In Thailand rice farmers were unhappy and vowed to vote against the ruling party in the recent elections because they felt their subsidies were too low. DoubleEph NigerianNews Rice Uber Gokada Abacha Buhari Abachaloot Lagos
In Thailand rice farmers were unhappy and vowed to vote against the ruling party in the recent elections because they felt their subsidies were too low. In India, the rice farmers were unhappy and vowed to vote against Narendra Modi in the recent elections because rice prices were too low.
No matter how good you are as a talent spotter, picking a cabinet to run a government is never going to be an exact science. Given that it all boils down to human beings, who can be incredibly inconsistent and disappointing, it is not impossible for someone to be a success on paper for a ministerial role and a failure in reality. It is for this reason that cabinet reshuffles were invented – to allow presidents or prime ministers to quickly correct errors.
Not too long ago, the Nigerian government somehow ran on $20/barrel oil. It wasn’t effective as that $20/barrel had to cover salaries, capital expenditure and of course corruption. But somehow today, Nigeria cannot seem to pay salaries alone with oil at $60/barrel. The cause of this is a variant of what Margaret Thatcher once called the ‘Ratchet Effect’ – when the state fails, it gets more power to ‘correct’ its failures. In March 2011, oil prices hit $100/barrel.
In the last one year, Lagos has witnessed an explosion in the number of companies offering ride-hailing services for bikes. That is, Uber, but for Okadas. A lot of foreign capital is pouring into these businesses and some reports suggest it could be a billion dollar business in a few short years.
For the past 21 years, Nigerians have been fed a steady diet of news about just how much money General Sani Abacha stashed away abroad as military leader. As recently as last week, another stash of £200m was found sitting somewhere in Europe. He is definitely not the only person who has robbed Nigeria in the recent past and hidden the loot in Europe. Many other looters have also been watching this 21 year movie along with the rest of the country.
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