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Tekedia Mini-MBA (Aug 10 – Dec 3, 2020)

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Please REGISTER for the next edition as we have closed this edition.

Invent, innovate and drive organizational transformation, performance, and growth. Capture emerging opportunities in changing markets while optimizing innovation and profitability. Digitally evolve your business or functional area, turning digital disruption into a competitive capability and advantage. Master the concepts of building category-king companies, and thrive.

Registration for Tekedia Mini-MBA edition 3 begins. This program is a 4-month weekly innovation management program, beginning Aug 10 to Dec 3, 2020. It will comprise videos, flash cases, written materials and webinars delivered online, and optimized for business execution and growth, with digital operational overlay. When we finish, we will issue a certificate from the Tekedia Institute USA.

Register and join us. You will emerge transformed with tools and capabilities that engineer confidence, performance and growth.  Accelerate your leadership ascent with us and have access to speak with me on your career and professional development! Tekedia is also unveiling certificate courses.

CODE PROGRAM
MINI Tekedia Mini-MBA costs US$140 (N50,000 naira) per person.
MINR Add extra (optional) $30 or N10,000 if you want us to review and provide feedback on your labs.
Add extra (optional) $60 or N20,000 for each certificate specialty course. You must have attended, begun or about attending Tekedia Mini-MBA to qualify. The following Certificate tracks are available:
CLSM Certificate in Logistics and Supply Chain Management
CSBM Certificate in Startup and Small Business Management
CETS Certificate in Exponential Technologies and Singularity
CPCD Certificate in Personal Career Development
CPFM Certificate in Personal Finance & Wealth Management
CBIS Certificate in Business Innovation, Growth & Sustainability

The Certificate program is completely capstone-based. Tekedia capstone is a research paper or a case study exploring a topic, market, sector or a company. Tekedia Institute supervises the work.

How To Register: 

  1. PayPal: follow this link and pay $140 US dollars (or more if adding the optional components). It supports most global currencies.
  2. Bank transfer (Nigerian naira): Pay N50,000 (or more if adding the optional components) into any of:
    • GTBank 0114016493
    • UBA 1019195493
    • Account owner: First Atlantic Semiconductors & Microelectronics.
  3. Flutterwave: follow this link (naira) or this one (USD) to use your Verve, Visa, Mastercard, Amex, etc cards across Africa and beyond.
  4. Automatic Access: Pay via this Tekedia link for self-automatic enrollment with username.
  5. Zelle:  email us for the Zelle phone number for transfer

After payment, email tekedia@fasmicro.com with participant’s name and code or program paid for, to complete the registration.

Additional Registration Benefits 

Video presents overview of Tekedia mini-MBA.


Theme: Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies

Introduction

Over the last few decades, digital technology has emerged as a very critical element in organizational competitiveness. It has transformed industrial sectors and anchored new business architectures, redesigning markets and facilitating efficiency in the allocation and utilization of factors of production. The impacts have been consequential: nations like Nigeria are moving towards knowledge-based economic structures and information societies, comprising networks of individuals, firms and states that are linked electronically and in interdependent relationships. In this program, we will examine this redesign within the context of fixing market frictions and deploying growth business frameworks in a world of perception demand where meeting needs and expectations of customers are not enough.

Program Time: Aug 10 – Dec 3, 2020

Venue & Format: Online via videos, articles, webinars, and flash cases. Program is self-paced which means you consume the materials at your own time and pace.It is completely online. You will have something to complete within 7 days. You decide when you do that within the window. Where you live or your time zone would not be an issue as program is not live-delivered.

Cost: US$140 (N50,000 naira) (20% discount for bulk registration of at least four). We have payment plan, i.e. installment payment plan.

Program Structure: The program structure is presented below.

Theme: Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies

Week Date Focus 
1 Aug 10 Innovation & Growth

The Innovation and Growth of Firms – Prof Ndubuisi Ekekwe

Digital Transformation, Innovation & Strategy – Jude Ayoka, Manager, Access Bank Plc

Innovation Lessons: 5in5 (5 Firms in 5 Sectors) – Africa/Global – Aderinola Oloruntoye, Dean, Workforce Group

2 Aug 17 Business Systems & Processes

Business Playbook, Manual and Execution – Prof Ndubuisi Ekekwe

Process Improvement and Operations Management – Rasheed T. Adebayo, Operations Manager, Schlumberger

Quality and Asset Management – Michael Odigie, Vice President Technical Services, Delek Logistics

3 Aug 24 Business Model & Transformation

Modern Business Models and Growth  – Prof Ndubuisi Ekekwe

Effective Organizational Change Management – Omowunmi Adenuga-Taiwo (ex Strategy Consulting Manager Deloitte)

Sector Transformation: Ecommerce – Olufemi S. Aiki, Co-Founder, Foodlocker

4 Aug 31 Exponential Technologies and Singularity

– Transdisciplinary Agora for Future Discussions, Inc (TAFFD), Georgia, USA.

Edward Hudgins, PhD
Chogwu Abdul, PhD
Gennady Stolyarov II
Brent Ellman

5 Sept 7  New Technologies, Growth, Disruptive Innovation

–         Cybersecurity – Adetokunbo Omotosho, CEO, Infoprive

–          Blockchain – Franklin Peters, CEO, Bitfxt

–          AI &  Cloud – Wale Olokodana, Azure Business, Microsoft

–          Data Management, Big Data Analytics – Dr Adewole C. Ogunyadeka, esure Group Plc

6 Sept 14 Finance, Investing, Fundraising

Investing and Fundraising – Victor Ndukauba, Deputy Managing Director, Afrinvest West Africa

Capital Market Operations – Azeez Lawal, CFO, TrustBanc Group

Personal Finance and Wealth Management – Japheth Jev, CIMA(UK), CGMA, ACA, Japheth Consulting

7 Sept 21 Logistics & Supply Chain Management

Supply Chain Systems and Management – Ayodele Adenaike, COO, GIG Logistics

Outlook on Supply Chain Management – Luiz Paulo Silva Barreto, Graduate of MIT Supply Chain Management

Logistics – Samuel Akinniyi Ajiboyede, CEO, Zido Logistics

Lab #1 – Tekedia Institute

8 Sept 28 Marketing, Sales Management & Business Objectives

Sales Management, Marketing and Growth – Moby Onuoha, Queen’s University

Stimulating New Markets Through Innovation And Perception Demand – Prof Ndubuisi Ekekwe

Execution – Business Objectives and Technologies, Nnamdi Onyebuchi, CEO, Weco Systems Group

9 Oct 5 Live Session Q/A (will be recorded)

LIVE SESSION: Building Your Business Financial Models (templates included) – Michael Olafusi, Financial Analyst Fellow, Brightmore Capital; Lead Consultant, UrBizEdge

Career and Jobs During Pandemic – Captain Ola Olubawale, CEO, Seamate Australia

Career Planning – Precious Ajoonu, Manager, Jobberman

10 Oct 12 Leadership and Human Capital

Business Process and Leadership –  Prof. Ayodeji Oyebola, Saint Mary’s University of Minnesota

Human Resources Management .- Adora Ikwuemesi, Director Kendor Consulting

Leading and Managing Teams, Stakeholder Management with NICER Model  – Dr. Chisom Ezeocha, Project Delivery Manager, Shell

11 Oct 19 Media & Branding 

Media, Communications, and PR – Grace Akinosun, CEO, smepeaks

Branding and Advertising – Akachi Ngwu, Executive Director/COO, Luzo Digital Network & Media

Product Design and Packaging – Kemisola Oloriegbe, Manager, Nigerian Breweries Plc

12 Oct 26  Sector Innovation and Focus: Case Studies

– Fintech – Olugbenga GB Agboola, CEO / Co-Founder, Flutterwave

– EdTech – ‘Dimeji Falana, CEO, Edves

– Agtech –  Ndubuisi Ekekwe, Founder, Zenvus

– HealthTech – Enoh John, CEO, Lafiya TeleHealth

Lab #2 – Tekedia Institute

13 Nov 2 Career Week (see below)
14 Nov 9  Global Markets & Projects

Supply Chain Management, Global Partnership & Contracting – Adebayo Adeleke, ex-Chief of Contracting and Deputy Chief, Business Operations Division, US Army

 Effective Project Management – Taiwo Abraham, Project Manager, Horizant

15 Nov 16 Accounting & Auditing

Auditing, Forensics, Policies and Controls – Yusuf O. Sanni (ACA), Chief Internal Auditor, BUA Cement Plc

Accounting, Building Sustainable Enterprises – Ndubuisi Umunna (ACA), Head Finance Accounts & Admin, Royal Exchange

Effective Financial Planning and Management – Okpaise Kenneth, Financial Advisory Manager, AIICO Insurance Plc

16 Nov 23  Law, Contracting & Globalization

Business & Commercial Law  – Chukwuemeka Mbah (LLB, BL, LLM) Law, Manager, Sherwin Williams

Contracting, Negotiation and IP – Jeff Chineme Maduka (LLB, BL, LLM), Snr Legal Manager, American Tower

17 Nov 30 Sustainability & Risk Management

Disruptive Sustainability Innovation for Long Term Business Growth – Eustace Onuegbu, President, incsr.org

Sustainability Strategy and Social Innovation – Temitayo Ade-Peters, CEO, We For Good

Risk Management –  Akeem Rasaq, Head Of Risk Management, Chapel Hill Denham

Lab #3 – Tekedia Institute

18 Dec 3 Execution & Growth

Driving Profitable Growth, Marginal Cost, Scaling – Prof. Ndubuisi Ekekwe

The Call to Execution (Summary) – Prof Ndubuisi Ekekwe

Report , Closure

*(Weekdays and Saturdays have Live sessions; the contents are recorded for replay). **In some names (law, accounting, etc), we have to put the professional titles due to the regulatory nature of the fields.

Tekedia Now Offers Amazon AWS Credit To Innovators In Mini-MBA

Certificate Programs: We processed feedback from Tekedia Mini-MBA Edition 1 and members noted they would like to do projects. Accordingly, we have unveiled new Certificate courses which are completely capstone-based. Tekedia capstone is a research paper or a case study exploring a topic, market, sector or a company.  You must have attended, begun or about attending Tekedia Mini-MBA to qualify to register. Each certificate course costs $60 or N20,000.

  • CLSM Certificate in Logistics and Supply Chain Management
  • CSBM Certificate in Startup and Small Business Management
  • CETS Certificate in Exponential Technologies and Singularity
  • CPCD Certificate in Personal Career Development
  • CPFM Certificate in Personal Finance & Wealth Management
  • CBIS Certificate in Business Innovation, Growth & Sustainability

Tekedia capstone is a research paper or a case study exploring a topic, market, sector or a company. You will pick a topic which the Institute will approve.Then you will go and execute that project. Think of this as a final year student product in a university. We expect it to last a maximum of 3 months. The member will submit a report at the end of the capstone. For someone who wants to start a business, you may choose a topic to do market study in that sector. You design a questionnaire and execute your study. Essentially, the essence of this is to apply what you have learnt in the Mini-MBA to produce a practical business document. Here, we provide potential capstone topics (the topics are limitless):

  • A digital logistics strategy for Lagos State
  • Market study for website design business in Northern Nigeria
  • The competitiveness positioning of Jumia in African ecommerce
  • The future of fintech in Ghana
  • Implication of AI technologies in African banking
  • My personal career roadmap: 3, 5 and 10 years
  • Building wealth via Treasury Bills
  • Business longevity roadmap for ABC Limited
  • Angel investing market in Kenya
  • A comprehensive business plan with market data for ABC Limited
  • Mobile banking and impact of USSD

Selected Testimonials from Tekedia Mini-MBA Participants

This edition 3 is the same as edition 2; some stakeholders have asked us to run another edition now that the pandemic is stabilizing in most regions

Career Week: To Transform Workers into Leaders and Innovators.

Our Career Week (Nov 2-6 2020) is not designed for finding jobs. Rather, it is structured to TRANSFORM workers, founders & entrepreneurs into business leaders and champions of innovation in their companies. The sub-theme is Nurturing Innovators: Career Planning & Resilience During Disruption. It will be packaged under the Tekedia Mini-MBA theme of Innovation, Execution & Growth. Our knowledge experts for the Week include human resources experts and leaders from MNCs and startups, across industries and global regions:

  • Dupe Akinsiun – Head, Leadership & Capabilities Center, Coca Cola HBC
  • Nnenna Jacob-Ogogo – Head, Alpher, Union Bank
  • Precious Ajoonu  – Manager, Jobberman
  • Bukola Kogbe, Regional HR Director – Africa, Barry Callebaut
  • John Wesey – CEO, Psyntech
  • Dr Akanimo Odon – CEO,  Envirofly Consulting UK 
  • Antonia Adeyemi, CIPD – Managing Director,  StatsXperts Consulting
  • Dapo akinloye – COO, Emerald Zone, ex-HR Head, Lafarge CBG
  • Dr. Fatai Olajobi – Partner, Neo-Neurons Concept
  • Dotun Jegede, Senior Partner, Dee Bee Consulting
  • Elizabeth (Ayeni) Nyah, Human Resources Business Partner, VDT Communications 
  • Ezra Anajonu – CEO, Save’N’Fflex
  • Capt. Ola Olubowale – Manager, Viva Energy Australia
  • Abraham Owoseni.com – Principal Consultant, MindMould

Video presents overview of weekly session

Target Audience: This program is designed for professionals across functional areas like sales, marketing, technology, administration, legal, strategy, finance, etc across all business sectors and domains.

Learning Objectives: To innovate is to set a new basis of competition in an economy, business sector or market. Most times, it results to disruption. This program is designed for private (large, SMEs, startups) and public institutions. Participants will:

  • Master the mechanics of digital growth – the reward of innovation – through frameworks, cases and evolving strategies.
  • Understand how to undergo digitization journey that is fully aligned with corporate objectives through measurable and realizable benchmarks.
  • Acquire business capability tools that do not just RUN their firms but can TRANSFORM them.
  • Design corporate growth experiments in Lab sessions based on One Oasis Strategy, Aggregation Construct, Double Play Strategy, Accumulation of Capability Construct, and more.

Facilitator:  Prof Ndubuisi Ekekwe invented and patented a robotic system which the United States Government acquired assignee rights in 2017. Dr Ekekwe holds two doctoral and four master’s degrees including a PhD in engineering from the Johns Hopkins University, USA. He earned undergraduate degree from FUT Owerri where he graduated as his class best student. While in Analog Devices Corp, he co-designed an accelerometer for the iPhone. A recipient of IGI Global “Book of the Year” award, a TED Fellow, IBM Global Entrepreneur and World Economic Forum Young Global Leader, Prof. Ekekwe has held professorships in Carnegie Mellon University and Babcock University, and served in the United States National Science Foundation Committee. The South African press called him “a doctor of innovation” for helping organizations on the mechanics of business innovation, strategy and growth. Since 2009, the Chairman of Fasmicro Group which controls many startups and entities has been writing in the Harvard Business Review.

Our sample certificate which will be awarded to participants

Tekedia Mini-MBA Corporate

Tekedia Mini-MBA Corporate is a customized version of the general Tekedia Mini-MBA. It is  designed for private and public institutions. It focuses on the same theme of innovation, growth and digital execution. But unlike the 4-month general Mini-MBA, the Corporate vision goes for 6, 8,10 or 12 weeks. Email for a quote.

 

Selected Testimonials

Participant class assignment
student work

“Sir, I am overjoyed. I just received a promotion. On Thursday, I sent to my CEO a Covid-19 Continuity Plan, using the template you made available in Tekedia mini-MBA class. Early today, management asked me to present it via video. Ten minutes ago, I received an email from Head Admin that management wants me to execute that template, and they also promoted me. I am also getting a refund for my personal investment on this training. I want to say thank you to all the faculty for this service.”

  • A participant received funding after using ideas from our session on fundraising.

“I discarded my business plan and used the Week 1 business canvas on the Challenge Assignment. Today, I am happy to share that less is indeed better: we received $25,000 from an investor. I want to thank all the faculty especially Mr. Azeez Lawal. His course on Fundraising with African sense is the best ever. I also thank you for a statement in one of the class videos, “Your customer can be your investor. Believe this… the best investors are customers”. This investor is a customer and we will begin by serving his company even though we are a separate company.”

Selected faculty

Testimonial from Soulmate Industries Ltd

Free for all Mini-MBA edition 2 participants
Free for all Mini-MBA edition 2 participants

 

Being Nigerian

1

There have been statements that if anyone can survive in Nigeria, such a person can survive anywhere in the world. Perhaps, there are good reasons for saying this.

Nigeria has the largest population in the African continent, and one of the largest in the world. It is also an endowed nation as almost all the states have abundant natural resources. These resources include crude oil, coal, tin, uranium, lead, and so many others. The country has arable land as well which enables her to grow different crops such as yam, cassava, maize, millet, sorghum, tomato, cabbage, carrot, beans, oil palm, rice, etc, as the list is inexhaustive. This makes the country one of the best places to live in, and Africa’s top economy by GDP.

However, the same country has been bedeviled by conflicts, corruption, and abuse of power in recent years. These conflicts range from religious to ethnic conflicts. There are the Farmer – Herdsmen clashes which had left thousands dead, and many communities destroyed. This, the government has blamed on foreign nomads while the people affected claim they are Nigerians. Of course, we do not know who is saying the truth and who is not.

There have been so many accusations against the government in recent years for disregarding court judgments and being insensitive to the plight of the citizens. Of course, we understand that the government cannot be everywhere at the same time. As it is said, ‘uneasy lies the head that wears the crown.’ However, the arrest of some activists by government security agencies even without trial, in recent times, is a strong point the citizens have against the government. Citizens are afraid to speak up against government policies to avoid arrest, making it more difficult for one to be a Nigerian.

The issue of corruption has become an integral part of the system, from the Executive, to the Legislature and Judiciary. Successive governments have come up with policies to tackle corruption, but it has been a herculean task , as its taproot is as old as the country itself. Therefore, it would need the effort of both the government at all levels and citizens to tackle. The country has been labelled as one of the most corrupt countries by international ratings. It is more outrageous because while we blame our leaders in our country for being corrupt, foreigners blame the citizens. It used to be embezzlement of funds and money laundering by political leaders (elected and nominated). 

Now, it is human trafficking, drug trafficking, and internet scams. How about the issue of bias in recruitment into federal jobs or schools? There has been a public outcry , of the government’s special treatment to a particular tribe or region over others in key selections/appointments. The sound of this allegation is getting louder and louder by the day, as there is a trend. Hence, the clamour for certain groups for a restructuring of the entire process in the country, from security to fund allocation, so as to enable every region develop at their own pace, with the resources they have. This is still debated, and would be a determining factor in the future case for the continual existence of Nigeria as a country.

Being Nigerian is not so easy, as we have to work hard to make decent wages in a country that has one of the lowest minimum wage structures in the world for her workers, and one of the highest pay structures for her legislators. Of course, it is laughable.

At foreign airports, being Nigerian is associated with crime such as fraud. Although we have great citizens who make us proud overseas, we still have to grapple with the negative information the International press has labelled the country with, due to the activities of fraudulent fellows. Therefore, outsiders look at us with an extra lens. While other nationals are given a free pass, we are searched multiple times. They have been put on a red alert, and so do not believe that good people still exist here.

Of course, growing in a country such as this , you will get to experience the effect of corruption on the system. From the security officials on our highways demanding bribes, to the lecturers in our higher institutions demanding for one form of compensation or another to give you your score. How about those who demand a huge amount of money to give you a school admission that you deserve? Or the public service workers who want to be generously rewarded before they approve your request or process your documents? While we blame our political leaders for accepting bribes for contracts awarded, the same scenario is playing out in our communities as people resell land that belong to others, so as to cart away with their money.

As a result, it has become increasingly difficult to be a Nigerian. It’s no wonder some Nigerians emigrate to other countries to be sane, because day by day, we are losing our sanity. Everyday, we try to remind foreigners that we are nice people, hospitable people, when amongst us, we slander one another , and even stigmatise based on tribe and religion.

In other words, being Nigerian has become a stigma as some of our African brothers drive us out of their countries. We cry for fairness, equality and justice in our country. It is not surprising why our leaders send their children to foreign schools…they do not believe in our educational system anymore. They understand what it means to be a Nigerian, and do not want their families or wards to experience the same, for it could be traumatising.

Tekedia New Certificate Courses; Tekedia Mini-MBA Edition 3 Registration Begins

2

We processed feedback from Edition 1 and members noted they would like to do projects. Accordingly, we have unveiled Certificate courses which are completely capstone-based. Tekedia capstone is a research paper or a case study exploring a topic, market, sector or a company.  You must have attended, begun or about attending Tekedia Mini-MBA to qualify to register. Each certificate course costs $60 or N20,000.

  • CLSM Certificate in Logistics and Supply Chain Management
  • CSBM Certificate in Startup and Small Business Management
  • CETS Certificate in Exponential Technologies and Singularity
  • CPCD Certificate in Personal Career Development
  • CPFM Certificate in Personal Finance & Wealth Management
  • CBIS Certificate in Business Innovation, Growth & Sustainability

Tekedia capstone is a research paper or a case study exploring a topic, market, sector or a company. You will pick a topic which the Institute will approve.Then you will go and execute that project. Think of this as a final year student product in a university. We expect it to last a maximum of 3 months. The member will submit a report at the end of the capstone. For someone who wants to start a business, you may choose a topic to do market study in that sector. You design a questionnaire and execute your study. Essentially, the essence of this is to apply what you have learnt in the Mini-MBA to produce a practical business document. Here, we provide potential capstone topics (the topics are limitless):

  • A digital logistics strategy for Lagos State
  • Market study for website design business in Northern Nigeria
  • The competitiveness positioning of Jumia in African ecommerce
  • The future of fintech in Ghana
  • Implication of AI technologies in African banking
  • My personal career roadmap: 3, 5 and 10 years
  • Building wealth via Treasury Bills
  • Business longevity roadmap for ABC Limited
  • Angel investing market in Kenya
  • A comprehensive business plan with market data for ABC Limited
  • Mobile banking and impact of USSD

For more, visit – https://www.tekedia.com/programs/

Note for Edition 2 members, you can still add a Lab Review to enable Tekedia Institute review your labs. Cost is $30 or N10,000 naira. 

Finally, registration for edition 3 (Aug 10-Dec 3) has started. This edition 3 is the same as edition 2 (June 22-Oct 22); some stakeholders have asked us to run another edition now that the pandemic is stabilizing in most regions. Same $140 or N50,000.

To add/register for these courses, begin here https://www.tekedia.com/pay

Our Nov 2019 Article Predicting OPay Meltdown

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Tekedia accurately predicted the OPay paralysis when we wrote that it had “no future” unless it changed its growth hypothesis. I concluded that piece with this quote, “If you [OPay] think you can achieve what took Paga about ten years in 18 months, Lagos Lagoons will welcome your ideas and OLX, Efritin, etc may be like peers in the swimming rivers.”

OPay has hit Nigeria’s legendary “long” gestation period before a business can turn a profit. Because you are your own electricity board (via your generator), your own waterboard (via your borehole), your own police (via your guards), etc, you have many inefficiencies in the utilization of your factors of production. Unlike in the U.S. or Europe, where your real challenge is growing the business, in Nigeria, you have to deal with orthogonal matters that may trip you the whole day. Yes, the generator man forgot to buy diesel and now there is no light to power the laptops!

People, Nigeria is different; throw away your London, Beijing and New York playbooks.

The OPay’s Massive 1% “Tax” on Nigerians

The U.S. Government’s Purchase of All Available Remdesivir Drug May Have Nationalistic Consequences

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The move by Trump’s administration to buy up all available remdesivir drug for the United States alone has been widely condemned. Remdesivir is a promising drug for the treatment of COVID-19, which has been on trial for months.

This week, Trump’s administration bought up almost the entire supply of the drug, which means, other countries will not have access to it until maybe the next three or four months.

“President Trump has struck an amazing deal to ensure Americans have access to the first authorized therapeutic for COVID-19. To the extent possible, we want to ensure that any American patient who needs remdesivir can get it,” said the US health and human services secretary, Alex Azar. “The Trump administration is doing everything in our power to learn more about life-saving therapeutics for COVID-19 and secure access to these options for the American people.”

Remdesivir was developed by Gilead Sciences; a California-based pharmaceutical company, being the first to produce an internationally recognized drug, approved by health authorities and effective for the fight against coronavirus. Trump’s move has been seen as a disruption to the global synergy in the battle against the virus, and it is being enforced by his “America first” rhetoric.

“We know Trump was Mr. ‘America first,’ but this is still a deplorable act in the face of a global crisis,” said Michael Smith, University of Aberdeen.

Apart from the “America first” ideology, patent rights that has resulted in monopoly of goods and services, especially when it has such a global impact, has been brought into question. Gilead Sciences put the cost of remdesivir at $3,200 per treatment of six doses, and due to patent, it is the only company that can produce it in developed countries.

“This is what happens when the world relies on a broken system driven by greed and profit during a pandemic,” tweeted Global Justice Now, a UK-based advocacy group.

The director of Global Justice Now, Nick Dearden said the government should override the patent to save the situation.

“Governments have a right to override this ludicrous patent system under international law, and they should take the opportunity to do that now, saving the [National Health Service] and patients around the world from the profiteering of these dysfunctional corporations,” he said.

The situation has alarmed the rest of the world, experts and campaigners said the US’ unilateral action will have wider implications when a vaccine becomes available.

Gilead’s decision to charge $3,200 per privately insured patient has been also condemned by advocacy groups. Public Citizen said it is “offensive” given that more than $70 million taxpayers’ money was thrown into developing the drug.

The US Health and Human Services Department (HHS) said it has secured the entire projected production for the next three months, because its purchase “represents 100 percent of Gilead’s projected production for July (94,200 treatment courses), 90 percent of production in August (174,900 treatment courses), an 90 percent of production in September (232,800 treatment courses), in addition to an allocation for clinical trials.”

This means that, even after September, the rest of the world will not have access to the drug unless the UK and other nations use the only option available. The Guardian reported that the UK and other nations have the choice of purchasing remdesivir through “generic companies in Bangladesh or India, where Gilead’s patent is not recognized.”

Gilead has voluntary license agreements with drug manufacturers in Egypt, India and Pakistan to supply remdesivir to 127 lower-income countries. It is under this agreement that generic production of the drug is permitted but with specified conditions.

Although it is not sure if remdesivir will provide the remedy for COVID-19 as studies during its trial yielded not much significant result from other drugs, Gilead has been asked to relinquish its patent. Advocacy groups said it is not time to think of profit when humanity is at war with a pandemic.

But with the Trump administration’s position on the matter, it appears impossible that any other nation will have access to remdesivir through Gilead. The whole situation seems to have been politicized with Trump desperately looking for a magic wand to turn events around in favor of his reelection. His handling of COVID-19 pandemic has been described as “disastrous” and it has jeopardized his chances at the November election. Trump believes that getting effective drug for the virus will turn things around in his favor.

In mid-March, Trump had reached out to Germany with a billion dollars offer to purchase a coronavirus drug being developed by the firm CureVac only for the United States. Germany responded to the offer saying that “Germany is not for sale.”

The “America first” ideology and the recent political interest have compounded the situation. Other nations are still working on vaccines for the cure of coronavirus. With this move by Trump, the United States may be excluded from the coronavirus global synergy that is supported by the WHO’s COVID-19 Technology Access Pool (C-TAP), if a cure is found outside the US.

Another concern is that it has set a precedent that other nations may follow. Dr. Deborah Gleeson, a senior public health lecturer at La Trobe University in Australia, called the development “outrageous” and “a concerning precedent.”

“It’s quite outrageous that the US government has bought up almost the entire next three months’ supply of remdesivir. It’s a very concerning precedent because if we see the vaccine coming from a US company, we’re likely to see the same type of behavior and hoarding by the US and other developed countries. With a pandemic like COVID-19, the problem won’t be solved until it’s sold for the whole world,” she said.