₦airaland Forum

I think that Unilag is basking in the 'euphoria of a past glory that is lost' so also many Fed universities. No doubt, there are few pockets of students that will stand out in the crowd but a large majority are in my own opinion below average in all aspects. This might be an extremely skewed and biased view but let's stop and ponder on some thought provoking issues for a while. The level of education is no where at par with international standards though I know some will still argue along the lines of "Unilag,OAU,UI et al. are internationally recognized" etc. Exam malpractice is the order of the day where in some cases as I am told,it is similar to the popular 'who wants to be a millionaire TV game show' where people even have a "50/50 and phone a friend option". The list goes on and on and on.

To the poster, I am happy that you have decided to enroll at Unilag, I think that this is a good plan because you are thinking in the 'long term' which is what we the future generation need to imbibe instead of opting to take the 'path of least resistance'. Personally, I would do the same because Unilag is still a 'lesser evil' when the two necessary evils are compared (Unilag vs. LASU). I don't even know where to start with LASU!

However, the Unilag option has some perceived downsides. Have you considered the possibility of strike actions and its impact on your decision especially now that you have lost two years? If you say money is not an option and you are intelligent as cited, why not look at study abroad? In this regard, you are guaranteed to finish in three years whilst also taking your preferred course of study.(Personally, I think finance is overated!). You have also cited that you are considering the MBA route after your undergrad. This is also good but try and have some relevant work experience before you take this route. You can also consider some specialist certification whilst you at it.

On a personal note, I admire your decision to aim for a 'first' but remember that having a 'first' alone doesn't not equate to long term career success. It might help you get your foot into the industry of your choice and maybe ahead of your peers and then what? (Yet again, I would personally hire an undergrad with a 'mediocre grade who understands the dynamics my business over and above his contemporary with a first, who is just good at 'crunching numbers and looking at spread sheets') Please, try and network, make friends both 'good,bad and the ugly' because at some point you will need them!

Beyond the stars that we all aim for, there are billions of galaxies yet undiscovered! We tend to limit our potential by defining our ability within the confines of a strategy that is strait and holds a lot of assumptions constant. Strategy should evolve as we humans also evolve! I hope you will be able to read 'in between the lines' and understand the underlying content of my post. All the best.

P.S just for the record, I am also a finance professional, alumni of a Fed Uni in Nigeria, MBA schooled (Ivy league) and a CFA charter holder.

The 48 Laws of Power is a 1998 book by Robert Greene. Greene takes elements from writers such as Niccolò Machiavelli and Sun Tzu to come up with his 48 laws of power.

The Laws

Never outshine the master ...

Never put too much trust in friends; learn how to use enemies.

Conceal your intentions.

Always say less than necessary.

So much depends on reputation. Guard it with your life.

Court attention at all costs.

Get others to do the work for you, but always take the credit.

Make other people come to you; use bait if necessary.

Win through your actions, never through argument.

Infection: avoid the unhappy and unlucky.

Learn to keep people dependent on you.

Use selective honesty and generosity to disarm your victim.

When asking for help, appeal to people's self-interests, never to their mercy or gratitude.

Pose as a friend, work as a spy.

Crush your enemy totally.

Use absence to increase respect and honor.

Keep others in suspended terror: cultivate an air of unpredictability.

Do not build fortresses to protect yourself. Isolation is dangerous.

Know who you're dealing with; do not offend the wrong person.

Do not commit to anyone.

Play a sucker to catch a sucker: play dumber than your mark.

Use the surrender tactic: transform weakness into power.

Concentrate your forces.

Play the perfect courtier.

Re-create yourself.

Keep your hands clean.

Play on people's need to believe to create a cultlike following.

Enter action with boldness.

Plan all the way to the end.

Make your accomplishments seem effortless.

Control the options: get others to play with the cards you deal.

Play to people's fantasies.

Discover each man's thumbscrew.

Be royal in your fashion: act like a king to be treated like one.

Master the art of timing.

Disdain things you cannot have: Ignoring them is the best revenge.

Create compelling spectacles.

Think as you like but behave like others.

Stir up waters to catch fish.

Despise the free lunch.

Avoid stepping into a great man's shoes.

Strike the shepherd and the sheep will scatter.

Work on the hearts and minds of others.

Disarm and infuriate with the mirror effect.

Preach the need for change, but never reform too much at once.

Never appear perfect.

Do not go past the mark you aimed for; in victory, learn when to stop.

Assume formlessness.


Instead of arguing why don't we read in between the lines? As the samurai swordsman would say "you can never defeat a master swordsman in battle unless you master his fighting technique. GEJ is daft,he is not smart he is this and that yet he in power and will continue to be.

The comments on this thread till now indicate that a lot of our students and hitherto future leaders are far worse off than Mr President himself.

First and foremost it is wrong to compare UNILAG now known as MAUNI with the likes of Harvard and Yale. The former is a federal institution funded by the government whilst the latter is privately held. The former is in my own basking in the euphoria of their past glory whilst the latter is Ivy league. The former depends on government funding to carry out research and the last time I checked, not much has been done in that aspect in recent times whilst the latter has an endowment fund equal to the balance sheet size of some emerging economies hence they have the liberty and free will to carry out scholarly research.

The decision to rename UNILAG is not one done in isolation. The NASS must have deliberated on it before it was passed into a law for the executive to implement.

I am not going to discuss along the lines of whether this decision is morally justifiable or not as there is already a lot of contention on this matter but I have a very dim opinion of the response and feedback thus far. It clearly shows that what we need is not a name change but a complete overhaul of the entire educational system as it is obvious that the by products churned out daily fall below standard!

God bless Nigeria!

This is a pathetic scenario. It is quite painful and I empathize with your sister regarding this dilemma. All hope is not lost but she needs to be very objective because this is a life changing decision that she is about to embark on. At 38, the options for a 360 degree career change are very limited so if she is embarking on a decision to study for a degree course, she has to be sure that the intended course of study will be relevant to her in the long term. More so she has to consider her family which in my own opinion will play a critical role in this regard! All the best!

I have just read the article and there is no outright declaration that the jet in question has been acquired. "Jetting privately" could be construed to mean a lot of things. However, one fact still remains that the piece of machinery in question was not acquired. We need to verify information before we absorb and disseminate them. Sources close to the duo connote that what they have done is a lease agreement to have access to the private jet on call and for a fee. This simply means that the jet will be at their disposal whenever they require it for an undisclosed sum. Apparently, they got this deal from a rich arab sheik who has a fleet of private jets lying fallow in his hangar. This does not in any way mean that they are the owners!

This said, I would be very elated if they can be proud owners of a jet but w e need to get the facts right! Nigerians are so gullible! No wonder, a lot despite their exposure are always taken for a ride!

I will advise that you go for he MSc in Pet. Eng. By doing this, you will become a specialist in your field. Besides, there is a high demand for pet engineers in the O and G sector in Nigeria. The MBA at this point will be a total waste of time and money because you don't have the work experience now that would make it a worthy investment.

Additionally, I will recommend the NYSC in Nigeria once you are done with your undergrad. If you eventually graduate with a first then you should be able to put your foot in one of the oil coys in Nigeria but this will also be subject to your performance during their recruitment process which I gather is very competitive. Thus, you might consider preparing in advance for this.

You can also be on the look out for some of the major players like ExxonMobil, Shell,Total et al. As they periodically participate in recruitment fairs in the UK and US. This is perhaps the best safety net you can have in the near term. After relevant experience, you can then decide to take the MBA route strictly for networking purposes! All the best!

It is not strange to see people moving along the lines of who you intend to do career wise. If the goal in the long term is to work with a PE/VC firm that concentrates on investments in health care, then you need to have relevant experience not in finance but in health care services, R and D etc to have a grasp of the sector dynamics and for you to be a specialist in that area. You can continue with the CFA exams whilst working to gain relevant experience in health care. The MBA is a must and should be from a top B school in the US if you want to get your foot into the PE/VC industry. During the MBA be sure to enroll for courses in finance and the internship should be with a bulge bracket IB so you can have some hands on industry experience about M and A and the whole deal origination, structuring and execution process. Investors are likely to shift focus to health care and pharmaceuticals now especially with the bungled facebook IPO. Best of luck!

I always tell people that the problem with our great country is the mindset and mentality of her citizens! We all agree that lack of stable power supply is a one of the major problems hindering the growth of the economy. Imagine how many SMEs have closed shop and many others battling with running cost tied to power supply. Before we start throwing temper tantrums, I would suggest a cursory look at the transaction documents for the privatization of PHCN. The tarrif quotes herein is still amongst the cheapest in the world and is based on a worst case scenario analysis which implies that once the human and capital infrastructure is on ground prices will eventually fall in line with market forces. Besides, we'll all want stable power supply yet we don't want to pay for it. Of course, the PHCN workers will frown at this because it will no longer be business as usual for them and it has been stated that prepaid meters will be installed so we only get to pay for what we use. I was in Nigeria recently and was surprised when I saw a saw a friend leaving his outdoor lights on in broad daylight yet he will complain when he is slammed with a huge bill. In the US, I pay on average twice of what is proposed in the new tarriff, bearing in mind that I live alone and spend not more than 6-7 hours at home daily. God bless Nigeria!

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It is a scam! Diamond bank or any other bank that I know of will not ask you for pay for medicals. If you oblige to their request, you do so at your own risk.

The salary estimates provided by cityofsin for Mckinsey and Co is not far off. I am aware that they do structure their entire package according to country specifics and they are not a charity!

I have a friend who is an ex-employee in the US and was seconded to India for two years and who was not compensated by the going rates in the US but that obtainable in India.

This said, I was to add at this point that most discussions I have seen on this thread about career growth is always centered on pay alone. I think that this kind of mentality/mindset is off tangent. No doubt, "money" is a primary motivator, but what about the long term benefits?
More so, considering "how much you want to earn" above every other parameter tends to be-cloud our sense of logic and ability to make well balanced long term career decisions.

In the States, most entry level graduates wouldn't mind series of internships with companies that would be a CV booster even in unpaid capacity. Perhaps, it is time for us to consider a paradigm shift on this subject matter.

Too bad that we live in a society where we blame everybody apart from ourselves for our predicament. So if a couple decide out their own volition to have a dozen kids when they know quite well that they will not be able to cater for then in the near term, then the govt is to blame. I have also seen people argue along the lines of "children are gifts from God". Hence they have them in leaps and bounds and with reckless abandon, the bible connotes that anyone who cannot train up a child accordingly is akin to one who has sinned so why are we deceiving ourselves?

I was to add that in this age and era money and a decent education is not the only requirement needed to bring up a child. A child also needs adequate attention especially during the formative stage of life. It is bad enough that a lot married people have money issues and they aggravate this by having a house full of kids. I also think that it will be unfair to have kids when the capacity to cater for them is not available. What is even more pathetic is those that keep having kids under the auspices of "I am looking for a boy or all the children are girls and I need a boy to make the family complete"

We also need to create awareness on sex education and the various contraceptive methods available. I am of the opinion that a lot of the juvenile delinquents roaming the streets would not be there if people just make use of the most power tool God has blessed us with- Common Sense!

One question for all those who have received a text or invite for the Ascon recruitment. Did any of you at any point in time apply for any job openings by Ascon?

Sadly, the era stated herein is coming to an end. Unfortunately, the curricula taught in most Nigerian universities does not equip graduates to cope with the challenges in the real world. In the West, it is tradition for students to take one year off study to embark on some form of internship program. More so, students also engage in summer jobs and all of these add to the CV. Also, schools in the West assign you to career tutor who will help define your intended career path. I recall siting on an interview panel and a candidate with upper second class with summer work experience was favored instead of one with a first and no summer work experience.

Also, our graduates need to develop soft skills on their own. I don't mean to sound brash but some of our graduates don't have a clue what they want to do career wise and this very disheartening. Studying abroad no doubt has a lot of advantages but I am of the opinion that these will not be fully harnessed if it isn't done to form a strategic alignment in the long term.

In the words of my one of my friends "You can't be a lion in the city if you are not one in the village". God bless Nigeria.

I think it is misleading to assume that O and G pays the most. There are disimilarities in various sectors thus a balanced comparison will be quite hard to achieve. I have followed with keen interest discussions about this on another thread but refrained from active participation. I know architects that have been paid 150million for certain projects and project managers with JB that earn 30-40million P.A for a structured tenure. We don't get to hear about this everyday so the tendency is to believe otherwise. No doubt, O and G are top of the echelon in this aspect but the best paying? Well this a debate that will occur in a continuum.

Additionally, the remuneration for the PE sector quoted is just base salary alone. There is also the performance incentive which is what I would term an 'off balance sheet item' and is largely determined by the transaction capacity of the firm. The highest that has been paid out in this regard is three quarters of a billion naira (circa) for a LBO/MBO deal involving a major telco. This is of course a one off transaction. Hence, it is not strange to see PE analysts earning twice what their contemporaries earn in total package as performance incentive alone. Whilst IMs earn three or four times that amount as transaction incentive alone. We don't get to hear of this because most of these firms are closely knit privately held partnerships.

Finally, I want to opine that building a career around an endeavor that we have passion for is perhaps the best way to ensure financial security in the future. After all, stories are abound of O and G employees that have gone bankrupt despite the fat pay checks they receive. If you are in doubt ask Mark Z CEO of facebook and other tech billionaires and closer home Aliko Dangote, Tony Elumelu, Jim Ovia, Mike Adenuga, Hakeem B Osagie just to mention a few. All the best!

You are on point with the list of PE firms herein. Others include ARM Capital partners, Aterios Capital partners, CBO capital partners, SCBPE-the private equity subsidiary of StanChart bank et al. African Capital Alliance is the oldest but not necessarily the best. This is just my own opinion. Actis and ARM are the major players for now as they have recently structured some ground breaking transactions in infrastructure, retail and hospitality and in the TMT (technology,media and telecomms) sector. This said, ACA is also pulling a lot of weight with reference to their seminal deals in FIG and historical transactions originated by them.


You are also on point with the wage structure and the fact that the sector is closely knit. However, the big bucks is earned by the investment managers who are responsible for overseeing the entire deal process from origination to divestiture. The base salary for IMs is outlined as follows: 120K GBP, 200K USD whilst those in nigeria who are quite a handful, earn around 25-30 million P.A in addition to other company perks.

The planned privatization of the energy sector particularly PHCN is expected to increase the transaction capacity with the PE space in Nigeria. Already some firms are anticipating the funding opportunities in the near term. There are also prospects in large scale and mechanized farming. I cannot say more at this point.

The UK version of the song is not yet out but in all sincerity, he is number one on the pre order chart. Kudos to him. This however is not an indication that the song (not an album) will be a huge success. The pre order system is like a survey system so to speak that is used to ascertain the acceptability of a new product of service. In this regard, people are asked to make a commitment to purchase a certain product or service in advance to quantify its level of acceptability. There is a financial commitment with a guaranteed refund policy.

The truth is that entertainers abroad don't make money from album sales any more unless you are Adele or Lady gaga. The real money comes from shows and concerts. We Nigerians have just fallen for the oldest marketing trick in the book. Dbanj and his lot have succeeded in creating a lot of buzz and media frenzy around him and everybody(both those loyal to don jazzy, his own die hard fans and even people that don't know him) are eager to listen to the UK version of oliver twist come 14-05-2012.

In my own opinion, I think that it is rather too early to judge Dbanj's solo career based on one song which was originally written and produced by Don jazzy just as it will be unfair to judge Don jazzy based on the Solar Plexus album alone. Besides, Dbanj himself has confirmed in prior interviews that the remix was produced by Don jazzy himself but it will be released under his new record label which by the way is not GOOD music!.

Let's see what Dbanj's new album will sound like and whether he will be accepted by the 'international audience' he is trying to appeal to, once all this media frenzy has died down. Success in the entertainment industry is a marathon and not a 100 meters race. You can ask veterans like MJ, Madonna, KWAM 1, KSA etc and take a cue from the likes of Majek Fashek, Felix Liberty,Vanilla Ice,MC Hammer just to mention a few. I wish both parties the best of luck!

A lot of things have changed in Nigeria and I agree with most of the things Ajanlekoko has posted so far. You will be amazed that the foreign degrees and work experience we are brandishing no longer carry any weight. Just for the record, I am also based abroad and work in financial services(private equity) and truth be told, Nigerians are really pulling their weight in Nigeria.


The problem with a lot of us based abroad is that we have been brainwashed into believing that nothing good will ever come out of Nigeria. I ascribed to this school of thought till I started visiting Nigeria about two years ago and you will be amazed at the kind of deals originated by Nigerians at home. I recently had a discussion with a friend that I referred for PE job based in Nigeria and I was surprised when he showed a list of transactions they have structured just in West Africa alone. More so, a lot of these foreign based firms( GE JP Morgan, GSachs Rencap etc) are opening country offices in Nigeria. I have also worked with home based Nigerians without any foreign exposure( education or work ) and they have performed well above expectations. More so, I have also worked with foreign based expats. that have not lived up to expectations.

Of course, the trend for most coys now is to recruit abroad because the education system in Nigeria is below average and besides most firms now want to play in the global arena so it will only make sense to recruit internationally, just as GE recruits locally for their operations in Nigeria.

The debate about the work place is relative and depends on the people you work with. Personally, I have worked with crappy associates on both side of the divide. The ideal is to adjust just as a lot of us did when we first relocated abroad. In fact, in Nigeria the approach towards business also varies along ethnic lines. My approach towards transactions when I am dealing with Indians differs from the way I would approach it when dealing with my chinese or japanese clients. The point is that, the language of business is no longer universal as we are made to believe but rather a complex intrigue of twists and turns!


One thing I will not support is the condescending mindset that Nigerians in diaspora have towards their counterparts back home. This attitude is one of the major reasons why most returnees find it difficult to adjust when they return. No doubt,Nigeria has a long way to go when compared to the 'West' but hey, there are improvements. That said, I still believe that there is room for growth as we are not yet out of the woods yet.

The irony of this whole 'I am foreign schooled, hence I am better than you' debacle is that a lot of us championing this cause, were brought up in Nigeria, had our elementary education and maybe first degrees here and only traveled abroad for post graduate studies. God bless Nigeria!

@ pcicero, sorry to burst your bubble. You have raised a vital question about the recruitment process so may I ask you to please explain what you think constitutes an ideal recruitment procedure with reference to the subject matter at hand. Is the hiring of people that have the technical competence, breadth and depth of knowledge about capital markets, backed up with a proven precedence and relevant experience or those employed simply because their names are included in a 'list' sent from Abuja?

We need to be very objective in our analysis. What you have failed to understand is that if she is left to work without any form of interference, some of our so called senators will be indicted in the whole fiasco.


This is the same problem that AMCON is battling with presently. They cannot chase after the non performing loans acquired from banks because majority of these loans were taken by coys owned by politicians either directly or by way of proxy. This is one of the reasons why they usually frown at any attempt to change the status quo.

I quite agree that she sounded a little bit brash but I also think that her composure is still far better of that madam Ndi. I just pray that we won't compromise the potentials of our future generation with the way things are going.

God bless Nigeria!

The decision to relocate is a personal choice and I will suggest that you plan some trips to Nigeria to see things for yourself. No doubt a lot of opinions put forward will be based on the perception of the people herein and this is usually subjective, relative and based on the orientation of the people making these suggestions.

I am an investment manager with a PE firm based in NYC and also intend to move back very soon. I turned down a mouth watering offer to manage PE fund for an asset mgt coy in Nigeria because I foolishly allowed myself to be brainwashed by some folks into believing that it is all gloom and doom in Nigeria. This was two years ago. The chap that took the offer has just finished his own duplex in an enclosed estate adjacent VGC and doing pretty ok for himself and family. In fact, the wife recently resigned from her day time job and manages a creche so she can have time for their kids. So if you have cash you may consider owing a house instead of renting one if Lekki/ VI axis is where you hope to settle.

No doubt, there are a lot if issues that you will have to deal with like the problem of stickiness and heat in Lagos which can be suffocating if one is not careful but believe me if you have well paid job or manage a thriving business, you will enjoy yourself to the fullest.

I make trips to Nigeria every now and then and especially when I am on annual holiday as I am currently and I must confess that it is not all gloom and doom. But hey, this is just my own subjective opinion so please make sure you plan well in advance before taking the leap. All the best!

We are in for a long haul as far as the future of this country is concerned. All we do is sit back and watch as the future of our children born and yet unborn is mortgaged on a platter by our corrupt leaders.

I am also amazed at the kind of sentimental analysis provided herein by some people. I am not an overtly religious person but only God can save us.

Please tell me this how is Otteh corrupt when she was brought in 2010 after the market had already collapsed? Of course a lot of people working under her don't like her because she is trying to bring sanity to the capital market.

I have worked in the Nigerian capital market and I can tell you that madam Ndi took the whole of Nigeria for a ride and still has people within SEC loyal to her because as one poster has posited her era was that of 'chop I chop' where a few people in her caucus fleeced innocent Nigerians of their
hard earned cash by manipulating share prices and floating bogus coys on the NSE.
Please for those asking for Otteh's head which coy has she approved to be floated on the NSE since she become DG? Also, her efforts to bring sanity to the market is truncated daily as she is constantly bombarded with one list or the other by our NASS members seeking to place their croonies in SEC without taking cognizance of their competencies. This is the same thing that has happened to our police force where cadets are recruited not based on competence but rather through political connection and at the end of the day we are saddled with a moribound police force comprising of people not fit for the responsibility bestowed on them. Of course Otteh will have perceived enemies amongst her subordinates as she trying to bring change.

A friend that was also recruited from abroad to work with SEC resigned in annoyance and returned to the USA when her colleagues went diabolical and even to the extent of tying a padlock on a live tortoise and placing in her office!

May God open our eyes of understanding!

Excellent feedback from T22 and others. May I also add that there are a lot of grammatical lapses and weak sentences in your posts, that should not be tolerated from a potential graduate especially one along the lines of what you are studying(education). You might need to work on this because it raises a RED FLAG and could be a potential set back in the near term. All the best!

Madam Ndi ruined the stock market. Are we quick to forget that she was part of the executive management of transcorp? Organised fund raising for Obama during his first election and wined and dined with a lot of bank executives some of which have been removed today. All of which is against the statues of corporate governance.

The rolex and boat saga has been under investigation since 2009, so also a lot of the allegations levelled against her were committed around 2006-2009 and Otteh was head hunted from abroad and appointed to head SEC in 2010! So please tell me how she is involved in the allegation charges! No wonder we keep going round in circles as a country!

@ olu16, too bad you are graduating with a 2.2. The additional qualification is still a bit of a gamble if you don't have cognate experience to compliment your qualifications. This is because the job market is not what it use to be. There is a glut and supply far outweighs demand even in the oil and gas industry. Also, why petroleum economics? I presume you are an engineering student so why the 360 degree change?


I want to opine that as far as life changing career decisions are concerned, we all need to have a long term perspective in mind! I can't just decide to enroll for a course just because I like the name of the course or the school that offers it but rather see how such would be a strategic fit in the long term.


More so there is a huge capital investment involved so you need to be very sure that you are on the right track whilst analyzing all plausible outcomes from this intended endeavor. All the best!

Too bad. The truth is if you didn't sign any form of written agreement with them giving you exclusive right to the patent for your idea or program then I am afraid that you have just worked in vain.

Let me ask you some questions because there is some ambiguity in your post. You have said that you fell out or rather the deal went south because of the amount offered for the project. Did you intend to sell the idea to them as a bundle or what?

I don't think that starting a litigation will make much impact if there is no contractual agreement in place signed by both parties. All the best!

Just for the record, mohits signed a 'distribution deal' filled with a lot of 'caveats' with kanye for his music label to help launch dbanj into the US market and kanye has not made any financial commitment to dbanj at all.

We Nigerians are wishful thinkers and misconstrue a lot. No wonder there is a proliferation of churches all over the country. Let's ask ourselves some vital questions, if dbanj is signed to good music as an artiste why is he then signed to mercury music uk? Why not pack his bags and fly over to NYC and release his album in the states? Why is he funding the release of his uk album himself without any backing from kanye or even his new record label? The deal signed with good music is similar to that signed by cash money with universal music. Lil wayne is signed to cash money yet has a distribution deal with universal, 50 cent to shady records and a deal with interscope to distribute and sell his music, slim shady to dr dre's label and a distribution deal with interscope too. Lady gaga to akon's konvict music and with a distribution deal with sony/universal. Even our very own wizkid and psquare just signed similar deals with akon's konvict music so as to use that platform to promote their music abroad which implies that they would be launching an 'international version' of the albums they wish to push into the US market.

This said I will opine that the album is not at par with other past albums. However, this new release is free and for promotional purposes only so I in my own view would not expect it to be a masterpiece!

Best of luck to both parties!

We need to get out facts right before hiding behind all forms of economic analysis included herein. Talk is very cheap so I guess anyone and everyone can analyze and put forward all sorts of proposals. For the record, these malls are not set up by the govt, they are privately owned. They also don't depend on electricity from the national grid as most have posited here. A lot are powered and survive on generating sets. It is even more riskier for them to rely on PHCN as this can have adverse effect on their operations. No doubt there the need to have infrastructure on ground and a lot of these coys are tryin their best. The road that leads to the palms from ligali ayorinde was constructed and currently maintained by the promoters of the mall. Also, Ikeja city mall is constructing several bus stops and wants to expand the road along their axis. These gestures are in my opinion a drop of water the ocean but albeit good efforts. The govt wants to disband our moribund PHCN and privatize it so as to increase efficiency. Hopefully, this will be done by the end of this year. We need to do away with this mentality of condemnation. I come to Nigeria a lot for both business and pleasure and I must say that no amount of educational qualification or exposure will bring about the change we all crave for unless we change our mind set. We talk of electricity? Does it grow on trees? Do people pay their bills regularly? The same Nigeria our blessed country where people will consume eletricity illegally by tapping directly from the electric pole,where people deface walls and buildings with all sorts of posters, where people litter the road with all sorts of waste and urinate any where they deem fit. Yet we are quick to condemn efforts by hard working nigerians who want to contribute their own quota no matter how small. Just for the record, not every body is a politician, there are young hard working and ambitious people who make legitimate money and are in my opinion entitled to enjoy their life as they deem fit without recourse to anybody. God bless Nigeria!

@ cityofsin, you are quite correct, HFs will not be introduced any time soon due to the aforementioned factors that you have already cited. It pains my heart but this is the hard and bitter truth because there is dearth of technology, human capital and issues related to corporate governance. We can only hope that things will change for the better.

@tanimola22 , I am doing great, I have been doing a lot of travelling recently and in officiating capacity hence my unexplained silence. Hope you are good?

You are quite correct that there is a lot of debate on whether Walmart has contributed to the demise of small businesses in America or not. I will say that my take on this really depends on our individual perspectives which is quite relative. One question however comes to mind when did walmart the pioneers of retail shopping malls commence business? Certainly not now but decades ago and businesses have been going "boom and bust" before then. So for me I think it is typical that people will always look for someone or somebody to blame for their failures because sadly this is the kind of society that we live in now-where nobody wants to take responsibility but rather 'pass the bulk'.


Let me tell you a story, I have a family friend that runs an african shop in the US who unfortunately went bankrupt and typically blamed the big retailers for all her misfortunes. She spent two years doing this until someone suggested that she run her business online. She took to this idea and created a database of clients whom she makes deliveries to on demand without the risk of too much inventory which ties down her cash. But hey this is just a one of case!


I doubt if a monopoly can be operated in the malls built in Nigeria because it is not owned by a single entity as in the case of walmart,tesco etc with their branded goods but rather a collection of people as mentioned in my earlier post. For example shoprite, game et don't own the palms at lekki, they simply occupy rental space which in theory can't be transfered to them till the BOT process is complete. More so, it is also ensured that there are two or more shops selling similar goods so as to discourage price collusion that is why you have shoprite and game selling the same stuff at relatively affordable prices and mr biggs kfc et al too.

Of course there will be some high end stuff for those that can afford it, but hey nobody has forced you to enter any of the shops to purchase them. You are obliged to go down the route of a less expensive alternative if need be. After all, there are designated china towns even in the developed 'West' where knock offs can be bought!