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Showing posts from May, 2023

The Fuel Subsidy Conundrum: A Stepping Stone Towards Progress or ?

The Fuel Subsidy Conundrum: A Stepping Stone Towards Progress or ? Since the 1970s, Nigeria's fuel subsidy program has been a saving grace for many Nigerians, cushioning the effects of high fuel prices. However, like any well-intentioned initiative, it has been plagued with its own set of challenges. From accusations of corruption to allegations of mismanagement, the program has been at the center of economic discussions, sparking debates on its efficacy and future. This article aims to shed light on the implications of the proposed removal of the fuel subsidy by the new Nigerian government, examining both its potential benefits and drawbacks. Established as a financial lifeline for oil marketers, the fuel subsidy enabled them to sell gasoline at reduced prices, thereby alleviating the cost burden for consumers. Despite its benefits, the subsidy program has emerged as a hotbed of corruption. Worse still, the burden on the country's economy has been colossal. Case in point: in 2

The Profit Paradigm Shift in the Age of Artificial Intelligence: A Dive into Clayton Christensen's Prophetic Words

The Profit Paradigm Shift in the Age of Artificial Intelligence: A Dive into Clayton Christensen's Prophetic Words As the dawn breaks on the AI revolution, the profound words of Harvard Business School Professor Clayton Christensen echo ever more resoundingly: "Profit does not disappear from an industry but rather the money moves to other value-added stack." This simple yet profound concept paints a transformative picture of the future, where AI promises a radical departure from traditional ways of creating and capturing value. The AI wave has hit all sectors, rattling traditional business models, and toppling established market leaders who couldn't adapt quickly enough. This disruptive power of AI brings us back to Christensen's theory of disruptive innovation. He postulated that disruptive technologies like AI don't eradicate the profitability of an industry but shift it to different areas, often characterized by novel, value-adding services or capabilities

The Indispensable Investment: Cultivating Human Capital

  The Indispensable Investment: Cultivating Human Capital “Tell me and I forget. Teach me and I remember. Involve me and I learn.” – Benjamin Franklin. This enduring quote, attributed to one of the founding fathers of America, captures a reality we often neglect – the vitality of investing in human capital. It's a lesson that's equally relevant in today's digital economy, where people are increasingly becoming the beating heart of successful organizations. In a gripping conversation between a CEO and CFO, a striking question is posed. The CFO asks, "What happens if we invest in developing our people and they leave us?" The CEO responds astutely, "What happens if we don’t, and they stay?" This conversation reveals a business paradox and a dilemma that organizations around the world grapple with. Investing in talent or training personnel can be seen as a risky venture - what if these groomed individuals eventually exit, taking their acquired skills to comp

A Cap, a Keke, and a President: Decoding the GBG-Asiwaju Connection

  Once, I hopped into a tricycle, or Keke as it's referred to in Nigeria. During our ride, the driver remarked, Oga, so you're one of us? . Taken aback, I queried, One of you? , to which he pointed to my cap, leading me to examine it again. Still puzzled, he explained, Jagaban Forever - Asiwaju . The first thought that sprung to mind was that my pre-election Google Trends analysis had seemingly returned to haunt me. I questioned, Wasn't my analysis objective? After all, I employed similar techniques for the UK Prime Minister's election, Kenya's, and several others that proved accurate or very close to the actual outcomes. For Nigeria, my prediction did not envisage a landslide victory for any candidates, and the analysis before the general elections eventually pointed towards Asiwaju's potential victory - a prediction soon to be validated, considering his imminent swearing-in. So, it left me puzzled - what had I overlooked that caused my innocuous GBG cap to s

Shadows of the Pulpit: Unmasking Economic Subterfuge in Nigeria's Spiritual Landscape

Shadows of the Pulpit: Unmasking Economic Subterfuge in Nigeria's Spiritual Landscape A summary stats for Nigeria from the year 2000 - 2023: https://docs.google.com/document/d/1GqFid992pjWMDjKHtfKBZ6SpupvfpYsIbiNwi8XcU34/edit?usp=sharing Introduction: The Silent Shift "Money often costs too much," Ralph Waldo Emerson once penned in a phrase that rings peculiarly true in the spiritual heartland of Nigeria. As dawn breaks over Nigeria, it unveils a landscape in flux; one caught in the throes of a silent shift that has steadily crept into the fabric of our society. Over the years, we have witnessed a dramatic expansion in the number of religious institutions - churches and mosques alike - dotting our communities like vibrant beads on the intricate tapestry of faith. It's a seemingly innocent development, a testament to the unfaltering piety of the Nigerian people, you might say. Yet, beneath this visible growth is a deeply woven economic subterfuge, a silent shift if you

IDEO - a name that resonates with #DesignThinking, #Innovation

  IDEO - a name that resonates with #DesignThinking, #Innovation, and an infectious creative spirit, a name that has earned its place in the annals of modern design and product development history. Over the years, IDEO has stood out as a beacon of creativity, not merely for the stunning designs it has breathed life into, but for the revolutionary culture and process it has fostered. Its ethos, deeply rooted in empathy, experimentation, and elegant simplicity, has transformed the landscape of design, carving out a trail for others to follow. #IDEO has always been much more than a design firm. It is an institution, a living, breathing entity that has given form and substance to the future. It is a place where ideas are not just born but are nurtured, coaxed into existence by an assembly of diverse minds. Minds that dare to question, to challenge the status quo, and to relentlessly push the boundaries of what is possible. From products that sit comfortably in the palm of your hand to serv

A Rogue Man of God is a Prototype Ozark: Unmasking the Unseen Villain in Nigeria’s Economic Woes

  A Rogue Man of God is a Prototype Ozark: Unmasking the Unseen Villain in Nigeria’s Economic Woes In the Netflix series Ozark, we find a character like Marty Byrde - a family man and a financial planner who is thrust into the world of money laundering for a Mexican drug cartel. Imagine an equivalent scenario in Nigeria but with a twist - instead of Marty Byrde, it is a supposed man of God, hidden behind the pulpit and revered scripture. As the second decade of the 21st century wraps up, Nigeria faces a complex set of challenges, most notably a persistently high unemployment rate. Yet, beneath the surface of these economic woes, there exists an underbelly of activities orchestrated by an unlikely cohort - men of God turned rogue. Like a classic Ozark episode, money laundering activities hidden behind religious institutions become the unseen villain that fuels the country’s challenges. The Book of Ephesians cautions in 5:11, "Take no part in the unfruitful works of darkness, but in