economy’

Ramaphosa Must End The Excuses And Save South Africa

No More Excuses: Ramaphosa Must Save South Africa Now!

March 6, 2023 5:13 am

If the term ‘crisis riddled’ were to be used to describe any country in the world right now, it would perfectly describe South Africa; and perhaps still won’t do justice to the situation.

South Africa is drowning in its problems, and there seems to be no anchor to save it. Unemployment is at an all-time high, electricity is worsening by the day, and the citizens are losing every atom of hope in the government.

Despite the implementation of the mandate of Cyril Ramaphosa’s administration, which is the Medium-Term Strategic Framework (MTSF), there is not much progress to be accounted …

Nigeria, A Banana Republic Under President Buhari

Nigeria, A Banana Republic Under President Buhari

December 26, 2022 2:18 am

It took President Muhammadu Buhari barely two tenures to ensure that Nigeria becomes a full-blown lawless society where monkeys run the show and lunatics call the shots. The country is now rudderless and has remained on a consistent drift to total collapse. This is what happens when an airhead and inept individual is smuggled into leadership position by people who are barely informed.

It is without a doubt that Nigeria is currently without a leader. Many people have continued to make the mistake of asserting that Nigeria is on an ‘auto-pilot’ mode. Well, this is not the case because when …

Nigerian New Notes: CBN Led By Emefiele Is Bereft Of Ideas

November 30, 2022 2:47 am

Nigeria’s apex Bank, the Central Bank of Nigeria (CBN), got Nigerians reacting to the samples of the new designs of higher denomination currency notes just a few days ago. The decision to redesign these currencies was earlier announced amid mixed feelings from Nigerians who wanted more from a Central Bank that has supervised the eroding of the value of their beloved Naira.

The big question that has been left unanswered, however, is how the new currencies will manage to reverse Nigeria’s fast-paced journey to economic abyss.

The announcement by the Governor of the CBN, Godwin Emefiele attracted controversies from experts, …

Top 5 Wealthy Nigerians: Looters Or Legitimate Money Bags

Top 5 Wealthy Nigerians: Looters Or Legitimate Money Bags?

November 14, 2022 2:37 am

Nigeria is a country that presently warehouses one of the worst economic inequality numbers in the entire world. Despite being one of the most endowed countries in Africa both in terms of natural and human resources, Nigeria is still home to the poorest people on the continent. In the face of plenty lies abject poverty and the gap continues to widen.

The country’s richest man, Aliko Dangote would have to spend $1 million every day of his life for 42 years to completely exhaust his fortune. This is both worrying and sad, and would make one wonder whether there is …

Who Is Behind The Oil Theft In Nigeria

Who Is Behind The Oil Theft In Nigeria?

November 14, 2022 2:29 am

Nigeria, as presently constituted, qualifies to be named a crime scene. From state-sanctioned insecurity to massive corruption, down to outright abuse of state power. It appears as though Nigeria is fast becoming a banana republic of some sort. With every passing day, a new development occurs, cementing the notion that Nigeria is a criminal state where only crime and criminality thrive.

The anomalies are endless and the situation is rotten and sour.

With no big shot at redemption, Nigeria has continued to crumble, and may very soon become irredeemable.

Ironically, it took recent revelations about the grand schemes of oil …

Subsidy I Pity The Next President Of Nigeria – Sanusi

Subsidy: I Pity The Next President Of Nigeria – Sanusi

October 16, 2022 2:47 am

A former Emir of Kano, Lamido Sanusi has expressed his compassion for the next president that will succeed President Muhammadu Buhari, due to the perceived depleted state of the economy.

Sanusi, who is also the current Khalifah, Tijaniyat Movement of Nigeria, made this known in Kaduna on Saturday while addressing notable politicians at a Kaduna Investment programme titled, “Building a resilient economy”.

The 14th Emir said Nigeria’s economy has been tied to the oil and gas sector and subsidy removal is fast mitigating the economy’s growth.

‘Nigeria has continued to be a rentier state. It does not exist for …

How Oil Theft Is Pushing Nigeria’s Economy Into Coma – Lawan

How Oil Theft Is Pushing Nigeria’s Economy Into Coma – Lawan

September 21, 2022 8:42 am

The President of the Nigerian Senate, Dr. Ahmad Lawan has asserted that the generation and collection of revenues have remained the country’s major challenges as well as the massive loss of revenue through oil theft, now  ‘debilitating and threatening to throw the economy into a coma.’

Lawan, while welcoming his colleagues from the long annual recess, lamented that revelations about the scale of oil theft shows that Nigeria could soon lose all revenues from that sector.

He charged his colleagues to ensure that everything possible was done to curtail this theft.

Lawan said the nation’s economy is still challenged,…

2023 Corruption Is Ruining Nigeria, I Will End It – Obi

2023: Corruption Is Ruining Nigeria, I Will End It – Obi

September 20, 2022 6:55 am

The presidential candidate of the Labour Party, Mr. Peter Obi, has asserted that fiscal recklessness, inability to tackle insecurity and corruption have been primarily responsible for Nigeria’s failing economy.

Obi also said that domestic problems, caused by leadership failure, have damaged the unity and cohesiveness of the country.

The former Anambra State governor, made this known while speaking at the Private Sector Economic Forum organised by the Lagos Chamber of Commerce and Industry on Monday, said the government that would succeed the Major Gen. Muhammadu Buhari regime in 2023 would be confronted by an array of daunting challenges, both …

2023 Tinubu Will Transform Nigeria’s Economy – Hon Faleke

2023: Tinubu Will Transform Nigeria’s Economy – Hon Faleke

August 19, 2022 6:53 am

Ahead of the official commencement of the campaign, the Secretary general, All Progressives Congress (APC) Campaign Council, James Faleke, has asserted that the APC presidential candidate Asiwaju Bola Tinubu, will turn around Nigeria’s economy from import dependent to production based.

Faleke made this assertion when he received members of the APC National Integrity Movement (ANIM) who visited him on Friday in Abuja.

He expressed the strong belief that APC would win the 2023 presidential election, owing to the belief that the Tinubu/Shettima project was a project for all APC groups and party loyalists across the country.

Faleke pointed out that …

Nigeria’s Economy On The Verge Of Collapse - UNDP Report

Nigeria’s Economy On The Verge Of Collapse – UNDP Report

August 9, 2022 4:45 am

In the aftermath of a sharp decline in revenue and foreign exchange earnings in the country coupled with increased debt service payments, a United Nations Development Programme (UNDP) report on Nigeria has declared that Nigeria’s economy is presently wobbling and on life support.

According to the report that Africa Daily News New York obtained, on Monday which is expected to be made public on Wednesday, August 10, the COVID-19 pandemic has dealt a big blow to the economy coupled with a decline in revenue and foreign exchange earnings. This is because of the fall in oil prices and the reduced …

Nigerian Govt Moves To Halt Exportation Of Raw Minerals

Nigerian Govt Moves To Halt Exportation Of Raw Minerals

July 29, 2022 5:51 am

The Federal Government of Nigeria has revealed that it has now embarked on a move to end the exportation of raw minerals in the country to aid in the diversification of the economy, job creation, and industrialisation of the country.

Minister of Mines and Steel Development, Olamilekan Adegbite, disclosed this while briefing journalists in Abuja, today.

He lamented that Nigeria is up till now still exporting crude oil as traded for refined petroleum products.

He said the state would take advantage of the abundant solid minerals in their area to improve its revenue generation.

He said: ‘As we started …

US Economy Hits Contraction, Heightens Recession Fears

US Economy Hits Contraction, Heightens Recession Fears

July 28, 2022 4:48 pm

Businees reports have revealed that the United States economy has actually contracted for a second straight quarter between April and June thereby giving rise to more recession fears just months before key midterm elections in a blow for President Joe Biden.

Gross domestic product had also declined at an annual rate of 0.9 percent in the second quarter which came after a bigger drop in the first three months of the year, according to the Commerce Department. Two-quarters of negative growth is commonly viewed as a strong signal that a recession is underway, and a downturn in the world’s largest …

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