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Sobowale On Business

Budget 2019 dead before arrival

Good day Uncle Dele. This is the first week of December. The 2019 Budget is yet to get to the NASS. They would soon proceed on Xmas holidays. It’s not even known when it would be presented! 2019 is election year. Most of them would be involved. Who are the policy makers of this administration? What is in their brains? Saw dust? When and how did we offend them? Is this still being caused by GEJ and PDP? Who did we offend in this country Uncle?”

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Two versions of salad bowl of illusions on offer as economic policies

THE two presidential candidates wasted no time releasing their proposals for governance once the Independent National Electoral Commission, INEC, flagged off the campaigns for the 2019 elections. Both documents were packed full with the multitude of promises for which elections worldwide are known. Most of them will be addressed as we proceed with the campaigns. On this page, however, only the economic policies and their impact on society will be discussed.

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Two versions of salad bowl of illusions on offer as economic policies

THE two presidential candidates wasted no time releasing their proposals for governance once the Independent National Electoral Commission, INEC, flagged off the campaigns for the 2019 elections. Both documents were packed full with the multitude of promises for which elections worldwide are known. Most of them will be addressed as we proceed with the campaigns. On this page, however, only the economic policies and their impact on society will be discussed.

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Recession knocks at the door; fg ignores it.

In the early 1970s, long before I ever thought that I would become a columnist, one of my co-tenants was a writer for the BOSTON GLOBE – the largest selling paper in the Northeast states of America. He read Economics and I used to wonder how he could forecast economic changes long before they occurred. One day out of curiosity, I asked him how he did it. He then showed me a computer-based model which he uses for economic predictions. Fascinated, I asked him to teach me the method. He was too happy to oblige me. Since then, I have made refinements to the model he left with me. Now, I have my own.

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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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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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