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Home Blog Page 5849

4 Critical Questions From a University Don on Nigerian Media Coverage of Bad News Versus Good News

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In the last few days, our analyst has been reporting a number of insights relating to the Nigerian media industry. The focus has been on how to have improved processes and better products as information pollution rages across the digital and physical spaces. 

While engaging his followers on social media platforms, our analyst notes that “In seconds. In minutes. In hours. In days. In months. In years. Nigerians wake up and confronted with bad news than good news from the media. On digital and offline spaces, bad news reports are debated more than good news. No matter what, there are a lot of opportunities in the bad news, which individuals and businesses can explore.”

The post was aimed at informing people that business opportunities abound in the bad news being reported by the media. This intent is not quite different from his position in an article published three years ago titled “How to turn Nigeria’s biggest problems to biggest businesses.”

From one of his social media accounts, a University Don queried his views on bad news versus good news publications. While commenting on the post, the University Don asked four critical questions.  “So, journalists deliberately create bad news or bad news happen? When bad things happen, they should not be reported? How can you successfully separate news reporting in Nigeria from existential challenges? How do you want the media to report happenings in the country? They should lie?”

Our analyst has promised to get back to the lecturer in due course with data and analyses that support his [our analyst] position that Nigerian journalists and media owners, especially the mainstream media entrepreneurs, should focus more on development news publication more than conflict and crisis driven news. According to our analyst, constant coverage of conflicts, crises and other bad happenings without regard for ethical journalism, social responsibility and developmental principles have created disunity and unnecessary self-independence agitation by various ethnic groups. 

A Crisis Scene

“Of course, bad events need to be reported since it sells more than good events. And that many people want to read negativities more than positivities. But, there are ways of constructing headlines and framing content towards sustainable peace and unity not enduring conflicts and crises,” our analyst points out. 

Before data driven answers to the lecturer’s question, our analyst’s check indicates that a few hours after his post, one of the national newspapers reported “…policymakers and media managers accused the Nigerian media of of allowing its obsession for bad news and screaming headlines to obstruct the principal mandate of setting the right agenda toward building a united and virile nation.”

Journalists, Media Producers Are At War With Two Sets of People Over Information Pollution

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Nigerian Russia based University lecturer, Mustapha Muhammed Jamiu, has noted that journalists are at war with two sets of people in their quest of eliminating information pollution. Assistant Professor of Informational Technology at the RUND University of Russia disclosed this while making his presentation during the launching of the Western Nigeria Publica, a newly established online newspaper in Nigeria.

According to him, professional journalists and media producers are at war with visible and invisible people. “Visible people are the dubious individuals and politicians using the tool for their gain (monitory, popularity among others) simply because they are not happy with the narrative of a certain news story that does not conform with them and will simply declare it as ‘fake’. 

Mustapha Muhammed Jamiu

“Invisible people represent innocent individuals with no knowledge of why what is written and for what. These sets of people are the ones who read and share the headlines without following the link to read the whole story whether it conforms with each other, they will start forming an opinion on it; and the one who reads a rewritten headline or story from malicious sharers that uses a faulty headline for personal gain.”

Speaking further on the theme of the launching “Redefining News Production in the Age of Information Pollution, the Don notes that “For these sets of people is the reason professional journalists and media producers need to tailor their contents accordingly for effective and ethical delivery. In realizing this, I would recommend paying keen attention to the following;  the usage of headlines, online news editors, and gatekeeping.

The need to realise the power of headlines as a strong tool of media production today,  and that they can be susceptible to misinformation through clickbait features they may carry. Redefining media production simply means being aware of the obstacles of professional journalism in this era, and the readiness to battle them for delivering ethical journalism by all means.”

He stressed further that the mainstream news media [conventional media] need to train their online news editors on better ways of constructing headlines towards effective elimination of ambiguity, which the categories of people earlier explained explore for their personal interest. He added that gatekeeping is a key aspect of journalism in ensuring and maintaining ethics in production. According to him, this is fading due to the advancement in technologies and media proliferation that placed the media tool in the hands of everyone. Despite this, professionals should never compromise for anything.

List of Approved International Money Transfer Operators (IMTOs) in Nigeria

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Nigeria Naira US Dollar

Aftab Currency Exchange Limited

Azimo Limited

Belyfted Limited;

Caperemit Uk Limited

Cashpot Limited

Centrexcard Limited;

Chime Inc.

Colony Capital Limited

Cp Express Limited

Dt&T Corporation Limited

Etranzact Limited

Fiem Group Llc Dba Ping Express

First Apple Inc.

Flutterwave Technology Solutions Limited

Fortified Fronts Limited In Partnership With E-2-e Pay Limited

Funds & Electronic Transfer Solution

Funtech Global Communications Limited.

Global Currency Travel & Tours Limited

Homesend S.C.R.L

Idt Payment Services Inc.

Immueuble Wari Limited; Interswitch Limited

Makeba Inc.

Moneygram

Africa Re-insurance Building 1679

Karimu Kotun Victoria

Naira Gram Llc Operating In Nigeria As Ngn Gram Limited

Nigerian Postal Service (Nipost)

Nouveau Mobile Limited

Pagatech Limited

Paycom Nigeria Limited

Paypal Inc.

Remit Hub Café Limited

Remitly Inc.

Ria Financial

Shift Financial Services Limited

Simplify International Synergy Limited

Small World Financial Services Group Limited

Tcf Limited

Trans-fast Remittance Llc

Transferto Mobile Financial Services Limited (Thunes)

Venture Garden Nigeria

Volopa Financial Services (Scotland) Limited

Vtnetwork Limited

Weblink International Limited

Western Union

Worldremit Limited

Xpress Money Services Limited

Xpress Payment Solutions Limited

Marginal Cost And Unit Economics [Video]

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In a perfect internet market, the marginal cost of a digital product is zero. But no market is perfect, so, what we have in reality is that the marginal cost tends towards near-zero. What that means is that the transaction and distribution costs stay low even as output increases. Whenever you attain that positioning, your unit economics improves since you are essentially having accelerating returns which keep compounding. 

Unit economics is defined as the “direct revenues and costs associated with a particular business model, and are specifically expressed on a per unit basis”. Some even go so far as say that unit economics are the fundamental or basic financial building blocks of a business.

In theory, you can just keep growing, unlimited by the typical industrial age marginal cost which begins to go low, but quickly ramps up with output (recall your average fixed cost shape in secondary school economics) thereby restricting growth. 

If you do not understand how marginal cost affects your business, you cannot drive growth in that business. Make time and study marginal costs. In Tekedia Mini-MBA, we have a course on marginal cost. It is the most important cost you must understand if you want to develop a growth playbook.

 

The Mastery of Marginal Cost is the Mastery of Digital Business Growth

 

 

 

https://youtu.be/P75hzh3e190

Where Is the Person Who Has Helped You?

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Many years back as a fresh graduate of the University of Nigeria Nsukka, UNN, I was doing my clearance in order to be shortlisted for the next batch of the National Youth Service Corps. One of the conditions to be cleared by the school is the presentation of receipts of all financial obligations from first to final year. I could not find my reparation fee receipt. This was the money we paid when some students rioted and destroyed the school’s assets in my second year. I only needed to get a duplicate of my payment from the bank. For two years (from 2nd to 4th year) I was frustrated. They always asked me to return next week or next month. Just that I was in financial straits after losing my Dad otherwise I would have just paid a second time. 

On this fateful day my helper located me. After a transaction, the teller asked me if there was something else she could do for me and I told her about my trouble. She left her cubicle, held my hand and took me to the man that has frustrated me all this while. She stooped and whispered in his ears: “Please help my friend.” With a parting caress on his back she left me with him. And in less than five minutes I got what I couldn’t get for two years. 

Imagine your life without helpers. If no one had helped you secure that job or contract. If no one had helped you with your school fees, feeding, house rent, transportation, avenge your enemies, put in a good word for you, and no one had helped you when you were frustrated and depressed. Where would you be today? 

Life answers to careful application of principles. This makes the world a complex but interrelated web of principles. One of such principles is giving and receiving. When we are bestowed with favor and we do likewise, we keep the cycle unbroken. And what perpetuates and strengthens this flow is the expression of gratitude. But ingrates will have theirs run dry. 

‘So Jesus answered and said, “Were there not ten cleansed? But where are the nine? Were there not any found who returned to give glory to God except for this foreigner?” ‘(Luke 17:17-19). Just like Jesus, everyone who shows favor expects some form of appreciation from the beneficiary. It is a natural response that will make the giver be pleased and probably do more.  “Arise go your way. Your faith has made you whole.” This is the reward to the one that showed appreciation. He will never be leprous again because it is possible for one to lose his miracle due to ingratitude and exposure to what caused it in the first place. The nine exhibited entitlement mentality.

Let us consider the case of Moses and Jethro’s daughters at a well in Exodus 2:15-21. After murdering an Egyptian in defense of his fellow Hebrew, Moses fled for his life to the land of Median as a fugitive. Now thirsty, hungry and homeless, he needed help. And when the situation presented itself, he relegated his needs to help the women fight off the bully shepherds and watered their flock. These are nomadic aggressors in the like of Fulani herdsmen in present day Nigeria. Moses didn’t exploit the weakness of the women to satisfy his needs before helping as some would do today. 

“Why is it that you have left the man? Call him that he may eat bread.” This was the reaction of their father after his daughters shared their encounter with Moses. His daughters never remembered to show appreciation. You would think Zipporah being the eldest would have noticed that he was a stranger in need of help. If not for her father’s foresight she probably wouldn’t have married Moses. Her name would not have been recorded in history for posterity. 

And Moses by that singular selfless act got not only his urgent need of food and shelter, but also, a wife, a family, a shepherd’s job for forty years, and most importantly, his mission of leading the Israelites out of Egypt. Think, what if he had not helped the women? They surely wouldn’t have mentioned him to their father. There wouldn’t have been an invite to dine. He might not have found a good wife in Zipporah. He probably wouldn’t have become a shepherd which made him see the burning bush the way he did. 

And think if Jethro hadn’t shown gratitude to Moses for his kindness to his daughters, he might not have had two additional men (Moses and Gershom, his son) in his household to defend them. He would not have had the opportunity to bequeath the world with his concept of Delegated Authority. He would not have been remembered by history if he had not remembered to show gratitude. 

I will conclude by asking you two questions and also give you a task to do. Where are the people that have helped you in your life’s journey thus far? Where have you left them? Make a list today of everyone you can remember that has helped you and show gratitude in every way possible.