How can one explain the sheer wickedness of some Nigerians and the hardship and sufferings they are inflicting on their fellow citizens. Public service is supposed to be a call to duty for individuals to serve their fellow citizens, but some Nigerians have turned it into an avenue for primitive wealth accumulation. Primitive wealth accumulation …
Tag Archive: dollar
Removal of Fuel Subsidy
The federal government of Nigeria recently removed subsidy on imported Premium Motor Spirit (petroleum) and increased price of fuel from 86.50 Naira to $145 Naira per liter. What that means is that official government price of a gallon of petroleum now cost 580 Naira, a little less than $2 per gallon. Prices of petroleum has …
Nigerian Economy: Market Forces at Work
What is happening in Nigeria today is not difficult to understand. It is simply the law of demand and supply playing itself out in all facet of Nigeria economy. Nigerians are in untenable position and suffering due to avoidable and unavoidable mistakes. President Buhari’s government are instituting a number of policies without thinking through the …
Nigerian Economy in Peril
Nigerian economy may implode in no distant future due to conflagration of forces working against African biggest economy. Failure by successive Nigerian government to diversify the economy and wean the population from petroleum and gas dependence was an unmitigated disaster. The chicken has come home to roost. The oil price is now below $30 a …