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Showing posts from July, 2016

The Economy and You: Tales of the Unexpected

By Prof. O Anya Introduction A cursory glance at the Nigerian print media as well as the social media paints a gloomy picture of the state of both the Nigerian society and economy. Apart from the insurgency in the North East and the upsurge in attacks on oil/gas installations in Niger Delta by the militants there is an explosive increase in such social maladies as mindless murders, kidnapping, rape, arson and the marauding Fulani herdsmen in the South and North Central geopolitical zones. It is as if Nigeria is on the verge of an undeclared war. These social maladies have been there over the last several years admittedly at a much lower intensity but now it is as if it has now reached an inexplicable crescendo. It is therefore not surprising that the economy is in dire straits. Naturally we are forced to ask why and particularly why at this point in time? The State of the Economy: 2014 vs 2016: If we cast our minds back as recently as 2014, there was literally an upbeat tone t...

RAW MATERIAL EXPORT OR VALUE ADDED PRODUCTS?

For the few countries I have visited in Africa and many more I have had to study, the problem remains the same: Inability of leadership to mobilize the people to WORK. Africans are idle. How can idle hands create wealth? The challenge in Africa is not corruption as many will want us to believe, nor is it lack material and human resources, neither is it about opportunities. The bottom line is about lack of creative thinking leadership. Currently, I am keenly following President Paul Kigame of Rwanda, a man clearly different in his thinking. Can he make a difference? Without doubt, if you talk to anyone with some basic education, there are common agreements that only value addition to raw materials creates wealth. So if you want a prosperous nation, then you must find ways to export value added products and services instead of exporting raw products. So why is Africa not doing just that? A very good question and I will try to answer that. First, it is in the world’s super econom...