Nigeria is officially in recession and when you ask the country’s policy makers: What is the cause of the recession? You may likely know the answer they will say even before I called them out on it. Without hesitation, they are quick to blame the falling oil price and its sequential problems. To many […]
IMF and Nigeria’s Naira: The Politics of Currency Devaluation
The value and worth of a currency is determined by the wealth of a nation. In this era of global capitalism, a wealth of nation goes beyond the conventional valuation based on the natural and human resources. A nation’s image, perception, security and stability also played an important role in the determination of a nation’s […]
Nigeria: Floated Naira projected to lose ‘70 percent’ value
The floated Nigeria’s naira that has been pegged at 197-199 to a dollar lost over 40 percent of its value on the first day of trading. Unofficial reordered statistics on first day of naira outing revealed that naira was traded as low as 265 to a dollar and at one point nosedived to 288 to […]
What Makes Handspun Yarn Special?
In today’s culture in which knitting has become immensely popular as a hobby and creative activity, the market for yarn has greatly expanded. Those that have moved beyond or have a preference for fiber hobbies other than knitting, such as felting, weaving and crochet, also drive the market for yarn. Despite the wide variety of […]
Resona Corporate Partners – Anglo American Posts $5.6 Billion Loss
Resona Corporate Partners: Mining giant plans more disposals after disastrous year as metals prices collapse. Anglo American, the mining giant that saw its share price plunge by 75% last year, has revealed a fourth year of losses in the wake of collapsing metal prices and crippling debt service costs. The London-based conglomerate with mines around […]
Nigeria: The woes of Naira devaluation and rising Inflation: Is Kemi Adeosun ready?
“The servicing and defense of the weakening naira with country’s accumulated foreign reserve is not sustainable with shrinking war chest.” – Emeka Chiakwelu, Policy Strategist at AFRIPOL The state and wellbeing of Nigeria’s economy is gradually but steadily losing its momentum and steam, while simultaneously taking its casualty. The first casualty is naira and […]
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