Kingdonomics: An Alternative Economic Development Approach for South-South, Nigeria and Sub-Saharan Africa, In the face of energy challenges by Amuche Alexander.

 Kingdonomics: An Alternative Economic Development Approach for South-South, Nigeria and Sub-Saharan Africa, In the face of energy challenges by Amuche Alexander.

South- South and the entire territory called Nigeria had hardly mastered the basic character development of a barter system such as trust, integrity, relationship, effective communication and honesty in business before the invasion of the colonial masters.
Nigeria is a Faith based nation and this is obvious in our national anthem, unfortunately, Nigerians themselves are beginning to loose faith in the nation Nigeria.
For any economy to prosper, it must learn from the past and use the opportunity of the present to prepare for a better future, when this is not done, even the nationals will begin to lose faith and hope in such economy.
A real transformational development begins from within not outside. Nigeria has attempted to copy the development theories and ideologies of other nations and has failed woefully, in fact globally, Nigeria and West Africa including Sub-Saharan Africa is considered the grave of many investment and developmental effort, however not with kingdonomics.
Kingdonomics advocates righteous production, Peaceful distribution and joyful consumption. built on Truth beyond assumption, Faith beyond Facts, and Values beyond Money.
First is the character development of Trust and Integrity
1: Without Integrity, and trust, sustainable economic development is impracticable, impossible, unachievable, unattainable, and unworkable.
2: Without integrity and trust, corruption, injustice, inequality, violence, poverty and inflation thrives even in the midst of abundant factors of production.
3; Without integrity and trust all research and development efforts will be flushed into the gutters of theory without applicable and practicable economic activities…
Let us consider some sectors of the economy that directly affect economic activities in the circular flow of income in a hypothetical economy and also evaluate the implications of integrity and trust in those sectors these will include;
1: HouseHolds
2: Firms
3: Financial Institutions
4: Government
5: External Economy
1: HouseHolds: In this context, households includes, individuals, marriages and families. Integrity and trust is the foundation upon which marriages and families are built, developed and sustained. Lack of integrity will breed dis functional homes, unhealthy relationships and individuals that are not trustworthy, fraudsters, scammers, thieves, gangsters, cultists, and corrupt individuals whose consumption behaviors destroys productive activities and sustainable development attitudes.
In basic economics we know that households own factors of production and if the aforementioned individual own the factors of production in any economy, they will misuse, abuse and violate the foundational economic development values that Kingdonomics postulates, which are righteous production, peaceful distribution and joyful consumption, with the use of thoughts, tongue, treasure, talent and time on earth with eternal legacies.

2: FIRMS: Firms basically buy the factors of production from the Households, then produce and generate profit from sale of the product back to the households. Now, the cost of integrity and trust will be factored into the overall cost of production. This means that if the first spend more on community crisis, corrupt practices, Household rivalries, Activities of Fraudsters, Scammers, cult and gang related issues etc, it will reflect in the final prices of products from the firms. Therefore increasing the prices of commodities for the common man.

3: Financial Institutions: The financial instructions also pay dearly for the implications of Trust and Integrity. No investor will like to entrust their funds to a financial institution that lacks Integrity. The Individuals working within the financial institutions are from Households and are equally affected by the products from the firms and that will impact on the deliveries of the financial institutions.
Will any bank loan funds to individuals that lack integrity and are not trustworthy? We now that when the risk factors are high, the cost of transaction are equally high.
So instead of banks channelling financial assets to productive activities, they are compelled to fund the activities that yield the best returns.

4: Government: Democratic processed involves the people in totality, if the democratic process lack trust and integrity, then the cost of governance takes the Centre stage instead of capital projects that will stimulate economic growth and development. Government also involves Legislation, Judiciary and Executive and in the light of lacking trust and integrity, the government will only formulate, execute, implement and wield the governmental powers as it suits its people from the households.
The tempo of economic activities will be such that even the people lacks confidence in the government and the purchasing power of the legal tender will depreciate rapidly in the midst of other currencies in the international market.
5: External Economies: Interactions with external economies should promote export of products that will yield greater return when exported and to import products that will stimulate sustainable development activities. Without Trust and integrity, the above cannot be achieved or practiced. As a matter of fact, the eternal economies will steal especially when there is ignorance, lack of integrity and trust on both sides, it becomes the survival of the superior thief, and with a superior fire power.
All the economic theories and ideologies imported from the so called advanced economies are intentionally designed strictly to benefit the external economies and render subsaharan Africa as a raw material nations. So we export our Land, Labour, Capital and even Entrepreneurial products to the advanced economies and we only import the finished and refined products at a higher cost.
This is why Kingdonomics is strongly recommended as an alternative development economic approach to the south-south, Nigeria and the sub- Sahara Africa especially in the face of energy challenges and Artificial intelligence technology.
We are already a people with strong traditional and cultural values and if we shape our cultures and traditions around Righteous Production, Peaceful Distribution and Joyful Consumption, with the use of our thoughts, tongue, talent, treasure, and time on earth with eternal legacies then, we will truly build a prosperous economy in the south south, Nigeria and the entire Su-Saharan Africa.
Amuche Alexander. kingdonomist@gmail.com
+234 8187577037