26 May

Two years in, how has the Buhari government fared?

On May 29, 2017, the Buhari administration will have spent two years in charge of Nigeria, reaching the halfway mark in running with the mandate Nigerians collectively handed to them in the 2015 General Elections. Just as importantly, President Buhari’s party, the All Progressives Congress, would have spent two years with the majority of seats in the two chambers of Nigeria’s National Assembly, apart from being the ruling party in 24 of Nigeria’s 36 States.

In................   read more

26 May

The week ahead – It’s not pretty

The Nigerian military says it will investigate allegations of a plot to overthrow the current democratically-elected government and purported attempts by politicians to influence the office and soldiers of the Nigerian Army. It has vowed that no coup d’etat, or takeover of government, will be supported or encouraged by the armed forces. In a joint press briefing convened by the Defence Headquarters (DHQ) and the Nigerian Army in Abuja on Wednesday, the military asked................   read more

25 May

The prospects of Biafra 2.0

The FG’s handling of Kanu’s case and its general management of the pro-Biafra movement in the South-East have proven to be strategic blunders which ended up raising the profile of both the man and his cause. Just two years ago, Nnamdi Kanu was unknown to most Nigerians. Even within South East Nigeria, some saw him as an abrasive presence on the airwaves because of his incessant spewing inciting vitriol against Nigeria and other enemies of “Biafra” on the pirate................   read more

23 May

Analysis – Q1 GDP shows path to growth

This morning, the National Bureau of statistics (NBS) released its first quarterly report for 2017. The report revealed that Nigeria is still in a recession with Q1 2017’s growth rate of -0.52%, officially representing the fifth consecutive quarter of contraction for Africa’s largest economy. This was worse than SBM’s projection that Nigeria would be out of recession by the end of Q1. Nominal GDP (values not adjusted for inflation) for the quarter stood at ₦26.028................   read more

19 May

The week ahead – Thinking for Government 101

Nigeria plans to raise $3.5 billion in foreign loans including from the World Bank and from international debt markets, to help fund its 2017 budget deficit. Budget Office Director General, Ben Akabueze said $2 billion of the foreign borrowings would come from concessionary loans with the balance of $1.5 billion from commercial markets including the Eurobond market. He said Nigeria has a shortfall of $7.5 billion for its 2017 budget expenditure. “We would look at................   read more

12 May

The week ahead – A pipeline of hope increases expectations

The National Assembly signed off on a record ₦7.44 trillion budget for 2017 on Thursday. The budget is based on an assumed oil price this year of $44.5 a barrel, while global benchmark Brent crude is currently trading above $50. The plan also entails foreign borrowing of ₦175.9 billion and domestic borrowing of ₦1.488 trillion. Both chambers of parliament agreed to a bigger budget than the ₦7.298 trillion draft submitted by President Muhammadu Buhari in December.................   read more

08 May

What are the implications of the delayed budget?

On Friday 5th of May, Nigeria’s 2016 budget expired, meaning the country is now without a valid Federal budget.

This is the second year in a row that Nigeria’s budget is being delayed. What is different in this case however is the deafening silence, compared to last year when the issue was at least being discussed. The budget process is not a straightforward one as it usually entails several rounds of back and forth between the Executive and Legislature (both the................   read more

05 May

The week ahead – Hide and seek is the name of the game

Bisi Akande, a former national chairman of the All Progressives Congress (APC), says some people in the corridor of power, are feasting on the health condition of President Muhammadu Buhari. In a Monday statement, Akande said he expressed fear that the country may be thrown into anarchy if Nigerians did not learn from history. “These are two great red flag dangers that have the potential of plunging the country into unprecedented chaos and of destabilising the gains................   read more

28 Apr

The week ahead – Nothing is changing

The CBN Governor, Mr Godwin Emefiele, after a closed-door meeting with Senate President Bukola Saraki and legislative leaders, expressed optimism on Tuesday that the economic recession would be over by the end of June or the third quarter of this year, based on what he described as emerging positive economic indicators. According to Emefiele, these included the downward trend of the value of the naira in the parallel market against the dollar; a reduction in inflation................   read more

21 Apr

The week ahead – Groping for light

On April 13, President Muhammadu Buhari appointed 23 new executives into a bevy of federal government agencies, including the National Agency for the Prohibition of Traffic in Persons, the National Park Service and the Federal Mortgage Bank of Nigeria. Much of the spotlight was however reserved for the significant shake-up at the National Pension Commission. Here, six Executive Board members, including its respected Director-General, Dr. Chinelo Anohu-Amazu; the Chairman................   read more