A piece of the global cake.

A piece of the global cake.

Some say it might be a herd trend, but the executives believe is a strategic step in search of cost efficiency but the bottomline is that a sumptous cake is being baked in global outsourcing and IT services businesses and the countries in the emerging market are at the other side of the table to enjoy the billions of dollars that are being doled out. India has taken the lead in the grub with muscling first mover advantage. China is also close behind. But they did not shut the door behind them and there is still large chunk of the growing cake for late-comers.

So is there a place for Nigeria with everybody focussed on dwindling national cake? Can there be an attempt to reach for the more sumptous global cake?
I believe there is a place for Nigeria because we have the resources that can give us national advantage to be a player in this booming industry. But why have we not started up something? I believe, amongst other things, it's false confidence in oil that has blinded us from exploiting other means of earning foreign currency (but the sad fact is that oil can not sustain our future.)

Beside this, india success in the global outsourcing and IT services industry has been championed by entrepreneurs like Nandan Nilekani of Infosys and cloning such success in Nigeria must begin with technology-obsessed entrepreneurs who are "die-hardly" determined to explore the global information technology terrain leveraging on globalisation and harnessing our human resources to deliver a niche service to global companies. The service must be cheap and of international quality.

There are so many reasons this might not be achievable especially the infrastructural state in the home front. So I believe the environment was not not conducive for them in India when they started. It took men that had vision-powered Will to break through into the level of success they have now. And besides, opportunities opened by globalisation has made the playing pitch so flat enough that no player can be considered to be disadvantaged enough not to get into the game.

I believe the future GDP growth of Nigeria will be driven more by service exported that any other thing. I also believe internet and telecommunications technology exploitation can be a great source of future prosperity in Nigeria. So let's build our own Bangalore now. Let's build our technology parks and campuses and invariably we will be building our future prosperity and guarranteeing our chunk of the global Billion-dollar cake.

Naija go beta

Are we suffering from "analysis paralysis" in Nigeria? Everyone seem to have a theory on why things seem not to be perfect but not too many tends to point to the way to utopia (may be it's because they are so consumed in the fire of woe-mongering that they can not see that there can be a leeway out of their self-professed doom.)

A lot of people I know can burn excessive energy explaining the nightmares they are experiencing as Nigerians yet can not whisper a sentence on what should be the new Nigeria dream. The bitterness, the anger and the "finger-pointing" gestures has sapped their strength to dream a new Nigeria and weaken the will to birth this dream.

We know the situation in Nigeria isn't perfect but we can't spend the rest of our lives playing the broken records and wallowing in our bitter complaints- we have to move on!

I do not mean moving on into a new location that fits our escapist ideals (as many Nigerians you find queuing for Visa at many embassies are trying to) but to move on beyond the hopelessness we have conceded to today into a new vision for tomorrow. Let’s begin to move ahead through the thorny jungle we are surrounded with with a course through to a greater and better Nigeria charted in our heart. We can't give up (it is not an option) and we can't remain still, paralysed by pessimistic perspectives of our realities (no way!).

Let's gather our wills together. Let's change our outlooks. It begins with you and l.

Things are looking up...

Have you been catching the business headlines lately, then you should know that millions of dollars are finding their way into Nigeria economy? The banking industry is funneling foreign moneys into Nigeria and I am so glad about this for two reasons: Firstly, foreign investors are putting faith in our economy (imagine this- while some people I call the pessimistic lots are still crying of hopelessness.) and secondly, the financial sector with good enough cash in their boot will help drive the economy to another level.
I know the latter point is not an easy thing and it is premised on the belief that the banks will not be over-driven by greed disguised by profit motive or the corporate cliché of maximizing shareholders' value (same reasoning that has been bane of SME funds reserved in their kitty) and will not fail to play their part in bettering Nigeria economy.NSE

Really, things are looking up. The NSE is growing deeper with over 40% increase in market capitalization in few months and with market index recalcitrant, l mean, not reacting to the political situation in the country too badly. I believe it is a reflection of investor unshaken confidence that things are looking up.

Some people with attention fixated on power situation and infrastructural deficiencies may see gloom in the horizon but I am of the bandwagon sold out to economic vision 20 by year 2020 and Chukwuma Soludo's dreams of making Lagos the financial hub of African businesses. Indeed things are looking up!