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Sobowale On Business

Economic devastation of Apapa wharf by governments — 1

When Alhaji Aliko Dangote announced a few weeks ago that Nigeria is losing about N30 billion a day to the lock down of Apapa Wharf, my reaction was one of disbelief. I thought that Africa’s largest investor was exaggerating for a purpose undisclosed.

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Open letter to the president of Nigeria — who ever he is

THE four paged advertisement was not signed by anybody or Ministry or the Presidency. The shameless purveyors of a great deal of the half-truths and outright falsehoods in the narrative could not summon the courage to claim responsibility for it. But, given my close study of this particular government, it bears all the finger prints of two people – the first is a Federal Minister; the second is a Senior Special Adviser to a very, very, very top official of Buhari’s government. The last time the President or Head of State of Nigeria was served by such individuals who have no regard for truth was during the Abacha regime. That horrible government had a Senior Special Adviser, Wada Nas, who was nicknamed by me as Wada Nasty. It also had a Minister of Information, who could not distinguish between lai and falsehood.

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State of the Nigerian economy at half-way mark – 5

TODAY is June 4, 2017 and a national newspaper announced that the Presidency does not intend to reject the 2017 Budget without telling the people of Nigeria when it will be signed. On the day the National Assembly, NASS, approved N7.441trn, the Deputy Senate President made a self-evident truth that passing the appropriation bill is one of the most important functions of the legislature. He might have added that it is also one of the most important jobs of the Executive branch.

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The Nigerian economy May 2015-2017: A catalogue of failures (1)

WE have such a leader in Nigeria today in President Buhari. Some who voted and canvassed for votes for him were aware of the fact that the man was last in Government in 1985. That was thirty years before he remounted the saddle in 2015. Again some were aware that Harold Wilson, British Prime Minister had warned that “A week in politics is a long time”. (VANGUARD BOOK OF QUOTATIONS, VBQ p 271).

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State of the nigerian economy at half-way mark

ON May 29, 2017, the Buhari administration will be two years old; that means it would have reached the half-way mark of its four-year tenure. Nigerians should, right now, disregard those crack-pots talking about second term. The focus should be on mid-term assessment. Plainly asked it comes down to: What has been achieved in the two years under Buhari? Put another way: “Are we better off now than in 2015?

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The $289m special vote for nia was economic sabotage

FOR any economist worthy of the name it must have appeared like fiction or fairy tales. Who would have thought that a President of any nation, even a Banana Republic, said to be a Ph.D holder would in one day sign off N289 million to a security outfit without authority from the National Assembly, NASS, and have the funds withdrawn illegally from a government agency? Saul Bellow has pointed to how power destroys the sanity of most people. But, power allied with stupidity amounts to a double curse on the people led by such individuals. As German philosopher Frederick Von Schiller, 1759-1805 (VBQ p 235) has advised us “Against stupidity [of the leaders] the gods themselves struggle in vain.”

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The CBN is winning but pessimists still complain

THOMAS Hardy, 1840-1928, great British writer, once said that “a pessimist is the person who looks at the worst possible contingencies.” (VANGUARD BOOK OF QUOTATIONS, VBQ, p 186). No Federal Government official has been plagued by more pessimists in the last two years, but especially since January this year, than Mr Emefiele, the Governor of Central Bank of Nigeria.

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