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What Soludo Got Wrong on Peter Obi’s Investment and Development

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To Anambra State People: some Abians have mobilized here to buy-out all the next to nothing investments Governor Soludo said Governor Peter Obi made as a governor. At least, Anambra is lucky that the governors there make investments. In my own state, the governor has bragged about attracting KFC and Domino’s pizzas as signs of strategic investments in the state!

Prof Soludo underwhelmed and I am extremely disappointed reading his recent comments on Peter Obi. It was offensive and extremely unfortunate. He wrote and spoke like a lost intellectual, not a professor of economics.  In Southeast Nigeria, we used to mock Anambra state that its young people were not going to school, always moving into trading. It was ranked 27th out of 36 in the nation in WAEC and nearly 30th in JAMB.

Magically, within years, Anambra was ranked #1 in WAEC and top-3 in JAMB. For a professor to say that was not an investment must be repudiated. That effort boosted Anambra state literacy rate to 92.11% from less than 60%. All done within 8 years, according to NBS data.

Prof Soludo, you need to understand that you are a teacher even as you live in the government mansion. Development is not just about building houses, roads and companies. The biggest investment remains the people. Your state is ranked #1 in the Southeast in education attainment & development today, and that happened because Obi invested in young people when others did not care. Make your point but do not use your position to confuse; certain things should be off politics. You are free to attack Obi, Tinubu, Atiku, etc while promoting your party candidate, but be decent with facts!

Comment on Feed

Comment:  Prof i will expect you to criticise Prof Soludo and make your points. I will not subscribe to those derogatory and insultive words outlined here.

A Prof like you should not use those words either.

Two wrongs won’t make a right.

Referring to Prof Soludo as a lost intellectual is too ambiguous, colloquial.

Prof, you are a model many of us are following.

I will expect you use your strong influence to mend the gaps and not allow opponents to explore the weak link. This is becoming own goal.

If the South-East doesnt quickly intervene to precent this trending gaps, it is going to mirror the chances of Peter Obi and it will be a major minus.

Use your influence to unite the warring parties and let unity prevail in the South-East.

House dividing against itself may be dangerous.

God bless you sir.

My Response: “Referring to Prof Soludo as a lost intellectual is too ambiguous, colloquial.” – there is no better way to explain when a professor said that investing in young people is meaningless. Possibly, he expected Obi to invest in Google, Dangote Cement, etc. Before Obi became governor,  Anambra was nowhere in basic education (the school was spare parts). For him to posit that investment on policy ground must be buying shares, he is lost. My kinsman Prof MN Ogbonna who taught Soludo and  who is 93 years old could not understand his extrapolation. Unless he explains how human development is not investment, I will not change my conclusion.

Comment 2: You simply put it as it should be…With a verification link. The biggest investment is not just people but in educating the people. When people are well educated and informed, the assurance of an economic transformation will happen and that PO succeeded in doing. I am from Anambra State and we know that the education sector in Anambra improved tremendously under Peter Obi amidst other economic investment.

Comment 3: Prof, I’m always in a haste to read your comments on certain issues. Your objective opinions are always apt. You have shown that you’re polymath with the way you analyse issues despite being a scientist. I learn new things each time I read your articles.

However, I have observed that it’s only Igbo brothers that are against their own brothers. There is an adage that “even when people call your brother a thief, you must not go agree with them; rather, caution him in the secret so your family’s name won’t be dragged in the mud”. Prof. Soludo should be advised to keep his tempo down in the interest of brotherhood.

My Response: This is not Igbo, Hausa or Yoruba thing. Afenifere leader is supporting Obi, not Tinubu. It would be bad if every Igbo person is supporting Obi (do not wish for that). My senator (Orji Uzor Kalu) is supporting Tinubu, that is fine. That is democracy. Obi’s campaign lead is Okupe, a Yoruba man. Soludo can support anyone he wants. But I am asking him to avoid disinformation with his pulpit. That is all. Obi, Atiku, Tinubu, etc should win and lose based on facts and not fake news. Soludo was re-writing history in Anambra and we need to challenge him. It has nothing to do with voting for anyone. We are in the same group of eminent Igbos; he left. He cannot even defend his position.

Comment 4: One would think Obi transformed Anambra from a 3rd World State to a globally enviable commercial hub with the way you lot are moving mad about him. Constantly keen to attack any personality that gives a constructive assessment either of his person, claimed achievements and overall chances at the elections, rather than take a step back and objectively appraise his candidacy.

Chukwuma Charles Soludo remains a leading unbiased voice from the southeast. But even Prof’s leaning towards Obi won’t let him do any objective assessment of his candidacy.

My Response: This is not really about politics. As I noted, Soludo was fact-free. He based everything on investing in a beer company. The shares crashed (just like all companies in Nigeria since 2009, none has recovered). But that was not the only investment. There is the education investment. No one is attacking Soludo, we are asking him to be a better teacher.  I provided stats; you can conclude as you want. Anambra before Obi was the least educated state in Southeast with Ebonyi. Today, it is ranked #1 on education and development and that happened because they moved from 20s to top 3 in WAEC and JAMB. Is that not what we hope to happen? Leave elections from this – focus on development. 

Comment 5: Soludo goofed big time, he did not represent those that hold the title of ‘professor’ well, I do not even have a PhD, but intellectual masturbation is not what I forgive easily. He’s from a place where there are army of intellectuals who have distinguished themselves in every aspect of human endeavour, yet he chose to be petty. Soludo is a professor, but Peter Obi is more educated than him, Obi has studied more than Soludo. Titles don’t move my kind of person, but intellectual capital is always self-evident, it is not everyone that can be bamboozled with big words.

Both of Soludo and Obi, I know their histories and accomplishments, Obi is an investor, Soludo is not, but the latter somewhat believes that he knows a lot, even when he’s currently overwhelmed by simplest of tasks, such as keeping Onitsha clean…

This feud started in 2009, and I witnessed firsthand the rascality on display during the governorship campaign, you would think the trader was the professor while the professor was the trader; decency and civility aren’t what you acquire via titles, if you lack good moral character, then you are essentially empty.

Peter Obi is sacred in Anambra State, Soludo is just struggling for acceptance, so let him work harder.


The presidential candidate of the Labour Party, Peter Obi on Tuesday, said he did his little as governor of Anambra State and urged the incumbent governor, Chukwuma Soludo to do his best in the state as an economics professor.

Obi stated this at the 2022 Lagos Business School (LBS) Alumni Conference in Lagos.

The Anambra governor between 2006 and 2014 was reacting to Soludo’s comments that the investment he (Obi) left in government is worth close to nothing.

Also, Soludo on Monday had tackled Obi, saying he can’t win the 2023 presidential election.

‘Soludo Remains My Brother’

Reacting on Tuesday in Lagos, Obi described Soludo as his brother.

“He (Soludo) remains my brother, we are very close. I remain prayerful for him. For other things which I didn’t succeed at, God has given him opportunity to do it and succeed.

“So, if there is anything pending, governance doesn’t finish, people are still in government in America, so you stop where you will stop, other people will continue from there,” Obi said.

“He is the governor of the state; he is my senior brother, he is even more intelligent than me because he is a professor, I am a trader, so he knows more and will be able to do things better than I am doing it.

“I have done my little own as a trader, now the professor is there he will do his own as a professor, the schools I didn’t roof he will roof them, that’s how government goes.”

The former governor said he left the office with the savings of 75 Billion Naira, adding that his administration saved 50 million dollars each in Access, Diamond and Fidelity banks with an interest rate of 6.5%.

He further clarifies, “The one they said is worthless, we invested 3.5 billion naira in International Breweries…that facility is there employing directly and indirectly over 10,000 Anambarians. The shares was at a time being sold at N50, today the shares is about N5 or so.

“When you spread your investment some will go up some will come down but overall the company is still there, the company is still doing well, it is still part of the global chain and everything. I needed to explain it not because I am defending comments by my brother,” the LP candidate said.

He said he left the office without owing any contractor, supplier who had executed their job, citing the examples of Innoson Motors and Zinos Computers.

What CBDC Enactment tends to Curtail on Retail Crypto trading and DEXs

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While everyone is playing catch up on the SBF, FTX and Alameda Research Insolvency fiasco, the Power Players are already onto the next phase of Digital Bolshevism. Unless stopped, the Digital ID Act of 2022 will be signed into law next months slipped into the NDAA for FY23, setting up for widespread CBDC Adoption.

US – Fed announces CBDC 12 week pilot with major banks. Remember, CBDC’s must be stopped by the people or you can say goodbye to having any control over any aspect of your life ever again. The IMF aren’t joking, the parameters they set for digital currency will score control over you. Even on how much coffee you drink, this is tyranny, not freedom.

What CBDCs tends to Curtail on Retail trading and DEXs;

• Traceability: You will no longer transact anonymously, trading presumably tied to KYC.

• Negative Rates: There will be no option to hold physical cash.

• Programmability: Expiration & Helicopter money.

Some, wonder how long it will take before they start erasing history. Because if the CBDC is there, people shouldn’t be able to see that we were once free and were allowed to vote, because very few people know that that is coming. The blow-up of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance can solve through increased transparency and security.

Crises such as this one help to clarify the true merits of what we’re all building towards. I’ve been watching as the FTX story unfolds, and I am amazed at the amount of backlash and the people losing trust in crypto. This is just another centralized financial institution that collapsed due to mismanagement, over-leverage positions and/or plain fraud.

In 1796, the first land speculation bubble burst in the US, since it was the early days for the US as a nation, most US banks were heavily backed by their UK counterparts through debt and credit. When the bubble burst and loans could not be repaid, US banks started to fall. Alongside the looming threat of a French invasion, the brits started what we now call a bank run on local banks, which ended up with the Bank Restriction Act of 1797 restricting some payments to customers.

In 2022, FTX has done what most banks have done for hundreds of years, but just without a banking license (which is a big deal, but still). It has used its customers’ funds, in a ruse to make more money (or prevent the loss). Since Cryptocurrency isn’t regulated, and there was no FDIC insurance or central banks to jump to the rescue, everyone decided that crypto is a scam? Go check your history books. Sam is a Gen-z version of the same thing happening in finance since it was called finance.

The Implosion of FTX was supposed to be a coordinated controlled demolition of retail crypto followed by CBDC regulatory crackdown from the SEC, WEF, et-al, but it went off before they could all get out of the way. Online privacy is important, but I can turn it off. Computer security is important, but I can turn it off. Banking security is important, but I can use cash. Once CBDCs is in place, it is I who can be turned off.

Congress has some questions. The U.S. House Financial Services Committee plans to conduct a December hearing on the collapse of cryptocurrency exchange FTX, Reuters reported Wednesday. Committee leaders said they will seek testimony from former FTX CEO Sam Bankman-Fried, officials involved with the FTX-linked crypto trading firm Alameda Research, and rival crypto exchange Binance. Some members of Congress have called for new laws designed to protect consumers from events like FTX’s bankruptcy filing, which is expected to involve more than 1 million creditors owed billions of dollars.  (Datasheet newsletter)

Presumably, if the CBDC enactment goes through you will never be able to bet your friend 1000 dollars on the Super Bowl, buy a TV from your neighborhood, get a tip, cut a lawn, give your mom 200 dollars to get lunch,  buy a fat sack from your dealer without a taxable event taking place, download a betting app to start your betting journey and more.

Mike Alfred tweeted; Shadows will bail him out before it gets to the point of disarray. They are far more concerned about the information’s SBF could reveal to them, or information that would come to light through the bankruptcy proceedings. If SBF doesn’t get prosecuted on the Bankruptcy and Frauds on FTX, it should be absolutely clear he has ties to Washington and the Fed. This implies, FTX was created to fail and bring about CeFi & DeFi regulations that’ll halt crypto progress and usher in the CBDC enforcement.

Why Greater R&D Spending May Not Mean Greater Innovation, Profit or Expansion

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Innovation and Research and Development are often addressed as interchangeable concepts and having causal relationships. The definition of Research and development (R&D) as “comprising creative and systematic work undertaken in order to increase knowledge and to devise new applications of already available knowledge” by the Organization of Economic Cooperation and Development (OECD 2015) may espouse an impression that Innovation is invariably a corollary to R&D.

However, authors have endeavoured to correct the longstanding misconception of R&D and Innovation and also challenge the assumption that having a huge R&D investment automatically translates to a breakthrough with innovation or market success.

In a article, titled; The Quest for Innovation: Addressing User Needs and Value Creation found in a collection by Hugo Campos Editor focussed in agricultural innovation and revolution, authors admitted the difference between R&D and Innovation could actually be a cause of misunderstandings, as well as conceptual, practical, and very expensive mistakes. They gave the following remarks:

“Though in theory, corporate R&D spending relates to increased innovation and the growth of revenues and profits, that’s not always the case. The magnitude of R&D expenditures is only moderately related to the number of innovative products/services launched or even those that gain high market share and profits.
The authors also stated this; “to some extent, confusing R&D and innovation arises from a narrow, technology-driven stance on innovation”. According to them:

“Innovation, by default, encompasses a much wider scope than R&D…Innovation involves three diverse capabilities which includes; discovery, incubation, and acceleration.

“In many cases, the resources, investments, and time required during the incubation and acceleration stages far exceed those needed to develop technologies in the first place.

“Indeed, within profit-seeking firms, R&D and market success are two different things” the authors further noted, citing evidences from a previous study.

Strategy& – a business unit within PricewaterhouseCoopers – was unable to find a statistically significant relationship between R&D spending and sustained financial success when it analyzed the top 1,000 most innovative companies over 12 years.

Spending on R&D was also found to be unrelated to growth in sales or profits. Moreover, the top 10 most innovative companies are rarely the top 10 spenders on R&D.

The table below depicts innovative companies in relation to their R&D spending:

Regarding the characteristics that separate the most innovative companies from less innovative ones, the article enumerate the following aspects of more innovative companies:

• Close alignment between innovation and business strategy

• Company-wide cultural support for innovation

• Close involvement by leadership with innovation programs

• Deep understanding of insights from end-users.

YouTube Announces Grants to Support African Creators

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A picture shows a You Tube logo on December 4, 2012 during LeWeb Paris 2012 in Saint-Denis near Paris. Le Web is Europe's largest tech conference, bringing together the entrepreneurs, leaders and influencers who shape the future of the internet. AFP PHOTO ERIC PIERMONT (Photo credit should read ERIC PIERMONT/AFP/Getty Images)

YouTube, online global streaming site has announced its expansion efforts to support creators and the creative economy in Africa with $20,000 and $50,000 respectively through the 2023 #YouTubeBlack Voices creators and artist cohorts.

This, according to the Vanguard, was made known in a statement made on Tuesday by Alex Okosi, Managing Director, Emerging Markets, YouTube EMEA. The YouTube official said the initiative from YouTube was a follow-up to a global, multi-year commitment made in 2020.

Mr Okosi stated that the grant was intended to uplift and grow Black creators, artists, songwriters, and producers on the platform, also adding that participant joining in this year’s cohort would go beyond the initial training to measure success with them over a long-term period. According to him, YouTube is seriously interested in the growth of the creative community in Africa.

The MD of YouTube EMEA disclosed this: 40 creators from Sub-Saharan Africa would be part of the 135 #YouTubeBlack Voices Creators selected globally, and among the 23 #YouTubeBlack Voices Artists selected for the programme were African fast-rising musical artists, Gyakie from Ghana, Kamo Mphela from South Africa, Asake from Nigeria and BNXN from Nigeria. He said, “grantees will receive $20,000 and $50,000 in seed funding.”

”We are excited about the creators, musical artists and producers from Africa joining others from across the world in the 2023 #YouTubeBlack Voices Fund.

‘’The initiative is dedicated to equipping up-and-coming Black creators and artists with the resources to succeed on our platform,” he said.

It was further stated that the artists, songwriters, and producers joining the #YouTubeBlack Voices Music Class of 2023 would be required to set goals, develop content strategy, and engage with their fans on YouTube, with the assistance of a YouTube partner manager. Mr. Okosi also stated there will be networking opportunities with other artists, songwriters, and producers included in the #YouTubeBlack Voices Fund.

According to Mr. Kosi, over the next few years, YouTube would be directly investing in more than 500 creators and artists from across the world. He said: “It is to support, grow, and fund their channels and content development through the #YouTubeBlack Voices Fund”.

Tekedia Capital Portfolio Startup, Ropay, a HR/Payroll Tech Company, is Hiring

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We invite you to join the Ropay team in Nigeria. They just changed their domain from ropay.ng to ropay.africa as the playbook widens. They are growing very fast in the HR/payroll tech space. Click here and apply.

Ropay is a Tekedia Capital portfolio company. It is an advanced payroll automation and compliance software created to help small businesses manage their payroll and vendor payments. In other words, roPay is a single platform with multiple solutions, handling payroll collation, tax, pensions & allowance calculations, team management, payroll automation and so much more!

It took them 13 months to hit $2 million GTV in April 2022 . In their July update, the number hit $3.5 million. They have done this with zero marketing. Now, we are confident that the product-market fit has been attained and the new phase is GROWTH. Join this new phase today.

CEO Agunbiade Adedokun is super-amazing. You will work with him and the whole team. We want you!


Ropay is an advanced payroll automation and compliance software created to help small businesses manage their payroll and vendor payments.

Responsibilities

  • Perform cost-benefit and needs analysis of existing/potential customers to meet their needs

  • Establish, develop and maintain positive business and customer relationships

  • Reach out to customer leads through cold calling and cold emailing

  • Set up meetings with potential clients and listen to their wishes and concerns

  • Prepare and deliver appropriate presentations on products and services

  • Create frequent reviews and reports with sales and financial data

  • Coordinate with the marketing design and content teams to generate digital advertising material

  • Maintain and update impeccable records of marketing metrics and results of past campaign.

Qualifications

  • BS degree in marketing or relevant field

  • Exceptional communication and presentation skills

  • Highly motivated and target driven with a proven track record in sales

  • Excellent selling, negotiation and communication skills

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  • Ability to create and deliver presentations tailored to the audience needs

  • Relationship management skills and openness to feedback

Apply here – https://forms.gle/Min3AB2iQGyEzREU7