Nigeria in social rot \u2013 It is better to die on your feet than to live on your knees<\/strong><\/p>\nThe JAMB saga of Mmesoma Ejikeme is not just an aberrational event but is reflective of a dysfunctional social system in Nigeria. An average of 18% of all WAEC and NECO candidates have their results cancelled or are disqualified for exam malpractices.\u00a0 This is higher than in most other counties.<\/p>\n
The fact that Mmesoma\u2019s result is a subject of national debate is symptomatic of a country in social failure and has put mediocrity above meritocracy. When you juxtapose the JAMB saga with the rash of the President’s economic policy announcements and investor endorsements certain questions come to mind.<\/p>\n
Is the social rot in Nigeria a major factor in causing its current state of economic decay? Is moral bankruptcy a standalone or independent variable from its economic woes? And is Nigeria facing a double whammy of being well advanced in the economic decay curve as well as being close to the biblical end times when nations shall rise against nations and men will be lovers of themselves?<\/p>\n
We ask these today because if the social dysfunctionality is so overwhelming, it will take more than policy pronouncements and soundbites to turn things around and achieve the desired positive economic outcomes.<\/p>\n
Well, new policies are positive & refreshing<\/strong><\/p>\nAfter an extended period of policy drifting, it was refreshing to hear a flurry of policy announcements from the Aso Rock villa and in some cases reversals (suspension of 5% VAT on data).\u00a0 Investors are cautiously impressed with some of the policy changes but want to see some follow-through.\u00a0 In this era of political uncertainty and election petitions, positive economic news is reinvigorating to investors.<\/p>\n
But risks persist<\/strong><\/p>\nIn spite of the policy dynamism, there are still some risks. The Naira has been oscillating around N800\/$, yet forex supply into the market is still in drips. Banks are still trying to game the market but are finally capitulating to market forces. Interest rates in the money markets are artificially depressed and we believe that the next round of adjustment will follow the appointment of a cabinet.<\/p>\n
In this edition of the LBS Breakfast Session, Bismarck Rewane & the FDC Think Tank analyse the broad implications of the new policies on your business, customers and strategy in both the short term and in 2024.<\/p>\n
Do enjoy your read!!![\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"
[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, Democracy on trial: One man, one vote or one Naira many votes? Whilst we are in a season…<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,13],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121051"}],"collection":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/comments?post=121051"}],"version-history":[{"count":3,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121051\/revisions"}],"predecessor-version":[{"id":121054,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121051\/revisions\/121054"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=121051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=121051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=121051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}