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Factories and Warehouses of Nigeria Hold the Strength of Naira

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Nigerian naira banknotes are seen in this picture illustration, September 10, 2018. REUTERS/Afolabi Sotunde/File Photo

The strength of Nigerian Naira comes from warehouses and factories, and not from the Central Bank of Nigeria (CBN) headquarters. Those warehouses and factories include the old (the traditional firms like Innoson Motors, Dangote Cement) and the modern  ones (like Paystack, Tomato Jos). Until the CBN can use its monetary tools to elevate them, it cannot win the fight for Naira.

As this election season begins, if you want to strengthen the Naira, vote for visionaries who understand the multifaceted global economic system, with defined roles on where Nigeria can play.

Anyone who tells you that he will make N1 = $1, via fiat, is a liar by default; only the factories have the real powers to determine those. So, the question is really: who can help us create better factories, the old and the modern?

I have a minor roadmap here here

Inventing New Business Models – A Case Study of Egoras

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It is one of the most important new business models in Nigeria. He has grown from three people to more than 200 in 18 months. And he just acquired a massive building to turn into a factory where engineers will refurbish electronics, a/cs, generators, sofas, etc.

Tomorrow, CEO of Egoras, Ugoji Harry will be at Tekedia Mini-MBA to discuss how he invented a new business model with zero-interest lending, and refurbishment engineering and the path to the 1000th staff. When its new showroom opened in PHC a few weeks ago, everything was sold within hours.

Come and learn how innovators are thriving despite all the challenges. Respect the supremacy of business models in markets. Egoras is leading and we will be learning. Zoom link in the Board.

Learn more about Tekedia Institute, a school for innovators, builders, makers and project champions.

Nigeria 2023: As Gov. Abiodun Declares Support For Osinbajo

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The Ogun State Governor, Mr. Dapo Abiodun has declared support for the presidential ambition of Nigeria’s Vice President (VP), Prof. Yemi Osinbajo.

A statement by the governor’s Chief Press Secretary, Mr. Kunle Somorin read that Mr. Abiodun and the delegates from Ogun State would support Osinbajo to enable him “continue with some of the laudable projects of the President Muhammadu Buhari-led administration.”

Mr. Abiodun’s declaration for Osinbajo has dealt an apparent blow to Bola Tinubu, another APC presidential aspirant, who has been banking on the governor’s support in the South-West region of the country.

Prof. Osinbajo arrived in Ogun State, which happens to be his home state, on 26th April 2022 in continuation of his nationwide consultation with key personalities and party delegates ahead of next month’s presidential primaries of the ruling All Progressives Congress (APC).

During a meeting with Mr. Abiodun at the Presidential Lodge, Ibara, Abeokuta, the Governor said the VP was “eminently qualified” to lead the country.

He said, “The Vice President’s presence here is homecoming. We are pleased with his decision to run for the Office of the President. He is competent and committed to lead the country in a higher capacity.

“Your steadfastness, integrity and character are all well known. You are serving this country and the president meritoriously for the last seven years as the Vice President.

“We have no doubt that you will do well as the president and we will support you,” he added.

The governor, who extolled the VP’s academic exploits, recalled how he stood behind his gubernatorial election and described him as a man who is interested in fairness, justice, equity and the rule of law.

While speaking, Prof. Osinbajo stated he was not in the state to campaign, but to inform his people of his intention to run for President, saying he had consulted widely across all sections of the society, including with President Buhari, before throwing his hat into the ring.

Recounting his contributions to the present Federal Government, Osinbajo disclosed he was actively involved in the judiciary reforms of the country and its repositioning to work optimally, and ensured judges were adequately remunerated

He said working with President Buhari had exposed him to governance at the highest level and placed him in a position to tackle serious issues concerning economy, and security, among others.

“The Vice President position is an opportunity to serve and I have served with utmost loyalty. I put everything into my work. I am a candidate who will hit the ground running when I am elected.

“I have the requisite knowledge to do the job and build on what others have put in place. My presidency will bring peace, unity and development to the country.”

“After all, I have learnt if called upon to serve the nation, should I say no? I have decided that I will run for the office. I have sworn an oath to the Federal Republic of Nigeria. It is an oath to our people, our children and the future of Nigeria. I owe nobody else any allegiance outside the oath.” He frantically added.

The paramount Ruler of Remoland, Babatunde Ajayi, in his remarks, opined that the VP was competent with the required qualification to lead the nation, observing his performance as the Acting President when Buhari was unavoidably away was there for all to see.

Speaking on the ambition of the VP, another Royal Father, the Alake of Egbaland, Adedotun Gbadebo attested to the competence of Prof. Osinbajo.

He said, “The Vice President has paid his dues and is eminently qualified to succeed as President. I want to pray that you will come back to this Palace as a President and Nigeria will gain tremendously under your watch.”

Prof. Osinbajo’s seeming unquenchable boldness to continue with his ambition to contest for the Presidency come 2023, is really amazing and entertaining, to say the least.

It’s noteworthy that the political story of Prof. Osinbajo won’t be complete without mentioning Bola Tinubu, who is equally aspiring to succeed President Buhari in 2023 under the aegis of the APC. In fact, his political odyssey commenced owing to the efforts of Tinubu.

Gov. Abiodun, on his part, can’t complete writing his political profile without mentioning Tinubu in most of the lines. This is a fact and indisputable.

The rare boldness, as indicated above, though not unusual in the game of politics, is the prime reason most Nigerians are interested in Osinbajo’s aspiration. They actually want to watch him contest against his so-called godfather.

According to most citizens of Nigeria, Tinubu had been parading himself as a demigod, hence needs to be told that the country doesn’t belong to anyone, no matter how highly placed.

The Clogs in ASUU’s Four Year Strike Playbook

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From the United States of America to India and Italy to Egypt, several famous industrial actions were recorded in the 18th century and of the recent centuries. Like Egypt, Nigeria also had some notable industrial actions. The country had its first general strike in 1945, lasted for 44 days in the capital city and 53 days in the regions. It was purposely led by nationalist leaders and supported by various socioeconomic groups such as women. 

Several sources described the action as anti-colonial administration in readiness for the country’s independence in 1960. Nigeria has had and continues to have various industrial strikes by public employees many years after achieving independence. According to our analysis, the instrument has primarily been used by public employees in strategic agencies, departments, ministries, and educational institutions in recent years.

Strikes are not new to many stakeholders in educational institutions, particularly students, due to the widespread use of the instrument by academic and non-academic personnel. It is a strategic combination of activities aimed at forcing employers to give in to labour demands. 

Increased salary, better working conditions, or reparation of rights violations could be among the requests. When you consider this term in the context of the Academic Staff Union of Universities’ recent actions, it’s clear that the union seeks better working conditions and pay for its members.

Political Economy of the Strike Strategy

Despite the union’s good intentions, our trace and observational analyses of strike actions since 1999 revealed that the union’s actions occurred mostly during key stages of the electoral cycle. According to public affairs analysts who spoke with our analyst, this suggests that the union goes on strike when it believes the government will suffer significant consequences if prior agreements are not implemented.  Recent occurrences at several union-affiliated state universities, on the other hand, suggest that the union may soon lose its relevance as a voice for employees. This is based on the fact that local branches are now interpreting the instrument as a recurring decimal, implying that the technique isn’t working.

Unrealistic Strike Strategy

Every year that the union uses the tool, all parties involved suffer the repercussions. Lower-level academics and students, as well as small companies in cities and towns where universities are located, suffer the greatest severe consequences. Our analyst agrees that the instrument cannot deliver the desired effects, noting that the negotiators’ behaviour during prior strike actions has demonstrated that the playbook cannot yield major results.

The government’s representatives understand that the union can’t keep the strike going for long, knowing that younger academics won’t be able to endure it due to their limited financial means. This, according to our analysis, is one of the reasons why the union abruptly postponed several previous moves adopting a “conditionally” approach. When the union returns for another action, it uses the “violation of agreement” approach.

The union’s leadership has to evaluate the playbook after relying on these approaches since 1999 and failing to achieve the desired results. Based on Nigeria’s current crop of political leaders, our expert predicts that none of the leaders or political parties would strictly adhere to prior and future agreements with the union. 

The union, along with others, should look ahead and choose the best strategic options and directions. For example, fixing the compensation issue necessitates a thorough examination of the costs of training students as well as internal businesses that produce revenue for universities.

Academics and other personnel would benefit from a higher salary and other remuneration system if this occurred. It is also critical that administrators pay close attention to how they distribute and use available financial resources. American author John Steuben writes in his book, Strike Strategy, that realistic strike strategy is the surest path to strike triumph. Steuben wrote against the backdrop of his interactions with government stakeholders during several industrial strikes across the United States of America, which demonstrated that a single approach cannot guarantee victory.

Tekedia Capital Makes Additional Investment in Lafiya Telehealth

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He is one of the finest tech integrators there. At Capgemini Invent and later IBM where he was a manager, he played at the highest league of tech . I am happy that John Enoh has come into entrepreneurial capitalism FULL time. Yes, we convinced him to resign from IBM, and come and build wealth for everyone! Lol – he is a great mind.

Tekedia Capital is proud to announce that we have made additional investments in Lafiya Telehealth.

Lafiya Telehealth which is helping many states in Nigeria on their tele-healthcare delivery on a $5 million contract (managed from the national budget) promises to improve the well being of citizens. It has built stacks of technologies with AI systems which embassies, oil rigs, and more are using. Through satellites, anywhere you are, you will be attended by a doctor.

John smiles with one of those satellites. Salute Nigerians in America, they #move. Tekedia Capital makes friends with innovators as we continue to fund the NEXT Africa.