18 Dec

The year ahead – What can Nigeria expect in 2016?

2016 is going to be a challenging year. The challenges can be surmounted with the right planning; openness, so that the people of Nigeria are prepared for those challenges; and political will, in order to steer the country through the trying times.

While the legal system is speedily reformed to ensure redress of the perceived massive looting and stealing of the past (President Jonathan led) government, the President Buhari led government should quickly quit the blame................   read more

18 Dec

The week ahead – Will they know it’s Christmas?

Following the fracas between the Nigerian Army and the Shi’ites in Zaria, Kaduna state, various stakeholders including the NLC, CAN, and the Sultanate of Sokoto have all called for a thorough probe and the setting up of a Judicial Panel of Inquiry. The clash led to a yet to be ascertained number of dead Shi’ites.

Meanwhile tragedy struck in the town of Mafa, Borno state, on Monday, as four female suicide bombers detonated vests, killing members of a youth................   read more

17 Dec

Daily Watch – Fine threatens to bankrupt MTN, Naira may soon find equilibrium

  • Two weeks to a deadline to pay a $3.9 billion fine imposed by the NCC on the MTN Group, there are concerns that the fine will bankrupt the company. The December 31 fine, which was imposed for a failure to switch off unregistered mobile-phone customers, was revised down from an original penalty of $5.2 billion. Analysts say that without an immediate equity injection, the cash payment required by the NCC implies that MTN Nigeria will be thrown into negative net-worth
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16 Dec

Closing Nigeria’s housing deficit – Can Fashola’s plan work?

Nigeria should have gone past the intense politicking and accompanying drama that is typical of governance in Nigeria. The next phase, which we should have entered into is that phase in which each minister sets out their agenda, policy direction and measurable goals for the next three and a half years that they hope to run their ministries.

The first minister to do so in a clear and concise manner, is none other than Babatunde Raji Fashola, the honourable minister................   read more

16 Dec

Daily Watch – ICT stakeholders worry about broadband plan, Nigeria records highest oil output drop in OPEC

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said that the Federal Government will begin a gradual withdrawal of fuel subsidy next year. Speaking before the Joint National Assembly Committee on Finance, Appropriation and National Planning on the consideration of the MTEF, Kachukwu said that the subsidy, put at over N1 trillion in 2015, was no longer sustainable. This decision to gradually remove................   read more

15 Dec

An Error Repeated? The Shi’a/Military Clashes

On Saturday December 12, 2015 Nigeria’s social media lit up with reports of violence in Zaria, Kaduna state. According to initial reports from print and electronic media, there was an assassination attempt against the Chief of Army Staff, Lt-Gen. Tukur Buratai whose convoy was in transit “to pay homage on the Emir of Zazzau and attend the Passing Out Parade of 73 Regular Recruits Intake of Depot Nigerian Army, Zaria.”

There are inconsistencies in the................   read more

15 Dec

Daily Watch – CBN tightens currency controls, Brent crude hits 7-year low

  • The CBN has asked bureaux de change to close all branches within 90 days. According to new guidelines, all bureaux de change are now licensed as unit institutions. As a result no Bureau De Change will have a branch office outside its registered office. The CBN also banned BDCs from business relationships with street traders in foreign currencies, saying that such relationships will be grounds for the revocation of a BDC?s licence.
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14 Dec

Daily Watch – NBS confirms real petrol prices, New power tariffs out this week

  • The CBN governor, Godwin Emefiele, has mandated commercial banks to lower their risk rating for SMEs or lose CRR refunds. Emefiele said that the CBN needed the support of the commercial banks to lower the risk acceptance level for SMEs, and warned that if they refused, the regulator would take the money the banks should have got through the CRR and lend it directly to the SMEs. The CRR is a portion of banks’ deposits kept with
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11 Dec

The week ahead – Media trials undermine the war on corruption

Former Minister of Finance, Ngozi Okonjo-Iweala, has confirmed that she approved the transfer of at least N61.4 billion ($300 million and £5.5 million) from funds recovered from former dictator, Sani Abacha, to the Office of the National Security Adviser, Sambo Dasuki. The transfers happened a few weeks to the general elections this year. Dasuki, a former governor of Sokoto State, Attahiru Bafarawa, and the founder of................   read more