No Foreign Investment for Nigerian Electricity

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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? Continue reading

Nigeria is Still Seeking Loans to Finance “Unsolicited Proposals”

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How can a so-called modern nation be perennially managed since Independence by way of “unsolicited proposals”? President Muhammadu Buhari came to power on the slogan of “Change” but he is still governing Nigeria unrelentingly with the instrument of “unsolicited proposals”. When loans are used to fund “unsolicited proposals” it is no different from gambling, high-stakes gambling. Any government that manages its affairs and vision with total dependence on “unsolicited proposals” is devoid strategic planning, structural effectiveness and reliable outcome expectations beyond the short-term; such is governance by improvisation [haphazard] and instantaneous expediency. Is this truly the way forward for Nigeria? Continue reading

Scamming with the Name of Ngozi Okonjo-Iweala

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Someone boldly parading as Oby Ezekwesili and Ngozi Okonjo-Iweala (at varying times but using the same lines) on Facebook is asking ‘new’ “friends” by way of private intimate and salacious conversation to pay N40,000 upfront in order to get a N5 million loan from the Central Bank of Nigeria (CBN). This is no doubt yet another approach to the infamous “419” (advance fee fraud) scam Nigeria is, unfortunately, associated with. Continue reading

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