BY TITO AKPETI
As a drilling consultant, it’s been 2 months of no rig action . The crash in oil prices has finally come knocking introspectively, I am seeking ways be useful to myself , family and our great country Nigeria. Before you attack me with all manner of diatribe for using the word “great” to describe Nigeria. I would plead with you to be patient and also realise that our present situation was not caused by me.
Truth be said that economic policies currently on the turntable have apparently not made much impact on Nigerians. Inflation is on the rise, even staple foodstuffs can be now classified as not very much within the reach of the common man. This wahala has even extended to the typical household rodents that invade homes.
Gone are the days when you will see a fat looking and obviously dangerous rat running through the pantry, jumping stools like Usain Bolt , and then screeching its legs once it meets an obstruction. And, of course, escaping immediately a few “size” 44 shoes and brooms are thrown at it; eventually scuttling into the comfy of a cupboard or store that used to have bags of rice and beans. These days these pest are seeking greener pastures out in the open fields where the hustle is evident.
Coming back to the main issue, vast majority of Nigerians are saddled with issues that all bother on one thing ‘MONEY”. And this has to a large extent given rise to a renewed effort at mental exercise, where people are thinking more . Which of course was lacking in many ways and was further dampened during the “Goodluck” era.
An Era where high Oilprice and arguably sound economic practices kept the economy in favourable stance with all and sundry . A time when Moet champagne, Remy Martins , Ciroc, Jack daniels greased the throats of many. In these “bubu” times, liquor is to a large extent a luxury. Even yours truly has suddenly understood the value of yeast in Palm wine and would preach about the need for all to embrace it now more than ever. Yes, in this time it is wise to seek out cost effective methods of feeling good, at least to escape realities momentarily .
Back to the present MMM bug. . I went to the fuel station the other day to get petrol for my car, and asked the attendant to dispense accordingly. Suddenly an attendant lunged from nowhere in excitement and screamed, ” babe I tell you..!!!!!!!!!!!!!!!!!, den don pay the money.” Her rounded and fat features suddenly reminded me of the popular mascot used in that popular Michelin advert of the 80s.
“Babe Try put your money..oooo, girl u go hammer!! And she strutted off.. My own attendant suddenly went quiet and almost dispensed more than I actually paid for. And then she replied ” I for do am..oooo. Na my brother.. oo. Him talk sey na pournzeee .. Say d tin na 419. E say one company chop him money for Port Harcourt…. umana umana!!! . As for me now,dis time e no go pass me , whether na emu-emu-emu (MMM) or enu-enu-enu , (NNN) I must to follow. Bros..oooo , try leave change for me na, you be big boy na? And I replied ” for this bubu time, that pattern no go work..ooooo! “
MMM today is at variance with everything you were thought in school about money making. It appears to be making a mockery of long held financial theories ,especially as it relates to availability and percentages on funds. The basics of this scheme is that you receive a third of your initial deposit inclusive of principal sum after a thirty day maturation and that does not even include referral commissions.
Even from the surface, this looks like a Ponzi scheme, considering its nature of set up and there have been individuals that have syndicated such and later disappeared in to thin air without any trace leaving thousands crying at the loss of their life savings etc. Proponents of MMM have also said that this scheme does not encourage people to throw in all they have. Govt bureaucracy sees such schemes as fraudulent and anti- establishment and that could be a couple amongst many of the reasons why MMM is sometimes hushed around in certain circles even though there are unconfirmed reports that those at the top have siblings,children ,wives etc signing up.
Worse still is the inability of proponents to properly articulate how you can make so much money in a short time by referencing rational indices founded upon basic profit making indices only.
Nevertheless, the biggest threat to MMM is MMM.The keepers of MMM whose steadfast and unwavering belief have seen these waves ripping through every barrier that was hitherto thought to be impenetrable. MMM is akin to a political movement that is recruiting followers in droves, irrespective of social, ethnic , class , age or color considerations.
Unconfirmed reports have it that over 1 million Nigerians are presently engaged and the number is rising by the day. Propaganda concerning plans by government to arrest and prosecute members has not even deterred new entrants . A supposed directive by NASS to the EFCC did not even yield efforts. It looks like this scheme has seven lives like the cat.. Every obstacle thrown at it seems to either be evaded or shrugged off. Even the recent crash of the sister MMM in other parts of Africa have not created any problems in Nigeria, as was expected . MMM more or less represents what they call “odeeshi” in local parlance “.
The biggest question would be whether this MMM train derails and when would that happen or would it become so entrenched in our national fabric that it becomes the quickest way of boosting ROI ? Only time would tell…!
- Tito Apketi wrote in from Port Harcourt, Rivers State, Nigeria>