It's been two to three days, and my bank network and my service provider have been very bad. This simply means I cannot make online bank transactions and at the same time, I have poor or no access to my online activities. This isn't because I'm not a paid customer, or maybe my services were discontinued because I was owing.
On the contrary, I am a prepaid customer, but the truth is, no matter how much I pay, I'm still being subjected to poor servicing and a terrible network. So basically people can have money and the services they're paying for might not be delivered to them when they need them. We all know the essence of time when it comes to servicing.
Time is underrated in businessing in Nigeria
Making a business payment at the right time is crucial
time plays a big role in success or failure, this is why we choose a specific period to make some specific subscriptions or transactions, imagine not getting those services in the window when we need them.
This is largely because, there's no functional regulatory agency that makes these service providers questionable and accountable for their actions, and neither is the judicial system flexible enough for a layman to sue a company that has failed to provide a service that they've been paid to do. So there's this invisible pass that these companies get,
The freedom To Be Incompetent
Their ineptitude can create a failure or a dent in the smooth functionalities of people's businesses, without them having to answer to anyone, but on the other hand, you cannot do this to them. This is because for you to even have access to them, you must be paying them right on time, and you might need to hope they deliver these services to you when you actually need them.
Hope, when you've already provided proof of certainty, money. This is largely because they enjoy a market monopoly directly provided by the government. It's difficult for other individuals to saturate that Market, offering people different options. The biggest economic problem we have in Nigeria, is more monopoly, and less competition.
This isn't because competition is impossible, but because the fear of competition takes away the prospect of dominance from the entitled,
Nigeria runs a closed economic system where the startups providing competition to bigger companies are run out of business by archaic government policies. Nigerians are one of the most innovative people in the world, but one of the biggest problems the country is facing is that the country is built on anti-revolutionary principles.
This means that there are forces in play that make it difficult to technologically be on the same sophisticated levels as other countries. The old system is refusing to die so that better systems can be installed, and this is because of ignorance and lack of awareness of the younger and more innovative generation who are supposed to take over.
The sentiment On Crypto
Nigerians are one of the most educated people in the world as well, but irrespective of this, they allow the uneducated populace to influence their stance on politics. Another thing is that even the most educated of people are being controlled using sentiments.
For example, crypto trading has been banned for over a year now in Nigeria, and young people who are looking to crypto to create wealth for themselves in a country with a 33% unemployment rate, with over 73 million unemployment graduates are not even questioning the people contesting for power on their stance towards crypto. I mean, we're already being ruled by economically daft people.
Change Is Too Expensive
People who cannot handle the most prevalent economic issues in the country, but yet the younger generations are not concerned about how the next government is going to make salient choices that would change the economic situation, rather they're being controlled by tribal sentiment. It makes Nigerians the most innovative but the most stupid population ever.
The way people find creative ways to meander from poverty is nothing short of a beauty. The systems have failed so badly that people are finding ways to generate employment got themselves, but it's baffling how they cannot change this innovative thinking to challenge or change the narrative when it comes to making decisions towards governance.
This means that it's easier to control the larger population. The minorities who refused to be controlled by political narratives are so small it becomes difficult to change the country from a position of minority. The way crypto is being adopted in Nigeria shows that the traditional system has failed, this is why the system is fighting too hard to kick crypto out of the system, but let's take a look at other African countries that are poor adopters of crypto, South Africa for example.
The Freedom To Choose,
Being Revolutionary isn't enough
I tend to believe that the reason why crypto is more adopted in Nigeria than in any other African country is that the citizens are looking outside the traditional system to create a means of income for themselves. Some other African countries have better systems, so they find no essence in seeking freedom outside what their system is offering them.
It's only a change in power that can bring an end to the endless monopolization of opportunities by bigger systems. However, it's unfortunate Nigeria wouldn't experience this change, now or in the near future. Some people would still vote for those who would enslave them and keep them sequestered, unable to create innovative tendencies that will take them out of poverty.
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