Two things: MTN Nigeria saw data consumption rising, year on year, over 59% in Q1 2020. Access Bank could eliminate up to 75% of its workforce (i.e. from 0.1% to 74.99%). Those two elements connect in one way: Nigeria and indeed Africa’s economies are being redesigned, and disruption is here at scale.
Covid-19 has accelerated something I had predicted would happen in 2022. I had written: “This shift will be massive …Many sectors in Nigeria will open up for massive dislocation and disruption … You need to plan ahead because 2022 is it.”
As our economy moves into this new age of digital nativity, unemployment will skyrocket because Nigeria has not been effective in using technology to open new opportunities. In America, for example, technology was not necessarily destroying jobs, but re-allocating jobs, as new jobs were created to replace dying ones. You see that in the low unemployment before the recent Covid-19 pandemic.
But here, jobs go and technology hardly creates many good ones. The implication is that more people are moving into poverty from the middle class. To help our community navigate through these changes, Tekedia Mini-MBA will be adding a new session on “Career Planning & Resilience During Disruption”. We will work to bring in an expert in this domain who can help our learners know what they have to do and prepare.
Meanwhile, registration continues; register to get free ebooks and free cybersecurity course on Facyber.com. We have extended the early bird registration with benefits deadline (click and register) to accommodate members who need help due to the pandemic.