EXCERPT from Ekhator’s e-book on “RESTRUCTURING”, Chapter 4
Restructuring is long overdue, however the focus at the moment is myopic, the restructuring debate at the moment is really about oil wealth and redistribution of it so there is more wealth allocation to Southern states where the oil comes from than the northern states. However, this view needs to be re-examined because indeed as already stated in the previous chapter there needs to be more equitable distribution of power and allocation, although the basis for doing this is still shaky. To start with little is truly known of what the real economic situation in Nigeria is by those doing the agitation the loudest.
Most do not know of this chart of our GDP resources nor can they interprete it.
Those driving the conversation or agitation don’t yet comprehend that while Crude oil exports accounts for 90% of foreign exchange, it only accounts for 14% of GDP. They don’t yet comprehend why a small infestation of Tomato plants in the North, led to Tomato scarcity that caused inflation of stable Tomato based products, that affects hunger directly. Most Nigerians haven’t learned the lesson of the “Ghana must go bag”. In other words the same northerners that you think you are subsidizing due to the oil in the south, may be the one feeding them right now with their produce.
However digital technology in the 21st century allows us to see clearer so we know exactly what is what, with the ability to not only collect data, collate it, cleanse it, data-mine it and draw business intelligent decisions that allow us to stop shooting ourselves in the foot or going around in vicious cycles.
Such digital opportunities are currently being exploited in the services sector in the graphic above, but there are many more datamining and business intelligence opportunities still lying fallow until recently such as:
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