The Petroleum Industry Bill and the Quest for a New Nigeria
By Obadiah Mailafia LAST week, Thursday July 1, the Senate finally passed the long-awaited Petroleum Industry Bill, PIB. A milestone in the history of our legislative affairs. Too many interests had repeatedly scuttled it over the years. According to the auditing and advisory firm, KPMG, previous attempts in 2009, 2012 and 2018 failed “because of […]
Emmanuel Macron and the new France
The country needs a balanced and liberal leader who can reform the economy, rebuild the public sector and bring people together within the banner of renewal and hope
Should Central Banks be independent?
A FEW weeks ago, Minister of Finance, Kemi Adeosun, was in the news for strenuously pleading with the National Assembly to revoke the independence of our central bank as established under the CBN Act 2007. She is obviously among those who believe the apex bank has been arrogated too much powers for its own good.
Without delivery, we are doomed!
I HAVE been one of those who congratulated the current administration during the recent launching of new Economic Recovery and Growth Plan, ERGP, by President Muhammadu Buhari and his Economic Team.
Our path to recovery and growth
That the Nigerian economy has been in recession since last year is no longer news. In 2016, overall economic output regressed by a factor of -1.8 per cent, the worst since the height of our tragic civil war in 1968. External reserves dwindled to a dangerous $27 billion while exchange rate nosedived to N493 to the US dollar on the BDC market. Public debt has risen to an unprecedented high of 5 per cent of GDP even as inflation rose to a high of 18.9 per cent.
