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Home Blog Page 5327

MTN Nigeria Accelerates Nigeria’s Economic Redesign with N1.7 Trillion Annual Revenue

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In my Tekedia’s Empire of the Future presentation, I explained the evolution of economic systems. All nations typically begin as invention societies where ideas are in abundance, but with limited translations into products and services. But over time, some become innovation societies, with products and services, and then prosper.

Using the public stock market in the United States, I explained the redesign of that system, connecting the 2,000 years of GDP for the landmass called America today. In 1917,  the largest publicly traded companies in the United States were in construction; US Steel was dominant. Fifty years later, the tech infrastructure firms took off with IBM leading. And now, knowledge firms like Apple and Microsoft are running the show.

In Nigeria, something like this is happening at a smaller scale. Our largest publicly traded companies are in construction (BUA Cement and Dangote Cement), food (BUA Foods and Nestle) and tech infrastructure (MTNN and Airtel Africa). The only difference is that Nigeria has merged that 1917 and 1967 American evolutions into one, trajectory-wise. I expect, by 2035, the largest companies in Nigeria to be knowledge-driven (I cannot write “largest public companies” since most of our current tech startups will not likely list locally).

So, the ascension of MTNN with its market-leading N1.7 trillion annual revenue and Airtel Africa’s pinnacle moment at N5.4 trillion market cap, are part of the road to the new economic system. As these changes happen, new economic order will form in the nation.

MTN Nigeria Communications Plc (MTNN) has reported turnover in the sum of N1.7 trillion for full-year 2021, a milestone that will help firm up its status as Nigeria’s biggest listed company by revenue.

The Nigerian operation of South African-owned MTN Group attained the new height after the number of its active data users surged by 1.7 million to 34.3 million, helping income from data sales increase by 55.3 per cent to N516 billion.

MTNN cited an extension of its coverage areas for 4G services October through December as the catalyst for the higher earnings from data.

Relative to its figure for 2020, revenue for last year grew by 22.9 per cent.

Effectiveness Of Rewards And Sanctions In The Workplace

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Young designer giving some new ideas about project to his partners in conference room. Business people discussing over new business project in office.

When there is no consequence for poor work ethic, and no reward for good work ethic, there would be no orderliness and motivation. A workplace has to have laid down rules that guide the attitudes of staff and penalize them when they go contrary to such rules. For instance, late coming to the workplace has to attract punishment or fine, but when it is tolerated and treated with levity, there would be an increase in late coming because nobody was penalized.

This often leads to disorderliness in the workplace. Imagine a school that does not punish latecomers for coming late to school. There would be an increase in the level of late coming because no student was punished which is meant to serve as a deterrent to others. Also, committed employees should be rewarded where necessary, it serves as a morale booster. Rewards and sanctions as tools in the workplace are usually used to pass a message to the staff that performance is important. Most times, what motivates employees’ performance is if there are rewards that reinforce good performance or negative consequences for poor performance.

The main essence of rewards and sanctions is to regulate employee behavior and performance at the workplace. Most times, the success of an organization is usually traced to how the organization motivates its employees through rewards. Sanctions on the other hand, which are usually carried out in response to unacceptable behavior against work policies, conduct codes, etc, is a strong tool that helps an organization reap positive performance rewards. Sanction shapes employee behavior to act and behave in a particular way to ensure that set organizational goals are achieved.

Once employees fully understand how they are expected to behave in an organization, and what the result of misconduct can cause, then obviously the purpose of the disciplinary sanction will be achieved. In an organization, the main aim of sanctions is corrective rather than punitive. Rewards and sanctions influence employees’ performance in the workplace. When there are no rewards, it often leads to low productivity. Employees begin to feel that they are not being appreciated enough and wouldn’t want to give the work their best effort. Some can even decide to intentionally be absent from work probably because of lack of motivation.

Also once there are no sanctions of wrong behavior of employees, it creates room for chaos and disorderliness. If an organization fails to sanction an erring staff who probably committed sexual misconduct. Once such an act goes without proper punishment, more cases of such are likely to occur because the first case was overlooked and not properly handled. It gives room for so many other wrong behaviors. Any organization that fails to implement the concept of rewards and sanctions is headed for failure because these things are often the prerequisite to the success of an organization.

Naturally, individual employees in exchange for hard work and commitment expect certain extrinsic and intrinsic rewards. According to research, rewarded employees tend to work harder and better when an organization shows proper concern about their well-being and properly rewards them for their effort. When employees notice that their efforts result in rewards, they are usually motivated to work harder which encourages them to reach the organization’s strategic goals.

The success of an organization is usually based on how they keep their employees motivated and in what way they evaluate the performance of employees for rewards and sanctions.

Conclusion

Organizations must ensure that employees are properly rewarded for their efforts because it always has a positive impact on improving their work performance. Once their work performance is increased, it leads to the success of the organization in achieving set goals. Rewards encourage them that their efforts don’t go unnoticed. Sanctions on the other hand must be properly implemented when necessary to avoid disorderliness in the organization. What an organization tolerates will often result in a norm.

Semiconductor Industry Crossed $500 Billion Revenue Threshold in 2021

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The pandemic-orchestrated shift to digital life has spurred acceleration of growth in the tech industry, with many areas crossing thresholds as consumer demand skyrockets. However, it also came with pitfalls such as product component shortages. The semiconductor industry is one of the hardest hit. Chips came to be at the center of efforts to keep the digital life rolling, especially as remote work became widely adopted. But in no time, demand outweighs supply.

As chip shortage rocks the tech industry, stymieing production, forcing companies, from automobile to smartphone, to limit or shut down production, opportunity for rapid growth coincidentally ensued for the semiconductor industry. Players in the industry began to race to meet the burgeoning demand, as the need for cloud engineering components leapfrogged. This means to some chipmakers, opening more factories, and to others, expanding production capacity. However, due to the high demand, the semiconductor industry has been handsomely rewarded, with companies raking in groundbreaking revenues in 2021.

Global semiconductor revenue increased 25.1 per cent in 2021 to total $583.5 billion, crossing the $500 billion threshold for the first time, a Gartner report showed on Monday.

Insider reports on how the semiconductor companies fared in the 2021 growth, and the categories of computing that drove the growth.

Samsung Electronics regained the top spot from Intel for the first time since 2018, with revenue increasing 31.6 per cent in 2021. Its memory revenue grew 34.2 per cent in 2021, in line with the growth rate of the overall memory market.

Intel dropped to the number two position with 0.5 per cent growth in 2021, delivering the lowest growth rate among the top 25 vendors.

“As the global economy bounced back in 2021, shortages appeared throughout the semiconductor supply chain, particularly in the automotive industry. The resulting combination of strong demand as well as logistics and raw material price increases drove semiconductors’ average selling price higher (ASP), contributing to overall revenue growth in 2021,” Andrew Norwood, research vice president at Gartner said in a statement.

Memory was again the best-performing device category, primarily due to increased server deployments by hyperscale cloud providers to satisfy remote working, learning and entertainment needs, as well as a surge in end-market demand for PCs and ultramobile. Revenue increased $42.1 billion over 2020, which amounted to 33.8 per cent of overall semiconductor revenue growth in 2021.

Within memory, DRAM had the best performance with revenue growth of 40.4 per cent in 2021, increasing revenue to $92.5 billion in 2021. Strong demand from servers and PCs created a DRAM undersupply that drove double-digit ASPs through most of the year.

The 5G smartphone market also helped drive semiconductor revenue, with unit production more than doubling to reach 555 million in 2021, compared to 250 million in 2020.

The US sanctions imposed on Huawei resulted in other Chinese smartphone OEMs gaining share and fuelling growth for 5G chipset vendors such as Qualcomm, MediaTek and Skyworks.

Meanwhile HiSilicon, Huawei’s chip subsidiary, saw revenue decline from $8.2 billion in 2020 to around $1 billion in 2021.

Still On The Controversy Trailing Nigerian Legislators’ Pay Package

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There are three major arms of government in any democratic terrain to include the executive, legislature and the judiciary. The legislature, which is our subject matter, is a group of people with the power to make and pass laws.

We aren’t unaware of the crucial and inevitable role of lawmaking in every existing country across the globe, hence Nigeria isn’t an exception.

Nigeria operates a bicameral system of legislature, whereby the country’s legislative responsibilities are shared among two separate assemblies. They are regarded as the Upper (Red) and Lower (Green) Chambers, otherwise called the Senate and the Federal House of Representatives, respectively.

It’s noteworthy that a bill can originate from either chambers but cannot become law until it has been duly passed by both as well as assented to by the President.

However, constitutionally, the Legislature can override the President’s veto, if both assemblies agree to do so with a two-third majority vote of its overall members after thirty days.

In recent times, many in various quarters have opined that the bicameral legislative mode being operated in Nigeria is an epitome of bureaucracy. According to them, the system has bedeviled the country’s financial status. This has overtime ensued tremendous debates among concerned citizens both home and in the Diaspora.

A few years back, the then lawmaker representing Kaduna Central Senatorial District in Nigeria, Senator Shehu Sani reportedly disclosed that each of the legislators in the Red Chamber goes home every month with N13.5 million as ‘running cost’ allowance. He further informed that that was in addition to the N750,000 monthly consolidated salary coupled with other allowances the senators invariably receive.

It’s worthy of note that ever since the shocking revelation was publicly made, the colleagues of the whistle blower have begun to condemn such an abrupt gesture. In their words, they could not expect Sen. Sani to act as the Spokesman of the Senate let alone ‘misinforming’ the people. Having claimed that the notice was false and unfounded, they feared it could make their respective constituents lose their trust in them.

It was apparent that Sen. Sani, who had been a well-known activist, may have spoken against the wish of his then colleagues. Little wonder they reacted in a displeased mood, stating the said legislator had brought his ‘silly’ activism cause to the Senate.

But, the question was; why did they think it wise to refute such information that bears an element of truism? Does it imply they were not only seeing Sen. Sani as a ‘silly activist’ but an insane lawmaker?

This exactly reminded me of the case of Hon. Abdulmumin Jibrin who sometime ago equally blew a whistle in the legislature, the Green Chamber though. At the time, Hon. Jibrin disclosed that the country’s 2017 budget was ‘padded’ by his fellow legislators.

In consequence to the unexpected avowal, his colleagues ganged up against him and subsequently succeeded in suspending the poor lawmaker who was seemingly standing alone.

In the same vein, Sen. Sani’s colleagues were ostensibly making a frantic move on how to silence him. They were perhaps of the view that relegating the whistleblower to the background would enable them to discredit his confession. Whatever move they intended to make, they were meant to acknowledge that the actual figure, which had long been shrouded in secrecy, was eventually divulged.

A discussion has hitherto been on that some persons venture into politics for service whilst a few others do so for self. I cannot concur less with the belief that several Nigerians participate in the aforementioned profession for the sake of the latter.

This is the reason, for instance, a lawmaker having collected his/her constituency allowance, rather than using the fund for what it is meant for, would end up siphoning it into his personal purse.

Nigerian politicians are really taking advantage of the civil servants. In other words, the former is obviously cheating the latter. How could one reconcile the fact that a lawmaker that sits at intervals and also goes on a recess is entitled to a bogus monthly allowance of about N13.5m or thereabouts, while a civil servant that works on a daily basis receives a minimum wage of N30,000 that isn’t even forthcoming? No wonder a Nigerian politician, on the average, is apparently ready to kill just to win an election.

Each day, we are being reminded that Nigeria is passing through recession, yet the pay package of a certain group of workers is enough to revive the country’s moribund refineries as well as resuscitate her dying institutions ranging from education to health and what have you.

The acknowledgement of such occurrence does not in any way bring hope for the weary citizenry. Hence, the time has arrived for the teeming Nigerians to take their future into our hands.

The public servants, particularly the political leaders, must take into cognizance that they were only mandated to plough the Nigerian land, not to plunder it. 

Slots Paylines: What is the Best Number?

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Classy Wooden Shiny Roulette Details in a Casino

When it comes to 21st century slot machines, there sure are a whole lot of variables. Slot machines both physical and digital, which is found on slot sites like Wizard Slots have a variety of parameters such as the special offers they provide, the maximum jackpot, and the number of reels and paylines.

What are paylines, and is there an ideal number of them that a slot machine should have? Well that all depends – read on to find out more!

What is a payline?

Paylines, otherwise known as ‘a betting’ or ‘winning’ line is a horizontal line of symbols that match together to result in a win. Back in the day, slot machines only had a single pay line – you would have to match three cherry symbols in a row, for example. If you matched these symbols, you’d hear the ‘ding ding’ signalling a win along with the glorious clatter of coins! However, over the years the slot machine community has seen a whole bunch of changes to our favourite machines, and this includes paylines. These days you’re unlikely to find a single-payline slot machine – the minimum tends to be three, and you’re likely to find one including:

          5 Paylines

          9 Paylines

          20 Paylines

If you can believe it, there are even slot machines that feature 243 and even 1024 paylines, but these are pretty uncommon. Plus, it’s all relative – just because you have 1024 paylines does not mean you are 1024 times more likely to win, because the rest of the slot machines features will scale up with the number of paylines.

So how many paylines should I aim for?

Ultimately, there’s no right or wrong answer to this question – it all depends on the style of your session. It’s very important to keep an eye on money management and your slots strategies, and for this reason many people choose to keep their paylines to a maximum of six. There are several reasons for this:

          The slot machine will be less volatile

          You will be more likely to win a small amount of cash

          The risk will generally be lower

However, this isn’t for everyone – many hardcore slots fans are hugely into what is called ‘progressive jackpots’, meaning that every time somebody loses a bet their stake gets added to the overall pool of the jackpot. For these people, a common tactic is to instead find a slot machine with the highest number of reels. In a 1024 payline machine, not all paylines have to be activated, but the more that are activated the higher the stake, risk and potential jackpot.

Payline Prizes

Ultimately, it all comes down to risk. If you want an easy slots experience with the potential to earn a few quid, keep the paylines low. If you’re willing to risk some cash for the chance of winning big – large paylines are what you’re going to want! The best way to decide is to have a few spins on a low and a high payline slot machine to compare – this way you can figure out what you are more comfortable with!