Headlines from Nigeria
Date: 17/02/2009
Dr. Dele Cole, chairman of africapractice West Africa, has written for The Guardian newspaper, warning against the country’s unfounded optimism about the new US administration.
In ‘Jumping on the Obama bandwagon’ Dele Cole argues that we will see great change – for America. Obama’s vision is not aimed at Nigeria, and there are reasons to be wary – given his policies on the environment and his belief in social inclusion and anti-corruption.
In a second piece in the Guardian’s Outlook section, ‘What now for the Nigerian economy?’ looks at the main threats to the country from the global financial crisis. Dr Dele Cole considers the impact that the falling price of oil, the decrease in international credit lines and the losses on the Nigerian stock exchange.
The wider picture from the government and the budget conflict with what organisations like the IMF are saying about the country and Africa as a whole. This is a call to action for the Central Bank to look at protecting oil production as the backbone of the Nigerian economy, but also to diversify to protect the future economy.
Dr. Cole is Nigeria's former Ambassador to Brazil, and former Special Adviser, International Affairs to former President Olusegun Obasanjo.