Minister of Finance and Coordinating Minister of the Economy, Wale Edun's April 3rd 2024 presentation at the Lagos Business School Breakfast Club titled 'Reconstructing the economy for growth, investment and climate resilience development' focused mainly on cost cutting through removal of subsidies, extreme high interest rates to curb inflation and attract foreign exchange, and agriculture, which don't address fundamentals of real economic growth. In terms of economic empowering infrastructure, the N15 trillion Coastal Highway also reveals a lot of economic misconceptions that need to be cleared. Though it is debatable whether subsidies and floating of Naira have really been stopped,…

When seeking empathy for their financial woes, most people know better than to talk to an economist. To understand how the field gained a reputation for not caring about social-justice issues requires tracing the origins of the intellectual paradigm that dominates academia economics and public policy today. In 1921, Maffeo Pantaleoni, widely recognized as one of the architects of today’s mainstream economic framework and a close collaborator of Italian economist and sociologist Vilfredo Pareto, expressed his disdain for the working class. “It is disgusting,” he wrote, “to witness the masses of workers that are drunk in all our cities.” The…

I never thought I could attend the Eid prayer held on 10th April, a day after I clocked the definitive age of 60: I have now joined the senior citizens' rank. Not being confident I could attend the Eid prayer seems an understatement; for actually, in February, the way I was feeling within me, it was looking to me that I would not witness Ramadan, not to talk of participating in the Eid marking its end. I easily get exhausted from the littlest of tasks, making me always gasping for air to fill my lungs. It reached a stage where…

Whether real or imagined, none of the metonyms for “Lagos boy” is complimentary. The “Lagos boy” moniker once came up in the late 1980s. Olabode George, then Military Governor of Ondo State, had just been removed from office after spending two years. The African Concord magazine then did a post-mortem of his turbulent rule. Newly purchased boats for the coastal part of the state were alleged to be second-hand. By then, for analysts writing about the George years, rigor-mortis hadn’t set on another uproarious component of his time in office. It was his wife, Feyi George’s “Queendom.” So she came…