Columns

Nigeria’s Worsening Finances, and the Untravelled Reform Path, By Uddin Ifeanyi

...the challenge before domestic economic performance, going forward, will about how we structure domestic incentives ― the obvious preference being for policies that are sector-neutral. And how we communicate these incentives ― preferably transparently, and via markets that function better than what we have at present. The numbers released, last…
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Columns

Foreign Investors and Nigeria, By Uddin Ifeanyi

Without the right architecture, the naira will continue to tread water. However, re-purposing macroeconomic policy is possible only when those responsible have a fully functioning understanding of the problems the country confronts. Two seemingly unrelated reports, last week, by Bloomberg painted a rather gloomy picture of the outlook for the…
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Columns

How Do We Solve A Problem Like The CBN?, By Uddin Ifeanyi

...the rational response to rising prices is either front-load spending (driving prices up further), or look for safe haven assets (like the dollar). Both responses put further downward pressure on the naira. Why not, therefore, seek to strengthen the naira as a store of value, even as we free the…
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Columns

Naira, Between the CBN’s Dream and its Nightmare, By Uddin Ifeanyi

The CBN may look to its political space for cues, but its mandate is an economic one. If after freeing the naira from current policy impediments it loses value rapidly, that would be because the economy (and the policy responses of its managers) do not yet support a currency as…
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