Path dependence: Where We are now?

The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.

Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.

With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.

I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.

What's your thought?

Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

Path dependence: Where We are now?

Path dependence: Where We are now?
The mono-product economy has many lapses it is easily prone to. Most especially when it's product is finite in supply. This is where the problem lies for oil-dependent nations in the world. Nigeria's oil quantity was commercially discovered in Bayelsa state, 1958. Presently among the world's largest producer of oil (even more than Dubai), we apparently plan our economy on the returns of this product; and like the forecasted consequence of the lack of a meaningful diversification,  we find ourselves in a quandary. Who would have thought prices would fall from as high as $101 per barrel in August to about $82 per barrel presently: the cause of which ( in Steven covey terms) outside our circle of influence: Iraq reducing it's price, Japan returning to the use of nuclear power as opposed to hydro carbon powered stations. Oil insider future offload, United States increased geographical area for oil exploration, removal of the ban placed on Iran by the USA e.t.c.
Time to take a cue from Norway (the most successful nation in diversification from oil) , the UAE, Qatar and other councils of the Gulf who have meaningfully implemented a workable strategy for their economy's redirection. According to IMF,  QATAR is projected to grow it's non-oilector by 9.1% between 2012-2016. The Norwegian economy has been able invest it's proceeds from oil in a sovereign wealth fund estimated at around $600 billion which is higher than our rebased GDP of $510 billion. The strength of it's efforts to diversify is directed to manufacturing and industry.
With good leadership and deliberation, our focus (I prospect ) should not be so much laid in raising taxes paid by producers but should be directed at encouraging investment and promoting the attraction of the comatose manufacturing sector such as  textile. In addition to this, I believe more effort be concerted towards value addition to our erstwhile primary resources. In the words of my Indian friend Ronnie, "Nigeria is both rich in Oil and soil; rich enough to overthrow Dubai 's growth by 200%". It's time we hold onto national progressive values and promote it's relevance beyond the current power tussle between parties and individuals. There's more we're throwing away (through our present lack of foresight) than our opportunities and wealth;  we're toying with a future. It's time to grow this economy from the scratch through deliberate, clear, concise and accountable action strategies using all at our disposal.
I believe Nigeria can compete with the USA and China on the ground of economics, unity and leadership.
What's your thought?
Share with me on my twitter handle @DkayodeAlli

SUSTAINABILITY OF ITINERANT TRADE INCOME

The privilege of living in Iwo has exposed me to the benefits of knowing something peculiar to this title.

I see traders (especially women) engaging in daily activities of buying and selling or rendering service(s). These endeavors bring in meager income good enough to sustain the family most times not beyond a week. I tend to wonder how they survive with such low income and much more wonder how they will survive with such income when they get old and cannot continue with such endeavors.

That's why I am asking that how sustainable is itinerant trade income considering the cost of living and given pertinent responsibilities?

Is Government doing anything to assuage the situation?

Daniels, up to you...

POLICE EXTORTION: ADDITION TO GDP?

 

POLICE EXTORTION: ADDITION TO GDP?

Based on exchange theory, when someone parts with cash, then there should be something to get in return.

I am eager to explain that when we part with cash/kind in acts of philanthropy, then we get back a feeling of fulfillment in assisting someone or whatever other reason.

However, when the Nigeria Police Force (NPF) extorts money from especially motorists, I tend to wonder what feeling they get back as return.

Are these drivers paying for security? Or, maybe they are paying for quick passage.

The main point of discourse in this piece is to find out if the exchange between motorists and NPF employees constitute an addition to Gross Domestic Product (GDP)?

Under what category do we classify this type of exchange and what service type are they paying for?

I am certain Daniel will have something to say about this.

 

Game Theory: ASUU and FG

GAME THEORY:  THE NIGERIAN PERSPECTIVE

It’s good to be back. Well just concluded my Masters programme at the University of First Choice. Let’s get down to business. Now we know for the past few years in Nigeria, we have been experiencing series of industrial actions. I’ll like us to consider the case of the face-off between the Federal Government (FG) and the Academic Staff Union of Universities (ASUU) employing the concept of the “Nash Equilibrium” (the prisoner’s dilemma is mostly used). In the Prisoner’s dilemma, suspects (two for simplicity) are apprehended and interrogated; efforts are made by their captors in eliciting information from both suspects. The following situation holds:    

1. The players (prisoners) are separately interrogated;
2. Both players are faced with a pre-determined sentence; 
3. There is no loyalty between the players; 
4. One player can snitch on the other to get  lighter sentence to the detriment of the other; 
5. Both players can decide to remain silent and get the pre-determined sentence; and 
6. Both players can confess and get more than the pre-determined sentence

We’ll try playing this game using the ASUU and FG as our players.  They both have two strategies (yield to the other’s demands or not yield). So let’s consider the available states and outcome using the Pay-off matrix.

1.            FG yields and ASUU yields each getting 20 points
2.            FG yields in and ASUU doesn’t, FG gets 10 points ASUU goes with 30 points
3.            FG doesn’t yield and ASUU does, FG gets 30 points ASUU gets 10 points
4.            FG doesn’t yield; neither does ASUU, both get 15 points each.

Now let’s look at these scenarios or states in the payoff matrix.

 

So, we can clearly see that it would be in the best interest if both parties yield to each other’s demands. There is however a point referred to as the global optimal state. This is a point we refer to as the Pareto optimal state. By this point we mean none of the players can change strategy without making the other worse off. These points are both scenarios (A) and (D).

However, there exists a point we call Nash equilibrium (named after late Mathematician from Princeton “John Nash”). As defined by John Nash “This is a stable state that involves interacting participants of a system in which no participant can gain by a change of strategy as long as the other participant remains unchanged”. In the Nash state, a party has no incentive to change strategy given the other players strategy remains unchanged. So if we look closely, we can observe the following:

Point A: (i) Given FG’s position as fixed, ASUU have a strong incentive to change strategy (not yield) by moving to B.

(ii) If ASUU’s position is fixed, FG has a strong incentive to change strategy (not yield) by moving to C. This is not Nash equilibrium since both players have incentives to change strategy holding constant the move of the other.

Point B: (i) Given FG’s position as fixed, ASUU have no incentive to change strategy (yield) by moving to A.

(ii) If ASUU’s position is fixed, FG has a strong incentive to change strategy (not yield) by moving to D. This is also not Nash equilibrium since one player has the incentive to change strategy holding constant that of the other player

Point C: (i) If FG’s position is fixed, ASUU has incentive to change strategy (yield) by moving to D.

(ii) Given ASUU’s position as fixed, FG has no incentive to change strategy (yield) This is also not Nash equilibrium since one player has the incentive to change strategy holding constant that of the other player

Point D: (i) If FG’s position is fixed, ASUU has no incentive to change strategy (yield) by moving to C.

(ii) If ASUU’s position is fixed, FG has no incentive to change strategy (yield) in moving to B. This is Nash equilibrium since neither player has the incentive to change strategy holding constant the move of the other player.

Wow, this wonderful…don't you think so too?