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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.
Continue reading As Dangote goes so does the Nigerian economy at Vanguard News Nigeria. …

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.
Continue reading Predictable famine and deepening poverty in 2019 at Vanguard News Nigeria. …

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.
Continue reading NNPC refineries as metaphor for all that is wrong with Nigeria at Vanguard News Nigeria. …

What to expect from the 2019 budget

‘I Washed Dead Bodies To Survive As A Student Abroad’ – Ajimobi

TWO  wrongs never make a right – whether in politics or in private relationships. President Muhammadu Buhari of Nigeria placed the 2019 Budget before the National Assembly, NASS, in late December, approximately three months behind schedule and then had the gall to ask the lawmakers to pass the budget in the national interest. That is bad leadership. A good leader builds with both hands; a bad leader who gives good advice but provides bad example builds with one hand and destroys with the other. When it comes to annual budgets, Buhari has spent the last three and a half years constructing with one hand and demolishing the edifice with the other.
Continue reading What to expect from the 2019 budget at Vanguard News Nigeria. …

Budget 2019 dead before arrival

Good day Uncle Dele. This is the first week of December. The 2019 Budget is yet to get to the NASS. They would soon proceed on Xmas holidays. It’s not even known when it would be presented! 2019 is election year. Most of them would be involved. Who are the policy makers of this administration? What is in their brains? Saw dust? When and how did we offend them? Is this still being caused by GEJ and PDP? Who did we offend in this country Uncle?”
Continue reading Budget 2019 dead before arrival at Vanguard News Nigeria. …

Two versions of salad bowl of illusions on offer as economic policies

THE two presidential candidates wasted no time releasing their proposals for governance once the Independent National Electoral Commission, INEC, flagged off the campaigns for the 2019 elections. Both documents were packed full with the multitude of promises for which elections worldwide are known. Most of them will be addressed as we proceed with the campaigns. On this page, however, only the economic policies and their impact on society will be discussed.
Continue reading Two versions of salad bowl of illusions on offer as economic policies at Vanguard News Nigeria. …

Forget 2018 budget it was a waste of time anyway

11 Killed, 17 Missing in Mass Evictions By Lagos Govt – Amnesty

BUT the truth is that we  are generally having the wrong discussion. I personally don’t think we have a debt problem, but we have a serious revenue problem, which, if we do not address, will snowball into a debt problem.” Ben Akabueze, Director of Budget in the Ministry of Budget and National Planning. October 24. 2018.
Continue reading Forget 2018 budget it was a waste of time anyway at Vanguard News Nigeria. …

Danger ahead as economy is now on auto pilot

THAT the people perish for  lack of good leadership has been one of the abiding verdicts of history. The Nigerian situation today is proving Horace right. In the last three months, I have found myself in several states, east, north, south and west – Sokoto, Kebbi, Zamfara, Kogi, Abia, Akwa Ibom, Kaduna, Niger, Edo,Imo, Kwara, Oyo, Ogun, and of course, Lagos. There is a common thread linking all of us in this country today, irrespective of the government and the political party in power – a sense of despair about the economy. We needed no Brookings Institute or World Poverty Watch or the British Prime Minister or Bill Gates Foundation to tell us that our dear fatherland has not only become the largest hatchery of people living in abject poverty, the situation is getting worse every minute. We have thousands of economists to do that for us
Continue reading Danger ahead as economy is now on auto pilot at Vanguard News. …

You lost your shirt get ready to lose your trousers

INEC fixes dates for Ekiti, Osun governorship elections

A LITTLE more than two months ago, the alarm was sounded on these pages about the imminent crash of the capital market. After rising for a few days following that forecast it has been one long decline occasionally broken by one or two days of gains which were inevitably succeeded by several more days of losses wiping out the gains. On the whole close to 16 per cent has been erased from share prices since that first prediction.
Continue reading You lost your shirt get ready to lose your trousers at Vanguard News. …

Buharinomics leading Nigeria into another debt trap

Fresh controversy rocks Cabotage Vessel Fund

The first thing which must shock most Nigerians, though not most people in advanced countries, is the fact that Nigeria lacks a comprehensive and coordinated economic policy. The reason for that is clear. Nobody at the top levels of government is an economist. Buhari is not, neither is Osinbajo — the Chairman of the Economic Management Team. Talk about putting a round peg in a square hole or vice versa and the Vice President of Nigeria should be a perfect example of that syndrome.
Continue reading Buharinomics leading Nigeria into another debt trap at Vanguard News. …

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