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Rational Perspectives

The oppressive folly of fuel subsidy

PETROLEUM product Marketers and Depot Owners Associations, gave the government, a seven day ultimatum last week, to redeem their long overdue balance for over N800bn for fuel, already sold at Government regulated price of N145/litre. 

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Where is budget 2019?

NiIGERIA’s fiscal year has remained between January-December, since Independence in 1960, and, indeed, senior citizens may recall the ritual of budget speeches, by the Prime Minister or later President, on New Year’s Eve or shortly before December 31, while the nitty-gritty or specific details of each year’s budget would be revealed, usually, soon after, by the respective Finance Minister, who would capture changes in tariffs, taxes and other government economic policies that would be adopted for each year.

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Naira

Money, money everywhere and yet more debt!!

THE IMF Country Chief, Amine Mati, who spoke at the presentation of the Regional Outlook for Sub-Saharan Africa, in Abuja, last Thursday (November 8, 2018), was clearly concerned that, despite Nigeria’s very modest projected growth rate of about 1.9 per cent for 2018, and debt to GDP ratio between 20-25 per cent, unfortunately, however, Nigeria already also allocates more than 50 per cent of its revenue to debt service annually.

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Should my daughter call her dad’s new love ‘mummy’?

Since we split early in the year, my ex and I shared custody of our four-year-old daughter. This has worked out well, but she has started refering to her dad’s new girlfriend as ‘mummy’. I don’t have anything against the woman, but my daughter has only known her for a couple of months. The worst part is that I’ve never seen them correcting her. I want to stop taking her there for a while. I know it’s wrong, but I’m her only mummy.

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Skye Bank

SKYE BANK: Lucky depositors, disgruntled investors and beguile public

THE business license of erstwhile Skye Bank Plc was summarily revoked last month (September 2018) by Godwin Emefiele, the CBN Governor. The revocation came about two years after the financial regulator sacked the management in July 2016; the action followed the bank’s inability to meet the mandatory minimum key liquidity and capital adequacy ratios, which failure resulted in “the bank’s permanent presence at the CBN lending window.”

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Nigeria Independence Day

Collegiate presidency and national harmony

THE above title was first published in June 2006 and has been repeated annually, since then, on the Anniversaries of Democracy and Independence Day. However, its content has become increasingly relevant this year. Hopefully, this article will again serve as a wake-up call to abort the dire inevitable consequences which will clearly jeopardize our relationship as a nation, and forestall the inevitable frustration of the hope of our people for a better life. I wish you Happy 2018 Independence Day! Please read on.

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Nigerian

14 Nigerian banks to enjoy $7bn reserve

The Chairman of the Special Presidential Panel for Recovery of Public Property, Mr. Okoi Obono-Obla, recently, (Sept. 7th 2018), noted in a NAN report in Abuja, that the Agency is continuing its investigations to “recover monies that have been taken away from the people of Nigeria.” One of such ‘loot’, according to the Chairman  is the “almost $7bn bailout fund that the Central Bank of Nigeria (CBN) granted 14 commercial banks between 2006-2008. Obono-Obla also confirmed that “after 13 years, these banks have not returned the money to government’s treasury.” Curiously, however, according to Obono-Obla “when we enquired from CBN, the state of that money, the banks told us that the money was ‘dashed’ to them.”

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