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This Plot Explains Nigeria Since 2010 – Yet To Recover FULLY From 2008 Great Recession

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youth unemployment in Nigeria

Nigeria is yet to recover FULLY from the Great Recession of 2008. While many continue to look at the stock market for signs, the sign that matters is evident – we are losing a generation of young people on acute sustained unemployment. Yes, ‘Youth unemployment and underemployment was 55.4% in third quarter of 2018, leaving more than half of the country’s largely youthful population idle most of the time.’ Look at the trajectory of the proportion of full-time youth employment – not a good pattern!

The proportion of Nigerians younger than 35 in full-time jobs has dropped consistently since 2014, according to data from the nation’s statistics agency. Youth unemployment and under-employment was 55.4% in third quarter of 2018, leaving more than half of the country’s largely youthful population idle most of the time. Finding a job in Africa’s biggest oil producer is getting tough for everyone, with the average unemployment rate rising to 23.1% last year from 5.1% in 2010 as a sluggish economy fails to keep up with a fast-growing population

As Emir of Kano noted, one does not need a seer to model the future implications for the nation. I have called this the gray lizard.

In America, they talk of black swans: ” high-impact risks that are highly improbable and therefore almost impossible to predict”. Yes, “an unpredictable or unforeseen event, typically one with extreme consequences.” That is it: “something extremely rare”. So, because it is rare, you do not (usually) plan for it. Arab Spring was a black swan as the leaders of North Africa could not have modeled that risk.

In Nigeria, we do not just have black swan. We have gray lizard. It is a high impact risk, that is highly probable and evidently visible but totally, widely and irresponsibly ignored. The massive youth unemployment in Nigeria is a gray lizard. Governments see it daily but it is totally ignored.

Going forward, I will make my platforms available to share jobs – all jobs will be archived here. If you are looking for jobs, FOLLOW me, and if you have, please InMail or share with my team on click. Let us see how to help these young people.

My case remains: the Nigerian government must stimulate the economy through extended and massive injection of loan guarantees to help small businesses grow to absorb these young people.

[Apply] Kobo360 Is Hiring in Ivory Coast (Côte D’ivoire)

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Africa’s leading digital logistics pioneer, Kobo360, has job openings in Ivory Coast (Côte D’ivoire). We are looking for Logistics & Supply, Business Development, Accounting, and Operating professional with experiences in FMCGs, industrials, agro and agro-allied, etc with focus on logistics and supply chain. We need people who besides French can speak and write on basic English. Understanding the logistics geography of Ivory Coast is critical.

We are looking for brilliant people to join the KoboSquad as the mission of fixing logistics fiction in Africa expands. The call is simple: build and operate a Global Logistics Operating System (G-LOS). Kobo360, starting from Nigeria, has expanded into many markets in Africa. Backed by some of the most prestigious investors in the world including World Bank IFC, Kobo360 clients include Dangote Group, Olam, Flour Mill, Unilever, etc. We will be happy to have you in this business.

Kobo360 is a tech-enabled digital logistics platform that aggregates end-to-end haulage operations to help cargo owners, truck owners and drivers, and cargo recipients to achieve an efficient supply chain framework. Through an all-in-one robust logistics ecosystem, Kobo uses big data and technology to reduce logistics frictions, empowering rural farmers to earn more by reducing farm wastages and helping manufacturers of all sizes to find new markets. Kobo enables unprecedented efficiency and cost reduction in the supply chain, providing 360-visibility while delivering products of all sizes safely, on time and in full. The Kobo mission is to build the Global Logistics Operating System that will power trade and commerce across Africa and Emerging Markets.

Applications / submissions can be sent to careers@kobo360.com.

BE FREE – Ordinary People Have Changed Empires

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As at 1937, exercising was seen as voodoo science on improving human health. When people reported to some doctors that they felt better after exercising, most doctors discounted the impacts. Also, just about 15 years ago, some people that ate exclusively organic food (no chemicals used in growing the food), in America, were seen as weird people. Today, those elements are now the mainstream: exercising is saving lives and eating organic is a pursuit for many as it is now a luxury. Never be afraid to push for change. Since Ancient Egypt, ordinary people have changed empires.

There is a growing body of evidence that shows some potential health benefits of organic foods when compared with conventionally grown foods. While these studies have shown differences in the food, there is limited information to draw conclusions about how these differences translate into overall health benefits. Potential benefits include the following:

  • Nutrients. Studies have shown small to moderate increases in some nutrients in organic produce. The best evidence of a significant increase is in certain types of flavonoids, which have antioxidant properties.

  • Omega-3 fatty acids. The feeding requirements for organic livestock farming, such as the primary use of grass and alfalfa for cattle, result in generally higher levels of omega-3 fatty acids, a kind of fat that is more heart healthy than other fats. These higher omega-3 fatty acids are found in organic meats, dairy and eggs.

Comment on LinkedIn Feed

COMMENT: That’s not true. Standing armies have had physical fitness regimes for centuries.

MY RESPONSE: Armies had fitness to fight, not necessarily to live well. The correlation of exercise to wellbeing while not new science was NOT universally accepted until about 80 years ago. The fact remains that exercise was not prescribed en mass until recently to manage diseases like diabetes, etc. “However, exercise was not prescribed for the noncureable form of diabetes known as mahu-meha (12).

As noted above, Susruta was of the opinion that participation in excessive exercise, interpreted to mean strenuous or heavy physical activity, would cause multiple diseases and potentially lead to death (46). Consequently, he discouraged patients from active participation” https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4056176/

Unlike now where it is universally accepted, exercise was not the norm until recently. Some used it but many did not. Doctors here with knowledge of medical history on exercise can add

Proposing Reform is Not an Attack – We Can Debate Breaking into Audit and Non-Audit Firms

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There is no need of privately writing me about my point on breaking accounting firms into audit and non-audit businesses to boost independence and audit quality.  If you think anytime someone writes to improve something, that person is attacking the people, stop reading me. Some have used the word ‘defame’, ‘malign’, etc. I understand – but it changes nothing.

My recommendation remains: no company can be an advisory firm and also an auditing firm. Advisory and Auditing businesses should be independent companies, not just divisions or units within one company – either you do advisory or you do auditing.  That way we can reduce conflicts

I am not an accountant and please bear with me for my perspective on this. But I have seen things that make me sad. In Nigeria, we need to ensure that any company offering Auditing services cannot sell Advisory services besides audit!  Simply, all auditing firms must do only one thing – auditing.

I am an academic – we live to freely share ideas, objectively, without any fear. I am not a contractor, so I am not afraid of not being awarded a contract. Be guided if you want to imitate me! Unless you are worried that breaking the firms will reduce their revenues, there is nothing you can say I have said maliciously.

But I can assure you that I have respect for these big firms; my two sisters are accountants. Yet, that does not mean I cannot make recommendations to make auditing better in Nigeria. If moving the audit unit makes them better, they win, and Nigeria also wins.

May we live in an era in Nigeria where men and women can make recommendations without fear of their stomachs! People seem extremely fearful not to offend, making herding easier with no injection of new ideas. Any contrary insights are seen as rebellion. I did not want you to lose your job – I was simply hoping Nigeria works better to protect and expand that job. Country First!

I would have expected someone asking how to execute the breakup without loss of jobs and chaos in our economy. You can make points why it may not be optimal. But framing that I was attacking these firms is unfortunate. Please wear bigger pants – we are all adults!

But read this: by 2025, my point will happen in UK.

The report seeks to keep up reform momentum after past attempts to end the so-called Big Four’s dominance of book-keeping made little headway.

EY, KPMG, Deloitte and PwC have sought to head off being split up by voluntarily agreeing not to offer consultancy services to audit clients.

The cross-party report said that if the CMA opts for only operational separation, it should be reviewed after three years to see if it ends cross-subsidies and improved audit quality.

“If not, we recommend that the CMA then move to implement a full structural break-up of the Big Four into audit and non-audit businesses in the UK,” the report said.

Deloitte said a structural split would harm audit quality, and could materially damage Britain’s competitive position as a leading capital market. The “Big Four” are global but the reforms could only apply in Britain.

UBER Left Wall Street with $120 Billion; in Main Street, it has $64 Billion Left

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Uber was $120 billion with the exclusive Wall Streeters. Today, as it trades in public market, it is less than $64 billion. Uber – welcome to the Main Street. You will be fine, but you need to understand how to manage with cola and not just champagne. All those $120 billion virtual wealth have come home for reality checks!

Morgan Stanley nabbed the biggest U.S. initial public offering of the past five years. Now it gets to field the second-guessing after Uber Technologies Inc.tumbled 18% in its first two days of trading.

Across Wall Street, questions are flying: Why did bankers including Morgan Stanley’s suggest a $120 billion valuation last year that Uber couldn’t deliver? Did the syndicate led by the firm set the IPO’s price too aggressively? And did they steer too much stock to big investors who made hollow pledges to hold it long term?

Dara Khosrowshahi rings the opening bell during the Uber’s IPO on the floor of the NYSE in New York on May 10. Photographer: Michael Nagle/Bloomberg

Apple Response

Today’s decision means plaintiffs can proceed with their case in District court. We’re confident we will prevail when the facts are presented and that the App Store is not a monopoly by any metric.

We’re proud to have created the safest, most secure and trusted platform for customers and a great business opportunity for all developers around the world. Developers set the price they want to charge for their app and Apple has no role in that. The vast majority of apps on the App Store are free and Apple gets nothing from them. The only instance where Apple shares in revenue is if the developer chooses to sell digital services through the App Store.

Developers have a number of platforms to choose from to deliver their software — from other apps stores, to Smart TVs to gaming consoles — and we work hard every day to make our store the best, safest and most competitive in the world.