Inflation numbers for january 2011 are out with iinflation rising for the first time in a while to 12.1%. This somewhat justifies the central banks benchmark interest rate hike last month. All eyes are on the FG’s rising spending as the guilty party here but some world prices have gone up as well. It is… Continue reading Inflation numbers – 12.1%
I wrote something a few days ago about the issues with the excess crude account. I promised to say something about the foreign reserves so here it goes. Yes the foreign reserves are falling but that just means the central bank is having to back a currency (the naira) that the market wants to devalue.… Continue reading and the foreign reserves….
I just recalled one of the arguments of the Atiku campaign organization. Something about the excess crude oil account which stood at about $15b in 2008 but has dropped to less than $400m now. Although there was a financial crisis sometime during this period, the feeling is that the excess crude account is being wasted… Continue reading $90 – $65 = ??? Where has all the excess gone?
I’ve been on some sort of blogging hiatus for a while now. Ok maybe a little more than that. I’m back now however and ready to add my own 2 cents to the Nigerian economic discourse. Not much has changed in Nigeria since my last post though. The Petroleum industry bill is still……. somewhere in… Continue reading The hiatus
I read an article recently on job creation through agriculture and I just want to add a couple of points to the suggestion. It is clear that agriculture should be the foundation for any future growth in Nigeria but why is that agriculture has not taken and just what should be done to kick start… Continue reading On Job creation and Agriculture
So the new electricity “road map” was announced a week ago and it involved splitting up the distribution end of phcn and selling them off. The idea is to create efficiency in the distribution of electricity ( at least in terms of people paying their bills). This should make phcn ( who still owns the… Continue reading Thoughts on the electricity “road map”
Electricity “reforms” continue with the planned sale of 11 distribution companies. The FG had previously said that they would announce an electricity reform blueprint by the end of august. I am hoping that this is not all they plan to announce. That being said, what difference will selling of the distribution companies make? For starters… Continue reading Progess (maybe) but I hope that is not it.