Can't remember the year, MTN just went live.

At Thistle Bar in VI that Friday, everyone was gathered around a guy with a Sagem phone. He was showing how he could make and receive calls.

I recall a company that was charging N500 to "install"a SIM card.

We have come a long way
Back then you would go to a GSM office, pick a tally #, line-up to buy a phone and SIM. Long line

It was like the US embassy to get a Visa, complete with rude Nigerian guards. Phones and SIMS were scarce, you were billed per minute.
Service only in Ikoyi, VI and Ikeja

Lol. Mainland did not get GSM service.

Abuja had service, the SE did not.

I recall the year GSM got to the East. Christmas travelers were told to travel with their phones cause it would work across the Niger River.

Big deal
I wanted to buy a car, my agent at the port In Apapa was describing this Toyota to me, I was wondering how it would be easy if phones had cameras and video, so he could simply take a video and send over.

Now I attend Harvard on my phone from Enugu

We have come a long way
You cannot quantify how GSM raised the productivity in Nigeria created wealth & jobs.

Same will happen when railways are built in Nigeria. Someone will do a trend in 2070 of how his dad would drive from Lagos to Enugu.

People will ask, why didn't he just take the Bullet train?
"Are you serious? You bought SIMs for N20k"

,🤣🤣🤣

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More from @FinPlanKaluAja1

18 Oct
How to Boost Productivity in Nigeria.

1. Build a 4th Mainland Bridge

The 3MB is now overworked. Built-in 1980 and completed by President Ibrahim Babangida in 1990. Image
2. Railways to ports
Build rails to connect all ports in Nigeria. to be specific, Horizontal rail lines.

Thus you can ship to any port in Nigeria, and simply move by rail. Image
3. Dredge the rivers

Dredge from Kaduna to Baro to Warri and PH.
Dredge from Yola to Markudi to Warri to PH
Dredge from Enugu to Calaber
Dredge From Anambra to PH

New ports in Yola, Markudi, Enugu, Ebonyi, Anambra, Kogi and Niger States Image
Read 5 tweets
16 Oct
"Africa accounts for up to 12% of the world population but produces only 1% of the global GDP & only 2% of world trade. 6 of the 10 fastest-growing economies in the world are in sub-Saharan Africa. This underscores the fundamental need for rapid infrastructure transformation."
"For Nigeria, the ultimate solution is to provide a viable port alternative in the east of the country, serving cargo bound for the east and north of Nigeria,” says Wadey."

Darron Wadey, a senior shipping analyst at Dynamar, a Netherlands-based consultancy.
What Ghana has done is fantastic. They not only addressed the port but also logistics & the roads. Nigeria has these challenges but Lekki port & these added initiatives are really good, & helpful but things have to become decentralised, & at the moment it just takes too long.
Read 8 tweets
13 Oct
In a bank once, a friend showed me a bank website and asked if I liked it.

It was another bank.

I told him I did, he says it's a phishing site, he then showed me real site, no difference.

(If you have the talent to clone a website, why are you stealing?)
My friend told me of how his bank was hacked. The guys wrote a program to charge "bank fee" and we're debiting all Corporate Domm $0.01

Guys were traced to Dubai.

One was caught, made to lure the main programmer . It worked, he came, was arrested

Guy was 23, a student
Police and Bank guys didn't believe.

Guy was given a computer and told "do something". He did.

The problem now? Bank wanted to retain him to build "security". Police said he had to be arrested. Boy was terrified.
Read 8 tweets
12 Oct
Taking a risk here.

I took time to review the economic achevements, most were "approved", or "launched" or "signed"

However a few are worth highlighing for the positive impact on jobs, GDP and productivity.

a trend
1. The Nigerian Sovereign Investment Authority (NSIA) has seen total additional inflows of around US$2 billion, since the original US$1 billion which the Fund kicked off with in 2012.

Excellent. these funds went to the Morocco fertalizer deal. CAPEX and Savings, local jobs
2. 156km Lagos-Ibadan Standard Gauge Rail nearing completion. 327km Itakpe-Warri Standard Gauge Rail completed and commissioned.

Excellent, aids productivity, extends roads life, opens up commerce.
Read 17 tweets
11 Oct
1. An Apple orchard in a small town

Lots of Apples.
2. Lots of Apples.....so many that it falls to the ground and wastes

Excess supply in THIS town
3. Supply is so much you are allowed to pick Apples for free..and take home.

In this particular orchard, the exchange rate or trade deficit is immaterial.

You can't sell an apple, it's excess supply.
Read 16 tweets
9 Oct
When $1 increases to N700, casaava price in my village stay same. Why? There is excess supply of cassava in my village

But in the small town, near my village, prices go up. Why? Less supply of cassava and more demand

This main issue is local production.
If local production is up, then the exchange rate is not material.

The price hikes are not caused by the $ exchange rate but by the weakness of local production to meet local demand.

Local prices can't rise, if there is local intense competition aka supply.
Two shops selling egusi

Irrespective of exchange rates, mama Dollar can't increase her price per pot, if mama Naira keeps hers prices fixed.

Competition breeds productivity, which drops prices.

Mama dollar must find another way to sell same pot at same price eg, use solar.
Read 6 tweets

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