Columns

February 14, 2015 and the Space for Ideas, By Ifeanyi Uddin

Across our political space, one gravamen is repeated to the point of monotony: how money now dominates our politics. The conversation around this takes place with varying degrees of sophistication. It includes the excited disputation by the newspaper vendors’ stand (close to the bus stop) about how much each got…
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Columns

Subsidy? Cross-…? Counter-subsidy? By Ifeanyi Uddin

In its time-lapse response to the bottom falling out of the global oil market, the Nigerian government announced a series of measures, under the rubric of a new “austerity programme” (our last experience of this phrase was far from salutary), designed to tide the economy over the downside consequences of…
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Economy

Making Sense of Our New Policy Direction, By Ifeanyi Uddin

The central bank's (CBN) rate-setting committee, the Monetary Policy Committee (MPC), ended its November meeting (last week) with arguably the boldest steps it has taken of late. While the decision to move the mid-point of the naira from the fictional position (N155/US$1) it has been held at by the CBN…
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Ifeanyi Uddin

Parking the Bus for the Naira, By Ifeanyi Uddin

Over the last couple of weeks, as the price for Bonny Light (Nigeria's benchmark crude) touched new depths on the global markets, and our export earnings dropped, conversation has fixated on appropriate fiscal and monetary policy responses. In slow motion, the fiscal side declared an “austerity programme”, details of which…
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Columns

As the Economy Prepares for the Winter Season, By Ifeanyi Uddin

“All is well!”, they shout. But the place smolders still. Our Emperor? In the end, not even Nero Claudius Caesar Augustus Germanicus mattered any more after the “Great Fire” destroyed Rome in 64AD. However, Thursday, last week, the Central Bank of Nigeria (CBN) issued two circulars that were essentially a…
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Columns

Horns and Lagos’ Traffic, By Ifeanyi Uddin

One of the more interesting dimensions to the management of the Ebola Viral Disease is the recourse by the medical profession to symptomatic treatment. Besides quarantining victims, hospitals, at present, simply monitor their vital statistics, infusing them with blood when necessary (and possible), and regularly rehydrating them. Thus, addressing only…
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Columns

Falling Oil Prices and our Dr. Pangloss, By Ifeanyi Uddin

As with politicians the world over, the Goodluck Jonathan administration is wont to stretch its luck. What to make of the claim, for instance, that the “new, and bigger” Nigerian economic output base is the result of the administration’s effort over the last four (five?) years? How do we rank,…
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Columns

Our Near-Open Society and Its Enemies, By Ifeanyi Uddin

After the many traumas that was the Great Recession, considerable uncertainty remains over how to interpret current (political, social, and economic) events. There is clear evidence of an uptick in the US’ economy (and to some degree, in the UK, too). The euro zone was still undecided where it was…
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