Nigeria is on a forward match to debt trap. Incessant urge by the federal and state governments to borrow is alarming. As of June 30, 2019, Nigeria debt stood at 25.70 Trillion Naira ($83.88 billion) according to the Debt Management Office of Nigeria. External portion of the debt stands at $27.16 billion while domestic portion …
Tag Archive: state government
MMM Ponzi Scheme and Government Failure
The basic function of government is to protect their citizens against imaginable scams from bad elements. In the mist of the present near economic collapse of Nigeria due to years of bad leadership, wanton looting of the treasury at all levels of government, and sharp drop in oil price, ordinary Nigerians are looking for a …
Recentralization of Nigerian Economy
Here we go again. Late president Yar’Adua first action when he assumed office was to reverse Port Harcourt and Kaduna refinery that was privatized by his predecessor, President Obasanjo. He did not stop there, NITEL, Nigerian Telecommunication company owned by the federal government which was privatized by Mr. Obasanjo was also bought back by the …
Optimism and Concerns for Nigeria in 2014
There has been endless deluge of bad news about governance in Nigeria from federal to local government level. Some of the pessimism is well deserved but they appear to be some bright spots in Nigeria political and economic landscape. However more work is needed to accelerate this development. Nigeria is a country endowed with abundant natural …