When you think about booking a summer holiday, you might think of trips with partners, friends or family. The idea of going on holiday alone can be daunting, or even unappealing. It raises all kinds of questions – who will you talk to? Who will you eat with? Will you be safe? There has long […]
questionable policy and bad timing
The Central Bank of Nigeria launched new banknotes in November 2022. The new notes came into effect on 15 December 2022. The apex bank also capped withdrawal of the new banknotes at N100,000 (US$222 at the official exchange rate) per week for individuals, and N500,000 (US$1,111) for corporations. Reactions across Nigeria were swift and acerbic. […]
Nigeria’s new foreign exchange policy is good news
The Central Bank of Nigeria recently announced changes to the way the country’s foreign exchange market will work. Foreign currencies can now be bought and sold at rates determined by the market – not by the central bank. This signals the intention of the Bola Ahmed Tinubu administration to allow market forces to determine the […]
Americans are returning to the labor force at a quickening rate – do they just really need the work?
The U.S. economy surprised analysts by adding 467,000 jobs in January, overcoming omicron concerns and continuing a long streak of gains, the Bureau of Labor Statistics reported on Feb. 4, 2022. Yet at the same time, the unemployment rate ticked up a notch, from 3.9% to 4%. Confused? Shouldn’t a large increase in jobs drive […]
the current uncertainty could affect the economy for nearly two years
The recent dramatic events that led to the resignation of UK prime minister, Boris Johnson, on July 7 2022 raise the issue of how politics – and economic policy uncertainty more specifically – affects the UK economy. The answer, of course, is that it does, and sometimes for as much as two years. News of […]
Yes, the latest jobs data may look disappointing, but leisure and transportation sectors give reason for cheer
On first glance, October’s jobs report may not be anything to cheer about. Released on Oct. 8, 2021, it shows that just 194,000 jobs were added in the month – well short of the 400,000-plus figure that many economists had predicted. But when you delve deeper, the latest employment data shows encouraging signs for the […]
society expects men to be providers – new study explores this pressure
Suicide is a complex behaviour that is widely regarded as a significant public health issue across the globe. It is influenced by psychiatric, psychological, biological, social, cultural, economic and existential factors. In most countries, the rate of male suicides is between 3 and 7.5 times higher than that of females even though suicide ideation (thoughts) […]
Tinubu inherits Nigeria’s high debt – an economist analyses what this means for the country’s future
As the 16th president of Nigeria, Bola Ahmed Tinubu inherits an economy that is grappling with inflation, chronic unemployment, extreme poverty, crumbling infrastructure and insecurity. Nigeria’s debt profile stands out among these problems like a sore thumb. The country’s external debt stock – what it owes non-residents – was US$41.69 billion in 2022. Multilateral lenders […]
Nigeria’s economy in 2022: winners and losers
At the start of 2022, Nigerians hoped that, with less than two years to the end of President Muhammadu Buhari’s administration, the government would ramp up its efforts to reduce poverty and unemployment. In his 2022 new year message to Nigerians, Buhari was effusive about his intention to secure the country and address its socio-economic […]
The Federal Reserve held off hiking interest rates − it may still be too early to start popping the corks
Federal Reserve officials held interest rates steady at their monthly policy meeting on Sept. 20, 2023 – only the second time they have done so since embarking on a rate-raising campaign a year and a half ago. But it is what they hinted at rather than what they did that caught many economists’ attention: Fed […]