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

NATIONAL INTEGRATION: THE GANDHI STORY

NATIONAL INTEGRATION: THE GANDHI STORY

Once in India, there was a set of people living in some villages; sleeping on the ground as they had no bed to sleep on. They had no running water. Their cows slept in the same little huts and little rooms with them. If they had chickens, the chickens slept in the same room too. They relatively had no comfort of life. Those people were the untouchables. The caste system had existed for years. These were the people who worked the hardest, and they were trampled over by the Indian people themselves.

Mahatma Gandhi looked at this system and couldn’t stand it. He looked at his own people and said, “Now you have selected me, and you’ve asked me to free you from the political domination and economic exploitation inflicted upon you by Britain, and here you are, trampling over and exploiting seventy million of your brothers.” So, he decided that he would never adjust to that system and that he would speak and stand up against it for the rest of his life.

The first thing he did was to adopt an untouchable girl as his daughter. His wife, a member of one of the high castes, thought he was crazy. She said, “What in the world are you doing adopting an untouchable? We are not supposed to touch these people.” He said, “I am going to have this young lady as my daughter.” He brought her into his ashram, and she lived there. He demonstrated in his own life that untouchability had to go.

One day, Mahatma Gandhi stood before his people and said, “You are exploiting these untouchables. Even though we are fighting with all that we have of our bodies and our souls to break loose from the bondage of the British Empire, we are exploiting these people and we are taking their selfhood and their self-respect.” He said, “I will refuse to eat until the leaders of the caste system will come to me with the leaders of the untouchables and say that there will be an end to untouchability and the Hindu temples of India will open their doors to the untouchables.” And so he refused to eat as days passed.

Finally, when Gandhi was about to breathe his last breath, and his body was all but gone, a group from the untouchables and a group from the Brahmin caste came to him and signed a statement saying that they would no longer adhere to the caste system. The Priest of the temple came to him and said, “Now the temples will be opened to the untouchables.” That afternoon, untouchables from all over India went into the temples and all these thousands and millions of people put their arms around the Brahmin and people of other castes. Hundreds of millions of people who had never touched each other for two thousand years were now singing and praising together. This was a great contribution Mahatma Gandhi brought about.

This story points out the indispensable role of leadership in national integration. It took the moral leadership of Mahatma Gandhi to influence the leadership of the Brahmin caste and the leadership of the untouchables to re-align.

How can Nigeria learn from this to achieve our national unity?

History has thrust upon our generation an indescribably important destiny - to complete a process of integration which our nation has so long developed too slowly, but which is our most powerful opportunity for development. The clamour for convening a Sovereign National Conference by the Federal Government is over a decade and half old. The purpose is for all parts of our national existence to come together, deliberate on the subject of unity and how we hope to move our nation forward. But the Federal Government as severally constituted has given several excuses to decline this call. The question to ask is, is there no other way out for our integration other than through a Sovereign National Conference?

From the Gandhi story, national unity substantially needs leadership to become a reality. Leadership as we all will agree has influenced or compounded the situation in the nation at one point or the other. Now, what we have are leaders of various ethnic groups making public pronouncements that they are first members of their ethnic groups before being Nigerians. I wonder what more could threaten national unity than such statements.

Worthy of note however is the fact that we have followers in this country who have a default mode of loyalty. Where their leaders go, they go. This is a clear proof that leadership is influence. So ethnic groups are in conflict because leaders are in conflict; whether they incite it or overlook it. People of different religions can peacefully co-exist with the influence of religious leaders and Nigeria can operate in peaceful co-existence if leaders allow it.

However, it is essential to note that several factors, positive or negative, influence the thoughts and deeds of leaders. They include pride or humility, greed or selflessness, experience or in-experience, personality type, wisdom, counsel, loyalty to a few at the expense of the populace, power wooziness, bribery and corruption, to mention a few. But in all, the essence of leadership is to work for the good of the people, promote a safe and better environment for all and give hope to all. Success in leadership demands priority to leadership than the leaders themselves.

As we have noted earlier, leadership is influence. It may be necessary to attempt to identify leaders that can be instrumental in achieving national integration in Nigeria. In no particular order, they include:

1.      The Nigerian President

2.      Senate President

3.      Speaker of the House of Representatives

4.      Governors’ Forum

5.      Elder Statesmen

6.      The Judiciary

7.      Christian Association of Nigeria

8.      Pentecostal Fellowship of Nigeria

9.      Islamic Society of Nigeria

10. Yoruba Council of Elders

11.  Arewa Consultative Forum

12.  Northern Nigeria Leaders

13.  Ohaneze Ndigbo

14.  Ijaw National Congress and other ethnic group leaders

15.  Royal heads and Chiefs

16.  Civil Society Leaders

17.  Community Leaders

18.  Youth Leaders

This list is not exhaustive, but those mentioned will go a long way in helping to achieve national integration. It is important to state that before we talk about integration at the national level, there is need for re-alignment at the regional levels because when neighbouring ethnic groups are not in alignment, national integration will be cosmetic.

On the way forward, it would have been remarkable if we had someone with the Gandhi influence in Nigeria. But in the absence of such, it will be laudable for the Nigerian President to take responsibility for this integration project. Reconciliation is an indispensable pre-requisite for growth and massive development, hence the need for a National Reconciliation Agenda. The President may set up a National Integration Committee to facilitate this.

Bearing in mind the list of leaders above, it will be auspicious to phase the integration project. The first phase should be at the geo-political zone level. The facilitating committee should work with leaders in each geo-political zone for reconciliation, harmonisation and peaceful co-existence.

After this has proved to be substantially productive, the integration at the national level may be organized with leaders representing parts of each geo-political zone. When the spirit of reconciliation and integration at the geo-political levels has penetrated and permeated the leaders and is yielding results, integration at the national level will be a lot easier.

Ultimately, Nigeria will become a united nation where though there are over 250 ethnic groups; there will be a sense of common nationalism. The Federal character principle will no longer be pronounced. We will have a Nigeria where I will be a Nigerian first before asserting the fact that I am a Yoruba man. We will be able to live to the true meaning of the creed contained in the introduction of our Constitution which states that-

WE THE PEOPLE of the Federal Republic of Nigeria:

HAVING firmly and solemnly resolved:

TO LIVE in unity and harmony as one indivisible and indissoluble sovereign Nation under God dedicated to the promotion of inter-African solidarity, world peace, international co-operation and understanding:

AND TO PROVIDE for a Constitution for the purpose of promoting good government and welfare of all persons in our country on the principles of freedom, equality and justice and for the purpose of consolidating the unity of our people:

Indeed, there is amazing power in unity. When we have true unity, every effort to disunite us will only strengthen our unity. We will be wrapped in a single garment of destiny. Whatever happens to one will be viewed as happening to all. The proverb that says, ‘The first camel on the line moves as quickly as the last’ - whatever affects anyone of us has effect on every one of us - will be our spirit.

Having an understanding of our individual ethnic uniqueness and an agreement to achieve a common purpose as a people will aid love, tolerance and hospitality in the nation. From this, we will be able to have a consensus on how best to move our nation forward with dedication and hard work.

This is an excerpt of the book titled, THE REBIRTH, A VISION FOR NIGERIA written by my humble self. 

Olusola Akinyemi Esq.

President

Joseph Initiative Ltd/Gte

olusola.akins@gmail.com

08077726199

REVIEW OF: THE REBIRTH- A VISION FOR NIGERIA

By now, children who grew up in the late 1980s and early 1990s will be tired waiting for the return of a moment of comfort and better life which, according to their parents, existed once.

But, will Nigeria ever experience better life again? Olusola Akinyemi answers this question in his latest book: ‘The Rebirth-A vision for Nigeria,” that the country can get back on its foot again.

The introduction of the 89-page book, mirrors how negative value system, corruption, bad governance, misappropriation of public funds, among other vices, have combined to truncate the several attempts at development - from Vision 2010, to the realisation of yet to come Vision 20:2020, and even lately 2025.

Notwithstanding the impediments, the author through the book spurs the readers on how to project into Nigeria’s future and ways to achieve viable development across board.

The author moves ahead in the eight chapters with issues and solutions to the national discussion.

Probing the past in order to get to where the country is at present, the author delves into the unification of Nigeria. And very obvious in Nigeria’s history, according to him, is the British colonisation experience that started with the emergence of Royal Niger Company, a trading company, UAC, among others, that had far reaching consequences for the regions they traded in then.

Fredrick Lord Lugard’s effort at the amalgamation of the Northern and Southern Protectorates into one country in 1914, and the unification of Nigerians despite their political, cultural, religious and tribal difference, were given the required emphasis.

Citing example with the Gandhi story, he clears the air on how to achieve a true national integration. Upholding a working National Value System because the state of the nation today is partly to the fact that Nigerians have lost touch of the value system. To make progress as a people, the author notes that we need to identify some of the vices that have brought us to where we are today.

The rationale behind the rebirth is the fact that attempts to move the nation forward with a faulty value system have failed in the past.

Paramount to the rebirth is true economic prosperity as independence remains incomplete unless and until it comprises of political, social and economic independence.

Going by Nigeria’s gross domestic product estimated at $273.042 and per capita income of $1.657.292, according to International Monetary Fund, the figures are relatively on the good side, but the author argues that that does not translate to the economic realities in the nation.

The Nigeria that will be embraced by all should be one that empowers many of the 60-70 percent of its population living below the poverty line.

In the present growing insecurity in the country, the author thinks the solution to security challenge is not state police but equipping and addressing the frustration of the Nigerian Police in carrying out their duties.

National database of all citizens and visitors and investment security surveillance equipment and trainings will aid security across the country.

The health of the people has been neglected for long and part of the rebirth is ensuring and sustaining an efficient healthcare system. This will improve productivity and create wealth. But tourism and the culture sector, according to him, should be given the required attention because they support green economy, create jobs, develop skills and encourage peace.

He, however, called on non-governmental organisations in the country to support and partner in development efforts across the country by becoming more professional and efficient.

On a final note, the content of the book is geared towards instilling the spirit and values necessary for the development of the country in every Nigerian.

Title: The Rebirth-A vision for Nigeria

Author: Olusola Akinyemi

Publisher: Bookvine

Page: 89

Reviewer: Obinna Emelike

http://www.businessdayonline.com/New/index.php?option=com_content&view=article&id=48639%3Athe-rebirth-a-vision-for-nigeria&catid=160%3Aart-a-life&Itemid=603

ACTIVE YOUTH PARTICIPATION A PANACEA FOR DEEPENING DEMOCRATIC PROCESSES IN NIGERIA

ACTIVE YOUTH PARTICIPATION A PANACEA FOR DEEPENING DEMOCRATIC PROCESSES IN NIGERIA

I will like to begin with a quotation: “Young people should be at the fore-front of global change and innovation. Empowered, they can be key agents for development and peace. If, however, they are left on society’s margin, all of us will be impoverished. Let us ensure that all young people have every opportunity to participate fully in the lives of their societies”- Kofi Annan, Former UN Secretary General.

A cursory look at Nigeria’s population statistics for instance shows that youth are over 54%. Essentially, Government decisions, laws and policies affect the youth more; activities of democracy have more impact on the youth- in terms of leadership, development programmes, economic empowerment, job creation and security among others. The simple question to ask is that why should the youth not be active in democratic process.

Young people have been identified as having higher propensity to engage in change. In fact, I have often described the youth as the strength of the nation. They possess deep insight into the perception of change in society and the continuity of those changes. One of the most innovative leaders Nigeria has had since independence is Gen. Yakubu Gowon who became a Military Head of State at the age of 32. Records of his achievements in office still speak for itself inclusive of which is the National Youth Service Corps (NYSC) Scheme geared towards fostering national integration after the Civil war.

It is therefore apposite to utilize the strength of the youth. This will be by firstly investing time and resources in them as a mechanism of promoting and influencing democratic process. This is workable through education for re-orientation and redirection of the youthful strength towards nation-building. Youth never lack capacity for intellectual creativity; the question is what is it expended on? Another part to this is that some have ideas on proffering workable solutions to matters of national importance but would rather give-in to the withdrawal syndrome (meaning leaving democratic process to anyone who may not even have any idea and capacity to influence positive change). Education is therefore quintessential.

Furthermore, conferences, symposia, workshops and debates could be organized not just to train or enlighten the youth in their participation on democratic process, but to provide platform for sharing their thoughts and perception to democratic process and influencing societal change. This is one of the objectives of Joseph Initiative.

Also very important is the willingness of the leaders in government and political parties to give opportunity to well-meaning youngsters who are not just interested in talking the talk but also wants to work vigorously in making the society better. The elders need to know that success of the future lie in the youths. More importantly, what is needed is the effort all citizens to change the present picture and to build a healthy society by engaging the youth to expose themselves to the struggle, encouraging them to be leaders of the future, equipping them with knowledge and role they have in society, providing them with the venue to re-double their participation in the lives of their society and developing their knowledge and awareness on the real issues facing the society.

Finally, youth should establish more political and social movements that inspire change as in the western democracies. This will definitely demand the development of initiatives of mobilizing and organizing its own constituents, inside and outside the country and subsequently realised in awareness and action. It is also very essential that political parties, civil society organisations, and others to build a close working relationship with the youth movement to the extent of providing them with material and policy support that can help them to engage meaningfully in the struggle for democracy.

In conclusion, I must state that the youth are currently utilizing the social media platform to participate in democratic process. However, while online advocacy can make point or contribution, physical participation will influence far more and it is to this end that I have discussed the above as a panacea for deepening youth participation in democratic process in Nigeria.

 

Olusola Akinyemi Esq.

President

Joseph Initiative, Lagos

Tel: + 234 (0) 8077726199

Email: Olusola.akins@gmail.com

PUBLIC WELFARE + PRIVATE GAIN

PUBLIC WELFARE + PRIVATE GAIN

Adam Smith (the father of modern economics) in the 17^th century stated that we do not get our daily bread through the kindness of the baker, but rather because the baker needs to make money. Our own interest in eating bread is satisfied through the greed or desire of another person. This is a clear paradox. The object of this piece is to analyse and create a balance between private gain and public interest. It is important to know that there is no sustainable private gain without public interest and vice versa as the absence of either will continually threaten the survival of the other.

Bernard Mandeville in 1705 once claimed that private vices could turn into public benefits. Years later, the editor of Denmark and Norway’s Economic Magazine expressed a common reaction to Mandille’s assertion that public welfare was caused by private vices. In our current reality, these private vices may be described as economic activities, entrepreneurship, leadership, knowledge etc. I have always maintained that the spread of private good is what culminate into real national success. After-all, no nation grows beyond the quality of the people’s lives and their activities.

In his book titled How Rich Countries Got Rich …and Why Poor Countries Stay Poor, Erik S. Reinert stated that the formula for solving this problem and consolidating the theory of market economy as expressed by Milanese economist Pietro Verri: ‘the private interest of each individual, when it coincides with the public interests, is always the safest guarantor of public happiness’. Reinert stated further that the role of the legislator was seen as creating the policies that made sure that individual interests coincided with the public ones.

At this juncture, I will like to do an analysis of the roles of private citizens- individual and corporate persons on the one hand and the public- the Government on the other hand in mutual benefit and overall happiness.

Private vices have been described as economic activities, entrepreneurship, leadership, knowledge etc. We should know that the spirit of dealing in our ventures which is a reflection of our values has effect on the general public interest. An American economist William Baumol once distinguished between productive, unproductive and destructive entrepreneurship. To the extent that we will agree that entrepreneurship operates in an environment of competition and profit making, it should never be at the expense of public good.

In the Law of Contract, there is what we describe as Consideration which is an essential ingredient of every contract. Consideration here simply means value which could be money, goods or services. It is a principle in the law of contract that there must be exchange of consideration i.e. exchange of value. This consideration ought to be exchanged with good faith/intention. Scheming to get more than one is giving or at the expense of any one concerned is a product of bad faith and against public interest.

On leadership, John C. Maxwell once said that leadership is more important than the leader. By this, he meant that the responsibilities and purpose of being a leader is more important than the leader’s personal gain. Leading in the right spirit of leadership will most assuredly put an end to corruption. We should also note that leadership is influence and it is not required that one occupies an office to be a leader. Apparently, there are people who also influence those occupying offices of leadership- they are also leaders as we can reasonably agree.

Ha Joon Chang, a South Korean Development Economist described corruption as a violation of the trust vested by its stakeholders in the holder of offices in any organisation, be it a government, a corporation, a trade union or even an NGO (non-governmental organisation). From this, every leader must live up to the trust vested in him/her by stakeholders. I love the description as it exposes corruption beyond government offices.

Knowledge is essential in public and private good in national development. I have heard of a statement “What you don’t know can hurt you” just as we know that ignorance of a law is no excuse from being caught up with it. Ashraf Ghani, a former Finance Minister in Afghanistan also said at a TED presentation in 2007 on mobilizing capital for state building that the greatest poverty is the poverty of knowledge. Take for instance, an entrepreneur may be doing all to kill competition in his line of business while ignorant of the fact that the future of the industry is in constructive competition. A knowledgeable entrepreneur will understand that killing competition is destructive entrepreneurship, but working more at being the best in the industry in the midst of competition has overall public interest. Really, the interest of entrepreneurs should extend beyond self-enrichment to the creation of national wealth and pride.

A political leader in position with knowledge will know that it is bad leadership to misappropriate funds earmarked for healthcare in the state as this will increase death rate, maternal mortality and infant mortality among others. At the end of his public service, he might not have amassed wealth meant for public good to his or herself but he/she would have enhanced a better society, state or nation.

Before I discuss on public vices for private interest, I should state that when there is a balance in private gain and public interest, not everyone will be rich to afford all the luxuries of life but a larger percentage will live comfortably- a decent apartment, able to afford feeding, afford education, afford healthcare among others. A lot of the things that appear as luxuries will be common experience. For example, an average young and employed graduate or entrepreneur being able drive a brand new Toyota Yaris or Hyundai Accent and living in a decent Mini flat (at least) will not be luxury (possibly through scheme or so).

Ultimately this will create an environment that will encourage creativity and innovation for the future prosperity for the individual and the nation. Ha-Joon Chang in his book Bad Samaritans: The Guilty Secret of Rich Nations and Threat to Global Prosperity said- “countries are poor not because their people are lazy; their people are lazy because they are poor”. There is an undescribable benefit in a level of comfort in achieving progress.

One the role of the public vices in private benefits, I earlier made reference to Reinert’s statement that the role of the legislator was seen as creating the policies that made sure that individual interests coincided with the public ones. The public vices can be interpreted as government policies, laws, programmes, development plans.

People of means naturally have desires for comfort and will do almost anything to achieve this. It is the responsibility of the government to see to it that these desires for comfort or affluence are not against public interest. There is also a class of people, who seem quite helpless on how to achieve comfort for themselves; it is still part of the duties of the government to achieve public welfare and happiness. So the government through laws and policies manage public good. The absence of strategic development plan for economic progress and public interest will create a state of chaos and perpetual disorganization in the society. Whereas, economic growth is a major guarantor of political and social stability.

National development as opposed to private affluence is the real solution to a balanced public welfare and private vices. This is essentially the responsibility of the government. The main factor in national development is resources demanding performance which the government must utilize and manage. Optimal functioning of the government will create an auspicious and regulated environment for private good. When an assessment is to be done on a nation’s level of success, it is the success of the people achieved through the enabling and regulated environment created by the government that will be the subject of assessment.

In conclusion, the people and the government should wake up to take responsibility for the good of one another. This is in view of the fact that there is no sustainable private gain without public welfare and there is no real public welfare without private gain. This is the situation in countries known as economic powers- US, China, U.K., South Korea, Singapore, Japan and others.

Olusola Akinyemi Esq.

President

Joseph Initiative, Lagos.

Tel: +234 80 777 26199

Email: olusola.akins@gmail.com