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Buhari Launches First Oil Drilling Project in Northern Nigeria

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Three years after its oil exploration in northern Nigeria, President Muhammadu Buhari has flagged-off oil drilling projects in the region.

The project, dubbed Kolmani Integrated Development Project, heralds the first ever oil drilling Endeavour in the northern Kolmani River II Oil Field located at a border community between Bauchi and Gombe States.

NAN reports that Buhari will perform the official ground-breaking ceremony of the Oil Prospecting Lease (OPLs) 809 and 810 at the Kolmani River II Well on Tuesday.

The project partner, the New Nigeria Development Company, is owned by the 19 states of Northern Nigeria.

The Nigerian National Petroleum Company (NNPC) Limited, in October 2019, announced the discovery of crude oil, gas and condensate in the Kolmani River.

The commercial quantity discovery was the first in the region after several crude oil explorations on the Upper Benue Trough. The oilfield will be developed by Sterling Global Oil, New Nigeria Development Commission (NNDC) and NNPC Ltd.

The historical event would signal oil drilling and exploration in the oil field discovered in 2019 in the northern region. Many officials of Nigerian security agencies, including the State Security Service, the Nigerian Army, the Nigerian Air Force and Navy, and the Nigerian Police, are deployed at the site.

Some para-military agencies, including the Nigerian Security and Civil Defence Corps (NSCDC), the Federal Road Safety Corps and the Federal Fire Service, are also on ground. The officials of the NNPC Ltd, members of the cabinet and some medical teams with their equipment are also seen at the site.

The president is expected to be accompanied by the Minister of State, Petroleum Resources, Timipre Sylva, Bauchi and Gombe States governors, Bala Mohammed and Inuwa Yahaya, and other top government functionaries.

The onshore oil discovery marks a significant turn in Nigeria’s oil economy. The discovery of the 1 billion barrels of crude oil will be crucial to Nigeria’s economic survival as a nation, according to minister of state for petroleum, Timipre Sylva.

“This will boost infrastructure and industrial development in Nigeria; this is the motivation that has sustained the quest for the Petroleum Industry Act in 2021,” he said.

He disclosed that the ministry of petroleum is poised to employ frontier development funds to commence frontier basins and boost oil reserves from 37 billion to 40 billion.

“The key implication of these measures is that Nigeria needs to seek sustainability and expand capital for government spending. Drilling for hydrocarbons in the frontier development is crucial to Nigeria’s survival as a nation,” he said.

The Nigerian National Petroleum Limited (NNPCL) said the Kolmani oil site would also have a petrochemical refining site with an oil refinery of 120,000 bpd, a gas processing site of 500 million cubic feet per day, and also a 300 MW power plant.

With the 1 billion barrels of crude oil reserve from the new northern oil wells, Nigeria is expected to earn about N32.3 trillion over a period of 10 years.

Congratulations Boundlesspay For Raising Pre-seed Capital

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Let me congratulate hometown boy Franklin Peters (FIMS) Odoemenam for raising a pre-seed fund for Boundlesspay. I gave him a very tough assignment a few months ago: an European startup wanted to buy his company and acqui-hire him in the process (they buy and will require him to work therein).

When I heard it, I told him NOT to go ahead with that sale. It was a very tough time for him but in the midst of that confusion, I challenged him to live above the easy path.  I reminded him that he was just as best as any person and could build that future.

Today, he raised at multiples he could have sold and all smiles. I am very happy for a kid who was nicknamed “blockchain oracle” at UNN and today he will make blockchain better. I will continue to wish him good luck and more wins. Thank you Adaverse for believing in this Isuikwuato Abia State innovator; we salute and thank you for opening this big partnership with Franklin and BoundlessPay.

Please celebrate one of our young men in our village by checking his company. I have told him that any day his company is valued at $1 billion, the Isuikwuato people will invite him to the Ikoro.

Reaching New Heights: How Popular Companies Have Achieved Success?

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We see a lot of super successful companies on the internet these days. They have reached new heights of success with revenue in billions. Ever wondered how? What have they done to achieve these heights of success? How are they so successful? What is it that makes them different from all others?

Such questions continue making rounds in the minds of everyone who’s started a new business or those who are struggling with the current one. Of course, these top-tier companies have done something right or maybe they just work too hard. There are a lot of maybes and ifs involved in this debate.

Let’s start digging into the details and find out what makes them special and how they’re super successful. According to our research, the following are a few factors that determine their success:

They Pursue Goals

Having a dream is one thing but having goals is a whole other story. Many people start a business with the dream of increasing their income. Most of them take their business as a passive income source. Due to that, they make minimal effort to improve their business, which hinders their growth.

Top-tier companies work with a set of goals. They focus on nothing but their success. Not to mention, they plan everything ahead of time and their business is their top priority. When you solely focus on one thing and work hard for it, you eventually achieve your goal. Also, when you achieve your first goal, the route to the second one becomes easier and things start getting in motion.

They Have Efficient Management Teams

Successful companies; for example, multinational firms, have a large network of employees working at the backend. Needless to say, you cannot achieve that kind of success if you’re the only one that’s working. Of course, you need employees for that. In other words, you need a good management team.

If you haven’t hired a team for your business, you must do it right away. You don’t have to hire a dozen people in the beginning but as your business grows, you must hire new people for new job roles. Initially, it’s going to cost you some money but eventually, when your business’s profit increases, it won’t matter and you’ll be able to afford as many employees as needed.

They Retain Employees

Hiring employees isn’t enough if you wish to succeed. Retaining employee talent is the key to success. Successful companies recognize good talent and they make efforts to keep it. They provide employee benefits and more than competitive salaries. Besides that, they maintain a pleasant office culture.

As a matter of fact, nothing will matter if your work environment is toxic. It won’t matter how much they pay you or how great the employee benefits are. Having a positive work environment is crucial. Successful companies ensure that their office environment is pleasant and they keep a strict check on disciplinary issues.

They Care for their Customers

For a successful company, there’s nothing more important than its customers. Let’s take the example of Amazon. During the Covid-19 pandemic, many businesses took a massive hit. Some were permanently closed while others are still struggling. On the other hand, Amazon made billions with its online sales.

It is because Amazon cares for its customers more than anything else and they’re always working on making the customer experience better. They keep introducing new ways to receive online payments and continue improving their delivery system. It is exactly what you need to do if you wish to achieve a similar level of success.

They Continue to Innovate

Not introducing new technology in your business eventually breaks it down. People may like you at first but if you won’t give them anything new, they will eventually get bored and leave. For this reason, successful companies continue bringing new things. From building their websites to improving their current products and introducing new ones, they do it all.

Apple and Samsung are two great examples here. They launch new products pretty much every year. Besides that, they also work on improving the technology of their current products. They offer new software updates frequently to improve user experience and because of that, their products continue bringing them money.

The Takeaway

Starting a business isn’t difficult, running it successfully is. You can register a new company and market it all you want but if you won’t care for your customers, retain your employees, and innovate new things, you won’t be able to survive in this competitive business world, let alone succeed. Thus, you must consider the tips mentioned above, set your goals, and continue working hard to achieve them.

Court Orders Nigeria’s Election Umpire, INEC, to Extend Voters’ Registration Exercise

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The Abuja Division of the Federal High Court has ordered the Independent National Electoral Commission (INEC) to resume continuous voter registration (CVR) until 90 days before the 2023 general elections.

NAN reports that Justice Inyang Ekwo, in a judgment on Tuesday, also directed INEC to ensure that eligible Nigerians are not deprived of the opportunity to have the voter’s card for the forthcoming poll.

Justice Ekwo held that it was the constitutional responsibility of the electoral umpire to make adequate provisions for the exercise following the Nigerian laws.

“The case of the plaintiffs succeeds on merit,” the judge declared.

Anajat Salmat and three others had sued INEC as the sole defendant in a suit marked: FHC/ABJ/CS/1343/2022.

In the originating summons filed before the court, the plaintiffs argued that INEC could not stop the CVR contrary to the stipulated provisions of the constitution.

They urged the court to order the electoral umpire to resume the exercise in accordance with the law of the country.

INEC said in July that there would be no further extension so as to enable the Commission to carry out other functions ahead of the 2023 general elections.

The INEC National Commissioner in charge of publicity and voter education and the supervising National Commissioner for Anambra, Abia and Benue states, Chief Festus Okoye, said then at the Anambra State headquarters of INEC, that there was no way the exercise would not come to an end as the Commission is also involved in other activities ahead of the general elections.

“You are fully aware that 30th of June, 2022 was the terminal date for the CVR, but the commission extended the date to 31st July 2023, a period of one month.

“The CVR cannot go on ad infinitum. It has to be terminated at a certain point in time and so, the commission has decided to terminate it on the 31st of July.

“This is to enable us have the time to clean up the double and multiple registrations. We have to do this before the 2023 elections so as to have a clean voters register.

“The Electoral Act 2022 mandates INEC to display the voters register in the 744 local government areas of the country and in the 8809 registration areas for claims and objections. Thereafter, we have to print the voters’ cards of all the registrants and get them to come and collect their PVCs.

“The voters’ registration is not the only function the commission performs. It is also involved in the procurement of items in readiness for the 2023 elections.

“If the commission continues with the CVR, it will do a lot of damage to our other activities and we cannot afford to do that,” he said.

The electoral Act stipulated that the registration exercise ends 90 days to the elections. Ending the exercise in July means that INEC has broken the law and thereby disfranchised millions of eligible voters.

There were about seven million people who were yet to complete their registration by the time INEC ended the exercise in addition to millions of others who turn 18 between July and December 2022, prompting the lawsuit to compel the Commission to continue the exercise in accordance with the law.

But INEC has said that logistically, it is not prepared to extend the voters registration exercise beyond August 2022. Therefore, it is not clear if the electoral umpire is capable of obeying the court’s order.

The Influence of the “Be Yourself” Industry on Poverty in Nigeria

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It would be a huge mistake to believe that there are countries where there are no poor people. It would also be a great disservice to oneself to believe that poverty can be reduced or eliminated solely through the efforts of political and business leaders. God knows why He made things in double and, in most cases, binary options of positive and negative. He understands why He made certain people leaders at different stages of their lives and others followers. In all of these divisions, He gives everyone something that is completely unique and cannot be found in another person. In most cases, you may be unaware that you have the innate abilities to create and capture value monetarily, socially, and politically.

This is one of the main reasons why the “be yourself” industry is thriving all over the world. It is an industry that relies on inspirational talks, capacity building using do-it-yourself training formats, and books to produce, disseminate, and manage knowledge. People at the lower and middle income levels have really explored the industry in the developed world. However, in the developing world, the industry receives little attention.

A quick trend search in some countries in the global south, such as Nigeria, will reveal that people want to understand issues and challenges that may not allow them to escape knowledge and financial poverty. Regardless of the number of statistical and moral panics about Nigeria’s poverty level, our analysts believe that escaping the poverty net requires serious engagement with players and actors in the ‘be yourself industry,’ because poverty rhetoric has not yielded the desired results over the years.

According to the 2022 Multidimensional Poverty Index report, education is one of the tools required to address the problem. The same education is not easily accessible through the formal school of higher education institutions. This suggests that Nigerians, particularly youth, should explore the “be yourself industry.”

The industry’s speakers, writers, and participants (companies) have written a number of books and delivered seminars on a range of opportunities over the past five years. Our analyst, who is one of the players, just published a book explaining how Muslims can generate and seize value using Islamic principles. If reading books, going to trainings, and attending conferences to expand opportunity discovery and exploration are challenging, then using authentic internet sources for self-learning shouldn’t be a problem as long as getting on the internet isn’t challenging. But interacting with actors and players in the “be yourself industry” is still necessary.