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Rising Cost Of Food Prices In Nigeria – Nigeria Food Council Set To Meet

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Due to the rising cost of food prices in the country, the National food security council is set to meet to address the issue. The council which was set up in 2018 by the President Buhari-led administration with the objective of responding to climate change, farmers/Fulani herdsmen clash, and desertification and its impacts on farmlands.

The council is also charged with the responsibility to address issues of grazing areas, rivers and other water bodies, oil spillage and its impact on the aquatic life in the Niger Delta region, piracy and banditry, agricultural research institutions and extension services and the problem of smuggling.

The high price of food has therefore prompted the federal executive council to hold a meeting, urging the Nigerian food council to meet immediately and address the issue affecting the high price of foodstuffs in the country. They also urged the council to provide a plan and some methods in which the nation can implement, to reduce the cost of food to support improved food prices for the citizens.

This inflation has also forced the Central Bank Of Nigeria (CBN), to adjust the MPR to 13 percent in the last MPC which is an attempt to manage the cost of inflation. According to analysts, they disclosed that Nigeria’s inflation is not caused by having too much money in the system, but by a short supply of food and other items.

They further disclosed that increasing the interest rates may not solve the high price of food in the country. Last year, President Buhari disclosed that the spike in the price of food was caused by middlemen who were buying and holding essential commodities.

How ironic it is that a large percentage of Nigerians are contending with high prices of food items, meanwhile the government has been celebrating its acclaimed interventions and investment in the agricultural sector.

One question that is likely on everyone’s lip is this. Since the government claims to constantly fund the agricultural sector, why is the country not feeling the impact of these interventions? It’s either the government is not being honest, or the middlemen in charge of the disbursement of loans, farm tools, fertilizers, etc, are siphoning these funds and selling off these equipment without giving it to the farmers.

There is no disputing the fact that the agricultural sector has been ravaged with widespread corruption, from these so called middlemen. It is disheartening to know that most of these farmers never get to receive what is being supplied to them by private institutions and the government.

This was the reason why the president of African Development Bank (AFDB), Mr. Akinwunmi Adesina suggested the introduction of the wallet system because it will cut off these middlemen ensuring that farmers are the ones directly receiving the funds and the links.

If one is observant enough, he or she will notice that a large percentage of Nigerians are becoming increasingly aggrieved due to the unabating rise in the prices of foodstuff. It’s high time the government declared war on hunger and put in measures to mitigate hunger in the country.

They should properly fund the sector, since they claim to properly fund the sector, they should go ahead to investigate why the sector continues to underperform and prosecute whoever is behind such menace. There is a strong need to also produce foods in the country to stop the importation of food commodities. Inflation in food prices can only be curbed when the country produces a large percentage of its food products.

Design Thinking and Innovation at Tekedia Institute

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He is a master of design thinking and innovation. He helps organizations translate business frictions into components, and how through Design Thinking, they can create winning solutions in markets. Aderinola Oloruntoye of SAP, a global technology giant, will teach us in Week 2, at Tekedia Live.

Tekedia Institute is the best business school for the mastery of entrepreneurial capitalism in Africa. Our faculty members are business leaders and practitioners in markets who understand the mechanics of business.

Tekedia Mini-MBA begins on Monday, June 6. Come here and learn how to design – and how to innovate, from our “Dean”, Mr. Oloruntoye.

Update: Our Design Thinking and Innovation Faculty is offering Free Digital Transformation Business Case Development for 5 Digital Transformation Program Leaders/Managers or Companies so they can prioritize and deliver their Digital Initiatives with Stakeholder Value at the center. He will be live on June 14 during a live class session and will provide more insights.

We’re very excited that he is offering this to the new edition of Tekedia Institute Mini-MBA; last time he did the same, a governor of Anambra State hired one of our learners to develop the innovation ecosystem project. The learner submitted his class project to the state and the governor saw it and hired him! And the new Prof Soludo government has retained the learner.

On the selection, we do not know the best way to do the selection since I expect dozens of members to be interested. But let us meet in the class and work out the best way.

We have started scheduling our Faculty for Tekedia Mini-MBA live Zoom sessions. Eromosele Omomhenle F.IMS , a Senior Manager, Global ISV Alliances and Partner Development at Microsoft global headquarters in Redmond, USA, will anchor a session on Business Strategy & Execution.  Tekedia Institute Mini-MBA begins on Monday, June 6. Register today.

Tekedia Capital Congratulates TAP for the recognition by Built in Africa

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Let me congratulate Touch and Pay Technologies Ltd (YC W22) for the recognition by Built in Africa. TAP is one of the fastest growing companies in the continent and the category-king on microtransactions (say 10 cents to $10). About three years ago, it was processing N5 million per month; today, it is hitting close to N5 billion ($10 million) per month. The total customer base is now close to 2 million and more than 20% use the solution daily.

At Tekedia Capital, we admire innovators and agents of change. Congrats Olamide. Michael, Ogochukwu and Kabir.

TAP is expanding rapidly into Africa and is open to work with governments and institutions. Reach out. With TAP, revenue is assured and its technology is industry-leading.

Today is early bird registration deadline for Tekedia Mini-MBA 8

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Today is the early bird deadline with all the additional benefits (books, facyber, special weeks, etc) to attend Tekedia Institute Mini-MBA which begins on Monday.  The theme is innovation, business growth and digital operational overlay. We will cover all industrial sectors; it will be amazing. Go here, register and let us begin the academic excursion on Monday.

(If you have paid, you ought to have received your login to the Board by now.  WhatsApp Group is also up in the Board. Team operates 24/7 to provide support anytime. Welcome.)

Tekedia Institute offers Tekedia Mini-MBA, an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents. Besides, programs are designed for ALL sectors, from fintech to construction, healthcare to manufacturing, agriculture to real estate, etc.

Things you must know before you approach any court to address your grievances

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Before you go to court to seek redress for any action, there are several issues that you must consider or you risk losing the case or having your matter struck out by the court.

Sometimes people are so eager and excited to rush to court on every bit of grievances. People should know that the court is the last resort, i.e. when you have reasonably tried to settle the matter in other ways and it’s not working then you can approach the court. Going to court to seek redress should never be the first option rather than the last option for you.

Before you approach the court, there are prerequisites that you must have met or expected to meet, and the court is bound to look into whether you have done that or checked those boxes,  if not your case may get struck out or you stand losing the case in court. 

First, before you approach the court you are expected to ask yourself whether you have a “locus standi” in the extant matter. This means, the matter you are eager to approach the court for redress, does it personally concern you or do you have a personal interest in that matter. If the answer is in the negative, the court is bound to strike out your matter because the matter no matter how grievous your grievances may be does not directly concern you and you will be tagged as a meddlesome interloper or a busybody who just wants to waste the court’s valued time. 

Next, before you approach any court for any matter, you should ask yourself which court is competent to hear the matter. This means that not all courts are competent or have the capacity to hear every matter. You should first consider which court has the jurisdiction to attend to the matter. Not all courts have jurisdiction over every matter. There’s territorial jurisdiction and then monetary jurisdiction. For example, The High court of any state has the territorial jurisdiction to hear any matter relating to land that is situated in that state. This is called; Lex Situs”. 

If you take a matter that a magistrate court is not competent to attend to the magistrate court, the matter will be struck out on the ground of jurisdiction of the court. For example, In tenancy matters, when the tenancy sum is below Ten million Naira, the magistrate court has jurisdiction but when the tenancy sum is above ten million Naira, it will be above the monetary jurisdiction of the magistrate court and you are expected to approach the high court in that instance.

Again, before you approach the court to address your grievances, you should also consider if the offense or the grievances you want to table before the court is an offense known to law. It is the law as provided in S 36(12) of the constitution that a person should never be punished for any offense that was not provided for in any law or act. This is to say that if your aggressor’s action has not been provided for in any law or punishable by any law then the offense or grievances you want to approach the court to seek redress for is not known to the law and you will just be a time-waster. An example of an offense not known to the law is adultery or fornication. You cannot sue your partner for cheating on you because the act of fornication or adultery was not made an offense or provided for as an offense in any Nigerian law or act. 

More so, before you go to court to seek redress, you should also consider if your aggressor is someone who can be sued. There’s something called legal immunity and it is a shield that covers some class of persons and places a mark on them to make them “unsueable” by anybody. For example, you cannot sue a sitting president or a sitting governor for any act whatsoever for the time they are still serving in that capacity, so also you cannot sue another country’s representative or a diplomat, this is called diplomatic immunity. 

Also, before you approach the court the court expects you to have tried to settle the matter amicably before coming to them and it is only when your approach for out-of-court settlement fails that you can approach the court. The court expects every aggrieved person to seek other alternative dispute resolution schemes (ADR) like negotiation, mediation, arbitration, etc. If you did not consider this option through a letter of demands or pre-action notices then your case may risk getting struck out. 

The court docket is filled up with a lot of cases and the court gets very angry when a so-called aggrieved person wants to waste their time or add more to their job by bringing up an unnecessary and frivolous suit or bringing up a matter in the court where the court is not competent or lack the jurisdiction to attend to hence the reason why an aggrieved person must check all the boxes of the perquisites stated above before approaching the court of law for redress.