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.
Geopolitics
Kyiv Independent: JD Vance opposes military aid, NATO membership for Ukraine. He’s now Trump’s VP pick
“I gotta be honest with you, I don’t really care what happens to Ukraine one way or the other,” Vance said just days before Russia launched its full-scale invasion. Read HERE Photo: Gage Skidmore/Creative Commons
EU politics
Bill Mitchell: Ex German Finance minister deliberately misses the point about the ECB
Once again the Germans are trying to assert their authority over the ECB and bully it into constraining the only policy intervention that is saving the eurosystem from collapse, by way of insolvency of several […]
Geopolitics
Ali Abunimah – Have the US and Israel misjudged Iran?
One week after the United States and Israel launched their war of aggression, Iranian President Masoud Pezeshkian delivered a message of defiance to the attackers and conciliation to Iran’s US-allied neighbors. “The idea that we […]
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