Tough times ahead in post 2015 elections
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 fallen to as low as $58 per barrel.
CBN, no to exemptions and upward review of cash limit
Just when Nigerians were beginning to embrace the reality of cash-less Nigeria, the Central Bank threw yet another spanner in the wheel of progress of the entire policy. The Bankers’ Committee and the CBN had told Nigerians that from their research findings, about 10 per cent of those who own accounts in banks in the country withdraw more than N150, 000 at a time.
Zenith Bank’s result: Giving new hope to investors
Zenith Bank’s 2011 full year result has given hope to investors in the Nigerian capital market that all is not about negative news in the financials of banks in the country. The bank has declared a dividend of 95 kobo per share. This is modest compared to the past dividend payout by the bank.
Revised 2012-2014 revenue/ expenditure framework: Tough and harder times ahead
The Federal Government’s revised medium term revenue and expenditure strategy before the National Assembly does not appear to have any hope for the ordinary Nigerian. Rather, it is a routine of the usual. Emphasis in the document is still very much on high recurrent expenditure. Little is left for investment in projects that can grow the economy and create jobs.
Wipe your crocodile tears, Arewa and Northern Governors
Northern governors under the aegis of the Nigerian Northern Governors Forum last week unveiled the Northern agenda which is now being seen by discerning minds as the smoke screen for the activities of Boko Haram in recent time. It is fast becoming a trend that any section of the Nigerian society that needs to extract some favour from the federation does so by means of arms, violence or intimidation.
FATF blacklist: Failure of Nigeria’s banking reform and war against corruption
Nigeria is a country of several paradoxes; one of such is shadow-chasing while the real substance is left un-attended. The banking reform that has been on-going for a while was meant to strengthen the financial system and rid it of criminals and aleck bankers.
Is Nigeria in a poverty trap and population explosion?
Nigeria appears to be in what economists call a poverty trap, a vicious circle that takes hardwork and massive investment to break. The population is rising faster than the economy can cater for. It is thus breeding poverty and it is spreading like wild fire in the country.
Unemployment, a ticking time bomb
Occupy Nigeria, as the Lagos arm of the protest against fuel price increase was tagged, has come and gone. The memories of the mammoth crowd that gathered at the Gani Fawehimi Park in Ojota, lingers. The sheer number of people who were there was frightening…
Can Nigeria achieve a corrupt-free public service like Singapore?
The probe going on at the nation’s House of Representatives is both interesting and funny. Interesting in the sense that it is bringing out startling revelations about the massive corruption in the downstream sector of Nigeria’s oil and gas industry; funny for the fact that those presiding over the probe are themselves guilty of the same offence they are investigating.
Is petrol private or public good?
The current debate on the profligacy of public office holders, size and cost of governance in Nigeria is interesting and very healthy for the economy. The argument itself gives credence to the need to ensure that government performs only those duties that are of public interest. What should be the right size of government has been a long drawn debate.
The economic danger signals are here, let us act now!
Occupy Nigeria was a novel experience in Nigeria. It has come and gone but the memory will linger in the minds of Nigerians for a long time to come. It has opened the eyes of those governing and the governed to a lot. A clear message was passed to Nigeria leaders that it is no longer business as usual.
