Meaning of SWIFT and the economic implications of its ban in Russia

Photo by Ivan Samkov on Pexels.com Russia's invasion of Ukraine has intensified calls to impose sanctions that would devastate the Russian economy and target leaders in its government. One of the key demands put forward by the Ukrainian government is for Russia to be barred from SWIFT - the world's most-used interbank communications system. "I … Continue reading Meaning of SWIFT and the economic implications of its ban in Russia

Power is Vital for Economic Development in Nigeria

Nigeria is undergoing economic recession. But despite the inspiring short and long-term economic forecasts, the nation has a number of power supply challenges, many of which can be solved with renewable energy. SASOL power Station in Secunda, Mpumalanga. PHOTO: ANTONIO MUCHAVE/16/04/2013/SOWETAN First among the sustainable energy options is hydropower. However, the major problem with hydropower … Continue reading Power is Vital for Economic Development in Nigeria

The 3 pillars of sustainability

Sustainability has three main pillars: economic, environmental and social. Although, they are informally referred to as people, planet and profits. As part of our sustainability month here at Business Leader, we’ve looked into the three pillars of sustainability to tell you everything need to know about them. Photo by Belle Co on Pexels.com What is … Continue reading The 3 pillars of sustainability

Irobiko Chimezie

Danjuma calls on Nigerians to wake up and save themselves

Nigeria's former Minister of Defence, Lt. Gen Theophilus Danjuma (retd), has said that the country was at a very disturbing bend in its journey as a sovereign state. Danjuma, who spoke on Thursday at the launch of a book by the Nigerian Tribune in Ibadan, Oyo State, stated that happenings in the country outside public … Continue reading Danjuma calls on Nigerians to wake up and save themselves

The link between governance and economic growth in Africa

Lots of countries have not always been able to understand the essence of politics from the economic perspective over the past several decades and thus have not transferred the focus of national work to economic construction. Some countries have ignored the fundamental goal of economic development over a long period and became deeply entangled in … Continue reading The link between governance and economic growth in Africa

What are the disadvantages of tourism?

Did You Know? ° The money generated by tourism accounts for 5% of global GDP. ° For every job created in the core tourism industry, around 1.5 extra, indirect jobs are created in the wider tourism-related economies. ° Tourism provides jobs for 1 out of every 12 workers in advanced and emerging economies. The Disadvantages … Continue reading What are the disadvantages of tourism?

Benefits of tourism for every country

Many places in the world rely heavily on tourism as a key source of income and employment. Unfortunately, tourism can also be a source of problems, especially if it is not managed well. A huge influx of visitors can gradually deplete the beauty, uniqueness, character, environment, resources, and social coherence of a tourist destination over … Continue reading Benefits of tourism for every country

Corruption, a major obstacle to economic growth in Africa

The paper, titled ‘A Governance Dividend for Sub-Saharan Africa?’ stated that countries in the region tended to lag behind those in most other regions in the world in terms of governance and corruption. Eighty per cent of sub-Saharan African countries (36 out of 45) score below the global average in the Transparency International Corruption Perceptions … Continue reading Corruption, a major obstacle to economic growth in Africa

Russia struggling for presence in Africa, against the US and China

Russia has never had an African colony. It stayed out of the scramble for Africa, only engaging with African states in the 19th Century. In 1869, for instance, the Russians gave Ethiopia military support to threaten the position of the British in their quest to control the Suez Canal. They did this because Britain was one … Continue reading Russia struggling for presence in Africa, against the US and China

A Comparative study of SMEs in Nigeria and India

During the 2005 commissioning of SMEDAN headquarters in Abuja, then-president Olusegun Obasanjo called on CBN to ensure optimal functioning of SMIEIS and other SME-friendly banks like the Bank of Industry (BOI) and Nigerian Agricultural Cooperative & Rural Development Bank (NACRDB). Subsequent reforms in the banking sector, which was expected to boost performance of SMEs in … Continue reading A Comparative study of SMEs in Nigeria and India

Climate change is an inevitable result of global improvements in the standard of living

It is unarguably true that global warming and climate change are results of damage inflicted on the environment by mankind in order to make our lives better. For instance, improvement in science and technology, specifically fumes from cars and other electromechanical equipment negatively affect the health level of air around us. However, the convenience and … Continue reading Climate change is an inevitable result of global improvements in the standard of living