Economic analysis page

30/01/2021

Now Live on Space 90.1 FM With Dr. Tunde Hamzat || Saturday 30th January, 2021

15/10/2020

https://youtu.be/nPNNeLDz2As

The Youth and Adult of Ibadan Metropolis area gather at the state secretariat to rally together in one voice to END SARS.

09/07/2020

The failure of Nigeria....

The inability to use crude oil and gas fiscal revenues to eradicate extreme poverty

I mean, sell crude oil, use funds to fund education and Healthcare, create opportunities

How hard is it?

02/07/2020

Odinkalu to FG: You can't ask business owners not to increase prices when you've raised VAT | TheCable https://t.co/EvCmMdBoNN https://t.co/4ohv1iIqwl

Chidi Odinkalu, former chairman of the National Human Rights Commission (NHRC), says it is wrong for the federal government to direct business operators not to increase prices of goods and services despite an increase in value added tax (VAT).

30/06/2020

ONE is the worst number in business.

Never have:

-ONE key vendor;
-ONE marketing platform;
-ONE bank;
-ONE merchant account
-ONE of ANYTHING that you count on.

Because if something happens to that ONE, you're in trouble.

24/09/2019

In , businesses and households spend $12 billion a year on fuel for their generators. That's because the power grid only works for nine hours a day, according to one estimate.

22/09/2019

"Supply-side economics is a macroeconomic theory that argues economic growth can be most effectively created by lowering taxes and decreasing regulation."

"consumers will then benefit from a greater supply of goods and services at lower prices, and employment will increase."

20/09/2019

Another $2.5 billion loan from W’Bank that brings our debt burden to $83bn is a bad idea. NigeriaGov is mortgaging the future of our youth while lacking political will for structural reforms,such as removing petrol subsidy, that will yield internal revenue.

19/09/2019

EXPLAINER: How new CBN charges on bank withdrawals, deposits can affect you

September 19, 2019Bassey Udo and Oladeinde Olawoyin



On Tuesday, the Central Bank of Nigeria (CBN) announced new charges on cash deposits and withdrawals on individual and corporate bank accounts.

The bank said daily individual cumulative or single cash withdrawals in excess of N500,000 would attract a 3 per cent charge, while 2 per cent would be paid on deposits above the amount. For corporate bodies, the benchmark is N3 million — 3 per cent for deposit and 5 per cent for withdrawal.

It said the move would encourage Nigerians to handle less cash and instead embrace digital transactions.

The plan is not entirely new. It was first rolled out in 2012 but the charges were only applied to transactions in Lagos.

In 2013, the CBN extended the coverage areas to Abia, Anambra, Kano, Ogun and Rivers States, and Abuja.

In 2014, the bank said it was suspending a proposed nationwide implementation till 2015 to allow for more publicisation and deployment of the required infrastructure.

By April 2017, the bank suspended the policy “untill further notice.”

In its latest announcement on Tuesday, the director, Payments System Management Department at the CBN, Sam Okojere, said the charges will resume in Lagos, Ogun, Kano, Abia, Anambra, Rivers states and the Federal Capital Territory.

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A nationwide implementation will start on March 31, 2020.

What this means

The charges do not apply on the first N500,000 for individuals and N3 million for corporate bodies. They will apply on the excess amount.

For instance, if a bank user withdraws N1 million from his individual account, the new policy expects the user to pay N15,000 as a charge — being the 3 per cent on the extra N500,000. If the user lodges the same amount, the charge will be N10,000.

If a business pays N5 million cash into its company account, the charge will be N60,000 — being the 3 per cent of the extra N2 million. If it

16/09/2019

Most dangerous places to live, 2019.

1. Brazil
2. South Africa
3. Nigeria
4. Argentina
5. India
6. Peru
7. Kenya
8. Ukraine
9. Turkey
10. Colombia
11. Mexico
12. UK
13. Egypt
14. Philippines
15. Italy
16. US
17. Indonesia
18. Greece
19. Kuwait
20. Thailand

(InterNations)

13/09/2019

13/09/2019

The government should get out of Ajaokuta, sell the place and allow private sector capital and expertise restructure and own it.

If you want to make jollof rice and there is no rice the solution is not to keep boiling water without rice but to go and get rice.