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Sobowale On Business

Danger ahead as economy is now on auto pilot

THAT the people perish for  lack of good leadership has been one of the abiding verdicts of history. The Nigerian situation today is proving Horace right. In the last three months, I have found myself in several states, east, north, south and west – Sokoto, Kebbi, Zamfara, Kogi, Abia, Akwa Ibom, Kaduna, Niger, Edo,Imo, Kwara, Oyo, Ogun, and of course, Lagos. There is a common thread linking all of us in this country today, irrespective of the government and the political party in power – a sense of despair about the economy. We needed no Brookings Institute or World Poverty Watch or the British Prime Minister or Bill Gates Foundation to tell us that our dear fatherland has not only become the largest hatchery of people living in abject poverty, the situation is getting worse every minute. We have thousands of economists to do that for us. 

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Danger ahead as economy is now on auto pilot

THAT the people perish for  lack of good leadership has been one of the abiding verdicts of history. The Nigerian situation today is proving Horace right. In the last three months, I have found myself in several states, east, north, south and west – Sokoto, Kebbi, Zamfara, Kogi, Abia, Akwa Ibom, Kaduna, Niger, Edo,Imo, Kwara, Oyo, Ogun, and of course, Lagos. There is a common thread linking all of us in this country today, irrespective of the government and the political party in power – a sense of despair about the economy. We needed no Brookings Institute or World Poverty Watch or the British Prime Minister or Bill Gates Foundation to tell us that our dear fatherland has not only become the largest hatchery of people living in abject poverty, the situation is getting worse every minute. We have thousands of economists to do that for us

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You lost your shirt get ready to lose your trousers

A LITTLE more than two months ago, the alarm was sounded on these pages about the imminent crash of the capital market. After rising for a few days following that forecast it has been one long decline occasionally broken by one or two days of gains which were inevitably succeeded by several more days of losses wiping out the gains. On the whole close to 16 per cent has been erased from share prices since that first prediction.

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No contest in Buhari versus IBB Governments

Nobody expected Buhari to provide intellectual leadership as President. Even as one of his most ardent supporters in 2011 and 2015, it was clear to me that he was not equipped for that role. The emergence of Professor, SAN, Yemi Osinbajo as Vice President gave us hope that some mental rigour will be introduced into policy making and public pronouncements by top Buhari government officials. But “what does corrupting time not diminish..?” (Horace 65-8BC). Our formally erudite scholar in three years has chosen to descend to the level of his boss – who we know has only a disputed School Certificate to his credit.

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Nigeria Airways

Nigeria air(ways) as a metaphor for why Nigeria might never be first world nation

James Macpherson was the grandfather of Sir John Macpherson, a former Governor General of Nigeria and his observations about people going to war and failing each and every time is perhaps the most appropriate way to summarise the disastrous efforts made by Nigerian governments – Federal, States and Local Governments – to engage in businesses which are best left to the private sector.

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Buharinomics leading Nigeria into another debt trap

The first thing which must shock most Nigerians, though not most people in advanced countries, is the fact that Nigeria lacks a comprehensive and coordinated economic policy. The reason for that is clear. Nobody at the top levels of government is an economist. Buhari is not, neither is Osinbajo — the Chairman of the Economic Management Team. Talk about putting a round peg in a square hole or vice versa and the Vice President of Nigeria should be a perfect example of that syndrome.

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Osinbajo on a needless jamboree

THE report quoted the Vice President’s spokesman, Senior Special Assistant on Media and Publicity, Mr Laolu Akande, as saying that “the roadshow is designed to showcase the continued improvement in Nigeria’s business environment to entrepreneurs, investors in American cities.” If you believe that you will believe anything. The Vice President of Nigeria is embarking on a needless jamboree. The only beneficiaries will be those collecting estacodes to go on that trip. The improvements in Nigeria business environment are purely figments of the VP’s imagination given what global economic and financial experts have to say about economic management under Buhari.

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Osinbajo on a needless jamboree

THE report quoted the Vice President’s spokesman, Senior Special Assistant on Media and Publicity, Mr Laolu Akande, as saying that “the roadshow is designed to showcase the continued improvement in Nigeria’s business environment to entrepreneurs, investors in American cities.” If you believe that you will believe anything. The Vice President of Nigeria is embarking on a needless jamboree. The only beneficiaries will be those collecting estacodes to go on that trip. The improvements in Nigeria business environment are purely figments of the VP’s imagination given what global economic and financial experts have to say about economic management under Buhari.

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