Don’t be fooled, states are not richer
By Dele Sobowale Most Nigerians are being fooled right now, as they often are, by the Federal Government; with regard to the monthly allocations to states. Unfortunately, because the hands of many of the State Governors are not clean, they are allowing the FG to blame them unjustly for overall poor performance. Granted, there are a […]
FG, private refineries in mutual self-deception
By Dele Sobowale “The most obstinate illusions are ultimately broken by facts” – Trevor-Roper, 1914-2003 When Dangote Refinery, two weeks ago, announced that it would no longer sell fuel to marketers in naira; and, the Nigerian National Petroleum Corporation Limited, NNPCL, simultaneously pronounced the end of naira-for-crude arrangement, it was clear to some of us […]
CBN monetary policies working but…
By Dele Sobowale “It never rains roses; if you want more roses, you have to plant more roses.” George Elliot, 1819-1880. After several months of trial and error, the Central Bank of Nigeria, CBN, is finally on the right track. Exchange rate is stabilising; the gap between official and parallel market rates has been closed. For […]
Time for Nigeria to live without Aids
By Dele Sobowale “Ditch foreign aid or remain trapped”. Dr Ngozi Okonjo-Iweala, February 2025. The call to African states in general and Nigeria in particular, to stop relying on foreign aids could not have come at a more appropriate time. The return of Donald Trump as President of America can be likened to two natural disasters which […]
Why AMCON has become a problem
By Dele Sobowale “An institution is the lengthened shadow of one man”- Emerson, 1803-1882, VANGUARD BOOK OF QUOTATIONS, VBQ p 105 “Every great enterprise starts off with enthusiasm for an exalted aim; and ends up bogged down in petty politics” – Charles Peguy, 1873-1914, VBQ p 49 The Assets Management Corporation of Nigeria, AMCON, is one of […]
The World Bank and Nigeria inseparable
By Dele Sobowale “We discouraged (the government) from borrowing and the Nigerian desk and the World Bank suffered the consequences. “If you check, you would see that if the World Bank country director does not lend, it is either he is demoted or removed. But, it is our responsibility to make sure that the lending […]
Economic disadvantages of private air strips
By Dele Sobowale “History does not repeat itself; man does.” Barbara Tuchman, Harvard University Historian. The Minister of Aviation, Festus Keyamo, is adamant that the licence given to a private organisation/individual will not be revoked. In that statement, the Minister betrays ignorance four ways, historical, social, security and economic – as will be shortly explained. But, […]
Cash crunch: The way out
By Dele Sobowale Report, December 14, 2024. “Stop this cash crunch.” Daily Trust Editorial, December 16, 2024. “Recurrent cash scarcity is unacceptable.” PUNCH, December 16, 2024 “OPS fears SMEs’ collapse as cash scarcity lingers,” PUNCH same day. Cash crunch: The way out In the past one week alone, virtually every paper in Nigeria has joined the national […]
LAFARGE, UNILEVER AND THE RUSH TO EXIT
By Dele Sobowale “Nigeria is no longer a potentially big market for multinationals. It is now increasingly regarded as a poor and declining economy.” Nigerian businessman who recently returned from Europe. Lafarge, formerly West African Portland Cement, is one of the latest companies in Nigeria, whose core investors have thrown in the towel, after P&G […]
How refineries worked under Babangida
By Dele Sobowale “Liars ought to have good memories”. Algernon Sidney, 1622-1683 VANGUARD BOOK OF QUOTATIONS, VBQ p 127. Read online. Right now, the nation, and indeed the entire world, is still confused regarding the situation with the two Port Harcourt refineries. Suddenly, in the last ten days of November, the Nigerian National Petroleum Company Limited, NNPCL, announced […]
AGF, IGP, please call DISCOs to order; avert violence
“FCCPC warns Ikeja, Eko Discos to halt metre replacement amid compliance concerns — Report, November 14, 2024. The story went on to say that “The Federal Competition and Consumer Protection Commission (FCCPC) has issued a stern warning to Ikeja and Eko Electricity Distribution Companies (Discos) against plans to replace metres”. The FCCPC under Mr Tunji Bello […]
