Busayo Akanro - Light does not shine in light

Africa has been dubbed the untouched and virgin continent. This was due to the seeming unscathing of African countries in the global meltdown that characterised the latter part of 2008. African seems to have escaped almost wholly from the economic recession that hit the world and crushed many countries and multinationals in other continents of the world. Iceland is bankrupt, auto makers in the US are bankrupt; Mega Banks in UK, Japan, Switzerland, US, Belgium, Germany and many other countries of the world would have gone under but for aid from their governments. Albeit, many banks have still being crushed in the wake of the recession.

However, Nigeria for one has been touched by the recession. Even though the Governor, Central Bank of Nigeria has kept assuring Nigerians that we are beyond the reach of the economic whiplash swinging across the globe, happenings in our own economy are pointers to the fact that his assurances hold no water. Examples are: (more…)

Once upon a time, 10 virgins were chosen to meet the bridegroom at a certain marriage ceremony in Israel. For some unstated reason, the bridegroom didn’t seem to be arriving and the virgins started getting apprehensive. Actually, in the custom that existed in Israel, the bridegroom usually arrived late at night with his friends to take his bride. The bride usually has maids of honour or bride’s maids as the case may be who at the arrival of the bridegroom go out to meet him with their lamps in their hands to light his way into the house where his bride is. The key element of the bride’s maids is the lamp that provides light for the bridegroom and his envoy. (more…)

I am attending a meeting somewhere in Ilorin where one of my mentors, Fela Durotoye reiterated that Nigeria by 2025 will undoubtedly be the most desirable Nation to live in. As far reaching as this is, I am absolutely certain of its veracity, not only because he said God told him so but because I sense it in my innermost being. Events that will make this possible may not necessarily be progressive, they may be instantaneous. They may not necessarily be step-wise; they may well be revolutionary. While I’ll deign to bore you with what may bring or may not bring this word to pass on this great Nation, I’ll like you to consider the report released on the 16th of November, 2008 by Merrill Lynch - a foremost economic institution in the world. (more…)

This morning I heard a report on the news that the price of crude oil on the international market has dropped to below $50 per barrel. Ofcourse, this is a fall out of the recession that has been on going in the World now for several weeks. What is happening is that the order for crude oil has dropped desperately because many more countries, organisations and people around the world don’t have the extra to pay for crude oil derivatives. (gas, diesel etc.). Crude Oil price due to this situation has hit a 3yr low and could go lower. The fact that OPEC hasn’t sufficiently cut down on production to create scarcity in the market isn’t helping at all. (more…)