December 09, 2014
Book Review: My Watch
By Patrick O. Okigbo III
Synopsis
President Olusegun Obasanjo has bestridden Nigeria for over 50 years. In his most recent memoirs, “My Watch”, he attempts in a three-volume book to situate his place in Nigeria’s history. He leaves no one in doubt that he has a biblical conviction that he is God’s Watchman over Nigeria and, the subtext seeks to position him as the father of modern Nigeria. The book lays out what he considers to be his achievements while naming and shaming all those he believes have worked against Nigeria’s progress. He provides evidence to backup his claims.
May 16, 2014
Job Creation Strategies and Employment Creation in Nigeria
By CSEA and Nextier
Synopsis
Amidst the stable growth in Nigeria’s economy averaged at 7% for over 5 years, youth unemployment rose from 30% in 2007 to 42% in 2012. However 2.3 million new entrants are released into the labour market every year. This justified a need for quick action, as such CSEA and Nextier did a detailed research and the outcome provided the basis for a policy dialogue. This research presentation posits that to create more jobs, there needs to be a big push in the sectors that create more jobs. Thereby opening up the dialogue with the question “where should the big push come from?”. The dialogue involved government sector players, private investors and civil society organizations deliberating on strategies for job creation.
By CSEA and Nextier
Synopsis
Amidst the stable growth in Nigeria’s economy averaged at 7% for over 5 years, youth unemployment rose from 30% in 2007 to 42% in 2012. However 2.3 million new entrants are released into the labour market every year. This justified a need for quick action, as such CSEA and Nextier did a detailed research and the outcome provided the basis for a policy dialogue. This research presentation posits that to create more jobs, there needs to be a big push in the sectors that create more jobs. Thereby opening up the dialogue with the question “where should the big push come from?”. The dialogue involved government sector players, private investors and civil society organizations deliberating on strategies for job creation.
April 15, 2014
Post Summit Report
By Nextier and EnergyNet
Synopsis
The Power Investors Summit: Nigeria is the annual meeting of the Nigeria Power Sector, which provides an open platform for continuous dialogue between policy makers and private sector participants. The meeting is positioned to driving international and local investments in Nigeria’s fast emerging power sector. The 2014 edition with the theme “Maintaining Momentum in Nigeria’s Power Sector” was focused on policy, governance, industrialization, and resource management as it relates to the sector. Participants at the Summit discussed challenges, scoped opportunities, and developed recommendations for the sector. In addition to the Honourable Minister of Power, there was representation for C-level professionals from both the private and public sectors.
April 9, 2014
Funding Education: Money is Not The Problem
By Patrick O. Okigbo III and Francesca Pat-Ekeji
Synopsis
This Op-ed asserts that to improve the Nigerian education system, money is not the problem as opined by so many. It suggests that in improving the educational system; processes and accountability are key. A way to achieve both is through Public-Private Partnerships that are not limited to providing funds but extend to the provision of oversight.
By Patrick O. Okigbo III and Francesca Pat-Ekeji
Synopsis
This Op-ed asserts that to improve the Nigerian education system, money is not the problem as opined by so many. It suggests that in improving the educational system; processes and accountability are key. A way to achieve both is through Public-Private Partnerships that are not limited to providing funds but extend to the provision of oversight.
April 4, 2014
By Daily Independent News
Synopsis
In an interview with News Agency of Nigeria, Patrick O. Okigbo III, Principal Partner, Nextier, argued that private sector involvement is required to fund education in Nigeria. He highlighted various Public-Private Partnership models in education.
March 30, 2014
By CSEA and Nextier
Synopsis
Unemployment is a critical policy challenge in Nigeria. It has continued to worsen in the face of a continuous economic growth averaged at 7 percent over the last 10 years. This situation is despite several interventions by various Nigerian governments over the last half century. The paper, “Rethinking Nigeria’s Job Creation Strategy”, was developed by Nextier and the Centre for the Study of Economies of Africa (CSEA) as an input into the ongoing discussions on how to get the Nigerian economy to start creating jobs. The new strategy should focus on skills, infrastructure and innovation.
March 28, 2014
By Patrick O. Okigbo III
Synopsis
Mallam Sanusi Lamido Sanusi, Governor of the Central Bank of Nigeria (CBN), in a letter to President Goodluck Jonathan alleged potential fraud at the Nigerian National Petroleum Corporation (NNPC). This Policy Brief presents the facts of the case and recommends an operational and financial audit of NNPC instituted and funded by an independent body and conducted by a firm that has in-depth understanding of the workings of the different parties in Nigeria’s petroleum industry.
March 16, 2014
By Sunday Newswatch
Synopsis
“The non-passage of the Petroleum Industry Bill (PIB) has created confusion as to the fiscal regime under which the industry would operate” says Patrick in an interview with Newswatch. He explained extensively how the delay in passing the PIB had hampered the sectors progress with more emphasis on the ongoing sale of Marginal Oil field. Patrick recommends what should be done to ensure the timely passage of the PIB.
March 12, 2014
By Patrick O. Okigbo III
Synopsis
According to Jim O’Neill, an economist, Mexico, Indonesia, Nigeria and Turkey (MINT economies) are expected to produce the highest return on investment in the next 10 years. In fact, Nigeria is poised to become one of the world’s largest economies in the 21st century overtaking economies such as Italy, France and the United Kingdom. This newspaper publication highlights the economic growth history of Nigeria in recent years as validation for Jim O’Neil’s prediction and as such referring to Nigeria as investors haven.
March 08, 2014
By Eniwoareke Egbeme
Synopsis
There is no doubt that Nigeria presents a compelling story for infrastructure investment. Nigeria’s growth rate has been remarkable over the last decade with 7.9 percent growth. The opportunity size for investment over the next 30 years is estimated to be over US$2 trillion. Nigeria has a good strategic planning framework with a close relationship between the Vision 20:2020, Transformation Agenda and National Integrated Infrastructure Master Plan with a vision to provide adequate infrastructure services that support the full mobilization of all economic sectors. This policy brief presents the challenges of investing in Nigeria and the enormous opportunities that lie therein. Thus, recommends being savvy to invest in Nigeria.
March 04, 2014
By SweetCrude (Vanguard)
Synopsis
In this article published in the Sweetcrude of Vanguard Newspaper, Patrick Okigbo was extensively quoted expressing his disbelief in the success of the sale of marginal fields if continued with the present process. He posits that for the sale of marginal field to be successful, it should be well structured and more transparent.
May 02, 2013
By Patrick O.Okigbo III, Adeoye Adefulu, Ruby Onwudiwe
Synopsis
The Petroleum Host Community Fund (“PHCF”), as contained in the 2012 Petroleum Industry Bill (“PIB”), has been touted as an initiative to address a variety of developmental problems in the Niger Delta and to bring peace to the region. The Bill does not however lay out in a clear manner how these objectives are to be met and appears to suggest that the allocation of more funds on its own is enough. Recent history has shown that in spite of the significant funds allocated to the Niger Delta, progress has been limited. In view of the many challenges faced in the utilisation of the funds currently allocated to the Niger Delta and the contentious issues surrounding the inclusion of the PHCF in the PIB, this paper recommends the excision of the PHCF provisions and government’s concentration on implementing a community led developmental approach in the management of the existing Niger Delta intervention funds.
February 28, 2013
Now is the Time to Act
By Nextier Research
Synopsis
The Nigerian aluminium industry is facing significant threats especially from dumping of products mostly from China. Without concerted intervention from the Federal Government of Nigeria, it is feared that the industry may cease to exist within the coming months. The collapse of that industry will result in significant loss of investments, jobs, and will impact Nigeria’s Gross Domestic Product (GDP). This Paper proffers specific government interventions that do not necessarily provide any undue advantage to Nigerian companies (unfair trade); rather, suggests programmes that create a level playing field for fair competition.
January 31, 2013
Will there be light?
By Patrick O.Okigbo III and Mmachukwu Onyeka
Synopsis
Nigeria has consistently failed to deliver the electric power required by homes, businesses and support services. Various efforts by the government to improve service delivery resulted in failure. The Federal Government decided to privatise the sector in an effort to increase electricity supply and improve service delivery. This Policy Brief reviews the goals and process of the privatisation exercise to ascertain whether it will deliver the expected electricity at the end of the process.
March 30, 2012
Creating Market to Drive Agricultural Growth
By Patrick O. Okigbo III
Synopsis
This newspaper publication uses the recent commissioning of Teragro Nigeria Limited – the first juice concentrate plant of its kind in Nigeria – to discuss strategies for agribusiness development in Nigeria. This project, of which Nextier principals played a leading role, was used to showcase the opportunities in agro-processing especially as the country suffers from a significant lack of agro-storage and processing infrastructure.
March 30, 2012
By Patrick O. Okigbo III and Mmachukwu Oyeka
Synopsis
Since Nigeria’s return to democracy in 1999, the cost of running the National Assembly has been on an upward trajectory even as the percentage of Nigerians living in poverty continues to grow. It is no surprise therefore that Nigerians are becoming more vocal in their demands for a more effective management of the Legislature. This Policy Note, in line with the mandate of the 2011 Constitution Review Committee (CRC), advocates the adoption of a downsized, part‐time, bi‐cameral legislature as one of the efforts to effectively manage the National Assembly.
February 15, 2012
Submissions from industry, civil society organisations, unions and media
By Adeoye Adefulu, Aaron Sayne, Gbite Adeniji, Patrick O. Okigbo III and Ronke Onadeko
Synopsis
At two industry Roundtables held in Lagos between January 31 and February 01 2012, senior figures from the organised private sector, civil society, trade unions and media presented a shortlist of “Must-Have” issues to be considered during the development of the final draft of the Petroleum Industry Bill. This Paper documents the key issues.
January 15, 2012
History, Objectives, Institutions and Controversies
By Awele Okigbo
Synopsis
The Petroleum Industry Bill is an attempt to bring under one law the various legislative, regulatory, and fiscal policies, instruments and institutions that govern the Nigerian petroleum industry. The Bill is expected to establish and clarify the rules, procedures and institutions that will entrench good governance, transparency and accountability in the oil and gas sector. It aims to introduce new operational and fiscal terms for revenue management to enable the Nigerian government to retain a higher proportion of the revenues derived from operations in the petroleum industry. The purpose of this document is to articulate in one place the history, objectives, institutions, and controversies shrouding efforts to pass the Bill into law. This document is intended for members of the Nigerian National Assembly, industry stakeholders, decision makers, and policy analysts as a part of Nextier’s effort to support the passage of the Petroleum Industry Bill.
December 30, 2011
The ABC of PIB
By Awele Okigbo
Synopsis
The Petroleum Industry Bill (PIB) is an attempt by the Nigerian government to reform the oil and gas industry in order to improve sector efficiency and transparency, increase revenue share and provide incentives to encourage the indigenous oil industry. This document provides a high level summary of the key provisions of the PIB and is intended as a quick reference for industry stakeholders, decision makers, and policy analysts during the ongoing debates.
December 21, 2011
What it means for the next 4 years
By Mmachukwu Oyeka
Synopsis
The Mini Policy Review is a periodic presentation held in the offices of Nextier Capital Limited to a select audience to discuss critical policy issues. Mmachukwu Oyeka – an Analyst in Nextier Capital Limited – used the 2012 Federal Budget to raise questions about the focus of the Jonathan Administration.
December 15, 2011
Achieving the Optimal Solution
By Patrick O. Okigbo III and Dili Enekebe
Synopsis
The debate over the removal of the subsidy on petroleum products is not about its effectiveness (as an intervention program) or its sustainability (among other conflicting economic demands). Rather, it is about the credibility the Nigerian government lacks and its historical failure to deliver on its promises. The purpose of this document is to provide an independent review of the key issues involved in the debate and to recommend an optimal solution. This document is intended for industry stakeholders, decision makers, and policy analysts as a point of reference during the ongoing debates.
