Dreaming of Wakanda

  https://cdn.punchng.com/wp-content/uploads/2023/10/06104612/Sukuk-road-1280x720-1.jpg Nigeria is a rapidly developing country with a population of over 200 million people. The country is blessed with abundant natural resources, but it also faces a number of challenges, including a significant infrastructure deficit. Infrastructure development is essential for economic growth and job creation. It helps to reduce the cost of doing business, improve the movement of goods and people, and attract foreign investment. It's the backbone of progress, connecting cities, empowering industries, and improving the lives of millions. Finding innovative solutions to bridge this gap is paramount. One such solution so far seems to be Sukuk financing. Sukuk is an Islamic financial instrument that is similar to a conventional bond. However, Sukuk investors are essentially financing the purchase of an asset, which is then leased back to the issuer and instead of paying interest, sukuk investors recei...

  Nigeria is Africa's largest economy and most populous country. It is also one of the most indebted countries in the world. In recent years, the country has faced a significant challenge in managing its debt situation. Nigeria's debt has grown over the years, driven by both external and domestic factors. External factors include fluctuations in global oil prices, which have a direct impact on its revenue generation due to its heavy reliance on oil exports. Domestic factors include fiscal deficits, inefficient public spending, and inadequate revenue diversification. According to figures from the Nigeria Debt Management Office ( DMO ), Nigeria's public debt stock stood at N87.36 trillion ($113.4 billion) as of June 30, 2023. This represents about 33% of the country's gross domestic product (GDP). While this debt-to-GDP ratio is relatively low compared to some other countries, it is still a significant burden for Nigeria, given its low level of income. In this article, we...

Data is the new oil. This phrase has become a cliché now but it goes without saying that data is the most valuable resource in the 21st century, and it is essential for economic growth and development. Nigeria is a data-rich country, but it is not yet harnessing its data potential to the fullest. What does that mean for the Nigerian economy? Well, put it this way, without having a thorough and objective understanding of the root causes of the socio-economic challenges that persist in the country, policies and strategic assessments will continue to be ineffective. Strategic decision making will continue to be biased and tinged with sentimentality.  In short, harnessing data effectively can help Nigeria to achieve its economic goals. Data can be used to improve decision-making, boost productivity, and create new jobs. It can also be used to improve the delivery of public services, reduce corruption, and make the economy more inclusive.  However, Nigeria also faces a number of ch...

  Nigeria, often called the "Giant of Africa," boasts a wealth of resources, a burgeoning youth population, and a vibrant culture. However, years of economic mismanagement has meant it has failed to fully achieve its potential. With a massive infrastructure deficit (approximately $3trn), underperforming real sector, seemingly insurmountable debt profile and strained fiscal position, the government alone cannot solve the array of economic issues plaguing the sleeping giant. However, according to a report by global consulting firm McKinsey & co. , Nigeria has the potential to be amongst the top 20 global economies with a size of over $1.6trn by the year 2030. One of the ways to achieve this is by Nigeria looking to its capital market - a powerful tool that can be utilized to propel the nation towards economic prosperity. This article will explore the economic importance of harnessing the capital market in Nigeria. It will delve into what the capital market is, its role in e...

Imagine a Nigeria where dreams are nurtured, businesses flourish, and innovation thrives - all made possible by a robust credit framework. Credit is the lifeblood of any free market economy, fostering investment, innovation, and entrepreneurship. It fuels the engine of growth, allowing individuals and businesses to take calculated risks, expand operations, and contribute to overall economic prosperity. A robust credit system not only enables access to capital but also empowers dreams, creating a positive ripple effect throughout the society. The credit system is like a financial bridge, connecting those who have excess capital with those who need it to invest, grow, and create opportunities. In Nigeria, however, this bridge has shown some cracks, affecting individuals, businesses, and the entire economy. The stark reality is that our credit system is marred by challenges that require collective wisdom and strategic action. This article aims to shed light on the current state of Nigeria...