Awakening government entrepreneurship

The seeming absence of entrepreneurial consciousness among the governments of African countries considerably hinders their country’s prosperity. In Nigeria, for instance, only about four subnational governments are economically independent. The rest of the subnational governments depend on centrally distributed revenue allocations for survival. This inconvenient reality is avoidable in these governments internalizing the fact that […]

Rancorous drumbeats over Nile Dam (1)

Africa’s boundless treasure, Social development

Editor’s Note: Dr. Oyeleye is taking an emergency break from his running series, Time to activate Africa’s idle magnetic force, to address this urgent matter of the Nile Dam because of the immediacy of issues involved. He will return to conclude the series after this one.   GLOBAL FORECASTERS MUST BE COMMENDED for their foresight […]

On interstate travel ban and Motor Insurance

An insurance professional colleague, Anayo Nwosu, raised a very important issue on our professional insurance platform recently. He asked what will happen if the vehicles currently travelling interstate, in spite of the interstate ban on movement by the government, were to be involved in an accident? I thought I should escalate it so that the […]

Market failure in Africa

Africa is a continent bubbling with untapped potentials. The abundance of these untapped resources – human, natural economic – also points to the profundity of the underlying inefficiency in resource allocation. From the traditional laws on land which perpetuates subsistence farming and frustrates commercial agriculture, to the absence of motorable roads that will enable the […]

Time to activate Africa’s idle magnetic force (2)

Africa’s boundless treasure, Social development

AFRICAN SOIL HAS BEEN a testing ground for an assortment of policy ideas. From Marxist-Communist, to Capitalist, neoliberal or hybrids of any of the combinations, the continent has seen models and types of governments – some good, some bad – since the Kwame Nkrumah’s era, Nnamdi Azikiwe’s idealism, Jomo Kenyatta’s fantasies and the daydreams of […]

Time to activate Africa’s idle magnetic force (1)

Africa’s boundless treasure, Social development

The world inches towards 8 billion inhabitants in the next couple of years. The most recent United Nations’ current world population estimate of 7.8 billion people as of June 2020 lends credence to the imminence of that 8 billion mark. Of that current 7.8 billion, Africa alone – as a continent – takes 1.34 billion, […]

The government in the Prosperity Creation Ecosystem

Over human history, experiences have repeatedly shown that the market left alone cannot satisfactorily deliver as much prosperity relative to when propped by a government. That is particularly true when the government is both inclusive and effective. The Ibo ethnic group in south-east Nigeria was reputed not to have had a king or ruler before […]

The rains are here! Insurance can cut your losses

In virtually every part of Lagos, it rained continuously from last Wednesday morning to Thursday evening. I knew Lagosians were in trouble by Wednesday afternoon. I had gone to Maryland in Lagos. On my way back, portions of Ikorodu Road, especially between Maryland and Anthony, had become a river. It was impossible for saloon cars […]

Adesina’s AfDB trials: A proxy war?

Africa’s boundless treasure, Social development

SO MUCH FOR THE African Development Bank (AfDB) headquartered in Abidjan, Cote d’Ivoire. The multilateral development bank has been in the news in the past three months, not so much for its development interventions, but for the tussles at the leadership level, which reached a crescendo in the past three weeks. Allegations varying from the […]

Driving the performance of African businesses

In a GreenTec Capital Africa Foundation and WeeTracker Media report based on data between 2010 and 2018, the average failure rate of African start-ups is 54.20%. Ethiopia tops the league with a 75% failure rate. Behind Ethiopia are Rwanda, Ghana, Zimbabwe, the Democratic Republic of the Congo, Tanzania and Nigeria with failure rates of 75%, […]