Lagos, Nigeria

Tag: budget

Nigeria: Voraciously feeding the beast

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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Nigeria: Caught in a web

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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Budget 2021 – An expansionary wave

The COVID-19 pandemic that has persisted through the year, has raised the need to protect people, stabilize demand and stimulate recovery. The provision of emergency support has brought additional expenditure obligations, including emergency healthcare services, stimulus packages, payroll supports and rise in unemployment benefits. While advanced economies had automatic stabilizers to cushion the effect of…
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