The Nigerian economy is faced with several challenges after 57 years of political independence. One of the challenges for the leadership, policy-makers and other stakeholders is on how best to fast-track development to reduce poverty and enhance the standard of living of most of the citizens. Recent data show that the poverty incidence has been…
Nigerian Economy And Its 2017 Outlook (PART II)
[ctt_author author=”12175″ name=”AKPAN H. EKPO” template=”1″ link=”0tNZU” via=”no” ]The economy would recover from the recession by the 3rd quarter of 2017 if 80-85 per cent of the projects in the budget is implemented[/ctt_author] According to the government, the 2017 Budget is designed to partner with the private sector to ensure the growth of the…
What to Do About Recession in Nigeria
Economists postulate that once an economy exhibits two consecutive quarters of negative growth, such an economy is technically in a recession. The negative growth of the economy implies output loss, hence jobs are lost with adverse implications. However, an economy can register positive growth rates and yet perform below potential. The Nigerian economy, from 1999…
Nigeria And The Economics Of Devaluation
The persistent depreciation of the Naira to the United States dollar in particular and other foreign currencies like the British Pound, Euro etc. in general has generated debate among those interested in the Nigerian project. President Buhari’s opposition to devaluation stressing that he has no intention to ‘kill’ the Naira reactions in some quarters. There…
Challenge of Rebuilding Nigeria’s Economy (Part II)
The Buhari administration cannot, within four years, reverse the structure of the economy that has failed, since 1960, to provide the basic amenities of life to some 90 per cent of Nigerians. But his administration can lay a solid foundation for a better Nigeria. In 1960 and in the years before the incursion of the…
Challenge of Rebuilding Nigeria’s Economy (Part 1)
A debate is ongoing concerning the state of the Nigerian economy. This has been intensified since the All Progressive Congress, APC, came to power on the mantra of change. The presidency has also made pronouncements alluding to the fact that the Nigerian economy has never performed so badly in recent times. More recently, President Muhammadu…
A Toast to Angus Deaton, Nobel’s New King of Anti-Poverty Economics
The Nobel Prize in Economics was instituted in 1968 by the Swedish central bank in memory of Alfred Nobel. It was not part of the original Nobel prizes in Physics, Chemistry and other natural sciences established in 1895. Many economists, with varying tendencies, have won the Nobel Prize in Economics, ranging from monetarists like Milton…
Bad News From Nigeria’s Private Sector
Economic agents in any economy broadly consist of the government, private sector, households and their families. In market or near-market economies, this sector is perceived as the engine of growth. It is more often the vibrant sector that combines all the factors of production to produce goods and services needed by an economy for sustenance…
The Economy and the Bogey of 100 Days
The convention of examining a new government after 100 days in office seems not only disturbing but also misleading. While many, if not all, politicians aspiring for office promise goodies to the people within 100 days, if elected, one should not lift the issue to undue prominence. Governance is a continuous process; hence…
A 21-Gun Salute for Our Uncommon Economy
A look at Nigeria’s economy shows it as one that is not only complicated and complex but also interesting in several ways. Once a word and /or phrase enters Nigeria’s lexicon, it is teased, abused and its usage becomes blurred. I am referring to the word “uncommon”. According to the Oxford Advanced Learner’s Dictionary, “uncommon”…
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