With crude oil still trading at over $100/bbl, there is no gainsaying that the Nigerian government is clearly in a lavish mood. This probably explains why the government reneged on its commitment to put a stop to PMS subsidy and is poised to raise ₦4trn to fund petrol subsidies in 2022. Policy moves like this…
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Oil prices are on a tear, along with everything else in this inflationary period. Players in the global oil market are spooked by supply-related constraints, and their continued panic has seen oil prices climb by no less than 20% YTD. While Western oil companies are drilling fewer wells post-pandemic – partly due to pressure from…
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Globally, climatic shocks have become more frequent and intense. Many people still think of climate change as a future phenomenon, probably because climate change-related projections are tied to future dates: 2030, 2050, or 2100, for instance. But we are, unfortunately, experiencing climate change, and have done so for some time now. Over the past century,…
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2022 is the year many had projected that the world economy will fully recover from the pandemic. Not until Omicron struck, dampening the upbeat recovery mood. With the worst of the pandemic behind us and the risk of multiple waves and mutants ahead, economic expectations are being dimmed, the most recent being the International monetary…
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As the economic consequences of the pandemic continues to dissipate and the global recovery progresses further, economic policymakers are now faced with the herculean task of taming inflation amid the fragile global recovery. With the risk of a rates lift off looming larger in 2022, a number of themes are expected to dominate the macroeconomy.…
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Angela Merkel’s sixteen-year hold of Europe’s largest economy ended earlier this month, as she handed over the helm of Germany’s affairs to Olaf Scholz, her four-year finance minister, vice-chancellor, and an ardent social democrat. Scholz, who narrowly edged out other candidates in the race to fill Merkel’s huge shoes in the September elections, has taken…
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A new strain of the coronavirus bursting in to disrupt end-of-year programs was not the only surprise the end of the year had, for financial markets at least. Central Banks in major economies; the US Federal Reserve, European Central Bank (ECB), and Bank of England (BoE), had a gift for the market – the earlier-than-expected…
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Most technology-based products are founded on the idea of addressing pain points through solutions infused with ease, speed, and simplicity. Generally, ideas with these three features disrupt an industry legacy business model. When credit providers carved their niche in the fintech space, they capitalized on these principles – providing loans to virtually anyone, anywhere, and…
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The average African feels entitled to subsidies. Due to prevailing poverty, subsidies are perceived to be a necessity because of the wide gap between the market-determined price of goods and services and the financial strength of the wider population. From agriculture subsidies in Kenya and Malawi, to transport subsidies in South Africa, and fuel subsidies…
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When the cryptocurrency craze hit the world, currency regulators – Central Banks around the world – feared that their worst fears had been actualized. A currency they had no control over had been created, giving people an alternative to fiat currencies. As cryptocurrencies gained increasing popularity in countries around the world, especially populous ones like…
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