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Tinubu Launches N25,000 Conditional Cash Transfer to 15m Vulnerable Nigerian Households

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Nigerian naira banknotes are seen in this picture illustration, September 10, 2018. REUTERS/Afolabi Sotunde/File Photo

The federal government of Nigeria has kicked off the disbursement of cash transfer to selected Nigerian households as part of efforts to ameliorate the impact of fuel subsidy removal.

The initiative, dubbed Renewed Hope Conditional Cash Transfer, was launched on Tuesday by President Bola Tinubu weeks after the federal government reached an agreement with organized labor unions to avert their proposed nationwide strike.

The launch of the conditional cash transfer for 15 million households coincided with World Poverty Eradication Day and was held at the Press Gallery of the State House in Abuja.

George Akume, the Secretary to the Government of the Federation, stood in for the President at the occasion.

Present were Betta Edu, the Minister of Humanitarian Affairs and Poverty Eradication; Wale Edun, the Minister of Finance; Shubham Chaudhuri, the Country Director of the World Bank; and Matthias Schmale, the United Nations Resident and Humanitarian Coordinator for Nigeria, along with other distinguished guests.

The cash transfer initiative aimed at assisting vulnerable citizens was first unveiled on October 1, during Tinubu’s inaugural Independence Day address to the Nigerian people on October 1.

Tinubu approved the payment of N75,000 to 15 million households, representing 62 million Nigerians, at N25,000 per month, for a three-month period from October-December 2023.

As part of measures to cushion the effect of fuel subsidy removal, the president also announced N35,000 only as a provisional wage award for all treasury-paid federal government workers for six months.

The Minister of Humanitarian Affairs said besides the unconditional cash transfer, another scheme code-named ‘Iya Loja Funds’ would be launched to provide soft loans of N50,000 to support petty traders. This, people say, is not different from trader-moni, a similar scheme introduced by Tinubu’s predecessor, Muhammadu Buhari.

Furthermore, Edu mentioned that as the upcoming farming season commences, farmers will receive incentives to enhance their agricultural productivity.

Nevertheless, there is significant apprehension among many regarding the government’s capacity to distribute cash transfers effectively, as there exists no dependable database to serve as the foundation for this initiative. However, Nigeria’s Finance Minister and the Coordinator of the Economy said a biometric auditing system would be put in place to ensure efficiency and accountability in the disbursement of the funds to beneficiaries.

The World Bank, which relentlessly urged Nigeria to remove fuel subsidy, has been an ardent supporter of the cash transfer initiative, providing an $800 million loan to the federal government earlier this year for that purpose. The Country Director of the World Bank, Chaudhuri, said his organization will continue to support the scheme.

How Talent Can Give Your Company A Competitive Edge

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The marketplace today is competitive, no doubt. And this is true no matter what industry you operate in. There will always be the older and bigger competitors who already have a dominant market share, as well as new entrants seeking to serve some minute percentage of the same market. So, it always feels like shooting oneself in the foot when an employer or founder leaves the best talent to hire someone less qualified, all in a bid to save cost.

In every skill, there is a top 20 percent, top 10 percent, top 5 percent, and top 1 percent. At the very least, you should target getting talents from the top 20 or even the top 10 percent. The value of exceptional talent cannot be overstated. By seeking out and nurturing the best individuals for your business, you can avoid costly mistakes and drive rapid growth.

Let me explain how talent can give you a competitive edge.

Problem-solving

When you recruit from the top 10 percent, problem-solving is no longer on you alone. With the creativity and problem-solving abilities they have acquired from previous jobs, they can help you spot opportunities, tackle challenges, and create inventive solutions that may have otherwise been overlooked. These talents come into the business with their depth of knowledge in a particular skill you already know you don’t have.

Quality work

Top talent in the top 10 percent will consistently deliver high-quality work. They are often very detailed and meticulous in their work, as they take pride in what they do. As a result, Your products, services, and projects will benefit from their commitment to excellence, ultimately leading to greater customer satisfaction. Also, you will be spared the headache of micromanaging them, and you can focus on what you do excellently.

Leadership and Mentorship

Great talents become catalysts for growth not just through their work but also through their influence on others. They can inspire and mentor team members, fostering a culture of continuous learning and improvement within your organization.

Avoiding Costly Mistakes

You don’t know it all, and even if you do, you can’t do it all. By hiring top talent, you bring in a certain level of experience and expertise instrumental in making sound decisions. Their insights can help you navigate complex challenges, mitigate risks, and avoid costly errors in judgment. By their efficiency level, they can also streamline processes and minimize the margin for errors, reducing the need for time-consuming revisions and costly delays.

Crisis Management

In times of crisis or unforeseen challenges, top talent can be your most valuable asset. Their ability to adapt, strategize, and lead effectively can make all the difference between a business that weathers the storm and one that falters.

Attracting investors

When investors want to put their money into your business, they are often interested in the quality of talents you have on your team. Great talent on the team means their funds will be appropriately managed to achieve business goals. Don’t shortchange by seeking the cheapest talent you can get. A talented team can instill confidence and facilitate opportunities for expansion and collaboration.

Establishing market leadership

The presence of the best talent on your team can quickly position you as a market leader. Plus, these exceptional individuals will drive innovations in your company in a way that will put you ahead of the competition.

Rapid growth and scale

Hiring the best talents can help you grow faster and quickly adapt to the challenges that come with scaling. Also, the presence of top talents is more likely to attract additional high-caliber team members

What do you do if you cannot afford to pay them?

Some people may quickly say top talent is expensive, and a company may be unable to afford them at a certain point. Here are some options to consider in such a situation.

  • Consider a part-time or flexible work arrangement. This could mean having them give you one day a week or whatever other terms you agree to.
  • Hire them to consult and design a system for you. When they have done this, you can now have other team members work with the system they have designed. You can hire them to offer occasional training to the team members.
  • Offer them a profit-sharing model and what you can afford to pay them. Analyze your business and evaluate what you can save or make extra profits by having them on your team, then offer them a percentage.
  • Partner with them. This is another good way to engage top talent at the very early stages of the business. You can bring them on as partners and offer some percentage ownership in exchange.

In Summary

Don’t settle for less. Engaging top talent should be at the forefront of every employer and founder’s strategy. There will always be a way to get the best talent on board if you look for it. The impact of exceptional individuals on your business’s success cannot be underestimated. The competition is relentless, and if you must grow, you must go on the journey with the right people.

How Can I Earn Money Online – How to make extra money

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Cloud mining is a popular choice for cryptocurrency enthusiasts looking to earn passive income without the hassle of hardware and high electricity costs. Learn how to get started with TokenCoin Miners and their unique features, including mining contracts and an affiliate program.

As an increasing number of individuals enter the cryptocurrency space, mining has become more complex, demanding substantial computational power. Consequently, many who once mined cryptocurrency with their own hardware now find it unsustainable due to high electricity costs and hardware wear and tear. Cloud mining has emerged as an attractive alternative.

What Is Cloud Mining?

Cloud mining is a mechanism for mining cryptocurrencies like Bitcoin using leased cloud computing power, eliminating the need for hardware installation and direct software operation. Cloud mining companies allow people to set up accounts at minimal costs and participate remotely in the cryptocurrency mining process, enabling a wider global audience to engage in mining. As this form of mining is conducted via the cloud, it mitigates concerns about equipment maintenance and direct power costs. In summary, if you seek a truly hands-off investment experience, cloud mining is the right choice for you.

Getting Started with Cloud Mining:

Step 1: Choose a Cloud Mining Provider

TokenCoin  is a popular and robust cryptocurrency mining platform, offering an excellent resource for earning passive cryptocurrency income. As one of the world’s leading mining companies, they are a trusted partner. To take it to the next level, TokenCoin  has introduced a free Bitcoin mining program that allows you to passively earn Bitcoin. They promise to make Bitcoin mining accessible to everyone, regardless of technical knowledge or financial means, without any additional conditions. Once you’ve mined $100 worth of Bitcoin, you can transfer them to your account and start trading. Any profits you earn are yours to withdraw to your personal wallet.

Platform Advantages:

Register and get an immediate $10 bonus.

High profit levels and daily payouts.

No other service or management fees.

Users can generate over 6 different currencies on the platform.

The company’s affiliate program allows you to refer friends and earn up to a 3% referral bonus.

Backed by EV SSL data protection, DDoS security, a 100% uptime guarantee, and excellent 24/7 technical support.

Step 2: Register an Account

With an increasing number of players entering the cryptocurrency field, mining has become more complex, demanding greater computational power. As a result, many who previously mined cryptocurrency with their own hardware now find it unsustainable due to high electricity costs and hardware wear and tear.

Step 3: Purchase Mining Contracts

Currently, TokenCoin  also offers various mining contract options, such as packages of $100, $500, and $1000. Each has a unique investment return rate and a specific contract period.

When participating in these contracts, you unlock more passive income:

Earn income as soon as the day after purchasing a contract.

When your income reaches $100, you can choose to withdraw to your cryptocurrency wallet or continue to purchase other contracts.

Affiliate Program

TokenCoin  has also introduced an affiliate program that allows you to earn money by referring others to the website. Even without investment, you can start earning. After inviting a certain number of active referrals, you can earn up to a 3% bonus. With unlimited referrals, your income potential is limitless! 

Conclusion:

If you’re looking for a way to increase passive income, cloud mining is an excellent choice. When used correctly, these opportunities can help you maximize your cryptocurrency wealth in “autopilot” mode, requiring less time than any type of active business. Passive income is the goal of every investor and trader, and with TokenCoin , you can easily maximize your passive income potential.

For more information about TokenCoin , please visit their official website at www.tokencoin.net.

Email: info@tokencoin.com
Twitter:https://twitter.com/TokenCoinNet

Youtube:Twitter:https://twitter.com/TokenCoinNet

Interrogating Omokri’s Thesis on Bridging the Skill Gaps in Nigeria

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As usual with him, Mr. Reno Omokri has thrown another jab at the Nigerian University System. This time around, his target was the Nigerian educational system. He handpicked some courses and condemned them as useless because, according to him, those courses do not offer any skills or employment value after graduation. He charged:

Instead of spending four years reading a course like sociology, philosophy, anthropology, political science, library science and so on at university! Just go and learn a high income skill like nursing, cloud computing, blockchain engineering, artificial intelligence, web design, coding, programming, ethical hacking, and analytics! Between six and eighteen months. You will earn more in a lifetime than most university graduates. The world has changed. Many university courses have expired. They belong in a museum. Maybe a few people can read them to preserve some knowledge, But when you have hundreds of thousands studying them at degree level, they will never find real life applicable jobs for those degrees. And they and their courses end up being a drain on society. Get a skill instead of a semi-useless degree! And stop looking for loopholes. Those courses are dead and gone. They are like aerial cameramen. You cannot streamline an aerial cameraperson to compete with a drone. Accept reality and make better educational choices, and stop putting good money behind lost causes. Truth is bitter, but better!

This outburst had gone viral and sparked the usual conversation around how unemployable Nigerian graduates are and the need to change the downward movement of values accorded to Nigerian tertiary education certificates. Sadly, his thesis is partially and bitterly true. What is true is the fact that those courses are not really equipping students with the in demand job skills, both soft and hard, and especially digital skills to make them relevant to the reality of the workplace and society today. However, it is equally truer that the courses he mentioned are not the only ones in trouble. Almost all the courses offered in Nigerian universities except for few are in this category. From Mass Communication to Computer Science to Economics, the story remains the same.

What is not true is that the courses are useless or dead. It is the way they are being taught or floated in Nigerian universities that has made them appear so.   For example, I checked the Department of Sociology at Harvard University, what I saw amazed me. The welcome page shows an understanding of the reality of the present era. The opening reads:

The Department of Sociology at Harvard has a rich and varied history. Its faculty are deeply committed to the development of sociological theory in the service of addressing fundamental sociological questions about the empirical world. The Harvard department of the 21st century is characterized by unsurpassed methodological breadth and depth, with faculty and students engaged in a variety of approaches to research including surveys, ethnography, in-depth interviews, big data, social demography, causal inference, and historical archival work. Deep engagement with central social issues in the American landscape such as racial inequality, gender discrimination, violence, and mass incarceration is coupled with expertise in political, economic, and social and cultural issues in other parts of the world such as Latin America, Asia, and Europe. We invite you to explore sociology at Harvard.

I also visited the Oxford University’s Department of Philosophy’s web page. I marveled at what the university has made of philosophy, a course that Omokri pronounced completely dead in Nigeria. Oxford combined philosophy as a subject with other relevant subject matters. So, if you want to study Philosophy at Oxford, you have a range of options to select from: Computer Science and Philosophy; Mathematics and Philosophy; Philosophy and Modern Languages; Philosophy, Politics and Economics; Philosophy and Theology; Physics and Philosophy as well as Psychology, Philosophy and Linguistics.

If these two universities are considered to be in the global North and are leading global institutions, what of the Department of Politics Studies in the University of Witswaterstrand. On the page, I was particularly impressed by the claim of the department that:

The study of politics has traditionally been concerned with the relations between the state and its subjects. While these remain important, the scope of political studies has broadened to include: Associations such as business corporations; Development; Gender;Identity politics;Political parties; Power relations; Public Policy; Social movements; Trade unions and labour relations”

What my voyage to these three universities confirms is the fact that the courses listed in Omokri’s career advice are neither dead nor useless. The Nigerian universities have to change the mode, curriculum and the focus of these courses. There is an urgent need to deliver these courses in such a manner that the graduates would be equipped with skills that solve societal problems. The Nigerian University System has to find a way to manage the pool of talents on the campuses in order to stop the barrage of criticism of the Nigerian graduates are not employable. There is a list of other urgent reforms that should take place to make Nigerian universities more productive and impactful in educating the students of today.

Creative Implementation of the new CCMAS

The Core Curriculum Minimum Academic Standards (CCMAS) is the new curriculum that universities in Nigeria should kick-start its operations in the 2023/2024 academic session. This new document has come to gradually replace the old Benchmark for Minimum Academic Standards (BMAS). The curriculum has a number of new features for university education in Nigeria. It has expanded the number of faculties run by the universities from 14 to 17 with the unbundling of 3 courses to make them faculties. Apart from this, the new curriculum also changes the architecture of entrepreneurship with the introduction of innovation and ventures management as well as stipulating contemporary employability skills for each faculty and department. So, it is a new dawn for the Nigerian education system. However, it is important to understand that the curriculum is just a document. We have seen its richness in content, but its success and impact is dependent on how well it is implemented. Therefore, the operators of the Nigerian universities have to find a way to creatively implement the curriculum to address the current gaps.  The challenge now is how to teach innovation and venture management to spark change. How do teachers, who are the final implementers of the curriculum, teach the courses to reflect the current employability skills as captured?

Adopt a New Approach to Entrepreneurship

For keen and concerned observers, the current entrepreneurship curriculum taught in the Nigerian University System is not reflective of the needs of the country. In the words of Prof. Lukman Raheem, a professor of Entrepreneurship, the Nigerian University System runs an entrpreneusrhip programme that is generally called Subsistence Venture Creation. According to the scholar of entrepreneurship, subsistence venture creation is “the development of entrepreneurs who primarily focus on meeting their basic needs and those of their families. Their main goal is to generate enough income to sustain their livelihoods selling Indomie Noodles and Puff-Puff, and they often operate in traditional or low-growth sectors.” On the other hand, the NUS should run a Productive High-Impact Entrepreneurship programme which aims to create innovative and scalable businesses that have a substantial impact on the economy and society. High-impact entrepreneurs often seek to address major market gaps or societal challenges and are driven by growth and expansion.

Create an Innovation Hub to Support the Startup Ecosystem

Nigerian universities should realize the importance of an innovation hub on their campuses.  Described as a physical space that brings together researchers, creators, and innovators to nurture ideas into industry-changing products and services, a well-run innovation hub on a campus would provide a platform for both researchers, students, creators and innovators to ideate, incubate, develop and accelerate their ideas.  While some universities could run their hubs on their own, others could partner with innovation companies like Opolo Global Innovation Limited with hubs in universities across Nigeria. Almost all the government agencies are talking about innovation hubs now. From the Ministry of Science, Innovation and Technology to TETFUND, the focus now is a hub. When the amount of talents that abound on the Nigerian campuses, untapped, are taken into consideration, having an innovation hub on campus is the way to go. As a matter of fact, it would support the implementation of the innovation and venture management component of the new CCMAS.

Allow Industry Experts to be Part of the Teaching Faculty

To address the industry rustiness of students graduating from Nigerian universities, making experts from the industry facilitators would a game changer. This move would expose the students to industry practices and make them industry ready. It would also make industry professionals part of the teaching. This would improve learning and address the classroom-workplace gap.

Huawei Mate 60 Pro Winning Chinese Markets for Huawei Over Apple iPhone

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When a bird leaves the ground and perches on the ant-hill, it is still very much on the ground. Yes, that Huawei has overtaken Apple in China, on Android, is more of the same: America’s technologies remain catalytic in Huawei’s roadmap since Android* is American.

I see this as a win for Google’s Alphabet than Huawei: “A recent report by Jefferies analysts has revealed that Huawei has dethroned Apple’s iPhone from its position as the smartphone market share leader in China. According to the analysts, it reports that smartphone sales in China have shown positive growth year-over-year driven by high double-digit growth in Android sales led by Huawei, but Apple’s iPhone has seen a significant double-digit decline.”

Of course, you cannot take away the exuberance which Huawei Mate 60 Pro is bringing with its satellite capabilities. It does make it clear that if Apple iPhone should be considered a category-king, its next major update must have satellite features. And when that happens, a new era of smartphone usage will begin. Yes, terrestrial telcos will lose local comparative advantages, and the real best will then win.

Huawei on the power of Mate 60 Pro will capture a lot of market share from Apple iPhone in China, over the next few years, if Apple does not respond fast enough.

Things happen but you would not have expected that Huawei could come back within years, to be put in the same bucket as Apple, considering that it was on ground zero about two years ago. Yes, Huawei Mate 60 Pro is now seen as a generation leading smartphone for some remarkable breakthroughs it has inside it: “Huawei’s chip breakthrough poses new threat to Apple in China”, CNBC wrote.

Legally, you are correct. But technically, HarmonyOS runs on AOSP (Android Open Source Project) components. You can remove that A to decide if HarmonyOS will exist without Android! Yes, you can decide if there would be HarmonyOS without AOSP!

Comment on my last post on Huawei: How is Huawei using AOSP (Android Open Source Project)  a win for Alphabet (Google parent) when the technology is not licensed to Huawei? Google is not counting activation licenses of Huawei Mate 60 phones and other Huawei brands. You need to understand the difference between Android and AOSP as well.

My Response: Microsoft intentionally made its Windows to be breakable as China was adopting Linux at scale. By making it easy to clone, Chinese then avoided Linux and went with the “free” Windows. A few more years later, Microsoft asked the Chinese to pay $1 to get the real deal. Chinese users did, and Linux went to the museum for personal computing. Today, China is a Windows nation, not a Linux one when it comes to personal computing. Google* benefits because AOSP is a scion which keeps the Android brand alive in China despite sanctions. Sanctions will go one day and Android will evolve.