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Home Blog Page 5747

The Tekedia Mini-MBA Course On The “Igbo Apprenticeship System”

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This is an update on the new Tekedia Institute’s course – “Stakeholder Capitalism: Umunneoma Economics & Igbo Apprenticeship System”. I also confirm that we have received interests from universities from around the world to syndicate it. Ohaneze Ndi Igbo is providing support on this course. We expect the course to be completed later in the year. But any Tekedia Mini-MBA member, past, present and future, will have access to it. 

The Igbo Apprenticeship System (IAS) component of the course has three core parts:

  • Igbo worldwide view
  • Commerce and development
  • Community and responsibility

After the course, the next phase would be working with those who write secondary school economics textbooks to add “Umunneoma Economics & Igbo Apprenticeship System ”. I have already put a note that WAEC needs to consider adding that in its curriculum, as it promises to become a framework in the modern stakeholder capitalist future. My BBC interview and Harvard Business Review piece were well-received.

We’re making a case that African business frameworks, not just IAS, should be part of our school curriculum.

Please register for the next edition of Tekedia Mini-MBA; classes begin June 7 and early registration benefits end tomorrow. Click here and register.

A New Course: Stakeholder Capitalism: Umunneoma Economics & Igbo Apprenticeship System

God bless the Igbo Nation. God bless Nigeria

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I join the Igbo Nation and Governor Obiano to remember all men and women who died in the Biafra war. I also raise my voice to call Igbo young men to order; there needs to be an alternative to violence and we need to make sure we are not tools to violence, directly and indirectly. No one wins a war if the war is fought in his land! Listen to the voice of wisdom, and find strength from within.

I am extremely saddened by the current events. We can honour our ancestors in peace and live on the promises of Chukwu Abiama, the God of Abraham. Look unto Osebuluwa (the Sustainer of the Universe), your Chineke (the God who creates) and stop the destruction. It is simple logic: provided properties are destroyed, by you or mercenaries, bad things will continue to happen in our communities. This MUST Stop!

Young men, your government is commerce and business. Expect no sympathy from anyone because sympathy in Nigeria is for losers. But I challenge you to leave this madness and do what you do best: find hope in markets.

God bless the Igbo Nation. God bless Nigeria.

 

How Lori Iro Awakes Back-Present-Forward Thinking Traces in Relationship Mistrust Among Nigerians

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In February 2021, a popular pastor who have been preaching sermons that stress why people should avoid relationships embedded with lies from partners for more than 6 years got the attention of many Nigerians after a video of him gone viral on social media. For several days, individuals and businesses used his Lori Iro parlance for varied communication and conversation purposes.

Our analyst notes that Lori Iro as a cognitive metaphor redefined metaphorical marketing strategy in Nigeria during the trending days. A number of businesses employed the parlance for advertising and marketing of their products and services, telling established and prospective clients the need to continue patronizing them and discard whatever competitors are telling them.  Our analyst also found that people who have had negative experiences in their marital and pre-marital relationships used the parlance to chide their partners regarding fake promises.

Our analyst further notes that Lori Iro as an example of cognitive metaphor takes people back to the past events or activities that impacted them negatively. The consequences of the events or activities are expected to shape how they would respond in the future. It has enhanced people’s ability to seek calculus-based trust, identification-based trust and knowledge-based trust, which are necessary for developing and repairing fruitful relationships.

Age-Long Civic and Relationship Mistrust

Our analysis of 151 tweets which contain the parlance, 113 [74.8%] was the main tweets initiated by individuals and businesses while 25.2% were retweets. Examination of the contexts where the parlance is used indicates that it was more associated with lifestyle, especially love or marital relationships than politics and business [see Exhibit 1].

Within the lifestyle, analysis also reveals that people significantly made reference to fake promises in preacher-to-follower relationship and member-to-member relationship. “This is not #Lori-Iro and it’s beyond a mere wish of God When? Since the inception of the REVIVAL HOUR at #MASS6, we’ve seen God grant: Foreign/Local Scholarships without application. Healing of Protracted illnesses. Resident Permits,” one of the tweets said. “I cover you with the blood of Jesus [Musician and entertainment industry reference] “Lori Iro,” another tweet said.

The Twitter Community was also replete with the tweets that chided businesses and their products during the trending days. For instance, a tweet pointing out that “Let’s look at this from an unbiased point of view. I create a product and tell you it’s good for you and will save your life but I am not liable for any damage it might cause Lori Iro.”

Popular musicians who used the parlance to create more engagement with their fans were not spared from lashes dished out to the people perceived to be indulging in constant fake promises.  Davido, a prominent pop culture musician, was predominantly attacked, our analysis reveals. “You Were Never Broke!” – Fans Blast Davido for Saying He Was Once BROKE,” a tweet posted by a news medium said.

In political contexts, the parlance gave Nigerians, most importantly social commentators and political analysts and activists opportunity to express their distrust and mistrust in the government-citizen relationship over the years. Majority of the political narrative driven tweets analysed indicate that Nigerians want better governance, accountability and transparency in all institutions. Their positions are not quite different from the view of Alhaji Tanko Yakasai, a founding member of the Arewa Consultative Forum and elder statesman, who says during a forum that “the mistrust among major sub-regional groups remained a threat to the democratic process despite an end to the Civil War more than 50 years ago.”

Exhibit 1: Dominant Contexts of Lori Iro Application

Source: Nigerian Twitter Community, 2021; Infoprations Analysis, 2021

Analysis clearly indicates that people are ready to repair their relationship as a significant number of the tweets suggest constant tracing to the previous, present and future promises with the possible intent of having tactics for spotting out the likely impacts of fake promises. Our analyst discovered 295 thinking traces, which entail back, present and forward categories from the tweets.

When Lori Iro was used within the political contexts, users were more than 17 times remembering previous promises of politicians, political parties and governments. Less than 1 time remembering previous promises of businesses, sporting women and men, and organisations when it is employed within business and sports respectively. The frequency of remembering the promises is the same for education context while the remembrance is more than 20 times when the parlance is used within lifestyle context.

The consideration of remembering the promises using present thinking trace reveals that people are more than 3 times remembered fake promises in their marital and interpersonal relationship while it was more than 2 times when they used the parlance in politics, sports and education contexts.

Concerning the future dealings, our analysis establishes that people are more likely to be wary of promises from politicians, political office holders and parties because they were more than 10 times ready to remember previous promises made by the stakeholders in political institutions. Despite the significant use of the parlance in the lifestyle context, people are less likely to be wary of fake promises in the future because analysis reveals that they were more than 5 times prepared to remember the previous promises.

Exhibit 2: Thinking Traces [back, present and forward]

Source: Nigerian Twitter Community, 2021; Infoprations Analysis, 2021

Winning Formulas for Deploying Lori Iro

Two strategies predominantly determined how people employed the parlance in the contexts and thinking traces. Valence and arousal were significantly found in texts. For instance, a tweet usually represents distress and depress when the person who tweeted it remembered how previous fake promises impacted his or her negatively. On the other hand, tweets sometimes make a jest of the previous promises by being relaxed and excited that one of the partners failed to realise the fake promises.

For the arousal strategy, tweets indicate that the users of the analysed handles were aroused and sometimes miserable when they remembered previous promises. At the same time, some were pleased that one of the partners was sluggish to know that fake promises are being pushed to him or her.  Our analysis shows that one unit of deploying valence strategy increases the use of arousal strategy by 1.3%, indicating people’s ability to add pie of previous experiences for the demystification of the parlance towards regulation of their consciousness to fake promises [see Exhibit 3 and Exhibit 4 for the strategies’ reflections across the contexts and thinking traces].

Exhibit 3: Dominant Psychological Orientations in the Contexts

Source: Nigerian Twitter Community, 2021; Infoprations Analysis, 2021

Exhibit 4: Dominant Psychological Orientations through Thinking Traces

Source: Nigerian Twitter Community, 2021; Infoprations Analysis, 2021

Congrats Elwin Group for Your Non Oil Export to Europe from Nigeria

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In the midst of the national paralysis, I want to commend a young man who joined Tekedia Mini-MBA with no clarity on how to execute an idea he has nurtured over the years: exporting agro products to Europe from Nigeria. Today, Elwin Mubba just sent me a note that “ElwinGroup has successfully completed her NonOilExport of one of her Agro Products (Turmeric) to the EU. ..Thank you for the Tekedia MBA course”. Congratulations.

I also want to thank our Faculty Victoria Madedor for her course on alternative funding. That course opened avenues and Elwin was able to get necessary support.

In the video as they boxed the products into containers, you will notice one thing: a big “Proudly Nigerian” on the boxes. That proudly Nigerian is absolute because Elwin and his team designed, constructed and commissioned the factory in Awka with all materials sourced locally. As I reported last year when he sent updates to me, he used “export” and  “99.5 purity guaranteed” to describe his playbook. Today, he has delivered. Well done Elwin Group.

Join the next edition of Tekedia edition which begins June 7.

Elwin Agro-Processing Plant is Ready To Serve in Awka Nigeria

The World Converges for Dangote Refinery As 3 Global Players Join NNPC for Stakes

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This is looking great for Dangote Refinery after Nigeria indicated that it would take 20% equity in the refinery: ‘Yes, the Nigerian government through NNPC, the national oil corporation, is planning to acquire 20% of equity in Dangote Refinery: “I can tell you today that we are seeking to have a 20 per cent minority stake in Dangote Refinery as part of our collaboration and you know that there’s a huge quantity of crude for that refinery.”’ Now, other entities around the world are coming.

Four oil firms including Nigeria’s state-oil company have approached Dangote Industries to acquire a stake in Africa’s largest oil refinery, a senior executive told Reuters on Friday.

Devakumar Edwin, group executive director, said the firms from Western and Middle East countries and involved in trading and crude production were looking to secure crude supply agreements, a similar objective to that pursued by the Nigerian National Petroleum Corporation (NNPC).

“They are seeking to have 20% minority stake in Dangote refinery as part of collaboration … so that they can sell their crude,” Edwin told Reuters by telephone.

He said Dangote refinery is not looking for equity and the company wants to be able to secure crude from the market.

Nigeria, Africa’s biggest crude oil exporter, imports virtually all of its fuel due to moribund state refineries, which has prompted the state oil company’s interest in the 650,000 barrel per day (bpd) Dangote refinery.

NNPC’s spokesman, speaking to Reuters in a phone interview, said the corporation had considered the idea of acquiring a stake in the $19.5 billion oil refinery project owned by Africa’s richest man, Aliko Dangote.

Edwin said the refinery is scheduled for mechanical completion this year with commissioning by January 2022.

When you solve major challenges in markets, most times, opportunities come. As many oil refiners close shops, entities like Dangote Refinery will have transient opportunities before the world moves into the post-petroleum era.

The Big Bailout – Nigeria To Buy 20% of Dangote Refinery Via NNPC