I hadn’t intended to share another post this soon, but yesterday’s tragic incident at the commercial nerve centre is not one to be ignored.

A loaded fuel tanker exploded at Upper Iweka, Onitsha and a vast portion of the area has been gutted by fire on Wednesday, 16 October 2019. According to an eyewitness, buildings and business premises close to the scene of the fire, extending to Ochanja Market were affected.

What’s more shocking, as captured by a resident and reported by TheCable, was that

“Many buildings are on fire and the firefighters are nowhere to be found…” 

I must reiterate as I did in my paper exploring 51 Iweka Road in particular, the fome of Nollywood (Nigerian Movie Industry):

“..Two cities Onitsha and Nnewi (which is more like a town) serve as the backbone of the economy of Anambra state. Onitsha, on the one hand, has strong trade links with many parts of the country and with
many overseas countries. Its market is described as the largest in West Africa. On the other hand, Nnewi, which is the second most economically vibrant centre after Onitsha, has virtually become the automobile spare parts market for the nation and a fast-growing industrial centre.

In the light of this tragic incident, and the accompanying “no response” from relevant authorities to tackle the blaze and prevent its spread, I am proposing that the least that can be done at this time is a fast-paced, two-pronged approach of rebuilding the commercial hub that has being “substituting for the State” (according to Deborah Brautigam), and ameliorating the losses of protagonists in this high drama. Breaking these into their component parts, it is only appropriate to undertake these two tasks as follows:

First, compensation for losses incurred (both financial and human).

Second, ring-fenced funding for reconstruction of the commercial hub. With strategies put in place to prevent recurrence of this tragedy.

Further Reading:

Brautigam, D. (1997) Substituting for the state: institutions and industrial development in Eastern Nigeria, World Development, 25(7), 1063–1080.

Madichie, N. O., & Nkamnebe, A. D. (2010). 51 Iweka Road (Onitsha, Nigeria): could this single African address redefine business cluster development? World Review of Entrepreneurship, Management and Sustainable Development, 6(3), 229-243.

I have never doubted the value of experience, and I am not hoping to do so anytime soon. They say it’s the best teacher. I learnt not to put my hands in fire because I got burnt the first time I tried to do so. Infact,  many of the things we do today was learnt after we must have tried so many times, just like walking for instance. So experience is good, but still…

There are many economic and age related issues, making it more difficult for  younger workers to break into the current job market. Many think they lack the needed depth and professionalism needed to deal with work related issues. In reality it isn’t exactly clear black and white terms. Zlatan ibrahimovic is almost 40, yet he outperforms many footballers in their teens and twenties.

In another instance, the brilliance of the golden boy Mario Gotze was able to outshine the experience of the veteran German Striker Miroslav Klose in the World Cup final between Argentina and Germany in 2014. It took a moment of brilliance from the young player Gotze to score the winning goal in extra time, after being brought in to replace the German Legend who just couldn’t find his pace in that particular game.

The debate can go on for as long as you want to,  but here I will try to give some reasons why you may want to hire someone younger the next time you’re thinking of hiring someone. Though this depends on what whoever is hiring is looking for.

1.New Perspective

Young employees tend to bring fresh ideas and a different way of thinking to your business. They are more willing to learn and build their experience along the line. This drive and excitement is good for every team. If the organization is also aimed at reaching out to a younger audience,  young people are more likely going to relate better with these group of people. 

2 .Technology Adaptation

Most young people, say millennials, grew up with technology. As a result, they are more likely to adapt to technology quicker than the older generations in the workforce. Especially in the use of software technology, young people adapt more readily to the rapidly changing and dynamic digital space.

3.Affordability

Young people are more likely to receive lower wages for doing a particular job than older workers. Yes, generally they get paid less than the average big portfolio man. 

4. Energy and Affordability

Generally younger workers are more energetic and adapt better to changes in the economic and political spheres. They are more likely to relocate also. 

5. Health

Younger workers are less likely to complain about failing eye-sight, waist pain, indigestion and high blood pressure. This doesn’t mean that all older workers have to deal with these, but you know, you never can tell.

This article  isn’t trying to underestimate the value of experience in anyway. Experience is valuable and cannot be thrown aside. Whoever does so is doing it solely at his own risk. The article is only trying to give you reasons why you may have to carefully weigh your options to know exactly what you need as the case may be.

After months of partial experimental closure of Nigerian land borders, the Nigerian Government has decided to close them totally. The decision to shut the borders completely came after the Nigerian Custom Services claimed it is generating more revenue from the seaports as a result of the closure.

In a recent meeting with the National Assembly’s Committee on Finance and National Planning, the Comptroller General of the Nigerian Custom Service, Hammed Ali, praised the initiative. He said that it has opened an unexpected economic door to Nigeria.

“There was a day in September that we collected N9.2 billion… it has never happened before.” He said.

The Minister of State Petroleum Resources, Timipre Sylva, also indicated that there has been a significant drop of eight million liters in fuel consumption. An evidence of immense smuggling of petroleum products aided by Nigerian security personnel.

The entry of rice, cars, chicken products and so many other goods and services that originate from neighboring African countries have also reduced drastically.

It is based on these developments that the Nigerian Government has vowed to keep the borders closed until the neighbors get their acts together: Mainly, quelling the lax that has enabled smuggling of contraband goods into Nigeria and petroleum products out of Nigeria.

To keep the momentum that has yielded such a result, the Federal Government of Nigeria has commissioned a joint task force comprising customs, immigration, police and the military to keep unrelenting check on the borders.

However, the decision of the Nigerian Government to shut the borders has come against Ecowas rules of integration and the free movement of goods and services within the region. And the implication goes beyond breaking the rules to hurt the export of local products of Nigerian origin.

Scrap copper, tanned goat hides, cocoa butter, rubber etc. Most of these goods produced in the North, East and Western Nigeria make their way to other African countries through land borders – each contributing a huge sum to the GDP.

According to the Nigerian Government, the exports have to be done through the waters until further notice. It’s a development that the local producers of these goods are not accustomed to or ready to take on now. Because the cost is far higher and will result in increment of the export products which will negatively impact the trade.

The African Continental Free Trade Area (AfCFTA), signed by Nigeria in July has also been totally breached. The integration and free trade agreement have been jeopardized by the border closure. It has also instigated retaliatory responses from neighboring African countries with Niger Republic threatening to shut her doors against Nigerian goods.

While Nigerian Government is celebrating it as a win, experts are decrying the impacts and the precedent that it is setting: “It is a clear violation of international trade policy that will bring economic woes than remedy.” They said.

The National Bureau of Statistics (NBS) just announced an increment in inflation; from 11.02% to 11.24%, a development that experts attributed to the border closure. There has been a notable hike in the price of food items; the  Nigerian people will have to add to their existing struggle with hunger.

The brute spikes are likely going to hit with more severity since the government is more interested in the increased revenue generation emanating from the border closure. There is also concern that the increased Nigerian Custom revenue will become a bait that will lure Nigeria back to recession.

The Nigerian Government has been urged to reconsider its stand since it admitted that the prevalence of smuggling has been mostly as a result of corrupt Nigerian Custom Service. Some have suggested that Nigeria should pull out of AfCFTA before her actions and inactions immobilize the collective efforts of other African countries.