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Nigeria – In Numbers

by on August 25, 2016
 

1. *Power*

Nigeria started generating power in 1898.

In 118 years, Nigeria has managed to generate and distribute no more than circa 5,000MW or 5GW annually

Compare to China who generates an *ADDITIONAL 20,000MW or 20GW annually from Solar alone*

You don’t want to add what China is developing from Gas, Hydro, Coal, Wind, and Bio. You just may get depressed.

This means that….

What Nigeria generates annually after 118 years of generation, China is able to generate incrementally from Solar alone in 3 months only.

Yes….3 months!

If you add other sources outside solar, those 3 months could reduce to minutes…..

The idea of this writing is to shock you.

So…. Be totally shocked

The numbers and comparisons were intended to shock us out of our stupor-like decadence and intellectual laziness with unfounded sobriquet like “Giants of Africa” ringing in our empty ears.

Show us who we really are, where we really are, and where we might be headed

That’s firstly..

Then secondly….

To point at our human resource as our critical resource and as the path forward.

To highlight the foolishness resident in crude-oil-laden thinking,  which has so engulfed us as a nation.

To return to the Nigerian female and Nigerian male. And recognize them for who they are…..

Our most prized national assets

2. *Crude Oil and National Income*

This year alone just four companies are bringing investments of over 10 Billion USD into the Chinese pork industry. Nigeria has not attracted that that its almighty crude oil industry this year.

Brazil makes more money from Sugar Cane than Nigeria makes from Crude Oil.

Brazil’s sugar cane industry employs 1.1million Brazilians and generates 86 Billion USD annually for Brazil.

If Nigeria can generate half of that figure (only 43 Billion USD) from crude oil this year, we will throw a grand celebratory party

3. *National Budget*

Nigeria’s entire national budget for 2016 is 6 Trillion Naira. It is its highest budget ever.

In today’s bank to bank rate,  that’s about 17Billion USD

On Friday November 28, 2014, just one company in America called Walmart, made sales of 8.5 Billion USD in a space of 24 hours.

Yes…you read it right just one company, Walmart, made sales as much as half of Nigeria’s entire annual budget in a space of 24 hours.

And in case you need to know, Walmart makes annual sales in the region of 480 Billion USD.

Let me tell you what this means….please be prepared:

It means that one company alone, Walmart, from its revenue from one year only, could have financed Nigeria’s budget from when I was born till date.

OK….let’s move on….

Official figures say that America has over 2,000 (two thousand) cities. One of those cities is New York.

New York City’s budget for 2016 is 73 Billion USD. Or Nigeria’s national budget multiplied by four.

That means, that New York City alone, from its annual budget, can finance every single government expenditure of all governments (federal, state, and local governments) in the entire Nigeria for 4 whole years!

Just to add perspective, kindly note that New York is a municipality – our equivalent of Local government

Recall my numbers from above? Note that from just revenues for one single year,  Walmart could have been able to fund Nigeria’s budget from independence till date. Even with necessary adjustments for inflation and time value of money.

Understand the consequences of this? That one, (just one o!), well placed business in America, made more money in one year than Nigerian entire budget for last 56 years.

That’s wealth creation the super entrepreneurs way. And Walmart is a “super-enterprise”

If we faced wealth creation via this vehicle I call “super-enterprise”, through the creation of new economies that crude oil would come only a very distant second to, we would be well on our way to global stardom.

However the know-how to create this kind of new wealth is locked away in people’s brains. They need to be released. Hence…..your 200 million strong human assets are your most critical

And it is easier these days. Simply because of our brave new world propelled by brave new technologies. A flat world where goods and services can be produced anywhere and sold anywhere, at near zero delivery costs.

It means that our potential addressable market is suddenly closer to 7 billion people than it is to 200 million people.

And it means that the super enterprise way may have just been made easier to achieve…

And please note, all this shout about corruption this corruption that. Note that the source and focus of most of our corruption is crude oil and crude-oil-laden thinking. It is crude oil and Allied proceeds sharing that has led to most of the corruption we know today. So you can imagine that it is possible to drive a drastic reduction in corruption and like thinking with an approach that totally negates amd belittles crude oil

If China can make as money from ordinary pork meat as we make from crude oil, and Brazil can make double the money we make from crude oil, from that piece of edible grass called Sugar Cane, go figure!

Written by Emeka Orjih

 

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