@Blazerarip @Tcrypt24 @Officially_Kriz Unemployed people aren’t considered in average income calculations. They don’t have income.
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Slick slim
238 posts
@Tcrypt24 @Slickslim3 @Officially_Kriz The amount of unemployed youths alone will bring down the data more than the super high earners will raise it
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"I can confidently tell you that having a net worth of $45,000 doesn't put you in the top 1% in Nigeria."
Tosin Olugbenga@TosinOlugbenga
Fake data 1% of Nigerians is roughly 2 million people. $45,000 is 62 Million naira. I can confidently tell you that having a net worth of $45,000 doesn't put you in the top 1% in Nigeria.
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The low income people are already concentrated. These are theoretical what ifs when reality is already much worse.
Lawrence@iKillCuriosity
@eldivine The main issue is concentration of low-cost housing. Isolating low-income people in clusters means the areas experience the second order effects of poverty: poorer infrastructure, employers investing less in those areas, lower class mobility, and in some cases, crime.
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@Tcrypt24 @Officially_Kriz You’re confusing average for median. Average includes high earning outliers that raise the figure.
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@Officially_Kriz The data doesn't capture the truth.
An average Nigerian makes 200k monthly??? Lmaooo
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This inferiority complex PR is for people who’ve never been here. Trust Nigerians to eat it up. Funny guy knows what he’s doing.
Ugonna Okeke@Victorokeke_
The women who clean my school dormitories in Korea come to work every morning in their SUVs. Back at university at home, after cleaning, they would hang by the entrance door begging students for transport money to go home. We'd gladly give, because if they didn't come the following day, we'd live like pigs.
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This is such a ridiculous chart. Nigerians are suffering.
Neto@docneto
One of the commentaries that came out from the Moniepoint 500 vacancy brouhaha contained this chart that compared personnel expense as a share of revenue for Nigerian banks. The inference was that Nigerian companies severely underpay their people. At 12% we do better than GTB.
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Slick slim retweetledi
Yet unlike the “Nigerian scam” with only 4 of 20 people Nigerians they added “Nigerian gang” to the headline and official report. No “Jewish gang” here
Brian@Is_Not_Brian
I thought this was a joke man I had to see it for myself.
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@HonShield @Chude_ND1 Probably sold it to himself and is banking on future political power to keep hold of it.
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@Chude_ND1 Whoever buys this is taking a huge risk. Wike won’t be minister forever. A sane, sensible Minister will still revoke it in public interest. It’s a gamble not worth undertaking.
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Jabi Lake is gone, built 20 years ago by the Obasanjo administration.
A place that serves as a recreational center, which has accommodated the whole of Abuja, is about to be shut down due to the selfish interests of politicians. They sold it to a real estate company. So sad to see.
Now, the beautiful Jabi lake will be surrounded with residebtail houses.. No room for recreation, sightseeing, or fun activities anymore.
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Why would there be a lot of Nigerians in companies that aren’t in Nigeria?
El@Promythious
There are many frontier companies in the world that require world class technical talent; SpaceX, Anthropic, OpenAi, TSMC, Boeing, etc. How many Nigerians work there? We can google the most cited AI papers, how many were written by Nigerians?
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@to__nye @dondekojo Infrastructure precedes development not the other way round.
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Cos it's mostly all forest and swamp behind all those locations you circled. No economic activities. What will the multiple seaports receive or send out?
KING ELOM👑🌕@iamNeare
I still wonder why NIGERIA has only one seaport, yet export millions of barrel of crude Oil daily from South East
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@ThePakuma If my fund told me they’re letting a graduate finance student make investment decisions on my money. I would withdraw every cent.
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@ThePakuma I’m an engineer and you’re wrong. I do not expect graduates and interns to know much beyond the basics. They’re called EITs for a reason.
This is a hubris thing and a misunderstanding of titles. You’re not an engineer because your diploma says so and you did a basic project
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Everywhere.
Computer graduates leaving schools are ready software engineers, not in Nigeria.
Marketing graduates leaving schools are ready marketers, in Nigeria they are confused with being taught sales.
Engineer graduates who have worked on projects.
Slick slim@Slickslim3
What even is this take. Where in the world does government train talent for the private sector 😂?
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What even is this take. Where in the world does government train talent for the private sector 😂?
Princewill@ThePakuma
Also, it's not the place of corporate to train talent. It's not primarily their job, they can sponsor and fund it, but ready talent is the job of the government. 0ver 3 million young Nigerians enter the job market annually, not skilled for entry. We have a problem...
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@asemota I work for the company whose founder funded our department building and labs. I presented my capstone project to an executive of the same company. It’s why the takes on this topic are irritating me.
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I should update my older thread on this topic. Talent was always going to be the battleground, and I said this a couple of years ago. You have to build a pipeline that adapts to your needs, rather than fighting in the same market as the rest of the world and complaining when people make optimal choices.
Doing it this way is costly and brutal. Citibank, Nigerian Breweries, and Shell discovered this talent quality problem as far back as the 90s and decided to build a process to take “average people” and turn them world-class.
This process in Nigeria and Africa has focused mainly on coding with Andela and others when coding skills were in high demand globally, but AI changed everything. Demand is still there but it shifted gears.
Coding skills are NOT everything a startup needs. In Nigeria, we lack experienced operators in many areas because there aren't many places for them to learn. One of the things people fail to realize about Japa is that it provides learning and advancement opportunities. You need to create learning opportunities for people as an investment.
This has always been my problem with the so-called “tech investment” in Africa. People are funding the output of a broken pipeline rather than investing in fixing it. They invested in companies skimming from the top rather than building from the bottom up. Google and others did a lot better from the bottom in Africa.
We need company academies again and partnership with educational institutions. I was able to do my undergrad project research because of a lab in UNIBEN partly funded by Shell. This current model we have is unsustainable.
I will write more. This is just a rant.
Olaonipekun BSc, MSc, PhD in-view 👐@OfficialSamkayz
If he says he can’t find talent in Nigeria, the issue is his hiring process. I know someone rejected by Moniepoint for not being “good enough”. That same person now works as a Senior DevOps Engineer at Amazon.
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@eldivine Experience and opportunity is what builds expertise. If you’relooking for premade technical talent you’ve already failed. Those people already have jobs, why will they switch companies?
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@eldivine Education system and executive level in the same sentence. What kind of reasoning is this? Executives are trained over decades, no education system produces high quality PMs or anything you’ve listed. They give you malleable people with basic foundations.
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I'm starting from here so that you guys will understand when I say even with all that effort, senior talent is still extremely hard to find in this ecosystem. I don't just mean designers.
High quality PMs, executive level mangers, strong technical talent and systems thinkers are hard to find at Scale.
This is partially to be blamed on japa but also critically on our education system which needs a massive overhaul.
Instead of lashing out at people who point this out, why don't we focus on how to solve it.
-valar morghulis-@eldivine
Second cohort of @risevest Academy is still on course. Expanded into design, front end and back end. We increased the cohort size from 30 to 80 people and the lessons are ongoing. All fellows of the academy are on a full year stipend, and weekly learning with assignments. And it's completely without any strings attached. Let nobody tell me that we never contributed to talent development in this ecosystem.
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@Babajiide @3rd_Wise_man @eronoaik Why is that layer missing? You’re acting like this company was made yesterday? Where is their entry level talent from 5 years ago?
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This isn’t about training lol 😂 it never is. When senior executives say talent, they aren’t talking about your 1-3 year experience; it’s those guys with 5-10 years. Now the issue is those guys who have that level of experience are the ones who should be training the 1-3 years on the job. When that layer is missing, then the entire system breaks, and there is no form of classroom
training that can bridge that gap.
Now before you argue, we saw the solution in the early 2000s when it was the year of return. All sectors had returnees who moved into middle management and trained up the next generation.
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He is right. But the gap actually does exist more in middle management, and we are beginning to see it in senior management. Most of the quality talent has all taken flight ✈️ and rightly so. So what you have now is a semi-eager entry level, a thin middle, and an overworked top. Also now there are perceived faster was to make money “why will I wait to hit middle management when I can just make the money on social media”
Marketing Ninja - A Nepo Baby@Marketingninjar
Lol, they said you people are not employable.
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@yourfacd @Velmontcrypt @bigbrutha_ If you train 10 people and they all leave. The common denominator is your company is terrible, not the people. That you derive opportunism from this dynamic shows a lack of critical thinking.
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@Velmontcrypt @bigbrutha_ you guys are very funny. After training them, those said employees will not hesitate to leave moniepoint for a better “opportunity” abroad. Let’s be realistic. nigerians are stupidly opportunistic. Unilag used to allow about 8 nigerian student go to china to study…
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LMAOOOOOOOOOO when I said this, they said my mouth was smelling
Over the last 5 years, did we do the work of establishing a good talent pipeline?
We just deceived ourselves and argued about global pay. Welcome to the new disposition
Marketing Ninja - A Nepo Baby@Marketingninjar
Lol, they said you people are not employable.
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@Xhibuzor @TamaraPosibi @bigbrutha_ Who is supposed to do it for him? This is such an interesting line of thought. Do you know how many joint research labs, grants and programs petronas has in Malaysia? They have a university. Where do you people think local capacity comes from?
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@TamaraPosibi @bigbrutha_ Imagine Dangote waiting to train and hire Nigerians to run his refinery?
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@Ajairei @Ferdinandinho5 @DoubleEph That you can just get the expertise elsewhere is a silly argument against local development. Serious countries and companies understand this. Apple silicon won’t be a thing if they had this shortsighted view on development.
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Why should he do R&D?
He doesn’t need to do any such thing. He’s building and operating cement plants for products he’s selling in Africa. He’s not trying to be a global cement supplier (and no reason why he should do that). The technology expertise he needs exists in other markets, and all he needs to do is buy them.
You think MTN does R&D in Africa? Of course not. That’s why they have Ericsson, Nokia and Huawei, who build the tech that powers telecom networks. MTN’s job here is to sell services. Would we also say MTN is anti-Nigeria?
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This is partially correct, but it’s not Dangote’s fault.
The truth is, you’re not going to build world- class engineering capability in 20 years with one industry and one single entrepreneur. And that’s where our typical expectations fall apart.
If I draw a parallel with MTN- yes, the entire management and team is 99% local. But when you go and look at the CAPEX and NOE (network operating expenditure) budget, it’s heavily dominated by foreign companies.
Telecom is one industry I know very well, having being part of the Nigeria GSM ecosystem since inception, and worked across three operators from startup to maturity. But I’ll tell you that before you will have a situation where indigenous technology will make up even 40% of the annual CAPEX of an MTN, maybe 50 years of serious capacity building and government intentionality will happen. Also add the part where not a single locally-promoted telecom operator has scaled into the top 2 ( GLO’s endless fugazi has eventually been exposed, and the state operator NITEL was sold and almost immediately died).
tyro@DoubleEph
We need a new terminology for what African countries understand industrialisation to mean. That word doesn’t quite work because it has no development attached to it. All things equal, you should expect the same outcomes for this refinery as happened with Dangote Cement. For instance, after more than 20yrs, no engineering talent has flowed out of Dangote Cement into the wider economy and I’ve not heard of anyone who developed their engineering talent in the group and then went on to set up their manufacturing or engineering concern elsewhere in the country. The entire management of the company is simply hired from elsewhere. When you read this you’ll notice there’s no crossover between the cement concern and this refinery in terms of engineering talent or knowledge scmp.com/news/china/dip…
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@lyoko616 @J0k3ster_ @jodambusta Nigerias FX situation significantly worsened after the takeover. What are we discussing. Failing to save a sinking business isn’t corruption and ineptitude.
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@Slickslim3 @J0k3ster_ @jodambusta Shoprite didn’t leave because the brand was failing, but because Nigeria’s FX and operating environment reduced returns. That means the business was still viable in principle, so post-exit operational issues can’t be explained by macro factors alone.
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Whenever we're talking about the glory days of Nigeria when things were working and industries were thriving, this was the model implemented. Foreign(western foreign o, no be Chinese/lebanese) management and leadership. There's a very long list of thriving organizations here that went to hell as soon as oyibo left it to Nigerians. Deny and fight it all you want, reality is reality
Abraham Omolewa@OmolewaAbraham
Obj contracted KLM workers 🇳🇱 for 2yrs to manage our 🇳🇬 airlines. They worked splendidly. 2yrs after they left, the ministry ruined everything. Lots of lessons in this fiasco.
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