SIR: In today’s world, many people are struggling with poverty, unemployment, and low income, especially due to poor governance and corruption in the civil service and government. However, even in the midst of these challenges, there are valuable lessons and opportunities that can be discovered. This is where the idea of “EXTRONOMICS” comes in.
[ad]
You won’t find the word “EXTRONOMICS” in any dictionary, and even Google doesn’t quite understand it. But it’s my own creation, and it stands for something special—something extra that we often overlook in people or things that seem useless at first glance.

There’s a similar word in the dictionary, “Extranomical,” which refers to something beyond the ordinary. Likewise, EXTRONOMICS means finding hidden value in places or people that others might dismiss. It’s about seeing potential where others see waste.

I came up with this theory while managing the Bottom of the Pyramid (BoP) consumer group—people who are often considered the poorest in society. When I worked as a Category Manager for the mass market at a major telecom brand, I was responsible for millions of subscribers, many of whom were part of this BoP group. Despite their low income, I realized there was so much value in understanding their behavior and creating products for them.

BoP refers to the lowest economic group in any population, often making up 50-70 per cent of people in developing countries like Nigeria. Despite their large numbers, they contribute little to the country’s GDP because most of them don’t have steady jobs or regular incomes. They often live day to day, relying on whatever small work they can find. This can make them seem “valueless” to some.
[ad]
But here’s the thing: there’s hidden value in everything, even in people who seem to have little to offer. You just have to change your perspective. Instead of focusing on what they lack, focus on what they contribute. These individuals are the backbone of society—they do the jobs others don’t want to do. Without them, many businesses and middle-class families would struggle to function.

Engaging with the BoP group requires strategy and compassion. They’re hopeful, religious, and often rely on communal support. They may not have much, but they aspire to a better life, and they believe in the power of luck and faith. We can learn a lot from them if we’re willing to look closer.

In the end, the so-called “valueless” people are some of the most valuable in society. They teach us humility, resilience, and the importance of community. So, next time you think something, or someone is useless, take a second look. There’s always something extra hidden within.

For more insights into this topic, feel free to reach out for a deeper exploration—not for free! Always remember, there’s value in what you might consider worthless. Just take another look!
• Tosin Agbelusi is Founder of Brand Measure([email protected]).
[ad]