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Over 259 Lives Lost, 625,239 Displaced As Flood Wreaks Havoc in Borno, Others: Govts. Lackluster Approach Blamed

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The National Emergency Management Agency (NEMA) has raised alarms over the devastating impact of flooding across Nigeria, revealing that 29 states and 172 local government areas (LGAs) have been affected, with over a million people impacted.

The alarms follow the devastating impact of flood in Borno State, following the collapse of the Alau Dam.

In an update at the National Emergency Coordination Forum (ECF) meeting, NEMA Director General Zubaida Umar shared the grim statistics, highlighting the agency’s ongoing efforts to manage the crisis. According to her, the flooding pattern aligns with predictions made by the Nigeria Hydrological Services Agency (NIHSA) in their Annual Flood Outlook, which had warned that between July and September 2024, 33 states and 135 LGAs would face high flood risks.

The agency said the flooding has displaced 625,239 people, claimed 259 lives, and left communities grappling with widespread destruction.

Despite the pre-warning, Borno State, which now grapples with its worst flooding in three decades, is said to be ill-prepared to mitigate the crisis. Floodwaters have ravaged the area after the Alau Dam overflowed due to heavy rains, leading to the displacement of hundreds of thousands and at least 30 fatalities.

Natural or Man-made Disasters?

This disaster has raised serious concerns about the state’s use of funds designated for flood control, as well as broader concerns over how ecological funds are utilized in Nigeria.

Borno State’s failure to adequately prepare for this year’s flooding crisis has drawn scrutiny, particularly as data reveals that the state received N816.34 million from the Ecological Fund between January and June 2024. The Ecological Fund, established to address environmental challenges such as flooding, erosion, and desertification, is meant to be a vital resource in states prone to natural disasters.

However, despite the increase in total Ecological Fund allocations to Borno, the state has only spent a fraction of it on flood and erosion control. A breakdown of the funds received shows a steady increase compared to 2023, with allocations for the first half of 2024 reaching N816.34 million—an 8.89% rise over the N749.68 million disbursed in the same period last year. Yet, despite these significant allocations, just N20 million, or 2.45%, of the total Ecological Fund has been spent on flood control projects in the first half of 2024.

This underutilization is a recurring issue. In 2023, despite allocating N1.042 billion for flood and erosion control, Borno spent none of it, leaving the state vulnerable to the disasters that have now wreaked havoc. The 2024 revised budget earmarked N1.653 billion for these purposes, but only 1.2% has been utilized, reflecting a concerning trend in the state’s failure to prevent floods.

Consequences of Inaction

The lack of investment in flood mitigation efforts is now taking its toll on Borno State, which has seen massive displacement and significant loss of life. Residents describe harrowing scenes as homes and livelihoods were washed away, with many seeking refuge in makeshift camps for internally displaced persons (IDPs).

Borno Governor Babagana Zulum, alongside the state’s emergency management teams, has spearheaded the response efforts, setting up IDP camps and providing relief to affected persons.

Umar commended the Borno State government for its prompt response in the aftermath of the floods but stressed that the lack of proactive measures had compounded the situation. She outlined NEMA’s intervention strategy, which includes deploying additional personnel for search and rescue operations, distributing water purification kits and critical rescue equipment, and providing food and non-food items to support displaced populations.

“Our agency, NEMA, is working tirelessly to assist those impacted by this disaster, and we assure the victims that sustainable support will be provided. We appreciate the collaboration of our humanitarian partners and stakeholders in addressing the crisis,” said Umar during the ECF meeting.

She added that NEMA’s efforts are nationwide, with multiple states receiving ongoing support.

While Borno State has been severely affected, the flooding crisis is nationwide, with NEMA confirming that 29 states have reported significant impacts from heavy rainfall and river overflow. The flooding has not only displaced people but also destroyed infrastructure, agricultural lands, and livelihoods.

In reviewing the situation, experts and environmental advocates point to the lackluster approach by government authorities in tackling the root causes of the recurring floods. Poor drainage systems, failure to enforce urban planning regulations, and delays in executing flood control projects are all contributing factors. Additionally, the underutilization of ecological funds in flood-prone states is described as a persistent challenge in Nigeria’s disaster management framework.

In light of the devastating impact of the current floods, there is a growing consensus that both state and federal governments need to adopt a more proactive and transparent approach to managing ecological funds. NEMA’s ongoing interventions are helping to provide relief, but experts have called for long-term solutions to be implemented to safeguard communities from the recurring dangers of flooding.

Nigeria Announces Centers for CNG Conversion in Lagos, Other States

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The Nigerian government is pushing forward with the Compressed Natural Gas (CNG) initiative designed to cushion the blow of rising fuel costs following the removal of subsidies.

As part of its Presidential Compressed Natural Gas Initiative (PCNGI), the government is offering free vehicle conversions to CNG for Lagos residents on Friday, September 13. This is part of a larger plan to ease the financial burden on Nigerians struggling with the soaring prices of petrol.

From 3 PM to 6 PM, vehicle owners at six designated centers across Lagos will have the opportunity to convert their petrol-powered cars to run on CNG, an alternative fuel that is significantly cheaper. The first 50 vehicles to pass inspection at each center will be fitted with free CNG conversion kits, allowing them to refuel at N230 per standard cubic meter (SCM) at any NIPCO station, which is a fraction of the cost of petrol.

This initiative is a direct response to the economic hardships brought on by the removal of fuel subsidies earlier this year. The removal sent fuel prices skyrocketing, with Nigerians facing unprecedented costs at the pump. In an effort to counteract this, the PCNGI was launched by President Bola Ahmed Tinubu in August 2023, aiming to introduce over 11,500 CNG-enabled vehicles and 55,000 conversion kits nationwide.

The Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, announced the upcoming free conversions via his official X (formerly Twitter) account, encouraging Lagosians to take advantage of the opportunity. According to him, this initiative will help ease the financial strain that rising fuel prices have placed on vehicle owners, allowing them to switch to a cheaper and more sustainable fuel alternative.

Designated Conversion Locations

To facilitate the conversion process, six centers in Lagos have been designated as official CNG conversion hubs:

  1. Femadec: Km 42, Lekki-Epe Expressway, Majek Second Gate Stop, Abiju Ibeju, Lekki, Lagos.
  2. Portland: No. 1, Ojota Interchange Terminal, Bayo Shodipo, Ojota, Lagos.
  3. Mezovest: KM 23, Lekki-Epe Expressway, Ajah, opposite Kilimanjaro, beside Libmat Motors, by Abraham Adesanya Bus Stop.
  4. Dana Motors: Dana Motors Ltd Kia Plaza, 117 Oshodi-Apapa Expressway, Isolo, Lagos.
  5. MBH Power: Km 5, Ikotun Road, Itamope, Ikorodu, Lagos.
  6. Autogig: Plot 144b Gbagada Expressway, Gbagada, Lagos.

The conversion exercise is also available in other cities. On the same day, CNG conversions will be carried out in Abeokuta, Ogun State, and Ibadan, Oyo State, from 3 PM to 6 PM. On Saturday, September 14, similar efforts will be made in Abuja and Kaduna.

Reducing Dependency on Petrol

The PCNGI is not just about providing immediate financial relief to Nigerian drivers. It’s a cornerstone of the government’s broader strategy to reduce dependency on petrol and move toward cleaner, more affordable energy.

CNG, which is significantly cheaper than petrol, is seen as a sustainable solution to Nigeria’s energy challenges. With CNG priced at just N230 per SCM, compared to the higher and fluctuating prices of petrol, vehicle owners can save substantially by converting their vehicles.

In addition to savings, CNG is also a cleaner fuel, producing fewer emissions and contributing to environmental sustainability. This aligns with global trends as nations around the world push for greener energy alternatives in the face of climate change.

Addressing the Impact of Fuel Subsidy Removal

Since the removal of the fuel subsidy in May 2023, Nigerians have been grappling with severe economic pressures as fuel prices nearly tripled. The subsidy removal, which was part of the government’s broader economic reforms, was necessary to curb rising national debt and unsustainable spending. However, the immediate effects have been tough, with many Nigerians struggling to cope with the sudden increase in fuel prices and inflation.

The government’s response, including the launch of the PCNGI, is aimed at alleviating some of this pressure. By offering free CNG conversions, the government hopes to provide vehicle owners with an alternative fuel option that is not only cheaper but also more sustainable in the long term.

Speaking on the initiative, the PCNGI committee noted that program is a critical part of the government’s strategy to mitigate the impact of the subsidy removal.

The government’s long-term vision goes beyond individual vehicle conversions. As part of the PCNGI, plans are underway to introduce a network of workshops across Nigeria to facilitate CNG adoption. This includes not only private vehicle conversions but also converting public transportation and commercial fleets to run on CNG.

In July 2024, PCNGI signed a Memorandum of Understanding (MoU) to convert one million commercial vehicles to CNG by 2027, identifying 2,000 workshops to support this project. The initiative is also working in collaboration with the Nigerian National Petroleum Corporation (NNPC) and NIPCO Gas to establish a nationwide network of CNG refueling stations, making it easier for Nigerians to access cheaper fuel alternatives.

This ambitious project is expected to create jobs, boost local manufacturing, and develop technical skills.

However, while the PCNGI represents a significant turning point for Nigeria’s transportation sector, offering immediate relief from the effects of subsidy removal, its pace has become a concern. The initiative which was announced more than a year ago, was expected to be widely by now, to alleviate the high cost of transport-induced suffering of Nigerians.

Meme Coins: A New Era Of Investment

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These meme coins are now widespread in the cryptocurrency market, attracting new and experienced investors. Usually based on internet memes and pop culture references, these coins have huge price appreciation and impressive community support. Some top meme coins include ADA, UNI, Jupiter, and Yeti Ouro (YETIO). This article also explains the current trends and investment fundamentals and identifies Yeti Ouro as the next investment crack.

1.  Cardano (ADA)

Cardano (ADA) is currently trading at $0.369, with a market capitalization of $27.44 billion. Although ADA has been progressing below its May 2022 high, it is still trading above 100— and 200-day moving averages. Cardano is a third-generation blockchain technology based on the PoS algorithm, characterized by energy efficiency and high security. ” It is designed to support financial services for the unbanked and serves smart contracts of decentralized applications (dApps).

Adding Cardano’s two-layered architecture increases its versatility, future-proof, and scalability. It is managed through nearly 3,000 distributed stake pools, thus the network’s decentralization. Cardano is designed with clear outlooks for complete decentralization, increased scalability, and better compatibility with other systems to become a revolution in blockchains.

2.  Uniswap (UNI)

Uniswap (UNI), at the time of writing, is priced at $6.74 and has a 24-hour trading volume of $ 145 million. Being an autonomous DEX based on the Ethereum platform, Uniswap supports the direct exchange of tokens integrated into the platform and their ERC-20 equivalents by relying on smart contracts. The platform utilization has expanded; overall, transactions came in at more than 14% higher, $5.7 billion in the same year, along with the legal settlement agreement with the U. S. Commodity Futures Trading Commission (CFTC).

Second, Uniswap has been launched with the proprietary token known as UNI, which provides token holders with the right to vote on the usage of the protocol’s treasury and further development updates. The fact that the platform is open for any token and has no restrictions regarding listing allows various tokens to start with more opportunities for investors to make good money. Uniswap is also planning to launch the third version of Uniswap, i.e., Uniswap V3, which will help increase the rate even more.

3. Jupiter (JUP)

The price for Jupiter (JUP) is $0.00093553, with the current market capitalization standing at $1.17 billion and a current circulation of 1.35 billion JUP. JUP is the governance token for the Jupiter aggregator that sits on the Solana blockchain; it facilitates swap trades in different liquidity pools to be efficient. New features integrated into Jupiter are perpetual futures, decentralized stablecoin management, and the LFG launchpad for new Solana projects.

JUP’s tokenomics contain a limitation in the maximum supply of tokens, which could set the stage for possible price increases in the future. Moreover, there are strong incentives on Jupiter through staking rewards and as a liquidity provision platform for long-term holders. Most analysts have estimated that the value of JUP could reach up to $3.51 by 2030, meaning high growth is expected to be achieved.

4. Yeti Ouro (YETIO): The Next Big Thing

Yeti Ouro (YETIO) is a project that differs from others as it links meme culture with functionality. Based on the Ethereum platform, it focuses on an upcoming game called Yeti Go, which belongs to the Play-to-Earn (P2E) genre. This makes it an appealing investment proposition since it caters to fun and a way of making money.

Yeti Ouro has had it audited by SolidProof, which focuses on smart contract audit and penetration testing. This guarantees the security and efficiency that is very important for attracting investors. The Yeti Ouro is at the presale stage 1, and nobody knows the lower prices of these tokens than the current ones. This puts the investors in a better position to purchase the company shares before the share price might have likely increased. The presale price of the tokens is $0. 012, giving traders a low entry level with the possibility of gaining 100 times their initial investment.

Yeti Ouro is presented as a promising meme coin that may provide significant gains shortly. Its sound environment encourages investment, and community backing plays a key role.

Conclusion

Considering the given options, Ada, UNI, and Jupiter are unique investment tools; therefore, the following meme coin is Yeti Ouro (YETIO). Yeti Ouro provides an ideal investment opportunity for high returns with this unique strategy, enhanced community support, and high growth prospects. Currently, the presale is done at $0.012, which is promising for Yeti Ouro, and this is the best time to invest in Yeti Ouro for those willing to see 100x returns shortly.

Join the Yeti Ouro Community:

Tekedia LIVE Begins on Saturday at 7pm WAT; Zoom Link In Class Portal

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Hello,

Greetings and welcome to Tekedia Mini-MBA edition 15. This may be the only reminder you may get. We do not send reminders here as already noted on the program news and update page https://school.tekedia.com/lesson/board15news/. Our live sessions are held on Tuesdays, Thursdays and Saturdays at 7pm WAT for about an hour; save those in your personal calendar.

The Live session of Tekedia Mini-MBA will begin on Saturday, Sept 14  at 7pm WAT. Our Lead Faculty  will kick start it with a lecture on the Mission, Purpose, and Why We Have Companies. He will extend the discussion into Business Growth and Building Category-King Companies. 

The Zoom link is in the classboard here https://school.tekedia.com/lesson/board15news/ .

  • Sat, Sept 14| 7pm-8.30pm WAT | Innovation and the Mission of Firms – Ndubuisi Ekekwe  

Note: if you have not set up your account, please visit this page https://school.tekedia.com/support/support/ ; remember to do STEP 3 to see your course under MY PROFILE. 

Again, welcome to Tekedia Institute.

Regards,

Team Tekedia Mini-MBA

4 Equations of Market

  1. Innovation =: invention + commercialization

  2. Great Company =: Awesome Products + Superior Execution

  3. Products =: Integrate(factors of production) d(people, processes & tools)

  4. Differentiate(great products)/d(time) = good life

https://youtu.be/7Uh8NHSENYI

Hype Vs Reality: Assessing The True Value Of Newcomer Altcoins!

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The world of meme coins is currently abuzz with excitement as new contenders like Yeti Ouro (YETIO) make their mark in the crypto ecosystem. What began as a niche filled with playful and often whimsical tokens has evolved into a competitive sector.

Established giants such as Dogecoin (DOGE) and Pepe (PEPE) have set impressive benchmarks. However, the critical question arises: Can these fresh entrants truly rival the established giants? Let’s take a look at the top options:

Pepe Unchained (PEPU)

PEPU has carved a unique niche in the meme coin landscape with its creative approach and strong community backing. Pepe Unchained is launched as a Layer 2 blockchain.

It has secured over $12.5 million during its presale, positioning it as one of the most successful campaigns of 2024. However, it’s important to acknowledge that it is still in its early stages.

Crypto All Star (STARS)

Crypto All Star has been making headlines with its promise of revolutionizing how we engage with cryptocurrency. It boasts an ambitious vision and a robust development team.

The token’s potential is certainly intriguing, but it’s still in its early stages. While STARS shows promise, its actual impact and ability to secure a substantial market share are yet to be seen.

BlockDAG

BDAG is another rising star in the meme coin galaxy. The concept behind BDAG is exciting, offering the potential for enhanced scalability and efficiency.

Despite its intriguing technology, BDAG still has a long road ahead. The success of a cryptocurrency is also based on its adoption and overall market positioning.

Yeti Ouro (YETIO) – The Next Big Thing

While the aforementioned tokens have their merits, it’s clear that Yeti Ouro is the one to watch. As the new kid on the block, Yeti Ouro is making a bold entrance into the meme coin space with an unique approach.

Here’s why Yeti Ouro is not just another meme coin but a potential game-changer in the space:

Innovative Play-to-Earn Model: Yeti Ouro is set to disrupt the industry with its Play-to-Earn (P2E) model. By merging crypto with gaming, YETIO aims to create a dynamic ecosystem where users can engage in exciting gameplay while earning rewards.

The launch of YETI GO, a pioneering P2E concept, positions Yeti Ouro as a frontrunner in combining entertainment with real-world value.

Robust Tokenomics: Unlike many meme coins that rely on hype for their valuation, Yeti Ouro has a solid tokenomics strategy. The project plans to burn 5% of its total supply of 1 billion tokens.

It will create a deflationary effect that could enhance the value of remaining tokens over time. Additionally, 15% of tokens are allocated for P2E, ensuring that the ecosystem remains vibrant and engaging.

Early-Bird Advantage: Yeti Ouro’s Pre-Sale Stage 1 presents a unique opportunity for early investors to secure their stake in the project. With 50% of the total supply reserved for this pre-sale, now is the perfect time to get in on the ground floor.

Validated Security and Innovation: The project’s commitment to security is reinforced by an audit from Solid Proof, ensuring that Yeti Ouro meets high standards of integrity and transparency.

Expansive Future Vision: Yeti Ouro’s future vision is both expansive and exciting. There are plans to integrate its token into various aspects of gaming, including in-game purchases, staking, and tournament entries.

Why Yeti Ouro Is the Coin to Watch

As we analyze the landscape of meme coins, it’s clear that Yeti Ouro is a powerful contender with huge potential. Yeti Ouro’s unique approach, Play-to-Earn model, and tokenomics position it as the next big thing in the industry.

Investors looking for the next breakout star in the world of meme coins should seriously consider the token. YETIO is not just riding the hype wave but is set to make a lasting impact.

Yeti Ouro – The Future Is Now.

Website: www.yetiouro.io

Connect with Yeti Ouro on Social Media:

X (Twitter) https://x.com/yetiouro

Telegram https://t.me/+5k5980ZVERc2YzE0

Discord https://discord.gg/YtUsEZ2ZrV