The Economy

How a US decision to allow oil exports could change the world’s energy balance

The Obama Administration has taken a bold step toward loosening the grip of tense geopolitics on oil prices, reports the Wall Street Journal (paywall), giving the first permission in four decades for the export of unrefined American oil. The decision—not
LNG: The Long, Strategic Play for Europe

Liquefied natural gas (LNG) to Europe isn't a get-rich-quick scenario for the impatient investor: It's a long, strategic play for the sophisticated investor who can handle no small amount of politics and geopolitics along the way. When it comes to Europe,
Any Paradign Shift in the Communication Strategy of the New CBN Governor?

The appointment of Mr. Godwin Emefiele makes him the 11th Governor of the Central Bank of Nigeria, having resumed office on June 3rd 2014. He has indicated clearly that he wants to create a central bank that is professional, apolitical and people-
Exxon, BP Defy White House; Extend Partnership with Russia

Several of the largest oil companies in the world are doubling down in Russia despite moves by the West to isolate Russia and its economy. ExxonMobil and BP separately signed agreements with Rosneft – Russia's state-owned oil company – to extend and deepe
China's Oil Giant At Center Of Corruption Probe

Grins were on the faces of China National Petroleum executives this week as they celebrated a blockbuster 30-year deal for Russian gas. It was a good day for CNPC, the state-owned colossus at the center of China's oil and gas webs and one of Eurasia's big
Rivals Russia and China unite to end America’s Unipolarity

Rivals Russia and China unite to end ‘The American Century’: An altered geopolitical landscape for emerging and frontier markets focused multinational companies and investors.
The US Economy Is A House Of Cards

The US economy is a house of cards. Every aspect of it is fraudulent, and the illusion of recovery is created with fraudulent statistics.
#WEFAfrica: President Jonathan's Remarks at the WEFA Opening Plenary Session, May 8, 2014

As this is the first plenary session of this Conference, let me use this opportunity to welcome you all to Abuja for this gathering of the World Economic Forum. Nigeria is proud to host this event, the first time the Forum is coming to West Africa. We wi
The poorest rich country around

On 7 April, Nigeria’s GDP ballooned by 89 percent to a new estimate of $509.9bn after the country rebased its economy for the first time in 24 years. The new number makes Nigeria largest economy in Africa, and the 26th largest in the world.
Illegal gains, tax evasion, and gross income under the Nigerian tax laws

Tax administration is essential part of governance and would be a veritable weapon in curbing corruption and promoting transparency in business dealings in Nigeria, particularly when the tax evasion rules are effectively implemented to regulate and discou
Cement market, construction investments growing rapidly in Nigeria

A favourable macroeconomic outlook – aided by a growing population, infrastructure investments and rising consumption – is driving the expansion of Nigeria’s cement market, with a number of large investments in capacity in the offing.
Risk Management and Insurance Legislations

The most common medium for undertaking a commercial enterprise is through the registration of a limited liability company,which is also known as acorporation in some jurisdictions.
Lies, damn lies and GDP

In this Tuesday 20 November 2012 article, Professor Morten Jerven for African Arguments, part of the Guardian Africa Network laid the ground work for further reading on African GDP calculations Or, how Ghana went from being one of the poorest countries in
It's the Policies and Policy Makers that Create Nigeria's Problems

�Grow fast�, �be more comfortable� and �crash spectacularly�: A Case for Innovative Policies to Manage the Downside Risks of Financial Integration in Emerging Markets and Developing Economies
Steadying the Ship in Stormy Waters: Leading in a Dynamic World

I consider it an honour and privilege to have been invited to address this Eleventh Session of your Leadership Qualities and Entrepreneurial Development Programme (LQED). I recall that a few years ago I was invited to speak at your annual congress in Abuj
The Incredible Shrinking Management Fee

Professional portfolio management has long cost too much. If a new company has its way, it could be free.
Africa’s elite leap up the global billionaire rankings

Forbes publishes its Billionaire rankings today, tracking the trials and tribulations of the world’s richest – the 1 percent of the 1 percent, if you like.
FX Traders Facing Extinction as Computers Replace Humans

A widening probe of the foreign-exchange market is roiling an industry already under pressure to reduce costs as computer platforms displace human traders.
President Jonathan's Remarks at the Official Launch of NIRP & NEDEP Today

It is with great pleasure that I welcome you all to the formal launching of The Nigeria Industrial Revolution Plan (NIRP), our flagship programme to industrialize Nigeria; and The National Enterprise Development Programme (NEDEP), our new strategic platfo
The Golden Age of Gas, Possibly: Interview with the IEA

The potential for a golden age of gas comes along with a big “if” regarding environmental and social impact. The International Energy Agency (IEA)—the “global energy authority”--believes that this age of gas can be golden, and that unconventional gas can
The MPC’s Effect On The Domestic Balloon

At its first meeting this year, held Monday last week in Abuja, the Central Bank of Nigeria's rate-setting committee (the Monetary Policy Committee MPC) opted to tighten monetary policy.
Africapitalism: Towards Africa's future economic development

Africapitalism is socially responsible business, not charity or aid, led by Africans, for the good of the continent. It is a platform which seeks to propel the continent from its position of relative stagnation to a future of sustainable dynamism and prog
Mortgage-Backed Securities – Quick Aide

Mortgage-backed securities (MBS) are debt obligations that represent claims to the cash flows from pools of mortgage loans, most commonly on residential property.
Politics and markets: Less systemic, more specific

Markets interest in politics in 2014 is, I believe, likely to be rooted principally in country-specific rather than systemic risk, in particular
Violence Threatens to Thwart Iraqi Oil Resurgence

A wave of violence has swept parts of Iraq at the start of 2014 as the central government fights back against Al-Qaeda aligned militants in Anbar Province. The Islamic State of Iraq and the Levant (ISIL) reportedly took control of Ramadi and Fallujah, bom
Multinationals carving up Africa for food

A gold rush is happening in Ethiopia, but it's not a hunt for the yellow metal. It's a quest for the green gold of fertile farmland.
Russia to Lend Ukraine $15 Billion and Cut Gas Prices

MOSCOW—Russia agreed Tuesday to lend Ukraine $15 billion and cut prices for natural gas, striking a deal to bail out its crisis-stricken neighbor to stave off possible economic collapse amid large-scale protests in Kiev over the rejection of a trade deal
Affluenza, not Impunity afflicts Nigerian Elites

Word for today is 'AFFLUENZA' - a social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses" (source – Investopedia) In effect, it is the best of the latest excuse for the wealthy to do whatever they want! Yo
Next CBN Gov - Following the Global Trend of Meritocracy or Maintaining Status Quo

Daniels Adeoye, CBN, Global Trend, Central Bank Governor of Nigeria, Governor, Mallam Sanusi Lamido Sanusi, financial pinnacle, economy, kitchen cabinet, global financial, International Monetary Fund, IMF, United States, America, Janet Yellen, California
What causes a currency crisis?

A currency crisis is induced by a decline in the value of a country's currency. This decline in value negatively affects an economy by creating instabilities in exchange rates, meaning that one unit of the currency no longer buys as much as it used to in
Making Sense of the New Automotive Policy

The recent announcement of a new automotive policy by the Minister of Trade and Investments, Dr. Olusegun Aganga, has been met with a lot of excitement. The stated objectives of the new policy are to encourage local manufacturing of vehicles and to enfo
Combating Energy Poverty in Sub-Saharan Africa

With its high poverty levels and low degree of industrialization, Africa arguably faces the largest development gap of any region. Beyond the usual misery indices and welfare evaluation metrics, we have fundamental challenges that impede meaningful sustai
Washington Is Writing Our Investing Playbook, So Let's Follow It

Global trade has an enormous influence on the financial markets and worldwide economy.
Nigeria’s Big Gamble on One Indigenous Entrepreneur

Aliko Dangote, Africa’s wealthiest man, recently signed a multi-billion dollar contract to build Nigeria’s largest oil refinery, and turn the oil-rich country into a petroleum exporter. The promise of job creation — the refinery project is expected to emp
India's Energy Ties with Iran Unsettle Washington

India's relentless search for hydrocarbons to fuel its booming economy has managed the rather neat diplomatic trick of annoying Washington, delighting Tehran and intriguing Baghdad, all the while leaving the Indian Treasury fretting about how to pay for i
Africa Must Get Real about Chinese Ties

Nigeria, a country with a large domestic market of more than 160m people, spends huge resources importing consumer goods from China that should be produced locally. We buy textiles, fabric, leather goods, tomato paste, starch, furniture, electronics, buil
FOMC Minutes Signal End of Bond Bubble

Last week the market's celebration surrounding the partial Fiscal Cliff agreement was cut short by a surprise from the minutes of the Fed's December meeting. You see most had expected the minutes to be a relative non-event
Nigeria's Education Conundrum

According to the United Kingdom�s Higher Education Statistics Agency (HESA), Nigeria was the third non-European Union country sending the highest number of students to the United Kingdom in recent time. In 2009/10, it had 16,680 students in UK High
Not so Solid BRICs: New Cornerstone for Global Growth?

The global economic landscape has evolved quite interestingly over the last decade with a paradigm shift the popular appreciation of the primary drivers of global growth. The introduction of the “BRIC” (Brazil, Russia, India and China) acronym in the ear
Economic Report - High interest rates; the impact on economic activities and growth - BGL

Monetary policy has been operated with a variety of objectives in mind over the years. However,