Akpan Ekpo Blog articles

The Challenge of Diversifying Nigeria’s Economy

The Nigerian economy is an export and import-dependent economy that is at the periphery of the global capitalist system. The British colonialists, not desiring to settle ‘permanently’ in Nigeria, were, however, interested in exploiting the existing resources, providing the infrastructure for evacuating the resources like railways and training quality civil servants to facilitate the process

Tackling Africa’s Paradox of Growth Without Development

Before and after the global economic crisis, GEC, that was triggered by the collapse of the mortgage subsector in the United States in 2007/08, there was the general euphoria that African economies were able to withstand the crisis partly on account of better macroeconomic management. Nonetheless, the GEC affected African economies differently, depending on the

Can Nigeria Build A Modern Capitalist Economy?

Nigeria as a colony was incorporated into the world capitalist system by Imperial Britain. In 1960, the country attained political independence after series of negotiations and a few pockets of civil disobedience here and there. Thereafter, the country became a neo-colony in which the elites assumed the positions vacated by the British. The Nigerian elites

Nigeria’s Economy and the Challenge of Macroeconomic Management

Recently, Dr. Ngozi Okonjo-Iweala, Nigeria’s Minister of Finance who doubles as the Coordinating Minister of the Economy, briefed the press on the achievements and challenges of the nation’s economy. She rolled out impressive macroeconomic fundamentals indicating that the economy was not only stable but performing well. Based on her presentation, the economy, after the Gross

Nigerian Economy and the Dangers of Accumulation

It is widely acknowledged that all economic systems from pre-historic to modern times must reproduce themselves through the processes of production and accumulation. From whatever is accumulated, surplus is ploughed back to enhance production, find new ways of doing things, etc. The processes, more often after a long period, would result in a ‘new’ economic

Nigeria’s New GDP: The Devil Is in the Details

 Gross Domestic Product, GDP, is the market value of all final goods and services produced within a country in a year or in a given period. It captures all private and public consumption, government outlays, investments and exports less imports that occur within a country. The recent rebasing of Nigeria’s GDP, using year 2010 prices


Why We Can’t Stop Corruption – Akpan Ekpo

Nigeria is one of the countries in the world reputed to have a healthy economic growth rate, having recorded an average gross domestic product, GDP, of about 7 per cent in the past few years. The country is also set to emerge as the largest economy in Africa on account of its expected rebased GDP.