Ghana’s decision to implement a visa-free policy for African travelers aligns with a growing continental push for regional integration.
As hunger persists and Nigerians grapple with economic hardship, many individuals and business owners are entangled in the horrendous act of hoarding, fueling the inflation crisis in the country.
While the CAC advertises an accessible and affordable process, hidden costs and system inefficiencies paint a different picture.
It usually starts with an innocent effort to get out of a financial situation; but before they know it, young and not so young Nigerians find themselves neck-deep in unexpected debt due to inordinate interest rates and unrealistic timelines, which further send them deeper in more debt. Esther Kalu explores the precarious situation.
Economic reforms foisted by state governments affected economies across the continent.
PoS agents are not just a convenience in Nigeria; they are the backbone of financial access for the underbanked and the unbanked. In areas where bank branches are non-existent, these agents are the last lifeline for rural dwellers.
During inflationary surges, such as the one Nigeria currently endures, additional money in workers’ pockets often serves as a stopgap measure rather than a solution to underlying issues like food insecurity.
Professor Oluwatoyin Ogundipe, Vice-Chancellor of the University of Lagos, put it succinctly: “Nigerian universities need to focus on developing skills that are relevant to the modern job market.”
In this report, MANASSEH MBACHII, a fellow of the Liberalist Centre’s Journalism for Liberty Fellowship uncovers how traders in Benue State, Middle-Belt Nigeria are forced to pay taxes and levies yet they get no benefits from the government, as they still pay more to provide the same amenities for themselves.
Apart from the fact that for the past decade, multinational firms have either exited or signaled their intention to leave the country, Nobel Prize-winning economist Angus Deaton warns that such taxes often backfire, prompting the wealthy to hoard assets, evade taxes, or relocate to friendlier jurisdictions.
Over the past eight years, 39 African countries significantly improved in their visa openness scores, indicating substantial progress in facilitating easy travel among the affected nations.
Several African countries have a similar habit of protectionism, especially the act of restricting imports in favour of local products. But this is at the detriment of consumers who could have enjoyed lower prices of goods.
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Get new insights on pro-freedom issues and current events. Subscribe to ‘Letters of Reasoning’ for weekly expert commentary and fresh perspectives.
