The Cartoonist Blogger

The Central Bank of Nigeria, CBN, Governor, Mallam Sanusi Lamido Sanusi, has said the apex bank has reached the desired degree of stability for the Naira and does not have a cause to be concerned over inflation due mostly to recent stability in its core components.

He said: “When the naira reached N167 to the US dollar in October, every currency was going through a crisis. Now, we have retraced that. We have created the stability that we needed. We have stopped the panic”

Inflation rose to 10.5 per cent in October from 10.3 per cent in September, but Sanusi said a breakdown of month-on-month numbers shows that “inflation has come down on all three components: headline, core and food inflation.” According to him, “year-on-year, core (inflation) hasn’t increased which has not been the increasing trend seen in the past. Month-to-month (inflation) has been moderating and core (inflation) is also not increasing (which) would suggest that as far as non-structural components are concerned at this moment … we don’t have a cause for concern.”

The CBN governor, also, disclosed that the bank might reduce its exposure to euro and buy Chinese renminbi. He added that the exposure to renminbi might “most likely” result in arbitrage deals to the detriment of the euro.

Well Thanks that the Price is currently stable and won't go above these figures.

With little fanfare Recently, a key United Nations commission made a remarkable statement: it declared, unambiguously, that broadband access is a basic human right, right up there with the right to healthcare, shelter and food.

Well I can't say if This right is for the Western world or If those in Africa is included as Internet Facilities here isn't as it is in many other countries. Being so expensive and the delivery speed isn't up to it. Also many people are still faced with the problem of having the Basic Necessities of Life.

If this is a Basic Human Right then its already being violated in many places.

They say an Idol Man is the devil's workshop.
With the growing trends of unemployment around the world and most especially in our dear nation Nigeria, More and more hands are gradually being put to the wrong use as many of our teeming youths today are resorting to several unlawful and fraudulent acts.

The number of our graduates that are yet unemployed is highly alarming and having thousands of fresh graduates coming out of the University every year to join the millions that are already still out looking for job in the labour market will altogether choke the system which can only make provision for employment for just a percentage of this large number of people.

Many among these unemployed has resorted to several thoughts and ideas to create employments for themselves in whatever way they can. While some have been able to push a few things to help themselves in the entertainment industry, some others gone to do some handy work, Some others are just hanging there in the middle not knowing what to do and still running from one firm to the other and submitting one form or the other, the rest has resorted to the devil's workshop (Internet Fraud, Lotto - Baba Ijebu, Gambling, Armed Robbery, Street Thugs, Pick Pocketers and Now even into Terrorism) where they can find it easily but not without a cost in the long run for them.

The Government needs to come out and tackle the issue of Unemployment and find a way to utilize and take advantage of these vast available manpower that is now being channeled into several unlawful act for the development and growth of Our Nation Nigeria.

Corruption is a Cancer that has totally paralyzed the Growth and economic development of a great Nation Like Ours Nigeria. And this Corruption is seem in almost all institution and body in the country and carried out by people of almost all age group from the age of accountability.

Tackling this corruption is one of the Biggest Challenge the Government is facing and the more they try to curb it the wider it spreads across the country and that is because it has a base also in the government system and so it would be almost difficult to tackle it.

In the 70's and 80's Little was being said about Corruption as Nigeria was still growing and that with men of honor, integrity and honesty occupying some of the bodies and institutions in the country but in the late 80's and 90's the doorway became wide open for a free and fare corruption which till today many people are yet not satisfied with what they have since looted.

And Little wonder to the fact that the highest level of Corruption being made in Nigeria is done by Civil servants and this was confirmed in a detailed report by Transparency International (TI) one of which says that Nigerian civil servants alone took bribes worth over N450 billion ($3b) in the last one year. According to the studies of corrupt behaviors in various public and private sectors of the economy done by the TI, it was confirmed that “previous findings showed that bribery is particularly widespread in the construction, energy and extractive industries, "

According to the publication, in Nigeria, which is one of the countries with dominant extractive industries, “corrupt civil servants in oil-rich Nigeria pocketed some $3.2 billion (2.3b euros) in bribes in the 2010/11 financial year alone.”

With Such Reports and from Our Personal experiences with the Civil service operations in Nigeria one would wonder who is more involved in Corruption in the country.

Is it The Government itself or the Civil Service ??? You be the Judge.

Tax Revenues are supposed to be pumped back into the well being of the Tax payers in providing more social and environmental facilities that will improve the standard of living of the people. Such funds are usually used in Building road networks, provide and maintain a steady power supply, Build Schools, health centers and and other social Amenities that makes live comfortable and at ease.

But the Situation in Nigeria is far from this as the government's revenue keeps increasing every year while the situation of the people continue to worsen with many now struggling to keep up with their Businesses and Jobs.

This will only leave one to ponder around these questions.
What has Our Government been doing with all these taxes and revenues they keep getting from us and where are the Social amenities that are supposed to be in place for the Good of the Country and in the improvement of their standard of living?.

Nigerian president Goodluck Jonathan has invited and assured foreign investors that the country is safe and secure to do business.

The president who was speaking at 17th Nigerian economic summit Thursday in Abuja urged the local and foreign business community not to be afraid of the terror activities of Islamic religious group Boko Haram describing it as only a temporary setback .

Jonathan says government is committed to its transformation agenda which he said is already yielding fruits saying that there is no better time than now to invest in Nigeria.

The president admitted that inadequate supply of electricity remains a major challenge to investors in the country, but said that the power sector also provides investment window to willing entrepreneurs. The theme for this year’s national economic summit is attracting foreign direct investment through global partnership.

The Oil Subsidy removal issue has been going on for some time now and several reasons has been made on why the oil subsidy must be removed.

President Jonathan said he wants to remove fuel subsidy so as to free up money for infrastructural development. This funds mount up to a whooping N1.3trillion. They argue that a cartel or cabal has hijacked the subsidy programme of government to the detriment of the rest of the citizens at whom the programme is targeted. And in their wisdom, the best solution is to remove the subsidy and allow the price of petroleum products be decided by the forces of demand and supply, ultimately increasing the pump price of fuel by well over 100%.

The point they are not trying to bring out is to let Nigerians know these Cabals or King Cabal that has taken over the subsidy programme or on how to take them down and out.

Whatever be their motive towards this removal I just hope and pray it turns out favorable to Nigerians and reduce the influence of the King Kabal in Our Nation's Economy.

General Owoeye Andrew Azazi, the National Security Adviser has accused the United States Embassy in Nigeria of spreading unnecessary panic over its claims that the Boko Haram fundamentalist sect may launch attacks on three prominent hotels in Abuja, the Federal Capital Territory.

The US embassy had yesterday alerted American citizens in Nigeria that it has information that the militant group which activities resulted into scores of death over the weekend in Damaturu, Yobe State may strike in the three top hotels highly patronised by the expatriate community during the Eid-el-kabir celebrations.

The embassy therefore warned US citizens to keep off the hotels.

But Azazi told a news agency that the alert of possibility of attack on the hotels is not a new one.

“The (U.S. statement) is eliciting unhealthy public anxiety and generating avoidable tension,” said the NSA.

He also assured that the government will continue to protect lives and property of Nigerians.

According to him, the security services have for the past three months implemented measures to prevent such attacks.

Azazi advised members of the public to go about their business without fear.

Well the way things are going it seems everything is just under alarm and everyone needs to take control of their lives and property in anyway they can.

Lack of productive performance in any group or organization is the fruit of having the wrong personnel heading such a group or organization. The best way to tackle such flops is to give the axe to the head of such group or Organization.

The NFF did that to Siasia and I Think Our Security Chiefs and Ministers needs that too and a bigger hole should be made for them to be axed out.

This is just the best way for you to Hit your targets when you don't actually know what your target is. Just Throw your dart at whatever and make your target around it.

I Guess that is the General Ministerial Formula and Probably that's the reason why No Minister has been able to completely make any visible impart that has benefited Nigerians.

No One or Organization can accept to pay a dept it does not owe. If NNPC is claiming it is not owing or that it has not embez..ed that huge amount of money why then have they agreed to pay it.

Whether paying under duress or not, you have already agreed to that.

GRIM, WHY GRIM.
No Food to Eat, No Light to see or do my work and No Security.

Why I No go dey GRIM.

GEJ - My Dear Nigeria, Sorry I Have to do this to You whether you like it or not, I showed you the Waters (Fountain of Fuel Subsidy) to drink but you refused and yet your situation is not getting any better.

Now you have to take this Bitters (Subsidy Removal Bitters) so that it can cleanse your System of all forms of Corruption that has kept you in this terrible situation.

Now Open Your Mouth and drink this Bitters or I ...

My Dear Nigerians, I Have brought you to the water (The Fountain of Fuel Subsidy removal) and you have to drink or we may have some serious problems if we continue with this thirst. GEJ.

We might not find a better stream than this at this time to enable us achieve our developmental goals.

Nigerian People are you willing to drink this???

Starting up a business and keeping up with that business is a tough herculean task considering all the hassle one will need to go through just to start up the business. In surviving and running such a business in Nigeria requires a lot of innovativeness.

Here are some of the known Challenges that most Business owners or starters would definitely have to face while starting or running their businesses.

1. Lack of Infrastructure
The first business challenge you will face when doing business in Nigeria is infrastructural challenge. Nigeria lacks the basic infrastructure and logistics to support entrepreneurship. If you are going to run a successful business in Nigeria; then you must have the financial muscle to provide your own infrastructure.

Take for instance you want to start a manufacturing firm in Nigeria; you will need to build your own factory, provide your own water supply and other amenities that encourages business operations. Infrastructural challenge will directly or indirectly increase your start-up overhead cost so you have to properly factor in this challenge in your business plan.

2. Poor Power Supply
Poor power supply is the next challenge militating against the successful growth of small business start-ups in Nigeria. Successful companies operating in Nigeria has found a way to deal with the challenge of power supply by providing their own power. while few others have moved into neighboring countries where power supply is stable. If you are successfully going to operate a business in Nigeria; then you must map out a plan to curtail the harsh effect of poor power supply.

3. Inadequate Security
Security is the next challenge you must deal with especially if you are a foreigner wanting to invest in building a business in Nigeria. apart from the efforts of the security forces you still need to factor in the cost of providing a private security for your business to avoid the unwanted that can ruin your business.

4. Inconsistent Government Policies
Government inconsistency is really a challenge you will have to tackle if you must succeed in Nigeria as an entrepreneur. Governance is something entrepreneurs have no control over; all entrepreneurs can do is to influence government’s policy with respect to enacting favorable business laws. But you must have political clout and massive resources to be able to influence government laws. The best strategy to combating the ever changing policy of the government is to keep a keen eye on government laws and swiftly adjust your business to align with the policies.

5. Transportation Challenges
The next challenge of doing business in Nigeria is the poor transportation standard. As expected; the dependable source of raw materials may not be situated close to its market. So you will have to decide if to locate your business close to the raw materials or close to your market. Either way; transportation of either raw materials or finished goods will be involved and this will pose a great challenge if you intend operating in Nigeria.

6. Inability to access funds
Of all the business challenges involved with starting a small business in Nigeria; this one interest entrepreneurs the most. Inability to access funds and banks unwillingness to support entrepreneurship and small business is the major barrier to massive entrepreneurship growth in Nigeria.

7. Lack of Governmental Support
The last but not the least challenge of doing business in Nigeria is government’s insensitivity to the plight of entrepreneurs and small business owners. And the result of these insensitivity surfaces in the form of double taxation, unnecessary levies and duties; and high cost of obtaining business licenses.

8. Corruption
Corruption is a cancer that has eaten deep into the hearts of governance in Nigeria and can be seen in almost all aspects of governance and organizations here in Nigeria, When starting or running a business in Nigeria you need to be aware of such challenge and make sure your business is genuine and you have acquired all necessary document needed to certify your business or else you might become a money bag for some people who will want to take advantage of you and ripe you of the little money you are trying to use to run your business.

In conclusion, Doing business in Nigeria can be so challenging but if you are able to overcome this challenges you will surely enjoy doing business in Nigeria as you have a ready market for whatever business you want to operate in Nigeria that will be willing to give you the financial pleasures you want to derive from your business but that's if you are willing to put in the effort to make yourself a brand in that business niche.

I highlighted these challenges not to discourage anyone wanting to start up a good business in Nigeria; but to help you prepare in advance in order to overcome this challenges and take up business to the zenith.

Best of Lucks.

A Statistics by a Federal Government agency, Rural Road Access and Mobility Project, has revealed that 85 per cent of Nigerians roads are in bad condition.

Only about 15 per cent of more than 16,000 kilometers of secondary and tertiary roads in the country were motorable while the local government roads were worst hit as about 70 per cent of local government were roads impassable.

Out of over 160,000 kilometre of secondary and tertiary roads in Nigeria, with an average registered network of 4,000 kilometres per state, only about 10 to 15 per cent is paved.“While a large proportion of this network remains in poor or very poor conditions, with only 15 per cent of federal roads in good conditions, it is sad to note that rural roads that are statutorily referred to as local government roads which constitute about 132,000 kilometres (67.7 per cent) of the entire road networks in Nigeria are the worst hit by this state of disrepair.”

This bad roads has several negative effect on agriculture as about 20 per cent of total agriculture production never reached the market due to bad roads.

This roads are generally in poor condition, leading to loss of several lives in road accidents, causing damages to vehicles, and contributing to hazardous traffic conditions in spite of the huge resources channeled toward road constructions , yet the deplorable conditions of most Nigerian roads still persist.

How Long will Nigerians continue with this Situation.