In the early 1990s, Nigeria’s new generation banks were born. They used computers and networked systems to create a new basis of competition, knocking the incumbents out of the way. Indeed, deposit money in the Onitsha branch, withdraw it in the Lagos branch, and in the process, deliver a customer perception, a higher order experience, well ahead of needs, and expectations. Read how I explained this in Havard Business Review in 2010 – https://hbr.org/2010/10/mastering-the-apple-game-of-cu

As the era of AI kicks off at scale, new species of banks will be born in Nigeria, and they will transform the industry. I am calling them “AI-banks” because their genes would be made of AI (artificial intelligence).

The AI-banks will operate lean but will deliver positive customer experience even as stakeholders see great returns. Do you have an idea on how banks of the future will look like? Yes, Nigerian banking 3.0.  At Tekedia Capital, we will like to discuss. Connect here and let us discuss investments.

Daily, we talk of oil in Nigeria. But in the real scheme of things, crude oil is a small part of our existence. Yes, oil and gas sector brings in less than 5% to our GDP composition:  “The non-oil sector contributed approximately 95.30% to Nigeria’s GDP in the last three months of the year. Key industries such as finance, telecommunications, agriculture, trade, construction, manufacturing, and real estate have been instrumental in driving this growth.”

Of course, when it comes to foreign earnings, oil & gas flips things, hitting excess of 80%. It is like this, using villages to illustrate:

Village A: 1000 employable people live here, but only 10 people have good oil & gas jobs and are paid very well. Another 30 have yoyo kind of jobs and barely make progress. However, at the end of the month, the village has $10 million in their bank account, largely generated by the 10 people. That fund is mismanaged by 5 people who serve as village managers. With limited economic activity, GDP (aggregate of economic activities towards production of finished goods over a period of time) is $100m as most people do not have jobs.

Village B: 950 out of 1000 employable people have average jobs and can generate just $1m monthly in the bank. Most people here are involved in many sectors with massive economic activities; GDP is $300m and employment is full.

Nigeria mirrors Village A where the magic of oil earnings triggers many economic optical illusions. It is key to note that agriculture remains the LARGEST contributor to Nigeria’s GDP, and the most important sector to anchor improved welfare and prosperity to most communities!

(Of course, oil & gas is invaluable; Nigeria just needs to get deeper into petroleum, chemicals, refining, etc to deepen the GDP contribution of the broad sector)

Daily, we talk of oil in Nigeria. But in the real scheme of things, crude oil is a small part of our existence. Yes, oil and gas sector brings in less than 5% to our GDP composition:  “The non-oil sector contributed approximately 95.30% to Nigeria’s GDP in the last three months… pic.twitter.com/eN43PneHdx

— Ndubuisi Ekekwe (@ndekekwe) February 23, 2024

Drawing Parallel with Saudi Arabia on economic diversification, as non-oil sector contributes 95.30% to Nigeria’s GDP

A product whitepaper is a document that provides detailed information about a product, its features, benefits, and use cases. It is usually written for a technical audience, such as developers, engineers, or IT professionals, who want to learn more about how the product works and how it can solve their problems.

Crypto whitepaper is crucial for anyone interested in investing in cryptocurrency projects. These documents provide essential insights into the fundamentals of crypto or blockchain-based projects, helping readers make informed decisions. Let’s break down the key components of a crypto whitepaper:

A well-structured product whitepaper should have the following elements:

A catchy title that summarizes the main value proposition of the product and attracts the reader’s attention. An introduction that explains the purpose and scope of the whitepaper, the target audience, and the main problem or challenge that the product addresses.

A background section that provides relevant context and background information about the problem or challenge, such as industry trends, market research, customer pain points, or existing solutions. Here, the project outlines the specific issue or issues it plans to address. It’s essential to understand what problem the project aims to solve and why it matters.

A solution section that describes how the product solves the problem or challenge, highlighting its key features, advantages, and differentiators. This section should also include diagrams, screenshots, or examples to illustrate how the product works and how it can be integrated or deployed.

The heart of the whitepaper lies in its proposed solution. This section explains how the project intends to address the identified problem. It covers technical details, architecture, and innovative features.

Understanding how tokens will be distributed and allocated is crucial for investors. Whitepapers should provide clear details on token distribution, vesting periods, lock-up periods, and any other relevant information.

A well-structured whitepaper includes a roadmap that outlines key milestones and development phases. Investors can evaluate whether the project has a clear plan for execution. Information about the team behind the project is essential. Whitepapers typically introduce key team members, their expertise, and their roles in achieving project goals. While not always explicitly stated in every whitepaper, legal considerations are crucial.

Crypto whitepapers often contain technical information about the project, including underlying blockchain architecture, consensus algorithms (such as Proof of Work or Proof of Stake), data structures, and cryptographic protocols. These aspects help readers assess feasibility, scalability, security, and innovation.

A conclusion that summarizes the main points of the whitepaper, reiterates the value proposition of the product, and provides a clear call to action for the reader, such as requesting a demo, signing up for a trial, or contacting a sales representative. A reference section that lists the sources of information used in the whitepaper, such as research papers, articles, reports, or testimonials.

A well-structured product whitepaper can help you showcase your product’s capabilities and benefits, educate your potential customers, and generate leads for your business. It can also help you establish your credibility and authority in your industry and differentiate yourself from your competitors.

Therefore, it is important to follow these guidelines and write a clear, concise, and compelling product whitepaper that will engage your readers and persuade them to take action.