Policy. Finance. Lover of perfect sentences. #Equanimity
Joined April 2018
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Just published the first article in my series on how to build a trillion dollar economy. This piece focuses on nation building, an extremely important but unglamourous part of building a prosperous nation. Please read, share, comment and subscribe!
intelligentsia234.substack.c…
Nuesdaily retweeted
Democrats create good times. Good times create Republican voters. Republicans create bad times. Bad times create democratic voters.
Cinda Banda, a lifelong Christian from the Rio Grande Valley, voted for Trump in 2024. Abortion was her motivating issue.
But now, battling cancer and taking care of six kids, Banda's voting priorities have shifted. With affordability at the top of her list, she said she voted for a Democrat for the first time.
Story by @Jesse_Bedayn.
apnews.com/article/trump-tal…
Investing in this is basically making a Macro bet on the Nigerian economy and consumer. I would wait for the January election results before investing.
Opay, a Nigeria-focused payments platform, is seeking to raise up to $336 million in an IPO bloomberg.com/news/articles/…
Nuesdaily retweeted
it’s interesting how behaviour like this is seen as charming/eccentric when it’s coming from a european person but i know if it was like an american woman or a black woman people would be tearing her to shreds and call her all types of names
Nuesdaily retweeted
What FX rate are you targeting (since N500 may not be possible)?
It would be nice to know because Naira gained N100 in 2025 and N100 so far in 2026.
The exchange rate FX “subsidy” was a product of our declining productivity under Buhari that government failed to accept and became a massive racketeering opportunity. In the same period, budget deficit on ridiculous items was ballooned.
In the previous years, did we have a massive gap in official and parallel rates?
Why do we think managed float is subsidy? Is that not what most central banks do when they have reserves to back it up? The question should be about our productivity levers - oil, non-oil and sticky investments.
Russia-Ukraine war gave us a buffet under Buhari and our currency was still weakening. It’s the first time in Nigeria’s history that oil price and currency appreciation diverged because we couldn’t bring oil production to table. Unfortunately, our aggregate oil production has remained stagnant since the 1980s.
It’s just right that current administration worked hard to bring production up and kudos to them for finding incentives in a very competitive oil investment market. Then, raised rates to apply portfolio investment that might jump off anytime but has helped bring stability.
My thought is that CBN should do what it needs to do. If we are gaining reserves, apply managed float for appreciation. Don’t make it sound like it’s inimical to do so. It’s partly a stability mechanism. I don’t know if N500 is possible (gradual discovery on better fundamentals can take us there) but it seems what passes as intellectualism these days is not to tinker with whatever we have going right now. That’s very elitist to say.
Real labour wage growth will always take a long time to match current price levels, a major delay to macro-micro transmission that everyone talks about but hardly has an answer. We all have employees and we are trying to be ethical that what they go home with should mean more but seems we are glad to park money into FAAC, money that’s not targeted towards alleviating the social costs of current reforms. Selah.
So you’re coming to waste the reserve defending the Naira and take us back to Buhari years. Buhari 2.0 is your campaign promise?
We are convinced that targeting a strategic appreciation of the exchange rate by reasonably strengthening it from ₦1,350/$ to ₦500/$ as part of our manifesto is a winning strategy
It offers a direct, multi-faceted approach to curbing inflation, reducing poverty, and lowering the cost of living
When paired with our core manifesto commitments—such as major infrastructure improvements in security, electricity, and the road network, alongside structural reforms to boost market competitiveness—we can reasonably project a dramatic drop in staple commodity prices:
• Sliced Bread (Loaf): ₦1,750 → ₦800
• Imported Rice (50kg bag): ₦55,000 → ₦27,500
• Yam (Medium tuber): ₦2,400 → ₦1,200
• Maize (50kg bag): ₦75,000 → ₦37,500
• Plantain (Bunch): ₦2,500 → ₦1,250
• Whole Chicken: ₦7,000 → ₦3,500
• Eggs (Dozen): ₦2,300 → ₦1,150
• Garri (Painter): ₦1,300 → ₦650
• Petrol (Per litre): ₦1,350/$1 → ₦500/$1
• Cement (50kg bag): ₦13,500/$10 → ₦2,000/$4
It clearly demonstrates our concrete plan to uplift the 140 million Nigerians currently experiencing multi-dimensional poverty
Nuesdaily retweeted
We're all paying the price after Republicans increased the cost of living - look no further than an order at Waffle House.
🤷♂️
In hindsight, Asiwaju was actually correct when he wanted to intervene in Niger republic after the coup, most of us Northerners reacted emotionally and stood against him in support of the junta. Nigeria's failure to react and shore up a friendly government ultimately had a disastrous impact on our interests and national security.
What happened to the Siemens program?
FG Says It Has Paid ₦1.2trn of Power Sector Debt, Targets Over 19,000MW Capacity
The Federal Government has paid ₦1.2 trillion of the ₦2.3 trillion outstanding debt in Nigeria’s power sector to ease liquidity pressures, support electricity generation and improve power supply nationwide, the Minister of Power, Joseph Tegbe, has said.
Tegbe disclosed this on Wednesday after the Federal Executive Council meeting presided over by President Bola Ahmed Tinubu at the State House, Abuja. He said the government is also targeting an increase in national transmission capacity from 5,000 megawatts to more than 19,000 megawatts to address infrastructure gaps and strengthen grid stability.
He also announced the commencement of a modern National Control Centre in Osogbo, Osun State, to replace the existing 64-year-old facility. The project is expected to improve grid monitoring, coordination and transmission operations across the country.
Nuesdaily retweeted
Of course. The solution is to start hiding the data. A useless company whose only purpose is to help Dangote maintain his position on the Forbes list.
Dangote Cement Q3 2026 Results
The management has stopped disclosing volume data. It appears they don't want y'all probing their volume and pricing dynamics.
Revenue growth remained double-digit in Q3 2026.
In Q2 2026, when revenue grew by 22% y/y, volume grew by 10% y/y, while average pricing increased by 11% y/y.
In Q1 2026, when revenue grew by 20% y/y, volume grew by 14% y/y, while average pricing grew by 6% y/y.
After the recent 10% price gain over two consecutive trading days, Dangote Cement currently trades at 17x, with an ROA of 23% and ROE of 55%. Strong.
#NGXQ32026Results_
