Dreaming of Wakanda

  Environmental Degradation Businesses in Nigeria, like in any other capitalist country, aim to make a profit. However, in recent times, there has been a growing concern about the impact that businesses have on society. In Nigeria, the debate is even more significant due to the country's socio-economic challenges. In this article, we will explore the profit versus social impact debate in Nigeria. Profit is an essential factor for the survival and growth of any business. It allows businesses to expand, create jobs, and contribute to the economy. However, businesses that purely prioritize profit over social impact often neglect the social and environmental implications of their actions. These businesses may engage in unethical practices such as environmental pollution, exploitation of workers, violation of human rights and generally poor corporate governance practices. On the other hand, businesses that prioritize social impact over profit aim to create a positive impact on society w...

  Corruption has been a major issue in Nigeria for decades. Despite numerous attempts to combat it, the problem remains endemic in the country. From embezzlement of public funds to bribery, corruption has had a devastating impact on Nigeria's economy and society. In this article, we explore the roots of corruption in Nigeria and its effects. Then we examine the difficulties in curbing it. A Brief History Lesson The history of corruption in Nigeria dates back to the colonial era. During this time, the British used a system of indirect rule to govern Nigeria, which involved working with local rulers to maintain order. However, this system allowed for a significant amount of corruption, as the local rulers were often given too much power and were not held accountable for their actions. In memory of the Master After Nigeria gained its independence in 1960, corruption became even more widespread. The country's first leaders were more focused on consolidating their power and enrichin...

  A future of poverty? Poverty is a major challenge facing Nigeria. Despite being one of the largest economies in Africa, Nigeria still has a high poverty rate. In this article, let us explore the economics of poverty in Nigeria, its causes, and its impact on the country's economy. Abraham Maslow was an American Psychologist, who proposed the hierarchy of needs theory in the 1940s. This classic depiction of human motivation assumed that there was a hierarchy of five (5) needs within every individual: Physiological needs: These are the basic needs of air, water, food, clothing and shelter. In other words, physiological needs are the needs for basic amenities of life. Safety needs: Safety needs include physical, environmental and emotional safety and protection. For instance- Job security, financial security, protection from animals, family security, health security, etc. Social needs: Social needs include the need for love, affection, care, belongingness, and friendship. Esteem n...

In recent years, the Nigerian business landscape has witnessed a surge in the philosophy of profit without production. This approach to business involves the pursuit of profits through means that do not necessarily involve the production of goods or services. While this may seem like an attractive and easy way to make money, it can have severe consequences for the economy and society as a whole. One of the ways in which this philosophy manifests itself is through speculation in the foreign exchange market. Individuals and companies buy up foreign exchange (mainly USD) with the anticipation that the Naira will gradually weaken against the Dollar. This has been an easy, yet highly lucrative investment strategy in Nigeria for a number of years now. If "lucky" (or connected) enough to purchase at official rate (N430/$1) and sell at the parallel market (N730/$1), you don't need a fancy finance certificate to make easy profits... To the detriment of the country's foreign re...

The mentality we adopt can have a significant impact on our business and professional success. Two of the most commonly discussed mindsets are the scarcity mentality and the abundance mentality. Understanding these mentalities and how they influence our thinking can help us make better decisions and achieve more significant results in our careers. The Scarcity Mentality A scarcity mentality is a belief that resources are limited, and there is not enough to go around. In Nigeria, this mentality is often seen in businesses that struggle to survive due to a lack of resources such as capital, infrastructure, and skilled labour. It may sometimes be referred to as a "dog eat dog" mentality. Many small businesses in Nigeria have to compete with larger, more established companies with more resources and funding, leading to a sense of scarcity. For example, a small restaurant owner in Nigeria may focus on the competition with other restaurants in the area, rather than the potential fo...

In the world of business, success often depends on the decisions we make and the risks we take. One of the fundamental questions we can ask ourselves as business leaders is, "Do we live our lives based on fear or faith?" This question may seem simple, but its answer can have a significant impact on our businesses. This article will explore the concepts of fear and faith in business, their impact on our decisions, and how we can choose to lead our businesses based on one or the other. Fear - the limiting factor Fear can be a powerful emotion that holds us back from achieving our goals in business. Fear of failure, fear of rejection, and fear of the unknown can prevent us from taking risks and making bold decisions that could lead to success. When we live our lives based on fear, we often become reactive rather than proactive, and we miss out on opportunities that could have been beneficial for our businesses. Faith - the driving force Faith, on the other hand, can be a driving...