Serious - Maiden Edition

SERIOUS ECONOMY

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WEALTH

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ENVIRONMENT

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LIFE

EDITOR’S NOTE

Why So Serious?

Welcome to the first edition of Serious - another publication talking about the Nigerian economy.

This is for readers who hear all the stuff about inflation but Gala's price has not changed and are wondering why we've been given the news; for those concerned about how the government's budget affects their daily lives but aren't interested in the Journal of Economic affairs. It is for the everyday genius, surviving Nigeria till Canada comes through!

We hope you find this informative and entertaining and USEFUL especially for making daily economic decisions. Should I recycle? Should I sleep in some more? Am I going to be rich in this Next Level dispensation? In this edition, we hope you find the answers.

Yours,

Lady Khaf Inside The Iron Throne

Are We Wasting Our Waste?

Odudu A.

Emma Wiz O.

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From Nigeria with Love!

Breaking Bad...

Habits

TobiTosin O.

Lush Lash O.

7

4

What do you see in emerging markets?

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once or twice), I began to talk to this co-worker about how exciting I found the show and how much I anticipated the coming season. Soon, my friend -a research enthusiast and general knowledge buff delved into on the hidden secrets of the show and -the financial lessons to be learnt from the series.

The conversation was enlightening and I have decided to share some of those tips. As we eagerly await the premiere of the final season of the show, let's examine some of the economic lessons from the Kingdom of Westeros. Without further ado, here are six financial takeaways for Game of Thrones.

Always Pay Your Debts

One of my favorite quotes from the series; A Lannister always pays his debts.

So far, this has been true: a Lannister always pay back in cash or kind. As a result, the the Lannisters are deemed trustworthy and can seek assistance from anyone, irrespective of the circumstance.

So answer this; do you always repay your debts?

When Cersei took over the Iron Throne, she also

The Iron Throne

inherited its debt totaling six million gold dragons -approximately $70,560,000,000 in real currency. True to Lannister form, Cersei repaid the debt in full; by wiping out the Tyrells of

'Game of Thrones' is a fantastical tale set on the fictional continent of Westeros. The story is centered around the Iron Throne, Westeros' seat of power, and 1 the battle that ensues for the realm.

HIghgarden and acquiring their wealth). I won't advise you to take such extreme steps, or commit any crimes to pay off your debt, but you don't want to leave your debts unpaid. You should only take loans you are certain you can repay. While

Viewers are enthralled by the backstabbing, bloodletting and dark magic the

you don't realize it, unpaid debts can stop you

characters employ as well as the intrigue and drama that envelope a kingdom at

from achieving your financial goals whether it is

war.

saving for a degree, a vacation or a new house.

Most importantly, a good history of repaying your

The series is quite electrifying and it's easy to get lost in the intrigue, missing out

debt will help you by giving seamless access to

on the lessons that the story offers. Granted, 'Game of Thrones' is a story about

credit in the future.

politics, war and the ruthlessness required to survive, but it also presents insights into handling money, savings, investment and debts.

If you pay close attention, you'll discover that 'Game of Thrones' shows the direct effect of money on the development of a nation. In addition, it demonstrates how the political, social and climatic conditions in a region can impact the financial state of its citizens. I stumbled on this revelation during an intense conversation with a coworker. After obsessively watching every single season of the series (not

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Odudu A.

Live Within Your Means Well, this one is pretty obvious. Unfortunately, most people do not adhere to this principle. Look at King Robert Baratheon who was known for his sense of humour, love of drinks and women.

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The Iron Throne Unfortunately, the kingdom funded his extravagant lifestyle and was forced to borrow

Save 'cos “Winter is Coming”

betrayed house Stark. Robb's paid for his emotional and foolish decision with his life. Many

heavily from the Iron Bank of Braavos. You know

other characters made decisions based on

where that left the Iron Throne (see point one

emotions and inaccurate or incomplete

above).. It can be extremely hard to depend on just your salary, especially if your tastes do not match your income. It requires a discipline that comes from practicing frugality. The easy way to do this is to create a budget based on your income and stick to it.

In summary, plan your

expenses to avoid reckless spending so you do

“Winter is coming” the most popular line in the Game of Thrones series is one personal favorite for fans.

not end up in debt.. We don't want that now, do we?

Insurance Is A Priority Not An Option Valar Morghulis - All men must die. The story of the Starks reminds us that the good guys often suffer the worst fate, hence a need for an up to date life insurance. Imagine if the Starks had life insurance, they undoubtedly would have been the richest family in Westeros.

Nigerians have an unconcerned attitude towards insurance, evident through low patronage of insurance services What we fail to realize is we live in an uncertain world, making it absolutely important to have proper insurance in place. Today, insurance

information, partly because they were driven by their thirst for power, misplaced justice or revenge.

On the other hand, we have Tywin Lannister a wise strategist who despite his daughter's refusal was determined to see her married to Ser Loras Tyrell in a bid to access the Tyrell fortune. As

The coming winter is long and deadly and those

behavioral economists say, mixing emotions and

who fail to prepare may not survive. The

investing is a bad idea. Before you make any

economy of Westeros is built largely on a culture

decisions, you need to ask yourself, what are the

that has no respect for savings, as a nation or as

consequences of my actions? Is it worth the risk?

individuals. They spend every cent of their

Decisions in the financial world should be about

income and leave nothing and when winter

actions that benefit you and help you move

comes, they have no shelter. Winter never comes

forward, not in support of others at your own

for Nigerians so in this case, it's a metaphor for

expense. The lesson here is to make fact-based

unemployment, a financial crisis, natural disaster

decisions after considering all the possible

or even civil unrest. The message here is simple:

outcomes. It would go a long way if as a people

preparation is necessary to survive drastic times.

and a nation imbibe some of these lessons, for

Emergency savings are important for getting

the good of this present generation and for the

through the harsh storms or in this case, winter.

ones unborn. Your life is in your own hands; learn from the story of Westeros and start making some changes to your lifestyle.

Make wise decisions

In this aspect, characters in the series were found

wanting. One character that stands out here is drum roll... Robb Stark.

He promised to marry a Frey in exchange for alliance between their houses but went back on

I end with this statement by Tyrion Lannister to his nephew, Joffrey; “the Mad King did as he liked. Has your uncle Jaime ever told you what happened to him?” S

his word for the sake of love.

comes in many varieties and it pays to plan for mishaps before they happen.

The Bank; Your Friend or an Enemy Another favorite quote of mine is “The Iron Bank will have its due." 'Games of Thrones' fans would have heard about the Iron Bank of Braavos. If you think banks are money-grubbing, the Iron Bank is worse! Though extremely wealthy, How could an institution be powerful enough to make nations tremble and put kings on their knees?

Such power! The great and mighty Tywin Lannister had to warn his daughter Cersei; “if you owe the Iron Bank money and you don't want to crumble yourself, pay it back”. Here's the thing, if you fulfil your obligations to a bank, you become a trusted client but if you don't, you know how the story ends. Beyond the wall is cold, lonely and scary. The same is true in the debtors' corner.

The Freys were furious and consequently

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From Nigeria with Love The Season of Love February is known around the world as the month of love, the time of year when Cupid shoots the arrow of love into our hearts.

This past February was particularly special, as it was our opportunity to demonstrate our love for Nigeria by participating in one of the most fiercely contested elections in the country.

The situation was hopeful as stakeholders set out for the most expensive election in the history of Nigeria (INEC reportedly spent $522 million, five times more than the electoral budget of India, the largest democracy in the world.)

It was the first time since 1999 that the top contenders in the presidential election were from the same tribe and practiced the same religion. The incumbent was viewed by the international community as a more liberal candidate than his sternly capitalist opponent.

The tussle for the National Assembly was also billed to be an exciting affair which included 24 former governors who were contesting for re-election into the upper chamber and eight sitting governors intending to join the ninth assembly. It was a battle between old foes, old allies and allied foes (seriously, we can't keep up) for dominance in the next four years of Nigeria's history. Twenty-nine states would also stage shows of their own, as candidates wooed the populace with promises of better governance and quality of life. All was set for the biggest love affair of the year.

We are all set for Canada?

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The official statement released at 3 am on the 16th of February cited logistics and operational challenges as the reason for the postponement of the elections. To quote the statement, it was “a difficult but necessary decision”. As expected, the news was greeted by criticism for all quarters and #Canada became the most discussed issue on Twitter- I guess people's plan B was relocation if elections remained a failure.

This wasn't just bad for the country; it was bad for the economy which lost about N2.737 trillion in value according to the popular economy analyst Bismark Rewane (you can’t miss the curls) including cancellation of over 145 flights and a stock market loss of about $197 billion by Monday.

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From Nigeria with Love I Heard a Rumour By the Wednesday morning 2 weeks later, it was clear that #NextLevel candidate General Muhammadu Buhari, had won the people's mandate and secured the presidency till 2023.

The President gathered 57% of the votes from 36 states ofs the federation plus FCT, defeating his closest rival and former ally Mr Abubakar Atiku who had 41% of the votes. The other popular candidates including Mr Fela Durotoye; a business consultant and motivational speaker, Mr Omoyele Sowore; founder of popular online news agency Sahara Reporters, Mr Donald Duke; two-time governor and Kingsley Moghalu; political analyst and former CBN director produced less than 1% of the votes cast in the elections.

And the importance of the gist above is?

Given the NextLevel promises of: a. More jobs b. More business c. More women in work d. Better infrastructure e. We will stop going to India (for health) and the US (for school) What does the outcome of the election really mean for the economy? The general answer is that the government will continue to spend money to ensure a fulfillment of at least one promise (as we are managing due to oil prices turnioniown, the lavish of all 5 may be difficult but Able God!)

Buharinomics: If history has taught us anything, we might wait a few months before any significant growth of the economy. What we can be sure of is that money will move to the systems for the bottom of pyramid (if you are selling essentials e.g. food, recharge card, agbo - you've hammered for sure! Just make sure you put your money in Your One-Customer Bank)

King Agric This administration has made it clear that it is focused on the agricultural sector – it gave N55 billion to smallholder farmers through the Anchor Borrower's Programme in his last administration. In summary, there's no better time to be a farmer as the new budget caters for these types of intervention funds. They said the ABP created almost 2 million indirect jobs and about 800,000 direct jobs. Otope (we are thankful) if it continues!

Stability The economy is expected to be stable. Since we are familiar with the incoming administration, we can anticipate its policies. The presidency is expected to follow its Economic Recovery Growth Program, continue its social intervention programs among others – trader moni, N-power and co are here for the next few years. Low uncertainty is a good indicator for the economy – maybe this will help less movement to Canada!

Apex Bank There was some uncertainty surrounding the state of our currency but with Baba's victory, monetary policy (apart from all the other problems we have as a country, this is one of the ways the central bank manages the supply of money) is likely to remain unchanged (although the rate was reduced by .5% to signal NextLevel action) and Mr Emefiele's contract as governor could be extended(although, this will be a first).

Otoge Movement Governorship elections were carried out in twenty-nine states of the federation and the current ruling party, the APC, won thirteen out of these states. Of the sixteen states left, seven returned inconclusive results, as at the time of publication. The greatest upset was in Kwara state where the Saraki dynasty was defeated. Otoge is a Yoruba phrase which means enough is enough. This fully explains why seemingly big powers could not influence the outcome of the election like they had done in the past. The PDP won two states that were previously held by APC (Oyo and Imo) and the APC did the same in Kwara and Gombe.

The economic implication of this is that many states will experience new styles of leadership, with distinct visions for growth and development. If you have a new governor, congrats, we are watching to see how far too!

Why you should care In the wise words of Ms. Clara Ikemba – renowed secretary from the Nollywood blockbuster The Meeting, 'Oyo is your case' i.e. you are on your own if you are not abreast of the happenings in this Next Level government. The agenda is set, don't be left out of the benefits of development! S

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Are We Wasting Our Waste?

Emma Wiz O.

The felling trees and dumping of dirt in the oceans combined with rapid economic growth across developing nations have increased environmental concerns, necessitating a bigger push for more effective for waste management across the globe. Increased recycling and advancing technological innovation in waste collection processes are other factors that boost activities in the industry. Waste recycling has also become absolutely necessary for the environmental sustainability as methane emissions from landfills, pollution from improperly disposed waste have all contributed to the continuous ozone layer depletion and climate change.

Waste recycling is also a driver for the achievement of at least 5 sustainable development goals (SDGs). As such, some countries have begun to set courageous goals for waste management. Denmark, for instance, is pushing to become the world's first carbon neutral city by 2025.

Waste to Energy Generation (WTE) Of all the economic activities surrounding waste management, waste to energy generation is arguably the largest. According to US statistics, 53% of MSW is sent to landfills, 35% is recycled and composted and 13% is burned for energy recovery.

Waste to Wealth A few years ago, nobody would have bothered to write (or read) an article about waste. With the emergence of a $475 billion waste industry, it is important to as it is significantly changing our world.

Nigeria is home to over 180 million people who generate over 24 million tonnes of municipal solid waste (MSW) annually.) The USA generates about 300 million tonnes, China, 200 million. With over 1.3 billion tonnes of MSW generated in the world annually, it is no surprise that the world is rapidly realizing the huge utility of waste .

In the past few years, more countries and communities have begun to recycle waste to generate power, gas and to fabricate other reusable materials. Around the world, slogans like “Waste To Wealth” and “Trash To Cash” have become popular, showing the financial gain from waste recycling. Several governments and private corporations have also invested billions of dollars in waste management.

With this knowledge, waste is now in high demand.

A number of countries, including Germany, Sweden, Belgium and the Netherlands import domestic waste to meet their own needs.

Several communities around the world have invested heavily in the technology responsible for this.

Governments have created policies to regulate waste management practices and stimulate WTE generation. In the European Union, for example, WTE has become a preferred method of rubbish disposal and there are now 420 plants in Europe equipped to provide heat and electricity to more than 20 million people.

Norway is the largest WTE generator with 3 major WTE plants that recycle a total of 460,000 tonnes of MSW every year. China has also acquired the world's largest waste to energy plant which generates over 35 TWh of electricity annually by burning more than 100 million tonnes of solid waste, this accounts for 35% of China's urban waste disposal.

WTE in Nigeria The development of WTE globally suggests that for Nigeria, investing in waste to energy technology can significantly boost power generation. Let's be honest, Nigeria certainly has a power problem. Projections made by the Energy Commission of Nigeria, suggest that the energy requirement in Nigeria will be about 50,000kW by 2020. As at August 2018, Nigeria only generates about 7000kW. This will leave a huge gap of about 43,000kW. With all the waste lying around the nation, WTE can become a progressive step in addressing our power generation deficit.

Norway imported 45,000 tonnes of household waste from the UK between October 2012 and April 2015. Sweden imports about 800,000 tonnes (enough waste to fill 3 national stadia) of waste from other European countries annually. Most of this waste is fed into incinerators to generate energy generation. The rest of it is recycled. These activities generated $475 billion in 2016. This figure is projected to reach $562 billion by 2020.

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Are We Wasting Our Waste?

A 2016 US Energy Information Administration report recorded that, one ton (2,000 pounds) of MSW burned in WTE plants in the United States generated about 474 kiloWatthours (kWh) of electricity, equal to the amount of electricity used by 16 households in one day. If 50% of Nigeria's MSW (12 billion tonnes) is converted to energy, the country can generate over 6GWh of electricity annually (enough to power 200,000 homes) grossing over 10 billion naira using the current cost of power in the country. That is, power in our homes and waste off our streets, out of our drainage and rivers.

Breaking Bad...

Habits Lush Lash O.

However, for Nigeria to adopt large scale WTE generation, we must organise waste collection better.

At the moment, only 20-30% of Nigerian waste is collected and over 80% of the collected waste is dumped in landfills around the country. A large quantity of the uncollected waste is left to litter the roads and drainages or is dumped in the ocean. Effective waste collection is the first step in the WTE process. This must begin with households and other primary waste generating units (shops, offices etc.) The required MSW can then be transferred to WTE plants while the others can be transferred to other recycling plants with a small percentage disposed in landfills.

It Will Cost Us WTE adoption will require significant financial investment as WTE plants are very expensive to construct. This might explain the reluctance of several countries to adopt the technology.

However, the benefits outweigh the costs when its impact on the environment, power generation and national income is considered.

It will reduce landfill volume by up to 90% and prevent the emission of one tonne of carbon dioxide for every tonne of waste burned. It will also significantly reduce land and water pollution and position the nation to attract more green investments.

Waste is generating economic wealth for nations across the world, why not Nigeria? S

Often times we are not conscious of the long-term effects that our lifestyle choices have on our bodies and general wellbeing.

We are often unconscious of the long-term effects our lifestyle choices have on our bodies and general wellbeing. Nutrition, sleep and our general way of life are huge determinants of how often we fall ill, the kinds of illnesses we develop and eventually, how long our lives last.

Metabolic diseases, joint and skeletal problems, cardiovascular diseases, hypertension, obesity and many more, are majorly the result of an unhealthy lifestyle. As such, the relationship between lifestyle and health should be taken very seriously.

If health is wealth, then truly, a healthy country is a wealthy country. The cogent link between the health of the population and economic performance cannot be over emphasized. A wealthy economy can provide excellent healthcare, security and livelihoods for its populace. Promoting good health is also a stepping stone to building economic wealth.

The effects of health on development are clear. Countries with weak health and education indicators find it harder to achieve sustained growth. In addition, disease hinders institutional performance.

Lower life expectancy discourages adult training and damages productivity. Similarly, the emergence of deadly communicable diseases has become an obstacle for the development of sectors like the tourism industry, on which many countries rely.

While the government and private sector have major roles to play through investment in the health sector, the onus is on Nigerians to take personal health seriously and take precautionary measures to stave off . illness and increase productivity

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Breaking Bad Habits Here are some of the most common habits you need to drop or correct so that you can live a healthy and therefore productive life:

01 Skipping Breakfast “I'm late for work/the board meeting”.

“Gosh I'm going to miss the service”.

“There's so much work to do and so little time”.

These are all excuses we make to evade the most important meal of the day – breakfast.

When you wake up in the morning, your level of energy is low, and your metabolism is slowest, that is why most people feel slow and sluggish every morning.

03 Insufficient Sleep (and Stress)

Having a healthy breakfast boosts your energy levels and kick-start your metabolism.

“No More Insufficient Sleep!” This should be your mantra for 2019 if you plan to have a healthy and So next time you are tempted productive year. Sleep is one of the most important t o s k i p b r e a k f a s t , t h i n k ways to keep healthy.

carefully about the impact on your body and reconsider. A sandwich, akara (fried bean cake) or a bowl of cereal can make all the difference.

You've heard that not sleeping is a major no-no, but why is sleep so important? While you're asleep, usually between the hours of 10: 00 PM to 2: 00 AM, the body undergoes a lot of repairs; but for this to happen, you have to be in a deep sleep. Proper sleep is essential for optimum health, a human adult needs at least 8 hours of night sleep, but we can see that this is almost impossible in our world today

04 Inadequate Water, Fruits and Vegetables For many of us “fresh juices” or flavored drinks and multivitamins have taken the place of three very key foods necessary for healthy lives; water, fruits and vegetables. An optimal diet requires that we incorporate these three classes, for better health and wellbeing.

05 High Consumption of Salty and Sugary Foods Please note that “Smokers are liable to die young” – this has stuck in my head following that St. Moritz “when you're close to tears remember…one day we gonna get soooo highhhhh”. Smoking of cigarettes and use of other tobacco products are one of the leading causes of chronic lung diseases worldwide.

02 Late Night Eating There are a couple of reasons why you should think about moving your dinner up by an hour.

A late dinner, especially one close to your bedtime is bad for your digestion and whole body in general. Indigestion may keep you up at night, cutting down your rest time and leaving you fatigued.

Considering that most people aren't reaching for healthy meals or snacks like apples or carrots- at dinnertime, a late dinner may lead to weight gain It can alsocause acid reflux and heart burn.

In addition, it also increases hunger and affects your mental and physical performances the next day.

06 Bad Hygiene So many of us underestimate the impact of proper hygiene on our lives.

Good hygiene is essential for optimum health and well-being. The saying “cleanliness is next to godliness” is actually a FACT. So wash your hands often, brush your teeth and have a bath twice daily; use deodorants and keep your environment clean.

07 Over Exposure to Technology Sure, you're on top of the Kardashian's latest crisis and reply per second to all work emails, but the problems these devices cause are not worth the effort.

Take a break from your phone and laptop every now and then. Maybe have some actual human interaction?

08 Lack of Exercise and Sedentary Lifestyle

Bottom line: If you don't break this habit, you can wave goodbye to your a toned body. Take a walk after long hours of seating, stretch a little, pop into a colleague's office just so you can keep your joints oiled and blood flowing properly. S

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I hope you enjoyed being serious!

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