Posts Tagged ‘Nigerian’

Nigeria Needs An Entrepreneur Not A Magician

Monday, May 25th, 2015

Nigeria is in need of a Leader, who is a seasoned entrepreneur, not a Magician that many are craving for. I read a lot of comments and write-ups which shows that many Nigerian are expecting the President Elect General Muhammadu Buhari to perform magic and transform Nigeria into a developed nation overnight.

It is time we wake up from the land of slumber. It is time we discard fantasies and embrace reality. Unless we do that, we will continue to suffer in the hands of opportunist and con-artists who promise us that we will suddenly be transported from our present state of economic woes to the land of promise!

It is time Nigerian request that our nation be run like a business where the stakeholders holds the leader accountable. The citizens are to be blamed for all the years of looting we have experienced in the past. Since we want fairy tales of the magicians and expect result from a simple wave of the magic-wand, we shouldn’t complain that we get screen-saver results instead of the result we desire!

Entrepreneur vs Magician

Magician

What differentiate a magician from an entrepreneur? The answer is simple. An entrepreneur promises all stake holders, shareholders, customers, suppliers, workers a better future. He doesn’t do that by just making promises based on his fantasy, rather he makes propositions based on available resources and then promises all the stakeholder realistic result based on their commitment to the vision! A magician on the other hand make promises base on his slight of hand. He generate results that gives momentary pleasure or excitement, but cannot be held accountable for whatever happened thereafter. Nobody holds a magician accountable!

Hand pointing at a Entrepreneur word illustration on blue background.

The Entrepreneur

It is unfortunate to note that many Nigerians are expecting someone somewhere to perform magic while we all go to sleep. That is never going to happen. No matter how good the incoming government is, our collective effort is required to move Nigeria forward.

Just as no business can survive without the stakeholders contributing their quota, so it is that Nigeria cannot grow while the citizens are neglecting to contribute their own quota to the success of our beloved nation.

  • It is our responsibility to be interested in the goals of the incoming government. We must be interested in the details, not just sweet talks. We must desire to know if the goals are S.M.A.R.T or just fairy tales. For example: What is the goal for power generation and distribution?
  • It is our responsibility to be interested in the plan of the incoming government. For example: How is the present power problem going to be solved. How long will it take? What will be achieved in the last quarter of 2015?
  • It is our responsibility to listen and ask question on how the incoming government intend to achieve its set goals. We should be willing to hear the truth and nothing but the truth no matter how bitter it tastes!
  • It is our responsibility to give the government time to carry out the actions and then judge the result with the promises made. For example: The actual goal achieved should be judged against the promised goal. We should ask the government to account for the variance and judge the result as being acceptable or not acceptable.
  • It is our responsibility to hold every arm of government accountable! We should no longer allow leaders to make empty promises which cannot be measured. We should no longer allow leaders to lie to us without bearing the punishment for lying in public. We should stop celebrating liars, thieves and con-artists.

All these won’t happen overnight. So it is our responsibility to wait patiently as needed repairs and changes are implemented irrespective of how painful that may be. Shouting, criticizing, protesting and throwing tantrums based on sentiments have never done us any good. Employing the same methods that never worked in time past will only portray us as fools. If truly we desire change, let it start from you and I. Let’s change our attitude and stop expecting a magician to solve our problems. Long live Nigeria.

How to Buy Gold and Avoid Scams

Tuesday, March 26th, 2013

The continent of Africa continues to be the world’s fastest gold-producing region. The history, and events of today as they pertain to the continent are quite telling as to gold’s monetary value regardless of market conditions. Mali and South Africa have been two of the world’s top gold-producing countries for quite some time. Gold prices have risen by more than 500 percent since 2002, and will continue to rise as the global central banks continue their policies of liberally printing and debasing the value of world currencies. Wealth attracts criminal opportunity as we’ve seen with the country of Nigeria unfairly targeted in the well-known “Nigerian prince” scam. The following are some tips on gold investing and how to avoid being scammed.

Gold Investment

Gold Investment

Mining

The Nigerian Minerals and Mining Act of 2007 prohibits “unauthorized” exploration and excavation of minerals from the ground, including gold. The federal government has issued permits and titles to several individuals and companies to begin mining. But the process has been slowed because villagers, who’ve lived on the lands for centuries, aren’t leaving quietly, according to the Global Post. Locals are well aware of the precious metal’s presence all around them, but in the past haven’t pursued mining because of small returns on their time investments. This has all changed now that gold is selling on international markets for about 10,000 Naira ($60 U.S.) per gram.

Nigerians are forming local associations and unions to pool resources and slowly buy back the right to mine their lands, according to Voice of America News. Lead poisoning is common, however, for miners who don’t take the necessary precautions. Any associations and unions looking to mine should invest in a supply of dimercaptosuccinic acid (DMSA), which removes lead from the body in case of poisoning.

Buy Bullion

Gold is now far too expensive for most Nigerians (and most others around the world) to buy at market prices, but is a great investment for those with the means. The main concern with buying gold bullion bars is, of course, being ripped off. A reputable online seller, such as US Money Reserve, will have disclosures and any risk factors on their website. The premium which any company charges over market value should never exceed five percent. The company should also have a verifiable address and phone number.

Gold Exchange Traded Funds

The best thing about gold ETFs (stocks) is that you can generally purchase shares for far less than on the per ounce gram basis bullion is sold. The Nigerian Stock Exchange added the NewGold ETF to its index in December 2011, which enabled investors to diversify without buying the physical metals. The fund has done relatively well in the subsequent 13 months after starting off slowly.

If you are trading in gold, do well to share with us in your comment. Cheers.

Nigeria At 51

Saturday, October 1st, 2011

Nigeria Celebrates 51years of Independence From Colonial Rule

Nigeria is 51!  We celebrate our fifty-one years of independence from colonial rule today. On 1st October, 1960 Nigeria was granted independence from colonial rule. Ordinarily, it is an occasion that warrants jubilation and celebration. But as I look around, I feel uncomfortable. While our leaders are busy wining and dining, people on the street are asking what is there to celebrate!

Proudly Nigerian

Proudly Nigerian

I have always insisted that there is enough reason to celebrate Nigeria’s Independence Day irrespective of the challenges we face as a nation. However, this year, it has been much more difficult convincing friends and relatives that there is reason to celebrate.

The pessimism about the future of my great nation seems to increase as the days go by. Even those who were formerly enthusiastic about the Nigerian Dream are no longer confidence that the change we desire will come in our lifetime.

They ask me the familiar question which is tough to answer. “In the face of unemployment, bad roads, deteriorating education system, corruption, hunger, lying leaders, pen robbery, kidnapping, militancy, religious intolerance, insecurity… what is there to celebrate?

Well, I may not have a perfect answer. My answer may not satisfy all. But I believe we need to celebrate, and I indeed celebrate with my family. My reasons for insisting that we celebrate as Nigerians are as follows:

  • The fact that it could have been worse, but for God’s mercy upon us as a nation.
  • The fact that when there is life, there is hope of a better tomorrow!
  • The fact that evil cannot triumph over good for ever, Nigeria shall rise again!

Remember, just before the dawn of a new day, is the darkest moment of the night! Nigeria will rise again! Nigeria will be great again!

To all Nigerians at home and abroad, I say a hearty HAPPY INDEPENDENCE DAY! Long Live Nigeria!

Is Bulk SMS Business In Nigeria Crashing?

Saturday, June 4th, 2011

Bulk SMS entered the Nigerian market with a big bang. It became the newest make money online song and I wrote about it in my post  Bulk SMS Reseller In Nigeria. As competition in the market for bulk sms intensified, I was greatly amused and I wrote another article pointing out that using price as basis for competition is not a healthy thing. You can read the article, Bulk SMS Reseller Price War. As at today, it seems the story has changed. It seems the Bulk SMS market in Nigeria is collapsing. Please correct me if I’m wrong.

Bulk Sms Reselling

Bulk Sms

I am not a Bulk SMS reseller. But I’m a heavy user of bulk SMS. I subscribed to one of the most reliable bulk SMS reseller and I have been enjoying their service until recently when I noticed that my sent messages were not getting delivered. I thought it was just a hitch in their system, so I went online and chatted with one of their representative.

Well, I was treated to a very good customer service and I thought that the situation will be rectified. Unfortunately, a week after, the same situation is still persisting. Over 60 percent of the messages I sent doesn’t get delivered and that was really embarrassing.

I was actually thinking of switching to another reseller because I was loosing money. Every time a message sent is not delivered, I loose the money spent on sending the message while at the same time I suffer the embarrassment of intended recipient of such message calling that they never got the message. That is not good for an entrepreneur like me. So I made up my mind to switch to another reseller. But the question on my mind was, which of the myriad of bulk sms reseller parading themselves as the best solution provider in the market should I subscribe to?

Should I join the bandwagon and become  a bulk sms reseller myself? After giving it a thought, I decided that I’m not ready for sms reseller business. I already have my hand full for now. I believe in giving my best in whatever I lay my hands on. Since I don’t have the time to commit to the business of reselling sms, then there is no point going into it for now. My good name is my greatest asset. So the option left is to subscribe to another bulk sms reseller.

Well, while searching for the best provider to subscribe to, I discovered that I’m not the only one complaining about undelivered messages. Some of my friends are complaining also. And funny enough, we subscribed to different bulk sms resellers. So that showed me that it wasn’t only my provider that was having hitches with their services, many more in the bulk sms business are experiencing the same.

Now, someone suggested that GSM operators in Nigeria are responsible for the undelivered messages! How true is that? Whenever, I send messages from my phone using the GSM operators (I have 3lines, MTN, Glo and Etisalat) the messages get delivered. However, when I send bulk SMS to the same operators some get delivered, while some don’t get delivered. A friend suggested that the GSM operators are sabotaging the business of bulk sms reseller. That sound ridiculous to me. But could it be true? There are too many questions and little comforting answers.

What has been your experience as a user of  Bulk SMS in the past one month? Do you have answer to the questions raised above? Kindly say in a comment. You might save a business by doing so. Thanks for reading. Cheers.

New Minimum Wage For Nigerian Workers

Monday, February 28th, 2011

Should Government Workers Celebrate The New Minimum Wage?

Government workers in Nigeria are getting excited about the newly approved minimum wage of 18,000naira. Does this really call for jubilation? I’m not trying to be pessimistic, but I personally feel that what Nigerian workers need is not a new statutory minimum wage. They will be better off if the government focus her attention on arresting the factors responsible for eroding the purchasing power of the workers income. If the present attitude of our leaders in maintaining the social infrastructures continues, the newly approved statutory minimum wage will have less than the purchasing power of the old 7,500naira minimum wage.

It is not the volume, but the value!

I personally feel that everyone would have been better off, if government has concentrated on improving the supply of electricity and repairing the roads. Those two factors alone cost an average worker thousands of naira per month. so much fund is wasted from each workers income as they struggle to provide energy using petrol generator.  The cost of transportation is also high because commercial vehicle owners pay heavily for maintenance of their vechicle due to bad roads and poor road networks.

Will The State Government Pay?

The state governments are already crying foul over the federal government action. They claim they can’t afford to pay the new minimum wage. This shouldn’t come as a surprise to us, knowing fully well that some are owing their workers more than one month salary (at the old minimum wage rate). How on earth do we think such states will be able to pay their workers the new minimum wage which is more than 100percent increase on the old rate.

Will The Private Sector Pay The New Minimum Wage?

The private sector will now have to contend with disgruntled workers who will be expecting automatic increase in their salary because of the pronouncement of the Federal government. Unfortunately, many workers in private organisation will be dissappointed. Such automatic increase in salary is not realistic. Presently, a lot of private firm are having challenges with running their operations on diesel driven generator, because there is a hike in the price of diesel. Unlike before when a litre of disel sold for 110naira, now it goes for as much as 140naira per liter. That is a sudden increase in overhead expenditure.

Just two months into the new year and there are already many challenges for the Nigerian Entrepreneur to combat with. Unfortunately, our leaders are too pre-occupy with the April election to bother about the state of the economy. They are not helping matters in any way as their reckless spending is putting pressure on the economy. The warning from the Central Bank of Nigeria on the need for the executive to cut down on recurrent spending seems to be falling on deaf ears.

Nigerian entrepreneurs need to re-strategize in order to cope with the unforeseen result of these government policies. Every wise entrepreneur need to watch his/her overhead expenditure this year. It is obvious that there are challenges ahead. What is your opinion about the new minimum wage?