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Home Blog Page 5767

American Tech Roars – Apple Makes Nigeria Budget in 3 Months As Profit!

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Facebook Q1 2021 revenue increased nearly 50% to $26.2 billion, while 5G phone demand and services doubled Apple’s profit to $26.3 billion, with record $89.6 billion revenue. As that happens, Amazon came with a bigger pot. Yes, the e-commerce giant posted $108.52 billion in revenue, or a 44% increase from last year in its first quarter earnings. Google will save more than $1 billion via WFH. From south to north, east to west, there is a great grand party for American tech.

Just imagine: Apple makes what Nigeria will spend as an annual budget (after all the borrowing and considering that execution is never 100%) in 3 months. Do not feel bad for Nigeria but be concerned that we have defaulted to this state of  underperformance.

Yet, there is tomorrow. A moment of great leadership remains a promise.

If you read what Nigeria did  before,  you will see greatness. Yes, if we have continued with the excellence of the early 1960s, we would be hosting our own Apple today. John Nwodo, the leader of Ohaneze, the Igbo pan-cultural group, was an SUG President of University of Ibadan in the heart of Yoruba nation.  A former mayor of Enugu was a man from northern Nigeria who defeated all his Igbo opponents in the heart of Igbo land.

Sometime back, I heard the story of Mallam Umaru Altine, a Hausa man who became the first Mayor of Enugu Municipal Council in 1956.

The story of Malam Umaru itself tells stories — the story of the country we had, the story peace, the story courage, name it.

Fascinated by Mallam Umaru’s story, my good friend, Mohammed Shehu, sent me some details he got about him earlier today.

Mallam Umaru, who hailed from the old Sokoto province, was elected Mayor of Enugu two times! He was at one time Secretary-General of the Zikist Movement and was identified with the NCNC, a Twitter handle, @historicalnigeria, posted.

According to the handle, during election, NCNC decided to nominate Mallam Umaru at the Coal Camp, where he lived. He accepted the nomination, contested and won the election.

People pursued excellence (no tribal coating) until OIL CAME, and then, we folded! Can we rise again as a people?

A Simple Experiment in The Guardian

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It is working – the HR Directors are reaching out to us. Yes, we wanted to make Tekedia Mini-MBA to transcend the online world to the meatspace where corporate customers can come at scale. We looked at the options, and decided to buy adverts in PRINT Guardian newspaper for 12 weeks. They run on Fridays and Mondays with one mission: see Tekedia Mini-MBA logo, and get used to it for your workers.

Innovate, Grow & Drive transformation. Capture emerging opportunities, and digitally evolve your business or job, turning disruption into a competitive advantage. Master the concepts of building category-king companies, and advance.

Tekedia Mini-MBA Edition 5 (June 7 – Sept 1, 2021) Opens Registration: Self-paced, Online, 12 weeks, $140 or ?50,000.  

Simply, if the HR Directors see the print logo, the propensity for them to take action for our digital-native school would improve. Since we started running the adverts, many are writing. Yes, atoms work.

Good People, do not neglect the offline space even as you sojourn in the digital space. More people will create wealth offline in Africa than online this year. Yes, you need to be relevant today even as you plot to pivot for tomorrow.

Have an offline strategy even as you run your online one for Africa; rich people in that continent are yet to come online!

The Benefits of Forgiveness

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Many of us believe that forgiveness is a religious obligation. As Christians, we are made to believe that if you fail to forgive someone for the pain he or she caused you, God will fail to forgive us for causing Him pains too. We also learnt that people who do not forgive others will not inherit the Kingdom of God. We also learnt that if you do not forgive, blessings will never come your way. Those that are more spiritual than many of us can also tell you how forgiveness cleanses and frees the soul so that the forgiver benefits more from the act than the person that was forgiven. All these points out the importance of forgiveness. And they are true; at least to the best of my knowledge.

But, then, are the points listed above the only benefits of forgiveness? Is forgiveness all about spirituality? Do we only have to forgive because we want to make Heaven or reap abundant blessings here on Earth? What other benefits does forgiveness have?

Fortunately, forgiveness is a virtue with benefits that span across all aspects of our lives. It doesn’t start and end with religion and spirituality. Our health, relationships, and growth depend on that simple act.

Forgiveness in Health
Forgiveness, as we all know, is the replacement of negative emotions towards wrongdoings with positive ones. It is letting go of the anger you have for an offense and grudges you bear the offender. This means that when you fail to forgive, you plunge yourself, and not the person that is not forgiven, into toxicity. You allow yourself to be eaten up by anger and pain, and if you leave them to stay longer, you are the one that will be miserable. Of course, when anger becomes too intense, it leads to crime, high blood pressure, anxiety, loss of control of your actions, loss of creativity, depression, wrong perception of objects and sounds, and so on. Imagine the impact these will have on your health and wellbeing just because you decided to hold onto your anger. By the end of the day, you will gain nothing but lose it all.

Forgiveness in Social Life
One thing you will agree with me about is that you avoid people you hold grudges for. You distance yourself from anything that has to do with them. You may even begin to say negative things about an offender without realizing the damages you are causing your image. Because of your constant complaints about wrongs done to you, other people will begin to avoid you too. Even if the offender was wrong, people expect you to forgive and move on. But because you failed to do so, you will be left alone to wallow in your bile. No one wants to relate with a grouch.

Forgiveness in Business and Career Growth
One of the reasons we are always advised to forgive others is to keep doors open for transactions. Like we know, the person you meet today can be the person that will win you that contract tomorrow. Many people have lost business opportunities because they didn’t know how to subdue their negative emotions and let go. Some bosses have also lost good employees because they want to “deal” with them for offenses they could have easily have overlooked. If we can remember that people will continue to offend us, we will not hesitate to ignore some offenses.

But there is something about forgiveness that needs to be touched here. A lot of misinterpretations have been given to that term. Some definitions see forgiveness as a replacement of negative actions with positive ones. Well, allow me to say that forgiveness is not measured by actions. You don’t have to exhibit positive actions to show that you have forgiven a person. For instance, no one is asking you to start relating with a person that hurts you after you forgave him or her. No one is also saying you must present gifts to people to show that they have been forgiven. Of course, you should exchange pleasantries with the person, speak well about him or her, if you have to, attend functions together, but remember to keep a measurable distance to avoid being hurt again. After all, you need to protect your sanity.

Forgiveness is a personal thing. It is a transformation of your mind. You are the one to reap its benefits. At the same time, you are the one to suffer the consequences of unforgiveness, if you hold onto your anger.

The BIG NNPC Revelation And Call of Duty for President Buhari

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NNPC boss and President of Nigeria

This is hard news and a big revelation: “The Nigerian National Petroleum Corporation (NNPC) has said that it will remit nothing into the federation account in the month of May due to costs incurred from subsidy payments on petrol. The NNPC made this known in a letter written to the Accountant-General of the Federation, where it explained that it recorded a value shortfall of N111bn in February 2021. The shortfall, the NNPC said, will affect its contributions to federal allocations to states for April and May.”

The letter, seen by PREMIUM TIMES, was dated April 26 and signed by NNPC Chief Financial Officer, Umar Isa. Those copied in the letter include the Minister of Finance, Budget, and National Planning; the Director General, Nigeria Governors Forum; the Director Home Finance; and the Chairman, Commissioners of Finance Forum.

“The Accountant General of the Federation is kindly invited to note that the average landing cost of Premium Motor Spirit (PMS) for the month of March 2021 was N184 per litre as against the subsisting ex-coastal price of N128 per litre, which has remained constant notwithstanding the changes in the macroeconomics variables affecting petroleum products pricing,” the NNPC said.

“As the discussions between Government and the Labour are yet to be concluded, NNPC recorded a value short fall of N111,966,456,903.74 in February 2021 as a result of the difference highlighted above. Accordingly, a projection of remittance to the Federation for the next three months is presented in the attached schedule.

“Accordingly, the AGF is invited to note that the sum of N111,966,456,903.74 will be deducted from April 2021 Oil and Gas Proceeds due to the Federation in May 2021, which will translate to zero remittance to the Federation Account from NNPC in the month of May 2021.”

What can Nigeria do now to fill the void or do we expect another level of strikes as state workers go unpaid for months? These are real economic fractures because such calls from NNPC make it evident that Nigeria is not properly designed.

I mean, how can you just sleep month-long, only to wake up and travel to Abuja, drop your bank account number, and magically someone pays you, because you are a governor of a state. Within three days, you share that money. And then begin to sleep again, waiting for another end of the month. Twenty six states in Nigeria did not record FDI in 2020; Adamawa was among the outperformers for attracting just $20,000.

Twenty-six Nigerian states recorded zero foreign investment in the whole of 2020, figures released by the National Bureau of Statistics show.

The report on capital importation into the country, compiled by the Central Bank of Nigeria, was released on Friday by the NBS.

Will President Buhari use this letter from NNPC to call our parliament to begin a conversation on fiscal federalism towards deepening our productivity by exploiting our comparative advantages? This letter from NNPC will become more common as very soon, the world will move on from oil. So, now is the moment for Mr. President to begin to create Nigeria’s future if he wants to predict that future.

Learn Procurement Management At Tekedia Mini-MBA

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Just to update that our esteemed faculty, a zen-master of corporate procurement management, is finalizing his course on Procurement Management. This course is extremely important because How, Where, What & When you buy could become a competitive advantage for any business. Tekedia Institute Harold Nwariaku FCIPS is a leader in this space.

Mr. Nwariaku was formerly the Procurement Portfolio Manager, Guinness Nigeria Plc; Senior Manager Procurement, MTN Nigeria; Senior Purchases Manager W/Africa, Procter & Gamble; and today is the Lead Consultant at Harold & Co Procurement/Supply Chain Consulting.

Harold is a graduate of University of Nigeria Nsukka (BSc Accountancy) and Cranfield University (MSc Logistics & Supply Chain Management).

In markets, it is all about demand and supply, managed through allocation of factors of production. Procurement is a very critical part of that system. This course will help innovators, project champions, CEOs, members, etc run an efficient procurement process within their supply chain systems.

Experience a world-class education. Learn from the best, learn at Tekedia Institute Mini-MBA.