Economy

By People& Politics Aliko Dangote’s activist stance on the need for lower interest rates to attract investments and create jobs is a rallying cry for urgent and pragmatic government intervention in Nigeria’s current dire economic situation. Although Dangote’s argument is rooted partly in Reaganomics – a supply-side theory favouring lower corporate taxes and interest rates, his youth unemployment prognosis meets the bull’s eye. Strangely, youth unemployment and widespread poverty, which has grown into a national crisis, continue to escape the priorities of the political elite. As Dangote alludes, a failure to address these critical macroeconomic conditions that stifle business growth,…

By REUBEN MUOKA In Nigeria, a young tech-savvy and upwardly mobile population is teeming, and exploring derivable benefits of digital technologies. They are propelled by rapidly expanding internet access and steady broadband penetration, currently about 43 per cent. Our digital economy is poised for significant growth, positively impacting various sectors and benefiting the nation through enhanced connectivity and digital skills. Digital transformation is happening globally at a record pace. During the Covid-19 pandemic, for example, remote work and virtual collaboration tools took centre stage; platforms such as Zoom, Microsoft Teams, and Google Meet became—and still are—essential for meetings, conferences and…

…And Why Policies That Unfairly Disadvantage The Naira Must End By SENATOR NED NWOKO The glaring income inequality between foreign workers and their Nigerian counterparts within companies operating in Nigeria is a deeply concerning practice that perpetuates historical injustices rooted in the colonial legacy. This practice exacerbates existing economic disparities and reinforces the master-servant dynamic that has plagued the region for centuries. Colonial Legacy and Economic Exploitation: Historically, income inequality in Africa, including Nigeria, has been entrenched since the colonial era. European settlers exploited the vast resources of the continent while systematically marginalizing and impoverishing indigenous populations. This exploitation was…