Economic Sectors – Not Complementary

Economic Sectors – Not Complementary

No agreement today, no agreement tomorrow – Fela Kuti

Capable societies are those that have enforceable institutions of public value, while incapable societies lack them at national and local levels. Such nations are mainly in the Global North. It is easy to identify nations in the Global South as incapable of such enforcement. Public value can be economic or social. Accordingly, incapable societies cannot create public value by themselves. They can only extract it and thus live on dependency. If they have mineral riches, they become rentier states. Otherwise, they stand as highly indebted nations ever seeking technical help. Surviving on begging bowl economics. (more…)

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Yankius on The National Cake

Yankius on the National Cake.

Windfall: Yankiokwa! Yankiokwa!!! Anytime you are this quiet we know you are up to something. Meanwhile, how is you, Boss?

Yankius: Windokwa! The Windfall maker himself! Your potbelly has dwindled seriously. Otherwise, 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. (more…)

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There Is No Fuel Scarcity Cartel in Nigeria

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…)

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Nigeria in Pieces

Nigeria

When Sir James Goldsmith in his book, The Trap, predicted in the mid-1990s that the nation called Nigeria will disintegrate in a similar manner to how Yugoslavia did, many Nigerian intellectuals dismissed it but with tacit concerns. They and many more were far more certain of the, reality or illusion, that Nigeria’s oil wealth would hold the nation together with firm unity regardless of the internal strife, differences and cleavages encountered between various “interest groups” and “ethnic groups” as predicted most notably by Claude Ake. However, Ake did imply that the end of oil may be the end of Nigeria. With major changes in the international oil market are both Goldsmith and Ake correct in their predictions?

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Privatise the Government of Nigeria!

Privatise the Government of Nigeria (GON)!

It is amazing to hear that the Nigerian National Petroleum Corporation’s refineries are to be sold. Why? Because of inefficiency and under-performance problems if a self-set 30-day government ultimatum fails. This is the same NNPC that is supposed to be the only concrete evidence that President Muhammadu Buhari is doing a good job. Bianimikaley! (more…)

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A Response to “Our Lands Must Bleed No More”

http://nnimmo.blogspot.co.uk/2014/10/our-lands-must-bleed-no-more.html

Our Lands Must Bleed No More is an activist’s plea and determination to end the cumulative and inimical genocide of people of the Niger Delta in the name of “oil extraction” and “national income”. Nnimmo Bassey’s essay is a worthy effort in the remembrance of the “Umuechem Massacre” of the Etche people in Rivers State, Nigeria on the 31st October 1990. (more…)

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End of Oil, Beginning of Prosperity Nigeria 2

End of Oil, Beginning of Prosperity Nigeria 2

On the issue of policies, Nigeria’s problem is in truth not just policies and national planning solutions for the economy. Even if it witnesses continuous oil production or the ‘end of oil.’ That is far too easy. One can make a list of credible sounding policies or right solutions for the Nigerian economy. Their usefulness will on who the problem solver. Perhaps he or she, an economist, is a die-hard free-market advocate. Or a supporter of strong government intervention. Even a two-handed economist (who will favour any policy selectively despite his preferences). Now comes the question most avoid. Who will implement the the policies? From my academic research experience, Nigeria scores 9/10 for resistance to policy introductions, especially when they disrupt the status quo of the Owners of Nigeria Technostructure. That is a colossal problem.

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