Archive for the ‘Markets’ Category

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Any political party promising rice selling at 2014 prices might sweep President Buhari’s administration out government resoundingly. Never underestimate hunger. (more…)

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Many Nigerians optimistically think that one day, the nation will attract enough foreign direct investment (FDI) to enable it thoroughly refurbish, upgrade or expand the generation, transmission and distribution capacities of the [now] privatised Nigerian Electric Power Sector (NEPS) in order to provide customers with “constant electricity” supplies. Please think again! Foreign investors are not coming into Nigeria with $20 billion (at least) to revamp  electricity in the country. Nigeria is in no shape to attract foreign investment and it is unlikely it would have if things were going well. Does Grand Minister, Babs Fashola, disagree? The attraction of FDI is solely based on the assurance that if invested it will yield ‘good secure’ profits for the investors. What other incentives are there for foreign investors to invest in Nigeria? (more…)

When last week Grand Minister, Babs Fashola (SAN), claimed his now famous incapacity to revamp the Nigeria’s electric power sector was due to the inadequacies of Nigeria’s population census agency, he knew he was lying. Another grand act of blamocracy engendered by the Buhari administration. Nigeria’s electric power problems are primarily that of money (investment) and transparency (incorruptibility); it has nothing whatsoever to do with population census. Fashola did not even have to lie about Nigeria’s electricity development backwardness even though he lied about giving Nigerians an ‘electricity miracle’ in just 18 months if President Muhammadu Buhari won the 2015 general elections. Any fiens? (more…)

A keynote lecture presented at Green Economics Institute 11th Annual Conference at Kellogg College, University of Oxford, England on the 29th of July 2016. The moderator was Miriam Kennet, the CEO of the Green Economics Institue.

 

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While there is a clearly identifiable oil production and exploration (E & P) ‘cartel’ constituted of mostly multinational corporations (with local clients) in the upstream sector of the Nigerian petroleum resources industry, such does not exist in the downstream sector relating to the distribution of fuel products. What causes fuel scarcity is the result of the actions and reactions of a ‘cabal’ of government officials and their clients in the private sector; such corporate clients are erroneously perceived as cartel members. (more…)