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Home Blog Page 5535

Recording of “Remote Work Administration & Remote Team Management” Now Available

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Good People, this is an update on the Remote Work Administration & Remote Team Management training which took place on Tuesday as part of Tekedia Mini-MBA. A Florida-based company called Krozu delivered it under Tekedia Institute’s special labs. The recording is now in the Board.

We are confident that in a geographically unbounded and unconstrained digital world, opportunities will abound for leaders who can nurture, manage, and lead teams and projects, even remotely. We want our learners to be exposed to this future.

Meanwhile, registration for the next edition of Tekedia Mini-MBA has opened here.

 

Let’s Ring The Bell By Investing in Great Startups

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Join us at Tekedia Capital’s Open Lecture as we examine the physics of discovering great startups. As a teacher, I have got a bell ready so that when the moment comes for those markets in Lagos, London or New York, we will be ready. Tekedia Capital runs an investment syndicate and we pool resources from people, companies, investing entities, etc, and take positions in tech-anchored companies operating in Africa and around the world.

Join us on Saturday and get an insight into how we work. Last quarter, we invested $3.5 million. Details of lecture….

  • Topic: Investing in Africa’s Next Unicorns – A Tekedia Capital Playbook
  • Presenter: Prof Ndubuisi Ekekwe, Chairman, Tekedia Capital USA
  • Date: Oct 16, 2021
  • Time: 6pm – 6.45pm WAT

Venue: click here for Zoom link 

The Power of Process to Success

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Companies do not hire you just because you made good grades in school. You are hired because you’ve demonstrated attributes which resulted in a good outcome (good grades). To get good grades, you managed your time, showed discipline to accomplish a purpose, etc.

The assumption is this: if you can apply those attributes in a job, the outcome would be good. You must understand that the processes to get a good grade are more important than the grade. Most attributes to success are universal while grades are not. Staying on course with those attributes makes the future predictable even when the grades become irrelevant!

 This is why I tell people that finished with poor grades: your problem is not the poor grades but the processes that produced the grades. If your processes (activity prioritization, dedication, focus, time management, etc) are GREAT and you ended with poor grades, you will be fine. The world is not a competition of grades but of processes!

As Nigerians Await e-Voting System

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E-voting is a kind of voting that involves using an electronic system to cast and count votes usually with the aid of an Electronic Voting Machine (EVM).

It is of two main types: the one physically supervised by representatives of the electoral umpire and the remote e-voting whereby votes are cast via the internet from any location. The former requires the EVM whilst the latter could be done with one’s personal computer.

The merits of e-voting cannot be overemphasized. It enables votes to be cast with ease. It increases the speed of voting. It is cost effective; in other words, it tremendously reduces the cost of conducting an election by engaging only a few electoral officials rather than in the case of a manual voting system that requires much manpower.

It can provide an improved accessibility for the electorate that are physically challenged, thereby enabling them to participate actively and massively at the polls. It’s transparent, because it can easily be observed by anyone present at the polling unit. It helps to reduce human error to a great extent. It makes the election results to be announced faster than expected, thus building trust.

Among all, e-voting is auditable with the assistance of Voter-Verified Paper Audit Trail (VVPAT). The EVM prints a paper receipt each time a vote is cast electronically. This makes it easy to perform recounts and audits, because one can compare the electronic count with the paper count. Owing to the overall gains and effects of electronic voting, it increases turnout and engagement among the electorate.

On Saturday, 12th May 2018, Kaduna State under the watch of Governor Nasir El-rufai made history by conducting its Local Government (LG) polls with the aid of e-voting system as planned by the Kaduna State Independent Electoral Commission (KADSIECOM).

It was, however, reported that some of the EVMs malfunctioned in some polling units while some were taken away by hoodlums to unknown destinations. The machine error was blamed on various factors such as power supply, technical hitches and ignorance on the part of the operators.

Gov. El-rufai testified that human error was recorded during the exercise, though claimed the EVMs performed perfectly as anticipated. In his statewide address while being interviewed by newsmen after the polls, he said “Only human error was recorded. All the electronic voting machines functioned perfectly. We shall investigate the cause of the human error.”

The outcome of the LG polls in their totality signified that Nigeria still has a long way to go as regards electronic voting. It was gathered that some of the EVMs malfunctioned even as the governor claimed that they all performed excellently. The diverse reactions that trailed the functionality of the EVMs used at the said polls were good reasons to note that the Nigerian system wasn’t yet ripe for the practice.

We have equally learnt that some of the EVMs were carted away by thugs in the process. This particular loophole implied that adequate security wasn’t on ground to safeguard the polling units and the sensitive materials, or perhaps the security personnel compromised their obligations.

The above revelation raises much room for great worry in respect of the quest for deployment of the e-voting pattern in Nigeria’s electoral system, hence the need to critically look into it.

It was further alleged that the returning officers in charge of the various LGAs vanished into thin air after concluding the elections. It’s imperative to acknowledge that the so-called returning officers have a thousand and one questions to answer if the required investigations must be carried out by the concerned authority as well as towards averting such embarrassment in the future.

As I appreciate Gov. El-rufai for giving us the prototype of how the e-voting would look like if the Independent National Electoral Commission (INEC) eventually adopts it for the Nigeria’s political sphere, it’s my pleasure to notify the commission that if well prepared, the country can really get it right.

Since we have observed lapses bordering on ignorance in the use of tech devices, thuggery and insecurity, there’s absolutely no need to suggest to the INEC on what needs to be done towards ensuring that the e-voting system is aptly implemented for future elections.

Taking into cognizance the innumerable benefits attached to the e-voting system, Nigeria as a country ought to headlong consider making use of its methodology during the 2023 general elections towards ushering in a better and greater political space in the country.

It’s worth noting that the Bill for Electronic Voting cum Result Transmission has eventually seen the light of the day at the National Assembly (NASS) having ‘torn’ the federal lawmakers apart. The truth is that, anyone who truly yearns for fairness and credibility during elections mustn’t hesitate in supporting this lofty cause.

As Nigerians anxiously await the e-voting pattern, INEC and other relevant stakeholders must hold the bull by the horn with a view to ensuring the needful is done without further procrastination.

Noting that the world is already engulfed in technologies and every facet of the global community gradually becoming digitally-inclined, the electoral umpire needn’t shy away from acknowledging it’s time the Nigerian State inculcated e-voting into its electoral mechanism.

Hence, the INEC needs to consequently set up a special unit to be manned by qualified and uncompromising tech experts that would see to the apt implementation cum sustenance of the awaited measure.

There is equally need for holistic sensitization among the concerned electorate on how they could participate in the e-voting pattern coupled with what is expected of them as long as the exercise lasts during each electioneering era.

Above all, it’s noteworthy that the proposed unit can’t perform as required if the commission fails to continually extend the hand of fellowship to the cognoscenti. 

Cost of Nigeria’s Trade is Too High to Attract Investors – Okonjo-Iweala

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Concerned Nigerians have continued to voice out against fiscal policies and economic activities of the government, which is believed to be self-sabotaging. From high import and export levies to infrastructural deficiencies, Nigeria has been bedeviled with unprogressive policies and poor infrastructure that have stymied its economic growth for years.

On Tuesday, the Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, lamented that the cost of Nigeria’s trade is too high to attract foreign investors. This is besides calls by several other Nigerian experts demanding that the government take steps to address many of the pitfalls limiting Nigeria’s economic progress.

The former Minister of Finance and Coordinating Minister of Economy under the administration of former President Goodluck Jonathan stated this via a video link on day two of the Mid-term Ministerial Performance Review at the State House, Abuja.

Okonjo-Iweala, who was a strong advocate of ‘saving for the rainy days’ during her time as minister, also said the government needs to improve the nation’s security in order to attract foreign and domestic investments.

Apart from that, there is a huge vacuum in Nigeria’s infrastructural operations that the WTO DG said must be curtailed for the country to make progress. She said the country must cut down not only on trade cost but also infrastructure cost, linkage cost, regulatory cost, customs cost, and all costs associated with moving goods from the factory to the final consumer to complement investment facilitation.

To drive her point home, she said that Nigeria’s trade cost was equivalent to a 306 percent tariff, one and half times higher than the cost in high income countries. This, including congestion, capacity constraints and high costs at Nigerian ports, she said do not encourage investment as they make it difficult to build supply chain operations in the country.

“Improving security and lowering transaction cost for foreign investment, even for domestic investment, would be necessary. And Nigeria is part of a group of countries negotiating an agreement on investment facilitation at the WTO.

“Once this agreement is negotiated, ratified and is being implemented, it could be instrumental in attracting additional trade-oriented investment. To complement investment facilitation, Nigeria has to cut down on trade cost, infrastructure cost, linkage cost, regulatory cost, customs cost, basically, all costs associated with moving goods from tie factory or farm gate to the final consumer.

“Nigeria’s trade costs are too high. According to the World Bank-ESCAP trade costs for 2019, trade costs for African countries are on average equivalent of a 304% tariff and for Nigeria, it’s even slightly higher at 306%.

“These numbers are one and half times higher than trade cost in high income countries. Such high costs are not conducive to forming regional value chain. Congestion, capacity constraints and high costs in our ports make life difficult for anyone seeking to build supply chain operations in Nigeria and hence, expand trade from there,” she said.

Nigeria’s export has dipped from an average of $109 billion between 2010 and 2014 to just $35 billion in 2020, leaving a $74 billion gap. The dip is a result of high levies and high cost of operations in the country.

A recent report on Nigeria’s export growth revealed that Nigerian-bound cargo airlines are choosing to return back empty because it costs $35,000 in levies to move goods from Nigeria to other countries. Whereas in other Western African countries such as Ghana, cargo airlines only pay $4,000 in levies for outbound goods.