Regenerative economy

Regenerative economy- case study for the emerging markets and developing countries. The Sciences, Arts, and Theories needed to correct Economic anomaly; Information (Education) is beyond an important asset (Pin-point analysis and cohort analysis).

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CONCEPT NOTE

Holistic look at the factors of production (Land, Labour and Capital components): offers a more comprehensive and comprehendible overview. It is however very clear that changes that require attitudinal adjustments are not easily accepted. Leveraging initiatives such as economic growth, development, and stability - financial (monetary and fiscal) and non-monetary are easily the lowest hanging fruits most especially for the African nations especially Nigeria.

There has been a lot of talk about diversification of some economies and proper planning in order to forestall unfavorable economic turn of events as we have seen in the recent past within some countries in the eastern African block. The following are the benefits derivable from active participation in international finance:

-?????? Access to capital;

-?????? Debt relief and restructuring;

-?????? Technical assistance and capacity building;

-?????? Trade facilitation;

-?????? Knowledge sharing and best practices;

-?????? Sustainable development and climate finance;

To maximize the benefits from global financial pacts, African nations should prioritize good governance, transparency, and effective implementation of policies. They should also actively engage with international financial institutions, regional organizations and bilateral partners to align their development goals and priorities with the available resources and opportunities as the president of Nigeria Bola Tinubu (GCFR) has started his administration with.

Agriculture moved India from a food import dependent country to self-sustenance in just over 2-decades. In Nigeria as statistics from 2007 showed 51% of arable land were still untapped for agricultural purposes. Diligence and dedication can be the start point of reconstructing Nigeria. India placed export embargo on Rice and the world is not at easy only because of that pronouncement. We can then apply all laws applicable to get the result of good use of Labor strength cross-national populace and capital components of the various banks especially the Bank of Agriculture; where we would pay much more attention to distribution of these farm producer for production purposes. Reducing food losses and boosting the economy of the continent. We have, and will continue to agitate for an economic calm in the largest economies in Africa for both national and continental stabilization reasons. As it is known that an angry man is a more often than not the hungry ones.

Production is a good signal for/of a growing economy. If production is based on both economies of scale and scope, then we will have a better economic outlook for the countries (mostly emerging economies and developing countries) and the continent of Africa in particular with better due diligence in place more would be achieved as expected. Production can best be described in the below stated ways: acts, arts, procedures, and processes of conversion(s). Production when not sustainably done does more harm than good to the environment and its inhabitants; this cannot be over-emphasized, becomes clearer with each passing day. Mechanism for the future benefits and plans for the patterns of economic growth as SMEs in the Agricultural sector portends and can create in the subnational entities of the Nigerian nation. The benefits in terms of nutrition, with the adherent disease prevention purposes that good food guarantees and the health-enablement role feeding plays cannot be over-emphasized.

Production of any kind follows the input of important statistics especially the critical components which is the capital. Capital inputs are, and should be flexible, customized and very responsive; with the above stated as expected we would reach of the economies of scale by proper identification of the best practice in production, end – to - end control of quality. For most functional producing countries these three are near perfect: old rule, Disruptive technologies which now leads to the new rule where decision making are mostly non-political and non-ethnoreligious has to be applauded. But with expectations rightly measured, plans of procedure and execution of the strategic and thematic apparatus of these projects known in details the effects and result can almost always be tremendous as it will eventually come out. Sustainable finance through agriculture. We would infuse climate – smart agricultural practices to better the expected results and await the gestation period of places that are not matured enough for the smart-technologies owing to some other institutional and technological advancement which varies from place – to – place within the subnational entities of Nigeria.

Sustainable practices and processes bear fruits and that is a known fact; we hope these plans, when their losses are compared would not make us wish we have started earlier. It is often not too late to start-over. The losses occasioned by these unsustainable practices, inclusive of production where hazardous substances are expelled, are now measuring up in trade-offs. In the advanced economies production has gone extra-ordinary, we Africans present the world with the most efficient production regions and premises with huge returns-on-investment as the President Bola Tinubu make known in India at the G-20 conference. He said “G-20 without Nigeria is not complete; we totally believe him.

We offer cross-sectoral/multi-dimensional productive inputs which include, but not limited to: People (so much unrest, farmers can no longer farm and/or even harvest their produce for the fear of kidnapping for Ransom, soil losing their fertility (failed crops) and even some cases are made bigger by the extreme weather events (flooding, drought, armyworm-insect invasion, heatwave...) Materials, Information, Finance (decisive mechanisms and action-plan (governance style and apparatus of mass deployment of funds to the grassroot)) - with Land as a resource a big talking point, we clearly have stated it here. That said, all or some of these goes through processes best needed for its conversion into the desired products. Problem-statement that Mr. President has read and has acted quickly upon by appointments, bilateral relationship and mechanisms for which private-sector has been known to bring to bear in nations that we are learning and adopting developmental skills from. Well, these processes include but not limited to: planning, organizing, and control mechanisms; Research and Development; Production, Supply chain, and Marketing activities more can be achieved within and without. For the big countries and companies, outputs range from products, ideas, services, and the management of their wastes; if we are doing well, efficient corresponding results can be expected.

Production procedures have to be better checked to ensure that the process efficiency does not in any way undermine resource efficiency when measurements concerning the environment are revisited after the entire cycle is complete. However, effect evaluation, context evaluation, and process evaluation, and cost evaluation all must be in alignment with cost-efficiency, as we have always clamored. Biodiversity protection should be a factor of consideration in the aforementioned as well. We place a very limited premium on some of the most important factors of production which are to be considered during production where some are the intangibles others are tangible and we shall be speaking about a few of them in a moment. Proper economic metric must always consider environmental impacts of our complete cycle of production processes. The upper-limit case of sustainability is now being considered in developed nations, while it has become a rallying point for serious nations within the #EMDEs. There is such a thing as (value of accurate information) with this in place, results of success are similar and replicated, and can be repeatedly reassured many times over.

INTRODUCTION

Production is usually resource dependent, and that, we are about to do justice to in this article; please let us find out together what other factors influence production other than the tangibles as we have noted in the above section. Not such much about the capital inputs, and the procedure of application of such human and non-human factors which form these critical inputs called the capital component has to be comprehensively dealt with. Capital can be raised through several sources and deployment of same can/should be crucially examined in the foregoing. Task specialization, the chain of command, unity of direction, and span of control are the most needful decimals to measure effectiveness any, and every time sustainable production practices are in the fray. Be informed as it is no longer news that (In-)formation can be substituted with Re-formation; De-formation, in effect; these can have grave consequences and/or positive outlooks on outcomes against desired result reviews. Can we have a better look at information as a factor of production in every policy-making action as well? The answer is in the affirmative. Direction, and speed are functions of in-formation, so inadequate/lack of it can mean going no-where fast, as seen in some nations of Africa.

Indecisive governance can mean bad government, but all those are behind us now. These are basically the classes/plans of action that brings about growth:

- Exploitative Authoritative;

- Benevolent Authoritative;

- Consultative;

- Participative -group.

Actions and passage of information takes these courses and we have witnessed some hazardous effects of misinformation in the recent past. Accurate information along the lines of production means better results socio-economically; the citizen and nation would enjoy the impacts both negative and positive. The types of information accessible and available should be centered around agricultural development but access to useful data, information on soil composition and how it impacted of the crop production must also be accounted for. We must feed Nigerian and we can export to the sub-region where we derive some economic benefits and stability across the region. Health has its strength driving positively or negatively through agricultural gains or woes. With these plans we would have solve a significant percentage of our pressing needs as Nigerian and Africans if we have enough to export.

The above will inform, as well as reform us, if not deform - resulting in necromancy, and negligence of procedural acts which might not be in accordance with best practices either in communication of ideas or instruction for production which the margins of error might not be able to cater to adequately. Information will breed in you the needed patience, and perseverance; these are the prerequisites for success in all endeavors. Information keeps one abreast and stops one from being deformed, and that is not even a secret anymore. Development = peace; energy = development, clearly, however else we may say this hesitate not. Cities and nations are constantly misinformed which often has catastrophic resultant effects.

Having said that, Force (Produced) = Valence X Expectancy, these depend so much on information which builds up (personality, knowledge, and skill; Efforts; performances et cetera) where the opposite also holds firm. As work becomes multidimensionally, it also becomes substantive in the least possible variance. Valence (Views that attractive reward is available); Expectancy (views that efforts will lead to effective performance) and Instrumentality (views that effective performance will lead to reward): we have explained what EXPECTANCY THEORY is and would be as simple as that. Just before we start talking about Africa like other continents of the world are non-existent. Production is a factor of economic growth; sincere economists know, and are aware that lack of it is the opposite of economic growth. However, when the production effects are more negative than they are positive, then and only then are there huge problems to deal with.

INFORMATION plays a sufficiently substantial role and we all are aware (Nordic case-study). Sustained practice in excellence is called PRAGMATISM, information (education) is beyond significant here as often proven. In Engineering the first step to production is accurate data; here data = information and both are often used interchangeably.

A vision especially of a turn-around of countries should include these three elements: It focuses on operation (all arms of government, parastatals and apparatus of government as regards Labor, capital and Information), secondly, it must include measurable objectives and metrics; and the third, if it(vision) is really powerful it changes the basis for competition among states and other federating units. There below stated as the means to an end:

-?????? Developing market strategies;

-?????? Acquiring high-level beneficial bilateral trade agreements;

-?????? Delivering products and services; as a nation our exports as majorly being raw materials and crude produce(s) which has to change;

-?????? Calculating and collecting of real and genuine data;

-?????? Managing the delivery system especially of the capital projects that are allocated and budgeted for

The way it best works is that each of the identified programs and plans of action as it concerns these elements and critical production components are soldiered by pragmatic and competent individuals who are not only interest in the end results but enduring the process(es) all the way.

The best things in life are asymmetric - assigning personal responsibilities for each course and action; it is that simple. Capacity being built as learning on the job and such ability are/would be critical to the lasting effects the projections and programs would have. It is honestly not enough to see so many infrastructures under construction, with our debt servicing cost at the roof top; what are we doing about being able to handle these projects domestically and retain some learned hands as everyone except some of us have left the doom the nation has become. Under the administration of President Muhammadu Buhari. Major changes cannot succeed unless it is driven by passionate executive leaders. We have first map the programs, such as Sustainable cocoa planting for export; Rubber production and industrialized rice plantation where Agro-industrialization is being married to renewable sources of energy especially waste-to-energy along these production lines to counter the damning effects of climate change. MIGA can through some policies of theirs provide leeway for some interested individuals to vent their production thoughtfulness and know-how to herness the processes that has worked in places like Vietnam, Thailand and even in Brazil through different programs that are domesticated in countries since it is only participation rights were obtained from such countries that later owned the success of such lofty ideas and production processes. The foresight of the country’s leadership has to be bought.

Mapping the process in a step-by-step manner, because you cannot improve anything you cannot define. How are the trainings conducted and what are the improved techniques to cultivation and how climate smart are the procedures, what is the return on investment, what incentives are there for the products and produces? With answers to these questions more can be achieved. Kindly find attached data from the IFAD datapage.

Africa spends more than 2/3 of its annual earnings on importation of finished products, after several years of unproductive energy turn-around talks and no commensurate actions. Biomass, - fibers of trees (Fue, rice brans, agricultural wastes from the process-value additions) can be the change. Energy substantially determines and practicalizes science fictions more so these agro-industrialization which Brazil are and/or are becoming great for. Energy is the bedrock of development, and any enduring development would have to follow true and through.? Energy efficiency would be held-on for a minute as regards scope of coverage. Rate of work-done improves with rising energy availability. Sources of energy must also be considered here because energy as a source of improved economic viability has been decisively dealt with the times past. Nations are world-power not only because of the advancement of their technical know-how but its applications; energy plays key roles in all of these. It is however not enough to know what to do; Africa is in darkness an opportunity that lies in wait. Process completion becomes a mirage with inadequate supply of electricity. With about 600million people not connected to any power-grid. It presents a huge challenge which can be turned into opportunities.

More than 50% of our farm produce gets spoilt within the distribution chambers; a huge source of methane an active GHGs which warms the planet much quicker. Seriously concerning but we would have to discuss this much later. Methane is an active short-lived climate pollutant capable of redirecting the RCP of any nation. Attendant climate change (inactions and consequences) is very evident with us as it stands. Proper planning and consistent reviews can better the outlook of these very poor nations.

DISCOURSE

There are about 26 – 45 million MSMEs in Nigeria, out of which about 90% of them are Nano-Micro enterprises. These set of individuals with a better understanding of the use of these variables can better their various businesses in diverse areas of trading interests and services. When their labour – perquisite number 1 for production process (people) - ?cost and other variable and non-variable costs and risks are shared to a large extent by the government through a targeted intervention results will begin to trickle in. Are there healthcare plans? Can poverty be fought head-on? A study by Hon. (Mrs.) Flora F. Moses-Owa my late mother in the early 1990s in my local community of Yagba-west LGA of Kogi-State, then {Kwara state}, viewed multidimensional poverty reduction to cater for health of these class of nano-enterprises; stone crushing community where an extended family of 5 hardworking members made a total of twelve thousand Naira and out of which five thousand goes to drug buying and personal health related expenses(out-of-pocket health bill) and are left with just over one thousand naira each. The children of this class of people assess education as only an option. Soon their grown children turned into forced Labouré, then poverty is entrenched in the virtuous circle of poverty.

?Addressing some of the issues confronting the continent of Africa has to be holistic. When all the factors are considered and root causes are addressed in a sequential order of needs better results socio-economically can be expected. The components under examination are best derived. When the derivation is germane and unequivocal, solutions that are deduced are non-linear and not so mechanical in nature anymore, it flows. Health, cost of living and living standard under which other socio-economic references are drawn can be bettered, when best practices are applied in the use of land, labour and capital as production components the best is usually the best regardless. The purpose of knowledge is action, if some of the very poor nano-enterprise practitioners are better informed about what government provides some more relief incentives, only then can businesses begin to break-even and more is achieved with less labour content.

?Businesses (successful) such as these ones can provide the needed shock-absorber where growth becomes asymmetrical – (knowledge sharing of best practices and sustainable development – financing ways to go. Poverty is addressed thereby, and it was what Chile achieved making all components of the energy and production apparatus yield positive results. To have a complete re-engineering of anything or process especially of production where the resources (land, capital components, and labor) or the actual theories of service provision; more knowledge has to be spread abroad in a manner that the lowly can have a take on it as well. Community engagement remains the best process of communication and that is very clear. Smallholder farmer play a crucial role and get them the right support matters a lot here.

Nigeria currently has a staggering figure of unemployed people though the NBS-Nigeria has recalibrated their requirements, some semblance of hope or maybe dooms’ day delayed gratification - almost unbelievable figures from times past. Reengineering is imminent and it entails the radical redesign of any/every operational formation or apparatus suitable and suited to the best deployment scheme of government. Either they are existing and/or created through special purpose vehicles.

A few principles will be of importance - consideration if looked dispassionately at:

- Inspection;

- Storage;

- Operationalization;

- Transportation;

- Delay.

The above will make any industry work, from food and distilleries; Drugs and books; Oil refineries and breweries; extractives and Steel production; Sports and education, and the list is inexhaustible as we have always said.

?Regardless of the language, one is thought with, one thinks well; reasons-straight in terms of rights and the wrongs. You see, when we speak about a nation (ours and/or others), we do not just speak; we act on preponderances of know-how to do things better and do better things.

Reengineering a nation as big and diverse as Nigeria is requires that total quality management (TQM) AND SOME OF THE OTHER QUALITY IMPROVEMENT SCHEMES ARE APPLIED WITH A PINCH OF SALT. As a matter of fact, other manifestations of the contemporary quality improvement apparatus must be rationally applied as what is on ground is beyond textbook knowledge. First there should be quality process orientation as it applies to each step of the production process where all the steps from preparation – raw material sourcing – production – execution of marketing strategy where all the boxes are ticked so that state-owned-enterprises can be sufficiently accountable in their day-to-day affairs. State-owned enterprises that way they stay productive and profitable. Here the assumptions of specialization, sequentiality and delivery timing cannot be guessed. It is either known or unknown. It cannot be assumed as X. Process ambition and several rule-breaking skills as apt to the deliverables as possible must be applied for meaningful results to show. Reengineering that the Federal Republic of Nigeria required now would quite frankly be in variance with the Adam Smith’s industrial paradigm – the division of labor, economies of scale, hierarchical control must filter away for known reasons. Since the emergence of Asiwaju Bola Ahmed Tinubu the dynamics is changing substantially.

?Rubber for instance takes away some of Nigeria’s external reserves and some of our earning (IGR) for unbalanced trade reasons. We would work with the organized legislative houses in Nigeria to fast-track extant laws to give credence to some of the result-oriented and purpose driven mechanisms of government already in place to create global value chain that gets that working. The Steel mill in North-Central Nigeria would be another meaningful experimentation but we might not very well be grounded on that home front. But, no doubts at all with the Ore deposit on that site, the world would be grateful if the Ajaokuta Iron Ore and Steel mills can become functional again - a gesture worthy of an attempt, a convincing one. Only that, cycle-time and cost would be huge to produce a defect-free service and products under whatever concave one views it from, could be up for consideration and useful conversation with the World Bank. De-linearizing the governance process in this regard would be done through the Labour Ministry of the federal republic of Nigeria. More would be done simultaneously and at the very same time. Reengineered economies and production processes use control to the extent to which it makes economic sense and same can be applied here.

?What we do with the information received is as important as the accuracy of the received information. Information management system goes beyond data harvesting and collation but clinical reviews aimed excellence and proper management of man and resources for sustainable production process. That said, Rubber demand and consumption as raw material has grown exponentially and domesticating same would have a far-reaching impact on the smaller economies around Nigeria if/when down well enough. The right time for that is now. How about management, and the different types there are: Management by principles broadened into: Principles of objectivity, principles of specialization, principles of coordination, principles of responsibility, principles of definition, principles of correspondence, a span of control, the principle of balance, and continuity which are the means of achieving the same results several times over. With the above, whatever has to be successful will follow a specific rule, and some of the rules are here, and what is missing might be attitudes and values. Also, we hope things change as soon as possible; quickly enough. How can we better Access/Control/Benefits of education (use of available information and/or information processing); since what is said, and what is understood are not same most times, this is not a document to cast aspersions on government policies, but to better them. Information (data) being a production component worthy of note.

?However, Access--> consultation, design, implementation; Control--> Decision making, Ownership, and laws; Benefits --> COMMERCIALIZATION, with all these duly carried out, there would be an exhibition of a more balanced approach which would make gains to any government and its people, honestly those processes cannot be stressed enough. The start -to- finish of any product development process are as stated above. How much of applied information, and knowledge is being explored in some parts of Africa? Understanding of these was craved by the amount of information we have been able to process. What is our net land-use, and natural disaster (extreme weather events), ecosystem degradation or climate change viewed from the vulnerability concave, are there data for use in the related terms? Unfortunately, even if available how are they gotten, processed and how trustworthy are they? Good enough education on any of these can-do nations a world of good. Good! Production processes are accurate information dependent. As we encourage everyone to be in search of useful and usable accurate information, also planned execution of the complete production cycle can be a game-changer; the control of this lies solely on the government.

?Work often becomes very much more enjoyable and very rewarding when the accurate results are been expected. Knowledge impact and archival records become bolstered, since people’s jobs have a greater component of growth and learning; focuses shift from the peripheral to the tangibles. Performance measures especially of releases of funds, advancement criteria re-evaluation even before commencement of jobs whatever needs to change has to change. Moving from a protective economy to a productive one is what the nation (Nigeria) needs in the face of devastation worsened by Climate change; can that be said to be achievable with the metrics available and applicable knowledge availability? Hopefully for the best.

Organizational structure changes would afford a lot more flexibility in the staff selection process of the Ad-hoc programs that the country would urgently need to cross-examine for an improved economic outlook. If only Agriculture (food sufficiency) can be achieved over a period of 3 farming seasons within any particular Geopolitical zone many more bright ideas will emanate from Nigeria.

?Hunger without hope has led a lot of people to crime. Some are becoming hopeless by the day. If we can improve the Agric Value chain appropriately where inductive reasoning becomes the order of the day. More would be achieved. Cycle time, accuracy and cost when participatory ideologies are very well embraced, it is far better to not be dumb than to be smart in the process being written about. Reengineering involves invention and discoveries, creativity and synthesis there are experiences between 2019 and post-Covid management theories that should be adequately merged after proper examination has been done; we understand the post-Covid theories better. Application of knowledge should be the hallmark of all human endeavours.

?Decisive use of initiative as we have often demonstrated would be brought to bear upon request as the days and weeks roll by. If for instance mechanized agriculture is the subject – matter on the table, and we religiously follow strategy development – product development – customer design and support – manufacturing/conversion capability development, customer communication (townhall meeting, radio programmes, understandable pamphlets etc.,) the products will compete in the international market favourably. Concept formulation including prototyping, the complete reference cycle of production brings a lot more than we can put out in the write-up here.

?ROLE PLAYING

?Education [information processing ability] is beyond what we learn within the walls of a school. Whatever form education takes, it must be taken only too seriously. Environmental know-how can also be kept in-view properly or by due consideration. Roles of objectivity in business goals especially government businesses are inestimable, let us consider the following:

- Defines the organization's relationship with its environment;

- Helps an organization pursue its vision and mission;

- Provide the basis for strategic decision-making;

- Provide the standards for performance appraisals.

Issues of goal-objectives setting include Specificity, Multiplicity, Periodicity, Reality, Quality, Verifiability. The above drives profit, growth, social responsibility, efficiency etc., in businesses; what more are contemporary businesses for? Break-even and/or gains when the business is not government-owned in Africa it makes gains or at least break-even. Some of us knew President Tinubu will be successful true and through he is learned.

?In this region not a lot of attention is paid to gains since with or without gains, allocation comes with this favorable quota system which is in place. Imperialism will never work for Africa, and we should not attempt it. Devastation lays in-wait, and that might have become increasingly obvious. Moreover, we have to view this in a manner that is consistent with the laid down principles of all the successful endeavors in the past. Information about anything brings about best practices in the related terms, and on all subject matters. The land is both an economic, and biological resource, see this:

- Land as a geographical site;

- Land (Mobile factor or immobile factor);

- Land: limited in supply and exhaustible;

- Land: Subject to the laws of diminishing returns;

The land consists of the following:

(A) The Agricultural areas of the earth's surface;

(B) The natural grasslands, woodlands, and jungles;

(C) The deserts and ice deserts;

(D) The Ocean and seas;

(E) The chemicals of the earth's crust and of the atmosphere.

We dedicated a Television interview to this?and it was "Environment and You on ITV on 2/10/2019" extensively the topic was dealt with. The creation of The Ministry of Marine Economy an applaudable gesture. Governance at its best through a lenses of view.

?Land as a resource for production goes beyond what happened during the agrarian times. India with less land-size, and population size more than the whole of Africa feeds itself and produce for export reasons. Are there things they know better about process management? Improved seedlings and better techniques derivable from years of practice; can knowledge be borrowed and adapted for use on the continent? Transfer of knowledge is the best means-to-an-end. We have to reiterate that the interplay between land, atmosphere, water is important in roles and quality of existence on land where the living and non-living occupants of Mother Earth co-exist. But how harmonious is the marriage in question? Land as a biological resource and of the Labour involved in the production as either capital or capita determines end results.

?Quality of Labouré is dependent on the following, and you would now see the link:

- Health;

- Education;

- Incentives;

- Availability of other factors of high quality;

Have we all seen the 8-Point agenda of this current Nigeria Administration, all in-tandem as stated.

Kinds and ages (demography) of working population matters a lot here, and we have said this often, that, 5.3 billion in 1993 grew to 7.3 billion in 2015 (exponentially) some countries have used this to their advantage, and we know from basic economics that low-labour costs are favorable factors for location and localization of industries. Idle minds = Political instability! Only marginally higher than the above in the hierarchy of importance. The population can be of a huge benefiting acumen (quality of labour) or otherwise; a dependent variable. Total cost = fixed cost (Land) + variable costs (capital, capita, and labour); worthy of note importantly also. Labour cost, and quality of living should share a better outlook than its currently being experienced in most parts of Africa especially in Nigeria. With a population of over 200 million people almost all of whom are dependent on imported goods including toothpicks, is that not enough to tip the trade balance off our favour as a nation?!

With vast arable land, but famine is dealing with the whole nation due in part to incongruence of policies as well as inadequate/inaccurate information almost across board. More has to be done to better this outlook. Inflation is usually as a result of too much money chasing very few good and services; with more production on board the burden is lessened, and creation of employment with the resultant effect bettering the lives of people becomes the new order of the day. Poverty is reduced with more disposable income within the reach of the masses.

?EXPERIMENTAL LITERATURE

?Moreover, Capitals are of these presentations:

- Special Capital;

- Capital, Income, and wealth;

- The Accumulation of capital.

Entrepreneurial functions can be very beneficial to the heavily populated nations like ours, and we have said a lot in that light. There are more young adults that older people in Nigeria (19-53) years old account for about 62% of our population today. Let us define an entrepreneurial function: is the control and management of an enterprise. This function can make the most of our SOEs (state-owned enterprises) making them profitability since the capital, Labour and Land are all government-owned, just doing the right things well, that is the minimum requirement and it is also not too difficult to be and do that? Information might be the problem. Management Ownership as some others will call it, is the way Qatar Airways, British Airways, Ethiopian Airways, MalaysianAir have been able to stay afloat; can some SOEs try to copy them, by adopting a proper understanding of the following for results:

- The nature of the processes involved in production;

- Increased scope for the division of Labour;

- Employment of "Lowest common multiple" principles in practice.

The above-stated principles of best practice will work everywhere including of course, on the moon, we would never stop saying these things. Environment and the economy are 2-sides of a coin, and that might very well be explained to anyone in whatever language that suits the listeners. In being able to look after ourselves better we boost our economy, MSMEs a-person per time; make 3-million of them millionaires in 5 years where buy-out (cross- continental off-takers) especially of agricultural produce or machineries, or even quality academic materials (building your future tomorrow even better by creation of mini-hubs for experimentation of ideas et cetera; in so doing building of human capacity as a nation). Easier said than done but we can drive the needed development theories having do so entrepreneurial initiatives that has yielded results also ourselves. Except of course, complexities, exception, and special cases these principles stated here works every time. The goodwill of the government might be a factor to consider, some of the reasons for ostracization from the governance of Nigeria. Goodwill might not be completely important but necessary additive.

Once the above is done and perfected, then internal and external economies of scale can be re-adjusted, gains will only flow naturally; sensible right! Not always the case, in the places most in need of development. And I can talk on the above for 3-whole years without having a water-break or looking down at any note. MIGA of the World-Bank Group has/is been my most instructive lecturing partner on that for many years. In my early years, we use to receive newsletters from them, but the black skin is only too wonderful; in fact, impressive - circumstantially great! This is how important the Labour component of the production process is: companies are not asset portfolios, but people working together to invent, sell and/or provide service – When these MSMEs can be up to date on the above stated in the best way profitable, taxes would be paid, employment will be created thereby the outlook and output will be bettered. Inventory – planning – production – post production - distribution the whole value-chain; comes right back to LABOUR a very critical production tool with which the nation of Nigeria can lead by example.

Making the most of the of the economics to better the labor force participation in growth is not only a good thing to do, but a way to-go. There is such a thing as economies of scale:

Internal Economies of the scale includes:

- Technical economies;

- Financial economies;

- Marketing economies;

- Administrative economies;

- Research economies;

- Welfare economies.

So, you see what we mean, and quickly let us quote Mahatma Gandhi here: "freedom is not worth having if it does not include the freedom to make mistakes." As African we have made a good number of mistakes, can we learn, and move ahead as fast as possible? Let us do the needful for a collective rather than selective growth as perceived. #LeaveNoOneBehind by 2030, hopefully we would not be so disappointed. Making gains can be achieved by re-twitching a few things; whatever that means to the government of these African nations.

Furthermore, MSMEs (Micro Small Medium Scale enterprises) can be the best shock absorber for growth, and developmental shocks, more of which we shall be experiencing with increased climatic energy in the days fast approaching if a few of these things do not get done. However, not saying a lot or anything on this note about #climateemergency other than that, it has the ability to wipe away every gain accumulated on a single extreme weather event basis. So, it requires some levels of seriousness, and we often have not had so much of that in the places most in need of such. Common sense is a #rare privilege now than ever before. Merits of MSMEs includes:

- Effectiveness of decisions;

- Personal control promotes goodwill and reduces risks;

- Employer-Employee relations.

Will these make policy participation improve? The answer is yes. And can the whole country be better governed if a lot of its citizens are risk-averse, and better informed and productive in diverse capacities? Yes.

Land and other resources can be more judiciously used, and we can have most of our needs met. Food, shelter and clothing are the most important needs of man and through meticulous planning needs are met. With eventful/adequate planning, follow-up, execution these resources can be better to nations of Africa in terms of development and growth. Growth across the globe has been said to witness downward review from 3.2% in 2022 to about 2.1% in 2023. The debt: GDP ratio of a non-producing nation which Nigeria is a part of today, is beyond alarming. However, there some demerits to this too, including:

- The division of labour is too small;

- The personal abilities of the entrepreneur decide the scale of the business;

- The proprietor will be personally responsible for debts/risks of the business.

These might create a scare in peoples' business acumen, thereby reducing the appetite for such necessary risks.

An increase of %VAT with no corresponding and/or representative incentives will further exacerbate these fears. Let us now look at the external economies of scale:

- External technical economies;

- External administrative, marketing, financial economies;

- Welfare, pieces of training, and research that had to be outsourced are amongst other very much needed expenses.

The above better explains why GDP should not be the only metrics used to measure growth, as realities on the ground and what the growth numbers are saying might not be in-tandem with a closer view.

Classes of producer goods that lead to our need for letters of credit are all the following:

Constructional works (goods and service enhancers);

Plants, Machinery, tools, and types of equipment;

Stock of raw materials, and partly finished goods (petroleum products like PMS;

Until recently in some select countries "Consumer goods" like RICE are there. A balanced or perfect market will cater to some of our concerns invariably, and those have largely remained blurry in this part of the world. Your guess might be equal to mine; not always, but now; clearly a shared opinion.

Education (information) should be paid a more decent attention especially its link with the betterment of all it is applied to. It is so fashionable to not know anything about your job description, and be proud in Africa now than anytime/anywhere else in the world's history a decimal to be changed as quickly as possible. More so, we spoke earlier about span of attention/control, task specialization, unity of direction, etc., as important factors up for consideration in the subject of discussion at hand, very important – human factors. So, bringing it home: nature of specialization can be of importance, and they are as follows:

-Specialization of trades;

-Specialization of sub-trades;

-Specialization with family, clan and tribal (specialization of identity);

-Specialization of the process [Simplification, standardization, automation, specialization, computerization, etc.

- International specialization of Labour as it concerns the educational system:

(A) The use of individual skills and talent;

(B) The development of specialized trades;

(C) The subdivision of these trades into aspects;

(D) The further subdivision of these aspects into processes;

(E) The mechanization and automation of processes;

(F) The computerized control of automatic processes.

PASSION is that which sustains one until the results one hopes for comes, it usually takes almost forever for one to become an overnight success in business either state-owned or personal as it might have been obvious. More such characteristics should be encouraged.

Henceforth, whenever we speak let the views be very objective, not that we are advocating for one political party or another; we remain apolitical. However, not a bad choice for politicians and everyone that aligns to one political party and/or the other, but, whenever it is from me or the company I represent; it is not due to courses of personal gains or perceptive creations. The economy is where everyone operates, either you are in the service provision, products sales and marketing, innovation and Research and Development like we have excelled in; the economy is where you will be played or play; what we all need is education to be the best at it (whatever "it" represents). LAND & LABOUR when mixed well can move nations from poverty and want to stability; capital factors duly considered at a detailed pace.

There are a few disadvantages of specialization, and are as follows which might be because of lack of incentive/conducive business environment:

- Industrial unrest and social discontent;

- The decline of craftsmanship;

- The monotonous nature of many highly specialized employments;

- The growth of tertiary production;

The above is further compounded by these factors of influence:

The extent of the market;

Technical impossibility;

Inadequate monetary/fiscal systems.

Can we refine these views with an aim to bettering the lots of everyone especially the SOEs for them to make a profit as clearly as possible, a needed decimal frontal.

HYPOTHESIS

Nonetheless, a few things/factors/attributes are of grave importance when we are speaking to production factors (Land, Capital, and Labouré); they have to possess the following with exactitude and in proportionate terms [character traits that can be learned]:

- Distinctiveness;

- Consensus;

- Consistency.

We have said this countless times, too much of everything is bad; not on this one size fits all approach to recreating and redirecting the economy would ever work, but, cohesiveness in the nature of tasks, where individual roles, group norms, nature and the motivation of members, etc., and the Environment (Land and the climate) being coherent in practice are all of extreme importance for any and every successful adventures - all mentioned factors being treated as important [1-government approach]. When the need assessment is done dexterously, solutions are set in motion, and they would give the desired results.

Attribution: reading meanings to people's behavior in the light of perceived internal or external forces can be misleading indeed. Determination and strong-will are essential to a beneficial life, and livelihoods, however, looking back to what I have been through, the difference between winning companies and losers is that winning companies know how to do their work better ~ Yours truly. It is our wish to say in ten sentences what some others say in a book.

There are a few ways to measure achievements either as a citizen of a vibrant state and/or a failed state:

Time - coefficient measure;

Money measures;

Measures of effects;

Reaction.

For instance, the relationship?between municipal and international law; treaties create a legal obligation between states and individuals; hence individuals are not ordinarily subject to international law.

The legal transposition of a treaty into the municipal law is a question of the domestic legal system of the contracting party "proprio motu" provided it is not inconsistent with a statute section 12(1) of the 1999 constitution of Nigeria should judicial interpretation be sort and gotten appropriately. Economy, social, and governance has just been interrogated together in a sincere legal text.? Section 20 of the same constitution is clear on its provisions, and what is it that has been achieved so far? What are we measuring and who is doing the Measurement, Recording and Verification? We would not attempt to proffer solutions, some people are paid to do so, however, we are here hopefully these people will do the needful. Because with an economy that is working less crime and criminality is witnessed, the opposite is often in the offing where nothing seems to work.

RESERVATIONS

A few things can be better with consistency, character, commitment and charisma, when things get better, everyone would appreciate the benefits accruable from such betterment.

Forming, Storming, Norming, Performance, adjourning are the steps we have chosen to drive numerous innovations through, and still on still! Information is key, even better when it is accurate. Making most of African markets perfects would have a good cascading effect that spirals down to affect everyone’s life positively. Perfect markets have the following characteristics:

- Large numbers of buyers and sellers;

- Homogenous commodity;

- Absence of friction in the market;

- Perfect knowledge of the market;

- No one receiving preferential treatment.

Are all these in place or practicable? If we choose any agricultural produce as specified and do business in the ways stated above; where perfect market system is fully operational a lot would change If not, then, what are the plans to better the lot of the people by reassessing the situation(s).

Best steps forward remain commitment to doing things through the best practices approach, all the above-stated testaments can be further assessed and/or implemented by the following moves: ANALYZING - Agreeing actions - Actions - Adapting - Affirming - Assessing (and over again). Is your country a good example of these commitments? If not, what are the best fair enough plans to better address these shortcomings as identified? Has anything been done with the suggestions made in the time past? When the new ones come in what will change or has changed to drive the needed growth? Thorough clarifications are most advised for proficient answers. Submission of the proposals that would be converted for office occupants’ gains has since stopped coming from Prigem Concepts Limited; best wishes in the future to the government of the day. A lot has changed since the Administration of President Bola Ahmed Tinubu (GCFR) and we are positive going forward especially since we have witnessed some of his antecedents as Governor of Lagos State.

Environmental responsibility has to peak, because a lot has been lost in biodiversity terms and out-of-pocket health expenses draining our foreign reserves. Health, safety and environment should be placed on a priority list as time goes on. Harmful Waste Act of 1988, prohibits the carrying, depositing, and dumping of harmful waste in any land and territorial waters of Nigeria. It prohibits and criminalizes activities relating to harmful waste and other related activities, but how well have we fared as a people and nation? How much waste is associated with our production practices and/or are wastes imported into the country in the name of doing business? What should we do to better this narrative? Knowledge is power and this is only clearer as the people saddled with the responsibility are 'any-work' at the very best. Production processes come with significant wastes, and if not well catered to, it becomes penny wise – pound foolish in the long run. We would ensure productivity does not mean more danger to the environment in the stated terms; we employ the government at all levels to sit-up

CONCLUSION

Finally, this will help Nigeria stabilize its growth trajectory, as we are sure the growth, if genuine will be sustained. The country’s balance of payment includes but not limited to these:

- Commercial bank lending;

- Foreign direct investment;

- Bond finance;

- Equity portfolio investment;

The above represents what is expected of/for a balanced economic outlook, and what is your view in what the H.E Bola Ahmed Tinubu (GCFR)'s first letter to the National Assembly in Nigeria to be. We would trade more and not borrow for embezzlement like the last administration did. Clearly, FDIs and equity portfolio investments are lagging behind, and only borrowing and Bonds if well done can be of help. Abacha loot can be a groove when putting to a used (well). But in a personal capacity, I totally disagree, taking the easy way out it is in my view, and that is a very personal view.

Bad enough government as know cannot do without borrowing now for infrastructural development, we are not breaking-even on so many of our SOEs fronts, all are either running failures or failed business ventures, why not privatize them.. Management by accidents or at best, management by wandering around (MBWA), but informal economies can be taxed better; not an arm, and a leg approach being employed. For improvement to be all-encompassing, state-owned enterprises have to be better positioned to make gains to cushion the effects of global economic recession as projected. Businesses (SOEs) are best defined at the following levels:

- The product/service concepts;

- Business model;

- Goals and objectives.

Some effectiveness in the related terms will do us a world of good as African nations, and we would be the champions of these always; the worst is what we hope against, empirical pieces of evidence available to us shows that bad getting worse is the situation of our nation.

Kindly plan with us let us drive the needed change for development to be spread abroad. Appointments and policy mistakes bad for growth/development as we have said, but may the best happen continually, no end in sight seemingly for the economic woos due in part to policy summersaults! The last administration made a mess of our country’s cohesion in a failed state capture proposition. Nigeria finally has a leader some of us can trust due to his antecedents and past-records, as well as

Co-efficient of friction can be useful in economics too, and the debt crisis is coming soon if care is not taken. Coefficient = Expansion/Capacity X Temperature rise, when we substitute values and figures will we get direction? Yes, and soon enough. Not good at all and that is it. Africa is blessed, may God bless us with great leaders going forward.

Analytical|Advisory|Advocacy

Owa Olumayowa Raymond

PRIGEM CONCEPTS LIMITED