State of the HUSTLE address 2018
This address intends to set the template for Hustle in the next 12 months...
The Oxford dictionary defines hustle as a state of great activity.
There are different definitions from different backgrounds of the meaning of hustle.
To us, hustle means striving through legitimate means to earn a living.
It involves everything within the above corridor of legitimacy that anyone does to be free from subservience to any created being..
Hustle is not only about having a large bank account..
It is about being free.
Hustle is what makes a male a man and makes a female a woman...
Hustle makes you humble and grateful for the many many bounties of The Almighty..
Hustlers are insulated from recession, depression and oppression...
2018 is going to be tough and rough...
Guess what? We survived 2017 right? By HIS Grace, we are hustling through 2018 stronger and wiser...
2018 is going to be so filled up with uncertainties, strikes, long queues at petrol stations, sometimes engineered to create tension for the incumbent administration.
2018 is the eve of an election year…
All the above and more will escalate the already low economic activity and low purchasing power in the country, especially in towns and cities with no history of or low commercial activities.
Few cities in Nigeria will be insulated…
Lagos and Kano are top on my list…
Let’s talk about them.
Lagos controls over 90% of Nigeria’s forex inflows…
With over 23million residents (according to World Population Review 2017), Lagos is now the most populous city in Africa.
With a migration rate of 86 people moving into Lagos every hour, it is higher than New York, London or Mumbai.
Lagos has a population density of 6,939 persons per kilometre and an average of 5 persons per household.
Lagos is Africa’s fastest growing market and the 5th largest economy on the continent, contributing over 30% of Nigeria’s GDP.
Current demands for trips in Lagos Metropolitan area by all modes (including walking) is approximately 18million per day, with over 7 million public transport trips per day.
10,000 metric tonnes of waste is generated daily in Lagos State, and the state is by far the largest consumer of electric power in Nigeria as the Ikeja and Eko distribution zones alone account for over 50% of the total electricity consumption in the country.
Lagos, according to Governor Ambode, plans to have 24/7 electricity supply by December 2018. This audacious goal when achieved has the capacity to double the population of Lagos..
Lagos requires 750 Million gallons of water daily as against the 210.5 Million being supplied...
Lagos slaughters 6000 cattle per day. i.e 120 trucks at 250kg per cattle x 50 per truck with an estimated value of 1.5 Billion Naira.
According to an unscientific research by a Lagos based capital market veteran, Lagos consumes 2 Million bottles of beer a day (not that I encourage or endorse its consumption), and every four bottles go with 1 serving of the popular esewu made from goat head. 1 goat head produces 4 servings of esewu, which gives us an estimation of 125,000 goat head daily consumption rate.
Kano city, according to the World Population Review 2017, has a population of 3,626,068 people.
Kano with a total area of 20,131 SQ Km is without a doubt one of the emerging big cities in the world.
Kano city has over 500,000 households that use at least 1 litre of cooking oil a day. At N350.00 per litre that is N175 Million a day just on cooking oil.
Kano records an outflow of 9202 trucks and an inflow of 8160 trucks every week. ( a total of 17,362 trucks weekly)…with an estimated combined transaction value of over N17 Billion weekly based on a survey conducted by the Kano State Ministry of Commerce and Industries at only the 6 major markets of Kurmi, K/Wanbai, Kantin Kwari, Singer, Abubakar Rimi and Dawanau.
The above markets receive goods from all over the world and supply to all parts of northern Nigeria, extending to Niger, Chad, Cameroun, Mali and even Central Africa.
So what is with all the data on these two major commercial hubs?
The intention is for hustlers to look inwards the more, forget exports for now, and find out what you can do to create value across all the sectors subliminally enumerated above.
Remember, hustlers are mutants, we don’t go away. We re-strategize, we re-group and re-launch.
2018, bring it on.
We don’t blink, we are gladiators. We slay dragons...
When the irritation increases, the inspiration MUST increase...
Hustle, from the deserts to the Atlantic...
-From The Desk of The Hustler General of The Federation