BAIL OUT OR BAIL OPTIONS?

Motivation Today E-zine, Issue 03, June 2009

Right on time, the yellow cab pulled over by my office gate. I hopped in, exchanged pleasantries with the cabbie and off I was driven along Ahmadu Bello way. There was a traffic snarl as usual, due to a police checkpoint after Bonny Camp.
“All these police people, dem go allow person burn all im fuel for inside traffic. Dem no know say petrol no dey?” The cabbie, who gave his name as Taiye finally breaks the silence, and my reverie.

“That place is an illegal checkpoint.” I blurted. “I don’t know why the police authorities should condone this act?” I continued.

“Ah, those ones, dem dey chop for the money too!” Taiye replied, revealing his strong Ibadan accent. “Everybody, na chop make I chop we dey do. If to say dem take me for Police College, I for don chop up now.”

I laughed heartily. I talked to him about how absurd it was for us to promote greed above national development and patriotism. He told me how despondent he felt about the nation. And he had good reasons: a few years ago, his father was laid off from the Railway Corporation without any severance pay after 27 years of service. He had to work as a cobbler while in the polytechnic in order to send his siblings to school. His university graduate twin brother managed to secure a blue-collar job in a manufacturing firm after 3 years of unemployment. According to him, he has had to work as a cabbie for 5 years, since it seemed white collar jobs were not available for polytechnic products. His was a sad story.

He drove along Adeniji Adele and we headed towards the 3rd Mainland Bridge. He said in mixed English and pidgin:

“With this economic meltdown, Kehinde, my twin, is not even sure if he’ll still have his job. You know, the manufacturing industry no even do well from before before. They say his company is folding up, some are saying it is only moving to Ghana. Person no even know whether dem go carry dem go Ghana.”

I shook my head in pity and groped for words. “I…I…I would like to advise that…” He cuts in:

“Uncle, our government wicked. They should give them bail out or what do they call it, like Obama do in America. If they do that, everybody will happy. They should even increase their salary sef because pepper don cost for market. Yes, everything don cost!”

“Taiye, you see, the government itself is confused. Economists and policy makers are not finding it funny. Nobody has ever encountered what we’re currently facing, so the best advice that I can give anybody now is to look inwards. Examine the different options at your disposal. Be your own economist, write your own script.” I suggested. “Don’t wait for any bail out from anywhere. Be busy strategising your way out of the mess. If it comes, fine. If it doesn’t, don’t blame anybody. You can’t really blame the government. The price of crude oil, I mean the petrol wey we dey sell to dem oyinbo, the price don fall. Even sef, we no fit produce am again becos of the oil war, the gbingin wey dey sele for Niger Delta now. So, government is making less and less money than before. With this Niger Delta oil war, maybe no revenue will be derived from crude oil anymore. Who knows?”

Taiye breathed a heavy sigh, kept quiet for a minute or two and questioned, “Uncle, but aren’t civil servants are asking for more salary?”

“Yes, you see, the government will dribble them. They have promised to pay the N52,000 minimum wage they are demanding but the agreement will not be implemented. If it is implemented, then Yar’adua will increase our tax. So, the point is, you entrepreneurs have an upper hand. If government increases tax, it won’t affect you much because your income tax is not deducted before you’re paid. Infact, it’s the other way round.”

“Hmmh, oga. Hmmh, I dey feel you well, well.”

“So tell your twin to keep his job, find small, small business to do by the side- from where he can earn some passive income. He’ll make more money, make his untaxable income high and still keep his tax liabilities affordable. Even if he loses his job, he can fall back on his business.”

The cabbie was very grateful. He dropped me at my destination, we exchanged phone numbers and I wished his family well.

Every man is an architect of his decisions. Do not wait for others to determine your fate. Liberate yourself from the shackles of indecision, lethargy and inertia. The angel of your dreams is the image you see in the mirror.


GREAT QUOTES
Ø Solve the problem yourself or accept a fate you may not like...from this perspective, the ethic of personal responsibility gains appeal. - Noel M. Tichy
Ø There is a mysterious cycle in human events. To some generations much is given. Of other generations much is expected. This generation has a rendezvous with destiny. - Franklin D. Roosevelt
Ø Don’t go around saying the world owes you a living. The world owes you nothing. It was here first. -Mark Twain


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