“Welcome to SS1. I will be your physics teacher. You have been used to Integrated Science where they lumped physics, chemistry and biology together. From today, you will study them as separate subjects. But let me give you a little history of how it all began. Before the end of the 18th century, the material component of the universe was studied as one aspect of culture called natural philosophy.

“But over time, natural philosophy was broken into two components – biological and physical sciences. Physical science comprises chemistry and physics with mathematics – the science of numbers – organizing everything. I will teach physics. Mr. Udeagu Jr will teach chemistry…” my recollection of my first day of physics class in secondary school as Mr Aham introduced the subject.

The central nervous system of political philosophy is the people. People are the structures just like natural philosophy which anchors the understanding of nature. For PDP, APC and LP to win in 2023, the structures must be living systems which can create disintermediation in the generation’s most OPEN election.  Share with me videos from APC, PDP, LP , etc rallies. This one is from Jos* for LP’s Peter Obi.

As banks move into holding company structures to compete against fintechs, understand that Nigeria’s politics is being redesigned by technology. Ensure your structures are still relevant because disintermediation is here. This election is #OPEN

Nigerian Presidency is Wide Open As Mobile Internet Could Disintermediate Old Political Structures

If you look deep into the market, Boards of companies do one critical thing: hire a CEO to lead a firm. And the CEO has to do another important thing: commit to a business model or business models, arising out of its business strategy framework. In other words, you hire a CEO to commit a company to a business model! And that makes the Business Model supreme for the success of a firm.

Tomorrow (Saturday) at Tekedia Institute Live, I will discuss the Great Business Models of the 21st century. Zoom link in the Board.

What Is Your Business Model?

Nigeria has secured a fresh $750 million loan from the World Bank, meant to help the country actualize its Nigeria State Action on Business Enabling Reforms (SABER) Programme-for-Results.

This was disclosed through a statement by the Washington-based lender titled? “Improving the Business Enabling Environment in Nigeria to Create Jobs and Boost Inclusive Growth.”

The loan, which is in the form of an International Development Association (IDA) credit, is consistent with Nigeria’s National Development Plan (NDP), which establishes an ambitious strategy for sustainable private-sector-led economic growth targeted at creating 21 million full-time jobs and raising 35 million people out of poverty by 2025.

The statement said the loan will help Nigeria accelerate the implementation of critical actions that will improve the business-enabling environment in states.

“The World Bank today approved the Nigeria State Action on Business Enabling Reforms (SABER) Program-for-Results. The $750 million International Development Association (IDA) credit will help Nigeria accelerate the implementation of critical actions that will improve the business enabling environment in states.

“Nigeria has made headway in pushing changes to remove barriers in the business climate, particularly through efforts spearheaded by the Presidential Enabling Business Environment Council (PEBEC),” it said.

But the bank warned that, in comparison to its counterparts, Nigeria’s ability to attract local and foreign investment remains limited. It said Nigeria’s 36 states and the Federal Capital Territory (FCT) are capable of catalyzing private investment, although their efforts and capacity to do so differ greatly.

“Given the importance of state-level reforms, the government developed a new program—SABER—to accelerate the implementation of critical actions that improve the business enabling environment in Nigeria’s states.

“The government’s SABER program builds on the successes of PEBEC. It aims to strengthen the existing PEBEC-National Economic Council subnational interventions by adding incentives, namely results-based financing to the states, and the delivery of wholesale technical assistance–available to all states–to support gaps in reform implementation,” the bank added.

In principle, the World Bank explained that all states in Nigeria and the Federal Capital Territory (FCT) are eligible for participation in the SABER program due to their capacity to implement significant reforms in areas such as land administration, public-private partnerships (PPP), frameworks and services for investment promotion, and the regulatory environment that supports business.

“Following the significant progress made by states on fiscal reforms through the State Fiscal Transparency, Accountability, and Sustainability (SFTAS) program, the SABER program endeavors to offer similar support to the states to undertake critical business-enabling policy and institutional actions that will incentivize private sector development.

“Private sector investments remain the major vehicle to create more jobs, increase revenues to the states and improve social and economic outcomes for citizens,” Shubham Chaudhuri, World Bank Country Director for Nigeria said.

SABER is designed, among other things, to assist states in enhancing the effectiveness of their land administration, the legal framework for private investment in fiber optic infrastructure, the services offered by investment promotion organizations and PPP units, and the effectiveness and transparency of their government-to-business interactions.

“Overall, the SABER program looks to consolidate and deepen business enabling environment reforms across more states,” said Bertine Kamphuis, task team leader for SABER. “The use of the Program-for-Results model, which ensures disbursement of funds after achieving results, helps the government in strengthening its own program by incentivizing institutional performance at the state level through results-based financing. States will be responsible for achieving the program results and thus will be leading the implementation of the program.”

However, the loan has come at a time when concern about Nigeria’s public debt is on the rise. Nigeria’s public debt has risen to N42.84 trillion as at June, according to data published by the Debt Management Office.

The concern has been that, amidst dwindling revenue, Nigeria will be spending more than 100% of its revenue soon on debt servicing.

I have been following the writing and speeches of Chief Ayo Adebanjo, the 94-year old leader of Afenifere, a pan-Yoruba cultural organization. As you read him, you see consistency, philosophical fairness, equity and justice. He does not twist things because it would favour the other side of the aisle; I admire his leadership. Take time to read his work, you will see a huge ideological gap between our modern “leaders” and those of Chief Adebanjo’s generation.

His commentary on rotational presidency is right on the money. Everything in Nigeria is based on quota, from university admissions to public sector jobs. Using the system, Nigeria builds fairness to bring everyone together and everyone accepts that constant. And if that is the case, the presidency should also be rotated as that is the quota system for politics.

But where Nigeria cannot adhere to rotational presidency, we must disband the federal character commission (the bureaucracy which manages our quota system) and follow MERIT in every aspect of our system!

Chief Adebanjo is thoughtful, fair and speaks with the wisdom of someone who does not need anything from anybody. I support his thesis. Do not remind me that he may be supporting Peter Obi. Remind me how he has supported others like Jonathan, etc to create balance in Nigeria.  #leader

Leader of the pan Yoruba socio-political organization, Afenifere, Pa Ayo Adebanjo, on Monday, restated the organisation’s position to support the presidential candidate of the Labour Party, Mr Peter Obi saying “he is the man we trust to restructure the country back to federalism on the assumption of office in 2023.”

He said Afenifere’s decision to support Peter Obi was because power is yet to shift to the South East.

Adebanjo, who addressed newsmen in Lagos, said Afenifere will not compromise its principle of equity, justice and inclusiveness because “one of our own, Asiwaju Bola Tinubu is a frontline candidate.”

Rotate the presidency or abolish all aspects of the quota system; yes, comparative advantages must not be selective.

Comment on Feed

Comment: Rotation has always been a bad idea.

My Response: I agree provided you do not rotate other things! If PDP had to jettison its constitution to avoid rotation, “bad idea” means nothing when you have a crazy universe!

Comment 2: This’ what true leadership is about: Equity and Fairness. These virtues must be strange to the current crop of political office holders in Nigeria; they’re only motivated by selfishness and greed. They’ll shift the goal post just to suit their selfish political needs not minding the ripple effects of such on the polity.

Comment 3: Rotation is not the solution to Nigeria’s problem.The solution is true federalism or confederalism.
Rotation will only promote tribalism and sectional agenda.
Pa Ayo Adebanjo is a good man today I hope he will still be a good man tomorrow when positions are no longer aligned.

My Response: He has advocated for fiscal federalism. But since that has not happened, he is doing the best he can. Check how he endorsed Jonathan many years ago. But also check how he fought for SW to own the presidency in 1999. Whether he does good next year or not, I am happy for his records in the last 94 years. No single man or woman can fix Nigeria alone. But the path of getting all Nigerians to fix Nigeria will come via fairness and equity. That is what Chief is saying.