INSOURCING OF FUNDS: A Corporate Blueprint for Waking the Giant of Africa
"Insourcing of funds" is a term that refers to the strategic plans, activities, and pathways that culminate in the increase, multiplication, and sustained growth of an economy. Crucially, it relies entirely on internal factors and local assets, without a total dependence on external aid. Looking at the Nigeria of today, our sole dependence on crude oil has led to unthinkable hardships among the masses. What is the way out, particularly in this current economic era? This is the exact reason why people like me want to look inwards. Some might support borrowing money from institutions like the World Bank to drive the economy. While that is not a inherently bad idea, it inevitably leads to a heavier debt burden, which further worsens our economic situation. This is why I am preaching the insourcing of funds. I will not elaborate on every single detail here, but I want to briefly describe the concept. Consider the 36 states in Nigeria, which almost entirely depend on the Federal G...