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Peter Obi Decries Exit of GlaxoSmithKline (GSK) from Nigeria

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Peter Obi, the Labour Party’s candidate in the 2023 presidential election, has expressed his disappointment over the upcoming departure of British pharmaceutical giant GlaxoSmithKline (GSK) from Nigeria after five decades of operation.

He expressed the feeling in the wake of GSK’s declaration to cease its manufacturing of prescription medicines and vaccines within the country.

In a communication submitted to the Nigerian Exchange Limited, the multinational pharmaceutical corporation disclosed its intention to shift to a third-party direct distribution approach for its pharmaceutical offerings.

In response to this development, Peter Obi expressed his sentiments through a tweet on Friday evening. He lamented that the company’s decision to depart from Nigeria is particularly disheartening, indicating a lack of optimism in the country’s potential as a productive business environment.

He attributed these outcomes to the collective mismanagement of our economy over time.
“As a result, millions are losing their jobs and our poverty index is worsening, even though we’re already being perceived as the world’s poverty capital,” he said in the post.

He further noted that “The multinationals that are leaving our country have not only created jobs but have created immeasurable training that contributed immensely to our human capital development over the years.

“Now they are leaving our shores one after the other. GSK which has a manufacturing facility in Agbara, Ogun State on over 25 hectares of land had directly employed over 400 highly technical workers like pharmacists, microbiologists, biochemists, chemists, dentists, doctors etc, and also employed over 1000 other staff.

“It indirectly provided jobs and business opportunities for thousands of Nigerians across the nation. They are now leaving all these behind, and pushing more people back into unemployment.

“I have consistently maintained that in turning our nation around, we must move the economy from consumption to production, part of which included encouraging and supporting local and foreign investments, like GSK, in the country.

“The creation of an environment that creates and sustains multinationals to invest in our country is key to our dream of greatness. In the new Nigeria that we seek to create, the emphasis on production will encourage investors to stay and expand on our shores.”

The decision of GlaxoSmithKline, which was incorporated in Nigeria in June 1971, added to the growing number of multinational companies leaving Nigeria due to an unfriendly business environment.

The pharmaceutical multinational company is the producer of popular products like Panadol, Ribena, Lucozade, Macleans, augmentin, and Andrews Liver Salt, among others. Nigerians are concerned that its exit will result in a further hike of its pharmaceutical products.

Redbrick Secures Korean Patent for Open Metaverse Creation System

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Redbrick, a leading company in the field of virtual reality and metaverse, has announced that it has obtained a patent for its innovative open metaverse creation system in South Korea. The patent, which was granted by the Korean Intellectual Property Office on July 31, 2023, covers the core technology of Redbrick’s platform that allows users to create, share, and monetize their own metaverse experiences.

The open metaverse creation system is a software framework that enables users to design and build immersive virtual worlds using various tools and assets provided by Redbrick. Users can also import and export their own content from other platforms, such as Unity, Unreal Engine, Blender, and Sketchfab.

The system supports cross-platform compatibility, meaning that users can access and enjoy the metaverse experiences on different devices, such as VR headsets, smartphones, tablets, PCs, and consoles. Redbrick’s CEO, Kim Min-jae, said that the patent is a significant milestone for the company and the metaverse industry.

“We are very proud to have secured this patent, which demonstrates our technological leadership and innovation in the field of metaverse. Our open metaverse creation system is a game-changer that will empower users to unleash their creativity and imagination in the virtual world. We believe that this will lead to the emergence of a new paradigm of entertainment, education, socialization, and commerce in the metaverse,” he said.

The open metaverse is a term that refers to a network of interconnected virtual spaces that are accessible to anyone, regardless of the device or platform they use. Unlike closed metaverses, which are controlled by a single entity or company, open metaverses are decentralized and open to innovation and collaboration from various stakeholders.

Redbrick’s system enables users to create their own open metaverse content using a simple drag-and-drop interface, and to publish it on the Redbrick network, where it can be accessed by other users across different devices and platforms. Users can also monetize their content by selling or renting it to other users, or by creating in-game economies and transactions.

To understand what the open metaverse is, we can think of it as an extension of the internet, where instead of browsing web pages, we can explore immersive 3D environments. The open metaverse is not limited by physical boundaries or geographical locations, and it can host various types of content, such as games, social media, education, entertainment, art, and more. The open metaverse also offers new possibilities for communication and interaction, as users can create and customize their own avatars, and interact with other users through voice, text, gestures, and emotions.

Redbrick’s CEO, Kim Min-jae, said that the patent is a significant milestone for the company and the open metaverse industry. “We are very proud to have obtained this patent, which validates our vision and technology for the open metaverse. We believe that the open metaverse is the future of the internet, where everyone can create and enjoy their own virtual worlds and experiences. Our system empowers users to unleash their creativity and imagination, and to benefit from their own creations. We hope that our system will contribute to the development and growth of the open metaverse ecosystem in Korea and beyond.”

Redbrick plans to launch its open metaverse creation system to the public later this year. The company has already partnered with several global brands and organizations, such as Samsung, LG, Hyundai, K-pop stars BTS and Blackpink, and the United Nations, to create various metaverse projects and events. Redbrick also aims to expand its presence in the global market by applying for patents in other countries, such as the United States, China, Japan, and Europe.

You must build your professional webinality, Join Tekedia Mini-MBA

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Join us today at Tekedia Mini-MBA as we examine how to build webinality (web+personality). Yes, in this age, to ascend professionally, you need to find a creative way for people to know what you think you know. If you know it and keep it to yourself, you grow alone. But if you make it possible for others to know, wings emerge to carry you up. You must build your professional webinality

Tekedia Mini-MBA is an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents. Besides, programs are designed for ALL sectors, from fintech to construction, healthcare to manufacturing, agriculture to real estate, etc.

Join us in Tekedia Mini-MBA 

Bitcoin Trading Manifestoes in Malaysia

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Bitcoin trading in Malaysia has been rising in popularity as its price continues to rise. Despite the cryptocurrency being illegal in the country, there is still a vibrant market for trading it due to its strong potential for growth. In recent years, Malaysians have explored various Bitcoin investment strategies such as buying and holding, trading on exchanges, and mining. Visit qumas ai platform for further information.

The Malaysian government has taken steps to regulate Bitcoin trading by issuing guidance on taxation and anti-money laundering (AML) obligations. However, this does not stop people from investing in Bitcoin through peer-to-peer (P2P) platforms or foreign exchanges that are not subject to local regulations. The increasing demand for cryptocurrency has led to an emergence of several local businesses providing digital asset services such as wallet hosting, exchange services and Initial Coin Offerings (ICOs).

Malaysians have access to some of the most popular global Bitcoin exchanges including Binance, Coinbase and Huobi Global. Local exchanges such as SINEGY are increasingly being used by traders who prefer a more cost-effective approach for their transactions. For investors looking for more passive earnings, many have adopted a buy-and-hold strategy where they buy BTC at low prices and wait until their values increase before selling them off.

Mining is another avenue of earning money through Bitcoin in Malaysia. Mining is done with specialized hardware such as ASIC miners that solve complex mathematical equations in order to generate new blocks of transactions on the blockchain network. This process requires significant computing power which is why it is best left to professionals with experience in this area.

Investing in cryptocurrencies can be risky but it also comes with great potential rewards if done properly. As with any investment decision, investors must always do their research before investing into any digital asset or currency projects. It’s advisable to diversify your portfolio so that you spread out your risk across different cryptocurrencies instead of investing solely into one coin or token..

Is Bitcoin worth investing?

The short answer to the question of whether Bitcoin is worth investing in is yes. It has been a volatile asset since its inception, but there have been several compelling reasons for people to make Bitcoin an investment choice.

For starters, Bitcoin is decentralized, meaning that no single entity owns or controls it. This makes it more resilient and secure than other forms of currency because it cannot be manipulated or devalued by government policy. Additionally, Bitcoin transactions are anonymous and fast, allowing users to send and receive payments with minimal fees and without the need for intermediaries like banks or credit card companies. This also allows users to bypass regulations that would otherwise limit their ability to conduct certain financial activities.

Moreover, the blockchain technology behind Bitcoin provides a transparent ledger system that enables users to track their transactions easily and securely. This adds a layer of trustworthiness to the system, which gives investors the assurance that their funds are safe and secure when using Bitcoin as a medium of exchange.

Finally, due to its limited supply, Bitcoin has consistently increased in value over time, making it an attractive asset for long-term investments. Because of this scarcity factor, many investors believe that with time, the value of Bitcoin will only continue to rise in comparison with other currencies and assets.

In conclusion, although there are risks associated with investing in any type of asset (especially one as volatile as Bitcoin), its decentralized nature and potential for appreciation make it an attractive long-term investment option for many people..

What is the future of Bitcoin?

The future of Bitcoin is highly uncertain, but some experts predict that it could become a widely accepted form of currency in the near future as more and more people seek out digital payment solutions. Additionally, with the increasing popularity of blockchain technology, decentralized cryptocurrencies such as Bitcoin may become more useful and valuable. Many people believe that the blockchain will revolutionize how financial institutions operate and people purchase goods and services online. Finally, with the addition of multiple new regulations across different countries, Bitcoin could be an attractive asset class for investors looking to diversify their portfolio.  Ultimately, only time will tell what lies ahead for Bitcoin’s future..

Final Word

trading manifestoes are documents that outline the guiding principles and objectives of traders who use Bitcoin a form of cryptocurrency. These manifestoes provide clarity why individuals choose to trade with Bitcoin, as well as they plan to achieve their goals. They represent an important statement of individual values and approach to investing.

Very Commendable – ECOWAS Chooses Diplomacy Over Military Action, On Niger Republic Crisis

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Good People, we the people won: “The security committee of the Economic Community of West African States (ECOWAS), which includes Military Chiefs from several West African nations, announced on Friday their intention to prioritize diplomacy in addressing the situation in the Republic of Niger concerning the actions of the junta.”

Yes, ECOWAS military chiefs are not going to mobilize to wage war against their brothers and sisters in Niger Republic. Rather, they will return to the barracks while politicians explore dialogues. And I ask them to be ferocious on those dialogues; we do not want military rule even as we do not want military confrontations in Africa.

More so, as Nigeria cuts off power to Niger, let me remind our leaders in Abuja that according to my Geography class in secondary school, River Niger gets a lot of its inflows from Niger. We have to be super-careful that they will not sabotage the water level, since if they do, our hydroelectric dams in Niger State will see diminished capacity. Niger Republic cannot build a dam upstream so that our dams can function, and we’re obligated to supply them electricity, under the agreement. So, we must check if we’re violating that agreement. If they retaliate, Nigeria could be in trouble.

That said, I thank all the ECOWAS leaders for freezing any kinetic action. You see, I am against wars because Nigeria’s genocide in Southeast Nigeria was real. Nigeria unleashed uncommon wickedness against fellow Africans, at home and abroad. My mother’s only surviving brother (Engr Augustine) perished in London along with many young Igbo men in a war fought in Southeast Nigeria. No one has explained what happened to them!

So, if they start wars in Niger and foreign powers make alliances, everyone, irrespective of where you are, is at war. Ask Russians living outside Russia today. So, to live in peace anywhere, NO Wars in Africa. The past is past; I just want Africa not to make that mistake again, as many here have no scars of wars, to understand that once started, the paths are unknown!

Update: the Nigerian Senate has made it official – no military option in Niger Republic.

Senators have rejected the request by President Bola Tinubu for permission to deploy Nigerian troops to Niger Republic as part of an ECOWAS force to reinstate the democratically elected president of the country,

President Mohamed Bazoum was deposed on 26 July in a coup led by his presidential guards.
ECOWAS leaders at a meeting in Abuja four days later gave the coup leaders a seven-day ultimatum to restore constitutional order or face the possible use of force. The regional body imposed sanctions on the coup leaders with Nigeria also cutting electricity supplies and closing its borders with the poor West African nation.

Following the refusal of the coup leaders to backtrack, West African defence chiefs said they had drawn a plan for military action as part of which President Tinubu wrote the Senate for permission to involve Nigerian troops in the action.

However, at an executive session on Saturday, the senators rejected the request by the president.

According to a senator who attended the meeting, senators agreed to pass a resolution condemning the coup and to commend ECOWAS leaders on their efforts to restore constitutional order in Niger, but they ruled out military options.

“Almost all the senators spoke and totally ruled out the military options because of many factors and also because of the harmonious relationship that Nigeria and Niger has always enjoyed.

“Senators instead urged President Tinubu to intensify negotiation with the coup leaders by again sending a high-powered delegation to Niamey. Someone suggested that elderstatemen like Obasanjo, Gen Ali Gusau and Abdulsalam Abubakar should be sent as special envoys to dialogue and seek a diplomatic solution.

“Senators opposed to military action pointed out that our military is highly ill-equipped and not prepared to fight any war.They said that we have fragile peace in Nigeria and that Niger is the highest arms market in Africa.

My Response: It is called a free society. Telling a country not to wage wars because those wars will affect you is not talking down on your country. I understand that everything is seen from the tribal angle (If Musa or Kemi had written this, you would not comment as done). If Nigeria and ECOWAS are using the pretense of democracy to wage war in Niger, and you are here chastising people for expressing free speech rights, ask yourself what drives you. You cannot have it both ways. That said, I do not care how you feel; my happiness is that ECOWAS will explore dialogues.

Comment on Feed

Comment 1: We have emerged victorious! As the united and compassionate citizens of Africa, we extend our heartfelt gratitude to ECOWAS for making a profound decision in favour of peace over chaos. Our voices have been heard, and we commend ECOWAS for diligently listening to our repeated calls for an intellectual dialogue to resolve the crisis in Niger.

This momentous achievement is a testament to the power of collaboration and diplomacy. By choosing a path of dialogue and understanding, ECOWAS has demonstrated its commitment to promoting stability and harmony in the region.

As we celebrate this triumph, let us continue to stand together as one, supporting peaceful resolutions and advocating for the well-being of all nations within Africa. With ECOWAS leading the way, we can work hand in hand to address challenges and create a brighter future for our beloved continent.

Once again, we express our sincere appreciation to ECOWAS and all stakeholders involved in this significant decision. Together, we forge ahead towards a more peaceful and prosperous Africa.

With gratitude,
The Good People of Africa

Comment 2:  I keep racking my brains about how humans always preferred war to negotiating table. After that, they return to the negotiating table after lives and properties have been destroyed.

Though in conflict resolution and management, we were told that there are three basic ways to achieve peace, that’s, Dialogue, Ignore, and War. However, going to war should never be the first option, rather a last resort.

Comment 3: Folks often the point in this debacle.

The threat of ECOWAS military intervention and imposition of sanctions and blockades are part of the responses required to force the Nigerien coupists to the negotiations table and relinquish power.

Aside the effect it would have on the junta who hijacked power unconstitutionally, It is almost certain that other prospective coupists who may have been planning a similar takeover in their own country will be watching keenly as events unfold in Niger.

ECOWAS going to war was always going to be the last card and not the first line of action. I do not believe that in the spirit of African brotherhood, any African leader is genuinely keen on waging war against a fellow African nation.

My Response: “The threat of ECOWAS military intervention and imposition of sanctions and blockades are part of the responses required to force the Nigerien coupists to the negotiations table and relinquish power. ” – unfortunately, they did not get that memo. Period, they’ve mobilized waiting to engage. Threats do not work unless you’re a civilian regime.