Happy New Month Fam!
How has it been at your end?
In Nigeria where I currently reside (temporarily 😉 ) , February 2019 was all about elections.
First, it was the INEC postponing the Presidential Elections by one week Based on Logistics 😉 and then the election day came and it was a battle at the RIGS… It was more of a survival of the “riggest” if You know what I mean.
Long story short sha, Sai Baba has won another 4 years..this time, he promised to take the “not so good” CHANGE we experienced in the last 4 years to the NEXT LEVEL…Whatever that means and for the umpteenth time, the Kadarshians of Northern Nigeria have proved that they hold the reins of power in this country. They are the KINGMAKERS..Speak whatever grammar You want to speak on Social Media, when it is time to determine who gets another 4 years, it is their calling.
As You already know, I am not a Politician, I am a cold blooded Businessman so with every event, I look at the effects on Business and Cashflow and Money making… Nwanne m, we need to secure the bags.
Prior to the elections, Financial Derivatives LTD one of the economic think tanks in Lagos Nigeria had predicted that REAL BUSINESS will start in Nigeria as a country in the 4th quarter of 2019..AKA.. We will spend January to September doing ELECTIONS, SELECTIONS and maybe REJECTIONS.
Now that Baba has entered again, I fear for what Foreign Investors will think about the NEXT LEVEL agenda.
As a matter of fact, I saw articles online that postulated that Investors had lost as much as 170 Billion Naira as a result of the announcement of election results.
I am not sure how true they are sha, You know with the advent of FAKE NEWS, You dont know what to believe on the internet any more.
What does this mean for Business and the economy?
Away from the Macro-Economics, what does it mean for the common Man and the small players that are just trying to find their bearing..
I work predominantly in the Tech Sector and I know that as at 2015, a Macbook that retails for $1000 sold for about 180,000 in Naira (plus the retailer’s profit) but today that same Macbook, not a new model, is still $1000 and it sells for about 380,000 in Naira.
When I started web development, You could purchase a domain name and basic hosting for as low as 2,500 Naira but today that same domain name and hosting space will cost at least 8,000.
Do the Maths Bro..do the Maths… things are just TRIPLING IN PRICE on their own.
What is the way forward if You ask me?
Well, the way forward, is always forward.
We can only HOPE and PRAY…that is what the Nigerian knows how to do best.
But as a Business Person or a Person in Business :-), You should KNOW that HOPE IS NOT A STRATEGY!!!
You need more than hope to weather the economics storms that are imminent.
In the coming days, I will expect that Baba will return to London to vacation and rest from the many rigours he has undergone during the campaign., this leave the reins of power in the hands of the Prof.. some are calling him Star Boy already… so I am hoping as usual that he will do some WIZKID things and WIN the trust of our foreign investors and also make decisions that will be beneficial to the every day business people as we all DOUBLE OUR HUSTLES to see if we can recover some of the cash we have squandered during the elections.
With that said, I wish You a happy new Month once again and WHATEVER it is You are up to in the days to come, I HOPE it is PROFITABLE.
Yours in this hustle,
I am Seun Ogunmola I help People and Organizations to leverage on Technology to achieve their goals Faster, Easier and Cheaper.
I also write on diverse subject areas including Finance, Business, Productivity and Governance.