Oluwole Crowther

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Articles

Investments, exports to power Nigeria’s five-fold growth – W’Bank - Businessday NG

3 days ago | businessday.ng | Onyinye Nwachukwu |Hope Moses-Ashike |Godsgift Onyedinefu |Wasiu Alli |Oluwole Crowther

…Urges Nigeria to end electricity subsidy…Ways & means exposes FG’s real financing cost…Edun says there’s momentum to invest in NigeriaThe Nigerian economy will need to grow five times faster than its current rate to meet the $1 trillion-dollar target by 2030, according to the World Bank. But achieving this lofty ambition requires galvanising private sector investments and foreign direct investments (FDIs) as well as implementing an export-oriented growth strategy.
Lagos at stand still as FG begins repair work on Independence Bridge

1 month ago | businessday.ng | Chuka Uroko |Oluwole Crowther

It was a rude shock for Lagos residents Wednesday as the majority of them were caught in the paralysis that defined the bustling city after the two-day holiday. This followed the commencement of repair work on Independence Bridge, which started on Tuesday, April 1, 2025. The two-month repair work will last till the end of May 2025. The Federal government had earlier announced the closure to enable repair work on the Bridge which links Victoria Island to Marina on Lagos Island, and then Eko Bridge.
Lagos at standstill as Independence bridge repairs begin

1 month ago | businessday.ng | Chuka Uroko |Oluwole Crowther

Lagos, Nigeria’s commercial capital, was under lockdown by traffic Wednesday, a result of the shock closure of a critical bridge and an early-morning heavy downpour in the city. The very busy Victoria Island and Ikoyi were the worst-hit by the Independence bridge closure, with most streets witnessing bumper to bumper traffic and arriving at work has been a most harrowing experience for commuters.
Will Nigerians feel projected inflation drop in their pockets?

Jan 14, 2025 | businessday.ng | Oluwole Crowther

There has been a flurry of projections all pointing towards a decline in inflation this year but Nigerians are wondering if the slowdown will be a mere statistical decline or if it will lead to lower prices. Drawing on historical data, expert insights, and real-world examples, falling inflation indicates price stability but does not guarantee a return to previous price levels.
Nigeria's bustling tourism rides weak naira to lure global fans

Jan 9, 2025 | businessday.ng | Oluwole Crowther

The 2024 Detty December season once again cemented Nigeria’s place as a cultural and entertainment powerhouse. Yet, it also revealed an intriguing economic twist: a weakened naira turned Nigeria into an affordable luxury destination, attracting tourists from across the globe and diaspora Nigerians in droves. Consider the story of a young professional based in Switzerland who travelled to Nigeria for one reason: to see Burna Boy perform live.
Is Nigeria’s problem import addiction or low production?

Jan 7, 2025 | businessday.ng | Oluwole Crowther

Is Nigeria an import-loving or production-deficient economy? This thought-provoking question was raised in the latest edition of the Financial Derivatives Company (FDC) Prism report, published on 31 December 2024. While the issue of import restriction remains a popular first line of defence for policymakers, it has often been criticised as “a cure worse than the disease”—a strategy that fails to address Nigeria’s underlying production challenges.
States’ failure worsens Nigeria’s jobless crisis

Jan 6, 2025 | businessday.ng | Oluwole Crowther

State governments’ inability to create the environment for the private sector to create jobs is worsening the nation’s job outlook. In October 2024, the World Bank revealed that only 12.4 percent of Nigerians were primarily engaged in wage jobs. Despite this revelation, many state governors appear oblivious to this economic quagmire.
Is Nigeria’s problem import addiction or low production?

Jan 5, 2025 | businessday.ng | Oluwole Crowther

Is Nigeria an import-loving or production-deficient economy? This thought-provoking question was raised in the latest edition of the Financial Derivatives Company (FDC) Prism report, published on 31 December 2024. While the issue of import restriction remains a popular first line of defence for policymakers, it has often been criticised as “a cure worse than the disease”—a strategy that fails to address Nigeria’s underlying production challenges.
Why the Naira may be stronger than it seems

Dec 24, 2024 | businessday.ng | Oluwole Crowther

The Nigerian naira is undervalued against the US Dollar by a staggering 40.68 percent, according to a report by the Financial Derivatives Company (FDC). This conclusion stems from a detailed analysis using purchasing power parity (PPP) as a basis for comparison. To fully appreciate this claim, let us delve into the insights provided by Michael Todaro and Stephen Smith, two renowned development economists.
Is comparing Nigeria to developed economies justified?

Dec 15, 2024 | businessday.ng | Oluwole Crowther

On numerous occasions, Nigerians—including some politicians—have drawn comparisons between the cost of living in Nigeria and that in developed economies such as the United Kingdom and the United States. They often argue that Nigeria’s cost of living is comparatively lower.