Columns

A Toast To N700 To a Dollar By Year End, By Uddin Ifeanyi

Accordingly, she factors in a 23 percent movement (down) on the naira’s current exchange rate, which should see the currency close the year at about US$1:N650. Add other risk premiums, including a large one for left-handed monetary policy management and the naira could end the year at circa US$1:N700. The…
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Columns

How Well Can We Use the New Monies We Are Borrowing?, By Uddin Ifeanyi

- Nigerian finance minister, Kemi Adeosun I do fear, though, that without the changes to the economy’s structure that address these constraints, these new debts simply create a new “peonage” (that was the old one-word description of the then Third World’s debt burden.) That Nigeria’s first foray into the international…
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Columns

What Hope for the Economy’s Recovery this Year?, By Uddin Ifeanyi

... a lot of the hopes for the economy this year ride on the reflationary attribute of the 2016 appropriation bill. But a N7tn budget will push a N95tn economy only if the spending shows up in new capital being formed, and in higher levels of household spend. Speculation about…
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Columns

Weak Tailwinds and a Sick Economy, By Uddin Ifeanyi

...none of the developments last week supported a sense of an impending correction of the poor policy prescriptions this year. If anything, the federal government’s sense of what must be done to address the naira’s exchange rate crisis only further exacerbates the fear over poor policies. News out of and…
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Columns

Did the Special Adviser Tell a Fib?, By Uddin Ifeanyi

So, was the special adviser mislead? She could have quite credibly mistaken the number for sub-Saharan Africa’s personal home remittances for Nigeria’s. Or did she simply tell a fib — one that was designed to make her government look good? That the Buhari administration has a sense of humour is…
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Columns

On the Forthcoming Cabinet Changes, By Uddin Ifeanyi

...the cabinet change is not designed to deal with identified lapses in the performance of existing ministers, nor to reward ministers who have performed exceptionally — difficult to name any, from my admittedly poor vantage. Rather, halfway into the administration’s term it would just be bringing in new faces —…
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Columns

Autarkists and Import Substitution Development Strategies, By Uddin Ifeanyi

At the import substitution and clamour for autarchy levels, this inversion of the cause-effect relationship is already hurting. To make the famed “local rice” affordable, sub-national governments across the land have set about subsidising the price at which people buy it. How do you square initiatives such as this with…
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