18 Aug

The week ahead – Confirmation of common knowledge does not bring succour

An overwhelming number of Nigerians will accept a bribe when offered or pay a bribe when demanded, the first ever Nigerian Corruption Survey 2017 published by the National Bureau for Statistics (NBS) has revealed. The survey published on 16 June, showed only 5.3 percent of Nigerians will either refuse to pay a bribe when asked to or refuse to accept when a bribe is offered to them. The result of the survey which has now been published, revealed only 20 out of 100 people................   read more

11 Aug

The week ahead – Deal or no deal

Badly weighed down by the debilitating effect of Nigeria’s huge debts, the Federal Government Wednesday sought a way out, approving the issuance of dollar-backed Treasury bills even as it extended the maturity period from between 91 and 364 days to two and three years respectively. Throwing light on the shift from naira denomination of treasury bills to dollars, the finance minister, Kemi Adeosun said the council approved a memo restructuring the issuance of treasury................   read more

04 Aug

The week ahead – The quest for clarity and stability

A group of Nigerian banks has agreed on an extension to a $1.2 billion loan made to 9mobile, formerly known as Etisalat Nigeria, pending the mobile operator finding new investors, FCMB said on Tuesday. Nigerian regulators stepped in last month to save Etisalat Nigeria from collapse and to prevent lenders from placing the country’s fourth biggest telecoms group into receivership, prompting a board, management and name change. Etisalat Nigeria took out a $1.2 billion................   read more

02 Aug

Analysing the proposed amendments to the 1999 Constitution

The growing calls for restructuring in Nigeria, recent events, and the reactions they have spawned, have shown the Nigerian Constitution as an increasingly unworkable document. As a result, the National Assembly has commenced the process to amend the Constitution, and on Wednesday 26 July, and Thursday 27 July, the Senate and the House of Representatives voted on some of the proposed changes.

Thirty-three laws in the Constitution came up for review, and both houses................   read more

28 Jul

The week ahead – Of truths and dare

An attack on a Nigerian oil exploration team by Boko Haram militants killed at least 48 people, according to hospitals and military officials in Borno state. Those who died in the 25 July attack include 18 soldiers, 15 local vigilantes, five geologists from the University of Maiduguri, 4 drivers from the Nigerian National Petroleum Corporation and six others, Bloomberg reports citing unnamed sources. The exploration team was in a convoy of 11 vehicles with security................   read more

21 Jul

The week ahead – Activity does not always mean progress

The latest Consumer Price Index from the National Bureau of Statistics show that inflation dropped from 16.25 percent in May to 16.1 percent in June. “The CPI which measures inflation increased by 16.1 percent year on year in June 2017. This was 0.15 percentage points lower the rate recorded in May. Accordingly, this represents the fifth consecutive decline in the rate of inflation since January,” the report said. On a month-on-month basis, the headline index rose................   read more

14 Jul

The week ahead – There is life in this thing yet

President Muhammadu Buhari is recuperating fast and will return home shortly, his deputy said on 12 July after visiting the head of state in London where he has been on prolonged sick leave. Yemi Osinbajo’s brief and unannounced trip has revived speculation about Buhari’s health and whether he will be able to stand for re-election in 2019. The details of his illness have not been made public.”He is in very high spirits, he is recuperating very quickly................   read more

07 Jul

The week ahead – Doing new things

There was some mild political theatre on the floor of the Senate at the resumption of a three-week recess on July 4, when a point of order was raised, that Senate President, Bukola Saraki was Nigeria’s effective Acting President. Lawmakers in the upper house had received a letter from Acting President, Yemi Osinbajo, seeking the confirmation of Lanre Gbajabiamila, as the Director General of the National Lottery Regulatory Commission. Legislators were furious about................   read more

30 Jun

The week ahead – We need to see in order to detect stunted growth

Nigeria’s Excess Crude Account tied for the world’s most poorly governed sovereign wealth fund, according to a report by the Natural Resource Governance Institute released on Wednesday. The $2.4 billion account was ranked alongside the Qatar Investment Authority as the worst in terms of oversight and transparency in NRGI’s index of resource management. NRGI rated 11 sovereign wealth funds, managing least $1.5 trillion in total, as “failing”. “The government................   read more

23 Jun

The week ahead – There is a need to get tougher, but also to be sensible about it

The Department of State Services has warned groups including northern youths and the Niger Delta militants against hate speeches. The DSS, which stated this in a statement signed by its spokesperson, Mr. Tony Opuiyo, in Abuja on Sunday, said it had observed how some Nigerians had been preaching hate in the last few weeks. The DSS spokesperson described the trend as disturbing and warned those he called desperate and mischievous elements, to stop in their attempt to................   read more