Talking Economics and Politics

In the face of the COVID-19 pandemic that already has a huge toll on Nigeria and the economy, with over 1,270 cases, and 40 deaths according to the latest reports from Nigerian Centre for Disease Control; Kano state is now embattled with an additional threat to its public health by a disease that remains unknown but suspected to be meningitis. Kano state accommodates about  16 million people , that cover an area slightly over 20,000 kilometre square, and a population density of 470 persons per kilometer square. Interestingly, Kano has 5 research centres, but none is focused on public health. It is no surprise why the cause of the ravaging killer disease still remains unknown. Although, the Federal Ministry of Health has already begun investigation. It would be expected that governments across all tiers would see spending on public health services as an investment, and by that imperative, increase budgetary allocation to key aspects of the economy; rather than ...

I recently came across a post of a Nigerian lady being put up for "sale" on one of the social media platforms by some guy who provides homes with domestic workers in Lebanon. I find this very irritating and disturbing just like many Nigerians and Africans who did not hesitate to call out and publicly backlashed the so called individual. I am happy the fellow has been arrested by the Lebanese security agency, and hopefully he would face prosecution. Nonetheless, I still have some concerns. My worry is simple, and at the same time, pathetic. Data from the Lebanese government show that Lebanon has 250,000 immigrant domestic workers, and most of them are from sub Saharan Africa. In my curiosity, I got to find out that one Lebanese pound is equivalent to about 26 kobo (0.26 naira). This fact left me in bewilderment, as to why Africans would migrate to countries that are less economically viable and disadvantaged; and with poor working conditions compared to what is obtainab...

Photo credit: IndiaMart I hope the drastic fall in oil price would blackjack governments of oil producing countries like Nigeria and other oil monolithic economies to develop robust and effective structural policies that look beyond oil, on serious and practical terms.  The continuous downward pressure on crude oil price is simply a fallout from the delay of OPEC and OPEC+ to reach a common ground on production cut, in combination with the huge drop in demand for oil, both for commercial and household consumption. Worse enough, storage capacities for oil have already near their limit, which has caused oil producers to sell at a ridiculously low price. Worthy of mention is that, the oil market is inelastic in nature for both demand and supply sides - the damand and supply for oil is less responsive to variation in price. Oil rigs will continue to pump oil, regardless of the change in price. Many economists have described this, as "price inelastic supply". The si...