Sunday, 23 October 2016
(115): Recession, Innovation and the Nigerian Youth
The youth of a country are its greatest assets. During my last visit to Nigeria, I saw that asset at work. Many of these youths are working hard to earn a living; others are sitting comfortably waiting for manna to fall free of charge. One example of such hardworking youths was the taxi driver who took me from the airport to the city of Abuja.
You can tell that life is not easy for this young man. Despite the obvious hardship and difficulty he was going through, he remains optimistic. What made his story even more interesting was that there are thousands of youths like him who feel too big to do the kind of business he is engaged in to earn a living.
On our way to the city, I became curious about the story of this driver. I asked him to tell me more about his experience in life. It turned out that he is a graduate from the University of Port Harcourt. After searching for job endlessly, he decided to take his life in his own hands. He asked his uncle who works in the United States for help. The uncle decided to buy a taxi for him.
What impressed me the most is that he has big ambitions. He was using the taxi as a means of making connections, so that one day he could meet the right person who would help him find the right job, or engage him in a business. When he makes a break through, he intends to support his family, establish a successful business- and as you might guess-achieve the dream of many Nigerians, ‘travel abroad.’ I don’t blame him, many of us grew up hoping to travel, study or live abroad.
Having ‘connections’ or ‘long leg’ are words/phrases you commonly hear among our youths. Our society has sacrificed merit so much that people believe that their effort will never bring success. For one to make it, he has to know somebody, who knows someone somewhere, before he could be fixed in the right place. Largely, people have a point, but they are not completely right. As I told many of the youths I spoke with, favour has a limit. If you work hard, pray and remain consistent, one day your chance will come.
With Nigeria officially in recession, I believe Nigerian youths have a great opportunity. The opportunity to create businesses that could provide income for them and provide jobs for others. Some of the best inventions and businesses in the world were created during recession.
In today’s essay, I would like to look at innovation as a mechanism for Nigerian youth to get themselves out of the economic recession that is biting hard.
In doings so, I would like to share the story of one of the most interesting innovations of this century. The story of the hotel chain, Airbnb.
I chose the story of Airbnb because it is a simple innovation that turned into a multibillion-dollar industry, estimated to be worth $25 billion.
Airbed and breakfast, the full name of the company was an idea conceived by students in San Francisco who were struggling to pay rent and earn a decent living. Like the taxi driver who drove me from the airport, they decided to take their lives in their own hands. However, what is even more impressive was they didn’t think about ‘connections’ and ‘long leg’. They look at the opportunities in the city, and decided to create a business out of these.