DRUCKER, the management guru of those of us enrolled in MBA programmes in the USA in the 1970s and early 1980s left many deep insights for students of Management Studies worldwide. It was almost a crime to be enrolled for MBA and be seen around Harvard Square or Boston Garden without a copy of one of his books tucked under your arm.
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Sobowale On Business
Why we need Emefiele now more than ever
THAT was in the first paragraph of a report titled “Nigeria’s crude oil sales slow as competition grows”. Asu went on to quote one of the largest stakeholders in global crude sales, S&P Global Platts saying “Buyers have pulled back quite a bit and we may be in for a bit of a waiting game on the Nigerian front.”
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Extending godwin Emefiele’s tenure is vital for economic recovery
Unlike the great French philosopher, I strongly believe that truth must be shown with equal candour to all generations. There should be no dichotomy in placing facts before the public – especially for those privileged to be in the media. It has always been our sacred duty to inform, educate and entertain (also sometimes infuriate) the public on every matter of great importance. In about thirty years on these pages, that has been the principle. It will never change. Right now there is an issue which has suddenly crept on all of us while the election campaigns were going on. None of the two major candidates mentioned it; and it is doubtful if any of the fringe political parties candidates alluded to it. That is strange.
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Will the budget become hostage to hostile politics?
The report went on to disclose that Nigeria, which produced 1.792 million barrels per day in January, went down to 1.685 million in February in compliance with the agreement by members of the Organisation of Petroleum Exporting Countries, OPEC to reduce supply and raise crude prices. Unfortunately, OPEC and Nigeria are caught in a no-win situation. Each time they reduce production to push crude prices up, they make it more profitable for American shale oil producers to increase their own supply and grab more of the global market share. Already, the Us has overtaken Nigeria as a supplier of crude to the United Kingdom. Our cutback will certainly open more of that market to the Yankees.
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Nigeria’s economic death toll rises predictably
Those living in extreme poverty anywhere in the world constitute the living dead. Nigerians caught in the poverty trap exist in a hell on earth of their own. There are safety nets in some countries, regular subventions of resources to help the destitute cushion the impact of poverty. Not Nigeria; here, the poor are on their own. Instead of helping them government uses them as smoke screen to fleece the country through fraudulent Social Intervention Programmes, SIPs, and “Tradermoni” given to “party stalwarts”. Despite all the attempts by the Buhari administration to bury the truth, it just keeps popping up all the time.
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Minimum wage and ASUU wars lost once again
JAMES Macpherson was the father of Sir John Macpherson, a former governor-general of Nigeria, who handed the baton of office to Sir James Robertson who was our last British ruler before independence. He noticed how many times his Scottish brethren went to war against the English and have ended up defeated.
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Nigerian economy after the elections of 2019
IT is not just in politics that seven days can become a long time. Even in national economies, seven days can alter the fate of a nation for a long time to come. Most oil-producing nations of the world experienced the most rapid surge, in percentage terms within the first week after the Yom Kippur War between Arab countries and Israel in 1973. Suddenly, crude oil which fetched thirty cents a barrel skyrocketed to $3 (1000%), $4 (1333%) and $5 (1667%) on account of drastic supply reduction imposed by the Arab countries. Nigeria earned more oil revenue in a week than the aggregate revenue of oil and non-oil exports in the previous year. So sudden was the bonanza Gowon’s government did not know what to do with it. What they eventually did is still affecting our economy till today.
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As Dangote goes so does the Nigerian economy
FOR almost twenty years General Motors, GM, was the largest company, not only in America, but in the entire world. GM sat on top of the Fortune 500 companies for so long during which there was “no vacancy” at the top. All the other contestants were vying only for second place. Today GM is no longer the company presidents fear to offend. Others have taken the coveted top spot.
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Predictable famine and deepening poverty in 2019
News of Mayetti Allah’s support for their Life Patron, President Buhari falls into the “dog bites man category”. It would have been startling news if the herdsmen fail to approve of the only President who ever allowed them to kill, rape and commit arson with impunity. In the process, they sent over four thousand of fellow Nigerians, mostly farmers to the grave.
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NNPC refineries as metaphor for all that is wrong with Nigeria
THE story published in a national newspaper on December 30, 2018 elaborated by pointing out that “The Federal Government-owned refineries lost N96.34bn in the first nine months of this year compared to N95.09bn in the whole of 2017.” Certainly, unless things have changed in the last quarter of 2018, the refineries alone would have thrown about N132bn down the drain by the time you are reading this article.
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