /   in Broken Links 12:40 am   /   Comments

confab-delegates

When President Goodluck Jonathan agreed for Nigeria to hold a national dialogue on the way forward, many saw it as an avenue to put right what is wrong among the federating units.

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Nigeria needs help from within and outside

  /   in Broken Links 12:49 am   /   Comments

economy

Nigeria is a country blessed with intelligent people. It is a country where every man and woman likes to express himself or herself loud and clear.

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When will the drum beats of revolution start in Nigeria?

  /   in Broken Links 1:11 am   /   Comments

*Protesters in support of CP Mbu demonstrating on the Aba road in Port Harcourt, yesterday

When some of us were in secondary school, a grade one WAEC certificate will make you unacceptable for employment in a Nigerian bank and most companies in Nigeria.

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A nation without defined property rights will continue to be at war with itself

  /   in Broken Links 12:53 am   /   Comments

A Housing Estates in Lagos

The challenge facing Nigeria today is not being tackled at the roots. It seems the symptoms are what those in position of authority are chasing after. It is like chasing shadows.

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Revisiting rescued banks’ grant of waivers to billionaires: What redress is possible?

  /   in Broken Links 12:00 am   /   Comments

BANK

When in August 2009 Sanusi Lamido Sanusi intervened in five troubled banks in the country; many saw it as a rescue mission. But I saw it differently. I whole-heartedly supported Sanusi cleaning up the toxic assets in the industry. Beyond that, I disapproved of his taking over of some banks that were still liquid at the time of the intervention. Sanusi did not separate the individuals from the institutions.

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When will the drum beats of revolution start in Nigeria?

  /   in Broken Links 12:09 am   /   Comments

NIGERIA, Abuja : Job-seekers cover their nose and mouth for safety after security agents from the immigration services threw a cannister of tear gas to disperse the crowd in Abuja National Stadium, on March 15, 2014. At least seven people were killed and dozens injured in Nigeria's capital Abuja on March 15 after thousands of pannicked job-seekers stampeded during a government recruitment drive at the national stadium. AFP PHOTO

l

When some of us were in secondary school, a grade one WAEC certificate will make you unacceptable for employment in a Nigerian bank and most companies in Nigeria. The thinking then was that with grade one, the holder will in a matter of one year gain admission into the university. There was no need to waste resources training him.

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Who is afraid of National Economic Council meeting?

  /   in Broken Links 1:05 am   /   Comments

Nigeria-map

The decision of the Lagos State governor, Babatunde Fashola, to sue the Federal Government over what he described as illegal deduction of one per cent from statutory allocation to states in the federation, may not be a surprise to many Nigerians.

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Agric attracts $9bn investments — Adesina

  /   in Broken Links, News   /   Comments

Akinwumi Adesina

Nigeria’s agricultural sector attracted $9 billion investments from local and foreign business groups in the last two years.

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Sanusi should answer his query, while all MDAs must make full disclosure

  /   in Broken Links 12:46 am   /   Comments

Mallam Sanusi Lamido Sanusi

When President Umaru Yar’Adua (may his gentle soul rest in peace), nominated Sanusi Lamido Sanusi as the CBN governor- designate to the Senate, the Editor of Vanguard Media Limited, Mideno Bayagbon, asked me to put together a profile on the CBN governor designate for publication. I did a quick search on him on the internet.

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Reactions to: Time for Nigerians to ditch ethnic arithmetic, state of origin and federal character

  /   in Broken Links 12:47 am   /   Comments

Garden-’City Boy ‘ wrote: “Whoever posted this dumb comment must either be incurably disillusioned or be looking in from an observatory on some strange galaxy. He goes about it like another ‘awusa liar.’ “Nigerians will not be interested where the president or governor comes from” believing he may be taken seriously.

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Sanusi’s $49.8bn alarm and its implications

  /   in Broken Links, Business 12:45 am   /   Comments

CENTRAL Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi

When the governor of the Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, September 2013 wrote informing the president that the Nigerian National Petroleum Corporation (NNPC) had not remitted $49.8 billion of oil revenue to the Federation Account over a 19-month period, it was meant to be a wake up call for the government to act on what many Nigerians have come to believe is corruption personified.

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Who should be the next CBN governor?

  /   in Broken Links, Business 12:00 am   /   Comments

CbnLogo

In recent times, news and analysis of who becomes the next CBN governor has flooded the newsstand. Some of the analyses are informed while many others are just mere speculations and name-droppings. The appointment of a central bank governor in most parts of the world is both a political as well as economic decision.

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Time for Nigerians to ditch ethnic arithmetic, state of origin and federal character

  /   in Broken Links 12:00 am   /   Comments

Map of Nigeria

When in the late 70s, General Murtala Muhammed came on the Nigerian political scene, he created an unusual sensation. His words were laden with ‘immediate effect.’ He had a vision of what he thought Nigeria should be that it was not. As a military general, who participated in keeping Nigeria one, he was consumed with the passion of a united Nigeria. A Nigeria that is free from the encumbrance of North-South dichotomy. He wanted to see a Nigeria where there was justice and fair play to all, no matter where they came from.

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Why Africa’s financial integration is difficult

  /   in Broken Links 12:20 am   /   Comments

naira-Dollar

There have been talks of Africa’s financial integration for more than two decades, but there aren’t any concerted, credible and encouraging signs that Africa is nearing its goals and objective of financial integration apart from a few disjointed accounts from various analysts’ opinions on Africa’s regional financial integration achievements.

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MDAs must publish their accounts in IFRS

  /   in Broken Links 12:00 am   /   Comments

Sanusi

The current confusion in government accounting system is coming from the fact that ministries, departments and
agencies of federal and state governments do not publish their accounts. In a number of these institutions of government, annual accounts are not prepared not to talk of their being published.

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The Nigerian class war

  /   in Broken Links 12:51 am   /   Comments

obj-jona-faceoff

The ruling class in Nigeria has never failed to amuse me. Sometimes, they sound genuine. At other times, they just find it difficult to hide their true identity. They are self-centered and self-seeking. Whatever does not benefit them in the main is anti-Nigeria. They portray themselves while in office as lovers of Nigeria more than anyone else.

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Auto policy, going round in circle and moving nowhere

  /   in Broken Links 12:15 am   /   Comments

motor-auto

Nigeria, unfortunately, is a country that runs on vicious circles. What beats human imagination is the rate at which the nation’s leaders repeat the same mistakes of the past. It was amazing when the Minister of Trade, Investment and Industry, Dr. Olusegun Aganga, announced to the nation a new automobile policy. It sounded as if

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Why Africa’s financial integration is difficult

  /   in Broken Links 12:00 am   /   Comments

There have been talks of Africa’s financial integration for more than two decades, but there aren’t any concerted, credible and encouraging signs that Africa is nearing its goals and objective of financial integration apart from a few disjointed accounts from various analysts’ opinions on Africa’s regional financial integration achievements.

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Latest

Budget feud for the masses or self interest

  /   in Broken Links 12:00 am   /   Comments

senate-Jonathan

Budgets all over the world are basic estimates that guide either the individual, corporate organisations or nations on their spending pattern. Budget projects the revenue that are being expected and the expenditure that will be following the projected stream of incomes that are likely to be realised from revenue sources.

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SURE-P missing Funds: These men in government cannot be trusted

  /   in Broken Links 12:00 am   /   Comments

Corruption1

Governance in developed economies is a pact between the people and their government. The people willingly surrender their individual power to a few elected individuals who they believe will act in their best interest. So, governance around the world, in civilized societies, is a social contract the electorate entered with those elected that they give them the power of attorney to act on their behalf. In these other societies, one man, one vote is respected. The votes of individuals count.

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The abuse and misuse of waivers by government functionaries

  /   in Broken Links 12:06 am   /   Comments

Aviation Minister, Princes Stella Oduah taking the oath before presenting her position beforte the House Committee on aviation during the Public Hearing on the procurement of two BMW Bullet-Proof cars by the NCAA at the National Assembly, Abuja. Photo by Abayomi Adeshida

Nigerians, who have not been following trends in Nigeria’s social economic affairs, were stunned by the purchase of armoured cars for the Minister of Aviation and Managing Director of the Federal Airport Authority of Nigeria, FAAN, Mr. George Uriesi. Those who are aware of the capacity of the public servants to help themselves to the best of life at the expense of the majority are not moved by the current out cry. George Uriesi through the minister had pulled wool in the eyes of Nigerians by a grand design of what he called airport re-modeling. As the project took off and it appeared that some work was being done at the airports, the stage was set for the duo to carry out their grand plan of helping themselves with the best.

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Stealing has restrained government from collecting taxes

  /   in Broken Links 12:40 am   /   Comments

Crowd at the  Abubakar Gunmi Central Market in Kaduna State on June 24 after relaxation of 24hrs curfew engendered  by multiple bomb attacks which killed many in the state  Photo by Olu Ajayi.

One of the sessions at the just concluded IMF/World Bank Group Annual Meetings is how developing countries can raise their tax base in order to generate revenue for meaningful development of infrastructure. The panelist examined issues around tax evasion by corporate bodies, especially in extractive industry. They came to the conclusion that many companies in the extractive industry in Africa do not pay adequate tax. Also the tax base is weak and many citizens do not pay their taxes.

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What is the Nigerian dream, hope and future

  /   in Broken Links 8:31 pm   /   Comments

Jonathan and Okonjo-Iweala

This article was first published last November. As Nigerians prepare for a national dialogue the hopes and wishes of Nigerians is that the conferees come up with a Nigerian dream that give every Nigerian a sense of hope and inspire patriotism.

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Who should be at the national dialogue

  /   in Broken Links 12:03 am   /   Comments

National-Dialogue

President Goodluck Ebele Jonathan has yielded to the desire of many for a national dialogue.
Many who in the past fanned the embers of tribalism, nepotism and disunity in Nigeria have already prepared for a showdown at the national meeting. The meeting should essentially be how to remove the nation’s economy from the hands of politicians.

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