On the 3rd of September, 2015, it was reported by AfrAsia Bank and the New World Wealth that there are about 163,000 millionaires in Africa. Mind you, the currency of reference is the United States Dollar. This got me wondering about the number of African billionaires there are, so I visited my friend- Google who…
Tag: change
Falling Oil Prices: A Blessing to Nigeria
Oil prices are dropping. 1st August, $104 per barrel, 28th October, $82 per barrel and today, December 15 the price stands at approximately $58.65 per barrel. Are we at the bottom? Can it get worse than this? The prophets are prophesying already, “Doom awaits Nigeria”. Really? As an Econo-jurist of this great nation, I hereby…
Oil and gas: The stimulant for wider national development
Nigeria’s oil and gas sector is, and has been for many years, a glaring paradox. The reasons for this are well known. We are the ‘12th largest producer of petroleum in the world and the 8th largest exporter, and have the 10th largest proven reserves’. Yet, we import the majority of our petroleum products. We have…
Creating a Nigerian Skills Base for Future Growth
No one can deny that the private sector plays a key role in a nation’s economic growth. This has been spectacularly demonstrated in China in the last two decades where an improved environment for business productive activities led to massive economic growth through increased jobs, more investment and innovation, increased goods and services. This is…
Will your high walls protect you and your family?
Everywhere in Lagos, amidst lack of infrastructural maintenance, posh suburbs are springing up by the day. The real estate market in Nigeria and Lagos in particular, is booming. Some don’t even allow the erratic nature of PHCN to deter them; these estates boast of independent power generation. Many of these so called estates are actually…