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Home Blog Page 6270

Being Nigerian

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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

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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.

The MultiChoice (DStv, GOtv) BIGGEST Survival Game in Nigeria

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As predicted when I wrote that MultiChoice’s DSTV and GoTv could simply abandon European football rights in Nigeria, the satellite TV company is moving in that direction: “DSTV’s parent company is considering not to renew its premiership and UEFA Champions League broadcast rights when they expire”. The deteriorated naira value and the fact that DSTV cannot increase rates even as its raw material price is increasing are reasons noted. If MultiChoice follows that path, and does not renew, Nigerians may now depend on NTA, the national TV station, and the government for this luxury product. 

MultiChoice seems to have been caught up in a difficult situation, the DSTV’s parent company is considering not to renew its premiership and UEFA Champions League broadcast rights when they expire.

ThisDay reported on Thursday that a source from the satellite TV company revealed how financial losses are forcing it to make the difficult decision not to renew for the 2021/22 football season.

The development was attributed to Nigerian business environment that has yielded low patronage, which does not make up for the cost of broadcast rights which the company said is exorbitant. Moreover, the free fall of naira against the dollar is said to have compounded the situation.

ThisDay quoted the source as saying: “It is becoming impossible to maintain many of these sports rights, especially the EPL, for Nigeria. The recent fall of the naira against the dollar has equally not helped matters.

“Rights for the African continent used to be bought singly, but this changed in 2007 when a competitor, backed by the federal government, forced the EPL to excise Nigeria from the rest of Africa. Now, the cost of the rights for Nigeria has risen to almost the same with the rest of the continent put together, while the number of subscribers in Nigeria is only about one quarter of the rest of the continent.”

Once NTA makes it tender to Europeans, it will notice one thing: the cost of this product has been rising: “The cost of English Premier League broadcast rights has risen almost 8% to 9.2 billion pounds ($12 billion) for the next three seasons”. If you make it a direct correlation, it simply means that DStv should be increasing costs by 8% over the next few years. But in Nigeria, even though naira is losing value to the euro or pounds sterling, DStv is expected to freeze its rates. That does not make sense! 

Technically, unless MutiChoice has changed its business charter to non-profit, it has no business in Nigeria. When you add the new muted plan to force it to license its expensive London luxury product to local players, at Umuahia rate, you will understand the outcome. Yes, MultiChoice will abandon Nigeria and will not renew its EPL rights unless Nigeria allows it to increase rates, to compensate for increasing cost of the raw material and naira deterioration.

Hello Kano Pillars & Enyimba! Yes, local sports teams are still there.

The statistic depicts the revenue from the Premier League television broadcasting rights from 1992 to 2019. From 2013 to 2016 the Premier League generated over 3 billion pounds in revenue from its marketing of TV broadcasting rights per year. (source: statista)

Comments from LinkedIn Feed

With (1) rising cost of EPL license, (2) deteriorating value of the naira, (3) government interference in pricing and (4) a detached-from-reality expectation by customers for the company to offer PAYG, it is quite probable that the numbers no longer stack up and the company wants to quit. It may well be that the only option of watching EPL in Nigeria is via streaming on pirate websites and over expensive and sub-optimal connections. Good luck to all the viewers.