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Home Blog Page 4319

Schedule Your Team, Group or Company for Tekedia Growth Hour

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Group Registrants/Corporate members: a new scheduling batch has been released for Tekedia Growth Hour this morning. Team moved my calendar around to make more space. I hope to welcome everyone in your team, including those not currently attending Tekedia Mini-MBA at the moment.

During Tekedia Mini-MBA, we schedule Tekedia Growth Hour with groups and corporate participants attending our program. We use the opportunity to discuss, at more specific levels, how some of the frameworks and business models we have studied could be applied in the companies. We do batch this throughout the program. I personally lead the Zoom session.

We’re co-learning with all. We also make special time for groups, companies, and all entities coming as a group, focusing on how we can deepen competitive market positions and advance your missions.

We invite you to register for the next edition of Tekedia Mini-MBA as a company or a group (of builders/makers/innovators) or as an individual here.

The Nigerian constitution has again been amended

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On Friday, the 17th of March, 2023, the president assented to some constitutional amendments passed and transmitted by the National Assembly to the president for his signature in January this year.

Under this amendment, the coverage of the concurrent legislative list was further widened thereby tightening up the exclusive legislative list with the aim of further promoting true federalism in Nigeria.

Exclusive legislative list are those lists/items that only the federal government have the power to legislate on; ie those ambits that are reserved exclusively for the federal government; for example, currency printing, minting and redesign, military mobilization etc while the concurrent list are those lists/items  that both the federal government and the state governments have the power to legislate on for instance; Education etc 

These are five major highlights of the amendments so you can arm yourself with the right and current provisions of the constitution.

  1. States governments can now Generate and Distribute Electricity. Previously, the issue of electricity generation and distribution was in the exclusive legislative list thereby reserving anything to have to do with it strictly for the federal government but now states of the federation that are interested in generating and distributing electricity can explore that line now. 
  2. Own Railway; before this constitutional amendment, it was only the federal government that had the power and legal rights to build railways and operate the rail transport system, but now states who deem so fit and are capable can build railway networks and operate it within the state. It should be noted that if the railway operates interstate it then falls under the jurisdiction of the federal government but inasmuch as the railway network operates intra-state or within the state, it is still within the jurisdiction of the state government. 
  3. The President-elect and Governors-elect henceforth as a matter of constitutional requirement is to appoint its cabinet members not later than 60 days after they are sworn into office. This requirement has placed a clog on the wheel of a president or a governor waiting several months before appointing his or her cabinet members as we experienced with president Buhari’s first tenure. 
  4. State assemblies and state judiciaries now have financial autonomy/independence. This implies that they will henceforth receive revenue allocation directly from the federal government allocation account and they are at the liberty to expend their resources on what and however they deem fit; the state judiciaries and the state house of assemblies will no longer be financially dependent on the state governments to function as it has always been the case.
  5. Renaming of the Nigeria Prison Service to the Nigeria Correctional Service and Devolution of Powers for Correctional Services. State governments can now establish and operate their own correctional services (formerly known as the Nigerian Prison service) alongside the federal government. This is to say we can now have Lagos state correctional service or Ebonyi state correctional service. 

INEC Suspends Further Collation of 2023 Governorship Election Results In Abia and Enugu

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The Independent National Electoral Commission, INEC, has suspended further collation of 2023 governorship election results in some parts of Enugu and Abia states due to security concern.

This was made known in a press release signed by the commission’s national commissioner and chairman, information and voter education committee, Barr. Festus Okoye, on Monday. The press release reads as follows:

“The Commission met today, Monday 20th March 2023 and reviewed the conduct of the Governorship and State Assembly elections held nationwide on Saturday 18th March 2023. Arising from the meeting, the Commission took the decision to suspend forthwith further collation of the Governorship election results in some parts of Abia and Enugu States.

“It will be recalled that our office in Obingwa Local Government Area was invaded by thugs yesterday Sunday 19th March 2023 and our officials held hostage in relation to the collation of results from the Local Government Area. Similarly, reports from Enugu State call for a review of the results for the Governorship election from the two outstanding Local Government Areas of Nsukka and Nkanu East.

“Consequently, the Commission hereby suspends the collation of results in Obingwa Local Government Area of Abia State and the two outstanding Local Government Areas of Enugu State which are yet to be collated. A review will be undertaken immediately before the process is concluded.

“We appeal for the understanding and patience of voters, parties and candidates in the affected States.”

Fintech Startup VPD Money Records $200 Million Transaction in Two Years

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Financial services and lifestyle app that offer users money management tools, instant access to a digital wallet, and bank account, VPD Money, has disclosed that its transaction volume rose to over $200m, which showed a 2,548 percent increase since it commenced operations in 2021.

The startup stated that it had been able to onboard over 50,000 customers to date, having created a soothing platform for the unbanked and underserved.

The company’s Co-Founder and Senior Product and Project Manager, Mohammed Liadi said, “We have created a soothing platform for the unbanked and underserved. The unbanked people don’t necessarily mean they don’t have a job but the cost of entry to financial services is just too high for them. They have uncertainty about the benefits of being in the financial realm and of course, a rational decision, hence, they stay unbanked.

With VPD Money, you can access your funds anytime, anywhere, and make transactions with ease. With VPD Money, individuals and businesses can carry out their financial transactions without the need for physical cash. Our platform offers instant notification of payments, reduced costs, and a better user experience; thus, making VPD Money a reliable option for cashless transactions during this cash crunch.”

As a fintech platform, he disclosed that VPD Money would provide a reliable, fast, and convenient way for individuals and businesses to manage their finances, regardless of the recent physical cash shortage in Nigeria. He further added that VPD Money is the only fintech at the moment offering free transfers for transactions.

Launched in 2020, VPD money formerly known as VoguePayDigital is the first African digital banking app that enables its users to have a multi-currency wallet linked to their card experience. The platform seeks not only to improve user’s experience but also reduce the cost of transactions for individuals and businesses.

The platform aims to combine the benefit and strength of a virtual wallet, a bank account, and a card experience in order to create a true borderless account, leveraging modern solutions such as digital onboarding experience (KYC), AI, and machine learning. The startup seeks to eliminate the problem and costs associated with having multiple currency cards through a single combined solution.

VPD money was developed to enable African small and medium enterprises (SMEs) and individuals to transact easily within Africa and globally. Users receive cash back on most of the embedded services within the app, to help them save on a ‘save as you spend’ basis.

How Potato Farming Aided Socioeconomic Exchange in Europe and the Americas

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How much did you know about Potato? Did you know that potato was the first food crop to be grown in space?

Potato is from the perennial Solanum tuberosum. It is the fourth largest food crop, after rice, wheat and maize. Over 4000 varieties of the potato are grown across the world, the commonest in America is the russet whereas in Africa, the sweet potato is highly traded.

History has it that the Inca Indians in Peru were the first to cultivate potatoes around 8000 BC to 5000 BC. But in 1536 after the Spanish Conquistadors conquered Peru, they discovered the flavours of the potato and carried them to Europe.

In 1589 potatoes was introduced to Cork, Ireland by Sir Walter Raleigh, an English voyager and writer. About fourty years later, potato spread to the rest of Europe.

Eventually, agriculturists in Europe found potatoes easier to grow and cultivate than other staple crops such as wheat and oats. Most importantly, it became known that potatoes contained most of the vitamins needed for sustenance, and they could be provided to nearly 10 people for each acre of land cultivated.

The Boom’s Period

Idaho, the present day largest producer of potatoes, did not actually begin growing potatoes until 1836, when the missionaries moved west in an effort to teach the native tribes to grow crops instead of relying upon hunting and gathering methods. In 1872 when the Russet Burbank variety was developed, Idaho potato industry began to flourish.

In October 1995, the potato became the first vegetable to be grown in space. US scientists from NASA and the University of Wisconsin developed the technology with the aim of feeding astronauts on long space voyages and eventually feeding future space colonies.

According to the US Department of Agriculture, “a diet of whole milk and potatoes would supply almost all of the food elements necessary for the maintenance of the human body.”

Discovery of the French Fries

The French King, Louis Philippe who reigned between 1830 and 1848 had a Chef named Collinet. One night, Collinet had the  intention of serving his master a hot delicious meal when he accidentally created soufflés or puffed potatoes. He came about this by plunging already fried potatoes into extremely hot oil to reheat them. To the chef’s surprise and the king’s delight the potatoes puffed up like balloons.

In 1853, US railroad magnet, Connilele Vanderbilt visited a resort in Saratoga Springs, New York. He was served hot salty crispy by Chef, George Crum who got embittered by Vanderbilt’s initial impression. To everyone’s surprise Vanderbilt loved his Saragoata Crunch chips. Since then potato chips have been popular.

Thomas Jefferson gets the credit for introducing “french fries” to America when he served them at a White House dinner.