NIGERIA IN 2050 (I)

It is the year 2050. Nigeria is the world’s 13th largest economy and China’s Gross Domestic Product, the largest in the world, is almost double that of the USA. Now one of the top 20 economies, Nigeria experienced consistent and rapid growth due to its youthful working population and prudent use of oil wealth to improve infrastructure and institutions necessary for a diversified economy- Building Africa on Solid BRICS, Ventures Africa magazine, volume 3/2013.

Countries in other continents of the globe have witnessed development and economic prosperity before now, and the time for countries in Africa for transformational experience has actually arrived. President Barack Obama once said that Nigeria is critical to the rest of the continent and if Nigeria does not get it right, Africa will really not make more progress. The British Prime Minister David Cameron, has also said “Which continent has six of the ten fastest growing economies in the world? Asia? No, it’s Africa. Which country is predicted by some to have the highest average GDP growth in the world over the next 40 years? You think Brazil, Russia, India or China. No. Think Africa. Think Nigeria”.

A close look at the path of nations that have made it to economic prosperity will reveal the indispensable role of a clear vision form a dynamic leadership. This leadership in context transcends individuals but institutionalized leadership such that succeeding generations keep the vision flying. The era of National Development Plan from the pre-independence period to its last- the 1981-1985 NDP launched by President Sheu Shagari has contributed immensely to the growth of the nation before now. The stories of the good old times that some of the older generation talk about may be easily connected to the effect of the NDPs. The impact of the NDPs on education, infrastructures, industries and national unity among others cannot be over-emphasised.

After the end of the NDP era, the Millennium Development Goals have served tremendously as a rescue device for underdeveloped and developing nations, Nigeria inclusive. Unfortunately, the MDGs weren’t designed for any nation’s economic prosperity.

So, a national vision is the first step to a country’s growth. It is necessary to mention that the realisation of a vision may be viewed from two perspectives- one based on natural potentials and the other is based on commitment to develop capacity to fulfill it. Nigeria has what it takes to achieve whatever vision through its natural potentials while the population is also imbued with the spirit to develop competence for what seems to be out of reach.

Furthermore, I am compelled to share a part of the Pricewaterhouse Coopers World in 2050 report of January 2013 titled, “World in 2050: The BRICS and beyond: Challenges and Opportunities”.

China is projected to overtake the US as the largest economy by 2017 in purchasing power parity (PPP) terms and by 2027 in market exchange rates. India should become the third ‘global economic giant’ by 2050, a long way ahead of Brazil which is expected to move up to 4th place ahead of Japan.

Russia could overtake Germany to become the largest European economy before 2020 in PPP terms and around 2035 at market exchange rates. Emerging economies such as Mexico and Indonesia could be larger than the UK and France by 2050, and Turkey larger than Italy.

Outside the G20, Vietnam, Malaysia and Nigeria all have strong long term growth potential, while Poland should comfortably outpace the large Western European economies for the next couple of decades.

These were based on projected trends in demographics, capital investment, education levels and technological progress.

Having noted that Nigeria has the potential to truly become one of the 20 leading economies in the world, the pace of growth and commitment may not make it achievable in 2020. A short or medium term vision should not be misplaced for long term vision; even if progress is made, it would still appear as substantial failure. The ultimate expectation will be the measure of assessment rather than gradual work and progress evaluation to the ultimate. The vision of Nigeria for the year 2020 should not be to become one of the 20 leading economies by but rather to have achieved building a measure of infrastructure, repositioning institutions, employment generation for the teeming youth, standardised education sector, re-strategised policies among others. These are the indispensable conditions for realising the national vision.

From the above, I have identified key issues to discuss in line with Nigeria in 2050. They include leadership, working youthful population and demographic, oil wealth for infrastructure, Institutions, education and technology. But before I lead discussion on these, I consider it quintessential to discuss corruption and its harm to project Nigeria in 2050. Corruption shall be the subject for the next post which shall also include effective ways to rescue the nation from the scourge.

Olusola Akinyemi Esq.

President

Joseph Initiative Ltd/Gte

Nigeria in the global economy

Nigeria in the global economy

“With each day in Africa, a gazelle wakes up knowing he must outrun the fastest lion or perish. At the same time, a lion stirs and stretches, knowing he must outrun the fastest gazelle or starve. It is no different for the human race. Whether you consider yourself a gazelle or a lion, you simply have to run faster then others to survive” – Mohammed bin Rashid Al Maktoum.

Globalisation has come to stay more so with the information technology lubricating it. Free trade economic policy in the international community has opened all nations into the field of competition. Nations of strength and weakness have been thrown into the same jungle in search of the ultimate: survival and prosperity. It is now a survival of the fittest.

Countries are now in competition with product and services. The best strategies to push excellent and cost efficient products in any available market are utilized to enhance national economic growth, profitable and safe business environment and good standard of living for the citizenry. Countries like the US, China, South Korea, India, Brazil and the United Arab Emirates keep growing all the muscles to survive and prosper in the competitive jungle of globalisation.

Nigeria has once been regarded as the giant of Africa. Some of what actually qualified the nation for the epithet are still existent which include the oil, solid mineral resources and arable land, while the likes of growing industry and human capital development via education are on rapid decline. Due to lack of maximum utilisation all available resources: mineral, human and capital among others, the nation continues to be a victim of consumption of the strong competitors in the global race for survival and prosperity.

The time is long due to wake up, have a clear vision that will be well communicated and understood by all Nigerians home and abroad, the government departments and institutions, civil servants, private sector, professional bodies and educational institutions will have all hands on deck to achieve the survival and prosperity of Nigeria and Nigerians.

Nigeria should never settle for the second place in anything. We should remember in the jungle of globalisation, the lion run very fast not starve but the gazelle run far faster to survive. In the new world, Nigeria has to wake up and take responsibility to grow all the muscles to survive and prosper.

Olusola Akinyemi Esq.

President

Joseph Initiative.

The Office and Person of a Public Leader

The Office and Person of a Public Leader

Leadership may be simply described as influence. Leadership prowess is the ability to make others do what they ordinarily wouldn’t have done to achieve a worthwhile common goal. In the public leadership context, it is when a public officers by election, appointment or elevation in public service among other individual influence drivers, can make subordinates and the public to achieve a goal in national/public interest.

There is a distinction between the office and the person of a leader, particularly a public leader. Though the personality of a leader will most likely inform his style of leadership but from the words of John C. Maxwell, ‘Leadership is more important than the leader’. So, when there is conflict between the office of a leader and the person of a leader, the office should prevail. The line can be thin, so, people don’t know when they cross it or care when they realise.

The person of a leader is shaped by his/her personality type, values, education, exposure, maturity and experiences while the office of a leader is guided by ethics and principles. The crux of ethics and principles is ‘national interest or public interest’ as the case may be.

A number of subjects of public concern including but not limited to national unity, public properties, infrastructure development, education, management of public resources and finance, and human capital development have been influenced more by the person of leaders than the ethics and standards of public leadership. The standard is high and the test hinges on discipline.

Discipline is what helps to strike the balance to know what decision to make when the office of leadership has not rubbed off on the person of a leader.

For the overall interest of the nation and public in every constituent, every leader and emerging leader should strive to identify the boundaries between his/her person as a leader and the office of leadership. Public leadership is more than the office euphoria or sense of self fulfillment or gain, it is about selfless service for national/public interest.

Olusola Akinyemi Esq.

President

Joseph Initiative

NATIONAL INTEREST: A PANACEA FOR DEVELOPMENT IN NIGERIA

NATIONAL INTEREST: A PANACEA FOR DEVELOPMENT IN NIGERIA

I have learnt that National Interest is the aggregate of interest of individuals and groups within a given state. It is all that a nation considers vital for its survival and prosperity. Proximate to this is protecting and preserving the interest of our citizens within the country and abroad. National capability on the other hand is described as the ability of a nation to protect its national integrity which is premised on national interest. The question to ask is what Nigeria’s national interest is and what national integrity are we protecting?

Section 19 of the 1999 Constitution of Nigeria which provides for Nigeria’s foreign policy objectives includes promotion and protection of National Interest, though it failed to define what it is. One of the problems of our national integrity may be lack of defined national interest.

The meaning is therefore left to what any leader who has interest in such definition gives it. Obasanjo in 1976 defined national interest of Nigeria as constituting four components-

1.      The creation of suitable political and economic environment in Africa and the world at large which will facilitate the defense of the territorial integrity of African states;

2.      The promotion of equality and self-reliance in Africa and the world;

3.      Defense of social justice and human dignity of the Black man; and

4.      The defense and promotion of world peace.

This may account for why Nigeria’s foreign policy is being referred to as Afrocentric.

However, from the description given earlier, Nigeria’s national interest should revolve more around the survival and prosperity of Nigerians, home and abroad than on the continent of Africa and the globe. In fact, the deeds of Nigeria in foreign relations should strategically center on Nigerians’ interest. Therefore, Nigeria’s national interest should include Nigeria’s economic prosperity, social welfare, and protection of the nation’s national security.

Having a concept of Nigeria’s national interest in mind, how best can we make it a panacea for national development? It is congenial to have an understanding of what National development may be described as. In context, it may include:

1.      Economic growth with a GDP and GDP Per Capita that is physically real to over 70% Nigerian being able to feed their families, afford education for family members (children and parents increasing skills), basic health care for the family. This will be identified by the following:

a.      Revival of the Agricultural sector,

b.     Functional manufacturing sector with uninterrupted power supply,

c.      Revival of the Mining sector,

d.     Provision of infrastructural facilities and enabling environment for the SMEs to thrive, and

e.      Nigerians being able to provide up to 70% of products and services consumed in Nigeria.

2.      Education sector overhaul: Civilisation, technological advancement and innovation flow towards environments with standard education. The standard of education should be increased with facilities and equipment adequate and functional;

3.      Exalted national ethics which include selflessness, discipline, integrity, dignity of labour, ethnic and religious tolerance, self-reliance and patriotism Section 23 of the Nigerian Constitution (selflessness and ethic tolerance mine);

4.      Security of the national territory for the safety of Nigerians and foreigners;

5.      Adequate and well equipped health care facilities with skilled staff. Reduction of child mortality, maternal mortality, containment of malaria and proximate illnesses, control of the spread of HIV/AIDS, reduction of death from curable diseases and maintenance of hygienic environment;

6.      Regional harmonization and security with interest in matters of global importance;

7.      Safe recreational and tourist attraction around the country;

8.      Practice of constructive politics that is built around national growth and international reputation as opposed to political party’s interest or leaders’ gain.

At this point, we will try to relate national interest to the components of national development described. It is in the interest of all persons that the components identified should be realised. In other words, it is in national interest for Nigeria to pursue and ensure the accomplishment of national development. The benefit of this extends beyond social welfare of every Nigerian to promoting an image of dignity, trust and opportunity for the citizens and the country to the international community.

Disregard to national interest is part of what has kept Nigeria as a developing nation of its current state for over fifty years of independence even in the midst of abundance of natural and human resources. President Obama one said, Nigeria is the major hope for real growth in Africa. But how are we trying to live up to this?

Just as we know of the US that national interest is a fundamental guide to its domestic policy and foreign relations, it is a pre-requisite for national development in Nigeria. Every citizen in whose benefit national interest is must rise to take responsibility for national development.

From a book titled Presidential Leadershiphttp://books.google.com.ng/books?id=myl2AAAAMAAJ&source=gbs_navlinks_s, a survey of the leadership of White House Presidents for George Washington to Bill Clinton, I observed that the US has attained the height of economic vibrancy and global political influence through continuous contribution of every generation of the country till date holding firmly to the watchword: national interest.

Upholding national interest by the leaders, policy influencers and makers, institutions, organisations, politicians and citizens in general is the ultimate guarantee to promote and realise national development in Nigeria. National interest will demand for contribution, discipline and sacrifice for us to experience all the components earlier described. Most assuredly, there will be better life for everyone both citizens and foreigner to trade, deal or visit us.

In conclusion, national interest should not be an abstraction but real to be held as a watchword for every citizen and leaders for the purpose of realizing national development. This is because national development is in the interest of every Nigerian.

Olusola Akinyemi Esq.

President

Joseph Initiative Ltd/Gte

olusola.akins@gmail.com

08077726199

TIPS ON MAXIMISING CAPITAL FOR NATIONAL DEVELOPMENT

TIPS ON MAXIMISING CAPITAL FOR NATIONAL DEVELOPMENT

Capital to every entity has always been an essential factor for establishment and growth. Without it entities struggle for sustenance. This may include not being able to meet the demands of the market and not thriving in a competitive world.

Insight of the subject of capital as a factor for growth particularly limited. Basic economics teaches capital as a factor of production among land and labour. Capital has over the years been often described as money but knowledge and practice of this age has moved far from that. It now has types which include – human, social, infrastructural, institutional, security, information and financial capital. In considering these forms of capital, in the context of a nation, we will nexus them to their influence on national development.

Human capital

This relates to the extent to which every individual in a nation is realising their potential. It includes the advancement of individual skill, knowledge, talent and ability that influences personal, social and economic wellbeing. The underlying factor here is capacity development with consistency. Thus the growth of a nation can be measured by its human capital development.

Social capital

The quality of relationships amongst a diverse citizenry in a country with link to standards of mutuality and trust also plays a huge role in national development. Social capital is simply trust, which ultimately enhances other types of capital. This has the capacity to enhance speedy growth with less suspicion as it reduces corruption and crime. The main values of social capital have been described as trust, value system, sense of community and solidarity.

Infrastructural capital

It is a no brainer to contend with the possibilities proper infrastructure brings to a economy. Infrastructures such as power, transportation, friendly environment, government policies and laws influences development of enterprises and facilitation of growth. Commerce may survive without adequate infrastructure but will certainly boom with the provision of such. Also the cost of running business and individual sustenance is minimized. The absence of infrastructure can and has hindered growth across Africa, and in the 21st century the onus is on African government and the private sector to ensure the provision of necessary infrastructure that will spur the economy.

Institutional capital

This may be described as the guide of the nation which regulates the socially and culturally permissible behaviour that should be followed. Institutions dictate and enforce compliance on activities within the nation – consciously and unconsciously. The absence of this will create chaos in all areas of national existence. as the efficacy of institutional capital ensures that the objectives of projects, programmes and policies are met.

Security capital

This may be viewed in two perspectives – regime of government with sustainable policies on the one hand and physical security of the state on the other. Both local and foreign players in the economy are either skeptical or encouraged by policies of the government. It may also take the form of a government sustaining the progressive policies of previous administration(s). This should be based on objective test rather than subjective.

Physical security of the environment is a capital that cannot be overlooked. People and ventures thrive more in a secure environment. It cannot be overemphasised what a nation like Nigeria has lost to insecurity problems.

Information capital

This asserts information as an intrinsic value which can be shared and leveraged on to enhance growth. It means sharing information is sharing power. It enables the exchange of knowledge for advancement. Information capital emphasises decision making based on best available option. No individual, organisation or nation will function better than the level of information it is exposed to.

Financial capital

We have saved the big dog for the last. Financial capital, which is mostly been perceived as the only capital, is the money available for ventures to invest in products or services in sectors of the economy. The availability of financial capital makes ideas handy and thrive. This may extend to available credit facilities from financial institutions with special emphasis on fair interest rate. Other forms of capital mentioned will function at their optimum when financial capital meets them working effectively and efficiently in an economy.

In this era, capital transcends money. Nigeria, and indeed other African countries need to maximize all forms of capital towards national development. All of these forms of capital are important but I like to emphasise attention to Human, Social and Institutional capital. These are the major drivers of development in any nation. They have multiplier effect on the nation with the presence of all others.

Leading the maximum utility of capital as a veritable tool for national development should be led by the government. Some corporate organisations practice the use of capital beyond money and it has translated into development and growth. But for capital of all forms to have far reaching effect on the nation, all hands must be on deck and ultimately, national development will become a national experience.

This work was published in http://www.ventures-africa.com/2013/04/maximising-capital-for-national-development/ 

Olusola Akinyemi Esq.

President

Joseph Initiative Ltd/Gte

olusola.akins@gmail.com

08077726199

Adopting The China Strategy: Aggressive Enterprise for National Development

http://www.ventures-africa.com/2013/03/towards-aggressive-enterprise-in-nigeria/

Posted on March 17, 2013 02:11 pm under Economic development, Economics, Fact & Comment, Opinions

VENTURES AFRICA –  Undoubtedly, China’s economical success is phenomenal. Some are challenged by it; some intimidated. And some feel threatened. I fall in the category of those challenged by it, and it fueled my curiosity to know how China achieved its present economic status. Several sources have analysed the transformation of the Chinese economy, but I laid my hands on a book titled: THE CHINA STRATEGY by Edwards Tse which attempts to narrate the enterprise side of the coin.

It is important to quickly mention that different people have their perception of the Chinese experience. While some condemn some of the approaches to building their national wealth with international prominence,  there is one that even though condemned, should never be ignored by any country aspiring to develop its economy: it is Aggressive Enterprise.
Edwards Tse started the first chapter of his book by stating Li Ning as one of China’s most recognizable faces. He shot to fame in 1984, winning six medals in gymnastics competitions at the Los Angeles Olympics, three of them gold. Since then, he has remained in the spotlight by becoming one of the country’s most successful businessmen as the owner of China’s largest sportswear company. The eponymous Li Ning brand has more than 7,550 retail outlets across the country and annual sales of more than $980 million.
 The Li Ning Company Limited is still tiny compared with Nike and Adidas, whose global revenues in 2008 were $18.6 billion and $15.9 billion respectively. But Li Ning’s growth is faster; its global marketing, still in the beginning stages, includes sponsorships of major leagues in the United States, Argentina and Spain.
 Then the 2008 Olympics went to Beijing. Li Ning was chosen to light the torch at the opening ceremonies in Beijing’s Bird Nest stadium, in front of a television audience of more than a billion viewers. The moment must have been particularly difficult for Adidas, which has spent a quarter billion dollars on Olympic sponsorship and marketing during the run-up of the games. Suddenly, here was not just one of China’s most famous Olympic gold medalist, but one of their leading business rivals- and a living symbol of the intent, ambition and competitive spirit of Chinese enterprise. In a handful of seconds, he stole the show from his western competitors.
More captivating to me is the next paragraph- “China has hundreds of thousands of Li Nings: entrepreneurs who have driven one of the fastest sustained national economic growth rates of any country in the world history. They may not all be as successful as Li. But after decades of being held back by their country’s adoption of socialism, they and the rest of the Chinese population are moving forward with the force of water gushing from a broken dam. The intensity of their aspirations, joined with the plans of the government and the presence of the country’s hundreds of millions of ordinary people, suggests that future developments in China will over-shadow even the momentous change in recent past- and in a way that affects the strategy, and even the identity of companies around the world (Italics mine).
From the foregoing, I like to stress …but one of their leading business rivals- and a living symbol of intent, ambition and competitive spirit of Chinese enterprise. An average Chinese has the spirit of enterprise and competition in the global economy. Another word that best describe the Chinese spirit of entrepreneurship is Aggression. This remains a truism.
While I join many others, particularly Development Economists who have pontificated the harm of globalisation and free trade economic policy by the world economic rules dictators, I must say that China has rather turned globalisation and free trade to its advantage. China has actually proved right the preaching of the proponents of free trade that openness is a veritable tool to economic prosperity.
As mentioned in a previous article, “A cursory look at the China’s approach with that of Nigeria reveals the Nigeria is also adopting Foreign Investment (through direct and portfolio investment) and the Local Content recipe.” Factually, one of the harm of free trade policy is such that a well industrialised country can freely export her goods (subject to duties) into a developing country which local market is struggling for survival. One should also bear in mind that a product processed with machine will produce more quantity and make consumer cost more affordable. This is one of the reasons why it is challenging for an average shirt maker in a country like Nigeria to compete with a global brand like TM Lewin. But China understands the fact that it takes aggression to be a player in the global economy and will settle for nothing in achieving this. Thus, the statement “tough times don’t last but tough people do”  points to China and the result is quite obvious.
An average Nigerian shares this spirit of enterprise. Irrespective of the environmental frustrations, few still grow successful enterprises while major part of the population struggle to sustain their ventures. For millions of those who are unemployed, the spirit is also there but the challenge is where to engage the spirit. It is rather unfortunate that in the midst of so much economic potentials in the country, the youth who make up about 70 percent of the population (the core of the country) are substantially inactive.
Furthermore, Tse mentioned in his book that there are hundreds of thousands of Li Nings, entrepreneurs who have driven one of the fastest economic growth rate  in the world. What readily came to mind is the imagination of hundreds of thousands of the likes of Aliko Dangote, Oba Otudeko, Mike Adenuga permeating every area of economic potential in Nigeria and their likes across the continent of Africa with huge turn-overs in their companies. Not only will the people never struggle with poverty, but the standard of living will greatly appreciate.
Nigeria should be able to focus on major field(s) for economic dominance, say I.T, Healthcare or tourism — a la the Indians. While I do not totally displace this kind of reasoning, I will say Nigeria is far blessed than that. Nigeria prior to the discovery of oil had earned so much from Agriculture and Mining. The advent of oil ran other sectors aground. If Nigeria has been so serious about becoming economically vibrant, adding the oil boom to the already thriving Agricultural, Mining and real sector would have quadrupled the nation’s GDP and Per Capita Income today with proof of good standard of living of the population. The use of technological advancement to facilitate production would have made a phenomenal impact in being a dominant player in the global economy.
According to Tse, after thirty years of opening and liberalizing its economy, nowhere else, not even among the mature markets of Japan, Europe, and the United States, offers the same extraordinary range of brands and products as China. For every drink, Chinese companies make their own versions of every international flavor- and many flavours that are not produced elsewhere. For magazines, there are Chinese editions of such familiar global titles as Cosmopolitan, Vogue, and Elle. Driving on the streets are locally manufactured vehicles from almost every global brand car maker  General Motors (GM) and Ford, Toyota and Honda, Volkswagen (VW) and its subsidiary Audi, BMW and Mercedes, Citroen and Hyundai- plus a host of local auto brands, including Chery, Geely, Brilliance, and Great Wall.
Tse stated further that over the next decade to two, the presence of Chinese companies and expected to make restructuring more likely in a wide range of other industries- among them automotive, shipbuilding, chemicals, energy, information technology and, possibly aerospace. This is the aggressive spirit of enterprise: this is the China spirit! A country like Nigeria is and will continue to seriously shortchange itself by ignoring every other area of economic potential and remaining unimaginative, so to speak.
At this juncture, it is pertinent to consider the role of the government in the cause of economic prosperity of the nation. While some people have severally stressed the fact that the people can prosper in their ventures without waiting for the government, I have consistently maintained the fact that the people will prosper more in their ventures when the government vigorously play a pivotal role in the cause. The role of the government starts with a dynamic vision. Nations around the world that we so much admire and love to identify with had the emergence of economic prosperity with visionary leadership and planning. This is the story of Singapore, South Korea, China, Japan, UAE and even Indonesia.
It is never enough to have a vision without an action plan and drive to realise it. Having visionary leadership and the drive of accomplishment is most vital. The vision in context is not a generic one but to initiate and enforce all factors necessary to propel aggressive entrepreneurship to achieve national wealth. That is the kind of vision that transformed the nations listed earlier. This action plan may be contained in a National Development Plan. I refer to this article where I dealt with the subject of National Development Plan extensively.
Budget, laws, policies and decisions are made on strict compliance to the vision and action plan. This should include provision of infrastructural facilities, access to cheap credit, regulation of product standard, enforcement of local content law, review of impeding laws and policies that tend to frustrate development process among others. By these, the government would have successfully created an enabling environment that will help ventures to succeed. Beyond that, more people will be open to new ideas in untapped areas and resources.
Furthermore, the Government will be living up to the spirit of its constitutional responsibility as contained in Section 16 of the 1999 Constitution (as amended) viz: Section 16 (1) provides that the State shall, within the context of the ideals and objectives for which provisions are made in this Constitution:
(a)   harness the resources of the nation and promote national prosperity and an efficient, a dynamic and self-reliant economy every citizen on the basis of social justice and equality of status and opportunity;
(b)   control the national economy in such manner as to secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity;
(c)    without prejudice to its right to operate or participate in areas of the economy, other than the major sectors of the economy, manage and operate the major sectors of the economy;
(d)   Without prejudice to the rights of any person to participate in areas of the economy within the major sector of the economy, protect the right of every citizen to engage in any economic activities outside the major sectors of the economy.
Subsection (2) of Section 16 states that the State shall direct its policy towards ensuring:
(a)   the promotion of a planned and balanced economic development;
(b)   that the material resources of the nation are harnessed and distributed as best as possible to serve the common good;
(c)    that the economic system is not operated in such a manner as to permit the concentration of wealth or the means of production and exchange in the hands of few individuals or of a group; and
(d)   that suitable and adequate shelter, suitable and adequate food, reasonable national minimum wage, old age care and pensions, and unemployment, sick benefits and welfare of the disabled are provided for all citizens.
To balance the responsibility in the cause of national economic prosperity, I should mention that we have a generation of people (young and old) who are not ready to go through the process, do the right thing the right way to get wealth. If we ask the government to re-organise its priority to building the nation’s economy, we should also be fair enough to re-organise our priorities and get ready to pay the required price to achieve sustained national development.
Conclusively, popular sayings;  Nigeria is blessed by God,  Nigeria is rich in resources, Nigeria has the brains and muscle to be a  major player in the international community will remain lip service if we fail to notice that the time has come to take full responsibility and dedicate our all to realise our God-given potentials, and that the economic prosperity we crave will only follow suit after strategic implementation of developmental policies and full participation from citizens and government alike.

Olusola Akinyemi Olusola Akinyemi is a Lawyer who is passionate about developmental issues. He is the author of a book on national development - The Rebirth: A Vision For Nigeria. Olusola is also the President of Joseph Initiative Ltd/Gte (a developmental NGO) in Abeokuta, Nigeria.

olusola.akins@gmail.com
+234 8077726199.

LEARNING CREATIVITY

LEARNING CREATIVITY 

About four years ago, I heard a senior folk advising a youngster who claimed to have passion for shoe making to get an Italian shoe, dismember it and learn the cutting of the leather, sowing and assembling the shoe. I also came across a book titled BAD SAMARITANS, THE GUILTY SECRET OF RICH NATIONS AND THREAT TO GLOBAL PROSPERITY by Ha-Joon Chang. In this book, Chang (a development Economist from South Korea elaborated this concept more.

He stated in page 11 of the book as follows:

“Today, Korea is one of the most ‘inventive’ nations in the world- it ranks among the top five nations in terms of the number of patents granted annually by the US Patent Office. But until the mid-1980s it lived on ‘reverse engineering’. My friends would buy ‘copy’ computers that were made by small workshops, which would take apart IBM machines, copy the parts, and put them together. It was the same with trademarks. At the time, the country was one of the ‘pirate capitals’ of the world, churning out fake Nike shoes and Louis Vuitton bags in huge quantities. Those who had more delicate consciences would settle for near-counterfeits. There were shoes that looked like Nike but were called Nice, or shoes that had the Nike swoosh but with an extra prong. Counterfeit goods were rarely sold as the genuine article. Those who bought them were perfectly aware that they were buying fakes; the point was to make a fashion statement, rather than to mislead. Copyrighted items were treated in the same way. Today, Korea exports large and increasing quantity of copyrighted materials (movies, TV soaps, popular songs), but at the time imported music (LP records) or films (videos) were so expensive that few people could afford the real thing. We grew up listening to pirate rock’ n’ roll records, which we called ‘tempura shop records’, because their sound quality was so bad it sounded as if someone was deep-frying in the background. As for foreign books, they were still beyond the means of most students. Coming from a well-off family that was willing to invest in education, I did have some imported books. But most of my books in English were pirated. I could never have entered and survived Cambridge without those illegal books.

This is really puzzling to me and I will rather conclude this here. I prefer to make a comment myself and allow readers to make their own comment or express their perception on the subject. This is because Nigerian has a very similar situation with the past of South Korea but won’t advance from the practice of piracy to being inventive of original products.

Olusola Akinyemi Esq.

President

Joseph Initiative Ltd/Gte

olusola.akins@gmail.com

08077726199