Doing Business in Lagos Part 2 by Don Abiodun Odedeyi

THROWING MONEY IN THE DRAIN, The African way

Continuous exportation of raw materials, importation of finished goods into Nigeria or any periphery countries, irrespective of balance of trade will continue to underdevelop the later so far this action remain in practice.

One of the critical panaceas that I have come to accept (as reason for poverty and solution) is the Structural Development which advocate for delink/break-of-ties (with the core countries) and rigorous homegrown import substitution industries.

This decision did not come from the bin.

The Chinese example is living right with us as it denied twitter a chance to make entry into it country instead released its own microblog version, weibo, in 2009. 

With the world’s population at 7.5 billion and China’s population at 1.379 billion (that’s 18.4% of the world’s population), China remain the largest market among the Developing countries. The decision to shut out twitter and embrace local substitute, Weibo, has interpreted to $11.3 billion in value, about $200 million more than Twitter (Source: money.cnn.com).