Tag: economic dealings

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When Shell Companies, Bribes and Billion-Dollar Fantasies Meet Nigerian Bureaucracy: Lessons from P&ID (and a Cheer for Mambilla) by Lawson Akhigbe

In the grand theatre of Nigerian public life, where contracts are signed with the solemnity of wedding vows and then abandoned with the enthusiasm of a jilted lover, few dramas have rivalled the Federal Republic of Nigeria v Process & Industrial Developments Ltd saga. The 2020 English High Court decision ([2020] EWHC 2379 (Comm)) was merely the intermission. The full production, complete with bribes, perjury and a near-$11 billion bill, only reached its denouement years later. Yet that September 2020 judgment by Sir Ross Cranston remains the pivotal moment when Nigeria was allowed, against all the usual arbitration orthodoxy of finality and speed, to drag the whole rotten affair into the light.

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Kemi Badenoch and the economy: a plan stuck in the Tory comfort zone by The Guardian Editorial

To outlast a prime minister always counts as some kind of achievement for an opposition leader, although Kemi Badenoch cannot claim credit for Sir Keir Starmer’s downfall. Sir Keir’s wounds were mostly self-inflicted. To the extent that opposition pressure was involved, it was electoral threats from Reform UK and the Green party that stoked Labour party frustration to a regicidal pitch. The Tory leader’s role was largely as a spectator.

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Shares for the Many, Not the Few: What Dangote’s IPO Owes to Margaret Thatcher, and What It Might Teach Her Country by Lawson Akhigbe

The theory behind all of it, gas, telecoms, water, rail, was called popular capitalism, and it rested on a wager: that if enough ordinary Britons held shares directly, they would develop a stake, literal and psychological, in the fiscal health of the nation. Capitalism would stop being something done to people and start being something done by them.

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Austerity: Britain’s Longest-Running Political Fancy Dress by Lawson Akhigbe

There is an old British habit that refuses to die. When the public finances look awkward, someone reaches for the national costume box, pulls out the Union Jack, and declares that the only patriotic course is to ask the people with the least to tighten their belts a little more. The word of the hour is always “austerity.” The justification is always necessity. The result is almost always the same.

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The NGO Trap: How a $1 Trillion Industry Learned to Love African Poverty by Lawson Akhigbe

Somewhere in a glass-and-steel conference centre in Geneva, a distinguished panel is convening to discuss Africa's poverty crisis. The room costs £18,000 a day to hire. The keynote speaker flew business class from Washington. The catered lunch is exceptional. The conference proceedings will produce, in due course, a forty-seven page report recommending as the 1994 report did, as the 2003 report did, as the 2011 report did, more aid. Africa, meanwhile, remains poor.

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