For some of you who have read some of my articles, you might have noticed that I always share the experiences of my National Youth Service. This is because it was robust. I maximized the opportunity. From being elected the leader of my platoon to being made the NCCF Coordinator of my zone and later the CLO (Corps Liaison Officer) of the local government where I served, I learned important leadership lessons. In this piece, I will also draw from this source the importance of being disciplined as a leader. 

The leadership of my platoon was not accidentally bestowed on me, I prepared before I was deployed, and when the opportunity presented itself I contested with three others and won with a landslide. It is in my nature to be outstanding in everything I do, thus, I worked for my platoon to be the best of all the ten platoons in the orientation camp.  I had two hundred and thirty-four members (234) with a three-week of competitive activities. 

You will concur that power is sweet if you have held it before, but on the flip side is the burden of responsibility and this calls for self denial if the leader must achieve his goal. He must be able to choose between immediate and postponed gratification in the presence of lots of temptations and distractions. 

To fully appreciate this topic, I think it would be helpful for you to know the pleasures I forsook to achieve my goal. First the NYSC Orientation Camp is a place where many corps members have a common goal: to have the fun of a life time. Some of you know what I am talking about. Platoon leaders were like presidents with three weeks tenure. I had free publicity from a devoted member who served in the OBS unit. She occasionally sends me shutouts over the airwaves letting everyone know how wonderful I am. 

There were beautiful ladies asking me to take them out. The guys want to identify with me. Different interest groups came to ask for favors. I had the powers to create committees and appoint whoever I wanted to be in charge. I had unhindered access to the Camp Commandant and other important officers. In a nutshell, I was the custodian of the cookie jar. 

With these privileges, it is easy for a young leader to lose focus except with a steel resolution like that of the Hebrew Boys in Babylonian captivity during the reign of King Nebuchadnezzar. There were three platoon leaders who betrayed the trust of their members by exhibiting gross indiscipline in the steering of the affairs of their respective platoons. They had the fun of their lives. What I saw them do myself and the things I heard about them cannot be written. Mind you, I am not a saint either. 

So it happened on the bonfire day that their recklessness became obvious to everyone. The bonfire was the peak of all activities on camp with the platoons competing for the best native delicacy, best decorated platoon shed, best dance group, etc. It was a night of feasting and socializing around the fire. And so it was that platoons x, y, and z failed to make arrangements for this event. They could not even provide canopies and chairs, let alone fulfill other expectations. The population of my platoon swelled with many of their members coming under my shed. And for the fear of their platoon members whom they collected money from but could not deliver, they were no where to be found the entire night. 

Every opportunity to lead is a burden and for a leader to accept to serve he must sacrifice personal interest for collective interest, even if he is pursuing a personal vision, the expectation of the team members must be integrated. These three platoon leaders that failed on their mandates are some of the youths of Nigeria who are asking for the opportunity to lead the country. They were given a three week opportunity and they messed up. 

Leadership is not pleasure but pain; not gratification but sacrifice; not sleep but vigil; not pride but humility; not a feast but a fast; not stationary but motion; not debauchery but virtuous; not wishes but strive; not fear but courage; and leadership is not given but taken. Therefore if everyone can afford to be undisciplined, leaders cannot because the stakes are high. 

To lead, choose pain. Let’s make Nigeria great!

Covid-19, is this a blessing in disguise?  

First of all, I’m not a writer, I’m a financial analyst. I process information, think, and then relay it the best way possible.

We all know the coronavirus pandemic is going to affect our economy, but the real question is, how and where exactly would it hurt?

Unfortunately, the victim in this story is the service industry. Here’s why…

The service industry comprises the finance, investment industry, supply chain, entertainment, media, transport, sport, and insurance. These industries hold essential parts of the global economy, for example, consumer spending accounts for 70% of US GDP. 

How would this affect us as individuals?

This will be explained in two (2) possible scenarios,

First scenario identifies an economic impact that leads to a slight recession affecting only Q2 and Q3 2020, with economic recovery seen in Q4 2020. We expect to see a few layoffs and corporate bankruptcies’. 

The second scenario explains a period of prolonged contraction where economic crisis spreads throughout the year resulting in a financial crisis close to or even more severe than the financial crisis of 2008-09. This will lead to a significant distress in the world financial system and fall in global GDP. There will be a lot of layoffs resulting in a steep increase in unemployment, high corporate bankruptcies, and increase in poverty level.

Is there a good side to this pandemic?

Telehealth-5Gs lightning-fast speed near-instantaneous communication empowers physicians to treat, diagnose, and operate on patients without being physically close to them. Example, Telecoms ZTE designed a 5G-powered system that enables remote consultation and diagnosis to help during Coronavirus pandemic.

Teleconferencing – every employer can now see the need for remote working using platforms like google hangouts, zoom and so on. There’s a need for 5G connection at offices and homes to provide real-time and uninterrupted communication. 

Autonomous economy – autonomous economies are likely to be supported by an amalgamation of what we consider today to be disruptive platforms that, among other inputs, leverage AI. These platforms use deep and broad connectivity and continuous observation and adaptability capabilities. 

The world is moving on to a seamless connectivity and autonomous economy, and the sooner we realize that the better for us all.

Example, South Shore hospital in Nigeria piloted tele-medicine for consultation in order to reduce human contact.

Bar-llan University began the use of autonomous minibuses to transport patients, medical supplies, food and clothing to isolated hospitals in Israel.

How do you prepare yourself financially?

• For investors – if you have any investment, it’s probably looking very ugly right now or you have lost it all. Don’t obsess over it. If it’s ugly, don’t panic by selling off your holdings, you are locking in the losses, which means you won’t benefit from an eventual recovery. If you have been wiped out, recall in the 2008 financial crisis, it took only a couple years for the market to recover. So get ready to jump in and recover from the new opportunities the market brings.

• Build up emergency funds – common finance sense says you should have up to 6 months’ worth of expenses in your bank account. So if you are a little short on that, now is the time to start building up one as the peak of the pandemic is not yet known.

• Rebuild your resume – with decrease in demand, businesses are not going to be able to keep their entire staff on payroll. With that in mind, now is the time to improve your resume with extra skills and qualifications that will be useful for the post pandemic economy. You can also start looking for job opportunities, start connecting with people who might be able to aid your job search.

• Reach out to lenders – most people will already have their income drop as a result of the pandemic and might be hard to feed, pay rent or mortgages. Since most people will be affected, lenders may be willing to give out aids which will help you keep your family afloat.

• Look for ways to earn extra cash – everyone has something they can do to earn extra cash during situations like this, if you don’t, this will be a perfect time to learn new skills as a lot of people will need a lot of work done virtually, with higher focus on optimal cost implication. E.g. selling items, providing services, etc. this will help you keep your cash flow in this period.

• Insurance coverage – do you currently have any insurance coverage, check to see if you are not paying too much premium considering the current economic situation, if you are, find a way to negotiate lower premium prices to control/reduce your expenses.