Lagos’s Highway ‘Robbers’
They dart between fast-paced vehicles and scurry among slow-moving ones, holding on to wares as varied as toothpaste and hi-fi systems; snacks and vacuums; bootlegged CDs and complete Chinaware. Toun Aderele welcomes you to the world of Lagos’s highway traders.
So disruptive is the external debt burden in Africa that any government able to pay off creditors could feel invincible, but this is even more the reason Olusegun Obasanjo should respect the constitution which saw him into the presidency in 1999 writes Rose Umoren.
Just how many Nigerians are there?
Population has always been political, so governments across tiers and time engage in gymnastics to inflate or deflate figures, as suits the purpose. Nigeria’s third census in its 45 years bore the hallmark, often in extreme writes Rose Umoren
Averting the past
That Nigeria faces an unconstitutional break-up no longer needs expert forecast writes Rose Umoren.
Endgame for political bickering
Kenyans are gearing for a referendum that will finally bring to a close the long-drawn out constitutional review process which has been going on for at least five years, and has generated extreme temperatures.
What debt relief?
Every borrower country knows how elaborately some Paris Club members have over the past decades interpreted some of their clauses to promote narrow commercial interests while leaving the debts piling up and unresolved.
Nigeria’s brand of federalism risks division
Marginalised ethnic groups in Nigeria have made the battle for the devolution of power and resources from the centre to the regions a battle-cry in recent months, and the government has responded swiftly enough.
Nigerian paradox and disintegration alarm
Concerned patriots who dismiss the prediction of the USA’s intelligence service report that Nigeria may disintegrate within the next 15 years should critically examine the current parlous state of Nigeria.
Entrepreneurs for Africa
Today, as CEO of the Dangote group, Aliko runs its heavy interests in importation. His group controls 60% of the sugar market in Nigeria, and its trading interests in textiles, food commodities and transportation span the West African sub-region, particularly Benin, Cote D’Ivoire and Ghana.
The Ides of spring
It looks like anti-corruption spring cleaning in Nigeria: two ministers fired, the senate president replaced and a sacked police chief handcuffed to court. But will the many fat ladies in and out of the dominant oil sector and across government sing in the world’s most corrupt nation?
Can we trust these figures?
Nigeria may soon announce a record single inflation rate, but disinflation – the deceleration of price increases - is as worthy of celebration as its drivers and context.
Power issues dog Nigeria
Nigeria is notorious for power outages, but the ongoing crisis is the worst yet. This year started with a daily generation of 400MW for 135m people, not to mention security, aviation, telecommunications and industrial installations
Nigeria IMF must get tougher
After a loud parting of ways on the eve of the 2003 presidential election, which now seems theatrical, the IMF - with its World Bank sister – has raised its profile in Nigeria in the past 18 months.
Nigeria dances corruption jig
Once again, Nigeria ranks 144th on Transparency International’s (TI) annual corruption table, although a Haiti- Bangladesh tie at 145th moves it from the second to the third most corrupt country in the world
When in deficit, up fuel prices!
This is the crux of the paralysing government-civil society confrontations over fuel prices which have characterised the five-year-old Olusegun Obasanjo presidency.
Deja vu or reality?
Yet democracy's birth in 1999 was more fortuitous for Nigeria than for some other African countries'. This being the fifth attempt at it, there was a wide acceptance even by the military. Structures were simply resurrected. As an bonus, oil revenues have exceeded expectation, following record world prices.
Shell hangs on in Nigeria
Shell’s production share has slipped from a high of 80% in the face of newer entrants like Mobil, Chevron, Total- finaelf and Texaco, its political power has heightened over the years, reaching its zenith under the military rules of Generals Ibrahim Babangida and Sani Abacha.
Soludo and the banks
In early July, Soludo stunned bank chiefs attending the weekly CBN-banks parley by announcing N25 billion ($180 million) as the minimum capital base - shareholders' funds plus most reserves - to be achieved within 18 months. From January 2006, only banks so endowed will access the crown jewels: public sector deposits and the government's foreign exchange (FX) auction.
New man at CBN
The 26 Nigerian banks among sub-Saharan Africa's top 100 account for only 10 percent of the $13 billion total core capital. Conversely, South Africa's six account for 70 percent.
A slippery opportunity
After their long isolationist military rule, Nigerians are now able to compare themselves with other democracies; as a result, they, have become radicalised by political disenfranchisement and economic alienation.
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