Tag: Economy
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Nigeria now sailing in a terrific oceanic wave of confusion -Godwin Etakibuebu
By Godwin Etakibuebu Turning and turning in the widening gyre. The falcon cannot hear the falconer; Things fall apart; the center cannot hold; Mere anarchy is loosed upon the world. Achebe used this opening stanza of William Butler Yeats’s poem “The Second Coming,” from which the title of his novel was taken, as an epigraph…
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Politicisation of CBN and consequences – Dele Sobowale
By Dele Sobowale “Let the CBN stop freezing the bank accounts of activists because it constitutes a gross infringement of the fundamental right to fair hearing and property. If the CBN does not desist from the illegal practice, our courts should turn down frivolous applications for freezing the bank accounts of activists and other citizens.”…
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Economists talking to FGN in vain – Dele Sobowale
By Dele Sobowale “It requires wisdom to understand wisdom. The music is nothing if the audience is deaf.” Walter Lippmann, 1889-1974, VANGUARD BOOK OF QUOTATIONS, p 275. Abandon hope all those who intend to advise the Federal Government of Nigeria, FGN, regarding how to get the economy growing at a faster rate than what we…
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The economic outlook for 2021 not good -Dele Sobowale
By Dele Sobowale As we get into the middle of the second month in the year, global economic and financial institutions are busy forecasting what the end result will be for all the nations of the world. Their analysis and projections are purely technical and devoid of political bias or influence. The IMF is seldom…
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Lanlehin, others seeking to derail Oyo’s economy – Makinde’s CPS
The Chief Press Secretary to Governor Seyi Makinde, Mr. Taiwo Adisa, on Sunday, accused opposition figures in the state of a deliberate plot to chase away investors and slow down the state’s economy. Adisa, who was reacting to a statement credited to the governorship candidate of the African Democratic Congress (ADC) in the 2019 election…
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U.S. economy recession worst performance since 1946 -Report
The U.S. economy contracted at its sharpest pace since World War 11 in 2020, as COVID-19 ravaged services businesses like restaurants and airlines, throwing millions of Americans out of work and into poverty. The economy contracted 3.5 per cent in 2020, the worst performance since 1946. That followed 2.2 per cent growth in 2019 and…
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Nigerian government’s heavy borrowings from CBN could crash economy – Fitch
The Nigerian government has been advised to reduce its borrowings from the Central Bank of Nigeria (CBN) for funding the budget deficits. In a statement issued on Wednesday, the rating agency said the constant running to the apex bank to get funds “could raise risks to macroeconomic stability.” Just like others in the emerging economies,…
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TNG analysis: 2020 is gone, but here is why we think Nigerians may carry over additional problems in 2021
With the hope of escaping many problems of the year 2020, today, Nigerians join citizens of other countries in the world to celebrate the beginning of the new year, 2021, but it appears so many of the burdens of the previous year may become a carryover for the country and its people. Covid-19, its…
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The state of the Nigerian economy – Dele Sobowale
Dele Sobowale “Our responsibility, I said, is to secure this country for all the citizens to do their businesses without any problems. We haven’t achieved that yet. …We have a lot of work ahead of us..” President Buhari in NTA interview, December 2020. The question most frequently asked of me in my almost 30 years…
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PDP lectures Buhari on management of economy, exit from recession
The Peoples Democratic Party (PDP) has advised President Muhammadu Buhari to permit a free market economy that will allow Nigerians actively participate in the economic space to boost productive sectors. Mr Kola Ologbondiyan, PDP’s National Publicity Secretary, in a statement in Abuja on Sunday said this would bring Nigeria’s economy back from recession. Ologbondiyan urged…