From Vanguard: Nigeria’s excess crude account has dropped from $20 billion (N3.004 trillion) at the beginning of the year to $11.2 billion (N1.646trn) in June. This implies that in the last six months, the various tiers of government in the federation have shared a total of $9bn (N1.323tr) from that account. This use of the… Read More »
Sometime ago I wrote a post about my efforts to understand the Nigerian oil industry. Some Next reporters have done an article on their efforts to understand the industry. Nobody seems to know how much Nigerian exports, or how much it makes from oil: Even a cursory check by NEXT has revealed that various agencies… Read More »
$140 per barrel is the appropriate price of crude oil – Rilwanu Lukman, Nigerian Petroleum Resources Minister. Hat-tip to Nigeria, What’s New?. Mr Obasanjo on Hardtalk. The disconnect of the Pope. Are we really in the age of mass intelligence? Individuals give NGOs more funds than donors. The Berlin wall came down 20 years ago… Read More »
At the urging of Oz of Mootbox, some months ago, I downloaded a podcast from the Cato Institute. While listening to the podcast I was almost screaming out at the suggestion of one of the panelists. Military strategist and historian Edward N. Luttwak suggested that African governments should be left to fail instead of being… Read More »
Ogho Okiti of BusinessDay has a nice analysis: How about another $5 billion for subsidy? Thanks to soaring crude oil prices, we are receiving significant amount of income from crude oil exports. Never mind that the government and the economy would have been in so much trouble by now, underlined by significant short fall in… Read More »