A truism of economies is they tend to thrive when they have a large stable middle-class. In the mid-2010s, one of the most aggressive facts promoted about the Nigerian economy was that it had created a large and thriving middle-class. Many observers were sceptical but were called naysayers. Today we are all concerned about the future of our economies which has become incalculable due to the uncertain impacts of COVID-19; rising inequality, growing poverty, upward concentration of wealth, and climate change. Nigeria is facing such concerns and has a serious youth immiseration and deprivation problem. And yes, the middle class and the less well-off are the hardest hit. Upward mobility for the youth has become a phantom.Continue reading
One of the most interesting but intractable things about development in Nigeria is the pervasive perception of both what it is and should be. What is development? Why are Nigerians always left behind? These are questions best answered indirectly. Continue reading
Windfall: Yankiokwa! Yankiokwa!!! Anytime you are this quiet we know you are up to something. How is you, Boss?
Yankius: Windokwa! The Windfall maker himself! Your potbelly has dwindled seriously. Is everything okay?
Windfall: Leave my stomach alone. I am curious. That bakery where the National Cake is being baked does still exist?
Yankius: The National Cake is crude oil. It still exists only nobody really wants it anymore. At least not for now.
Windfall: How can crude oil be the National Cake? Crude oil is a fossil fuel. Why do you have to be figurative about everything? Can you not just call cake what it is?
Yankius: In that case I will not talk any further about the National Cake. Continue reading