Is Nigeria’s official fuel pump price still official?

By Zuhumnan Dapel Nigeria churns out roughly 2 million barrels of crude oil a day, making it Africa’s top producer and the world’s thirteenth. But still, because of its feeble domestic refineries, Nigeria imports about 80 percent of the gasoline it consumes at home, selling it at a government-fixed rate (US$0.43) that is below the […]

Continue Reading

Naira redesign: Urgent need for a post-mortem – Part 2

This paper had warned that the bold plan by the CBN to redesign and issue new naira notes from mid-December was wrongheaded and ill-timed. The CBN, in presenting the new currency plan, had leveraged the unease with substantial currency holdings outside of the banking sector and the purportedly detrimental effect on the effectiveness of monetary […]

Continue Reading

Governors are sponsors of Eze Igbo, Oba Yoruba, Sarkin Hausawa

By Azuka Onwuka Over the weekend, there was a news story that the Lagos State Government had banned non-indigenous traditional titles over a video made by the Eze Igbo of Oshodi-Isolo, Fred Nwajagu, in response to the ethnic attacks on Igbo during the last election. It was reported that he was promptly arrested by the […]

Continue Reading

Naira redesign: Urgent need for a post-mortem

At last, the leadership of the Central Bank of Nigeria (CBN) has eaten its word on the disastrous implementation of the naira redesign policy. Besides the sluggish return of the old currencies into circulation, average Nigerians and other victims deserve a post-mortem disclosure on the unfortunate policy, and why it was foisted with defiance – […]

Continue Reading

President and CBN Governor’s disobedience of Supreme Court

CBN governor Godwin Emefiele and Nigeria President Muhammadu Buhari… Photo: Twitter/NigeriaGOV By ignoring two interim orders of the Supreme Court, and seemingly disregarding a third final order for 10 days, President Muhammadu Buhari and the Governor of Central Bank, Godwin Emefiele, ran afoul of the nation’s constitution and set a bad example for Nigerians. The […]

Continue Reading