IN May this year, Godwin Emefiele, the CBN Governor; formally, enthusiastically, confirmed the establishment of a currency deal between the Bank of China and its Nigeria counterpart; Emefiele, however also reported that the details and operational guidelines relating to the ¥15bn/N720bn swap would be announced later.

THE late Chief Moshood Kashimawo Abiola was the acclaimed, legitimate winner of the 1993 Presidential election, which was conducted, purportedly, to usher in a Democratic Administration after Ibrahim Babangida’s eight years in power, as Nigeria’s sole military President till date!

ON May 22 this year,  the International Monetary Fund’s, Resident Representative for Nigeria, Amine Mati, expressed concern over Nigeria’s capacity to sustain a debt burden which has, reportedly almost double from N12.12 trn in June 2015 to N21.75 trn by December 2017.

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

THE National Assembly on  May 16, enacted a federal budget of N9.12tn. The increase by N508bn on the N8.612tn budget, earlier presented to the legislature in November 2017, by President Mohammadu Buhari, was reportedly agreed with the Federal Executive, after crude oil benchmark was reviewed from $45 to $51/barrel, as export price steadily rose above $75/barrel.

THE Oranised Labour movement celebrated this year’s 2018 May-Day with the traditional processions and fiery speeches from Labour Leaders in various State Capitals, including Abuja.

CENTRAL Banks, the  world over, have responsibility for ensuring that a nation’s currency reserves are held in instruments, which would protect the value of income and savings.  Indeed, all CBN Governors have assured Nigerians of their recognition and awareness of this responsibility, but the actual spread of such holdings were never clearly defined, while the dollar remained the CBN’s choice currency”.

THE proceedings in the National Assembly, became rather agitated on  April 26, 2018, after President Buhari’s letter, which sought approval for the sum of $496m, which had been spent on 12 fighter jets, was read by Senate President, Bukola Saraki (APC) and Speaker, Yakubu Dogara (APC), to members in their respective Chambers.

THE above is the title of the lead paper presented at the 2nd Vanguard Economic Discourse, on Friday, April 13, 2018.

It is therefore, worrisome that, in 2012 subsidy payments may have exceeded the seemingly outrageous 2011 value of N2.09tn!

The Monetary Policy Committee is the ‘Think Tank’ for best practice strategies that should drive Nigeria’s economic growth and prosperity

There is probably no better known International public person who has visited Nigeria more frequently than Bill Gates in recent times

THE African Continental Free Trade Area (AfCFTA) agreement was endorsed on Wednesday 21stMarch 2018, by forty four African countries in Kigali Rwanda; nine other African Union member countries, including Nigeria and South Africa have delayed assent to the treaty.

The present payment model, invariably suggests, that increasing income from crude export may actually instigate GDP growth, in statistical terms

Nigeria’s income from crude oil export has lately been boosted, fortuitously, by the unexpected rise in crude oil prices, beyond the 2017 budget benchmark of $44.5/barrel. This favourable outcome which is evidently buoyed by OPEC’s strategic supply management, should ordinarily be a blessing to our economy. Indeed, such optimism on oil price may also be sustained by the International Energy Agency’s January 2018 Oil Market Report, which projects oil price to remain between $60-$70/barrel this year.