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Revolutionizing Nigerian Higher Education: 6 Imperatives for University Innovation in 2024

By
Rasheed Adebiyi
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0

In the rapidly evolving landscape of higher education, Nigerian universities stand at a crucial juncture. The dawn of 2024 beckons a transformative era where innovation isn’t just a choice but an imperative. To stay relevant and empower the next generation, universities must embark on a paradigm shift, redefining their approaches to curriculum, talent management, entrepreneurship, innovation hubs, the town-and-gown and internally generated revenue dynamic.

  1. Curriculum Transformation

The crux of academic evolution lies in reshaping the curriculum. Nigerian universities must pivot from concept-centered learning to application-focused education. Both undergraduate and postgraduate levels necessitate a recalibration, emphasizing practical skills alongside theoretical knowledge. This shift not only empowers students but also addresses the phenomenon of “Japa syndrome” by making local education more impactful and aligned with real-world demands. The Core Curriculum Minimum Academic Standards (CCMAS) of the NUC has significantly assisted to open up the system. With the CCMAS, there could be more flexible, innovative and impactful education.

  1. Talent Management Reinvention

The current generation harbors immense potential, especially in technological innovation. Nigerian universities must revamp their talent management strategies to harness and nurture this potential effectively. The Students Affairs Unit should be empowered to better identify, support, and cultivate these techpreneurs and digital enthusiasts, recognizing their potential to not only contribute to the university but also generate substantial income streams. As it is, there are a lot of enterprises run by students on campus which the management does not know about.

  1. Revamped Entrepreneurship Programmes

Gone are the days of conventional entrepreneurship programs limited to traditional ventures like car washes or snack-making enterprises. Universities must introduce highly innovative entrepreneurship programs tailored to address contemporary challenges. Emphasizing digital and innovation-friendly approaches, these programs should encourage problem-solving, fostering a new breed of entrepreneurs equipped to tackle real-world issues.

 

  1. Establishing Innovation Hubs

The establishment of innovation hubs within Nigerian universities is paramount. These hubs serve as epicenters for entrepreneurial growth, providing students with spaces to ideate, incubate, develop, and accelerate their innovations. Moreover, these hubs can serve as bridges, connecting students with venture capitalists who can provide crucial funding for their projects.

  1. Redefining Town-and-Gown Relationships

In 2024, the traditional concept of town-and-gown must undergo a profound transformation. It’s not merely about the separation between academia and the community; instead, it’s about forging collaborative partnerships. Nigerian universities should integrate with their local communities, fostering mutually beneficial relationships that facilitate knowledge exchange, problem-solving, and societal progress.

 

  1. Re-Directing Revenue Generation towards Green Business

In tandem with innovation, Nigerian universities must pivot their revenue-generation strategies towards sustainable, green business initiatives. Embracing eco-friendly practices and investments in renewable energy, waste management, and environmentally conscious infrastructure can not only generate income but also instill a culture of environmental responsibility among students and faculty.

This shift towards green business aligns universities with global sustainability goals while opening doors for research, partnerships, and grants in the burgeoning field of environmental innovation. It offers a dual benefit of fostering economic growth and nurturing ecological stewardship, creating a more holistic approach to university finances while contributing positively to society’s well-being.

The onus is on Nigerian universities to pivot swiftly towards innovation in 2024. By reimagining their curricula, revamping talent management, fostering entrepreneurial mindsets, establishing innovation hubs, and redefining their roles within the community, universities can catalyze a paradigm shift. This transformation doesn’t just enrich educational experiences but also nurtures a generation equipped to confront and solve the challenges of a dynamic world. As the calendar turns, it’s not just a new year; it’s a new chapter for Nigerian higher education—one fueled by innovation, empowerment, and relevance.

Is This The Best Presale Of 2024? Top Analyst Says Pushd (PUSHD) Could Overtake Solana (SOL) And Cardano (ADA) In 2024

By
TI Partners
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0

The cryptocurrency landscape of 2024 is seeing a striking development with the emergence of Pushd (PUSHD), a new player that’s quickly catching the attention of the crypto community. Amidst this, coins like Solana (SOL) and Cardano (ADA) are facing challenges in maintaining their market dominance.

The current market dynamics show a clear shift towards utility-based tokens. Pushd (PUSHD), with its revolutionary approach to decentralized online marketplaces, is at the forefront of this shift. It’s not just about trading cryptocurrencies anymore; it’s about creating real value and utility.

Pushd (PUSHD)’s platform allows users to conduct transactions without the hassle of traditional KYC processes, making it a game-changer in the e-commerce sector.

Solana (SOL) in 2024: Market Dynamics and Future Outlook

In 2024, Solana (SOL) continues to be a standout in the cryptocurrency market, recognized for its high-speed blockchain capabilities. Known for processing up to 65,000 transactions per second at low transaction costs, Solana (SOL) has established itself as a significant player in the DeFi, NFT, and Web3 sectors.

Despite these technical strengths, Solana’s (SOL) market performance has been characterized by volatility, experiencing both notable growth and corrections. This fluctuation mirrors the broader trends in the cryptocurrency market and underscores the challenges faced by leading platforms in maintaining stability.

Looking ahead, Solana’s (SOL) path of growth and innovation hinges on overcoming key challenges, particularly enhancing security protocols and implementing rigorous vetting of projects. This focus is crucial for reinforcing the ecosystem’s resilience, especially in response to the vulnerabilities revealed by scams within the meme coin market.

Successfully navigating these challenges and continuing to capitalize on its technical advantages could enable Solana (SOL) to maintain or even enhance its position in the competitive crypto market.

Cardano (ADA) in 2024: Emphasizing Sustainability and Security

Cardano (ADA), known for its distinct approach to blockchain technology, continues to make its mark in the cryptocurrency world with its strong emphasis on sustainability, security, and rigorous research and development. Its blockchain technology is distinguished by a thorough, peer-reviewed process, setting it apart in a space often marred by rapid, unchecked developments.

In terms of market performance, while specific details for 2024 are not readily available, Cardano’s (ADA) historical trajectory reveals a pattern of steady growth and resilience. This is largely due to its robust security features and the flexibility of its blockchain in supporting a diverse range of decentralized applications and services.

Looking forward, Cardano’s (ADA) ongoing adaptation to the changing dynamics of the cryptocurrency market and its commitment to continuous innovation and improvement are key to its enduring relevance and success. This steadfast focus on sustainable development and secure operations positions Cardano (ADA) to maintain its status as a significant player in the crypto sector.

Pushd (PUSHD) Is Set To Overtake Solana (SOL) and Cardano (ADA) In 2024

Pushd (PUSHD), a decentralized e-commerce platform, is turning heads in the crypto space. Its presale, priced attractively at $0.035, has garnered significant attention, marking over 3,000 sign-ups within the first 48 hours. This surge reflects a growing interest in cryptocurrencies with real-world applications, a trend that seems to be shaping the market’s direction in 2024.

Top analysts suggest that Pushd (PUSHD) could potentially overtake giants like Solana (SOL) and Cardano (ADA). The reasons are multifold:

  • First-Mover Advantage: As the first decentralized e-commerce platform, Pushd (PUSHD) is breaking new ground in the crypto world.
  • Market Potential: The e-commerce sector is rapidly growing, and Pushd (PUSHD)’s alignment with this sector positions it for significant growth.
  • User-Friendly Features: Pushd (PUSHD) reduces transaction times and fees for both vendors and buyers, addressing some of the major pain points in current e-commerce platforms.
  • Investor Benefits: Presale investors in Pushd (PUSHD) are not just investing in a cryptocurrency; they’re investing in a platform with the potential to revolutionize e-commerce.

This could be the beginning of a new era in the crypto market, where platforms like Pushd (PUSHD) redefine what it means to invest in digital currencies.

For more information about the Pushd (PUSHD) Presale, visit their website.

Sub-Saharan Africa Remains The Region With The Highest Remittance Cost, Nigeria Leads in Ranking – World Bank Report

By
Ojukwu Emmanuel
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0

A recent World Bank report has revealed that Sub-Saharan Africa remains the region with the highest cost of remittance.

The cost of sending money to countries in the region from the diaspora, rose in 2023, with fees reaching up to 36% for every $200 sent from abroad, which saw it maintain its position as the most expensive region to send money for the 15th consecutive year.

In a year-on-year analysis, there was a slight increase in the average cost of sending $200 to sub-Saharan Africa, rising to 7.9% in the second quarter (Q2) of 2023, from 7.8% in the same period in 2022.

Part of the World Bank report reads,

“Sub-Saharan Africa remains the region with the highest remittance costs. The average cost of sending $200 to the Sub-Saharan Africa region slightly increased, averaging 7.9% in 2023Q2 compared with 7.2% in 2022Q2. A stable price has been observed in remittance costs in the region since 2021, but this average remains far above the global average of 6.9% and the SDG target of 3% by 2030.

“Costs vary substantially across the region, ranging from 1.3–4.5% in the lowest cost corridors to 17–36%  in the highest. For example, sending $200 in remittances from Tanzania to neighboring Uganda would have cost a migrant 39.1% in 2023 Q2”.

According to the report, Nigeria leads in the ranking of countries in SSA with the highest remittance cost. The country topped remittance recipients in 2023 with $20.5bn, accounting for a major portion of remittance flows to the sub-Saharan African region.

Nigeria was followed by Ghana and Kenya, accounting for $4.9bn and $4.2bn respectively. According to the World Bank, the global average cost of remittances to the region is still high, at above 6.9 percent.

The bank further highlighted traditional banks as a major contributor to the increase in remittance fees, which are being identified as the entities charging the highest costs.

Banks continue to be the costliest channel for sending remittances (with an average cost of 12.1%), followed by post offices (7%), money transfer operators (5.3%), and mobile operators (4.1%).

“Banks charge the highest costs, thus emphasizing the importance of cross-border mobile money transactions. In Kenya, Rwanda, Tanzania, and Uganda, such transactions are constrained by limited interoperability among telecom operators and money transfer operators,” the World Bank added.

However, the Bank expressed concern that remittance costs remain high, which saw Dilip Ratha, a World Bank lead economist disclose that in recent years, remittance flows to developing countries have surpassed the sum of foreign direct investment and official development assistance.

The implication is that migrants lose hard-earned millions of dollars annually in remittance charges. Meanwhile, while there are concerns about the high cost of remittance to Sub-Saharan Africa, recent reports suggest that Nigerian banks will impose an electronic money transfer levy on foreign currency inflows equivalent to N10,000 and above from January 2024.

This initiative is anticipated to worsen the high cost of remittance, potentially diverting more forex transactions to unofficial markets.

9 Bites – from the first Cherry Series of New Year!

By
John Mc Keown
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0

Orbit Bridge Exploit

Orbit Chain, a platform that communicates and transacts with various blockchains, has lost $81 million after hackers exploited the platform’s cross-chain bridge.

Proceeds of the hack were then sent to numerous Ethereum wallets, with $64 million in ETH and around $18 million of the DAI stablecoin.

DefiLlama data shows that total value locked (TVL) on Orbit Chain dropped from $152 million to $71 million.

Cryptocurrency users lost nearly $2 billion to scams, rug pulls and hacks in 2023, according to security app De.Fi.

More evidence that the EVM Compatible Ecosystem should be avoided for 2024, unless you like being burnt.

The only way to keep ‘0x’ assets safe is to reverse engineer existing wrapping technologies and then ‘wrap’ them according to protocols EVM Compatible systems can’t understand.

If your ‘wrapped’ result is hashed to something which Metamask, Coinbase Wallet, Trust Wallet, Exodus, Guarda etc can’t understand or accommodate, well done! You are probably secure!

Obscurity = Security!  – The less travelled road!

Source – coinchapter

Biggest losers of followers among the SM/Platform Silos in 2023

The two biggest losers in membership among the ‘silos’ last year were Instagram and Snapchat. Instagram notionally lost 1 million members from its 2.4 billion base.

Much of the loss to Instagram was as a result of the migration to the new challenger to Twitter (now X) – Threads.

Snapchat lost 130k, but that’s from a 750m user base.

Online searches on how to delete specific platforms were used to develop metrics for intent. The platforms concerned have not acknowledged the figures.

Changes to Python

Python 3.13.0a2 has brought some great new features. One of the previous limitations of Python was seen to be ‘programming bandwidth’.

Changes to the way Python works will be the equivalent to ‘multi-threading’ in processors.

Source – Savi , simplification of analysis report by Andres Pineda

Lucy

Lucy is an integration AI technology that was previously confined to VR Metaverses.

It’s recently broken out into ‘blockchain’ technologies with an application spread across L1s, L2s and dApps.

The agent ensures a secure network connection through technologies like account abstraction and ZKP.

A big plus is users can interact with Lucy using natural language.

Lucy focuses on an ability to support trade and finance critical decisions from LLM (Large Language Model) abstracts with far greater accuracy than typical AI Chat can.

Lucy claims to provide all the essential details, including execution steps and potential fees, allowing the user to make an informed decision.

If you want further info on Lucy, try messaging Yannick Myson
Yannick@delysium.com

Note that it is a B2B product though, not consumer.

Source – Benzinga

Rise of ‘Advertorial’ pumping has begun in earnest in 2024

Are we really in a bull market at all? The only people that seem to be heralding this bull market seem to be content creators (who want something to write about) and VC professionals (who are broke and need an environment conducive to new deals).

Amid this, we seem to have some ‘Advertorial’ content in the crypto/web3 space, particularly in the ‘D List’ rags, which are suspiciously converging on some notable suspects.

Retik Finance seems to be one. Scapesmania seems to be another.

This is anything but a ‘buy recommendation’. DYOR, and then go to your granny’s house and get her dog to do his as well. Don’t ask FOMO DOG though. He will give a buy recommendation on anything!

RSI – Relative Strength Index

Not exactly news, but a little gift from the first ‘Cherry Bites’ series of the year, to folk that are prone to ‘gambling’ on cryptocurrencies.

‘RSI measures the speed and magnitude of a security’s recent price changes to evaluate overvalued or undervalued conditions in the price of that security.

The RSI is displayed as an oscillator (a line graph) on a scale of zero to 100

The RSI can do more than point to overbought and oversold securities. It can also indicate securities that may be primed for a trend reversal or corrective pullback in price. It can signal when to buy and sell. Traditionally, an RSI reading of 70 or above indicates an overbought situation. A reading of 30 or below indicates an oversold condition.’ – Investopedia

RSI is very relevant to cryptocurrencies.

Elumelu emerges as Investment and Holdings King for Nigeria in 2023

Companies related to Tony O. Elumelu, C.F.R closed 2023 as one of the top performers of the year.

Combined market capitalization was N1.6 trillion, one of the largest gains for a group of companies owned by a billionaire on the NGX.

Transcorp Group, Transcorp Hotels Plc, UBA, Africa Prudential Plc, and United Capital Plc, all listed companies, are associated with Mr. Elumelu where he has majority ownership.

The companies ended the year with a combined market valuation of N2.1 trillion compared to N467 billion at the start of the year, roughly N1.6 trillion in additional value. – Nairametrics

Kyrgyzstan Government raked in almost $900k in tax revenue from Miners in 2023

Kyrgyzstan’s Finance Ministry reports a substantial surge in tax revenue from cryptocurrency miners. In the first 11 months of 2023, the government collected an impressive 78.6 million soms, nearly $883,000, showcasing a remarkable increase in comparison to the previous year.

In 2022, Kyrgyzstan’s revenue from crypto mining stood at 11.1 million soms, or $133,200. The exponential growth observed in 2023 sets the stage for a deeper exploration of the dynamics behind this significant increase in tax revenue.

The Munger Token

Charles Thomas Munger (January 1, 1924 – November 28, 2023) was an American businessman, investor, and philanthropist. He was vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett

Good old Charlie, a serial cryptosceptic, had a memetoken named after him.

It was minted 15 minutes after the billionaire crypto-hater Charlie Munger’s death, and  soared by more than 31,000% on Wednesday as speculators flocked to decentralized exchanges with millions of dollars’ worth of ether (ETH) and stablecoins.

The EVM Compatible MUNGER token subsequently lost more than 98% of its value on Thursday after details emerged around the token’s smart contract, which had erroneous functions programmed that allowed developers to restrict the sale of the asset.

Munger had the last laugh on ‘crypto’ from beyond the grave! – Source Coindesk

Every Dude and his Dog Poop we didn’t cover –

  1. Count down to ETFs (We already know they will happen)
  2. SBF not being charged on some counts (yeah err.. ok.. but he’s been convicted of enough to put him away for about 700 years, why do we even need to cover this?)
  3. Bitcoin put on another few %. Yeah… sort of ok but!

What we didn’t do, and someone might consider –

Why maybe Greyscale, Ark, or Pantera might make better candidates to do ETFs than the likes of JP Morgan.

 

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Nigerian Government Announces Plan to Rely Less on Borrowing, And Shift Focus on Revenue to Finance 2024 Budget

By
Ojukwu Emmanuel
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2

The Federal government of Nigeria has announced a strategic shift in its approach, as it aims to diminish reliance on borrowing and prioritize revenue generation to fund the 2024 budget.

This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who stated this after the signing of the 2024 budget by President Bola Tinubu at the state house, in Abuja.

Mr. Edun explained that the Tinubu-led administration is optimistic about the revenue generation forecast for the year 2024, adding that the government will leverage technology and digitization to ensure that revenues from diverse sources are polled to the consolidated revenue fund. 

In his words,

“As a percentage of GDP, the Nigerian 2024 budget deficit is down from 6.1% to 3.8%. So we’re relying less on borrowing and more on revenue and I think you have to take the two together. I think we’re very optimistic about the improvements in revenue that will take place.

“We bringing order to government borrowing, so Ways and Means are being eliminated by taking the funding that is required from the market, as opposed to from printing of money by Central Bank.”

He further noted that the budget is focused on growing the economy while adding that the increase in capital expenditure to around N10 trillion, signifies what the administration hopes to focus on to spur growth in the economy.

“But overall, the change in this budget is that it is focused on growing the economy. The capital expenditure is larger than the recurrent expenditure; over N10 trillion is going to be the capital expenditure, while recurrent is just about N8.8 trillion. I think that shows the direction of travel, it shows that we can expect an economy rejuvenated, re-galvanized, and set for growth”, he added.

The recent plan to rely less on borrowing and prioritize revenue generation to fund the 2024 budget, is a significant step, which is coming after President Bola Tinubu on January 1, 2024, signed the N28.7 trillion 2024 Budget into law.

The signed 2024 budget is N1.2 trillion higher than the budget the President proposed to a joint session of the National Assembly on November 29, 2023. Notably, on December 29, 2023, the Senate increased the 2024 budget by N1.2 trillion, from the initial sum of N27.5 trillion to N28.7 trillion.

According to the report submitted by the Appropriation Committee led by Senator Solomon Adeola, aggregate expenditure was pegged at N28,777,404.073.861; statutory transfers at N1,742,786,788,150; recurrent expenditure at N8,768.5330,852; capital expenditure at N9,995,143,298,028 and GDP at 3.88 percent.

It is understood that the Nigerian government has in recent years relied on loans from the CBN to shore up the budget deficit amid dwindling revenue.

Recall that in October 2023, the International Monetary Fund (IMF) cautioned about the CBN’s use of Ways and Means to finance the deficit, complicating inflation containment efforts.

The IMF warned against funding the nation’s budget with funds from the Central Bank of Nigeria (CBN), with the apex bank having funded the government with more than N22 trillion in Ways and Means.

According to the IMF, countries like Nigeria have a large untapped tax potential, hence the need to expand the tax base by reducing exemptions in value-added tax, rationalizing other types of taxes, and strengthening the quality of tax institutions.

All these steps according to the IMF can be taken to effectively mobilize revenues in a progressive manner, which can then be channelled for priority spending.

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