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Myth of rising poverty in Africa

President Goodluck Jonathans chief economic adviser, Nwanze Okidegbe, late last year refuted a claim credited to the World Bank Country Director in Nigeria that 100 million Nigerians lived in extreme poverty. Okidegbe rightly described the proposition and its implication that impoverishment is deepening in Africas most populous nation as spurious and astonishing, write Tunde Obadina.

Finance is the most vital element in the allocation of scarce resources in a market economy where decisions on production and consumption are based on assessments of value., writes Tunde Obadina.

Fighting terrorism cost money

Much of the criticisms of the Nigerian security forces for failing to contain the Boko Haram insurgency misses the real dilemma facing the state in dealing with the rebellion, argues Tunde Obadina.

Poverty in Nigeria: The true Brunt

Nigeria is currently hobbled by macro-economic instability, inadequate infrastructure and vast poverty. This is despite the fact that the country is blessed with a whole lot of natural and human resources, writes Amilia Jiji Ugboma

In its Economic Development in Africa Report 2012 published recently, the United Nations Conference on Trade and Development (Unctad) focuses on the continent’s dependence on natural resources as drivers of economic growth. The agency noted that though Africa has experienced relatively fast growth since the start of the new millennium, the pace of the expansion is unsustainable.

The Money Illusion

African politicians and policymakers have probably been watching with a sense of schadenfreude the unfolding drama of the public debt dilemma facing governments in the West. Not too long ago western commentators were poking fun at African nations crippled by high debt burdens, while multilateral agencies were advising African leaders on the wisdom of financial prudence.

As Nigeria's economy continues to grow off the back of non-oil and gas resources and more money pours into the country, the demand for luxury is growing steadily and Africa's largest hospitality group is well placed to move into the country with deluxe African Pride Hotels.

Nigeria taking lead in African local debt

Nigeria looks set to overtake South Africa as the continent's biggest issuer of local government debt with a planned $650 million auction by one of its states in October, but sub-national bonds remain far off for much of Africa.

What’s driving Africa’s growth

The rate of return on foreign investment is higher in Africa than in any other developing region. Global executives and investors must pay heed

Africa: Resource rich, trade poor

Africa is on the brink of an era of unprecedented growth, but it is still hampered by “woeful” progress on trade reform and broken promises by the world’s wealthiest countries, an international commission has concluded.

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