Falling Oil Prices and our Dr. Pangloss
As with politicians the world over, the Goodluck Jonathan administration is wont to stretch its luck. What to make of the claim, for instance, that the “new, and bigger” Nigerian[…]
Category: Economy
Our Near-Open Society and Its Enemies
After the many traumas that was the Great Recession, considerable uncertainty remains over how to interpret current (political, social, and economic) events. There is clear evidence of an uptick in[…]
Poverty and Rising Food Prices
Should we be concerned that over the last six (6) months rising food prices have been the single most important cause of the upward movement in headline inflation numbers? The[…]
Economic Headwinds and Policy Responses
You do not have to be a close watcher of the Nigerian state to conclude that the short stretch of road ahead (until the next fork in February, next year)[…]
The Economics of the Planned Ban on the Consumption of “Ponmo”
A clear trend is emerging in the thinking around the best way to manage our economy. It is unashamedly mercantilist. In response to the question, “How do we accelerate domestic[…]
Should Alarm Bells Be Ringing For The Economy?
One of the more risible aspects of the recent re-basing of domestic economic output numbers was the attempt by pro-Jonathan administration types to pass the higher GDP numbers, which emerged,[…]
Leaders Worthy In Character and In Learning
Part of the mystique of the events leading up to and succeeding the annulled presidential elections held June 12 1993, was the unusual succession of moments of truth associated with[…]
Of Miracles And Miracle Compounds
The most recent outbreak of the Ebola haemorrhagic fever has had a most chilling effect. Unlike previous such outbreaks in isolated parts of Africa, where high case fatality rates and[…]
Who Is Afraid Of Low Interest Rates
In favour of “low” interest rates, there is basically only one argument. The interest rates regime (adjusted for associated risks, including, inflation) in any economy, indicate to potential investors how[…]
Monetary Policy in the New Abnormal
The Monetary Policy Committee (MPC) — the Central Bank of Nigeria’s (CBN) rate-setting committee — meets today (and tomorrow) under a new governor. Sanusi Lamido Sanusi, the former governor, had[…]