As Nigeria marks its 62nd independence anniversary, many will be checking to see if there is indeed any reason for celebrations. Reasons for pessimism are not hard to find. Major statistics for the economy, security and human development paint a picture of a country in despair. Time was when the naira, Nigeria’s currency, was stronger […]
How the tech giants are innovating to weather the looming downturn
Rising inflation and looming recessions are squeezing household finances, but businesses also worry about an economic downturn. This is not just because of higher bills, but also because consumers spend less and finance from banks and investors dries up when the economy worsens. Even strong industries such as technology feel these effects. With the Standard […]
rights and freedoms may be one reason
Nigeria has always managed to attract foreign direct investment despite its poor economic outlook. This is thanks to its oil reserves and the consumption potential of its large population. But these inflows of foreign investment have been in decline and now seem to have hit a halt. Over the past five years, foreign direct investment […]
Nigeria is producing less and less oil. Here’s why
Nigeria’s oil output was at the lowest since 1990 as its crude oil production fell below 1 million barrels per day (bpd) in August 2022. And data from the Organisation of the Petroleum Exporting Countries in early September showed that Angola and Libya have overtaken Nigeria as Africa’s highest crude oil producers. The Conversation Africa’s […]
What if carbon border taxes applied to all carbon – fossil fuels, too?
The European Union is embarking on an experiment that will expand its climate policies to imports for the first time. It’s called a carbon border adjustment, and it aims to level the playing field for the EU’s domestic producers by taxing energy-intensive imports like steel and cement that are high in greenhouse gas emissions but […]