There used to be a time when Nigerian leaders made things happen. This is Michael Okpara’s three year report. Look at the number of industries ( yes, industries, not companies) he opened in one year. When Sam Mbakwe was running his show, Imo State had a similar party. Go to the northern part of Nigeria, industries everywhere with Kaduna the industrial capital. Then, Awolowo was always overbooked for commissioning plants in Lagos. Nigeria was at its zenith on industrial development.

But today, where are we? Last year, 26 states did not attract a single FDI. Adamawa state made the list of outperformers because it attracted $20,000 (not a typo). You know what happened and brought this paralysis? The 1999 Nigerian Constitution, in my opinion. That document upended the comparative advantages within states.

It is that bad constitution that has made Sani Abacha a better economic custodian than most current political leaders. Babangida was light years ahead of these politicians when you note that he planned and built Abuja within less than 5 years. Some are ruling for 8 years with nothing to show.

When your strategy is wrong, even a great execution will diminish you. I do hope we revisit the 1999 constitution and bring fiscal federalism back.

Comment on LinkedIn Feed

Comment #1; We are seeing graft, corruption, and gross mismanagement. The constitution does not control or change politicians and people in power.

My Response; You wrote in irony. Without the constitution, corruption would not have scaled as we have now. People do not steal from themselves. If Abia does not get Abia working and at month end, it gets nothing from Abuja, then, you will see a different governor. But because it is sure something is coming at month end, it can relax. That is a grand corruption enabled by a bad constitution!

Comment 1 follow up: Not in irony. I’m sure the constitution does not permit mismanagement or corruption. So, it is redundant to change the constitution. It may seem to enable it but it’s more like post hoc fallacy. The underlining issue is the lack of accountability and enforcement mechanisms and I believe this lies more to culture than legislation.

My further response: This is the fact: Nigeria’s corruption of today is “grand corruption”. That will translate to ALL CORRUPTIONS. IBB spent 8 years in power, and built many things because he kept Nigeria’s money. OBJ spent 8 years using the new constitution, he spent that time sharing Nigeria’s money with states. What did OBJ do that cost money? Put GEJ and of course Buhari. The difference is clear: Abuja cannot plan because Abuja cannot even SAVE because constitution made it illegal: share all at month end is the law.

Comment #2: Whilst agreeing with you that the constitution needs to be re-jigged but the constitution is not all that is wrong with our country. How many of our governors’ have tried working on enabling environment for businesses? How many have gone around to meet with wealthy citizens from their States with a plan for where and what they can invest in. We have an irresponsible set of political leaders period. Let me start with my State Anambra. We have about the richest set of individuals as far as Nigeria is concerned. After Dr Chukwuemeka Ezeife have you heard of any of the recent ones canvassing for think home investment? Which part of the constitution prevents them from establishing industrial estates? Go and ask around, it is mostly Buhari’s mismanagement of our diversity and Nnamdi Kanu’s propaganda that has made some wealthy people to start moving their investment to the South East. I have lived and worked in Warri. It’s proximity to Onitsha makes it the Port of choice for the traders but youth restiveness have made even traders in Warri to start patronizing other Ports’ yet their governor’s have not deemed it fit to read the riot act to the rascals. Again I say it this constitution will not do us any good but the politicians have arguably done their worst not their best. How many are thinking of industries? We have people in diaspora who want to come back and invest, do you know of any State that has an office where such people can go to for guidance. Recent reports show that the industrialized countries have been stock piling metals that they think have low deposits remaining, how many of our governors’know the quantity of minerals in their States and what they can be used for?

My Response: “How many of our governors’ have tried working on enabling environment for businesses?” -there is no incentive for a governor to do that today because the system is designed to make them lazy. Yes – the state gets a huge alert in its bank account at month end whether it works or not. Also, its income is taxed by Abuja and that income is later shared. So, your gains on productivity are marginal and that is why most do not care since at the end, everything is shared together. With fiscal federalism, everyone runs at its own pace, pushing comparative advantages to rule.

Dear Member,

Let me begin by congratulating you for completing this academic excursion with Tekedia Institute. I am very confident that your business capabilities have been deepened, and that you are ready to go into the markets, and advance the wealth in nations.

We thank you for joining us for the 4th edition of Tekedia Mini-MBA. At 7pm WAT today, we will bring this edition to a closure (Zoom link in the Board).  On behalf of our Faculty, staff and the entire community, thank you for choosing Tekedia Institute for your learning journey.

From today, you are part of the Tekedia alumni community. Yes, today does not end the knowledge excursion; this is just the beginning of this co-learning and co-advancement relationship. (Because we do not like sending many emails, please open an account at hub.tekedia.com for updates. We created it to keep our members and alumni engaged.)

We will be back with Tekedia Innovation Week and Tekedia Career Week later in the year.

May 8, 7pm-8.30pm WAT | It’s Graduation Day  –  Tekedia | Zoom in board

Regards,

Tekedia Team

When the Greek philosophers postulated that the zenith of all knowledge is philosophy, they did not know that a Nigerian prophet was yet to be born. As they debated, pushing all the constructs on the foundation of natural philosophy, and crafting logic as the epicenter and finality of all knowledge, with the knowledge baptism of PhD (philosophy) as the height of formal knowledge pursuit, they did not get the memo from Prophet Tayo Olaniyi, HD.

Yes, when they give you a Doctor of Philosophy, Economics; Doctor of Philosophy, Mathematics;  Doctor of Philosophy, Electrical Engineering, etc, after your studies, the world is saying: you have mastered the logic of economics, mathematics, electrical engineering, etc, respectively.

But now read what Prophet Olaniyi has: HD, which is higher than degrees meant for small men and women (masters, PhD, PhD-Professors) and which are substandard to state-level Adam!

National Universities Communion (NUC), Nigeria, your classification of degrees is missing HD – and that needs to be fixed. Hahaha.

Do you create good content? You may be open for a really big party, as Twitter opens a new age in social media and the whole nexus of social conversations. Yes, if your Tweet is valuable and indeed bankable, someone can send you money via a new feature Twitter has introduced called Tip Jar; only few people are in that party now, but it would be open to everyone soon: “Only select groups of users have been invited to add a “tip jar” icon to their account, including journalists, nonprofits and artists, which allows for anyone on the site to send payment.”. 

Twitter promises not to take a cut, and all the tips go to the creator of the content. Indeed, that is the real support many people are looking for in this age.

Yes, he has 350,000 followers and he is still looking for a job. Sometimes, I do not understand how that is possible. For 350k people to have followed up, you must have been good on something.  Yet, it is possible that most of those followers were tricked with fake promises of jobs, and the usuals.

I expect Facebook, Instagram and possibly LinkedIn to join this redesign very soon. Pure and simple, the follows, shares, retweets, likes, etc may not matter that much as a better gold standard has emerged: ego, kudi, owo. Expect people to close posts with “ I prefer a tip in USD, not Naira” bringing another fight in Nigeria! The Central Bank of Nigeria (CBN) cannot have free air. Lol. Forex on Tweet!