Oluyomi Ola-David Insights

Undoubtedly, Africa has a young population and one of the fastest rates of natural increase in the world. According to UN-DESA, while most European countries are at zero population growth rates, Oceania at 1.7 percent and Latin America at 1.1 percent, the average annual population growth in Africa was about 2.5 percent as at 2013.  Of all the challenges of having a young population, that of unemployment is most visible and impactful on the social and economic environment. Owing to the low labour absorption rates of the organized private sector in developing countries, most unemployed youths who migrate to cities in search of ‘greener’ pastures find solace in the urban informal sector – for livelihood.  These youths either rove busy urban streets or sit by sidewalks in make-shift shacks to sell their wares; this they continue to do, despite their daily   exposure to hazards   – accidents, harassment by law enforcement agents, arrest, confiscation of wares   and the attendant   i

The socio-economic effects of emerging trends in foreign direct investment (especially in resources) have received much attention in media reports, academic literature and policy briefs in recent times.  To cite an instance, the 2014 Africa Progress Panel report highlights the current and potential roles of land and water resources in the structural transformation of African economies.  Following the 2007/08 food security crisis and increased drive towards alternative energy sources, several countries (including China, the world’s most populous country) have purportedly sought investment in land resource abundant countries (mostly Africa) for agricultural use amongst other things.  Besides, the writing of experts on the study of Sino-African relations, notably Deborah Brautigam, is due to be acknowledged. In a recent discourse paper I contributed to debunking some myths surrounding Chinese land grab in Africa. As against pessimistic perspectives that focus on the potenti

From childhood, I have been averse to the sight of folks throwing out packs of recently consumed items from moving vehicles (from rickety buses/cars to posh cars!) or as they pass by along sidewalks.  I still recall how loud my (mind) protests were, sometimes giving a ‘bad eye’ to the unsuspecting culprits. It always agitated my young mind, anytime I passed by a street corner or highway and saw consequences of individual actions – heaps of dirt.  Paradoxically, those of us who tend to litter our noble environment will likely be first to scream at the press or say offhandedly that the government is responsible for our roadside rubbish.  Oh! Who is the government? The physical structures that make up the federal and state secretariats or local councils? We, the people, are the ‘governors’ of our environment, of our country and the architects of our future. There are several programmes and policies that have been implemented towards a cleaner environment at different points i

I like the tropical fruit called pineapple and it serves as a sweet base for some of my homemade fruit juices. I have observed in recent times as I shop in local markets and around town for pineapple that there are two varieties –  slim-shaped pineapples and robust pineapples. The slimmer pineapples are usually the majority available with general purpose or specialized fruit vendors and can be bought at low prices (between NGN40 – NGN80 a piece depending on size). On the other hand, the robust variety are sold at relatively higher prices (between NGN150 – NGN250 a piece).  Of course I usually purchase the cheaper variety because it is readily available in larger quantities than the robust type. Recently, while shopping for fruits at a nearby cluster of sellers, I had bought the robust type (because the slim type was not available) and discovered a difference in colour, taste and texture. On a fact finding mission (during another market visit) while bargaining for a set of

Foreign direct investment (FDI) has been widely adjudged a veritable tool for international finance, private sector development and, national development.  However, there has been relatively little emphasis placed on its role in reducing poverty and narrowing inequality in the developing economies of Africa.  In a recent  study , I and Oyebanke of Columbia University depicted a link between FDI and poverty reduction, with poverty being analysed within a multidimensional framework.  Situated within theoretical and empirical literature on  FDI , institutions and social policy in Africa,  we established the importance of building the right institutions to foster inclusive growth .  Using  the specific case of the Nigerian Niger-Delta region we showed how crisis in human security and development is a consequence of the absence of efficient social development institutions.   On the other hand, from the success story of Mauritius, we illustrate how FDI can deliver on its p

The phenomenon of jobless growth is widely discussed  in literature on employment in developed countries.  In an attempt to examine the phenomenon of jobless growth in Nigeria, Africa's largest economy, we carried out a  study  to estimate the  employment elasticity of economic growth.  There are two important findings from the study. First, economic growth  was found to be   employment elastic and significant, implying that the notion of jobless growth - whereby economic growth is negatively related to level of employment - does not apply to the Nigerian  economy. Second, foreign private investment was observed to be employment inelastic. This indicates that foreign  private investments may be engaging more capital-intensive technologies rather than  labour-intensive technologies in a labour-surplus economy.  Otherwise, foreign private investments may be creating jobs but not so much for Nigerians, leading to capital flight. In order to ensure that foreign privat