Remaining Sane In An Increasingly Insane World

 By Owei Lakemfa

It appears the re-opening of the Strait of Hormuz, through which one-fifth of world oil passed before the US–Iran war, was one of the most urgent tasks of humanity. The United States has, for six months, been unable to re-open this vital artery, which handled 100–140 commercial ships daily. Then, like magic, Oman and Iran reached a consensus to reopen the strait.

*Trump in the Middle East

Oman, a tiny country of 5.4 million people spread over a 309,500 square kilometre area, is one of the closest allies of the US. It was the first Arab nation in the Arabian Peninsula to sign a trade and diplomatic agreement with the US. That was 193 years ago. In the on-going US–Iran conflict, Oman has suffered many Iranian strikes, including on the ports of Duqm and Salalah, the industrial areas of Sohar, Mina Al Fahal and Bukha, radar and ship-detection infrastructure, and hits on commercial and oil tankers navigating the Gulf of Oman.

When Prices Rise In Nigeria, They Rarely Fall

 By Osilama E. Osilama

Nigeria today faces a troubling economic paradox. Prices rise quickly when economic conditions worsen, yet they rarely decline when those conditions improve. This phenomenon—experienced daily by millions of Nigerians has quietly evolved into one of the most dangerous distortions in the country’s economic structure.

Though I am not an economist, it increasingly appears that Nigeria operates what could be described as a “one-way economy,” where prices move easily upward but almost never downward. The implications of this pattern are profound, particularly for the housing sector and the survival of the Nigerian middle class.

If Nigeria must build a fair and functional economy, government must confront the economics of pricing through deliberate policy reforms and, if necessary, a strong executive bill supported by legislation.