Copy & Paste: Nigeria Borrows Some Lessons from India [NFTW #38]

What’s good everyone? I hope we’re doing well.

I think for a large part of our lives copying receives bad press. In school, you’re vehemently taught to not copy and to ideate for yourself. I think there’s merit there but I’m not too sure if that’s the whole story.

For a large part copying is actually wisdom. If you see something working—a lifestyle, process, idea then there should be an imperative to implement it into your own context for the benefit of fulfilment and self-actualization. I take this idea quite seriously for myself—I think that’s why I really appreciate the Founders podcast.

Borrowing Lessons from the World’s Largest Democracy

In a similar vein to Chamath I firmly believe that leveraging copy (filtering what’s valuable for you) and paste is a life hack and the modus operandi of life. If it works, it is usually implemented. That after all is the essence of wisdom. I remember being on a call with a prolific Nigerian technology investor and he said that India is a country Nigeria could take a lot of lessons from and that India is roughly 7 years ahead of Nigeria. I wasn’t too sure about this number but I could understand the sentiment.

Nigeria could learn several lessons from India in terms of economic development. The key lessons would be:

• Diversification of Economy: India has managed to diversify its economy by developing a strong services sector, including IT services, software development, and business process outsourcing (BPO). Nigeria, which is largely dependent on oil exports, could learn from India's experience and focus on diversifying its economy by developing other sectors such as agriculture, manufacturing, and services to reduce reliance on a single sector and mitigate risks associated with commodity price volatility.

• Human Capital Development: India has invested significantly in its human capital development by promoting education and skill development. Nigeria can follow suit by prioritizing investments in education, vocational training, and skill development programs to build a skilled workforce that can meet the demands of a changing economy. A well-educated and skilled workforce can drive innovation, entrepreneurship, and productivity, which are essential for economic growth.

• Entrepreneurship and Innovation: India has fostered a culture of entrepreneurship and innovation, with a thriving startup ecosystem that has produced globally recognized companies. Nigeria can learn from India's success and create an enabling environment for entrepreneurship and innovation, including access to capital, supportive policies, and infrastructure. Encouraging and promoting entrepreneurship can create jobs, drive economic growth, and foster innovation.

• Infrastructure Development: India has made significant investments in infrastructure development, including roads, railways, ports, and airports, to support economic growth. Nigeria can prioritize infrastructure development, especially in areas such as power, transportation, and telecommunications, to enhance productivity, attract investments, and facilitate trade and commerce.

• Public-Private Partnerships (PPPs): India has successfully implemented various public-private partnership models to mobilize private sector investments and expertise for infrastructure development, healthcare, and education. Nigeria can learn from India's experience in structuring and implementing PPPs to attract private sector investments and accelerate economic development in critical sectors.

• Inclusive Growth: India has implemented social welfare programs aimed at reducing poverty, improving access to healthcare, and promoting financial inclusion. Nigeria can adopt similar programs to ensure that the benefits of economic growth are shared widely and that vulnerable populations are not left behind.

• Sustainable Development: India has taken steps towards sustainable development by promoting renewable energy, environmental conservation, and climate change mitigation measures. Nigeria can prioritize sustainable development by integrating environmental, social, and governance considerations into its economic policies and practices to ensure long-term economic resilience and inclusive growth.

The Great Escape

First things first, big love to my brother Tris who transferred me some tickets a few hours before The Great Escape album release show. Appreciated my brother. I only came across Larry June last year and while I’m fashioned by the grittiness of East Coast rap—the essence that poured out of his laidback flow was too potent to ignore.

The Great Escape brings together June’s entrepreneurial ethos of health and wealth and Alchemist’s unmatched sonic world-building to create a classic West Coast tape. Having the chance to see Larry June and The Alchemist go back and forth on 60 Days live was a special moment. As an independent rapper who has decided to take the path less travelled it’s encouraging to see Larry June get his props overseas. I’m sure for him as he reflects on his life and looks at his current situation it quite literally is The Great Escape. Good job Larry!

Personal Favourites:

• Turkish Cotton

• Summer Reign (feat Ty Dolla $ign)

• Orange Village

• Barragán Lighting

The Big Four Series - Investing in Kenya

Second edition of The Big Four series is now live on my YouTube channel: Investing in Kenya! In this video I take a look at the economic landscape, public and private markets of Kenya and discuss the nation's viability for investment. If you're interested in learning more about the capital markets landscape on the African continent feel free to check it out.

Until next week. Peace.