Opinion

Can Nigeria Ever Achieve Single-Digit Lending Rates?, By ‘Tope Fasua

...it is far better – and more reasonable and feasible – to achieve a 15 percent growth of the overall economy year on year, while living with double digit interest rates and double-digit inflation. That is what we should be targeting for now. There are too many sectors of the…
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Columns

On Today’s Meeting of the MPC; and the CBN’s Thought Processes, By Uddin Ifeanyi

Much of the public reaction to that document was taking up by attempts to parse Adedoyin Salami’s observation that the CBN may have turned “piggy-bank” for the federal government. Our laws don’t like this idea. Therefore, the Central Bank Act 2007 granted the central bank both goal and administrative independence…
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Columns

Waltzing Out of Recession Through Lower Consumer Prices, By Uddin Ifeanyi

...both functionaries of state may have been less than responsible in raising hopes prematurely. This is especially so, because even their reading of their preferred index, inflation, is tendentious. A perfunctory reading of the National Bureau of Statistics’ numbers for inflation would show that the outlook for domestic prices are…
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Opinion

It’s About Time Nigeria Resolves Its Monetary Policy Conundrums, By Ayo Teriba

Soludo’s style of mopping up public deposits from banks with excess liquidity is indeed equivalent to a selective cash reserve requirement regime in which the hammer falls only on the banks that are likely to destabilise the system with excess liquidity. Some variants of that approach is needed to demolish…
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Columns

PhD Truck Drivers And The Urgency Of Now, By Okey Ndibe

Mr. Buhari continues to invoke his personal virtues, his ascetic mindset, and his commitment to change. And he continues to blame his predecessors. But those attributes—self-assessment, rhetoric and the blame game—won’t suffice to address Nigeria’s gargantuan crises. Does he have it in him to outline a bold vision for Nigeria’s…
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Opinion

The Incompetence Tax or Why We Can No Longer Wait for Devaluation, By Femi Akinfolarin

...we find ourselves in a uniquely terrible position because we did not act quickly enough when we should have and the blames lies squarely at the table of the current CBN governor, the economically illiterate president and the lightweight economic team. Unfortunately, the current leadership of the Central Bank also…
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Guest Columns

Nigeria and the Search for the Right Economic Paradigm, By Bolaji Okusaga

At the start of the current foreign exchange imbroglio, the government allowed the CBN governor a free reign as he experimented with currency controls – banning and unbanning items fit for access to the dollar at the official rate, yet no fiscal policy direction was unveiled to address imbalance within…
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