Who moved our cheese?

by Obodo Ejiro

Decline in oil price (and subsequently, government budgets) often predates economic decline in Nigeria. Proposed states and federal budgets for 2015 confirmed this position earlier this year.

In 2014, 33 of Nigeria’s 36 states budgeted higher than what they spent in 2013. But in 2015, only 9 states had higher budgets compared to what they spent in 2014. (Twenty-seven states budgeted considerably less than what they spent in 2014 for 2015.)

While state budgets rose by 13% in 2014, they dropped by 5.3% in 2015. The federal budget for 2015 rose by only 4.3% over what was spent in 2014, which amounted to a considerable drop compared to the 2013/2014 period.

Its back

A policy designed to develop local capacity in vehicle manufacturing impacts stakeholders differently, writes OBODO EJIRO.

“This government has made business bad for us,” says Billy Kanayo, a used-car dealer at the Berger area of Lagos State. “Tell me, where are the cars government claims are being assembled in Nigeria?”

“Does Olusegun Agangan, Minister of Trade and Investment, drive in such cars,” another dealer who pleaded anonymity asks, as he laments the impact of the new National Automotive Policy (NAP) of the Federal Government on his business.

Saturday, Saturday Medicine

by Obodo Ejiro

During the week, she works as a cashier at a new generation bank in Lagos while he works as a shopkeeper at a small shop in Abeokuta, but at weekends, they are classmates at the University of Lagos. This is how tertiary remedial or part-time programmes bring people together across Nigeria weekly.

Competitive analysis of the hair relaxer market

Demand side dynamics

The value and volume of hair relaxer purchased in Nigeria has declined considerably in the last one and half decade because of the growing popularity and acceptance of weaves. (Most females, especially those in the working class, say weaves last longer and are cheaper to maintain.)

Meet one of Nigeria’s thriving agro-prenures, Ahmed Alli

Below is an interview with an inspiring investor who has gone all the way to engage in a major agricultural investment. His results have been instructive.

Tell us about your small beginning?

Mayor farms began as a result of the need of the promoters to diversify their business interest. We therefore sought an industry where our impact will be most effective in meeting the critical needs of society. We settled for Agriculture, that was in mid 2011.

We commenced by visiting many poultry farms from where we were able to observe the positive practices and mistakes being made by those farms. From these observations, we were able to draw up our business plan, and we rolled out by nominating one of our directors, Mr. Ahmed Alli, to undergo a certificate course in poultry management and saddled him with the responsibility of fully managing the enterprise with support from the Board of Directors.

Nigeria’s economic outlook in 2015

By Ayo Teriba, Managing Director, Economic Associates

The year 2015 is likely to be a year of contrasts in which a difficult and uncertain start will most probably give way to a promising end, as renewed post-election economic reform efforts to address fiscal, structural, and financial challenges highlighted by low oil price and weak capital inflows on the eve of election will open up new growth and investment opportunities, thereby brightening the outlook.

Thus, while the twin external shocks on the eve of general elections had imposed short-term challenges and created significant uncertainties about the economic outlook in 2015, they have also beneficially elevated the place of economic and fiscal reforms in the pre-election conversation. A strong consensus for reforms has fortuitously been built among the populace that it makes sense to expect a high pace of reforms after the election. This will brighten the outlook for the second half of 2015 and beyond.

For The Undecided Voter: Determining the Lesser Of the Two Evils

by Ugochukwu Onuoha

There are 14 candidates vying for the post of president at Febuary 14th polls. On the surface it seems the electorates are spoilt for choice on who to elect as President, but upon critical analysis - separating the pretenders from the contenders - we are left with only two real options: PDP's incumbent President Goodluck Ebele Jonathan and the APC's candidate Major-General Mohammadu Buhari.