On Friday, 13th April 2012, the Nigerian mainstream and new media were awash with reports of Nigeria’s dwindling savings. In particular, the Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo Iweala raised alarm over the depletion of the Excess Crude Account (ECA) from $20 billion in 2006 to current levels of $3.6 billion. Ngozi thus confirmed what many analysts [...]Read more ›
Post Tagged with: "Ngozi Okonjo-Iweala"
ANNOUNCING A CALLOUS POLICY WITH IMPUNITY A liberalization move by the government to deregulate the downstream sector of the oil industy by removing subsidy on petrol was announced on Sunday 1st January, New Year’s Day just when Nigerians were reeling from the shock of deadly bomb attacks on Christmas day and a spate of sectarian killings in Ebonyi state, the [...]Read more ›
Ever since the Nigerian government officially announced a few months ago its plans of removing the subsidy on petroleum or premium motor spirit (PMS) by January 2012 , the debate for or against this policy has raged on and is only increasing in intensity by the day. Those for the policy, mostly from the camp of the Executive arm of government [...]Read more ›
This is a review of a few, selected, blog posts that discussed the Nigerian economy in the week that ended on March 14, 2009. Manasseh Egedegbe of the Stock Market blog at www.stockmarketnigeria.com says there is a silver lining in the Nigerian economy. In a post that he aptly titled A Silver Lining in the Nigerian Economy, he discusses the [...]Read more ›