Samuel-Biyi
@samuel_biyi
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Builder @ Hacked Ventures | Entrepreneur @suregifts , @get_busha | Doctoral Candidate @IEBusiness | Alum @LSENews @cheveningFCO | Faculty @Hult_Business .
Lagos | London
Joined May 2009
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어린이날
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こどもの日
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マリカ杯
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So you mean no ribbon-cutting ceremony to commission this new helpline? You just launched it??
#EndSARS
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So, I promised to review the Nigerian budget and point out 100 agencies that are useless and need to be scrapped. I've spent over 4 hours going line by line and I can't. The whole budget is a scam and I'll shred my passport in the end if I continue.
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It’s nearly been a year now since the president took over, having gotten rid of the Western exploiters. Would love to read a summary of the developments he’s set in motion in Burkina Faso.
“My generation does not understand this: how can Africa, which has so much wealth, become the poorest continent in the world today?” - Ibrahim Traore, President of Burkina Faso
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Imagine moving around Nigeria without fear of police harassment? Huge huge difference. A life I've never known.
#SARSMUSTEND
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Q1 2023 Ojuelegba bridge container update didn’t take too long. The single test for whether or not a society can function, is if they can stop metal box from crushing people once a quarter over a 10 year period.
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A two-children policy should be on the table till this poverty crisis is addressed.
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We should cancel CRK & Islamic studies. 2 full days of the week already committed to that. Replace with classes that can address our biggest weaknesses:
- Human rights
- Environment
- Social etiquette
- Logic (+ logical fallacies)
Nigerians really struggle in these areas..
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Based on this survey, about a third of young Nigerians were inspired to flee the country by the Nigerian Police (sometimes referred to as “few bad eggs”).
People who left Nigeria, what was the thing that made you finally decide to leave?
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If you want to lose weight quickly, here's the link for 2018 . Click on 2018 Approved Budget Details.
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When the money man asks you for Jumia-type ambitions, ask for Jumia-sized cheques! Raised <$450k (@ N200:1) in capital for SureGifts in 5 years, a third of which is in Notes. It's tight on the streets, but it's possible with a lot of grit and creativity. I'll share a few lessons:
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Tradermoni, marketmoni, farmermoni...
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As our new
@cenbank
governor
@DrYemiCardoso
settles into the very difficult task of getting the country back on track, I'd like to express a few hopes.
This time 5 years ago, the CBN was at the early stages of what has been a very adversarial relationship with the then nascent…
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Look at this Nigerian Stored Products Research Institute or this Federal College of Agricultural Produce Technology with a combined budget of N9bn. I guarantee you that all they do there is buy bread & beans all day.
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I hear stats like “1/3 of French homes powered by uranium from Niger, but 80% of people in Niger don’t have electricity”. HOW is it France’s fault that Africa is too stupid to utilise its own resources?
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Bullshittu's ministry ONLY builds computer centers here and there, even the Nigerian Communications Sattelite agency has 250m for provision of 250 desktop computers "for the purpose of conducting JAMB". What's their business with JAMB for God's sake?
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Meanwhile, entitlements of former Presidents, VPs and their chief of staff = N7.3bn. They can't be more than 50 people combined taking up almost the entire budget of the University of Ilorin. Criminals.
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Our beloved Code of Conduct Tribunal wants to furnish office for N221m and build new office with 154m. Code of Conduct Bureau say they need 500m for governance reform and 500m fo digitization of operations, and someone approved it when the airport is smelling.
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You have the headquarters of one National Board of Arabic and Islamic Studies with N4bn, about the same budget as a whole Yabatech. 60% of the budget of the agencies under the Education ministry is for "research and development". Scam.
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Wondered how the word ‘fleet’ inexplicably became a permanent part of the Nigerian language. Turns out there was a popular brand in the 1920s to 1950s called Flit, so it became the ‘maggi’ of insecticides with anyone alive likely having never used it. Fascinating.
Fleeted my room then couldn't stay there. Question is did I need to use that much insecticide?
'Vengeance is Mine, and recompense;
Their foot shall slip in due time;
For the day of their calamity is at hand,And the things to come hasten upon them.'
Deuteronomy 32:35
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This thing is a nationwide issue. Below was Ogun last year pricing a N100k TV. It’s a general NGMI situation…
I just wrote an open letter to the Governor on Public Procurement awards reported by LASG for the 2nd and 3rd quarters of 2023, highlighting a number of issues for further scrutiny and remedial action. Judicious use of public funds is always important, and is especially so now.
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@DoubleEph
Pls write a longer blog post on the insights he was able to share. Think he deserves a 360° view 'cos it's very 180 right now...
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You have a Ministry of Budget and Planning putting up N2bn for "sporting activities".. With all the pot-bellies there? Ex-militants still being rehabilitated since Jonah's days for N65bn yearly.
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When I saw this one and their N1.5bn annual budget with them proudly saying they've trained over 2,000 people "over the years" (since 1975), I knew the whole document will drive me crazy.
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So when we even say only 30% of the budget is "capital expenditure", we should be thanking God because most of the capital budget is for buying cars, building office buildings and "research and development" because we're the research capital of the world.
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It's worse than I thought, guys. It's bad bad. Save yourselves; activate plan B.
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French Language Village, Badagry = N616m. Arabic Language Village, Borno = N627m. National Business & Technical Education Board = N1.6bn, Computer Registration Council = N228m, National Library = N3.5bn... Why do all these things exist?
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I was only able to through 5% of the document and maybe 5 ministries and maybe 10% of the whole budget makes sense. Every little agency is buying computers and printers and cars every single year for billions.
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If you want to know what an MDA is doing or what a government's priority is, just look at the budget. It is clear that our government don't know what they're doing across-board.
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The Nigerian state allowing Hisbah to exist is a slippery slope that’s tilting further. Only a matter of time before another state comes up with a version that’s less politically palatable, and then it’ll be too late, as usual.
Ramadan Fast: Hisbah warns Non-Muslims in Kano State against eating in public
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If you want to keep hope alive in Nigeria, don't look at the budget. If your company is having tough times and you choose to go ask your investors (taxpayers) for more money and borrow more instead of burning this budget first, then you're under a curse.
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This is what the African delegation to Ukraine should have gone to sell for a few billion $$, but we prefer to use all this power to prevent N100k loan recovery… We’re also unintelligent spiritually.
We went to do loan recovery at an area called Labiran in Ibadan, as we were trying to enter the house of the defaulter a guy among us was beaten with charm which made him paralyzed on the spot. We didn't know what to do until one old woman told us to go look for a pregnant woman
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It's exhausting to operate in a place where you have to constantly leap away from poverty at an increasing rate. If you're moving at a constant pace, you're marginally gravitating towards poverty, and if you're at rest, you're getting poorer at an exponential rate.
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Ministry of Agriculture. Most of the line items are "promotion and development of X value chain" xxx million. X can be ginger, wheat, castor, leather... a budget line per crop, hundreds of millions each.
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I am convinced that we just enjoy drama & stress in Nigeria, because
#sexforgrades
is something a not-so-sharp 12-year-old will solve permanently in minutes.
- Candidate no., not names
- Double-blind marking
- External moderation
- Standard release dates
- Result appeal process
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DSTV bleeding in Nigeria by almost $120m. Positive operating cash likely 'cos of the massive increase in current liabilities. Should be begging them to stay... The amount of money they're spending to hedge the Naira too. 5 more years of this loss & I bet they're OUT of there.
You only have to become slightly big in Nigeria for people to start thinking you're a public utility.
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So much time spent as a kid in Nigeria learning the structure of the grasshopper instead of life stuff like sign language, braille, swimming, other languages, musical instruments, history, sexuality, finance, CPR, cooking programming, logic, philosophy, astronomy, self defense.
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Jumia's IPO is happening soon. Got me a bit reflective and wrote about the company here.
Jumia: How to Build an Ecosystem
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How it's done.
President
@MBuhari
has officially commissioned the FCT Emergency Communication Center and
National Emergency Toll – Free Number 112 as part of an innovative approach to enhance the security of Nigeria and drive a Digital Economy for a
#DigitalNigeria
.
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@markessien
Given that LP was already announced as winner in several states, it would be important to show this versus the number that was announced by INEC to know the scale of discrepancies, if any.
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[5:34AM]
#OjuelegbaBridge
#Accident
Report of an overnight lone accident on Ojuelegba Bridge inw Fadeyi with falling carton of plywood from a Trailer blocking the entire bridge while diversion in progress thru Ojuelegba Service lane inw Dormanlong bridge.Effort is on for recovery
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This world is not that hard to understand. When the primary KPI of Customs is revenue generation, the only lever they have to control is their tariffs, & the only direction for performance is up. They will always choose to make 10% more even if it’ll cost Nigeria 10x in value.
@FinPlanKaluAja1
@AbianDuke
A 40FT from UK to Apapa is £5,000.
A 40 FT from Hamburg to Apapa is €4,500
A 40FT from China to Apapa is $2,500 to $3000
Clearing/documentation of a 40FT out of Apapa/Tincan = N8,000,000 depending on the nature of goods.
A 20FT container is b/w N6m to N7m
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1. Don't launch. Stay in fucking beta for 3 years if you have to until you have a thousand billion real or fake users. Your novelty clock starts ticking when you launch, and if you're African African, you don't get the chance to experiment post-launch. You grow or you're dead.
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7. We're *very* poor in Nigeria. Avoid B2C and sell to businesses, or become Shittu's friend and become a tenderpreneur. You can count the number of companies selling (not processing) N1billion in goods per year online in Nigeria on your fingers.
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2. Unless the blood of YC is on your forehead, pedigree matters. BSc. Computer Science from Unilag and freelance developer for two years is not raising $2m, period.
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The most expensive tractor you can get is $450k (you can get Lamborghini tractors for $150k), but Niger state is getting 10 tractors at $500k each. You bet they're not paying more than $20k a piece for whatever fairly-used scrap they'll eventually get.
#Brazen
Niger Govt. to acquire N1.8bn tractors for 2019 farming season
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Thought Obi's petition was light based on headlines till I read the full thing. Covers all possible commas regarding the elections. Drug case, Shettima nomination, Abj 25%, overvoting and blurred uploads, Rivers & co, etc...
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@unbeardhead
@asemota
True. I respect people that leverage their privilege. Shows that they don't take it for granted.
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5 years ago.
It's only in one spot in Lagos that a trailer will fall from the bridge once a month, and the bridge remains the same. Guess the spot.
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There's a specific investor mating dance. Very specific, but that requires another thread. I'm still on the stage and I'm still failing auditions, so I've obviously not mastered the dance well enough. I'm working on it (as you can see if you're the discerning type). The End.
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4. If the $100k for 25% you're looking for will get you to break-even, go and ask your uncle for that money. It's a family business.
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8. Don't live in your fantasies. 80% of the time, the only reason we remained in business is cos our fantasies got warped into our consciousness. You're hungry & in debt, but you can't feel it because you're imagining yourself having lunch in Dubai celebrating your IPO. Wake up.
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@Loki8Dusty
@apurv_anand
@brookekell
@PicturesFoIder
Hmm. Why would service go all the way down only in the US? That doesn’t apply anywhere else.
Most are still paying the $36 either in food prices or as tips, so why not save everyone the stress and make it standard for all? E.g, add a flat 20% service charge to all bills.
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Glad LASG is tackling this narrative, but more needs to be done with data. The perspective of another builder who’s trying to win business is not that independent. Publish:
- Ownership % by ethnicity
- Avg. no of notices & notice period
- Identity & charges against issuer of…
An independent analysis of demolition of illegal structures built on drainage channels across Lagos.
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6. Don't believe the hype. If you're in the space long enough, you'll see through the smoke. We're all lending to the same person. You're processing my payments and I'm processing for him and he's processing for her. It's an "if you know you know" thing. Be realistic.
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When they start doing sensational things like this (they don’t really care much for it), you know they don’t have any actual development plans.
The Niger State Government has announced plans to ban sales and consumption of alcohol in Suleja and eight other local government areas of the state.
In a statement signed by the board secretary, Ibrahim Muhammad Bonu, on Monday, the ban would commence on January 1, 2024.
The…
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@NejeebBello
This is not a feminist cause. They’re not harassing her because she’s a woman.
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@ceonyc
@jasminecrowe
I hope they took personal responsibility and didn't throw the associate under the bus, because that statement was most likely a true reflection of the firm's philosophy, even if unwritten. The same associate might not have the gumption to say the same elsewhere...
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3. Local VC (in the true sense of the word) does not exist. The fund sizes and the risk appetite required to play that game is simply not available in Nigeria. You can find seed capital, but recognize exactly what you're getting.
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10yr anniversary at
@suregifts
🎉. We pioneered local gift cards in 2014 & still No.1 with >250k sold last year (we create & sell a voucher every 2mins).
Grateful to the team that always held it down, 1,000+ loyal clients from banks to telcos to govt, & our trusted merchants ♥️
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@DoubleOGAdoga
Please sue the CMD and NPF. People must pay for these things for it to stop. Let us know how we can help.
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9. Get a co-founder or two, and not the ones you give 10% because it's your idea. If you're in Nigeria, it's almost always best to split it down the middle (or close) if you still want to be hanging in 3 years.
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@zurathusa
@Seyi__
SMH. A journalist can just change Mali to Niger in this article and put it in draft to publish in 2025. We’ve seen this over and over again but apparently Republic du Niger will be special.
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You only have to become slightly big in Nigeria for people to start thinking you're a public utility.
Nigerians think DStv is " cheating " us is because 82 Million of us live on less than $2 a day
We are poor, disposable income no dey
House of Reps will support policies that makes Nigerians poorer
Then wonder why Nigerians can't afford DStv
Meanwhile we pay cheap DStv prices
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5. The next financing round is more important than the current. Have direct line-of-sight into how you're going to get the next one, or else don't waste your time doing this one and simply close shop while your CV is still fresh.
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Myself, my brother, co-founders, friends, employees have all at some point been kidnapped and extorted. I will support this particular cause however I can.
#EndSarsProtests
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One more certification, one extra side income, backup passport, buy USD... How many people at other places are constantly in a state of hedging?
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There are barely 10m jobs in renewable energy... globally.
FG set to create at least 5 million jobs for youths in the power sector – Minister of Power
FG is set to create at least 5 million jobs for the youths, through its 5 million solar power initiative and other projects.
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@paulg
When it comes to subjects like language, you have to admit wrong when majority or a large-enough audience disagree as they have on this thread. It’s not weakness.
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Re: viral tweet, it will interest you to know that some agencies even budget for the preparation of the budget. LOL.
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@ChukwukaJerri
Never criticize your wife's FAULTS. It may have been those little imperfections which stopped her from getting a better HUSBAND.
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Link to PDF?
Governor Babajide Sanwo-Olu has launched a strategic document that represents his vision to transform Lagos into an innovative, inclusive and prosperous city
@jidesanwoolu
@HMOKUNOLA1
@egubesam
#LASG
#ForAGreaterLagos
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So if the CNN investigation is not credible enough, it means dead bodies will have to testify for anything to come out of those judicial panels.
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@paulg
This is an expression most English speakers in the world wouldn’t understand, but that doesn’t take away your right to deem it appropriate for use. It’s the audience’s responsibility to google it, as I just did.
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In 2020, you just simply cannot flourish in a place where people think a long term asset worth $15,000 is beyond you.
#SARSMUSTEND
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@IghoThony
Agree on the achievement. But clear sign of guaranteed bungling is doing it via a coup, the Russia romance, alliance with already-bungled Mali and Burkina, and silly initial moves like banning 50% of your own export earnings.
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Quick maths but we don’t have the figures for lockdown and border closure.
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If Lagos' tap water is certified safe to drink annually, how much time will pass before you start drinking it? That's how much time between actual good governance and trust that it exists. It's ~10 years for me.
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Call your parents and tell them a story. They're all on the other side until you personalize it. Share the extortion and kidnap story and watch the huge surprise.
#EndSARS
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So it turns out almost the entire traditional mass media is working hand-in-hand with the govt. I even thought there were 'opposition' channels, but nope.
#EndSARS
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Standard of conversations have been so dull over the past few years that I wasn’t expecting these intelligent questions and responses.
The NNPC GCEO's interview this morning provided some clarity regarding the fuel subsidy removal.
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It's sad how Africa doesn't even have the sophistication required to get spectator tickets for the 5G race. Zero conversation happening. The tech is going to add $500bn to the US economy. It's going to add more than Nigeria to the US economy. We're building computer centers.
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2023 Q1 update.
Container just fell on a bus at Ojuelegba bridge.
There are people inside the bus (full load) as health officials are giving them trip.
We need emergency here to lift the container.
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One per year for 8 years. Enough for 2 full admins. Maybe a $1m fix even if it's ugly tall barriers..
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Naira card declining on ASOS? Buy a voucher instead on
@sureremit
. Pay with crypto via
@BushaHub
gateway or directly with Naira (coming soon).
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@markessien
Interesting. It would be good to focus the next round of effort on states where any party got 25% +/- 5%.
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I don't think I've seen a group deploy fallacies as much as we do in Nigeria. It even informs public policy like border closure as seen in the customs boss' video..
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I'm really for this expatriate model for economic management. KPI management more objective. Sensitive positions more competitive.
PHOTOS: South African President appoints Okonjo-Iweala Head Economic Advisory Council
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@BadekaleTola
@jidesanwoolu
Tell him to delete and replace the message on the official LASG handle and fire the press secretary.
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