Five years ago, economists prophesied a prosperous future for Nigeria, and the rest of the continent. Yet today, the country is facing what one leading Nigerian academic recently told me is its “biggest crisis since independence”. The devaluation of the Nigerian naira by 230% over the past year, along with a huge rise in inflation, has sparked an economic crisis unequalled in its modern history. With meat, eggs and milk now a luxury, there have been reports of people in the north of the country being forced to eat poor-grade rice usually used as fish food.
Finance
Reuters: U.S. Labor Secretary supports classifying gig workers as employees
Shares of gig economy groups dive on comments by US labour official Read here
Climate Crisis
DeStatis – Germany: Electricity production in the 1st half of 2022: coal-generated electricity up 17.2% on the same period a year earlier
Well done Bobby “Green Gas” Habeck and the German Greens. Nearly a third of the electricity produced in Germany comes from coal-fired power plants Many hours of sunshine result in considerably more solar electricity Electricity […]
Corruption
DeClassified UK: Israel lobby funded a quarter of British MPs
Some 180 of Britain’s 650 MPs in the last parliament accepted funding from pro-Israel lobby groups or individuals during their political career, Declassified can reveal. That includes 130 Conservative MPs, 41 Labour MPs and three […]
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