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State of the Union

Sterling Bank
Published: July 28, 2021

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“This is Nigeria, anything your eye see, take am like that.”

~Random Twitter User

House of Sapa

Amaka Igwe was one of the greatest filmmakers in Nigerian history. It is even more outstanding that she shattered the glass ceiling for women when the industry was male-dominated. One of her most exceptional works features a large family in a certain house—a poignant reflection of society. Living with a large family is not the easiest, but we know the only way to succeed in commotion is through unity.

Unity is even more crucial in this era of sapa; everything don cost. Inflation is doing gengen and we would like to thank everyone involved for the tremendous work done. Everything  is going up and everyone is feeling it, even the 1%.  If you have more than 5K in your account, coman cut soap biko. Although Nigeria has officially exited the recession, it hasn’t reflected in our day-to-day activities; ask Chicken Republic; refuel is no more fueling.  

The government has actually responded in its own way. The finance bill reduced personal income tax and exempted small businesses from paying tax. Still, as with most policies in Nigeria, our problem is implementation. We have also seen Uncle Godwin help businesses by offering 12-month repayment extensions to several companies for loans worth over ₦7.1 billion. Our FX battle seems to be a lost cause anyway, so we know we have no option but to buy Nigerian.

It is not just what we buy that is going up; thankfully, we have seen oil prices maintain average pricing of $70 against the $40 that we planned (so more money for the federal government). However, since our refineries are not ready, we don’t expect fuel pump prices to go down. With our government still paying subsidies, we are still buying our own oil (GIGO). There is a silver lining as always, guys; there are strawberries in Jos and against all odds; Chelsea are the champions of Europe!!!!

Things Fall Apart

Chinua Achebe never see anything when he said things fall apart.”

~the Bro from Twitter corner

It’s been over a month now since The Great Dip. While there’s now some stability, we are  reminded of how unstable digital currencies can be, especially as a store of value. Despite the China ban and Elon Musk tweeting concerns about carbon emissions, investors are not relenting, and the CBN isn’t backing down either in its efforts to defend the naira. As the planting season continues, we hope the security situation improves so that our people in the various food belts can at least engage in farming activities.



With the second dose of vaccines currently being administered in most parts of Nigeria, it’s about to be a derry December in July. In case you haven’t got your vaccine; biko, fix up. For the first time in over 100 years, we hear that Europe has generated more renewable energy than fossil energy. More organisations are beginning to commit to greener investments—you know what that means for the largest oil producer in Africa. There are whispers that fuel pump price might be moving to the realm of no return; omo Naija, be strong!

While it is not mainstream news, the US also witnessed a 4.2% inflation exceeding the 2% target as consumer prices moved up and prices of secondhand cars went up by 10%. If a whole US is experiencing inflation, who are we biko?

Alkebulans Arise!!

We dey roll dice, but na God dey give Double-Six.”

~One man like that in Warri

We hear that the government is contemplating a change of name so get ready to exist in UAR. One of the skills that every Nigerian has developed is adaptability; we find ways to adjust despite the tough times. Save, invest and pray; we go dey alright. We trust that our government is doing its best to improve the situation. Like Fuji house, we can come together to improve the condition of our country, and we are at our best when we work together.

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