Opinion

It is unclear whether current widespread product shortages are merely a temporary disruption or evidence of a global production meltdown. But today’s supply shocks offer striking parallels with the 2008 global financial crisis, and may require a similarly bold policy response. In the period leading up to the 2008 global financial crisis, a few prescient voices warned of potentially catastrophic systemic instability. In a famous 2005 speech, Raghuram G. Rajan explicitly cautioned that although structural and technological changes meant that the financial system was theoretically diversifying risk better than ever before, it might in practice be concentrating risk. At the…
Thursday, 04 November 2021 05:47

Forward never, backward ever - Bola Bolawole

Bad news this week was the collapse in Lagos of a skyscraper under construction and the casualties are still being counted. From the news unearthed so far, negligence of the authorities and the greed, impunity and audacity of the developer cannot be ruled out as the causes of the disaster. If the authorities approved only 15 floors, how come no one intervened to stop the developer when his aircraft began to overshoot the tarmac? Or when the structural engineers withdrew with damning condemnations of the integrity of the structure under construction, why was nothing done to prevent a disaster waiting…
I was concerned when not allowed to use the Ikoyi link bridge after closing hours on November 1, 2021. On further enquiry, I realized it was as a result of the collapse of a building under construction at 44 Gerald Road, Ikoyi Lagos. Having been the CFO of the Real Estate firm that built the first high rise on the Lekki corridor over a decade ago, I have a fair idea of people who must be counting their losses now and that’s why I am not comfortable with introducing politics to this unfortunate situation which has exposed the leprous nudity…
Dire warnings of the end of the world are as old as civilization itself. But each year as the countdown to United Nations Climate Change Conference (COP) begins, they grow in volume and intensity. Recently, senior United Nations officials raised the alarm of "world conflict and chaos" and mass migrations and institutional collapse should greenhouse gas emissions remain unchecked for much longer. Mankind has a duty to act on these dangers. But because of their seriousness we must not do so rashly. It is an inconvenient truth, but energy solutions proposed by those most eager to address the climate crisis…
An indication was given, most recently by the President of ASUU (as reported in the mass media), that the FGN indicated its desire to launch a loan scheme for students of higher educational institutions in the country; such that they'll be able to afford a new regime of tuition fees, which their schools may begin to charge. Both loan, and tuition fees were to be in the range of one million Naira. It was further reported that the ASUU leadership promptly rejected this proposal, which obviously, it considered elitist and not in sync with the Union's ideological predilections. Unfortunately, there…
For decades, spectacularly inaccurate forecasts have underestimated the potential of clean energy, buying time for the fossil-fuel industry. But as two new analyses from authoritative institutions show, renewables have already convinced the market and are now poised for exponential growth. For decades, we at the Rocky Mountain Institute (now RMI) have argued that the transition to clean energy will cost less and proceed faster than governments, firms, and many analysts expect. In recent years, this outlook has been fully vindicated: costs of renewables have consistently fallen faster than expected, while deployment has proceeded more rapidly than predicted, thereby reducing costs…
When the news hit the airwaves that the federal government had budgeted N6.3 billion to build an airport at Wachakal, in Yobe State, 130 kilometres from Damaturu, the state capital, not a few people were taken by surprise. This is because there is already an international cargo airport, which can serve as a normal airport as well, being built in the state capital. In 2017, the then governor, Ibrahim Geidam, had awarded the contract for its building at the cost of N11.3 billion with the promise that the contractors would complete it by the end of his tenure, which ended…
As the northern winter draws closer, surging fossil-fuel prices have left many consumers worried. But there may be a silver lining in the form of more aggressive US efforts to tackle climate change – provided the political will for such measures exists. Prices of fossil fuels increased sharply in October. European prices for natural gas hit a record peak. Prices for thermal coal in China have also reached all-time highs. The price of US crude oil is above $80 a barrel, its highest level in seven years, prompting US President Joe Biden’s administration in August to call on OPEC and…
A photograph forcefully elbowed itself into the media space during the week that just ended. It was that of President Muhammadu Buhari looking heavenwards, his two hands spread in total supplication to God, his countenance sober. He had arrived the Islamic holy city of Makkah on Thursday to perform the Umrah (lesser Hajj). Makkah, which houses the Mosque of the Holy Prophet Muhammed, is regarded in Islam as the second holiest mosque in the world. According to the president’s Media Man Friday, Garba Shehu, Buhari reportedly spent quality time embroiled in the rituals of fervently praying to God for “return…
Behold, I will do a new thing; now it shall spring forth; shall ye not know it? I will even make a way in the wilderness, and rivers in the desert ~ Isaiah 43:19. Introduction: God always craves for His people to enjoy an ever increasing dimension of His goodness in their supernatural experiences with Him (Galatians 6:15). He is ever eager to do new things in their lives (Proverbs 4:18). In this regard, I intuitively sense that a remarkable time is here, and new things are gathering momentum in the spiritual horizon right now, especially for God’s people who…
November 25, 2024

From zero to $10 billion annual transactions: How Jiji became one of Nigeria’s e-commerce leaders

When Jiji launched in 2014, it entered a competitive e-commerce market in Nigeria, joining the…
November 24, 2024

PDP governors urge Tinubu to review economic policies amid rising hardship

Governors elected on the platform of the Peoples Democratic Party (PDP) have called on President…
November 24, 2024

Older adults opened up about things they ‘took for granted’ in their 20s and 30s

Last month, we wrote a post where older adults from the BuzzFeed Community shared things…
November 16, 2024

Influencer eats pig feed in extreme attempt to save money

Popular Douyin streamer Kong Yufeng recently sparked controversy in China by eating pig feed on…
November 22, 2024

FG excited as pro-Biafra agitator Simon Ekpa arrested in Finland on terrorism charges

Simon Ekpa, the controversial leader of the pro-Biafra faction Autopilot, was arrested by Finnish authorities…
November 25, 2024

Here’s the latest as Israel-Hamas war enters Day 416

Hezbollah rockets land near Tel Aviv after large Israeli strike on Beirut Lebanon's Hezbollah movement…
November 21, 2024

Nigeria comes top in instant payment system inclusivity index in Africa

Nigeria’s instant payment system is projected to advance to the maturity inclusion spectrum ahead of…
October 27, 2024

Nigeria awarded 3-0 win over Libya after airport fiasco

Nigeria have been awarded a 3-0 victory over Libya, and three vital points, from their…

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