Dreaming of Wakanda

  https://global.ariseplay.com/amg/www.thisdaylive.com/uploads/b62dcef5-pension-pix-2.jpg In the bustling streets of Lagos, the vibrant markets of Kano, the industrious areas of Onitsha and the rural villages that dot the Nigerian landscape, a dynamic economic force thrives, often overlooked yet undeniably influential. This is the informal sector. The Nigerian economy is characterized by a vibrant informal sector, which operates outside the formal regulatory framework. This sector is composed of small-scale, unregistered enterprises. The lady that sells roasted corn on the roadside or "mama put", the roadside mechanic, "mai shayi", and the street affiliate marketer aka "oso ahia", can all be classified as informal workers. Despite its undocumented nature, the informal sector plays a pivotal role in the economic development of Nigeria. It provides employment opportunities, generates income and fosters entrepreneurial spirit, thus making it an undeniably inf...

  In today's interconnected world, the concept of international trade is not new. Nations have been engaging in the exchange of goods and services for centuries. However, when it comes to trade within the African continent, there is still enormous untapped potential. Nigeria, with its population of over 211 million people and its booming economy, is the largest economy in Africa. It is also a major player in global trade. However, Nigeria's intra-African trade is still relatively low, accounting for only about 13% of its total exports in 2020. This is in contrast to other regions of the world, such as the European Union, where intra-regional trade accounts for over 70% of total exports. Nigeria, as the most populous and economically influential country in Africa, has a crucial role to play in leading the way in intra-African trade. There are a number of reasons why Nigeria must take the lead in intra-African trade. First, it is essential for the economic development of the enti...

  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...