This book offers a comprehensive, research-driven analysis of the persistent economic underdevelopment in Africa, with Nigeria as a central case study. It argues that Nigeria’s failure to achieve sustained growth stems from weak social institutions, corrupt governance, and mismanagement of resources—issues common across the continent, though shaped by local contexts. The book contrasts these challenges with successful development strategies in Southeast Asia, emphasizing the importance of foundational institutions. Early chapters trace Nigeria’s institutional decline since independence, highlighting systemic barriers to progress despite abundant natural and human resources. Later sections critique widely accepted growth models—especially the overreliance on foreign direct investment—as…
Author: CASADE
Eweche Ajefu Nigeria would soon witness high speed Internet connectivity like never before as Casade Defence Systems, a Nigeria firm and Viettel High Technology, a Vietnam Company have entered into a ground-breaking partnership to introduce Viettel 5G Private Network in the Country. Speaking to newsmen in Abuja after the signing ceremony of the partnership in Vietnam, President of the Casade Defence Systems, Professor John Ifediora noted that the Viettel 5G Private Network has a powerful presence in Vietnam and other Southeast Asian countries, adding that the cutting-edge technology is set to go global, with a special focus on Africa where…
John O. Ifediora @ifediora_john All political dynasties eventually fail, but their demise come much quicker if the reasons for their being are no longer in consonant with extant social sensibilities of the electorate. The histories of nation-states are replete with the natural death of moribund political institutions too feckless and spent to serve the needs of a progressively sophisticated citizenry. The two major parties in Nigeria, APC and PDP, a political duopoly that interchangeably misruled the affairs of Nigerians beginning in 1999, are now forced to take stock of what they have done to and for the country, but more…
John O. Ifediora As Nigerians head to the polls to elect a new president in February, the most populous country in Africa that sheperds the continent’s largest economy would once again have the opportunity to grapple with a vexing man-inspired and socially debilitating problem that continues to burdened half of its population….the anachronistic practice of polygamy. Nigeria, with its variety of social and economic problems aside, still wields substantial influence on the continent and if it decides to make equality of the sexes a public policy priority through its choice of governance, a latent powerful economic transformation atrophied in the…
Every day, thousands of rangers patrol national parks and other protected areas in Africa. Their job is fraught with danger, both from hostile humans armed with automatic weapons and from the unappreciative and potentially aggressive wildlife, armed with tusks, teeth and claws, which they are helping to preserve. But their work is important, not least because the data they collect are crucial to conservation planning. That is particularly true of data on poaching, which remains, in both senses of the word, an elephantine problem. Since 2006 African elephant populations have declined by around 30%. In 2021, according to Monitoring the…
IN NOVEMBER 2022, Cyril Ramaphosa was on a state visit to Britain, beaming under the chandeliers of Buckingham Palace. South Africa’s president was in a buoyant mood. He was being wooed abroad. At home he was the clear favourite to retain the presidency of the ruling African National Congress (ANC) at the party’s national conference beginning on December 16th—and thus, in all probability, leadership of the country for the rest of the decade. Mr Ramaphosa’s political fate now hangs in the balance. On November 30th an independent panel appointed by the speaker of South Africa’s parliament said that mps could begin impeachment…
Ken ofori-atta, Ghana’s finance minister, is fond of invoking scripture in speeches on the economy. Recently, as the country defaulted on its domestic debt, he found solace in the first book of Samuel saying “nothing will be lost, nothing will be missing.” Yet the Bible is a poor guide to macroeconomics. Holders of domestic bonds stand to lose a good chunk of money. Now foreign creditors are getting a buzz cut, too. On December 19th Ghana suspended interest payments to foreign creditors, in effect defaulting, pending talks. It has also appealed to the high priests of economic orthodoxy, agreeing to…
John Ifediora. Editorial Commentary. The fight against corruption is always a difficult one, especially when conducted against individuals and corporations with substantial resources to protect their interests. But the fight must go on; defeats and setbacks are inevitable as long as the effort remains steadfast, unwavering, and sustained by governments who adhere to rules of law and good governance. The recent setback to Nigeria’s anti-corruption battle against JP Morgan Chase should serve as a clear reminder that governments in Africa and their justice minsters must come prepared and ready when taking on adversaries with deep financial resources to fend-off legitimate…
Courtesy of Independent. President Joe Biden issued a memo Thursday instructing the federal government to elevate anti-corruption measures as a central U.S. foreign policy and national security issue. A report expected in about six months from an interagency review will recommend ways to strengthen corruption-fighting efforts. Biden’s memo directs agencies to identify how they can improve intelligence-gathering and combat illicit financial activities. It reaffirms Washington s commitment to sanction or pursue legal action against those involved in corruption, instructs agencies to work with international organizations to tackle the problem and emphasizes enforcement measures in foreign assistance programs. The memo is aimed at delivering on…
The systematic looting of African economies by Africans is not news. While it remains the primary source of the continent’s perennial economic woes and has caused millions of premature deaths, the West’s sanctions against Russian kleptocrats have renewed interest on how to effectively return stolen assets to African countries. The United Kingdom and the United States have been very helpful in this effort in recent years but more needs to be done through asset forfeiture programs and prosecution to discourage Africans from despoiling their respective economies. The article by Thorsten Benner and Ricardo Soares de Oliveira highlights and recounts this…