By Prof. Nnamdi Okeke (DrNO)
We published recently a piece titled ‘Bridging the Economic Divide – The Imperative for Southeast Human Capital Investment’ by Prof. Benard Odoh. His views were read, analyzed by a fellow professor, Nnamdi Okeke (DrNO), and is now responding critically to the issues contained therein. Chew them and digest the menu we serve you.
Prof. Benard Odoh presents a compelling case for strategic economic transformation in Nigeria’s Southeast. His article effectively highlights disparities between the Southwest and Southeast, particularly in sectors such as finance, technology, and global corporate influence. However, a closer examination reveals gaps, overgeneralizations, and omissions that require a more nuanced discussion of Southeast Nigeria’s economic reality.
This response analyzes, verifies, and refines the claims made in the article while providing a more balanced perspective on the Southeast’s economic strengths, challenges, and the path forward.
- Verifying Claims and Identifying Gaps
A. Economic Disparities Between Southwest and Southeast
Prof. Odoh argues that the Southwest has engineered a structured economy, placing its people in high-income and high-influence sectors while the Southeast remains anchored to trade and self-sufficiency models that are becoming obsolete. While there is truth to some disparities, the claim that the Southeast lacks structured economic engagement ignores its dominance in other industries.
For instance, in finance and corporate jobs, the Southeast is underrepresented, with fewer professionals in top firms like PwC, KPMG, McKinsey, and Accenture, while the Southwest dominates these sectors. However, in trade and manufacturing, the Southeast leads with established industrial hubs in Onitsha, Aba, and Nnewi. The Southwest, by contrast, has structured corporate infrastructure but relies more on service industries than direct trade.
In technology and startups, the Southwest has produced high-profile fintech unicorns like Flutterwave, Paystack, and Kuda, while the Southeast has fewer billion-dollar startups. However, Igbo-led companies like Risevest, Kippa, and TradeDepot are emerging in the tech space, showing steady growth.
In the entertainment sector, the Southwest dominates the global music industry, particularly Afrobeats, with leading artists such as Wizkid, Burna Boy, and Davido. However, the Southeast has an equally dominant role in Nollywood, controlling over 60% of film production, investment, and distribution. Nollywood is a billion-dollar industry that provides employment and contributes significantly to Nigeria’s GDP, yet it was omitted from Odoh’s analysis.
In terms of diaspora investment and remittances, both regions benefit significantly, though World Bank reports do not provide a clear breakdown of exact figures. The Southeast has strong global trading networks and substantial diaspora real estate investments, while the Southwest has more representation in multinational corporate firms.
B. Verifying Statistical, Claims
Several of the statistics in Odoh’s article require verification. For example, the claim that 7,000 out of 10,000 high-level oil and gas jobs belong to professionals from the Southwest is unsubstantiated, as the South-South region (Rivers, Delta, Bayelsa) is the actual hub of oil operations, not the Southwest. Similarly, the claim that 65% of financial services executives are Yoruba lacks empirical workforce data. While the Southwest is indeed influential in banking and consulting, no published workforce demographic report confirms this figure.
The statement that Lagos has produced 70% of Nigeria’s top tech entrepreneurs and secured $3 billion in startup funding is partly accurate, as Lagos is Nigeria’s recognized tech hub. However, the assumption that most founders are Yoruba lacks concrete backing. Igbo-led startups exist but are less publicized compared to dominant fintech unicorns.
The comparison of music industry earnings between Yoruba and Igbo artists is misleading. It is true that Yoruba artists dominate Afrobeats, but this is due to industry structure rather than talent disparity. Igbo artists like P-Square, Flavour, and Phyno have also seen massive success. Moreover, Odoh completely overlooks Nollywood, where the Southeast dominates and generates substantial wealth.
The claim that 50% of Nigerians in Ivy League schools are from the Southwest compared to 20% from the Southeast is unverified, as there are no published records tracking such ethnic distribution in global university admissions. Similarly, the diaspora remittances figures ($4 billion to the Southeast vs. $12 billion to the Southwest) are unsubstantiated, as World Bank reports do not disaggregate data by region.
- The Overlooked Strength of the Southeast: Nollywood’s Economic Dominance
While Prof. Odoh focuses on Southwest dominance in finance and technology, he ignores Nollywood, where the Southeast is a global force. Nollywood generates over $1 billion annually, making it one of Nigeria’s most lucrative industries, and Igbo investors, producers, and actors control the majority of its commercial output.
Unlike Afrobeats, where Yoruba artists dominate the global stage, Nollywood has successfully built structured film production hubs in Enugu, Asaba, and Lagos, largely driven by Igbo entrepreneurs. Films led by Igbo actors and directors often perform strongly on international streaming platforms like Netflix and Amazon Prime. Despite its economic power, job creation, and cultural influence, Odoh does not acknowledge Nollywood as a major Southeast asset.
Gotcha Question:
If the Southeast is economically stagnant, how does it dominate Nollywood, an industry worth over $1 billion annually, with more global reach than most Nigerian industries?
- Strategic Recommendations for Southeast Economic Growth
While Prof. Odoh calls for structured intervention, his solutions lack detailed implementation strategies. Here are refinements that could make a real impact:
- Expand Industrialization Beyond Trading:
Move from import-dependent trading to large-scale manufacturing by strengthening Aba’s industrial clusters.
Establish formal venture capital networks for Southeast manufacturers to expand into global markets.
- Formalize Igbo Tech Talent & Diaspora Networks:
Develop tech hubs in Enugu, Aba, and Owerri with structured investment.
Connect Igbo-led startups with diaspora venture capital and mentorship programs to scale globally.
- Leverage Nollywood’s Economic Power:
Build structured film investment funds to maximize returns.
Establish global distribution networks to expand Nollywood’s footprint internationally.
- Workforce Placement & Education Reform:
Instead of an undefined ₦500 billion education fund, focus on high-impact scholarships for Igbo talent in finance, tech, and global policy.
Form strategic workforce partnerships with top global firms to integrate Igbo professionals into elite institutions.
- Conclusion: A Balanced Path to Economic Transformation
While Prof. Odoh identifies real challenges in the Southeast, his argument is imbalanced and incomplete. The Southeast does not need to replicate the Southwest’s model but should instead refine and scale what it already excels at—trade, industrialization, Nollywood, and diaspora-driven investment.
Instead of dismissing the Southeast as lacking structure, a more accurate approach is to formalize and enhance its existing economic strengths.
Final Gotcha Question:
If the Southeast is economically weak, how does it dominate Nollywood, control major trade hubs, and sustain one of the strongest diaspora wealth networks in Africa?
Rather than copying the Southwest, the Southeast should leverage its unique economic strengths for long-term prosperity. That is the real key to bridging the divide.
