As a demonstration of personal preference for cassava bread, the President is in order. And as the transient occupant of Aso Rock, he and Mrs Jonathan can eat whatever they choose. But, it is a grave error to mistake what is a personal preference for a sound national food policy. It is almost certain that cassava bread, as staple in the Presidency, will not outlast Jonathan himself.Read More
In one corner of Cross River State, raw rubber production, which should be at its highest during the rainy season, is dropping. Reason; a paramount chief in the area died recently and ten human heads are needed before he can be buried.Read More
Capital is a coward; it takes flight at the slightest indication of prevalent violence and destruction”. Anonymous.
The Vision 20:2020 project; at best a foolish stunt because it is not based on sound economics, had become increasingly another scam foisted on the Nigerian nation to siphon money into private pockets – especially those of its most ardent promoters in government.
That was the advice of thousands of parents to their sons at the beginning of the founding fathers of the “expatriates” who conquered the vast country which we now know as the United States of America. Then, as now, there were restraining hands, urging people not to go and exploit the opportunities which the new frontiers presented.Read More
“This is what the truth is. Going behind what you hear first. Asking a hundred questions until you make up your own mind on the basis of real evidence.” James A Michener in Hawai.Read More
James Michener was for years an editor before he became a writer of historical novels; he wrote over 20 books and he is one of my mentors – even in death. When in 1994, I first started writing general commentary, the first thing was to find out the cardinal principle of journalism and to apply it at all times to all situations and issues. It still boils down to finding the facts and not being swayed by popular opinions.Read More
Nigeria’s capital market is totally wrecked. It had been partially demolished by 2008, but there was still some hope. Now it is in ruins – thanks to the heads of the two institutions controlling it. The global community, and nations with honest capital markets, whose shares are heading for the basement, must be amused that in Nigeria those who are supposed to build the capital market – the NSE and SEC—are exactly the ones destroying what is left of it.Read More
“0803-301-9018 Sir Uduaghan has no clue about governance. He mouths a 3 point agenda which has gone nowhere for 5 years. His only agenda was and still to cover up thieving of our commonwealth by Ibori and their clan. Pls ask them how much they have spent on the airport so far.Read More
If anyone had asked Sanusi Lamido Sanusi three years ago his choice between becoming the Emir of Kano and the Governor of Central Bank; he would have chosen the former. But like Prince Charles of Britain, whose mother, Queen Elizabeth II, has reigned since 1952, and is still going strong, Lamido too must wait indefinitely to pursue his ultimate ambition – which does not include being remembered as a great banker. Banking was just something to do while waiting.Read More
This would be the third alert I would issue in the last fifteen years about a banking crisis about to occur. Almost invariably, the banking crisis causes collateral damage in the capital market – which heads down as a result. The recent appointment of market makers by the Nigerian Stock Exchange, NSE, might represent taking on fresh fuel before a ship capsizes. It will not help; it might even add to the problems that would result from the carnage.Read More
This was followed in a few days by heart-breaking report of the results of JAMB examinations. Together, they point to a bleak future, which follows inexorably on a dreadful present and a woeful past about the quality of secondary school leavers the nation had been producing for more than twenty years.Read More
To Marshall’s observation, another economist had added that anything that does not make economic sense [to most people concerned] has no chance of succeeding. The proposal by the Federal Road Safety Corps, FRSC, to issue new licence plates nationwide at, what most Nigerians consider, unreasonable fees, is a case study in how not to introduce change.Read More
The economist, like anyone else, must concern himself with the ultimate aims of man”. Alfred Marshall, 1842-1924. The father of classical economics. To Marshall’s observation, another economist had added that anything that does not make economic sense [to most people concerned] has no chance of succeeding.Read More
“Government targets 10m jobs by 2011.”THE GUARDIAN, May 13, 2008. President Yar’Adua, May 12, 2008, at the Inter-Ministerial Retreat on the Harmonisation of National Economic Empowerment and Development Strategy (NEEDS) 2008-2011, at the Banquet Hall of the Presidential Villa, Abuja.Read More
“Despite her potential for prosperity, Nigeria has been listed as one of the five countries where half of the world’s malnourished live.”Read More