Obazee, FRC code and the GOs

Jim Obazee knows accounting like his palm.  His command of the subject gives him a measure of self-confidence that borders on arrogance. Accountants are trained to live with the slogan: “Don’t doubt, but verify”.  They do not trust anybody – not even the “men of God” who run the business centres with the toga of Pentecostal churches. As More...

by Muhammed Adamu | Published 17 mins ago
By Muhammed Adamu On Tuesday, January 10th, 2017

The many contradictions of 2017 Appropriation Bill

The 2017 Appropriation Bill is an unprecedented spending plan.  The federal government plans to spend N7.3 trillion in 2017.  Aside from the historic figure, the entire budget estimate is a monstrous caricature More...

By Muhammed Adamu On Tuesday, January 3rd, 2017

Naira’s crisis of confidence

The naira had its worst outing in 2016. In terms of its value against the U.S. dollar, it was Africa’s least performing currency in 2016.  On one frenzied day in December, the naira traded at N502 to the dollar More...

By Muhammed Adamu On Tuesday, December 27th, 2016

Jet A-1 woes

Wednesday, December 14, 2016 was one of the worst days to travel by air in Nigeria.  The perennial scarcity of aviation fuel which has crippled Nigeria’s aviation industry, reached its peak on that day.  Arik More...

By Muhammed Adamu On Tuesday, December 20th, 2016

“One-on-one” exchange rate to the rescue

Nigeria’s economy is something of an enigma.  It has presented a case study to the monetary and fiscal policy advisors in the International Monetary Fund (IMF) and the World Bank. Africa’s largest economy is More...

By Muhammed Adamu On Tuesday, December 13th, 2016

Power failure: Sack DisCos and GenCos

By November 1, 2016, power consumers had endured for three gruesome years the incompetence and poverty of the distribution companies (DisCos) and generating firms (GenCos) that rose from the ruins of the Power Holding More...

By Muhammed Adamu On Tuesday, December 6th, 2016

OPEC: Doing first things last

The Organisation of Petroleum Exporting Countries (OPEC) has shown the world that sometimes it pays to do first things last.  In 2008 when oil prices suddenly plummeted from an all-time high of $147 to $50 per More...

By Muhammed Adamu On Tuesday, November 29th, 2016

DisCos, NERC as merchants of bad news

Operators and regulator of Nigeria’s power industry are merchants of bad news.  They have a penchant for intimidating consumers with bad news.  Last week, they reeled out a catalogue of their unwanted wares More...

By Muhammed Adamu On Tuesday, November 22nd, 2016

Proposed national carrier: Matters arising

Nigeria’s aviation industry is neck-deep in financial turmoil.  The financial asphyxiation choking life out of the country’s airlines is worsened by the tumbling value of the naira and dearth of infrastructure More...

By Muhammed Adamu On Tuesday, November 15th, 2016

Legalising Niger Delta’s ‘illegal’ refineries

The cacophony of voices in the downstream sector of the oil industry over the sustainability of the pump price of petrol at N145 per litre is a clear indication that the invisible hand of the market forces of demand More...

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