AshiwajuFoward:


My brother, believe me when I tell you that quickest route to joining the billionaires club today as an entrepreneur is via tech. The old brick-and-mortar Oil & Gas, Manufacturing/Industry, Banking routes are still valid routes of course, but have more/higher barriers of entry. Whereas in tech, all you need is an innovative/disruptive idea or solution to a common problem, get it off the ground either by bootstrapping or seeking funds, gain some traction to validate its viability and attract more funding, and you are on your way. From the data I showed earlier, most of all those billions generated in India were via Software exports and not hardware. What's a software? They're lines of code written in a machine/computer readable language to perform a set of functions. In other words, your knowledge of that language alone can enable you capture more value than an industrial machinery would to a struggling SME.

Like bro Omohayek mentioned earlier, there's a lot of private capital out there (running into billions of dollars), in the hands of individuals and venture capitalists who are looking for ideas/individuals to invest in. But we need an enabling environment to enable us take advantage of these opportunities.

The Asian Tigers: Singapore, Hong Kong, Taiwan and South Korea which are traditioinally known for their financial centers and global manufacturing in automobiles and electronic components, are also placing high premium on information technology.

I agree that IT would be very crucial in the economic development of the future Yoruba country. The Smart City and The Lagos Coding Centers initiatives is an indication that Lagos State government is thinking in that direction already. I hope all other States in the West will soon key into this.

FFKfuckedBIANCA:
The Asian Tigers; Singapore, Hong Kong, Taiwan and South Korea which are traditioinally known for their financial centers and global manufacturing in automobiles and electronic components, are also placing high premium on information technology.

I agree that IT would be very crucial in the economic development of the future Yoruba country. The Smart City and The Lagos Coding Centers initiatives is an indication that Lagos State government is thinking in that direction already. I hope all other States in the West will soon key into this.

Definitely bro. Every SW/Yoruba state must key into it by replicating what Lagos is doing. Though it's already happening in other parts of the SW, just needs to be scaled up. We are beginning to see tech hubs and incubators springing up in other cities/states outside Lag. E.g, iBridgeHub, Wennovation, and EccoHub all at Ibadan. Some of our lads are also getting accepted into world-renowned tech accelerators as well.

Lanre Oyedokun's Big Data Startup (Delivery Science), Iyinoluwa Aboyadeji's Flutterwave, Adetunji Adegbesan's Gidi Mobile, and Shola Akinlade's Paystack were all accepted into Google's LaunchPad Accelerator at the same time -- all 4 of them are the only Nigerian tech startups accepted into the program.

And they've all attracted more than a million dollars each in funding.

There's also ACI, at Osun, a school where all they do is teach Robotics to Kids.

http://venturesafrica.com/at-this-nigerian-school-all-they-do-is-build-robots/

FFKfuckedBIANCA:
The Asian Tigers; Singapore, Hong Kong, Taiwan and South Korea which are traditioinally known for their financial centers and global manufacturing in automobiles and electronic components, are also placing high premium on information technology.

I agree that IT would be very crucial in the economic development of the future Yoruba country. The Smart City and The Lagos Coding Centers initiatives is an indication that Lagos State government is thinking in that direction already. I hope all other States in the West will soon key into this.

Happily,the Omoluabis have the greatest participation in ICT in Nigeria even if it is still not enough.In the very nearest future,,the traditional ways of doing things would be totally changed and if technology is greatly harnessed in the Yoruba nation,it will greatly enhance our GDP.Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.

I read somewhere that new “microwork” platforms by Amazon,odesk,Samasource etc help to divide tasks into small units that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, odesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.This can greatly help in the Yoruba nation workforce transformation.

Efewestern:


Believe me the itsekiris don't see themselves as Yoruba.. yes they speak similar language with you, bear similar names with you.. but hey that doesn't make them Yoruba. Itsekiri is itsekiri, Yoruba is Yoruba. and I think itsekiri are more connected with ondo (Ilaje) than those from Lagos.

Wow I love the comments here, glad you guys love and respect minorities, Good to know.

cc: onuwaje
frathermathy
Sanchez01
wirinet

Ilajes are Yoruba though. Don't get it twisted and be guided.

kozmicity:


Isn't it reasonable to take the abortion pill before you think of going to a doctor for surgery to remove the child??

Abortion is regionalism while surgery is secession.Take the next best opinion before you take the final decision
(jhus my opinion oo)

You cant restructure Nigeria when the core north opposes it. You need 3/4 of the house to vote in support. Out of 36 states, south has just 17 while north has 19. You should also know that not all reps from the south will be in support. To an average hausa-fulani, there is no difference between restructuring and disintegration...since there will be no more access to oil again. The reason why the northerners shout "one Nigeria" is only because of your crude oil and to have access to your sea. This is why they dominate these resources right under your nose. They dont like Nigeria like Yorubas do.
Disintegration is better and easier because if the whole south declare their country, who will the Hausa-Fulani fight? They cant fight the three nations at once can they? Even the middle belt wont fight with them.

Errm... I know this is a thorny topic,but am curious.

What exactly is the function of the Aare Musulumi of Yorubaland?
Why isn't he the one to declare when fasting begins to the Muslims among us?

No malice intended.

Origamist:
Errm... I know this is a thorny topic,but am curious.

What exactly is the function of the Aare Musulumi of Yorubaland?
Why isn't he the one to declare when fasting begins to the Muslims among us?

No malice intended.

You're right that its a thorny issue and one we'll have to address in the fullness of time.

The sultan is the spiritual head of all Muslims in Nigeria(Don't know when the authority was granted) so they all are obligated to hear him. The aare musulumi of Yoruba land is a ceremonial title with no real power and was further degraded due to Arisekola's romance with Abacha. I doubt that all Yoruba Muslims even feel beholden to the title holder. Islam isn't like Christianity where a parish pastor can get tired of the overbearing influence of his G.O, start his own ministry citing the call of God. All Muslims are bound to Saudi Arabia and whoever the Saudi crown recognises.

While Christians can separate their christian life from secular life(this hypocrisy, IMHO, made me become lethargic to Christianity) , for the pious Muslim, Islam is his entire way of life and it dictates the secular, political, education etc.

My answer to the issues with both religions made me become irreligious. I'd rather start practicing isese than continue to support the continued despoiling of our culture and identity by these 2 invasive religions from the middle East.

Apologies to all omoluabis who feel offended or slighted by my post.

Obaluf0n:


I don't even care if Owa Obokun himself impregnated Ologun kutere, Eleko is no different from Emir of Ilorin whose maternal progenitor was from Oyo, I think Iseyin. Eko's throne has been hijacked by Bini, the same way fura drinkers hijacked ilorin. We cannot keep trying to romance these thrones, we need to cut them down to size abd dwindle their influece -- you see what Bini have done to Yoruba influence on their throne? We need start doing the same.

It is time Olotto, the representative of Olofin Ogunfunminire is raised to his actual status of ownership of Lagos and all Awori land.

Eleko has no royal bearings in history, the office is an appendage of Oba Bini and should not be lord over kings with ancestral crowns predating the white clothe tying over the head baale

Honestly, they are all very funny. If not politics, shouldn't OSOLU -IRÈWÈ be graded ahead of Eleko that doesn't control more beyond part of Lagos Island. Anyway, washing one's dirty linen in public isn't a good one. It is high time Yorubas ignore the ungrateful people that kept distorting history because of economic and political reason.

Omofunaab2:



But what will you suggest to allay the fears and suspicion of many?


Do you think having strong and stringent immigration laws will solve this?

There is no doubt that some of these people are stiff necked if it is about through any means to make money. However, measure that can be taken to address such issues to allay the fear of some of our people are :
Accurate data of all citizens as well as foreigners residents in Odu'a nation.
Structured policing that will start from community setting –federal level that will be corrupt free and without infringing on citizens right and also obeying the United Nations blue print on Human Rights.
Mandatory military six months training for all males citizens of Odu'a nation once, such person is eighteen years old because these will build more confidence on all individual either as a serving military personnel or not .
The border of Odu'a nation must be manned to avoid illegal entry of all possible terrorists .
Loyalty must first be to one nation before anything else.


I want to see the day one Odu'a citizen will be equal to five United States of American in every facet of our lives.

I think ColonelDrake needs to learn a bit of civility. Highly disappointing.....


Let us color this thread with religious sentiments. We are Yoruba Before any other tag......

ColonelDrake:
https://www.nairaland.com/3898318/decreeing-boycott-arabic-equal-boko

Now one mofo will cone here to say I am harsh on yoruba muslims. Of all the myriads of problems confronting Nigeria and the sporadic increase in radicalization of youths by ISIS and some bunch of islamic fanatics and the next action of this Islamic APshit govertment was to render crk insignificant and inseted arabic studies into the curriculum. A subtle move to radicalise our unborn children
and make them easy recruits for isis and tbeir muslim aologists.

Here we have a typical yoruba muslim afonjanistic slave defending this impunity and licking the ass of his abokiii slave masters up north. The supposedly educated Yoruba muslims always the willing tools in the hands of the educafionally disadvantaged north. What a pity. Buhari spoke in Hausa. They say it doesnt matter.

I carry yansh for you peoole. Ooduaa reoublic will not see the light of the day with yoruba muslim like this. They will betray us to one nigeria slogan - the favorite slogan of their slave masters. Mark my words.

Mordern day afonja, carry on

I am shocked at your sporadic abuses because you seem to forget, the same Yoruba Muslims will always stand for the right of all Yoruba irrespective of religion affinity and it is vice versa with the Christians . If you are a deep Yoruba, you need be wary of what you say when you deal with people in person or type online because betrayals has no family. A betrayal will always betray irrespective of religion affinity. Are you now claiming Christians are better off than Muslims? Suffice to say that, Yoruba proverb had sealed in the past as it regard betrayal. Have you no knowledge of it? Won ni ki Obinrin bi omo fuń ni, iyèn o ni ko mâ da èni. I used this particular proverb because ,woman remain the closest to a man, irrespective of how militarily endowed or mightily blessed spiritually. He that will betray ,will always betray. The funniest part is that the present Vice-President of the federal Republic of Nigeria is a Christian, in fact, a renowned Provincial pastor of Redeemed Christian of God , and yet the state of health of the INCUMBENT PRESIDENT IS NOT MADE PUBLIC, why? isn't that a betrayal of trust placed on his shoulder as the vice president to inform the eager citizens who voted because of the vice President's church and his Christian background? . Do you know how Europeans and the rest of the world, mock Nigerians? So, my dear bro, if a Muslim guy had offended you in the past, it doesn't mean a Christian chap hasn't done the same to other Muslims. We, all have a our own story to tell. In a nutshell, betrayal is everywhere but when you ride with a like mind, you conquer beyond your imagination. The like mind are the ones that will salvage Yoruba land from the grip of the wolves and they are the ones that will make the difference. So be a part to the SOLUTION and when we get to that part of the bridge, we will know how to cross it. During the day of Ilorin overzealousness to make Yoruba land, an absolute Islamic nation, Some of the Yoruba warriors were Muslims. You can verify through OSHOGBO WAR IN 1840 between Yoruba warriors combined against Ilorin fanatics between 1824—1840.



Cheers bro

shukuokukobambi:

You're right that its a thorny issue and one we'll have to address in the fullness of time.
The sultan is the spiritual head of all Muslims in Nigeria(Don't know when the authority was granted) so they all are obligated to hear him. The aare musulumi of Yoruba land is a ceremonial title with no real power and was further degraded due to Arisekola's romance with Abacha. I doubt that all Yoruba Muslims even feel beholden to the title holder. Islam isn't like Christianity where a parish pastor can get tired of the overbearing influence of his G.O, start his own ministry citing the call of God. All Muslims are bound to Saudi Arabia and whoever the Saudi crown recognises.
While Christians can separate their christian life from secular life(this hypocrisy, IMHO, made me become lethargic to Christianity) , for the pious Muslim, Islam is his entire way of life and it dictates the secular, political, education etc.
My answer to the issues with both religions made me become irreligious. I'd rather start practicing isese than continue to support the continued despoiling of our culture snd identity by these 2 invasive religions from the middle East.
Apologies to all omoluabis who feel offended or slighted by my post.

Thanks.

ColonelDrake:
https://www.nairaland.com/3898318/decreeing-boycott-arabic-equal-boko

Now one mofo will cone here to say I am harsh on yoruba muslims. Of all the myriads of problems confronting Nigeria and the sporadic increase in radicalization of youths by ISIS and some bunch of islamic fanatics and the next action of this Islamic APshit govertment was to render crk insignificant and inseted arabic studies into the curriculum. A subtle move to radicalise our unborn children
and make them easy recruits for isis and tbeir muslim aologists.

Here we have a typical yoruba muslim afonjanistic slave defending this impunity and licking the ass of his abokiii slave masters up north. The supposedly educated Yoruba muslims always the willing tools in the hands of the educafionally disadvantaged north. What a pity. Buhari spoke in Hausa. They say it doesnt matter.

I carry yansh for you peoole. Ooduaa reoublic will not see the light of the day with yoruba muslim like this. They will betray us to one nigeria slogan - the favorite slogan of their slave masters. Mark my words.

Mordern day afonja, carry on

Egbon,
Don't go down in history as the one who turned this beautiful yoruba thread that seeks to discuss our future in the event there's a break up into a Muslim vs Christian thread.

Origamist:
Errm... I know this is a thorny topic,but am curious.

What exactly is the function of the Aare Musulumi of Yorubaland?
Why isn't he the one to declare when fasting begins to the Muslims among us?

No malice intended.

Before it was different, I have forgotten the details that lead to the sultan being declared the Supreme leader of Muslims in Nigeria.. But i remember late alhaji lateef adegbite former secretary general of Nigeria Supreme Council for Islamic Affairs (NSCIA),played a huge role in that

............

shukuokukobambi:


You're right that its a thorny issue and one we'll have to address in the fullness of time.

The sultan is the spiritual head of all Muslims in Nigeria(Don't know when the authority was granted) so they all are obligated to hear him. The aare musulumi of Yoruba land is a ceremonial title with no real power and was further degraded due to Arisekola's romance with Abacha. I doubt that all Yoruba Muslims even feel beholden to the title holder. Islam isn't like Christianity where a parish pastor can get tired of the overbearing influence of his G.O, start his own ministry citing the call of God. All Muslims are bound to Saudi Arabia and whoever the Saudi crown recognises.

While Christians can separate their christian life from secular life(this hypocrisy, IMHO, made me become lethargic to Christianity) , for the pious Muslim, Islam is his entire way of life and it dictates the secular, political, education etc.

My answer to the issues with both religions made me become irreligious. I'd rather start practicing isese than continue to support the continued despoiling of our culture snd identity by these 2 invasive religions from the middle East.

Apologies to all omoluabis who feel offended or slighted by my post.

You know nothing about islam. The "saudi crown" is just a family, the saudi family to be exact, they had no power until the british took the arabian peninsular away from turkish controle and installed a puppet ruler as a "king" in the peninsular. The family name of that puppet ruler is saud. Hence the name saudi arabia. I think you are confusing the saudi family with the islamic prophet mohamed.
Now if you want to know why the sultan of sokoto considers himself the "spiritual leader" of all muslims in nigeria then here is my answer:
He already was seen as the spiritual head of islam in the north shortly before colonization, indeed he conquered kano with the pretext that kano wasn't practicing islam the right way. As for why southern muslims consider him their spiritual guide, I am not even sure that southern muslims do consider him their spiritual guide.

Omofunaab2:



Before it was different, I have forgotten the details that lead to the sultan being declared the Supreme leader of Muslims in Nigeria.. But i remember late alhaji lateef adegbite former secretary general of Nigeria Supreme Council for Islamic Affairs (NSCIA),played a huge role in that

And who exactly would have the authority to make such a declaration ? (to appoint someone as a the "spiritual guide" of a set of people).
All I see is colonisation through religion, with all due respect to the sultan of sokoto, he is not the leader of southern muslims except the yoruba northern muslims whose kingdoms were conquered fair and square by fula.

To me the Sultan of Sokoto (who is a king in the north) declaring himself "guide of all muslims in nigeria" is not much better than the Ooni of Ife waking up one morning to call himself "his emperial majesty" or yoruba chiefs suddenly calling themselves "Oba". Back in the days the only way to gain such titles was through the battle field. Nowadays, all you need is a microphone and good public relations agents to make your claim look real eventhough it is not.

............

.........

I'd like to steer the discussion back in a more constructive direction, by raising a few issues that I think are essential if economic growth is to accelerate beyond the current sluggish Nigerian pace. I'll begin by discussing the topic of monetary policy, the sort of thing that never seems to come up in Nigeria's low-IQ political discussions.

Whatever we choose to call the currency, it is going to be essential, particularly in the early years, that it establish itself as everything the Naira has proven not to be: stable, with low inflation of less than 5% per annum on average, and freely convertible without any import bans, licenses, exchange limits, special rates, or any other such distortions. Ideally, it would become the new Deutschmark of West Africa, the currency of choice to turn to when governments in neighboring countries are losing the trust of their citizens.

Why is this issue so important? Because the stability and convertibility of a currency have a huge influence in determining both the domestic savings rate and the rate of foreign direct investment (FDI). Apart from the infrastructural issues we all know about, one of the biggest constraints on Nigerian businesses and farmers is access to capital, whether in the form of equity investment or credit, and the only long term solution to this problem is to both raise the domestic savings rate, and encourage much higher rates of FDI. The problem with highly inflationary and volatile currencies is that they penalize savers, both domestic and foreign: why put your money in bonds, or lend money at any fixed rate, if a sudden bout of inflation will cut the value of your lending in half? If you're a domestic saver, under such circumstances you are better off either converting your money into dollars/pounds/yen and sending it abroad (capital flight), or staying away from productive investments in companies and agricultural enterprises, and sticking to fixed assets that are inflation-proof (usually housing). If you've ever wondered why Nigerian thieves don't bother reinvesting at home, this is one of the main reasons why

So, it should be clear now that inflation is bad, very very bad, but what exactly can we do to fight it? The first tool for the job would to establish an independent central bank with a clear mandate to hit a certain inflation target, and reasonably long terms for the bank governor. As the credibility of governors is extremely important in setting inflation expectations, another step worth taking would be to look for the initial appointees from abroad, rather than treating the role as yet another opportunity for each city, town and LGA to put "our son" or "our daughter" in a "juicy" role. This suggestion is not as radical as it sounds: the head of the Bank of England is from Canada, while the previous chief of the Bank of Israel was an American. Showing a willingness to seek out an expert from abroad, a person detached enough from domestic politics to be willing to take unpopular policy decisions, will only bolster the credibility of the new nation.

omohayek:
the head of the Bank of England is from Canada, while the previous chief of the Bank of Israel was an American. Showing a willingness to seek out an expert from abroad, a person detached enough from domestic politics to be willing to take unpopular policy decisions, will only bolster the credibility of the new nation.

First of all the queen of canada and the queen of england are the same person, that might be the reason why it is easy for the brits to appoint canadians at such positions. Second of all israel is the unofficial capital of america, that might be the reason why appointing an american in such a position in israel makes sense.

Ebgon wa Akinphysicist, where you at? The thread has been re-opened

A separate Yoruba country will do better than Nigeria

omohayek:
I'd like to steer the discussion back in a more constructive direction, by raising a few issues that I think are essential if economic growth is to accelerate beyond the current sluggish Nigerian pace. I'll begin by discussing the topic of monetary policy, the sort of thing that never seems to come up in Nigeria's low-IQ political discussions.

Whatever we choose to call the currency, it is going to be essential, particularly in the early years, that it establish itself as everything the Naira has proven not to be: stable, with low inflation of less than 5% per annum on average, and freely convertible without any import bans, licenses, exchange limits, special rates, or any other such distortions. Ideally, it would become the new Deutschmark of West Africa, the currency of choice to turn to when governments in neighboring countries are losing the trust of their citizens.

Why is this issue so important? Because the stability and convertibility of a currency have a huge influence in determining both the domestic savings rate and the rate of foreign direct investment (FDI). Apart from the infrastructural issues we all know about, one of the biggest constraints on Nigerian businesses and farmers is access to capital, whether in the form of equity investment or credit, and the only long term solution to this problem is to both raise the domestic savings rate, and encourage much higher rates of FDI. The problem with highly inflationary and volatile currencies is that they penalize savers, both domestic and foreign: why put your money in bonds, or lend money at any fixed rate, if a sudden bout of inflation will cut the value of your lending in half? If you're a domestic saver, under such circumstances you are better off either converting your money into dollars/pounds/yen and sending it abroad (capital flight), or staying away from productive investments in companies and agricultural enterprises, and sticking to fixed assets that are inflation-proof (usually housing). If you've ever wondered why Nigerian thieves don't bother reinvesting at home, this is one of the main reasons why

So, it should be clear now that inflation is bad, very very bad, but what exactly can we do to fight it? The first tool for the job would to establish an independent central bank with a clear mandate to hit a certain inflation target, and reasonably long terms for the bank governor. As the credibility of governors is extremely important in setting inflation expectations, another step worth taking would be to look for the initial appointees from abroad, rather than treating the role as yet another opportunity for each city, town and LGA to put "our son" or "our daughter" in a "juicy" role. This suggestion is not as radical as it sounds: the head of the Bank of England is from Canada, while the previous chief of the Bank of Israel was an American. Showing a willingness to seek out an expert from abroad, a person detached enough from domestic politics to be willing to take unpopular policy decisions, will only bolster the credibility of the new nation.

Is the exchange rate and stability of a currency not largely dependent on the political and economic health of the mother country? If that is the case, then it'll take a few years of constant and verifiable growth for the new country to get stable, grow in real terms, then have a currency that'll command all those positives you listed. Of course I'm very optimistic about the prospects of a Yoruba only or major country so I'm not sounding any alarm.

Just trying to bring all what you and others have said prior about getting focus to the fore. We'll all need to work hard.

shukuokukobambi:


Is the exchange rate and stability of a currency not largely dependent on the political and economic health of the mother country? If that is the case, then it'll take a few years of constant and verifiable growth for the new country to get stable, grow in real terms, then have a currency that'll command all those positives you listed. Of course I'm very optimistic about the prospects of a Yoruba only or major country so I'm not sounding any alarm.

Just trying to bring all what you and others have said prior about getting focus to the fore. We'll all need to work hard.

The causal relationship between national economic health and exchange-rate stability works both ways, but in truth the stability that matters the most isn't so much that of the exchange rate as domestic price stability. Under reasonably permissive regulatory regimes, one would expect futures and forward trading markets to develop, allowing companies with forex exposure, and wishing to hedge against exchange-rate movements, to do so at relatively little cost, so this aspect isn't something governments need worry themselves about so much, as long as they take care of the domestic situation.

I think the whole issue can be summarized as this: the national currency must signal to those who hold it that it is safe for them to put their money into productive enterprises rather than simply buying houses that sit empty, or hoarding dollars and putting them under the mattress

omohayek:

The causal relationship between national economic health and exchange-rate stability works both ways, but in truth the stability that matters the most isn't so much that of the exchange rate as domestic price stability. Under reasonably permissive regulatory regimes, one would expect futures and forward trading markets to develop, allowing companies with forex exposure, and wishing to hedge against exchange-rate movements, to do so at relatively little cost, so this aspect isn't something governments need worry themselves about so much, as long as they take care of the domestic situation.

I want to believe this domestic situation you talk about also includes the political?

shukuokukobambi:


I want to believe this domestic situation you talk about also includes the political?

Yes, naturally. I'm working on a separate post that will discuss the other side of the coin - fiscal policy and how that interacts with politics.

omohayek:

Yes, naturally. I'm working on a separate post that will discuss the other side of the coin - fiscal policy and how that interacts with politics.

Pls go on soun

Deedeedee3:

You cant restructure Nigeria when the core north opposes it. You need 3/4 of the house to vote in support. Out of 36 states, south has just 17 while north has 19. You should also know that not all reps from the south will be in support. To an average hausa-fulani, there is no difference between restructuring and disintegration...since there will be no more access to oil again. The reason why the northerners shout "one Nigeria" is only because of your crude oil and to have access to your sea. This is why they dominate these resources right under your nose. They dont like Nigeria like Yorubas do.
Disintegration is better and easier because if the whole south declare their country, who will the Hausa-Fulani fight? They cant fight the three nations at once can they? Even the middle belt wont fight with them.

Point noted

Now, having set up an independent central bank with a highly credible governor whose track record is internationally respected, the next step required will be to ensure that the nation's fiscal policy matches up with its monetary policy, so that the central bank governor doesn't end up fighting a government trying to print its way out of trouble it has created for itself through impossible promises. The temptation for politicians to make expensive promises they can't pay for through taxation is strong in any democracy, and when times are good it is easy to assume the money will always be there to fund new programs and policies that are vote-winners (eg Yar'adua's national minimum wage increase), only for their unsustainability to be revealed down the road after a slow-down.

When the good times finally come to an end - and they always do, no matter the country - for politicians who are afraid of provoking a backlash by cutting spending, the only way out is either to borrow massively to temporarily cover the shortfall, or, if the current debts are too high, and willing borrowers can no longer be found, to simply print away the problems, by unleashing massive inflation that cuts the real cost of the government's expenditure. Often this will be blamed on drops in exchange-rates, but the truth is that with sensible fiscal and monetary policies, even very open economies can tolerate massive exchange-rate changes with little additional inflation; for example, the UK, which is far more import-dependent than Nigeria, has seen an effective 40% devaluation in the pound over the last year thanks to Brexit, but inflation has only gone up to 2.7%.

We have seen this inflationary-cycle dynamic at work many times in recent Nigerian history, from the IBB era onwards: governments that are no longer able to borrow to make up for low oil prices try to print more money without any additional resources to back the new cash, and as increasing amounts of currency go into circulation while production stays the same, the inevitable result is massive price rises, which give rise to strikes and other forms of unrest, which the governments then try to subdue through further inflationary pay increases ... and on and on the cycle goes, with the citizens left worse off in the end than they would have been under less "generous" but thriftier governments.

But how do you compel a government to do the right thing, even in the face of strong political temptation to think only of short-term popularity? By putting in place budgetary rules they won't have the freedom to break, and appointing independent overseers who can ring the alarms when the politicians try to get around the rules.

The basic idea behind the fiscal policy rules is simple enough: whatever the average growth-rate of an economy over the long term (I won't get into the growth economics here), in the short to medium term, the rate will tend to oscillate around that long-term trajectory, with good times followed by less bouyant periods, so a sensible government should save up while times are good, which will give it extra room to cushion the pain during the slower periods. The end result is that the government will be forced to run surpluses at the high point in the economic cycle, allowing it to run Keynesian "pump priming" deficits at the low point, both of which help to smooth out the performance of the economy. Fiscal policy rules can also be extended beyond mandatory budgetary surpluses at certain periods, to preventing governments from borrowing once outstanding debt reaches a pre-determined percentage of GDP, so spendthrift administrations don't burden their successors with onerous obligations.

As everyone familiar with Nigeria knows, rules are easy to make, but getting them enforced is another thing, and here is where independent oversight comes in. If a body is set up to carry out thorough and objective assessment of government spending plans, with a requirement that its findings be made public and easily accessible, then it becomes harder for populist politicians to make unaffordable promises, as their opponents will have ready ammunition to reveal the hollowness of their proposals. The United States Congressional Budget Office is perhaps the best known such organization, but the UK also has a similar organ, called the Office for Budget Responsibility, as do many other countries. The virtue of such institutions is that by focusing only on making independent assessments of spending plans, political attacks on their findings (or attempts to undermine their independence) are made transparent to the public as partisan angling for advantage.