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Think or Sink? Nigerians in Another VUCA World Ahead of 2023 General Elections

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People, businesses, and not-for-profit organizations have been residing in a world that is predicated on information symmetry and asymmetry since Nigeria gained its independence in 1960. The two information kinds must be possessed for enterprises, non-governmental organizations, and governmental organizations to succeed. A leader who owns symmetry messages or information is one who has knowledge that others in other enterprises or organizations do not. The ability to create and capture value that managers of other establishments are unable to generate and from which they do not gain offers managers of human and material resources an advantage. The management of other organizations are acting or acting in this situation of information asymmetry. This indicates that the managers are lacking the necessary information.

Our check indicates that this description has appeared throughout time in academic writing and professional journals, particularly in the field of integrated marketing communication. However, American military personnel developed the VUCA world idea some time ago as a result of challenging circumstances they encountered while performing their duty. Based on a variety of sources that our analyst investigated, American military personnel utilised this notion to clear up recognized snags using leadership-related presumptions to comprehend challenging scenarios and propose suitable answers.

Since then, VUCA, which stands for volatility, uncertainty, complexity, and ambiguity, has been used in nearly every aspect of business and human life in both the global north and south. It is not the purpose of this piece to explain how it has been applied in the corporate sector. Instead, it concentrates on offering some perspectives on how Nigeria and Nigerians are experiencing the world ahead of the general elections in 2023, particularly the presidential election.

Volatility

The VUCA world necessitates significant capacities and talents to respond to unforeseen changes based on available information and emerging material resources, such as technologies, it is evident from the American military perspective depicted before. Leaders need to deliberately use knowledge and resources to create opportunity for all stakeholders to succeed in their own ways. Nigerians understood what they want in terms of meaningful and lasting growth that left no one behind, regardless of ethnic group, sex, religion, and socioeconomic class, throughout the more than 30 years of the military governments. However, citizens are limited in their ability to exercise their civic rights due to the suspension of the laws and regulations that would otherwise enable them to make well-informed choices. This was primarily responsible for the harsh VUCA environment.

When the country fully reverted to democratic rule in 1999, things appeared to be looking up because constitutions and legal provisions for some political decisions had been reinstated. Like other democracies throughout the world, the country began to experience its share of unforeseen events, political ploys, and non-state actors prepared to undermine democratic government in all of its manifestations. Since 1999, the socioeconomic and political indices have been unpredictable, placing businesses and people in a VUCA world. As stated earlier, the focus of this piece is on situating the general elections in Nigeria in 2023 within the context of the volatile, uncertain, complex, and ambiguity (VUCA) world that has long served as a useful framework for comprehending challenging circumstances requiring strategic leadership.

Since 2021, Nigerians have seen significant political permutations from the political leaders and their parties on who will be the next president, similar to what happened before the previous elections. Our analyst believes that the political elites have been successful in stoking and maintaining a number of concerns ahead of and during primary elections. They were successful in turning the virtual world into a battleground by selling application forms for various posts at prices that attracted the attention of all citizens, particularly internet users. Due to opposing viewpoints that were stated and influenced by political elites’ machinations before the elections, buddies on the sphere turned into adversaries.

Uncertainty

Political parties and politicians practically sold the zoning idea to the southern region. Due to the main opposition party, the People’s Democratic Party, failing to uphold the idea, it was unclear a few days before the primary elections if the ruling party, the All Progressives Congress, would eventually implement it. Based on this, our analyst concludes that both groups were successful in luring Nigerians who lacked first-hand knowledge of the idea’s demise into the world of information asymmetry.

Complexity

When the main opposition dropped the zoning idea, the realization of the ambitions and aspirations of the southern region initially became difficult. It was tense when the ruling party nominated Senator Bola Ahmed Tinubu, a former governor of Lagos State who has been seen as a political godfather of the South West. Nigerians, particularly the youth, were startled that political figures that had ruled the country since 1999 still made the race for president. They consider Mr. Peter Obi, the former governor of Anambra State, to be the main opposition party’s candidate because he is more qualified and competent. They contend that Mr. Peter Obi was expelled from the party by forces opposed to expected positive changes in Nigeria.

Ambiguity

Although Mr. Peter Obi has been told by the political gladiators that he cannot win the presidential election in 2023, the majority of young people (netizens) believe he has the capacity and ability to lead Nigeria in the current VUCA world (where socioeconomic indices are not favoring citizens and the country’s place in international politics is eroding annually). Many of the gladiators have frequently criticized Mr. Peter Obi, who is running through the Labour Party, for lacking structure. They added that social media does not win elections. They assert that LP has no actual voters who will be present at the various polling places, only online voters. Unlike online voters, who would be posting, like, and sharing information on numerous social networking sites on election day. With these comments, the political gladiators and public affairs analysts have successfully raised the level of ambiguity around the choice of the presidential candidate (Mr. Peter Obi).

Mr. Peter Obi, the new product that young people hope would improve the socioeconomic and political climate of their country, fits into the ambiguity component of the VUCA world. Everyone now appears to be experiencing the haziness of reality and the ambiguity of the conditions. Yes, there is a daily increase in the number of young people signing up to vote. However, are they able to build the kind of structure required to win elections in Nigeria? Answering this question is crucial since political gladitators and public affairs specialists are still sowing misunderstanding about Mr. Peter Obi’s voting cause and effect.

Think or Sink?

Political elites are undoubtedly well-positioned as holders of symmetric knowledge due to their closeness and strategic relationship with other societal elements. Consider how you can behave differently during the 2023 presidential election, together with every other citizen. Voting should be based on considering the advantages and disadvantages of a candidate’s leadership style, accomplishments, and capacity to lead in the VUCA scenario that was previously portrayed for Nigeria. Our analyst points out that not only corporate and political leaders or politicians need to comprehend the assumptions of the VUCA environment to solve difficulties in order to make effective decisions during the election. The premises must also be taken into account by the populace, particularly the electorate.

For instance, citizens should look for accurate information from dependable sources because political parties, officials, candidates, and their followers will continue to utilize a variety of strategies to create muddled causes and consequences. Understanding how media conventions or procedures produce electoral and governance concerns favour the political elites more than the general public during an election cycle is necessary. Not all national media works for the benefit of the public. Citizens must have a fresh viewpoint on each problem and use flexibility in their decision-making if they are to overcome the unpredictable conditions.

As other players would continue to prosper through the aspects created for the complicated problems, it is necessary to develop collaborative leadership in order to address the identified complex issues. The secret to handling unclear situations is to listen and think in different ways. It is not always necessary to view candidates who are deemed competent and qualified as saints. It is necessary to go further into their histories and present to see how they could support Nigeria in the VUCA world of today.

Best Way To Validate a Business

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A founder who tries to validate a business via surveys, market research, interviews, and focus groups will struggle because your validation will end at the Needs and Expectation phases. Greatness comes when you can validate at the Perception phase. For that to happen, you need to answer the following: Why, How and What. 

At Why, you conceptualize the Problem and Market Fit, crafting a product Demo, planning how to Sell and what to Build. 

At the How , you think of the minimalist version of that Build. You Measure it, Learning from the experience.

The outcome of that learning is the MVP (minimum viable product). MVP, using set theory, is the overlapping region between all possible products and the market. In other words, the minimum product that makes it into the market, viably. The MVP is your product/market fit region, and with that, you have got a product that satisfies a market. 

That MVP is the business validation because it is VIABLE even in its minimalist stage. Forget the surveys, focus groups, etc unless they are integrated to help you get to the MVP and attain product/market fit at scale. This tracks Minimum Viable Demand (MVD).

Comment on LinkedIn Feed

Comment: So what questions does the market survey/research ask different from Why, What, and How? Is perception not factored into market surveys/research? Is perception all that sustains sales and brand loyalty? Does perception end with MVP development ? Is MVP tested outside the focus group or target market? Is perception measured only after building MVP? How is MVP perception different from focus group/target market expressed want, in other words, is the MVP built outside the wants/needs of the target market or focused group? Please update me because it seems I am still in the analogue space in this business.

My ResponseWatch the video – you will answer these questions. You can be a typical founder by using surveys. But you become a legend by CREATING a new world.  A world that never existed which people may not even pick in surveys. Steve Jobs did not use surveys because he was of the opinion that even users do not know what they want. But when you open a new world, through great products, they come along.

The  iPhone was rejected by Verizon but it won in markets. My point is this, if you want to be a GREAT Founder,  you have to create a world no one can imagine now, and that comes not by asking people questions in the ways we do in focus groups. Rather, you go out and seed a new world none ever imagined. That is the real new basis of competition and that is the Perception demand. 

How do you expect someone to offer an opinion in a world they cannot conceive? That was why Verizon leaders did not see value in the iPhone prototype. But when the MVP got into the market, they called back . Apple then told them that it was all in AT&T. Watch the video on click.

Comment 1: Does the MVP represent the final product? If not, how do you determine the final product or solution

My Response: MVP does not represent the final product. MVP is simply the least viable product in the market. If it is least and fails, that means it is not viable. Understand that Google, Facebook, etc are still building their products despite having launched decades ago. The point is this: MVP is not final but the least viable form of a product.

Understanding Minimum Viable Demand (MVD) for Digital Startups

Planning a Career in a New Country

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Join me tomorrow in Tekedia Mini-MBA as we discuss how to prepare for global careers. We offer this course to help young people who are planning for international jobs or going for further education. There are many phases in that transition: before you leave native country, when you just arrived in the new country, and at maturity in that new country.

People, America can work for you if moving from Kenya.. Ghana can work for you if moving from Nigeria. The UK can work for you if moving from Mali. But you need to understand certain things.

One secret: a good credit score will make you very rich even if you have no cash in the developed world! I have a FICO score of 835 (out of a maximum of 850). With that score, instead of getting credits at 21%, I do get offers at 3%. Join me and let us have a great conversation tomorrow; Zoom link in the Board.

This course is coming tomorrow because we have an Amazon business leader who will be teaching How to Build MVP on Saturday. 

Register for the next edition of Tekedia Mini-MBA here.

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With 41 countries in our business school, we have manuals which help young professionals who have left their home nations for new careers or further education in new domains. How can you win in America, UK, Ghana, Kenya, Nigeria, Rwanda, China, etc, out of your home nation? At Tekedia Mini-MBA, we have those conversations. In America, for example, you need to build your credit as quickly as possible. That will help you get credits at low rates (my FICO score is 835 out of possible 850 ).

With that score (rated Exceptional), I do not just save money on rates, I have access to many products at the best rates America offers. If you compound those, you are saving tons of money (3% when others are paying 18%). It is a little thing but it opens many opportunities. Come with your questions – and let us have a conversation.

Registration for the next edition of Tekedia Mini-MBA (Sept 12 – Dec 2022) continues here https://school.tekedia.com/course/mmba9/

(On Saturday, we will have an Amazon USA executive on Developing MVP; I will teach today while he takes Saturday)

That leadership cannot ride keke

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Obasanjo picks a temporary job:  “Former President Olusegun Obasanjo stunned residents of Abeokuta, Ogun State, on Saturday when he turned himself into a commercial tricycle rider, popularly called Keke, picking and dropping passengers across the capital.” Yes, he is celebrating his 85th birthday and catching fun with life. (The ride would have been magical if not for those MOPOL and SSS around the keke.)

I am a fan of OBJ because he got things done while he was in power. He was not perfect (the 3rd term agenda) but he made everyone proud to be a Nigerian. Unlike today where getting a Nigerian passport seems like passing the seven seas of African folklore, Obasanjo would have called all the responsible parties to order.

People, how can a country not have the ability to produce its passports? I mean, you pay and it takes months, and no one has been sacked. If a national leadership cannot figure out how to print passports for citizens after more than 3 years of paralysis and national embarrassment, forget that leadership!

That leadership cannot ride keke.

Mr Obasanjo started the trip from the Moshood Abiola Way end of the road, near the Nigeria National Petroleum Corporation (NNPC) mega station.

The former president, dressed in his native Yoruba native attire with a fez cap, was spotted carrying passengers from the take off spot and heading towards the end of the popular Kuto market in the town.

The development, part of activities to mark his 85th birthday, excited the residents, many of whom ran after his Keke, eagerly attempting to board and ride with him.

Digitalising Payments Will Increase Mobile Money Account In Nigeria – World Bank

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The world bank disclosed that digitizing cash payments will increase the number of mobile money accounts in Nigeria and other sub-Saharan African countries.

The world bank revealed that although mobile money has gained widespread adoption in the African region, which is three times larger than the 10 percent global average, 55 million adults still receive payment for agricultural products by cash.

A report by the Global Findex 2021 database, disclosed that in sub-Saharan Africa, mobile money adoption has continued to rise, where it is estimated that 33 percent of adults now have a mobile money account, a share 3 times larger than the 10 percent global average.

Mobile money services which were originally created to enable people to send remittances to friends and family members living elsewhere within the country, it is interesting to note that the adoption and usage of these services have spread beyond those origins, such that 3 out of 4 mobile account owners in 2021 made or received at least one payment that was not person-to-person, and 15 percent of adults used their mobile money account to save.

However, a lack of mobile phones is cited as a barrier to mobile money account adoption, which is a constraint to increasing account ownership in the region, including the digitalizing of cash payments for about 65 million adults with no account for receiving payments for agricultural products.

The covid-19 pandemic has been disclosed as one of the factors that increased financial inclusion by driving a surge in digital payments amid the expansion of formal financial services.

This expansion has been disclosed to create new economic opportunities, narrowed the gender gap in account ownership, and built resilience at the household level to better manage financial shocks.

As of 2021, 76 percent of adults were reported to have a bank account, with a mobile money provider, and other financial institutions. One beautiful aspect of mobile money is that every transaction and account balance is stored in the digital payment platform, and even if a person misplaced his phone or sim card, the money is still very safe.

Digital payments are safe, fast, and secure with ease of operation that does not require one to be literate or tech-savvy before they can perform transactions. With about 22 percent of adults worldwide revealed to not having any form of savings at a formal financial institution, digital payments have therefore created the opportunity to include poor people in a system of automatic deposits that enables them to overcome the psychological barriers of saving.

According to some groups of researchers, they found out that in Malawi, direct deposit of cash crop receipts into farmers’ savings accounts helped boost productivity. As these farmers invested 13 percent more in farm inputs than those who weren’t offered the option and received their crop proceeds in cash.

In low and middle-income countries like Nigeria for example, where millions of people remain unbanked, mobile money has aided these people to access financial services while tackling their over-reliance on cash.

The digitization of financial services during the pandemic was one of the key growth drivers for Africa. Digitization of banking service channels is strongly and significantly associated with economic growth where it provides people the convenient access to a diverse range of financial products and services which can boost aggregate expenditure by improving the GDP level.