Author ~ Bekeme Masade In their famous book ‘Why Nations Fail’, Daron Acemoglu and James A. Robinson highlight the reason behind the economic woes of extractive or natural resources-based countries such as Nigeria, Venezuela, Peru and others, despite their remarkable history of huge revenue generation from crude oil and other mineral resources. They argue that…
read moreAuthor ~ Funmi Akindejoye There is a strong link between the health of a nation and the state of its environment. What this means is that in achieving the third goal of the United Nations Sustainable Development Goals (SDGs) – SDG3 - ‘Good health and wellbeing’, it is important to apply an all-inclusive approach that…
read moreAuthor ~ Bekeme Masade-Olowola 2014 saw the commencement of a steady decline in the value of the naira and the skyrocketing of the cost of goods. The Gross Domestic Product (GDP) prophets preached the gospel of emancipation from the hands of economic recession that besieged the nation since the first quarter 2016 and assured Nigerians…
read moreEver wondered why news about the positive growth of the Nigerian economy doesn’t positively affect you personally? Ever wondered why the common man finds it difficult to grasp the fact that although Nigeria has the largest economy by Gross Domestic Product (GDP) in Africa, it still doesn’t translate to improved quality of life for them?…
read moreAuthor ~ Bekeme Masade-Olowola When the Federal Government of Nigeria embarked on the Economic Reforms and Governance Project (ERGP) in conjunction with the World Bank in 2004, one of its objectives was: Effective Management of Cash Assets through the Implementation of Treasury Single Account (TSA). This is a crucial element of monetary and budget management.…
read moreLocal content defined A minimum level of local content is sometimes a requirement under trade laws when giving foreign companies the right to manufacture in a place. The Longman Business English Dictionary describes local content as when a foreign company makes products in a country, with the use of materials or parts that have been…
read moreAuthor ~ Bekeme Masade-Olowola The trend of sand dredging from Nigeria’s waterways has led to indiscriminate commercialisation of such activity by the ‘killers of the mother earth’ – unethical business men. In his 1968 classic, ‘Tragedy of the Commons’, Garrett Hardin illustrates why communities everywhere are headed for tragedy, saying “It's because freedom in the…
read moreAuthor ~ Ebuka Onunaiwu As human population and activities increase globally, the need for space also increases as most human population dwell on land and majority of our activities are carried out on land, too. Urbanisation, which is the conversion of land to uses associated with growing population and economy, has been recognised as having…
read moreAuthor ~ Bekeme Masade-Olowola Street hawking has been an economic lifeline for many people at the bottom of the economic pyramid in developing countries, prevalent within urban and suburban contexts. It has allowed poor, mostly uneducated, unskilled people, to make out a living with meager or no capital investment and without the expense of maintaining…
read moreAuthor ~ Esu Ukpongote At 18 years of age, Nigeria’s democracy is expected to be mature enough to produce sustainable leadership. Interestingly, some weeks ago, young Nigerians around the country went around the social cyberspace, posting placards and throwing hashtags in support of the #NotTooYoungToRun bill. The nation in recent times has seen a number…
read moreAuthor ~ Bekeme Masade-Olowola Taking a ‘peek’ into the history of Nigeria, one can be overcome with acute nostalgia for a country which had been largely sustained by agricultural and solid mineral extraction prior to the oil boom. Though richly bestowed with a minimum of 44 different types of mineral resources, predominantly untapped, Nigeria is yet…
read more“A business that makes nothing but money is a poor business” – Henry Ford. Globalisation and Increasing Mining Activities In recent times, globalisation, newer technology, connectivity and better education have all worked to increase the amount of business activities globally. These increasing activities have birthed mega corporations, increased working opportunities and improved economic capacity. Along…
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