Just before the inimitable Pius Adesanmi's painful death and after Ike Chioke had delivered a robust, deeply-researched lecture on Igbo economics at a Centre for Memories event in Enugwu, Chukwuemeka Obinwugo and I had engaged recently in several conversations on the poverty and economy/ics in Igboland and among the Igbo. As an enthusiast in Igbo welfare, I always want to listen to and learn from like-minded Igbo youths who are practicing in the field and engaging with real realities other than just parading figures and speaking fine grammar. Emeka, one of the youngest Igbo entrepreneurs with razor-sharp minds for money swept me off my feet with his exhaustive articulation on Igbo poverty/wealth which is already provoking thoughts and upsetting conventions among enlightened Igbo. I want to share with you, ndị Igbo. Please, read:👇
HOW DO WE ALLEVIATE ỤBỊAM (POVERTY) IN IGBO LAND?
One day I was in main market Ọnịcha with my in-law and looking at the numerous goods and services exhibited in different shops for market and sales. I asked my in-law, "Nwanne, do you know the financial worth of all the goods and services in this market?", he answered "well I wouldn't know, maybe in hundreds of billions". I asked again, "do you know where the bulk of these hundreds of billions go to?" He answered again, "in the pockets of the Igbo traders of course". At that point, I intercepted "No no, the bulk of these hundreds of billions do not end up in the pockets of the Igbo traders in main market but in the pockets of the Chinese manufacturers in China…" and he looked at me in bewilderment. Lol
The fact is that many of us Igbo do not know the cause of our poverty because we are yet to understand how some things work.
According to the research conducted by Ike Chioke (GMD Afrinvest), Nkwo Nnewi makes an annual turnover of $1billion, (about ₦360billion), Ogbete Enugwu makes $500million (about ₦180billion), Arịarịa international market Aba, Abịa makes $3billion (about ₦1.08 trillion), Alaba international market Lagos, $3billion (about ₦1.08 trillion), Computer Village Lagos, $2billion (about ₦720billion), Balogun Market Lagos, $3billion (about ₦1.08 trillion), main market Ọnicha, $3billion (about ₦1.08 trillion). All these markets have one thing in common: they are all Igbo occupied and dominated markets, and therefore when you put all these figures together, you can inductively calculate the annual turnover of the Igbo traders in Nigeria to be about $15.5billion (about N5.4 trillion). Bear in mind that the Nigerian budget for 2018 was about ₦8.612 trillion.
However, as an Igbo person, before your head starts swelling, please quickly look at the following figures too. According to a Nigeria Poverty statistics, the poverty rate in Nigeria south east (Igbo land) is 27.4 percent. What this implies is that if the population of the Igbo people is estimated at 40 million, it means that about 11 million Igbo people in Nigeria are in poverty. Therefore, if an ethnic nationality of 40 million people that makes an annual turnover of $15billion (about ₦5.4 trillion) in Nigeria has a poverty statistics of 11 million poor people in Nigeria, kedụ ndị anyị na-emezili turnover (who are we making the turnover for)?
If you are conversant with cash flow analysis, you will know that in the profit and loss statement, even though turnover is important, the most important factor in a profit and loss statement is "The Net Profit". Common sense will tell you that even if you have a large turnover yet you make very little net profit, it means someone else is making that profit on your head. The Igbo people have a devastating description for such sad situations: "ị na-akwọ aka etili ọkụkọ akị" or "e mepego office n'isi gị".
Kedụzi ndị anyị na-agbalụ mbọ a?
China! 🇨🇳
China, in 2018 made a GDP of $14.172 trillion (nominal; 2019 est.) $27.449 trillion (PPP; 2019 est.). Their GDP rank is 2nd (nominal;2018) 1st (PPP;2018) with the GDP growth of 6.6% (2018). A report by Swiss bank UBS and auditors PwC claimed that China produced billionaires at the rate of two a week in 2017.
Why are all these happening? The answer is simple for the critical mind but complex for the gullible. It is because of "Ajọ Àgwà" (Wrong attitude or actions) which have a lot to do with "Ajọ Echiche" (Wrong way of thinking) and "Ajọ Mmụta" (Wrong process of learning or system of education). These are the foundational factors of the Igbo socio-political and economic backwardness, hence unemployment and poverty in Igbo land and among the Igbo in Nigeria.
According to Michael Potter in his book "Competitive Advantage of Nations" (Harvard business review), "National prosperity is created not inherited. It does not grow out of a country's natural endowments, its labour pool, its interest rate or its currency's 'value' as classical economics insists. A nation's competitiveness depends on the capacity of its industry to innovate and upgrade".
The Igbo people once had a system of Education that was excellently functional for the Igbo society. A system that prepares the young for adulthood; a system that prepared the Igbo man to be critical, creative, innovative and productive in his society, hence killing off unemployment and poverty. But not anymore.
This is how it works: Every human society has always needed to survive, develop and grow. These needs have their foundation on the five (5) basic needs of man:
• Food
• Shelter
• Clothing
• Communication
• Transportation
Among these five (5), three (3) — Food, Shelter, and Clothing are the most basic. When values are created to provide for these needs, employment is created and when these needs are fulfilled to a reasonable extent in any given society, that society is termed to be prosperous. It is in providing for these needs that man activates his "Echiche" (Thinking faculties), engages his "Akọ na Uche" (mindset) and delivers with "Amamife" (Wisdom). In the background of all these activities lies the catalyst which is "Mmụta" (Education) which goes on to influence the way we go about these intellectual, mental and physical activities. Almost all the philosophical, scientific and technological innovations and inventions revolve around these five (5) basic needs of man. The Igbo traditional education system is centered on "Ikè Ụba" (Value Creation) and (Nchekwa Ana) Territorial Preservation.
The question now is how productive are we Igbo people today? Ọ bụ sọọsọ ịzụ afia ka anyị dịzi mma ya? When are we going to advance our economic system from importation of goods to local manufacturing? Yes I know we do not have the enabling environment in Nigeria but we too have not even shown enough WILL to beat the system. The fact is that no one will give the Igbo people an enabling environment, only the Igbo people can create the enabling environment by and for themselves and we can achieve this by resurrecting the ancient values that made our fore fathers prosper and gave them the ability to kill ụbịam in their own time. Ancient Values like "Ọ nụlụ ube nwanne a gbana ọsọ (Communal Love)", "Ikwu amaghị ibe ezi ya (Collaboration)", "Ibu anyị danda" (The Igbo co-prosperity and the cluster concept). These values are highly potent and effective in diluting any anti-Igbo policy created in Nigeria to subjugate the Igbo people.
Today out of the fortune 500 companies, 300 are owned by the Jews. Why? Because they make their money revolve at least 18 times in the Jewish community before it leaves by engaging in production, research & development, and most importantly 'Co-prosperity'.
If we must alleviate Ụbịam (poverty) in Igbo land, then, it is time we critically analyzed and looked at the institutions of human formation in the Igbo society, to know where the Igbo people were in the past, where they are at present and where they are heading to in the future.
Finally, Nwanne, before you start boasting about how many containers ị na-akuchi, na-atụbata, biko ask yourself these critical questions: "kedụ ndị anyị na-agbalụ mbọ a?" "What really is "National economic prosperity"?", "How do we achieve it in the contemporary Igbo Society?"
Daalụ nụ
© *Chukwuemeka Obinwugo* March 10, 2019
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