By‎ Henry Ojelu

A Nigerian banking professional and doctoral researcher, Oluwaferanmi Akinbola, has warned that one of the biggest obstacles to sustainable growth in Nigeria is the tendency to focus too heavily on isolated successes while ignoring deeper structural problems within the economy and institutions.

‎Speaking on the concept known as “halo error,” Akinbola explained that the issue continues to influence leadership, governance, economic planning, and business strategy across the country.

‎“Halo error happens when too much attention is placed on one visible strength while other important realities are ignored,” he said.

‎According to him, the concept often creates a false sense of progress, as one successful area begins to overshadow unresolved critical weaknesses.

‎“A leader may achieve success in one area and suddenly be seen as effective in every aspect of governance.

“A booming sector may also create the impression that the entire economy is performing well, even when deeper challenges still exist,” he explained.

‎Akinbola noted that Nigeria has repeatedly experienced this problem, particularly through its long-standing dependence on oil revenue.

‎“For decades, oil created a kind of halo around the Nigerian economy.
“Because it generated revenue and foreign exchange, it became easy to assume the economy was progressing sustainably,” he stated.

‎He, however, argued that beneath that perception were growing structural weaknesses, including rising unemployment, weak manufacturing, low industrial productivity, poor infrastructure, and excessive dependence on imports.

‎“The country became overly dependent on one major strength while many warning signs were ignored.

“That is exactly how halo error affects strategy. It narrows judgment and weakens long-term planning,” he said.

‎According to him, the same pattern can also be seen within governance and corporate leadership.

‎“Sometimes public officials are judged mainly by visible projects or strong public speaking abilities while institutional weaknesses, poor execution, and policy inconsistency remain unresolved,” he explained.

‎He added that businesses are equally vulnerable when they focus excessively on expansion or short-term profits while ignoring operational efficiency, employee welfare, customer satisfaction, and long-term innovation.

‎“In many cases, organisations continue celebrating growth while deeper internal problems quietly develop in the background until reality eventually catches up,” he noted.

‎Despite the risks associated with halo error, Akinbola believes Nigeria can still benefit significantly if leaders become more intentional about strategic thinking and objective evaluation.

‎According to him, understanding halo error could improve economic planning by encouraging policymakers to evaluate national development more holistically, rather than relying heavily on a single sector or on temporary economic gains.

‎“Nigeria has enormous opportunities in agriculture, manufacturing, renewable energy, technology, tourism, and the creative industry.

“Looking beyond oil would reduce vulnerability and create broader economic stability,” he said.

‎He further explained that avoiding halo error could strengthen public-sector decision-making by forcing leaders to ask more difficult, but necessary, questions before celebrating short-term achievements.

‎“Is economic growth translating into lower poverty levels? Are infrastructure projects improving productivity? Are policies sustainable beyond political cycles?

“Those are the kinds of questions that reduce strategic blindness,” he stated.

‎For Nigerian businesses, Akinbola believes the lesson is equally important.

‎“Strong branding or temporary profits should never replace proper risk assessment, innovation, customer feedback, and operational discipline.

“Organisations that avoid halo error tend to make more balanced and sustainable decisions because they examine both strengths and weaknesses honestly,” he said.

‎He also stressed that reducing halo error could help Nigeria build a stronger culture of accountability and evidence-based leadership.

‎“A country develops faster when decisions are based on facts and long-term realities rather than assumptions, emotions, or political sentiment.

“Strategic thinking requires objectivity and leaders who are willing to confront uncomfortable truths before problems become crises,” he explained.

‎Akinbola concluded by saying that Nigeria’s biggest challenge is not necessarily the absence of opportunities, but the tendency to overestimate isolated successes while neglecting deeper structural realities.

‎“Nigeria does not lack potential.
“Once the country begins to look beyond surface-level achievements and address foundational issues more honestly, the economy can become more diversified, resilient, and globally competitive,” he added.