The Nawo project

Participating in politics can be very difficult. Most think of politics as simply voting during elections but voting is actually the end of the political process, or political cycle. Participating in politics is more than just voting. It is joining a political party, engaging in debates, attending meetings at your ward, discussing with your delegates,… Continue reading The Nawo project

Sounds like something from the cold war

“Intelligence reports at the disposal of the bank reveal the involvement of some unpatriotic elements funding the push to have the Central Bank of Nigeria and the federal government reverse its foreign-exchange policy,” Isaac Okorafor, a spokesman, said in a statement on the Abuja-based central bank’s website. “Self-centered individuals, who have failed to assail our… Continue reading Sounds like something from the cold war

The political economy of BDCs and black market premiums

We seem to fall into a recurring cycle of bad policy with regards to the foreign exchange market. It is possible that policy makers implement bad policy by accident. However it is also possible that policy makers implement bad policy by design. Could bad policy in the foreign exchange market be the result of political… Continue reading The political economy of BDCs and black market premiums

A Really Simple Model of How We Got Here.

A friend asked a simple question yesterday with regards to the Nigeria foreign exchange and domestic production problems: how did we get here. Which I have translated to mean how did we get to the point where we appear to import so much while local manufacturing does so little. The sentiment, in general, is partly driven… Continue reading A Really Simple Model of How We Got Here.

The Sacking or Suspension

In case you had not heard; the presidency yesterday suspended the governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi (SLS). He has been temporarily replaced with Dr. Sarah Alade who until now was deputy governor in charge of economic policy. Godwin Emefiele has been nominated as the new governor and will supposedly start his… Continue reading The Sacking or Suspension

Why IOC divesment might not be such a bad thing

I read something in the news a few days ago about IOC’s selling their assets in Nigeria, particularly their onshore assets. Something about it being a sign that the Nigerian oil industry is in trouble. Read here and here. There may be a silver lining to this divestment. A blog post on the Why Nations… Continue reading Why IOC divesment might not be such a bad thing