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…
Poverty and Rising Food Prices, By Ifeanyi Uddin
Should we be concerned that over the last six (6) months rising food prices have been the single most important cause of the upward movement in headline inflation numbers? The year-on-year price change for the “All Items Price Index” (as measured by the Nigerian Bureau of Statistics — NBS) closed…
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Economic Headwinds and Policy Responses, By Ifeanyi Uddin
You do not have to be a close watcher of the Nigerian state to conclude that the short stretch of road ahead (until the next fork in February, next year) would be one of the more turbulent since we commenced this new democratic experiment in 1999. Here is to hoping…
The Economics of the Planned Ban on the Consumption of “Ponmo,” By Ifeanyi Uddin
A clear trend is emerging in the thinking around the best way to manage our economy. It is unashamedly mercantilist. In response to the question, "How do we accelerate domestic economic growth?", the Jonathan administration conflates two ordinarily separate lines of thought on the issues facing the economy, confusing an…
Should Alarm Bells Be Ringing For The Economy? By Ifeanyi Uddin
One of the more risible aspects of the recent re-basing of domestic economic output numbers was the attempt by pro-Jonathan administration types to pass the higher GDP numbers, which emerged, from the exercise, off as the result of the incumbent administration’s “transformation” efforts. Politics may have played a part in…
Reforming The Public Sector, By Ifeanyi Uddin
Arguably, the most telling criticism of the incumbent administration is that it has taken its foot off the reform gas pedal. It was heir to what might pass for the most comprehensive attempts at reforming the Nigerian economy in a way that improves the efficiency of its resource allocation process,…
Structuring Bank Charges Properly, By Ifeanyi Uddin
The decision by the Central Bank of Nigeria (CBN) two weeks ago to reintroduce fees for ATM transactions has largely attracted adverse commentary. In part, this is a question of timing. Coming early into the tenure of the new CBN governor, there are reasons to wonder whether the apex bank…
Leaders Worthy In Character and In Learning, By Ifeanyi Uddin
Part of the mystique of the events leading up to and succeeding the annulled presidential elections held June 12 1993, was the unusual succession of moments of truth associated with the people, processes, and events involved with that now infamous episode in our annals. My favourite such moment occurred during…
Of Miracles And Miracle Compounds, By Ifeanyi Uddin
The most recent outbreak of the Ebola haemorrhagic fever has had a most chilling effect. Unlike previous such outbreaks in isolated parts of Africa, where high case fatality rates and relative inaccessibility meant fewer deaths, this one appears to be riding on the back of the globalisation train. From its…
Who is Afraid of Low Interest Rates? By Ifeanyi Uddin
In favour of “low” interest rates, there is basically only one argument. The interest rates regime (adjusted for associated risks, including, inflation) in any economy, indicate to potential investors how much they may earn on their investments. Ideally, in a properly functioning economy, few arbitrage opportunities should exist, and so…
