Join me to welcome a really fascinating non-profit in Nigeria to Tekedia Institute: Be The Help Foundation. Be The Help Foundation runs an agroforestry project  and offers  hands-on training centers for agroforestry and rural development.  The team will spend weeks at Tekedia Institute, and together we will co-learn on business systems and productivity elements. Tekedia Corporate Training helps companies optimize factors of production to become more efficient, and  thrive.

The best companies attend Tekedia Institute. With our 250 world-class faculty, we exceed the expectations of clients. That is why more companies choose our Institute . Learn more here 

Tekedia Institute offers virtual (online) corporate courses and workshops to startups, SMEs, NGOs, corporations and public sector entities. On engagement, we design, develop and deliver live corporate courses and workshops on many business domains (see below) using our Faculty.  We have served senior, middle and junior management cadres of companies besides general staff, including entry level employees in our  training program. We’re here to help you execute that business mission by deepening the capabilities of your manpower. Here are some attributes:

• Custom and Consultative Training: Our training is consultative in structure and that means that we partner with you to gain a deep understanding of existing skills gaps in your organization as we design the curriculum. With those insights, we architect a roadmap, customizing and curating our courseware and programs to help achieve your strategic business objectives.
• Project- and Case-Components: Our training includes business cases which are drawn from diverse sectors and geographies. Our faculty are leaders in leading local and global companies, and they ensure that our courseware is fresh, relevant and applicable to real business challenges.

Shortly after the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) nullified the approval of the Seplat-ExxonMobil deal by President Muhammadu Buhari, the president reversed his authorization.

Nigeria’s upstream petroleum regulator had said the president has no right to approve the transaction as it requires regulatory approval.

Presidential spokesperson, Garba Shehu, told Premium Times on Wednesday that the president has decided to support the position of the NUPRC in the deal.

According to him, previous confusion was because “various agencies involved in (the) decision had not coordinated well among themselves”.

When TheCable asked if there would be proper communication over the issue, he said “I have no statement to issue”.

The deal would have seen Seplat Energy Plc acquiring the entire share capital of Mobil Producing Nigeria Unlimited (MPNU), a local unit of ExxonMobil Corporation, for $1.3 billion.

The deal, which was consummated in February, became a subject of dispute on Monday after Buhari gave his approval.

The Nigerian National Petroleum Corporation (NNPC) had on July 6, obtained a court judgment to halt the deal. The NNPC’s prayer was for the court to declare that a conflict happened between the state-owned oil company and MPNU over the “interpretation of preemption rights under their Joint Operating Agreement (“JOA”) and order NNPC and MPNU to arbitration as required by the JOA.”

But Seplat Energy had argued that neither itself nor Seplat Energy Offshore Limited was a party in the lawsuit, and insisted the share purchase agreement remained valid.

In a corporate filing on Wednesday, Seplat Energy said it secured all the relevant approvals and followed due process in the acquisition of the assets.

“Seplat Energy has become aware of news and social media reports alleging impropriety in the process of securing ministerial consent to the acquisition of Mobil Producing Nigeria Unlimited by Seplat Energy Offshore Limited.

“Such reports are wholly untrue, and the company will pursue legal action against any parties involved in disseminating false information related to its business,” the statement reads.

It is not clear the next direction the deal will take since the presidential spokesperson didn’t provide further details in his statement. However, the NUPRC has maintained that the deal is subject to regulatory approval.

“As it were, the issue at stake is purely a regulatory matter and the Commission had earlier communicated the decline of Ministerial assent to ExxonMobil in this regard. As such the Commission further affirms that the status quo remains,” the regulatory body said.

In 1776, Adam Smith wrote his masterpiece – the Wealth of Nations. He followed up with other works, explaining productivity and the power of the “invisible hand”. Free market systems advance economies, by making products better, through healthy competitions. Indeed, the freedom of production and consumption, under market forces, accelerates innovation which improves societies.

Factors of production are the pillars upon which the market system operates. And in those factors, Labour remains extremely catalytic. The nature and the form of labour are evolving as a result of technology systems which continue to redesign the interdependent relationships that connect people, firms and nations.

In the industrial age economy, Labour was mainly in the meatspace (physical and atoms). Today, a new paradigm has emerged. Yes, Labour has added remote (digital and byte). Join me on Sept 10 2022 as I keynote African Freelancers’ Summit 2022.

You will understand the changes. Many young men and women are living in Lagos but they work in Estonia, America, Canada, etc daily.  As companies follow Adam Smith’s division of labour thesis, they are going remote, and Africa is positioned for that future. The LABOUR of the future would be unbounded and unconstrained by geography; plan for it. Two Saturdays ago, I keynoted 4 events on the same day, covering 3 continents. Is that not efficient? Adam Smith would have said “it is”.