The Federal Government of Nigeria has partnered with Nigerian commercial bank, Wema Bank, to establish innovation hubs across States in the country, aimed at empowering one million youths with relevant digital skills.

The initiative known as FGN/ALAT Digital and SkillNovatiob Hub, was agreed upon during a meeting between representatives of the bank and the Vice President of Nigeria, Kashim Shettima in Abuja.

Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said the initiative is designed to revolutionize the way young entrepreneurs and employees interact with technology, entrepreneurship, and skill development.

In his words,

“The Digital & SkillNovation Hub reflects our dedication to fostering a thriving ecosystem that empowers Tech-Savvy Youth Entrepreneurs, Youth Entrepreneurs by Nature, and Young Employees, driving economic growth and sustainable progress across the nation. This centralized platform will integrate cutting-edge digital tools, technologies, and resources to streamline digital activities, collaboration, and information sharing.”

The Digital and SkillNovation Hub will first open in Lagos and Borno states, with Kastina, Cross River, Anambra, Oyo, and Kano states following suit.

The initiative is aimed at providing financial solutions, training, and access to strategic partnerships, empowering young employees to become an integral part of Nigeria’s workforce, especially those deployed through the National Youth Service Corps (NYSC).

Under the scheme, grants will be provided through a collaborative arrangement between the Federal Government and WEMA Bank, allocating N500 million to be given to SMEs and Techpreneurs.

The FGN/ALAT Digital SkillNovation hubs will focus on training one million young adults in software engineering, product management, business analysis, cloud computing, and product design, using specialized resources.

Wema Bank is one notable Nigerian bank that has continued to be at the forefront of equipping Nigerian youths with relevant digital skills. The bank is known for its commitment to innovation and empowerment, with proactive approaches to equipping youths.

Notably, Wema Bank has always come up with initiatives aimed at providing youths with essential skills for the future, empowering them to embrace the digital age and thrive in an increasingly technology-driven world.

The Bank has implemented several initiatives and programs to promote digital skills among its customers and the wider community. These initiatives include;

Digital Literacy Programs: The bank has organized workshops, webinars, and training sessions aimed at improving the digital literacy of its customers. These programs help customers become more comfortable with using digital platforms and services for their banking needs.

Financial Inclusion Initiatives: To promote digital skills and financial literacy, Wema Bank initiatives are aimed to provide financial education to underserved communities, encouraging them to adopt digital banking services.

SME’s Support: The bank is committed to empowering and educating Small and Medium Enterprises (SMEs) with skills and knowledge of current business trends.

The SME-centric Wema Bank has a rich history of supporting SMEs and has, over the years, introduced several initiatives in the SMEs segment Like ALT for Business platform, funding unique start-ups and creatives through its Hackaholics program, SME Business School, SME loan offerings, and many more.

In the Igbo Nation, the wise ones will say “Mberede ka eji ama dike’ [great people are known when they’re confronted with unforeseen challenges]. In ECOWAS history, what the  Niger military junta has done is common if you recall how Yahya of Gambia  packed out when they dropped a minor threat. During Abacha time,  he was the ECOWAS, as he locked up military khaki boys in cells when they rejected his instructions. After he dealt with them, they saluted and delivered as expected.

But time has changed. Yes, Niger can go against Nigeria and ECOWAS because you know what: that is the spirit of democracy which Nigeria is “practicing”. With the Nigerian Senate voting down any military participating from Nigeria, the options are largely limited to carrots and dialogues with some sticks. We do not expect any military mobilization – and that is a good outcome. ECOWAS will meet on Thursday: “The notice of the meeting, which is to be held in Abuja, Nigeria’s capital, on August 10, was sent on Monday by Tinubu, who doubles as the chairman of ECOWAS.”

I call on Nigeria and the broad ECOWAS to swallow any pride. We will all forget in days. But what we will not forget is turning the Niger Republic into another Syria with some parts for Russia, and some for the West.  I have already shared my plan on how we can go about this here. 

Call a meeting of the African Development Bank, African Export-Import Bank, economic ministers of ECOWAS countries and partners of ECOWAS, and work out a regional sovereign guarantee (RSG) package of $5 billion for Niger Republic. That is about the national budget of the country.

Then open an Africa-wide investment opportunity window for Niger, guaranteeing 50% of every investment into Niger Republic in the next three years. Areas to be covered include education, agriculture, healthcare, and related areas. At least 25% of the RSG should go to Niger-native companies.

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Comment 1: Niger is bigger than Nigeria, so what is exactly this misguided notion that ECOWAS military is capable of dislodging a junta that captured power, largely supported by the local population? How many military personnel can you muster exactly and what would be the instruction? Let this whole embarrassment stop now, because they will be defeated, if they ever enter Niger, the politicians asking for military intervention obviously don’t know what taking war to another’s soil entails.

Gambia was a different case, it was a civilian regime that went rogue, in a very tiny country. If you superimpose the whole of Nigeria into Niger, it will swallow it and still have spaces, yet we are dreaming of invasion and dislodging, this is not a movie scene.

In another one week, we will be done with this Niger thing, nobody will attack or remove anyone, because the odds are heavily against the proponents, they do not stand a chance.

There’s no democracy in West Africa, so let this noise about restoring democracy cease, we never had one.

It is an aberration for fraudulent people to give sermons on rule of law, the very thing they never respected in their home domains. Funny creatures everywhere.

Comment 2: Ndubuisi Ekekwe I enjoyed this piece but down to the last part, I have a reserve. Niger won’t just be turned to Syria, and parts of it for Russia and the West, but the whole west African states will be in a turmoil like never seen before, worse than Africa ever experienced in the previous world wars.

Because it will be a war amongst nations. Like I said earlier, it will gradually spill over, it definitely cannot be contained in Niger alone. They will have no restrictions to attack opposition nations in a bid to weaken their morale. I maintain my stance, that Africa should always rather seek the path of pure brotherhood and friendship because if they create enmities for themselves, there will be no victor.

Comment 3: Any discerning mind can see through Tinubu’s smoke screen. Tinubu, having failed miserably on the home front in just three months of taking office, with his economy in complete mess – Petrol up 300%, inflation out of the charts, USD/NGN shooting for the skies, productive businesses packing up, is desperate for any distraction whatsoever from his economic woes and what a timely gift this Niger drama offers. How ironic that a complete outsider, who would not cry for his own people, is crying more than the bereaved!

Now, Niger has assembled a solid military coalition with Burkina Faso, Guinea, and Mali. In addition, Niger’s military rulers have enlisted support from Russian Wagner mercenary group. Let’s face it, everyone knows that Nigeria’s corrupt military – the same military that could not contain Boko haram – instead resorting to settling with cash, nor bring back the kidnapped girls, nor even feed or provide necessary gear and logistical support for its military, is not in any position to face the Niger Military alliance and Russia’s Wagner. Look very well, the only ones beating war drums are the greedy vultures who are already salivating at the money to be made. That’s just the way it is.

Nigerian President Bola Tinubu has summoned the Economic Community of West Africa States (ECOWAS) for a fresh meeting, following the expiration of the 7-day deadline given to the Niger Republic’s military junta to restore Mohamed Bazoum as president or face military intervention.

The notice of the meeting, which is to be held in Abuja, Nigeria’s capital, on August 10, was sent on Monday by Tinubu, who doubles as the chairman of ECOWAS.

“President Bola Ahmed Tinubu, President of the Federal Republic of Nigeria and Chairman of the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS) has convened another Extraordinary Summit of the Authority on the political situation in the Republic of Niger.

The Summit will be held in Abuja, on Thursday, August 10, 2023.”

“The ECOWAS Leaders will be considering and discussing the political situation and recent developments in Niger during the Summit,” a statement issued by the regional body reads.

The fresh meeting is prompted by the growing calls for ECOWAS to jettison its plan for military action in Niger. The regional bloc had last week, announced it’s prioritizing diplomacy over military action in its attempt to resolve the crisis.

Also, the Nigerian Senate on Saturday rejected Tinubu’s request for the redeployment of troops to Niger, asking the president to explore other dialogue-based options in the quest to restore democracy in the West African country.

Since the coup led by the presidential guards on July 26, the West, led by France, has been mounting pressure on Nigeria to intervene militarily to restore Bazoum.
However, following the expiration of the ECOWAS deadline on Sunday, the Niger military junta has reportedly brought in reinforcements to Niamey, the country’s capital in preparation for a possible military invasion in the country by the ECOWAS.

According to information from a military insider shared with CNN, a convoy comprising approximately 40 pickup trucks arrived after sunset on Sunday. These vehicles transported troops from various regions of the country, serving the dual purpose of instilling confidence among the apprehensive civilian population and making necessary arrangements for any potential confrontations.

It was also reported that mercenaries from the Russian Wagner group, a military contractor group, have arrived in Niger to support its military.

Amid the looming specter of military intervention, the nation’s airspace has been closed by the military authorities. Heightened unease and bewilderment have taken hold in the northern expanse of Nigeria, particularly within the seven states sharing borders with Niger.

President Bazoum remains in captivity, as the reins of power in Niger are still firmly grasped by the National Council for the Safeguard of the Homeland, the junta’s official designation.

The junta has rallied thousands of Nigeriens to Niamey, the country’s capital, in support of the military. The military takeover is widely seen by the citizens as a way of relieving the country from France’s grip. The military leaders have cut off the supply of uranium to France.

The contemporary conversation on technology makes it look like the world of atoms and the old-age industrial economy have all gone. Yes, digital and specifically online will rule the future, and software will eat and save the world. But if you look deeper, you will notice one thing: the bulk of wealth in places like Nigeria and Africa in general remains offline. And the richest in these areas are old-school businessmen who continue to pursue the boring entrepreneurial pursuits of the industrial economy. Sure, online will come, but it will not happen tomorrow! You must work to capture value today even  as you prepare for tomorrow’s redesign! 

Statistically, you are more likely to be richer on CASH in Nigeria if your business involves the boring domains of the industrial economy (shipping, logistics, farming, manufacturing, real estate, food production, cement production, etc) than running all-online business. So, while the digital’s online promises the future, today, the opportunities remain on those physical platforms which power economies. People pay premiums for those offline engines of economies.

For all the excitements about Meta (Facebook), Apple, Google, etc, remember the boring builders like Warren Buffett: “Warren Buffett-led conglomerate saw net income of nearly $36 billion in the second quarter, and an overall profit of the same amount….Berkshire Hathaway finished the second quarter with $147.4 billion in cash and cash equivalents, which is a near-record.” Yes, in 3 months, one company’s profit was Nigeria’s annual budget – and he does not have an app!

No matter what you do in Nigeria, if you do not have a PHYSICAL (offline) playbook, you will likely not do very well.  The best fintech companies in Nigeria are those with strong physical-space strategy despite the apps store and websites. The best logistics companies have human elements at strategic hubs despite their apps.

Simply, if you think you can win by just launching an app or having a website, you are dreaming, because every business is local, and today, the physical space remains the pulse in Nigeria, as the best customers are not yet online at scale. Sure, the students will give you downloads, but to have alerts in the bank, you need to go offline.

Berkshire Hathaway on Saturday posted its highest-ever quarterly operating profit of $10.04 billion, a 7% increase from a year earlier. The Warren Buffett-led conglomerate saw net income of nearly $36 billion in the second quarter, and an overall profit of the same amount. Its insurance businesses, including car insurer Geico, were a big driver of the quarter’s successes, and helped offset losses in some of the company’s other divisions — such as the BNSF railroad, which saw a 24% overall profit drop thanks to lower consumer-goods shipments and price competition from the trucking industry. Berkshire Hathaway finished the second quarter with $147.4 billion in cash and cash equivalents, which is a near-record. The conglomerate repurchased $1.4 billion in stock in the second quarter, which is a significant drop from $4.4 billion in the first quarter.

Go Offline and find those customers! At the meatspace (physical space), you will find the entities required to expand your user base. At Offline, you will discover clusters to onboard thousands of users, instead of just one client at a time. Offline is the real world; the online is simply an extension when it comes to Africa. Have an offline strategy.