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Home Blog Page 6721

Nigeria’s Double 2% Premium Customers

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Two percent (2%) is a special number in Nigeria. Out of the 30 million people I have noted that have some money to buy things in the nation, 2% brings another dimension. According to government data, 2% of the Nigerian bank depositors control 90% of the total value. Also, Nigerians who have more than N500,000 ($1,400) in their bank accounts are just 2%. I have called this the Double 2% – the first 2%  controls 90% of the total deposits and the other 2% has more than $1,400 in their bank accounts. Certainly, there is an overlap in these two 2%s.

Director of Research and International Relations at the Nigeria Deposit Insurance Corporation, NDIC, Alhaji Mohammed Umar, disclosed this at the Businessday Capital Market Development Annual Conference in Abuja, yesterday. His words: “Our current deposit insurance coverage is N500, 000 for the Deposit Money Banks. And some people have said that it is low. I can tell you that it is very adequate for the majority of accounts. “It will interest you to know that it covers over 90 per cent of accounts in the country. Indeed, Nigerians who have more than N500, 000 in their accounts are just two per cent.

“What we found is that this two per cent Nigerians have 90 per cent of banks’ total deposits. Look at that – two per cent Nigerians own 90 per cent of total banks deposits, while the remaining 98 per cent have just 10 per cent of total deposits.  What that tells you is that the gap between the rich and the poor has continued in this country.”

If you miss this 2% in Nigeria, even if you are selling food and medicine, you will be in trouble because they are really the people that have money to spend. Also, if only 2% of the population has more than $1,400 in the bank, you need to test the viability of running a saving-based business model in Nigeria since people have really nothing to save: hand to mouth. The implication is that you have to depend on maybe another cohort which is certainly lower than 2%.

More so, if you use BVN (bank verification number), 2% of the about 40 million users will give you 800,000 people in the Double 2%. Those 800,000 people  – less than 0.5% of Nigeria’s population – are the jewels in the Nigerian economy for most companies in consumer business!

Causes of Anger in Nigeria

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I was delivering a lecture in Communication Skills to ICAN students when we delved into things to consider when sending messages. When we got to considering the recipients emotions, the class became alive. Almost all the students had experienced some form of emotional outburst from people when they were relaying messages to them. Some had good experiences while others had very terrible ones. The conclusion by the end of the day was that you have to be careful when delivering messages to any Nigerian because he or she might be angry at that moment.

The experiences of these students are just the few among the ones experienced by many Nigerians. The emotional atmosphere of Nigeria is charged negatively. People seem ready to throw insults around without any known cause. Take a while to observe our roads and you will witness how vehicle drivers seamlessly abuse one another for minor traffic offences. What about the sellers in the market? A little pricing of his wares will earn you the insults of your life. This attitude even followed us into the social media. If you ask me, I will say that it is possible that Nigerians have taken their angry nature into their dream worlds.

So my question is, why are Nigerians so angry? What is it about Nigeria that easily gets people angry? How can this anger be brought under control?

Anger is just an emotion. It is something that pops up as a result of another factor. I don’t believe anybody is born angry. This means that if we can easily feel angry, we should easily feel other emotions too (both the positive and the negative ones). But the fact that anger and other negative emotions (fear, sadness, hatred, jealousy, and the rest of them) abound more in Nigeria shows that there is an underlying cause within the country itself.

The consequences of anger can never be over-stressed. To start with, it is not good for our health. Anger can lead to other complicated mental, psychological and physical illnesses. It weighs downs and exhausts its victim. It keeps its victim stagnant (in every ramification) and could end up destroying him.

Anger can easily be harnessed by ‘evil doers’ to destroy the lives and properties of others. It could be manipulated by these people to disrupt national unity and development. It can prevent the economic and financial growths of the victim because his aggressive nature and mindset will send the right people away from him. Besides, decisions made while angry always turn out wrong.

If you ask me who is angry in Nigeria, I’ll tell you that everybody is angry – the rich and the poor, the young and the old, the educated and the non-educated, the male and the female; even our pets are angry. Anger is spreading everywhere like cancer eating deep into our system. Honestly, to survive in Nigeria, you have to learn how to be angry, react angrily or ignore angry people.

Ok, let’s quickly look at the identified causes of anger in Nigerian societies.

1. Poverty: Of course a hungry man is an angry man. But then, the word ‘poverty’ is relative because I have seen ‘poor’ people that are not angry. It means that only when someone sees himself as poor will he be angry.

2. Insecurity: People have pointed accusing fingers at insecurity as a cause of anger in Nigeria. This may be true, but I guess it is in relation to people who have been directly affected.

3. Unemployment: Yes I can relate here. Being unemployed can be quite frustrating. If care isn’t taken, someone in this situation can just get angry at everybody and everything around him. I guess this person’s anger may be seen as justified but it truly won’t help him. He needs to help himself out here.

4. Lack of Basic Amenities: People get angry when ‘NEPA’ shows their strength. People get angry when their cars breakdown because of bad roads (or even when they are driving on the roads). People get angry when they couldn’t access some basic amenities they believe they have the right to as taxpayers. The worst thing about the anger that comes from here is that nobody will listen to you.

5. Marginalisation: As far as every Nigerian is concerned, his tribe is being marginalised. I haven’t seen any one that is satisfied with what is being sent to them by the government. The anger from this source can be quite destructive.

6. Bad Governance: No need to go into this one because this is the grandfather from which other causes of anger emanates.

7. Injustice: Yes, anybody who has faced injustice from any quarter whatsoever is always angry until justice has been meted out. The injustice I meant here isn’t the one from our Judiciary; but rather the one that an individual experienced as a member of a society.

8. Stress: Sometimes the way we show our stress is through anger. Maybe that woman selling oranges under the rain in the market that sprayed insults on you when you priced her #100 oranges at #50 did so because she was stressed out. This is why we need to bear with people at times because we don’t really know what they are passing through at that moment.

These factors mentioned above are the ones people easily point out when asked why they are angry. Unfortunately, some people don’t know why they are angry. Some people’s anger is so deep that they don’t know the words with which they could express it. The causes of this type are what I have my major interest in. I will try to mention some that I believe have been deeply destroying us as individuals and our nation as a whole.

  • Past Negative Experiences: You know there are some personal experiences you may have that takes time to instil anger in you. These experiences could be something that happened over a period of time and had therefore developed a taproot deep into the victim’s system. The only way to reach into this person and help him is through the professional works of experts. This is why we need our psychologists to face their primary works and help our people manage their emotional, mental and psychological health.
  • Upbringing: Most Nigerian parents believe that children have to be brought up the hard way. We also see parents that take out their frustration on their children. Because of this, they don’t tolerate any slightest mistake from their children. In the long run, they transfer their anger to their children, who grow with it and transfer it to anybody that comes their way.
  • The Influence of Others: Situations like this can be seen in mob-action, terrorism, tribalism and religious fanaticism. When people are being fed information that will fan their anger, they will be forced to bring up that emotion and act on it.
  • Less Attention to Emotional Health: Nigerians pay more attention to their physical health than to any other type. Our emotional, mental and psychological health are always swept under the carpet. This is why most of us don’t consider the effects of what we do on other people’s emotions.
  • Sense of Failure: This usually comes when someone puts in efforts but the results aren’t reflecting the rate of the efforts invested. This can also come up when a person compares himself to others, whom he deemed successful. If this person doesn’t know how to be inspired by the progress of others, he may end up angry with himself and others.

We have seen some of the causes of anger in Nigeria. What we need now is the way forward. We don’t have to wait for the government to help out here. Let us do the much we can for ourselves and then come together to influence the government. In other words, we need to know exactly what we want before expecting a change of governance.

Anyway, I’ll suggest that we, as individuals, can imbibe the following attitudes to help us with anger, and other negative emotions, management.

1. Change of Mindset: When we try to imbibe a positive attitude to life, we will start attracting positive things towards us. You can find an article on developing positive mindset here https://www.tekedia.com/how-our-mindset-can-determine-our-financial-and-social-status/

2. Avoidance Method: Here I’ll say that we should avoid situations and people that always elicit anger in us. Cut off every discussion or association with people that can influence you negatively, they will only destroy your happiness.

3. Recreation: Find time to relax and do what makes you happy. Don’t say you can’t afford to do so. By the way, don’t go for things that only have short-lived happiness (things that you enjoy at the moment but take a life time to regret) and don’t spend so much money on your search for happiness.

4. Child Upbringing: Child-rearing is an uphill task. But remember to preserve their innocence until they are old enough to understand the challenges of life. Don’t tell them how hard things are for you (of course you know they won’t understand), rather tell them you can’t provide for something they asked for at that moment (be patient as you entertain their questions on when you will do that, they will eventually get tired of asking).

5. Seek Help: If you have a bitter experience that is eating deep into you, seek for help. Please, go to a professional that is trained for that. Be careful with roadside helpers that will only complicate matters for you.

6. Self-Control: This is not easy at all. But we have to learn to control our emotions when situations try to burst them out. The easiest way to hold your anger when someone is pushing it out of you is to walk out of the place. If it is a place you can’t just walk out of, start counting numbers from one to wherever you want. This technique is to distract you from what is being said (you actually don’t listen when your mind is busy with some tasks). If the thing that will make you angry is a reported speech, don’t reply immediately. Sit down and try to analyse the situation, maybe you will understand that person’s point of view. And finally, when someone tries to push you to the wall, just respond with a smile and change the topic of discussion.

Anger in Nigeria is something that has to be solved individually. Though some of our institutions have failed us, we don’t have to fail ourselves. Being angry won’t take us anywhere; rather it will stagnate and destroy us.

Nigerian Government Needs To Pay Teachers Better

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Teaching remains the best job in the world. No one has thrived without learning. At every stage in life, we need teachers. Despite teaching being the best job anyone can have, Nigerian teachers are being underpaid. Especially in the primary and secondary schools.

It is sad when teachers that have helped us build the life we are living through their conscious teachings and care, are being paid peanuts.

When I was a youth corper, I had the opportunity to take part in the teaching profession. I can tell you that – it is one of the most difficult jobs to have especially those teaching toddlers. What do they get in return? A salary that can’t even put three square meals on the table.

But our senate leaders that sit in the house take home fat salaries every month just to say, ”yeah” or ”no” during House sitting.

This makes me ask an unanswered question – “who is actually serving who?”

We can’t continue like this. I don’t see why teachers can’t earn like politicians too. After all, they shaped the future of our political leaders.

If you give huge allowances and brand new vehicles to political leaders, why can’t you give to the teachers too?

It is high time for the government to look into this and make the necessary adjustments. There should be a policy that forbids private schools from paying teachers a bizarre salary. These teachers are even made to teach ten to fifteen subjects.

Yes, I understand that there are no jobs in the country, but that is not enough reason to turn everyone into a slave.

Some salaries being paid to teachers are way too ridiculous.

How pathetic to hear that teachers raising millionaires, billionaires and even all our political leaders, can’t even own a decent apartment or eat good food.

Maxilimer, Setting The Pace for Self-Sailing Ships

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It started with unmanned aircrafts, then cars, and now there is a ship. The 36-foot long Maxilimer colorfully cruised its way through UK waters in its quest to be the first Unmanned Surface Vessel (USV), to cross the Atlantic.

The makers, SEA-KIT, a maritime company based in southeast London is looking for alternative to the expensive manned water vessels, that could significantly cut the cost of sea haulage. So came the birth of Maxilimer, with no need for a human function, a lot of ‘would be’ crew space is dedicated to equipment, increasing the efficiency of its robotic mechanism.

The journey started in 2016, when SEA-KIT collaborated with a UK ship builder to develop the aluminum for Maxilimer. A Norwegian firm provided the remote control tech so that it could heed the signals of GPs and be controlled from miles away using radio.

Cruising at eight miles per hour, Maxilimer can go on a nine months stretch unless it runs out of fuel. Its adaptability has enabled the flexibility in its functions, a mechanism that regular vessels lack. According to the managing director of SEA_KIT, Ben Simpson:

“It’s robust, it’s adaptable, it’s got a huge range.” The “no human crew” technique has created a big room inside that it can take 2 ½ tons of cargo. Another aspect of it that has caught the interest of clients is its cost, it’s cheap. Simpson said:

“SEA-KIT vessels use less than five percent of the fuel required to operate a standard ocean-going vessels.” And there is environmental benefit attached to its cheap operational cost. SEA-KIT’s chief operating officer, Neil Tinmouth, told the DailyBeast:

“This is the game changer when it comes to the carbon footprint and environmental impact of these operations.”

Maxilimer was launched in 2017, and for about 2 years was in the waters being tested. Its performance so far has been satisfying that it won the $7 million Shell ocean Discovery X-Prize, in May, for the best ocean-mapping technology.

The maritime world is keenly observing the progress of Maxilimer, the final test is to make it across the Atlantic. If it succeeds, it will kick off a tech precedent that will save companies a fortune, and the environment, pollution. The US Navy are already exploring technology to develop AI vessels, and oil companies are looking for cheap alternative to their high cost maritime operations.

And there is a need for machines to take human’s place in cleaning of oil spillage, to eliminate the harm from fume inhalation. The concern of regulators has been the efficiency of the Maxilimer. An instance of collision or any other sort of accident will mean disapproval by regulators.

So far, there has been no such record. The 2017 test-sail is set to be complete by 2020, and the success will mean duplication of the expertise and multiplication of the technology.

The Nigerian Police Challenge to the Nation

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The Nigerian police are part of the Force meant to protect the citizens by ensuring everyone adheres to the rules and regulations set by governing bodies. But it’s a shame that they are the first to disobey the rules and regulations.

There are two things I want to point out in this article:

  • If you don’t obey the rules, the citizens won’t obey too. It’s simple.
  • A police officer taking bribes from common citizens can’t correct the citizens. He does not deem fit.

Bribery has become a norm for every citizen of Nigeria. Sometimes, I am in disbelief when I see public taxi drivers paying unaccountable money to police officers by the roadside.

The money is meant to cover up for the driver’s incomplete vehicle documents and driver’s license. Also, the money is meant to cover up for the thorough search that should be carried out on any suspected vehicle.

Meaning, the lives of all citizens are at stake for a meagre 50 naira. That’s the worst state of corruption in the country. Some police officers I see on the road are not fit enough to be a gatekeeper and I still wonder why they are still on duty. Most of them can’t face or apprehend an unarmed thief, let alone of the ones with sophisticated weapons. Perhaps they got the job through a family member or friend. Some even had to sacrifice their first twelve months salary to get the police job. No wonder our security is so fragile. These people are the loopholes in the security sector.

This issue of bribing police has been imbibed into every citizen mentality. It’s growing like a tumour. Everyone sees bribing as the easiest way to get what they want.

I could remember during my undergraduate days, we had some lecturers who will ask for money to pass a student. You can’t blame them because they have been robbed by the laws too – the police.

Even getting a job at the national level, you have to pay a huge amount of money.

Who do we blame for this problem? – Those in forces. They have soiled their reputations. Everyone sees bribing as a norm since the police, soldiers, customs, FRSC are all doing it. So there’s nothing bad about it. After all, we will bribe them if we get caught. And this mentality is being passed around.

Even at an institution of learning, we have candidates seeking admission paying admin officers to get shortlisted. We have those who were issued fake certificates. These have become rampant in Nigeria.

If those in the force have frowned on this act, perhaps, if they are not dragging themselves too low to accept bribes from the common citizens, then everyone will comply. No one will want to go against the rules because they know that there’s no police to give bribe or soldier to settle. Meaning, no one will seek the shortcuts.

Until we have those meant to guide the citizens standing upright, corruption will never end in Nigeria.