A Trodden Path

So why do I think the Nigerian government should increase the minimum wage?  #Storytime Why the Government Should Pay More In 2002, I was in Lagos searching for an internship position. The average pay for interns at the time ranged from N3,000 to N5,000. There was a popular telecoms company that always took on interns and paid N3,000. That was my fall-back option but my goal was to find a place that paid N5,000. I scoured the whole of Lagos, walking door-to-door, office-to-office, dropping off what was my resume at the time. You have to remember this was 2002, before Facebook , LinkedIn or Nairaland.com . I didn't even have a mobile phone. Eventually I got an interview at this company in Victoria Island. They offered to pay me N6,000 but I hated the thought of working there. Why? First thing, everyone wore uniforms in this place. And when I say everyone, that includes 40-year old men with wives at home. The company manufactured electronic cards not medical equipment! Why the

The Nigerian Debt Management Office's response to concerns about Nigeria borrowing from China is the equivalent of one saying "God forbid" to the possibility of a car crash... and then proceeding to drive without a seat-belt .  Saying the possibility of a failure to default does not exist is an extremely naive statement. It's just like saying the possibility of a recession did not exist because Nigeria was the largest economy in Africa .  Also the Zambia example is not yet ancient history.   The question the DMO needs to answer is, what happens if there is a default? The reason concessional loans exist is because they come with certain conditions that favour the lender directly or indirectly. They either influence your policy-making or tie you into agreements that significantly hamper the potential for independent economic growth in future with severe penalties in case of a default.   The question I ask is where did China, Singapore or South Korea borrow from to