The writer has recently been to Nigeria. On the plane I boarded, half of the business class seats were occupied by foreigners (Caucasians). As these people may or may not be English, it begs the question, if they are English, why do they come to Nigeria? If you live in England, and you are Nigerian…
Nigeria Is Not An Oil Economy
Descriptions of Nigeria’s economy often include such phrases as ‘Africa’s largest oil producer’ and ‘the oil rich African nation’ but oil economies are typically characterised by low population densities and abundant oil resources. Saudi Arabia with 10 million barrels of oil per day and 30 million people, Kuwait with 2.7 million barrels of…
FG To Raise N480bn From Luxury Tax
The Federal Government is set to raise additional revenue of N480bn within the next three years from the implementation of the tax on luxury goods and other austerity measures recently announced by Ngozi Okonjo-Iweala, Minister of Finance. The minister had on November 16 announced the measures following the persistent drop in the price of crude…
