Nigeria

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  • Nigerian President Buhari's challenge is formidable.

    Can Nigerian President Buhari Live Up to the Election Hype?

    President Muhammadu Buhari and his party, the All Progressive Congress, rode to power on the promise to fight corruption, restructure the Nigerian economy, and reduce poverty.

    Riding on the slogan of “change,” and the perceived discipline and incorruptible disposition of Buhari, Nigerians believed that the messianic personality who will fight corruption, promote economic and infrastructural development, had indeed been found.

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  • Nigeria still swings with the volatility of oil prices.

    Should Nigeria have Solved their Oil Dependence Problem by Now?

    Ever since Nigeria started harvesting its petroleum endowment, its economy’s umbilical cord firmly ties to the volatility of this commodity’s price.

    About 65% to 70% of annual government expenditure comes from oil revenues and this demonstrably reflects this vulnerability. Historically, it has been as high as 90%. Every downturn in global oil prices has curiously hit Nigeria like a predictably repeated below-the-belt punch.

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  • Despite its lofty ambitions, Eko Atlantic may not be radical enough.

    Could Nigeria's Eko Atlantic Project Not Go Far Enough?

    The government of the state of Lagos – Nigeria’s former capital – has proudly proclaimed it is building a new city that will become the new financial centre of Nigeria, and perhaps West Africa. The scale of the Eko Atlantic project is immense and progress comes through a team effort between investors, planners, engineers, and contractors.

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  • Muhammadu Buhari takes the reins of a troubled Nigeria with great potential.

    The Prospect of a Prosperous Nigeria

    Nigeria’s huge economic potential is no dream. It will not materialize on its own. It requires determination. The Buhari era can make or break the path to the Nigerian dream.  When retired Muhammadu Buhari took over from Goodluck Jonathan, it marked the first peaceful transfer of power between rival parties in Nigeria.  Unlike most advanced nations and many emerging nations, Nigeria has extraordinary economic potential. However, even favourable demographics are of little value without productivity, growth, and jobs.

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  • Violent terrorism overshadows Nigeria's election.

    As National Challenges Persist, Nigeria Prepares to Vote (Part 2)

    Unlike before, Nigeria’s elections are overshadowed by violent terrorism. It reflects an economic, ethnic and religious divide. It can be overcome – not by further violence, but by policies that will eliminate its raison d’être.

    When Jim O’Neill and his colleagues at Goldman Sachs developed the basic BRICs criteria for rapidly growing large emerging economies, they concluded that a set of core factors – macroeconomic stability, institutional capacity, openness and education – could set the stage for growth.

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