Handholding Africa to sustainable prosperity

Regardless of the challenges, most African countries are making substantial progress in virtually all indicators of prosperity. Seychelles, a tiny island in the Indian Ocean, has been an excellent example with its very high human development index of 0.801. It is nevertheless the only African country among the sixty-two countries that are in that index […]

Naira’s devaluation journey

The tragedy of the Naira is that it has a single source of strength and many pulldowns. Its energy hails from the foreign exchange earnings from crude oil exports. 95% of the foreign exchange that enables us to make purchases overseas relatively conveniently are from this source alone. Other sources of foreign exchange such as […]

Of government prioritisation of Dangote Refinery

Although we have four petroleum refining facilities and issued licences for the construction of additional twenty-five, we import refined petroleum products like every other non-oil-producing country in the world. In 2018, the federal government spent N2.9 trillion on the importation of petrol only. It was a 50% increase over the 2017 petroleum import spending of […]

Now that Nigeria’s economic diversification is hot on the table

Although shaken by the tempest of the sinking oil prices, we still possess vastly untapped natural re-sources. That abundant natural heritage reassures the confidence we have that we can navigate out of the morass of depleting oil prices. Our favourable climate and fertile land support plentiful agri-cultural harvests as well as animal grazing. The northern […]

2020 Oil Price Shock and the Nigerian Bank Performance

Numerous hiccups dotted the traditional financing model of Nigeria’s upstream oil sector and invariably made way for alternative options. Domestic bank funding was one of those financing options. Before that, joint venture, production sharing contracts, and service contracts were the dominant vehicles for financing upstream oil sector projects. However, persistent delays and defaults by the […]

How powerful was Abba Kyari?

Unarguably, the late Abba Kyari was powerful. And he remained so even to the point of his burial. As we already know, those who are powerful are those who not only control people and structures but to a considerable extent, influence the eventual outcomes of target goals. The higher such people are in the command […]

Covid19’s mutation to ‘hunger virus.’

It is challenging to placate a man deprived of the necessities of life. That is the root of the famous saying that “a hungry man is an angry man”. We are already seeing that happening as more people who are experiencing hunger due to the lockdown of the socio-economic life are beginning to respond as […]

Corporate responses to COVID – 19 lockdown

Most residents of the three Nigerian states of Lagos, Ogun and Abuja currently on socio-economic lockdown are already fatigued. With obviously low levels of savings, many are already existing on the margins of survival and may not yield to prolonged activity lockdown. Worse still, both the federal and state governments have also substantially failed to […]

The wonderful benefits of coronavirus

There are two famous sayings that we need to invoke to appreciate the many right sides of coronavirus outbreak rather than the gloomy and fear-exciting pictures painted across the media. The first is that ‘things are never as bad as they seem,’ while the second is that ‘sometimes you have to lose what you have […]

Revving Nigeria’s innovation capabilities

Several pieces of evidence attribute 70% of the high standard of living of the developed world to its successes in technological innovation. Other important factors such as minimal levels of antimarket policies, elevated levels of the rule of law, as well as the effective provision of public goods, explain the rest of the 30%. The […]