The prevailing high lending rates have led to very high unutilised bank lending capacity with the proportion of domestic credit to the private sector as a proportion of GDP as low as 12.1 per cent in 2020 according to the World Bank.
The 2022 Appropriation Act fixed the naira exchange rate at N410.15/$1. But six days into the fiscal year, the Central Bank of Nigeria (CBN), as it is wont to do, unilaterally and ultra vires devalued the naira. That action appears to be in response to International Monetary Fund’s (IMF) calls for naira devaluation to pave…
Seemingly intractable power crisis rocking the country opened a new chapter the other day with the complete collapse of the national grid.
Recurring reports of Nigerians going missing and later found humiliated or maimed, killed in cold blood and mutilated are harrowing.
Implosion in the National Union of Road Transport Workers (NURTW) and attendant suspension of its Lagos branch reaffirm inherent excesses that neither modern unionism nor sane society should tolerate.
The oddity of Miss Cell 2022 pageant, held in Kirikiri prison the other day, was a nasty surprise that showcased the Correctional Centre as lacking in discretion.
As the drumbeat of 2023 general elections gets louder, various characters are throwing their hats into the ring and moving deftly to the rhythm. Even members of the political class and statesmen couldn’t but be shocked by the quality of aspirants ...
Rapid depreciation of the naira has outclassed the economic intelligence and electoral promises of the current administration as it did to its predecessors.
The failure of President Muhammadu Buhari’s administration is manifestly expressed in the basket case that the healthcare profession has become.
That Nigeria of the 21st Century has no credible social security system to buffer unemployment, vulnerable children, offer disability benefits or food assistance to the deprived is harrowing.
Parlous conditions of public schools, in the midst of idle education grants, signpost one of the inherent contradictions of the Nigerian State.
The so-called ‘fraternal squabble’ between two neighbours, as President Vladimir Putin profiled it, is nestling an overarching effect on the global community.