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THE EMERGING MARKET ECONOMY ADVANTAGE (By: Oluwatoyin S. Enisan)

- FOR BUSINESS START UPS -

What is an Emerging Market Economy?

In 1981 Antoine W. Van Agtmael of the International Finance Corporation of the World Bank coined the term “Emerging Market Economy”. An Emerging Market Economy (EME) is defined as an economy with low per capita income (PCI). Such economy is at the basic or elementary level of economic development but progressing. EMEs generally do not have the level of market efficiency and strict standards in measurement, accounting and securities regulations like the developed ones. However an EME will typically have a physical financial infrastructure including banks, a stock exchange, unified currency and such other basic indicators. 

Countries categorized as EMEs constitute about 80% of Global Population, such economy also represent about 20% of the world's economies.

A future-focused investor will readily look towards the EMEs because of the numerous opportunities and the prospect of high returns, EMEs often experience faster economic growth as measured by GDP. However, Investments in emerging markets comes with much greater risk due to political instability, infrastructure inadequacies, currency volatility, limited equity opportunities, Undue Government interference, Monopoly issues (many large companies may still be "state-run" or private), lack skilled labor force, Inefficiency of Government services and so no.

The State of the Nigerian Power Sector: Issues, Alternatives and Prospects

The State of the Nigerian Power Sector: Issues, Alternatives and Prospects

An address delivered at:

International Headquarters of 

The Redeemed Evangelical Mission (TREM)

Anthony Oke, Gbagada Expressway, Lagos, on 21st September, 2014,

By

Professor Bart O. Nnaji, FAS, FAEng, CON, NNOM

(Former Minister of Power and Chairman/CEO of Geometric Power Limited)

PRAISE THE LORD!!!

When the presiding Bishop of The Redeemed Evangelical Mission (TREM) Dr. Mike Okonkwo asked me to speak here today I wondered if he understood that I am not a preacher and that as an Engineer, I do not have that colorful language which opens God’s ears widely when the preacher speak! But then, in his letter, he stated that the theme of the program is “The state of the Nigerian Power Sector: Issues, Alternatives, and Prospects”. 

THE POWER OF YOUR VOTE, a catalyst for stable and united Nigeria

Professor Akin Oyebode: 

A Professor of Law and a Lecturer at the Faculty of Law, University of Lagos. He chairs the International Law and Jurisprudence as well as the University’s International Relations, Partnership and Prospects unit; he was a former Dean and Vice Chancellor at the Ondo State University and University of Ado Ekiti Respectively. He was also a delegate at the just concluded National Conference,

 He was the guest speaker at an event titled THE POWER OF YOUR VOTE (a catalyst for stable and united Nigeria), the program was to commemorate the birthday of one of the more forthright and enduring men of God in the land, the inimitable and highly celebrated Bishop Mike Okonkwo, founder and chief motivator of The Redeemed Evangelical Mission, better known by its acronym, TREM. 

In his address Professor Oyebode x-rayed the democratic praxis in Nigeria as against other democracies around the globe in a way that makes for interesting reading as you will soon find out below.

INTRODUCTION 

It is nearly universally agreed that perhaps the most important determinant of the democratic process lies in the capacity of the electorate to choose in a free, fair and credible manner those who are to exercise political power and authority over them from time to time.  Less enthusiastic or, perhaps, one might say, less charitable doubters of the electoral process in bourgeois societies would argue that “elections merely afford the masses once every four or five years the chance to select their oppressors and executioners”!

Yet, as Winston Churchill once observed, democracy was the worst form of government aside from all the others! So, as bad as things might look under a democratic dispensation, especially, bearing in mind our experience here in Nigeria, it should be admitted that the world has been unable to fashion another system that can better offer dividends to the people at large than what democracy does.  Despite its steep learning curve, especially in our own circumstances, democracy, it would seem, continues to fire the imagination of many and is perceived by them as the silver bullet capable of extinguishing most, if not all of society’s woes.

Wages of Impunity, by Wole Soyinka

Wages of Impunity, by Wole Soyinka

The dancing obscenity of Shekau and his gang of psychopaths and child abductors, taunting the world, mocking the BRING BACK OUR GIRLS campaign on internet, finally met its match in Nigeria to inaugurate the week of September 11 – most appropriately. Shekau’s danse macabre was surpassed by the unfurling of a political campaign banner that defiled an entry point into Nigeria’s capital of Abuja. That banner read: BRING BACK JONATHAN 2015.

President Jonathan has since disowned all knowledge or complicity in the outrage but, the damage has been done, the rot in a nation’s collective soul bared to the world. The very possibility of such a desecration took the Nigerian nation several notches down in human regard. It confirmed the very worst of what external observers have concluded and despaired of – a culture of civic callousness, a coarsening of sensibilities and, a general human disregard.

TOYIN'S RUNWAY: ORIGIN OF THE YORUBAS “THE LOST TRIBE OF ISRAEL” B...

TOYIN'S RUNWAY: ORIGIN OF THE YORUBAS “THE LOST TRIBE OF ISRAEL” B...: A NTHROPOS 106.2011: 579 – 595 Origin of the Yoruba and “The Lost Tribes of Israel” Dierk Lange The article is a revised version ...

ORIGIN OF THE YORUBAS “THE LOST TRIBE OF ISRAEL” BY DIERK LANGE

ANTHROPOS

106.2011: 579 – 595

Origin of the Yoruba and “The Lost Tribes of Israel”

Dierk Lange

The article is a revised version of a paper presented at the Conference “Jews and Judanism in Black Africa and Its Diaporas” which was held at the School of African and Oriental Studies, University of London,30 – 31​ October 2010.

Abstract. – On the basis of comparative studies between the dynastic tradition of the Ọyọ-Yoruba and ancient Near Eastern history, the present article argues that Yoruba traditions of provenance, claiming immigration from the Near East, are basically correct. According to Ọyọ-Yoruba tradition, the ancestral Yoruba saw the Assyrian conquests of the Israelite kingdom from the ninth and the eighth centuries b.c. from the perspective of the Israelites. After the fall of Samaria in 722 b.c., they were deported to eastern Syria and adopted the ruling Assyrian kings as their own. The collapse of the Assyrian empire is, however, mainly seen through the eyes of the Babylonian conquerors of Nineveh in 612 b.c. This second shift of perspective reflects the disillusionment of the Israelite and Babylonian deportees from Syria­-Palestine towards the Assyrian oppressors. After the defeat of the Egypto-Assyrian forces at Carchemish in Syria in 605 b.c. numerous deportees followed the fleeing Egypto-Assyrian troops to the Nile valley, before continuing their migration to sub-Saharan Africa.

([Nigeria, Assyrians in Africa, Lost Tribes of Israel, migrations, state foundation, conquest state, dynastic traditions, oral traditions, African king lists] Dierk Lange, Dr. Troisième Cycle (1974 Paris), Thèse d’État (1987 Paris); Prof. em. of African History, Univ. of Bay­reuth. – Field research in Nigeria, Niger, and Libya. – Publications include books and articles on the history of the medieval empires of West Africa (Ghana, Mali, Songhay,Kanem-Bornu) and on the history and anthropology of the Yoruba, Hausa, and Kanuri. – See References Cited).

YOUR WILL IS YOUR VOICE IN DEATH: DEAD YOU CAN STILL BE IN-CHARGE

YOUR WILL IS YOUR VOICE IN DEATH
DEAD YET IN-CHARGE
toyinsrunway

Without trying to scare you I need to remind you that death is a respecter of no one, it comes to the old as well as the young, the male or the female. However the question is; what become of your life’s labor after you are gone to the grave beyond? are you so careless as to allow all comers to feast on them at your death?

While it is understandable that you are careless what happen after you are dead and gone but are you also careless about your love ones after your demise? Is it not better to secure their future even in death? and what better way to do it than to have your your WILL written, spelling out how you wish for your properties to be shared after your death, particularly as an African and in Africa where tradition gives more authority to our extended or distant relatives over the deceases estate.

THE LANGUAGE OF LOVE

Every one need love, in fact no LOVE no life, love is the life blood of society, no doubt.

Man (Male or Female) is an object of love, life becomes more meaningful, more purposeful and more interesting once we start to expend love and enjoy it as being expended on us by others. In an Ancient Book, the Great Master’s reply to a lawyer’s inquest was that the summary of all laws and ordinances is LOVE; love for the most High God and love for fellow mankind (our neighbor).

NATIONAL SECURITY IS OUR COLLECTIVE RESPONSIBILITY By Toyin S. Enisan

NATIONAL SECURITY IS OUR COLLECTIVE RESPONSIBILITY
 

Joh 10:10 "The thief does not come except to steal, and to kill, and to destroy. I have come that they may have life, and that they may have it more abundantly.  (NKJV)

1Th 5:6 Therefore let us not sleep, as others do, but let us watch and be sober.  (NKJV)

1Pe 5:8 Be sober, be vigilant; because your adversary the devil walks about like a roaring lion, seeking whom he may devour.  (NKJV)

2Ti 3:1 But know this, that in the last days perilous times will come:  (NKJV)

“Eternal vigilance is the price of liberty”  

(Wendell Phillips, January 28, 1852)

The above quotations, evidently shows that very long ago both Humanity and Divinity have come to one conclusion: 

FREEDOM IS NOT FREE, IT IS AT A COST.

A) WE HAVE A COMMON ADVERSARY

B) THEIR INTENTION IS TO:

- STEAL OUR PEACE AND UNITY

- KILL US MORALLY, PSYCHOLOGICALLY AND PHYSICALLY

- DESTROY OUR FREEDOM / DEMOCRACY AND HERITAGE / PROPERTY

C) WE HAVE A RESPONSIBILITY / A PRICE TO PAY: That is:

1) SOBER REFLECTION

2) WATCHFULNESS

3) VIGILANCE

4) HOPEFULNESS

These is indeed are the last days; perilous times are surely upon us, or; how do we explain the inferno of terrorism raging across the Globe today.

However we are well able to quench this fiery furnace if each one of us can just add a little drop of water on the inferno.

“OUR LITTLE DROP OF WATER” is by knowing and observing the under listed:  

LEAD-ER-SHIP: INVOKING THE LEAD-ER-SHEEP SPIRIT IN AFRICA

LEAD-ER-SHIP www.toyinsrunway.blogsport.com

INVOKING THE LEAD-ER-SHEEP SPIRIT IN AFRICA

The major problem in the world today; especially African Continent is obviously that of leadership, as Africans we therefore owe ourselves a duty of find solution(s) to the problem. This being the reason why I decided to put down my thought on this important matter so as to help put things in the right perspective. Any you reading this piece will be helping in a great lot of ways by adding your comment and or forward this to others.

Embarking on this write up I asked myself; why should Africa’s problem be that of leadership? And three reasons readily came to mind apart from the general sociological reasons:

1)      Africa’s Past Colonial history.

2)      Military Rule across Africa.

3)      Literary Misinformation / Misconceptions

Information You Need About Registering A Company In Nigeria.

I came across this Article by "LOUDMOUTH" on Nairaland,
so I decided to share it with you because i believe its very important.

Have you ever felt it was high time you launched your business idea but do not have adequate information on registering a business in Nigeria? Or are you confused and do not know the most suitable structure to choose for your business? Have you search everywhere, yet cannot find a central resource to find answers to your pending incorporation-related issues?

It is worthy to note, however, that new policies regularly evolve at our nation's company registry - the Corporate Affairs Commission - so this write up is subject to regular update.

Enjoy reading!

Q1: What is a business name and why is it so important? A business name is the name which a business trades under for commercial purposes. There is more to business names than just identity. A good business name is an adver­tising tool. Many large companies even hire expensive consultants to help them name their businesses, products and services. Q2: I have this business name that I love so much, and I want to start a business under that name. Can I pro­ceed immediately? No. I think the next thing after you must have done a feasibility study on the busi­ness itself is to get the business name regis­tered at the Corporate Affairs Commis­sion (CAC). Q3: What do you mean by Corporate Affairs Commission? Registration of businesses in Nigeria is the exclusive responsibility of the Corporate Affairs Commission, also known as CAC; which has its head office in Abuja, and branches in most states of the federation. The CAC is the federal government agency responsible for registration of all companies. Q4: But I was told that the cost of registering/incorporating a company is expensive. Can’t I go on with the busi­ness then register the name later?

Dr. Nnamdi Azikiwe - GCFR

 

ZIK OF AFRICA

Born in Zungeru in present day Niger State in 1904 to Igbo parents. Dr. Nnamdi Azikiwe spent much of his early life in Lagos. Determined to succeed, he later found his way to the United States of America.


He returned to Africa in 1934 armed with a masters' degree in Political Science and Anthropology from Lincoln and Pennsylvania Universities, as well as strong Pan-Africanist convictions.
He started off in the Gold Coast (now Ghana) as Editor-in-Chief of the African Morning Post in

Abubakar Tafawa Balewa 1912 - 1966

 

Abubakar Tafawa Balewa was born in 1912 in Bauchi State and educated at the Bauchi Provincial School and the Katsina Teachers Training College; He later joined the Northern Peoples' Congress, (NPC) and was a member of the Northern Nigeria team to the Ibadan Constitutional Conference in 1950.

In 1951, he won a seat in the House of Assembly, Kaduna and was sent to Lagos by his party where he was appointed Federal Minister of Transport and Works in 1955.
It was during his tenure that the River Niger bridge at Onitsha was constructed, A fearless and courageous politician, he was a permanent delegate to the various Constitutional Conferences held in London leading to

Nelson Rolihlahla Mandela

Nelson Mandela was born in Transkei, South Africa on July 18, 1918. His father was Hendry Mphakanyiswa of the Tembu Tribe.

 

Mandela himself was educated at University College of Fort Hare and the University of Witwatersrand where he studied law. He joined the African National Congress in 1944 and was engaged in resistance against the ruling National Party's apartheid policies after 1948. He went on trial for treason in 1956-1961 and was acquitted in 1961.

DR. Kwame Nkrumah (The Osagyefo) - 1905 – 1972

Name: Nkrumah Kwame
Date of Birth: 1905-10-21
Place: Nkroful, Western Reg
Father: Kofi Ngonloma of the Asona Clan
Mother: Elizabeth Nyanibah of the Anona Clan
Wife: Helena Ritz Fathia

Childhood Mentor: Dr. Kwegyir Aggrey (Assistant Vice Principal and the first African member of staff at the then Prince of Wales’ College at Achimota)

Education & Career Pattern: Nkrumah was first named Francis Nwia-Kofi (the latter name, after a prominent family personality), but later changed his name to Kwame Nkrumah in 1945 in the UK - he was born on Saturday-.

Emperor Haile Selassie 1892 – 1975

Haile Selassie was an emperor of Ethiopia whose influence as an African leader far surpassed the boundaries of his country. Although his popularity declined near the end of his sixty-year reign, Selassie remains a key figure in turning Ethiopia into a modern civilization.

Childhood
Haile Selassie was born Tafari Makonnen on July 23, 1892, the son of Ras Makonnen, a cousin and close friend of Emperor Menilek II. Baptized Lij Tafari, he is believed to be a direct descendant of King Solomon and the Queen of Sheba, two ancient rulers from the tenth century B.C.E. Raised as a Christian, Tafari was educated by private European tutors.

Chief Obafemi Awolowo: The Peoples Leader

Chief Obafemi Awolowo (1909-1987) was a Nigerian nationalist, a political leader, and a principal participant in the struggle for Nigerian independence.
Obafemi Awolowo was born in Ikenné, Western State, Nigeria, on March 6, 1909. He received his early education in the mission schools of Ikenné, Abeokuta, and Ibadan. Often he worked at odd jobs to raise money for tuition fees, and his entrepreneurial spirit continued to express itself in the various careers which he subsequently sampled: journalist, teacher, clerk, moneylender, taxi driver, produce broker. His organisational and political inclinations became evident as he moved to high-level positions in the Nigerian Motor Transport Union, the Nigerian Produce Traders' Association, the Trades Union Congress of Nigeria, and the Nigerian Youth Movement, of which he became Western Provincial secretary.

The Three-Stage Model of Effective Leadership

A successful leader must be a good communicator.

In 1988, management professors Linda Neider and Chester Schriesheim introduced a tool to help managers understand the leadership process. This tool describes a model of leadership effectiveness in three stages. The first stage involves analyzing jobs, selecting employees and providing orientation training. The second stage involves setting career paths, defining goals and providing rewards. The third stage includes assessing and monitoring performance. By maintaining an optimal environment, leaders achieve more consistent results from their subordinates, in both the short and long term.

Precursor Conditions

PROFESSIONAL: BLESSING LIMAN, First Nigerian Air Force Female Military Pilot.

 Its always Inspiring to have someone work efficiently then succeed and its even pleasant when things go more than they anticipated. Bla bla bla bla. OK. I suppose I didn't need to take you through my motivating speech before I told you why I'm actually HAPPY today.

Well if you still care to know, its actually the story of BLESSING LIMAN, Nigerian Air Force First Female Military Pilot and Just so you know, she loves to look good too.

She was Born 29 years ago (13th March, 1984), Blessing Liman hails from Kaduna State (kai! Those KD gals! Lol!) and is an indigene of Zangon Kataf Local Government Area. She later attended the Nigerian College of Aviation Technology (NCAT), Zaria, Kaduna State. She was of the SP-24A set of pilots and they were referred to as the Knights of the Air.

Can South Africa Help Nigeria to Industrialise?

I came across this article today, and this phrase caught my attention.

 “The real question is whether such cooperation could ultimately evolve into meaningful, broader, economic integration rather than the network of mostly hollow shells that currently masquerade as free trade agreements,”

Lets hear what do you think Guys?

Read Full Story on Author's Website

WOLE SOYINKA'S BIOGRAPHY

Photo Credit to www.nigerianrising.com.ng

Updated in 2012 – Wole Soyinka Biography: Profile & Life History
Professor Wole Soyinka was the first and only Nigerian to win a Nobel Prize and the second African to achieve the same feat. This article looks at the life history of the Wole Soyinka, as well as other little known facts about him – such as his books, literary works, and quotable quotes.

Wole Soyinka Biography

Prof. Wole Soyinka, named Akinwande Oluwole Soyinka, was born on the 13th day of July, 1934 in Abeokuta, Ogun state, Nigeria (therefore Wole Soyinka age as of present is 78 and Wole Soyinka nationality, without doubt, is Nigerian).

He hails from Isara Remo in Ogun state.

He was the second of the six children born to his family. His father, Samuel Ayodele Soyinka was an Anglican minister, and his mother, Grace Eniola Soyinka, was a trader.

HOW TO CHOOSE THE RIGHT COURSE TO STUDY IN NIGERIAN UNIVERSITIES.

Going to university? Choosing the right course is a big decision and it is important to get it right, as it can impact your future success, and for those doing a course they are not happy with, nothing is set in stone! Read on!

STEPS
Tips and Warnings
1. What interests you? 
List the fields of study that interest you, and come up with a list of courses you would consider studying based on these interests. Add the topics that you were most interested in during school as well as jobs that you envied others for.

2. Research:
The internet, newspapers, television and people around you are the best sources of information. Check online about the courses you are interested in and find out about the career prospects and the other info. Speak to people who are in your interested profession and find out what it is to choose your future career.
People who have completed university courses can give you an insight from a student’s perspective - they can tell you the pros and
cons.

3. Course Content
To avoid making mistakes, make sure you review the course outline of the course(s) you want to apply for. Have a look at the subjects you must undertake and the types of learning, assignments and examination tasks involved. This will enable you to form a rough idea of what lies ahead for you.

RECOVERY OF PREMISES: AN ASSESSMENT OF LANDLORD/TENANT LAW IN NIGERIA - Ijeoma Okoronkwo

Every day with the increase in population, there is a concurrent need for houses to accommodate this rising population. As a result, there has always been the need for individuals, corporations and governments to build and lease or rent houses to fill this void. These houses could either be for residential or commercial purposes. This has brought the need to regulate the relationship between landlords and tenants so as to avoid arbitrary increments in rents, wrongful eviction and illegal holding over of premises. The procedure for recovery of premises is largely regulated by statutes. Accordingly, a landlord who seeks to recover his premises from a tenant must strictly comply with the provisions of these statutes. In other words, the slightest deviation from the requirements of the law will frustrate an attempt to recover possession of premises no matter how troublesome and terrible such a tenant may be.

Every State in Nigeria now has its own law on recovery of premises. Some of these laws include:

· Recovery of Premises Act. Cap 544 Laws of the Federation of Nigeria (Abuja) 1990

· Rent Control & Recovery of Residential Premises Law, Vol. 7, Laws of Lagos State, 2003

· Lagos Tenancy Law, 2011

Section 2, Recovery of Premises Act Cap 544 Laws of the Federation of Nigeria (Abuja) 1990 states that a landlord is a person entitled to immediate reversion of the premises and includes the attorney or agent of any such landlord or any person receiving (whether in his own right or as an attorney or agent) any rent from any person for the occupation of any accommodation in respect of which he claims a right to receive same. This section further states that a tenant includes any person occupying premises, whether on payment of rent or otherwise, but does not include a person occupying premises under a bona fide claim to be the owner of the premises. The Rent Control and Recovery of Residential Premises Law, Vol. 7, Laws of Lagos State of Lagos State of Nigeria 2003 expressly include a sub-tenant and service tenants (homes occupied by virtue of employment) for the purpose of recovery premises.

SOLIDARITY IN AFRICA - Odumchi

As Africans we are blessed by our creator who generously endowed us with many gifts. Our continent boasts a wide range of environmental variety: ranging from the icy peaks of Mount Kilimanjaro in East Africa to the thick jungles of Central Africa, and the dry plains to the south. Our homeland is flowing with natural and mineral wealth: as evident in the diamond mines of South Africa, the gold pits of West Africa, the oil fields of North Africa, and the majestic Nile which meanders its way down through East Africa.

Our peoples have grown strong and accustomed to the rugged lifestyle which our environment demands. Thousands of years of struggling have led us to perfect our societies and cultures, enabling us to survive on the land and use it best for our needs. In associating and interacting with ourselves we have formed powerful unions and relationships with one another, advanced cultures and societies, and powerful kingdoms and empires.

THE FIRST EVER PHOTO UPLOADED ON THE INTERNET

The first picture ever uploaded on the web was posted by Tim Burners Lee (inventor of the World Wide Web) on behalf of a comedy band called Les Horrible Cernettes.

 Every day millions of photos are uploaded to the Internet on countless blogs, Facebook, Flickr, Twitter, etc. But have you ever wondered what the very first image upload looked like? Well look no further, because the tech site Motherboard has done the digging for you.

In 1992, a picture of the parody band Les Horribles Cernettes, that was digitally altered in Photoshop, earned the distinction of becoming the first Web photo upload.So who are these ladies pictured in the image? The group of ladies were lab employees who worked for CERN, a research laboratory in Geneva where major discoveries have been made, including the project that started the World Wide Web, created by British computer scientist Tim Berners-Lee.

HOW TO WRITE A CV THAT "WORKS" IN NIGERIA

According to Naira Career. Observation shows that composing a CV in Nigeria is certain thing persons put off for as long as likely and when they eventually get to it, they have the impression that so long as important components such as work experience, informative qualifications and bio-data are in location, a CV is complete.

I plead to contradict. I accept as true that your CV is an account or narration of yourself. It is YOU talking about YOU in YOUR very own phrases and in the best way likely. It starts from who you are, to all the places you have been and how you have assisted to those places; your achievements, how you expended your time, and even individual minutia like your marital status and so on. Bearing this in brain, every minutia and information supplied should be meticulously considered and articulately offered. Put your most flattering features or accomplishments up front and then move step-by-step to less flattering features.

A SOBER REFLECTION – Babajide Ikuyajolu

The lavish life of a Nigerian liability begins with a contemporary lifestyle too extravagant to contend with. An attitude embedded deep within the mind, only visible when excited perhaps tempted. The orientation that was supposed to be our guide, now dissolved by the inhospitable administration of our government. Now we dream even in daylight, hoping that one day this misconception would be reversed perhaps to a better state.

This period, I grieve, and I'm taking a moment to think before I continue to write the agony I feel for the disoriented Nigerian youth.

The Nigerian youth are left with the crumbs of corruption that fell from the tables above them, now they linger in their heart, mind, causing an epidemic that mutates their perception. Only few are able to embrace this cruelty and desire change. The effect of this action, now reflect on the attitude of our youth. Low regard for opportunities, no value for information. Our course of livelihood now depends on deception, prostitution; the urge to have money at all cost never cease to grow root in their minds. This boomerang continues to manipulate their minds, leaving them unconscious and mentally disabled. Now new generations that emanates are a year better fraud than the next.

ABUSE OF FOREIGN FRANCHISES

Culled from Nigerian Best Forum. As more franchises from abroad find their way into Nigeria giving birth to new businesses, the immediate concern before the country’s policy makers should be how to strike the right mix of foreign inputs with local content.
With very low production base and an economy that is heavily dependent on imports, Nigeria would be mortgaging its future if the government left things to play out in the manner of the vagaries of demand and supply. Over reliance on franchised businesses that are heavily skewed in favour of foreign investors is neither healthy for the growth of the local industry nor the economy for that matter.

Major urban centres are now littered with many businesses that have their roots in a franchised model and it cuts across various fields including agro-allied, hotel services, eateries, building materials, construction, banking, educational, auto sales and repairs, IT repairs and services, consulting services, real estate and so on.

Whilst it is true that franchised businesses have boosted employment opportunities in the country, it could also be argued that the local content has not been developed in terms of expertise put into these fields and importantly, the franchise rights appear mostly domiciled in the hands of foreigners instead of Nigerians which makes the issue of empowerment still an illusion.