Nigeriaâs Rough Economy: The Gong has Sounded. Brother Serakara Thompson, Ekere Bari. Gongs have historically been used by Africans and other tribes and cultures living in remote areas as a form of long-distance communication. They have also been used for great dance effect during ceremonial and religious functions. When European expeditions came into the jungles to explore the local forest, they were surprised to find that the message of their coming and their intention was carried through the woods a step in advance of their arrival. According to studies, an African gong message can be transmitted at the speed of 100 miles per hour. In some African cultures, the gong is the major dance instrument. This is the one that the dancers really pay attention to for rhythm change and dance step intensity, so the people, especially the dancers pay good attention to the gong. Quite frankly, the decline in Nigeriaâs real GDP for the first time since the second quarter of 2004 is a real gong sound for Nigeria to wake up. So as it turns out, this decline can be seen in a good light. Think of the story of âWhich Shoe Salesman Is Right?â Here is the story. Two shoe salesmen are on a boat. The boat lands on a remote island. The first shoe salesman sees lots of barefooted people and says, âO my goodness! âNo one wears shoes here. Thereâs no opportunity here for business. Iâm leaving.â At the same time, the other shoe salesman says âWow! what a great opportunity! Iâm staying.â The second shoe salesman sees the same barefooted people and says this is the opportunity I have been looking for. In the past several months, Nigerians have been beset with news about dwindling foreign exchange reserves, poor economic diversification and low levels of non-oil exports. Folks, this seeming difficult position is a loud gong for us to dance to the opportunity clearly now evolving. Speaking of clear, a clear fact is that investors don't typically arrive when the economy is suffering. So it is perfect time for the locals to try their hand at literally everything before more experienced foreign investors come with all their sophistication. This is a real opportunity to gain traction, develop brand loyalty and be ready for any competition that shows up. So hopefully the government pays attention. The offices responsible must now use the economic decline narrative positively. The decline can be seen as a gong call to action. Our hidden economics for you.
Posted: Jun 7th, 2016 @ 03:31:51 AM