"The logic goes like this; if oil share of Nigeria’s economy is 15% - why blaming oil for the recession?" Nigeria is officially in recession and when you ask the country’s policy makers: What is the cause of the recession? You may likely know the answer they will say even before I called them out on it. Without hesitation, they are quick to blame the falling oil price and … [Read more...] about Nigeria’s oil is 15% of GDP: Why blaming oil for the recession?
Mark Zuckerberg in Nigeria: Emeka Afigbo, Ime brought Zuckerberg to Nigeria
As Techpoint, a Nigerian tech blog, reported, more than fifteen managers and executives of Nigerian background work with and around Zuckerberg at the world’s largest social networking site, occupying a range of high-profile roles. Among the most prominent are Emeka Afigbo, who handles strategic product partnerships for Facebook in sub-Saharan Africa and Ime Archibong, … [Read more...] about Mark Zuckerberg in Nigeria: Emeka Afigbo, Ime brought Zuckerberg to Nigeria
Naira Floats: IMF prevails as pending doom looms
Here comes the big trouble, for with floating of naira comes massive devaluation, Hyperinflation and higher interest rate. Nigerian government has finally bowed to recommendation by masterly International Monetary Fund (IMF) to devalue naira by allowing the embittered currency to float. Nigerian government cannot be accused of dithering; the government held his own but … [Read more...] about Naira Floats: IMF prevails as pending doom looms
Peter Obi: The Rock of Political Triangulation and Studious Sagacity
Where many politicians have tried and failed, Peter Obi the former governor of Anambra State and the candidate for the senate has managed to succeed, if not triumphed. It will not be understatement to call Peter Obi one of the most successful Igbo politicians in the contemporary Nigeria’s disconcerted political topography. Obi as an astute politician understands the … [Read more...] about Peter Obi: The Rock of Political Triangulation and Studious Sagacity
CBN Interest rate at 12%: Erratic monetary policy and illiquidity
The Central Bank of Nigeria (CBN), the country’s supremely reserve bank has made a decision of hiking the interest rate from 11% to 12%. It was puzzling to many financial and monetary observers because it was less than three months that CBN reduced the interest rate from 13% to 11%. Then it appeared that the monetary policy was gearing towards enhancement of liquidity, but the … [Read more...] about CBN Interest rate at 12%: Erratic monetary policy and illiquidity