Producing or Consuming?

Producing or Consuming?

It gives me much joy to venture into such a challenging topic as this, as I am very sure it is a right step to solving financial problems that is or has been facing individuals, businesses and government organizations. Therefore, to venture into such an article as this, is to profer a solution to combating our ‘roaring economic enemy’.

One of the measurements of the performance of every economy is its Gross Domestic Product (GDP) and the primary driving force of economic growth in any country is the growth of productivity, which is the ratio of economic output to inputs (capital, labor, energy, materials and services (KLEMS)).

Gross Domestic Product GDP is the broadest measure of a country’s economy, and it represents the total market value of all goods and services produced in a country during a given year.

In a sense, Nigeria’s current economic output is underperforming its potential output with its large population of 170 million, which is 3 times the size of South Africa’s at 52 million. With its huge population disparity Nigeria’s rebased GDP of $432 billion compares with South Africa’s GDP of $370.3 billion at year end 2013 is still not justifiable.

For Nigeria to economically compete with South Africa which holds the largest economy in Africa till 2012, its GDP should be standing at $1 trillion so as to able to have a positive impact on per capital income, among other indices.

Some report stated that Nigeria now has the largest economy in Africa for YE2013(though this is NOT the same as the best), while another report gave the following as the true figure for year end 2013:

Richest African Countries (by 2013 GDP)
1. South Africa: $595.7 billion (up 17.8%)
2. Egypt: $551.4 billion (up 25.1%)
3. Nigeria: $478.5 billion (up 50.6%).

Whilst it’s a good news to believe that Nigeria has finally overtaken South Africa to assume it’s rightful place as the largest economy in Africa, we should however pause for reflection upon the following facts:

1. South Africa still has the most diversified/sophisticated economy in Africa.
2. South Africa has the best infrastructure (roads, rail, airports, seaports, telcommunications, hospitals, higher institutions etc)in Africa.
3. South Africa’s power output (over 40,000MW) dwarfs that of Nigeria (about 4,000MW).
4. South Africa is the only country on the African continent that has and operates nuclear power plants
5. The JSE (with a market capitalisation of over $900billion is the largest stock exchange on the African continent. The Nigerian Stock exchange is the second largest with a market capitalisation of about $114billion.
6. The busiest and largest Airport in Africa is the Oliver Tambo airport in Johannesburg, which had over 18 million passangers in the year 2012/13. It can also accommodate the Airbus 380 – the largest commercial passanger plane in operation at the moment. Murtala Muhammed Airport in Lagos handled just over 7 million passangers for the year 2012/13. None of our airports (MMA included) can handle the Airbus 380.
7. GDP per capita for South Africa is about $6,800 whilst that of Nigeria (with the rebasing) will be about $2,600.
8. The biggest banks and telecoms companies on the contient are South African.
9. South Africa’s economy has a rating of BBB which is investment grade. Nigeria has a rating of BB-, which is three notches below investment grade.
10. For ease of doing business, out of 182 countries, South Africa is rated No.52 in the World, whilst Nigeria is rated 147.

I could go on and on. In a nutshell, we still have a LONG WAY TO GO.

Though in the long run the GDP will have a positive IMPACT on Nigerians; our government must realize that we cannot eat GDP and so unless there is a tangible improvement in the lives of our citizens, the new GDP figures mean nothing to the average nigerian.

Maybe our leaders need to consider the following GDP figures for 2013:

* Nigeria population is 170million with $420billion
* South Africa population is 52million with $400billion
* Hong Kong population is 7million with $263billion
* Italy population is 60million with $2trillion
* Singapore population is 5.4million with $275billion
* Sweden population is 9million with $524billion
* United Arab Emirate population is 9million with $349b
* Canada population is 35million with $1.8trillion
* France population is 64million with $2.6trillion
* UK population is less than half of Nigeria population, yet its worth $2.4trillion
* US population is less than twice that of Nigeria, yet its worth $16trillion.

Do you know that 170million Nigerians are not producing what 9million Swedish are producing?
Now let’s leave Nigeria for now and come down to Nigerians; I mean you. Are you PRODUCING or CONSUMING??

Carefully name ALL the things you consume daily and tick the ones you or any of your relative produce.

Now that you know the SOURCE of the problem. The question is, how do you want to tackle yours?

Victor Oyefeso
Saturday 08.03.14 13:49


To Whose Fault?

Whose fault?

In the early morning of today, I heard a chaotic shouts outside my compound; as I tried to see what was going wrong, I realized it was a repeat of a ‘free-for-all’ fight that ones broke out four days ago between the youths in my street and those of the adjacent street.

On sunday evening when it started I thought we have seen it all, as the timely intervention of the put an end to the fifteen minutes of destructive violence that led to breaking of bottles, throwing of stones, and using of cutlasses and knives among youths between age 15 and 25 years who had scattered the whole street.

The fight broke out as a result of a disagreement that ensued during the final match of an inter-street footbal competition which the two streets were playing, and before anyone could say ‘Jack’, the ones friendly atmoshere had turned into a war front. From the government beautification-garden turned footbal field, they pursued themselves through the streets and ended in my street, which then became the battle field.

To the surprise of the residents of my street who thought they’ve seen the last episode of the film; at about 8am today (Thursday 6th March, 2014), the arguement ensued again at the house of one of the footballers who lives on the street, and was also involved in the last sunday fight, and before anyone could say ‘what?’, youths who should be today’s leaders- leading in technological researches, politics and socio-economic activities, had formed two groups, taking strategic position at the two estremes of the street, breaking and throwing bottles at each other, matcheting one another and perpetrating all sought of unimaginable attrocities.

During the 19 minutes of this ‘war’, the street typify a war front, and no one could stay in his or her compound to watch, as bottles, sticks, plastic crates, stones etc. were flying everywhere in tiny streets. Everyone had to lock their shops and doors abruptly. I had to hide beside a water drum so I could take a video footage of the mad drama. Doing that was a great risk for me, because if any of them catch me, I could be attacked. However, I thank God I did that, as the video shows the faces of some of them especially, the one who was largely instrumental to the destruction of a car packed in front of my house and belonging to my neighbor. In less than 20 minutes, two cars and one tricycle with many other valuables had been partially condemned in a street that is less than a 100metres.

The truth is, we all came into the world harmless. We were born without a preconcieved notion about anything. Ofcourse we came through a mother who introduces us to our father. Unfortunately, some were not shown their father. And then we began to grow, learning from the good and the bad together. Some were thought to choose the good while some didn’t have that luxury. Some children came through poor, bad and irresponsible parent, so they have no choice than to learn violence, evil and rescality from their parents and peers.

Now, to whose fault??

Poverty, irresponsibility on the part of the parents, bad peer presure, hostile economy and community are some of the causes of youth restiveness.

To round up my story; it was the police that helped to stopped the war, by firing into the air immediately they arrived, and before that, the fighters had took off on hearing the police siren.

When the police came around, they paraded the two streets involved but could not make any arrest as the two warring groups had disappeared.

As the police were reporting back to their base, without a single arrest from the over 30 boys involved in the fracas, then I said to myself ”Really, who should be arrested?”

Sincerely, I think, since the guys had fled, then their parents should be arrested. Afterall, if the children had won an award in absential; their parents would receive it on their behalf and be proud of them.

We must always be RESPONSIBLE for our actions.

Yorubas have an adage that says ”Eni ba bi’mo oran, oran ni pon.”, meaning; whoever give birth to a criminal, must be ready to bear the cross.

Since no arrest was made, considering the monstrousity of the unfortunate event, we can only prepare for another bad day. God forbid!

Thursday 6th March, 2014. 21:09GMT

Is there a Nigerian Dream?


October 26, 2013 at 1:32am



Every American knows there is an American dream. Party affiliations are made along this dream. Every so often, the American presidents remind the people of the American dream. The dream is people centered and people oriented. This, over the years, has fired every American to hope for the best and be assured that the government is there to cater for his best interest.

The last presidential election in the US brought to mind again the American dream. The re-elected Barrack Obama spoke gloriously of this dream. He said “If there is anyone out there who still doubts that America is a place where all things are possible, who still wonders if the dream of our founders is alive in our time, who still questions the power of our democracy, tonight is your answer.

“Let us resist the temptation to fall back on the same partisanship, pettiness and immaturity that have poisoned our politics for so long. Let us remember that it was a man from this state who first carried the banner of the Republican Party to the White House, a party founded on the values of self-reliance, individual liberty, and national unity. Those are values we all share, and while the Democratic Party has won a great victory tonight, we do so with a measure of humility and determination to heal the divides that have held back our progress.”
The American dream caused men, who believe in America to form political parties based on shared values of self-reliance, individual liberty and national unity. This is one thing that makes America great.
What about our own country? What values do our political parties enunciate other than revenue sharing, crave for power, stealing and embezzlement? That is why in our politics, we kill, maim and destroy opponents as if we are in a game of winner takes all.
As Nigerians prepare to dialogue, will Nigerian politicians and leaders learn of basing party manifestos on values? Can Nigeria begin to re-emphasis societal values instead of hero worship and money? Yes, Nigeria is a multi ethnic society, but does that make us enemies and forget our past?
Reflecting on America’s past, Obama said, “As Lincoln said to a nation far more divided than ours, “We are not enemies, but friends…though passion may have strained it, must not break our bonds of affection.” And to those Americans whose support I have yet to earn – I may not have won your vote, but I hear your voices. I need your help, and I will be your president too.
To ask, what is the strength of Nigeria? What makes Nigeria the giant of Africa? Its land mass, certainly not. Natural resources, no! What make Nigeria great are her people. But over the years, Nigerian leaders have not realised this. They feel oil and gas resources, mineral and land is what makes the country what it is. How else can we explain the neglect of the human resources in Nigeria? Neglect of the education sector?
Obama said, “The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals, democracy, liberty, opportunity, and unyielding hope. For that is the true genius of America – that America can change?
In Nigeria, ideas have no place; it is all about money; by whatever means it is achieved is nobody’s business. That is why we are the way we are, noise and motion but no movement, no progress. Let us all ask our past and present political, social and economic leaders if our children should live to see the next century. What change will they see? What progress will we have made especially in this period of mass unemployment where those without godfathers stay five years without hope of securing any form of gainful employment?
President Goodluck Jonathan and the National Assembly must know now that this is his chance to make a difference. This is his moment to bring hope to Nigerian youths; to put the teeming army of young graduates roaming the streets endlessly in search of jobs back to work and open doors of opportunity for those that are now in schools.

The forthcoming National Conference offers yet another opportunity for Nigeria to bounce back to reckoning. The conference must come up with principles that will give hope to all Nigerians. It must come up with a Nigerian dream. What will make every Nigerian want to die serving his country, a Nigeria that cares for all, a Nigeria that provides hope for all, a land of equal opportunity for every Nigerian citizen, a country where no citizen will be treated as a stranger in any part; a country where any of its citizens can aspire to become the president through hard work; a country that celebrates excellence not mediocrity. The National Conference must come up with logical ideals that will create an egalitarian society. That will be a dream every Nigerian will be proud of.
Written by Gabriel Omoh. Edited by Victor Oyefeso

Be Involved! Join a Political Party in Nigeria

How to join a Political Party in Nigeria

October 27, 2013 at 11:13am

How to join a political party in Nigeria.

The generally accepted and verbally communicated process of joining a political party in Nigeria is as follows: Interested individuals are advised to visit the respective party headquarters at their Wards and seek the attention of the Ward Secretary (Each Local Government Area is subdivided into Wards for political purposes). The individual will fill a party registration form and provide supporting documents and payment as may be required by the party. Once registration is judged to be complete, a membership card will be processed and issued to the individual as confirmation. Then, the individual is referred to as a ‘card-carrying member’. Political parties typically hold weekly Ward meetings which members are expected to attend. A simple process, yet, requiring increased awareness and widespread documentation.

The least expectation is that each political party manages a functional website, publishing therein its national structure – a breakdown of Zones, States, Local Government Areas and Wards with contact details for party officials at each level. An individual who seeks to join a political party should be able to pick an internet enabled mobile phone, browse the website for the party of interest, navigate the national structure down to the Ward closest to him/her, copy details of the responsible party official, make an inquiry call and/or physical visit. Information should be at the public’s beck and call. So, while the PDP site provides initial information on ‘how to join’, it needs to incorporate information and contact details down to the Ward level. It currently lists PDP State Chairmen with few of their contact numbers but excludes details on LGA and Ward officials.
The Lagos State Government has been kind enough to publish via its website, the list of all Lagos State LGA’s, respective Wards and contact details of the Chairman and Vice Chairman – a ready-made template for each political party to adopt. The Oyo State Government websitehas a similar list of LGA’S within the State. Unfortunately, there is no breakdown of the Ward structure for each LGA, neither are contact details included.

Moreover, each political party should fully explore and execute the option of online registration for prospective party members. The Action Congress of Nigeria seems to be the trailblazer with this concept and may be testing it already via its Join ACN Todaylink.
In enhancing our growing democracy, information on political processes and requirements for partial or total involvement must become readily available to the average citizen.

The ease and speed of accessing reliable information are key success factors to increasing and improving political involvement especially for Nigerian youth.

See The Real Thieves


See The Real Thieves

December 16, 2013 at 1:03am

Nigeria is the 13th largest oil producer in the world. OPEC allocated a daily production of 2.5 million barrels of oil to Nigeria. At an average price of $100 dollars a barrel, Nigeria could be raking in $250 million dollars a day. In a year, it will be about $90 billion. In Naira, that will be about N40 billion a day and N14.6 trillion a year.

In the 2013 budget, Nigeria set the benchmark price for crude oil at $79 a barrel. At that rate, 2.5 million barrel of oil a day will give Nigeria $229.1 million dollars a day. In a year, it will be about $80 billion. In Naira, that will be about N25 billion a day and N13.1 trillion a year.

Nigeria also produces gas. According to the Department of Petroleum Resources (DPR), Nigeria produces 8.0 billion cubic feet per day of gas per day(BCFD). 5.2 BCFD is for Associated Gas (AG), that is gas produced along with crude oil while 2.8 BCFD is for Non-Associated Gas(NAG), that is gas produced independent of oil production.

Revenues from oil and gas give Nigeria 80% of its income. Another 20 % comes from sources as diverse as mineral exploration and agriculture. In all, Nigeria makes over $100 billion each year from exports.

Many of us do not know but Nigeria makes an average of $90 billion dollars in oil and gas revenue a year and another $10 billion from exports of other natural resources. Nigeria also makes N5 trillion from Federal taxes. From Customs duties, Nigeria makes another one trillion. That is a total of N22 trillion a year.

In the last 50 years, Nigeria has made over $500 billion from crude oil. Some of that money showed up in fraud cases that gave us headlines like these: Iyabo, Bello, Obasanjo in N300 Million Scandal, Igbinedion Embezzled Edo’s N19bn — EFCC, Money Laundering: Group Sues EFCC Over First Lady Patience Jonathan’s $13 Million Fraud; EFCC Arrests Bode George, Dabo, Accuses Them of N100 Billion Dirty Contracts; Former Governor of Taraba State, Reverend Jolly Nyame, Must Face Criminal Trial Over Alleged Stealing Of N2.4 billion while In Office; EFCC Files N700m Fraud Charges Against Dariye, Others; N100 Million Scam – Court Grants Boni Haruna’s Aide Bail; EFCC Declares Ibori Wanted Over N44bn Fresh Corruption Charges; Jigawa State’s Ex-Gov Turaki’s N30b Used To Finance Third Term Project; $16B Power Scam: IBB’s Allies Call For OBJ’s Arrest; N5.6bn Pension Scam: Court Denies Former Oyo State Head of Service, Others Bail; N19.2bn Scam: EFCC Re-arraigns Timipre Sylva; N1.8bn Subsidy Scam: EFCC RE-ARRAIGNS ABDULLAHI ALAO, THREE OTHERS.

A Google search of fraud and EFCC and any of the former governors of Nigeria’s 36 states in the last 15 years will show you indictments in billions – from Bola Tinubu to Orji Uzo Kalu to Ahmed Yerima to Donald Duke to Peter Odili. Add members of the National Assembly and ministers from Deji Bankole to Patricia Etteh to Farouk Lawal to Chuba Okadigbo to Sunday Afolabi. Do not forget the portion of our commonwealth that went to bankers like Mrs. Cecelia Ibru, Erastus Akingbola, Bartholomew Ebong, Okey Nwosu, Sebastine Adigwe etc. If you add up the billions, you will be able to account for the money Nigeria has made over the years.

According to the NNPC, Nigeria’s crude oil reserve is at 28.2 billion barrels. At today’s price that is $2.8 trillion. If no new oil is discovered in Nigeria and we continue to produce at 2.5 million barrels a day, our oil reserve will last for another 11,280 days. That is 30 years more.

Let me stop here and leave you to find the remaining stolen cash, who knows, it might be with your neighbors.

If there is an international stealing contest, some of Nigerian leaders will win.

Nigerians wake up!!!

The Slavery of Religion

The Slavery of Religion (Part 1)


The greatest set back of religion is that it takes away people’s common sense and replaces it with a dummy spirit…

Nigerians are in slavery to religion, the effect is worse than that of corruption. Femi Akinwunmi

Note: Jesus of Nazareth is not the founder of religion. Religion existed before He came physically, though He existed before all things.

Though there is no broad consensus regarding the origin of religion, but the word became popular in 19th century.

A Christian is a follower of Christ.

Do NOT be religious, be a Christian!

To be continued…

Monday 27th January, 2014. 16:14GMT

The Reward of ‘Knowing’

PLEASE READ **mind blowing**

A giant ship engine failed. The ship’s owners tried one expert after another, but none of them could figure but how to fix the engine.

Then they brought in an old man who had been fixing ships since he was a young. He carried a large bag of tools with him, and when he arrived, he immediately went to work. He inspected the engine very carefully, top to bottom.
Two of the ship’s owners were there, watching this man, hoping he would know what to do.

After looking things over, the old man reached into his bag and pulled out a small hammer. He gently tapped something.

Instantly, the engine lurched into life. He carefully put his hammer away. The engine was fixed!

A week later, the owners received a bill from the old man for ten thousand dollars.

“What?!” the owners exclaimed. “He hardly did anything!” So they wrote the old man a note saying, “Please send us an itemized bill.”

The man sent a bill that reads:

Tapping with a hammer…… …… ……… $2.00
Knowing where to tap……… …… ……… $9,998.00

Moral Lesson- Effort is important, but knowing where to direct an effort makes all the difference!

Keep studying hard. Don’t give up!