Sunday 10 September 2017
The Wisdom in Fifty Economics Classics
By Bayo Ogunmupe
Just published in May,
> the 50 Economics Classics is the latest in the series of
> great books distilled into one volume; written by Tom
> Butler-Bowdon, an accomplished author and literary critic.
> Previously published volumes in the series include 50
> Philosophy Classics; 50 politics Classics; 50 Prosperity
> Classics and 50 Success Classics. Published by Nicholas
> Brealey Publishing, London, 50 Economics Classics is your
> shortcut to the most important ideas on capitalism, finance
> and the world economy.
> In paperback,it has 50
> chapters, 360 pages; seven pages of 50 More Economics
> Classics for those in need of further inquiry; then two
> pages of chronological list of titles; three pages of book
> editions used in researching this book and finally, a page
> of acknowledgements. The 50 Classics series has sold over
> 300,000 copies. This Economics volume is the smart person's
> guide to two centuries of conversation on the global
> economy.
> From Adam Smith's Wealth
> of Nations to Thomas Piketty's best selling Capital in the
> Twenty First century, here are the great bards, seminal
> ideas and texts clarified and illuminated for
> all. This book is all the more relevant, coming as it did in
> Nigeria's period of economic turmoil and depression.
> Economics may drive the modern world but sadly, we lack the
> knowledge of the ideas, thinkers and writings which
> constitute the discipline.
> Spanning 50 books,
> hundreds of ideas and two centuries in time, 50 Economics
> Classics is an enquirer's guide to the global economy;
> taking you on a journey from the Industrial Revolution to
> the second machine age of the internet and artificial
> intelligence. This is neither a history nor an encyclopedia
> of economics. This is only a guide to the great thinkers and
> their seminal ideas old and new.
> When in 1765, Edmund
> Burke (1729- 1797) said: "The age of Chivalry is gone; that
> of sophisters, economists and calculators has succeeded," he
> was right that economics, finance and money are at the
> heart of modern civilization; in the way honor, chivalry and
> religion were to the Middle Ages. If in the past, a person's
> fate was settled by the social circumstances of his birth,
> today each of us is at the mercy of economics, for we must
> produce things of market value if we are to survive and
> thrive. "All your life," Economist Paul Samuelson said,
> "from cradle to grave and beyond- you will run up against
> the brutal truths of economics."
> The importance of
> economics is that it is at the root of human prosperity. If
> voting gives freedom and power in theory; in practice it
> means little if we cannot even sustain ourselves and our
> families. Which is why cracking the code of economic
> prosperity for a person, firm or nation is crucial to peace
> and well-being of the people. Fifty Economics Classics gives
> you the knowledge to make you prosperous as a person or
> nation. John Maynard Keynes, the creator of the Keynesian
> economic superstructure, thought economics was built so we
> could enjoy the good things in life.
> To Keynes, this was only
> possible with a stable and growing economy in which the
> damaging cycles of boom and bust were ironed out.
> Economists, Keynes said, are the trustees, not of
> civilization but of the possibility of civilization. The
> economist Hyman Minsky warned that, unless it is well
> regulated, capitalism will eventually go to extremes and
> produce instability. He went on to say that only an
> economics that is critical of capitalism can be a guide to
> successful policy making. Until economic policy stops being
> a tool for one group's advantage, it will be hard for
> capitalism to fully realize its goal of increasing the
> well-being of all.
> This book by Tom
> Butler-Bowdon is a terrific compendium of the greatest books
> ever written on finance, economics and prosperity from
> famous classics to the hidden; distilled to the point of
> poignant clarity. Tom was the one who announced to the world
> in 50 Prosperity Classics the arrival of Donald Trump on the
> world stage as the 47th greatest thinker on prosperity. And
> by his victory as the 45th president of the United States
> Trump validated Tom's foresight.
> The only African writer
> on the pack is Liaquat Ahamed, author of The Lords of
> Finance. In 2010, the chairman of the US Federal Reserve
> Bank, Ben Bernanke, was asked by the Financial Crisis
> Inquiry Commission what books he would recommend to
> understand the crisis. He mentioned just one, Lords of
> Finance, a work of economic history which won the Pulitzer
> prize in the same year.
> Then Federal Reserve
> Bank's investment adviser, Liaquat Ahamed first had the idea
> for his book when reading a 1999 Time magazine story on the
> Committee to save the World and its successful efforts of
> Alan Greenspan, then Federal Reserve Bank chairman to stave
> off the Asian financial crisis, which threatened to bring
> down the global economy.
> In a nutshell, Lords of
> Finance says, fixed ideas in economics can have disastrous
> results. The world hung onto the gold standard long after it
> had stopped being a means of creating stability and growth
> in the world. Born in Kenya, Ahamed studied economics in
> Cambridge, UK and Harvard, United States. He became
> economist to the World Bank before becoming the chief
> executive of a New York firm of economists.
> For the author, Butler-Bowdon is
> most notable for the 50 Classics series, which provide
> key commentaries on the world of knowledge. An Australian by
> birth, Tom, Acting President of Nigeria Yemi Osinbajo and I
> did graduate work at the London School of Economics. While
> Tom researched on public policy, Yemi did his own in the law
> of evidence and i did mine in public finance. Tom gained
> experience while advising various Australian prime
> ministers. It was in the course of his job that he
> discovered the need for the Classics series. He sent me the
> book shortly before it was published last May. I recommend
> the book for the Aso Villa economic management group.
>
Ex-Nigerian leader Obasanjo urges Togo change
Culled from BBC
Anti-government protests have continued in Togo for a third day, with clashes between opposition supporters and police.
Anti-government protests have continued in Togo for a third day, with clashes between opposition supporters and police.
The opposition wants President Faure Gnassingbe to step down after 12 years in power. He succeeded his father who governed for 38 years.
Nigeria's former President Olusegun Obasanjo spoke to the BBC's Peter Okwoche about the crisis and questioned whether President Gnassingbe had anything new to offer.
Hurricane Irma: Florida braces for storm arrival
Culled from BBC
Hurricane force wind gusts are battering islands in Florida's south, the governor says, with the mainland due to be hit in the coming hours.
Water levels are already rising on the coast of the US state where a huge storm surge is expected.
At least 25 people died when Irma earlier hit several Caribbean islands.
In Florida, 6.3 million people - about 30% of the state's population - had been told to evacuate. But on Saturday, the state governor said it was now too late to leave for anyone remaining.
The National Hurricane Center has issued warnings against "life-threatening" storm surges in the Florida Keys - a chain of small islands in Florida's south - as well as Tampa Bay and other coastal areas.
- Staying behind is 'almost like suicide'
- 'I have never been so scared in my life'
- The deadly danger from Miami's cranes
- Hurricane Irma: A visual guide
More than 200,000 homes in the state have been affected by power outages, with 164,000 outages in Miami Dade county alone, according to utilities companyFlorida Power & Light.
The imperatives of attracting investment
By Bayo Ogunmupe
Economists are unanimous that local and foreign direct investment are a key factor in driving a nation's economic growth. Investment is particularly needed to complement economic growth and in the transfer of appropriate technology, the transfer of knowledge and access to foreign markets. Moreover, every level of investment is necessary for boosting employment, reducing inflation and in augmenting food production and in improving the living standard of the people.
For instance, Singapore, an inconsequential British colony with a population of 1.6 million in 1960, transformed itself to one of the richest nations in the world through attracting foreign investment to itself. Therefore any country seeking economic prosperity must attract investment to prosper. Central to Nigeria's ability to attract investment is ease of doing business in the country. That was why as Acting President, Professor Yemi Osinbajo issued an Ease of Doing Business Presidential Order to facilitate improvements in our investment portfolio.
Indeed, fostering the ideals of ease of Doing Business enhances our infrastructure, access to raw materials, communication and transportation links and the acquisition of relevant technological skills. Also crucial to attracting foreign investment are the upholding of the rule of law, an end to impunity; part of which consists of a robust and independent judiciary, impartial and prompt adjudication of disputes. Beside being the prerequisite for attracting investment, these statutory practices are the preconditions for sustainable growth in any society.
Unfortunately, we are not doing well on these scores. More so, we can only boast of dilapidated infrastructure, insecurity due to periodic agitation for self determination here and there. Though our huge population promises us much investment; which is why investors can overlook these disabilities. But investors are unwilling to accept our culture of impunity for which we are notorious. It has become our character to illegally terminate agreements, contracts and projects without compensation.
That unruly behaviour has not ended even with the return of democracy. One example of bad faith was an attempt by the National Assembly to illegally and unilaterally amend the Nigerian Liquefied Natural Gas (NLNG) Act to force it to remit three percent of its yearly budget as funding to the Niger Delta Development Commission (NDDC). This is expressly contrary to the contract agreement freely entered into by Nigeria, the NLNG and other stakeholders covered by the Bilateral Agreement Treaties with France, the Netherlands and the United Kingdom. Nigeria had agreed to retain fiscal and security regimes of the investment agreement, not to amend the NLNG Act without express agreement of the other stakeholders.
The NDDC traversed the courts right up to the Supreme Court seeking to compel NLNG to pay the levy, only for the courts to affirm the right of NLNG not to pay the levy. Apart from large scale looting, this is another atrocity of the Goodluck Jonathan regime. Like in all cases with Nigerian politicians and cohorts with special interests, they attempted thwarting the court judgment by rushing to amend the NLNG Act thereby endangering the continued survival of the NLNG and the flow of future foreign investment to Nigeria.
Regrettably, it is often the case in Nigeria that once investors begin to flourish, Nigerian governments and her regulators begin to heckle these businesses, through seeking to extort money or subject them to hurriedly enacted laws and regulations in the name of protecting Nigeria's national interest. This greedy behaviour scares away investors. Yet the sing song of every Nigerian government , that are known to travel to the ends of the earth is to solicit for foreign investment.
In the days of yore, when Nigeria could rely on oil revenue, we could call the bluff of investors, but now with low oil prices, Nigeria will do herself a world of good by removing all the impediments to local and foreign investment. Another poor economic judgment from the Buhari administration is the US $3 billion loan taken by the Federal Government. Recently, Finance minister, Kemi Adeosun disclosed that Nigeria plans to refinance $3 billion treasury bills in order to improve Nigeria's debt profile.
Adeosun said the government wants to refinance her maturing short term treasury bills with dollar borrowing of up to three years' maturity. The minister said it is the plan to restructure the debt portfolio into longer term maturities by borrowing more offshore and less at home. This she said, will support private sector access to credit to boost the economy. However, data from the Debt Management Office (DMO) show that the Federal Government of Nigeria (FGN) has N3.6 trillion outstanding treasury bills as well as N8.1 trillion bonds.
Servicing these loans cost the FGN 15 percent of her budget per year. According to the DMO, the FGN has spent N449 billion as interest payments in servicing these debts in the first quarter of 2017. Thus, $3 billion that would be raised, is hoped to boost dollar liquidity by raising our external reserves, strengthening the capacity of the Central Bank to support the naira. It is also hoped to reduce the cost of borrowing as less demand for domestic debt will lead to lower interest rates.
This economic adventure is untenable in public finance. For the dollar debt service in the same period, FGN paid $127 million according to the DMO. It is expected that such loans should be linked to the building of infrastructure. Mexico's tequila crisis is an example of the dangers of borrowing to pay foreign exchange spending. Like we're doing now, Mexico borrowed to buy foreign luxury goods. But when the US Federal Reserve chairman, Alan Greenspan raised interest rates in 1994, the boom for Mexico came to an abrupt end. In spite of attempts to devalue the peso, Mexico's currency crashed by more than 70 percent.
It was the International Monetary Fund that came to bail Mexico out. Even then, Mexico"s economy continues to be on the brink of collapse till today. With an uncertain economic future; without a professional economic team to shepherd the Nigerian economy, this plan to plunge Nigeria deeper into debt should be scrapped. We are well advised to listen to the World Bank that warned the CBN from borrowing to fund our budget and import luxury goods. Borrowing dollars to buy cars for our ministers and legislators isn't the right economic option for us now. It can only lead us further into depression.
Borrowing to import goods for the rich exacerbates inequality. And inequality makes it harder for economies to benefit from innovation. However, if people have access to credit it can offset the effect. Inequality is preventing people with less income from reaching their potential in terms of education, creativity and invention. There is also less entrepreneurship. Inequality shrinks market for new goods. When incomes are more equal among people, people less well off buy more.
Having a large market for new products enables companies to create new goods to sell. This boosts national growth and prosperity. When wealth is concentrated among a small group of people, it increases demand for imported luxuries. In contrast, distributed incomes means more mass produced goods are manufactured locally. But reducing trade and innovation will only make everybody poorer. Giving people access to credit is the panacea for prosperity. Providing access to credit is an unfailing means of stimulating growth. Hopping towards full employment, growing food locally through easy credit is the way forward for Nigeria, not borrowing dollars to import luxury goods.
The slaughter's slab as metaphor
By Bayo Ogunmupe
The slaughter's slab as a metaphor is the title of a book arising from an inaugural lecture given at the University of Lagos in March by Professor Lai Olurode, a professor of sociology at the university. It was published this year by the University of Lagos Press. It contains 25 chapters, a table of recommendations on election violence reduction strategies in Nigeria. The book is dedicated to five victims of political assassination.
Those victims are Chief Bola Ige, then Attorney General and minister of Justice, killed on 23 December 2001; Barrister Barnabas Igwe, then the President of the nigerian bar Association, Anambra branch, killed 1st September, 2002; Chief Marshall Harry, former All Nigeria Peoples Party vice chairman-5 March 2003; Chief Funsho Williams, Lagos State governorship aspirant-27 July 2006 and Malam Abdullahi Munkaila, then resident electoral commissioner in Kano state,he, his wife and children were killed on 3 April 2015.
The title, the metaphor of the slaughter's slab arose from Olurode's efforts to explain to his illiterate mother, the course of study for which he was admitted at the university of Lagos in 1976. Olurode enrolled to study political science. Explaining that to his mother was a herculean task for she was perplexed that her son would be pursuing a profession whose practitioners are reputed for causing public assault, arson, mayhem and brigandage.
The memories of the political crisis in Western Region remained indelible for most people of her age. To mama, political scientists and politicians are birds of the same feather that must flock together. That perhaps influenced Olurode from changing his course to sociology in his second year. But mama Olurode's fears have been justified by the appointment of Olurode as an electoral commissioner by former President Goodluck Jonathan.
Though his mother wasn't at ease until the end of his tenure. But mama was vindicated by the murder of Abdullahi Munkaila and his family while working as the resident electoral commissioner for kano state in 2015. Munkaila's blood is now haunting his killers. Professor Olurode's autobiographical booklet has 74 pages and six pages of tributes. In his introduction, the author avers that the pursuit of happiness and prosperity as the primary goal of human life. And pursuant to these goals, the Nigerian Constitution avow that Nigeria shall be a state based on democracy and social justice and that security and social welfare shall be the primary purpose of government.
Indeed, the thirst for vast territories was not just for fame, glory or nationalism but motivated by the economic objective of prosperity. Accordingly, the sociology of today's world, Olurode finds four sociological explanations for the current crisis in the world. One, the world is in turmoil because of the growing social inequality due to injustice between and within nations. New technology is enlarging inequality.
Two, the prevalence of insecurity around the globe, acts of terrorism,violence and risky migratory behaviour which engager lives and freedom. Three, dogma, social prejudice and discrimination are sources of concern for the world. Moreover, we have enthroned money as the ultimate power. The love of money for vanity has eaten deep into the fabric of society. As an expression of inequality- life expectancy in Nigeria is 54 years, the lowest in the world; whereas, it is 80 years in Norway.
From his experience as a retired electoral commissioner and professor of sociology, Olurode gives the following recommendations to reduce violence during elections. One, Nigeria's rural sector should be activated through poverty reduction. Two, we must make concerted efforts at mobilizing the people through the national orientation education. Three, we must curb acts of impunity: politicians must be punished for flouting party as well as electoral rules. Finally, cost of elections must be reduced. Elections are too expensive in nigeria which is why contests are a do or die affair. The courts and the election commissions should liberalize election regulations.
Sunday 23 July 2017
William and Harry regret last 'rushed' call with Diana
Prince William and Prince Harry have spoken of their regret that their last conversation with their mother was a "desperately rushed" phone call.
Prince Harry, who was 12 when Princess Diana died, said: "All I do remember is probably regretting for the rest of my life how short the phone call was."
In an ITV documentary to mark 20 years since their mother's death, the princes also spoke of her "fun" parenting.
Diana encouraged them to be "naughty" and smuggled them sweets, they said.
The princes added that she was a "total kid through and through", who understood the "real life outside of palace walls".
New Bill to limit Trump powers over Russia
Leaders of both parties in the US Congress have agreed on legislation that allows fresh sanctions to punish Russia for alleged election meddling.
The new legislation would also sharply limit President Donald Trump's ability to lift any sanctions against Russia.
He has previously said he needs diplomatic leeway with the Kremlin.
Mr Trump's time in office has been dogged by claims that Russia tried to influence last year's US election.
Moscow denies any wrongdoing but several US investigations are looking into whether anyone in the Trump campaign colluded with Russian officials.
Correspondents say the bipartisan agreement indicates determination in Congress to maintain a firm line against Russia, whatever Mr Trump's view.
The Wisdom in Fifty Economics Classics
By Bayo Ogunmupe
Just published in May, the 50 Economics Classics is the latest in the series of great books distilled into one volume; written by Tom Butler-Bowdon, an accomplished author and literary critic. Previously published volumes in the series include 50 Philosophy Classics; 50 politics Classics; 50 Prosperity Classics and 50 Success Classics. Published by Nicholas Brealey Publishing, London, 50 Economics Classics is your shortcut to the most important ideas on capitalism, finance and the world economy.
In paperback,it has 50 chapters, 360 pages; seven pages of 50 More Economics Classics for those in need of further inquiry; then two pages of chronological list of titles; three pages of book editions used in researching this book and finally, a page of acknowledgements. The 50 Classics series has sold over 300,000 copies. This Economics volume is the smart person's guide to two centuries of conversation on the global economy.
From Adam Smith's Wealth of Nations to Thomas Piketty's best selling Capital in the Twenty First century, here are the great bards, seminal ideas and texts clarified and illuminated for all. This book is all the more relevant, coming as it did in Nigeria's period of economic turmoil and depression. Economics may drive the modern world but sadly, we lack the knowledge of the ideas, thinkers and writings which constitute the discipline.
Spanning 50 books, hundreds of ideas and two centuries in time, 50 Economics Classics is an enquirer's guide to the global economy; taking you on a journey from the Industrial Revolution to the second machine age of the internet and artificial intelligence. This is neither a history nor an encyclopedia of economics. This is only a guide to the great thinkers and their seminal ideas old and new.
When in 1765, Edmund Burke (1729- 1797) said: "The age of Chivalry is gone; that of sophisters, economists and calculators has succeeded," he was right that economics, finance and money are at the heart of modern civilization; in the way honor, chivalry and religion were to the Middle Ages. If in the past, a person's fate was settled by the social circumstances of his birth, today each of us is at the mercy of economics, for we must produce things of market value if we are to survive and thrive. "All your life," Economist Paul Samuelson said, "from cradle to grave and beyond- you will run up against the brutal truths of economics."
The importance of economics is that it is at the root of human prosperity. If voting gives freedom and power in theory; in practice it means little if we cannot even sustain ourselves and our families. Which is why cracking the code of economic prosperity for a person, firm or nation is crucial to peace and well-being of the people. Fifty Economics Classics gives you the knowledge to make you prosperous as a person or nation. John Maynard Keynes, the creator of the Keynesian economic superstructure, thought economics was built so we could enjoy the good things in life.
To Keynes, this was only possible with a stable and growing economy in which the damaging cycles of boom and bust were ironed out. Economists, Keynes said, are the trustees, not of civilization but of the possibility of civilization. The economist Hyman Minsky warned that, unless it is well regulated, capitalism will eventually go to extremes and produce instability. He went on to say that only an economics that is critical of capitalism can be a guide to successful policy making. Until economic policy stops being a tool for one group's advantage, it will be hard for capitalism to fully realize its goal of increasing the well-being of all.
This book by Tom Butler-Bowdon is a terrific compendium of the greatest books ever written on finance, economics and prosperity from famous classics to the hidden; distilled to the point of poignant clarity. Tom was the one who announced to the world in 50 Prosperity Classics the arrival of Donald Trump on the world stage as the 47th greatest thinker on prosperity. And by his victory as the 45th president of the United States Trump validated Tom's foresight.
The only African writer on the pack is Liaquat Ahamed, author of The Lords of Finance. In 2010, the chairman of the US Federal Reserve Bank, Ben Bernanke, was asked by the Financial Crisis Inquiry Commission what books he would recommend to understand the crisis. He mentioned just one, Lords of Finance, a work of economic history which won the Pulitzer prize in the same year.
Then Federal Reserve Bank's investment adviser, Liaquat Ahamed first had the idea for his book when reading a 1999 Time magazine story on the Committee to save the World and its successful efforts of Alan Greenspan, then Federal Reserve Bank chairman to stave off the Asian financial crisis, which threatened to bring down the global economy.
In a nutshell, Lords of Finance says, fixed ideas in economics can have disastrous results. The world hung onto the gold standard long after it had stopped being a means of creating stability and growth in the world. Born in Kenya, Ahamed studied economics in Cambridge, UK and Harvard, United States. He became economist to the World Bank before becoming the chief executive of a New York firm of economists.
For the author, Butler-Bowdon is most notable for the 50 Classics series, which provide key commentaries on the world of knowledge. An Australian by birth, Tom, Acting President of Nigeria Yemi Osinbajo and I did graduate work at the London School of Economics. While Tom researched on public policy, Yemi did his own in the law of evidence and i did mine in public finance. Tom gained experience while advising various Australian prime ministers. It was in the course of his job that he discovered the need for the Classics series. He sent me the book shortly before it was published last May. I recommend the book for the Aso Villa economic management group.
Never too late to be great
By Bayo Ogunmupe
This title was taken from the best selling book of my friend, Tom Butler-Bowdon. The book is titled: Why it's never too late to be great. There are three main freedoms linked to achieving greatness in life. They are, one, bravery: fear holds us back. It prevents us from becoming the person we were destined to be. The key to freeing yourself from fear is knowledge. Knowledge dispels fear. If we have the right kind of knowledge, we can change our outlook from fear, to one of fearlessness.
You can improve your karma through helping others. Another key to rising from your limitations of our ever changing environment is physically leaving your environment; since we may be redeemed from service rather than striving to become environment compliant or carrying the negative state of mind. Note that fearlessness should never be confused with foolishness or foolhardiness. There is nothing fearful about taking good care of yourself or taking necessary steps and precautions about your safety and well-beig. Bravery could in fact hardly be more different from being foolhardy- being, as it is, a key step on the path of wisdom.
Two, love is much more than the emotion which many people think of as love. It is described by the angels as the natural energy, greater than the mind. Moreover, it is the state of man's whole being. We cannot experience this kind of love as ordinary mortals; this is love at its highest sense- until we have a degree of bravery, and as this love grows; it will in turn spur us onwards to ever greater degrees of bravery; gaining greater courage to help others.
The third freedom is service. Service is described as love in action. If we have real, deep and genuine love for others, we will want to help them. And if we really want to help others, we will get the opportunity to do so. Service also requires bravery; of course, service is indeed the best possible application of bravery. And the more service you perform, the better your karma will be; which will in turn make you braver still. Also it will give you greater understanding of, and mastery of the wonderful power of love.
These three freedoms lead to the fourth, the freedom of enlightenment. They empower you to attain your heart's desire at any stage of your earthly existence. These freedoms empowered Donald Trump at 70 years, to become the oldest and richest person to ever become the president of the United States of America. "Do not be conformed to this world, but be transformed by the renewing of your mind," Romans 12:2. Sometimes we try to excuse our negativity by saying, "It was just a thought, it didn't mean anything."
But thoughts matter. Thought is the seed of action. A wrong thought left to roam around your mind can take root and grow into what the Bible calls a "stronghold." And when a thought becomes that strong, it begins to control your outlook, your attitude, your mindset and your actions. Where the mind goes, the man follows. You are never too old to be great. So never allow yourself to think negatively, for as a man thinketh in his heart, so is he. Negative thinking prepares you for defeat. Devote yourself to a calling. Donald Trump, 47th world greatest prosperity thinker in the world thought politicians mismanaged America. He believed politicians deliberately caused poverty in America so as to make themselves indispensable. So instead of voting money for charity, he used his money to fight poverty by going into politics. William Wilberforce did the same thing. He devoted himself seeing slavery eradicated in Britain. So discover and follow your calling. It is never too late to be great.
Thursday 6 July 2017
Creating and manifesting your vision
By Bayo Ogunmupe
As we approach the halfway point of this year 2017, it is a great opportunity to evaluate progress toward your goals and your vision. Are you clear on what you actually want to accomplish this year? Try putting all your energy into it. Try taking the right steps to create and manifest your goals into reality. Taking action is the lodestar of any achievement.
First of all, you must be clear on what you want to achieve. The clearer you are about what it is you want, the easier you will be able to achieve it. If you are not sure what it is you want, think about what could boost your self esteem as the goal of your vision. Research has proven that those who write down their goals are more likely to achieve them. Write down what you want to achieve, how you want to act and what you need to do in order to make it happen.
Then, you prioritize to get things done. It is easy to squander your time and energy across multiple projects. It is wrong to multitask, for best results, prioritize what you want to achieve: in order from most to least important. Then, throughout the year, ensure that your energy and focus is on those goals at the top of your list.
Create a vision, use images that represent your cherished ambition, enhance your winning skill by creating your vision board or mastermind group. Ensure that your image makes you feel connected to your vision, so rather than using literal images, you are using ones that give you the feeling you want to create. Place your vision where you will see it everyday. And take the time to visualize yourself doing and achieving all that you imagine.
However, taking action is the ultimate force. As much as the Almighty, the angels and the spirits of your ancestors are ready to work with you to manifest your goal; you cannot rely on yourself alone to get the job done. When you take action, you increase the momentum towards what you desire, which allows the angels to orchestrate even better outcomes or results for you.
And believing in yourself is crucial to your success. This is one of the most important things you can do. By confidently believing in yourself; you are capable of achieving whatever you put your heart and mind to. Remember that the more you believe, the more you achieve. What can hold you back is the one lie we learned when we were younger.
This lie many of us still hold on to until the bitter end. The idea of starting all over being a bad thing is baked right into the fabric of our society and its educational system. We send our children to the university at 18; telling them to choose the career they will be happy with for the next 40 years. In most cases they choose wrongly.
Over the years however, through bouts of hardship and failure you learn the truth through experience. Then you change, sometimes you start all over again. You have learned your lessons. You can always change paths anytime you want to. Indeed, starting all over again is always feasible. And often it is a pretty darn good choice too. This is better than being stuck with a lifelong career you naively chose when you were a teenager.
The truth is no one wins a game of chess by one only moving forward. Sometimes you have to move backward to put yourself in a position to win. This is a perfect metaphor for life. Sometimes when it feels like you are running into one dead end after another. Actually, this is a sign you are not on the right path.
Maybe, you were meant to hang a left back when you took a right. Life gradually teaches you that U turns are allowed. So turn around when you must. There is a big difference between giving up and starting over in the right direction. There are three words that can release you from your past mistakes and regrets; and get you back on track. These words are: "From now on..." So from now on what should you do?
It is anything no matter how small. As long as you are not just sitting idle, strapped down to a destiny that isn't yours. If you mess it up, start all over again. Try something else. Let go of the past, grow into a new order. One of the hardest lessons in life is letting go. But letting go is the healthiest path forward.
Letting go clears out toxic thoughts. It paves the way to your making the most positive use of the present. You have to emotionally free yourself from the things that once meant a lot to you, so you can move beyond the past and the pain it brings you. Then you refocus and move forward to gain your goals in life. Letting go is changing your attitude about your past and present goals. Thinking better takes guidance and practice. Which is why thinking smart, thinking creatively are the hallmarks of creative problem solving.
Adventures in university governance
By Bayo Ogunmupe
'I smell a rat, Adventures in University Governance' is the title of Professor Biyi Afonja's book on his experience as a university teacher and administrator. Written in a lucid and captivating language, 'I smell a rat' chronicles the pro-chancellor's exciting experience in the governance of three universities: the Obafemi Awolowo University, the University of Ibadan and Olabisi Onabanjo University. Afonja's stint as Commissioner of Education in Western Nigeria provided him with useful enlightenment on nigeria's educational system.
Apart from being the chair of the governing council of Tai Solarin College of Education (now Tai Solarin University of Education) Afonja had also functioned as the pro-chancellor and chairman of Olabisi Onabanjo University. The richness of diversity of his experience in educational management is without parallel among Nigerian educators of his time. The breath and intimacy of his experience were helpful in coping with the challenges of leadership which ultimately faced kindred tertiary institutions in Nigeria.
In his award winning book: In His hands, The Autobiography of a nigerian Village Boy, published in 2005, Professor Afonja said that "The story of my service as chairman of the Ogun State College of Education and as Pro-chancellor and chairman of Council of Olabisi Onabanjo University will, by God's grace, be told in a separate publication on my contributions to the governance of higher institutions in Nigeria." I smell a rat was written in fulfillment of that promise. This book is a case study in education administration in Nigeria. Which was why he tried to back up his statements in it with incontrovertible documentary evidence.
Adventures in University governance is in paperback, has 348 pages; 67 pages of appendices and nine pages of index. It has 12 chapters. Afonja's unforgettable experiences as a lecturer at the University of Ife, as OAU was called then, made fascinating reading. In 1963, the Midwestern Region was created from Western Region. Following the restructuring of Nigeria from four regions to a twelve state system in 1975, each region was split into several states. That made regional universities to be taken over by the federal government.
The name of the University of Northern Nigeria was changed to Ahmadu Bello University- in honour of Sir Ahmadu Bello, the first premier of Northern Nigeria. Ife, Nsukka retained their founding names. It was in 1987 that Ife was changed to Obafemi Awolowo University following the death of Chief Obafemi Awolowo, the first premier of Western Nigeria. Further restructuring took place leading in 1996 to Nigeria's present day 36 states. The then Western state was split into the present five states of Ekiti, Ogun, Ondo, Osun and Oyo.
Right now, nigeria has two categories of universities namely, public universities and private universities. Public universities are those owned by the states and the federal government. Federal universities are those acquired by it from the regions in the 1970s and those it has built since then. Going by the rate universities are being created, their numbers by the end of the new millennium would be in hundreds. As at March 2016, there are 141 universities in Nigeria, made up of 40 federal, 40 state and 61 private universities.
At the top of public university governance is the Visitor who is the founder or proprietor. At federal universities the Visitor is the President. In the case of a state university, the visitor is the Governor of the state. As the chief security officer of the university, the power of the visitor is limitless. The decisions of the visitor are binding and can only be challenged in a law court. In private universities, the Board Of Trustees (BOT) acts in most policy matters on behalf of the proprietor. The president of the board and other members are appointed by the proprietor.
In governance hierarchy the BOT lies between the University Council and the Proprietor. While most universities in Nigeria use Vice Chancellor for the chief executive, some private universities use President as its title like in American universities. The senate comprising professors constitute the academic soul of the university. It handles every matter pertaining to the academic activities of the university.
Afonja's adventure into university governance started at Unife where he was elected into the senate in 1971 and into the Council in 1973. Both the senate and the Council are the topmost organs of the university. According to Afonja, Obafemi Awolowo University was founded via a memorandum presented to the Executive Council of Western Region on 24 October, 1960 by Chief Samuel Ladoke Akintola, the premier. In the memorandum Akintola suggested "that the university be sited at or near Ife, that its name be Ife University, Nigeria." The university was formally established in 1962. It later excelled in law, pharmacy and agriculture.
This book's author, Biyi Afonja joined OAU as a lecturer in the Faculty of Agriculture in 1966, coming from the Federal Department of Agricultural Research, Moor Plantation, Ibadan where he was senior research officer. Hardly had he settled down at Ife than he was headlong drawn into the university politics whereby he was elected into the university senate by the Congregation of the university. He contested in order to achieve his personal goal of the 3Ls; of what a university ought to be: a place of Light; of Liberty, and of Learning; as was prescribed by the former British prime minister, Benjamin Disraeli.
Afonja's unforgettable experience at OAU senate was chronicled in his autobiography. thereafter, he settled into the monthly senate meetings lasting into ten gruelling hours. He found the exposure most helpful in his later assignment as the pro-chancellor and the chairman of the Council, Ogun State University, now Olabisi Onabanjo University. Luckily, just before the expiration of his 2 year term as a member of senate, he was rewarded with a promotion to the university council the highest level of university governance. Afonja's tenure as a member of OAU Council was abruptly terminated by his appointment as the Commissioner for Education, Western Nigeria i September 1973.
He stayed for only 18 months as Commissioner. His tenure gave him further insight into policy formulation and implementation. For example, it was at that time government was cancelling the two year Higher School Certificate (HSC) system. The course was transferred to a one year course at the Ibadan Polytechnic, which was to prepare students for entry into the University of Ife. However, the Polytechnic, the OAU, the teachers' unions; the parents' associations; and the proprietors have to agree.
Government directed the institutions to work out the modalities. But the stakeholders disagreed with the policy. It turned out that Afonja had to implement a policy opposed by the proprietors, his officials, the religious bodies and the unions. Afonja refused to budge knowing fully well the stand of the governor and his own conviction that their decision was right. For being offered a readership by the University of Ibadan, Afonja left the cabinet of Brigadier Oluwole Rotimi in 1974.
For returning to academics instead of clinging to the more luscious public office as commissioner, Afonja was named guest of honour at Premier Hotel, Ibadan by the Conference of Principals in May 1975. He returned to teaching as Acting Head of the Department of Statistics, University of Ibadan. Thereafter, he became chairman of council, Tai Solarin College of Education in Ogun State. His divinely inspired forebodings were helpful in coping with the challenges of leadership in the institutions he chaired. Moreover, his experience was a facilitating factor informing his decision to voluntarily quit the stage at various times during his public service.
Events following his exits were suggestive of having had a sniff of something in the air, which gave rise to 'I smell a rat' as being part of the title of this book. Biyi Afonja is a retired professor of statistics. he was educated at Government College Ibadan; the University of Ibadan, the university of Aberdeen, Scotland and the University of Wisconsin,USA. He is a fellow and past president of Nigerian Statistical Association. He was also pro-chancellor and chairman of council, Olabisi Onabanjo University. He was once the chairman of the Committee of Pro-Chancellors of State Universities in Nigeria. Married with children, Afonja is glowing in a graceful old age at his home, Ogun state.
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