₦airaland Forum

HRHQueenPhil:
Very nice
I wish I had such money to bless their lives
A new Nigeria will emerge

Lol

Access Bank has announced N50 billion in support of Nigerians through interest-free loans and grants to support communities, the youths as well as micro, small and medium-sized businesses.

The bank disclosed this through its official LinkedIn page.

It said the move was to support businesses following the crippling COVID-19 lockdown as well as the looting and arson that trailed the #ENDSARS protests.

According to the bank; “Now more than ever, we remain committed to our purpose of impacting lives positively.

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” In light of the recent occurrences, we will be supporting Nigerian businesses with N50 billion interest-free loans and grants. Watch this space for more information.”

The support by Access Bank is expected to help business owners and entreprenuers alleviate and stimulate economic activities, as well as produce many positive multiplier effects on the economy.

“As a way of supporting SMEs and the working class of the country following the recent damage of properties and livelihoods experienced across the nation, @myaccessbank has rolled out interest free loans of up to N50 billion.

“The fund is expected to serve as a kickstart to these affected communities, people and businesses. #AccessCares #All4One,” the bank added.

Source: https://businessmetricsng.com/access-bank-announces-n50-billion-interest-free-loan-for-small-businesses/

Italian luxury car manufacturer, Ferrari, has issued a recall of its 812 Superfast vehicles in the United States.

Reports show that the manufacturer has recalled about 1,063 units of the model manufactured between 2018 and 2020.

This is due to a rear window that can come off during high speeds. The windows were alleged not fixed properly during the manufacturing phase. The error is believed to have emerged from the non-cleaned glass bonding area on the bodywork

The manufacturing glitch was first reported in March this year in Germany. Following two more complaints, Ferrari launched investigations leading to the recall order.

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The recalled vehicles will be ready from December this year. The move by Ferrari contributes to the growing list of vehicle recalls this year.

Notably, as of July this year, approximately 13 million vehicle units had been recalled due to various defects. Toyota accounted for the highest recalls at 3.95 million units.

The 812 Superfast model is the company’s fastest road-going vehicle by Ferrari. The vehicle comes with a 6.5 liter and V12 engine. The model was introduced to replace the F12tdf.

The recall comes as Ferrari plans to announce its 2020 Q3 results on November 3rd. During the announcement, investors will be keen to understand Ferrari’s plans. Most specifically, stakeholders will be keen to learn if the company will venture into electric cars.

Source: https://businessmetricsng.com/ferrari-recalls-1063-of-its-812-superfast-model-due-to-rear-window-glitch/

neonly:
My brother me I don't even take serious again they betray d trust Nigerian had on them to fight for them
So sad honestly

Yes óò... So sad

pharmagba:
Selfish set of people
Issue on fuel hike, NLC muted
Issue on electricity hike NLC muted
Issue on #endsars, NLC muted

Now NLC suddenly got a voice?

Àbí ooo...

YoonSung30:
hmmm its another one

What other one àbí another nonsense

The Nigeria Labour Congress (NLC) has written a letter to the President Muhammadu Buhari, disagreeing with the planned concession of four of the nation’s most viable airports.

In the letter dated October 8, 2020 and signed by Ayuba Wanna, the NLC president, the congress warned the Federal Government that it would resist vehemently if the concession went ahead without a reconsideration of the facts.

The letter entitled, ‘The Nigeria Labour Congress rejects the plan to concession Nigeria’s major airports’, asked the government to consider other viable and sustainable ways of managing airports and attracting new capital for expansion and development.

The NLC, in the said letter, highlighted ideas such as Green Field Concession and Corporatisation or full autonomy of Federal Airports Authority of Nigeria (FAAN) instead of the planned concession which would end up adding no value at all to the airports being concessioned for 20 years while some private pockets benefited tremendously..

The letter read in part, “First, is the Green Field Concession where investors are invited to make fresh investments in clearly delineated areas of deficit in our airports’ infrastructure including terminal expansion, runway expansion and upgrading of critical aviation equipment and facilities.

“Such investments should be recouped from the additional revenue from the patronage and services accruing from the use of the upgraded facilities.

“Another alternative is to corporatise FAAN. Here, government should retain 45 per cent equity share while the remaining 55 per cent is broken down for public acquisition. This is the model adopted in such climes as South Africa in a similar situation as we. This would help build investor confidence while assuaging the concerns of labour.

“Another way to optimise infrastructure layout, service delivery, revenue generation and served markets is to ensure the complete autonomy of FAAN as is the case in Ethiopia. This should be void of political meddlesomeness which has been the bane of the efficient performance of Nigeria’s aviation sector.

Source: ”https://businessmetricsng.com/nlc-rejects-airports-concession-plan-recommends-alternatives/

Imagine... God will help us finish this fight


You can also read
https://www.nairaland.com/6184039/lagos-based-fintech-firm-paystack-acquired

Stripe has acquired Paystack, an e-payment startup based in Lagos, Nigeria for a sum in excess of $200 million, TechCrunch reported on Thursday.

The report added that the move is a critical step in Stripe’s plan to penetrate the African e-payment market.

Paystack and Stripe share similarities such as the provision of a quick way to integrate payments services into an online or offline transaction by way of an API

Paystack currently has around 60,000 customers, including small businesses, larger corporates, fintechs, educational institutions, and online betting companies, and the plan will be for it to continue operating independently, the companies said.

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Terms of the deal are not being disclosed but sources close to it confirm that it’s over $200 million.

That makes this the biggest startup acquisition to date to come out of Nigeria, as well as Stripe’s biggest acquisition to date anywhere.

It’s also a notable shift in Stripe’s strategy as it continues to mature: typically, it has only acquired smaller companies to expand its technology stack, rather than its global footprint.

The deal underscores two interesting points about Stripe, now valued at $36 billion and regularly tipped as an IPO candidate (note: it has never commented on those plans up to now).

First is how it is doubling down on geographic expansion: even before this news, it had added 17 more countries to its platform in the last 18 months, along with progressive feature expansion.

And second is how Stripe is putting a bet on the emerging markets of Africa specifically in the future of its own growth.

“There is enormous opportunity,” said Patrick Collison, Stripe’s co-founder and CEO, in an interview with TechCrunch.

“In absolute numbers, Africa may be smaller right now than other regions, but online commerce will grow about 30 per cent every year. And even with wider global declines, online shoppers are growing twice as fast.

“Stripe thinks on a longer time horizon than others because we are an infrastructure company. We are thinking of what the world will look like in 2040-2050.”

For Paystack, the deal will give the company a lot more fuel (that is, investment) to build out further in Nigeria and expand to other markets, CEO Shola Akinlade said in an interview.

“Paystack was not for sale when Stripe approached us,” said Akinlade, who co-founded the company with Ezra Olubi (who is the CTO). “For us, it’s about the mission. I’m driven by the mission to accelerate payments on the continent, and I am convinced that Stripe will help us get there faster. It is a very natural move.”

Paystack had been on Stripe’s radar for some time prior to acquiring it. Like its US counterpart, the Nigerian startup went through Y Combinator — that was in 2016, and it was actually the first-ever startup out of Nigeria to get into the world-famous incubator.

Then, in 2018, Stripe led an $8 million funding round for Paystack, with others participating including Visa and Tencent. (And for the record, Akinlade said that Visa and Tencent had not also approached it for acquisition. Both have been regular investors in startups on the continent.

Source: https://businessmetricsng.com/lagos-based-fintech-firm-paystack-acquired-for-200m-by-stripe/

5G-enabled industries have the potential to deliver $8 trillion in value to the global economy by 2030, a new research from Nokia and Nokia Bell Labs has projected.

The 5G Business Readiness Report surveys 5G adoption among businesses around the world, providing a cross-sector view of the path to full 5G deployment.

This landmark report from Nokia underlines the potential for 5G to drive sustainable economic growth and define the next decade of innovation.

The COVID-19 pandemic is forecast to further increase the value creation potential of 5G in the medium and long-term by accelerating digitization, particularly among the least digitally advanced industries.

The report also highlights a clear correlation between 5G deployment and business performance. Companies at an advanced level of 5G adoption were the only group to experience a net increase in productivity (+10%) following COVID-19, and the only group able to maintain or increase customer engagement during the pandemic.

5G mature companies are also growing considerably faster than their peers: 49% of companies in the expansion phase and 37% in the implementation phase – representing the two most advanced stages of 5G maturity – achieved rapid growth last year, compared with 20% in the planning, 11% in discovery and 5% in passive phases.

These findings show that the companies who are most 5G mature, and therefore likely also the most advanced in their overall digital transformation, are showing the highest impact in business performance.

Despite the economic challenges of COVID-19, a global boom in 5G investment will see 72% of large companies invest in 5G over the next 5 years. The report forecasts a rapid uptick in investment over the next three years as enterprises seek to expedite digitalization.

A third of companies across all regions fear being outpaced by the competition should they not invest in 5G within the next 3 years.

Nokia’s 5G Business Readiness Model reveals that across 8 economies – Australia, Germany, Finland, Japan, Saudi Arabia, South Korea, the UK and the US – 50% of companies are at the midway level on 5G readiness, between initial planning, trials and deployment, compared to just 7% that are classed as 5G mature.

But significant geographic variations exist; while 13% of organizations in Saudi Arabia and 12% in the United States rated as 5G mature, fewer than one in 20 were classed as such in Germany (3%), Finland (2%) and the UK (4%).

While many organizations are at the Implementation stage, for most this still means trials, pilots or early stage deployments such as 5G mobile phones or limited 5G connectivity for fleet services or rural locations. Few have yet to realize the true breadth, depth and potential of 5G.

On average, whilst the importance of 5G adoption is well understood, a significant investment gap remains. 86% of decision makers said they have some kind of strategy for 5G, and over a third fear being outpaced by the competition should they not invest in 5G in the next 3 years. However, only 15% are currently investing in its implementation, and over a quarter (29%) of businesses are not planning any 5G investment in the next 5 years.

Gabriela Styf Sjöman, Chief Strategy Officer at Nokia, said: “As organizations across the world move faster towards deployment of 5G enabled technologies, those who wish to be the first to leverage its potential cannot afford to lose more time. To capture the tremendous opportunities of 5G, organizations must start or intensify their planning now and accelerate business model innovation to remain competitive in a rapidly digitalizing global economy. Beyond investment in the technology itself, this will require digitalizing operations, processes and ways of working to capture the full potential of 5G.”

“5G adoption is categorically shown to fuel business success. Organizations that have integrated 5G stand to benefit from advantages that go way beyond faster, more efficient and reliable network services. As 5G enables businesses to transform, it will also accelerate wider technological and economic trends, with unimaginable possibilities for global economies and societies. The cities, hospitals and factories of the future depend on 5G and the unparalleled ability it offers to move, process and store vast volumes of data. Moreover, the biggest challenges we face as a society – from climate change to the pandemic – can be better tackled through at-scale use of the data and technologies that 5G will unleash.”

Barriers To Adoption

The gap between enterprise awareness of 5G’s benefits and current levels of adoption suggests there are notable barriers to implementation. The research identified five principal barriers to 5G adoption for:

Ecosystem availability: Limited availability of key infrastructure outside urban centers was cited by 28% of decision-makers.

Education and understanding: 17% said a key barrier is that decision-makers within their business do not understand 5G, while 14% said they don’t know enough about it themselves.

Awareness: Over a fifth of technology buyers (22%) said that 5G implementation is not a current priority for their business.

Cost and complexity: 15% said they were not confident their company would be able to implement the necessary technologies.

Security: Over a third (34%) said that they are concerned about the security of 5G.

A Call To Action

The report identifies three key catalysts for change in order to bring about improved understanding, confidence and ultimately adoption of 5G. These are: improved regulation, collaboration and willingness to innovate.

A third of technology buyers said that government investment in infrastructure or subsidies to drive down costs would encourage them to invest more in 5G. Enterprises will not adopt 5G unless the supply from network operators is presented and priced appropriately, which in turn relies on governments and regulators making 5G spectrum in low, mid and high bands available and affordable.
The lack of understanding that exists within some businesses around 5G must be directly addressed. Companies and consumers alike need more information about the technology and how it can both improve operations and solve real world problems, ranging from enterprise use cases to telehealth to green technology.
As companies better understand 5G, they must boldly move to overhaul their operations to accommodate it, for example, exploring how they could use 5G to streamline and more effectively monitor their mobile workforce, fleet or supply chain.

Source: https://businessmetricsng.com/5g-to-add-8trn-to-global-gdp-by-2030/

The International Monetary Fund (IMF) has projected that Nigeria’s economy will contract by 4.3 per cent in 2020.

It disclosed this in its World Economic Outlook report for October 2020 which was released on Tuesday.

The IMF had earlier in April predicted a 3.4 per cent contraction of the economy. It also predicted 5.4 per cent contraction in June.

It however projected that the economy would recover by 1.7 per cent in 2021.


According to the report, global growth was projected to contract by 4.4 per cent in 2020, a less severe contraction than forecast in the June 2020 World Economic Outlook Update.

The revision reflected better-than anticipated second quarter Gross Domestic Product outturns, mostly in advanced economies, where activity began to improve sooner than expected after lockdowns were scaled back in May and June, as well as indicators of a stronger recovery in the third quarter.

It stated, “Global growth is projected at 5.2 per cent in 2021, a little lower than in the June 2020 WEO Update, reflecting the more moderate downturn projected for 2020 and consistent with expectations of persistent social distancing.

“Following the contraction in 2020 and recovery in 2021, the level of global GDP in 2021 is expected to be a modest 0.6 per cent above that of 2019.

“The growth projections imply wide negative output gaps and elevated unemployment rates this year and in 2021 across both advanced and emerging market economies.

“After the rebound in 2021, global growth is expected to gradually slow to about 3.5 per cent into the medium term.”

The IMF said this implied only limited progress toward catching up to the path of economic activity for 2020–25 projected before the pandemic for both advanced and emerging market and developing economies

Source: https://businessmetricsng.com/imf-downgrades-nigerias-economic-outlook-projects-4-3-contraction-in-2020/

The Federal Government has secured a $350 million intervention fund from the Africa Development Bank (AfDB) for power sector just as the sale of three power assets near completion.

A document of the Ministry of Power sighted at the weekend, which showed this, added that the stations slated for sale included the Afam Power Station and the Afam Three Fast Power as well as the re-privatisation of the Yola Electricity Distribution Company (YEDC) to boost current efforts aimed at providing reliable power supply in the country.

“The AfDB has signaled an intention to advance the sum of $350 million facility to fund the first phase of the programme with the possibility of doubling the amount for the second phase.

“In addition, the Federal Government is in the process of concluding two power sector privatisation transactions: the privatisation of Afam Power Plc and Afam Three Fast Power Limited and the re-privatisation of the Yola Disco. “Afam, with an installed capacity of 970 MW, will immediately add 240 MW to the grid and this will be wrapped up over time,” the document read.

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Meanwhile, international oil companies and local players in the nation’s oil and gas industry flared natural gas worth an estimated N114.79bn from January to July this year. The companies produced 1.64 trillion standard cubic feet of gas in the seven-month period but flared 119.24 billion scf.

They wasted 19.95 billion scf of gas in January; 18.27 billion scf in February; 19.71 billion scf in March; and 17.90 billion scf in April, according to data obtained from the Nigerian National Petroleum Corporation. A total of 15.07 billion scf was flared in May; 14.19 billion scf in June, and 14.15 billion scf in July, the NNPC data showed.

With the price of natural gas put at $2.54 per 1,000scf as of Wednesday, the 90.9 billion scf flared translates to an estimated loss of $302.87m or N114.79bn (using the official exchange rate of N379/dollar). The NNPC said a total of 235.72 billion scf of gas was supplied in July, out of which 150.97 billion scf was commercialised. It said 35.26 billion scf was supplied to the domestic market while 115.71 billion scf was exported.

“This implies that 64.05 per cent of the average daily gas produced was commercialised while the balance of 35.95 per cent was reinjected, used as upstream fuel gas or flared,” the corporation added.

The Federal Government had earlier said that gas flare penalty payment by oil and gas companies in the country would increase to N103.51bn this year.



The Director-General, Budget Office of the Federation, Ben Akabueze, said government would ‘tighten implementation of the 2018 revised gas flare penalty payment regime (resulting in upward revision of gas flare penalty for 2020 from N44.7bn to N103.51bn).’

According to the revised payment regime for gas flaring, oil firms producing 10,000 barrels of oil or more per day will pay $2 per 1,000 standard cubic feet of gas, compared to N10 per 1,000 scf in the past.

Firms producing less than 10,000 barrels of oil per day will pay a gas flare penalty of $0.5 per 1,000 scf. The Department of Petroleum Resources said in February that it had shortlisted 200 investors to bid for gas flare sites after the evaluation of statements of qualification submitted by interested companies.

The DPR said 45 gas flare sites would be put up for auction in the first phase of the Nigerian Gas Flare Commercialisation Programme. The agency said in June that that programme had been delayed by the COVID-19 pandemic as bidders needed access to the flare points.

Approved in October 2016, the NGFCP was designed as the strategy to implement the policy objectives of the government for the elimination of gas flares from Nigeria’s oil and gas fields in the near term of between two and three years, with potentially enormous multiplier and development outcomes for Nigeria.

Source: https://businessmetricsng.com/fg-secures-afdbs-350m-for-power-intervention/

President Muhammadu Buhari, on Monday assured former Minister of Finance and Economy, Ngozi Okonjo-Iweala, that he would do all within his power to ensure that she became the Director-General of World Trade Organisation (WTO).

According to a statement by his senior special assistant on media and publicity, Garba Shehu, the President made the promise while receiving Okonjo-Iweala at the Presidential Villa, Abuja.

The statement was titled “We’ll push, push until you win, President Buhari assures Okonjo-Iweala.”

The former minister and South Korea’s Yoo Myung-Hee are the two remaining candidates contesting for the top position of the multilateral institution.

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According to the statement, Buhari told the former minister that she deserves more support to get the top job because of her profile and diligence in serving the country and the world.

“I assure you that we will do all that we can to ensure that you emerge as the Director-General of WTO, not only because you are a Nigerian, but because you are a hardworking Nigerian. You deserve this,” the President was quoted as saying.

He was also said to have assured Okonjo-Iweala that he would make more phone calls and send letters to some world leaders for more support.

“I did the same for Dr Akinwunmi Adesina for President of the African Development Bank.

“Both of you served the country under the Peoples Democratic Party. You are both highly qualified. We will continue to support you. I will immediately make those calls,” the President said.

Shehu also quoted Okonjo-Iweala as thanking the President and his ministers, particularly the ministers of Foreign Affairs, and Industry, Trade and Investment for supporting her staunchly.

“I feel very proud of Nigeria. I am getting so much support from you, Mr President, Chief of Staff, Ministers of Foreign Affairs and Ministers of Industry, Trade and Investments. The ministers have been working around the clock to ensure that I succeed,” she was quoted as saying.

The former Minister of Finance also appreciated ECOWAS leaders for their endorsement, mentioning in particular the outstanding contributions of President Mahamadou Issoufou of Niger Republic and immediate past Chairman of ECOWAS as well as President Alhassan Quattara of Cote d’Ivoire.

Source: https://businessmetricsng.com/buhari-to-iweala-well-push-until-you-clinch-wto-job/

The Credit Bureau Association of Nigeria (CBAN) in collaboration with MSME Africa Online will be hosting the first edition of their jointly organized MSME Business Webinar Series.

The webinar themed: “The Role of Credit Bureaus in Business Recovery and Sustainability” is slated for Thursday, October 15, 2020 at 11am.

Accoding to press conference from the organizers, speakers at the webinar are include ‘Tunde Popoola: MD/CEO, CRC Credit Bureau; Mrs. JameelahSharrieff – Ayedun: MD/CEO, CreditRegistry, while the discussions will be moderated by Onome O. Ako, executive secretary of CBAN.

“The conveners of the webinar are Mr. Seye Olurotimi, Founder, MSME Africa Online and Mr. Oladimeji Peters, the acting MD/CEO, FirstCentral Credit Bureau & CBAN Chairman,” the statement read.

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Commenting on the programme, Seye Olurotimi, founder of MSME Africa said: “This is the first in the series of our jointly organized MSME Business Webinar with the Credit Bureau Association of Nigeria and we are delighted about the collaboration and our partnership with the association.

“MSME Africa is all about empowering, enlightening and building the capacity of MSMEs and we are happy to know we have a partner in CBAN who shares similar passion. These series of webinar will help ensure that MSMEs are equipped with the right knowledge that will help them thrive and grow”

Oladimeji Peters , CBAN chairman remarked that that credit bureaus are very important to the economy as no economy can really thrive without credit.

“If we must recover from the effect of the pandemic and build sustainable businesses, we must embrace the credit culture and of course, the credit bureaus have a frontline role to play.

“We have done some level of awareness campaigns, deploying media in strategic places. We have had a number of conferences, seminars, roadshows and other programs. We have been on radio and television.

“Going forward, we plan to do more in the media, organize more enlightenment sessions and partner with other organizations like MSME Africa Online” Peters concluded.

The Credit Bureau Association of Nigeria (CBAN) was set up in 2012 by the three licensed Credit Bureaus in Nigeria to promote the development and use of credit reporting in Nigeria.

MSME Africa, a multi-faceted resource platform for Micro, Small and Medium Enterprises (MSME) in Africa is a platform for news, opportunities, events, articles and resources for MSMEs, Entrepreneurs and Startups.

The organizer said the event can be joined through a link.

Source: https://www.businessmetricsng.com

The Nigerian Stock Exchange (NSE), the Debt Management Office (DMO) and market analysts have listed some benefits for investors in fixed-income market.

In line with its commitment to further enhance the capacity of capital market players across available asset classes, the NSE hosted a two-day webinar on fixed income at the weekend.

The webinar, which was held in partnership with the Debt Management Office and CSL Stockbrokers, focused on the dealing member firms and members of the investing public.

Speaking at the webinar, Oscar Onyema, the chief executive officer, NSE said, “The Exchange continues to be the foremost platform creating new types of debt instruments in Nigeria with a market capitalization of about N16.4 trillion.

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“By offering capital raising opportunities and secondary trading to all classes of issuers including sovereign, subnational, corporates and supra-national bonds, the Exchange facilitates the interaction between borrowers and lenders in Nigeria driving efficient allocation of capital.

“With fixed income markets representing one of the largest subset of global financial markets, NSE reiterates its commitment committed to providing a hybrid market for dealers as well as institutional and retail investors to continue to access increased liquidity in fixed income securities.”

Onyema added, “The Exchange continues to deliver on its mandate to not only provide the Nigerian economy with a reliable, multi-asset hub, but to facilitate financial literacy programs that help investors gain an in-depth understanding of opportunities in various asset classes.

“Through frequent communications across its touchpoints and engagements such as this webinar, the Exchange is working assiduously to ensure that investors understand the characteristics of various securities and how they are issued or traded to maximize their benefits.”

On her part, Patience Oniha, the director-general, DMO, expressed her delight to partner with NSE on the webinar.

She said, “While we have always had the money market and the capital market, the fixed income market has also grown to become active today with capital raising from government, corporates and multilaterals.

“This shows that our market is capable of attracting both domestic and international players for the overall good of the economy. In meeting our objectives at financing the budget and deepening capital market activity, we remain committed to using the fixed income platform to support various aspects of the economy.

“We will also remain responsive to investors’ needs for portfolio diversification by expanding our fixed income market with more sophisticated debt instruments.”

The webinar also featured a presentation from Olakayode Olayemi, an equity analyst at CSL Stockbrokers, who took participants through the fundamentals of fixed income trading.

He highlighted both the primary and secondary market activities, as well as the investment opportunities and benefits available for investors in the NSE debt market.

https://businessmetricsng.com/how-nses-n16-4trn-debt-market-can-benefit-investors/

Inflation will maintain its upward trajectory and increase to 14 per cent for the month of September, from the 13.22 per cent recorded in August, Financial Derivatives Company (FDC) has predicted.

The Chief Executive Officer, FDC, Mr. Bismarck Rewane, who made the forecast at the Lagos Business School (LBS) Executive Breakfast Session, presentation for October 2020, obtained by Business Metrics on Sunday, said he also expected inflation to further rise to 15 per cent in October, adding that inflation in 2020 could rise beyond the Central Bank of Nigeria’s (CBN) 14.5 per cent projection.

According to the financial expert, the “food sub-index will remain the major culprit,” among the inflation components. He identified factors that stoked inflation in September to include “higher Premium Motor Spirit (PMS) price, electricity tariff hike, money supply growth and exchange rate blended pass through forex at N430-N440/$.”

Last Wednesday, the Lagos Chamber of Commerce and Industry (LCCI) predicted that inflation would maintain an upward trajectory for the rest of 2020, a development, the chamber said, would have serious implications for businesses regarding production cost, investment real return date and overall economic performance.

The LCCI President, Toki Mabogunje, said the major drivers of inflation were structural factors, which are beyond the purview and control of the monetary authorities.

She noted that the combination of food supply shocks, foreign exchange restrictions on food and fertiliser imports, higher energy cost electricity and petrol, exchange rate adjustment, poor infrastructure, and insecurity in major food-producing states would pressurise domestic price level in the near term.

In its last Consumer Price Index (CPI) and inflation report, the National Bureau of Statistics (NBS), which is slated to release its September report on Thursday, said that Nigeria’s inflation increased for the twelfth consecutive month to hit 13.22 per cent in August, 2020, from 12.82 per cent, in the previous month.

It was the highest increase recorded since October 2016 as well as highest inflation rate since April 2018.

Source: https://businessmetricsng.com/fdc-analysts-forecast-14-inflation-rate-for-september/

OK, I hope Anambra is rich enough to finish the project


Please read
https://www.nairaland.com/6168520/indigenous-digital-marketing-firm-train#94739766

Harlong DigiTech, an indegeneous digital marketing firm has perfected plan to train one thousand youths and small business owners on acquisition of relevant digital skills.

The training, which, according to the organiser, will run over a five-month period for different batches, is conceived as a way of injecting innovations into small businesses especially after the disruption triggered by coronavirus pandemic that has affected the survival of micro, small and medium enterprises (MSMEs) in the country.

In a press statement, David Alonge, Team Lead at Harlong DigiTech, said the digital skill training which will run in tranches of 200 monthly participants, is set to impact digital marketing knowledge that will enable participants earn income from the comfort of their home.

According to him, Alonge emphasised that the purpose of the training is to cushion the effect of the pandemic by empowering the youths and small business owners across the country with required skills that can help them boost their productivity and acquaint them with digital kneledy that will help them generate extra income for themselves from anywhere in Nigeria.

"We understand that the pandemic has negatively affected the sources of income of most Nigerians, especially our young ones and rendered many jobless. Reasons we develop this digital marketing training to empower over a thousand youths and small business owners gaining the required skills to boost their hustle online and earn from the comfort of their home.

"Since the pandemic has encouraged many people and organization to familiarize themselves with working from home, we believe our youths and entrepreneurs should also be adequately equipped with the needed digital skill to earn from home or anywhere", Alonge stated

He further explained that the digital skill training for the month of October which was tagged 'Skill Up for Employability' will commence from Tuesday, 20th to Saturday, 24th of October, 2020, adding that it is expected to train over 200 participants across the country.

On the benefits of the training, Alonge stated that "the October training will enable participants to stand a chance to compete in the labour market for those who are seeking employment, monetize each of their digital skills using their mobile phone and the internet, access various tools that will ease their work, ebooks for further learning and access to mentoring sessions with the organizer's team."

"Interested participants are set to register by clicking on this link for the Harlong Digitech SkillUp Training (https:///HDRegistration) to fill the required details," the statement concluded.

Source: https://businessmetricsng.com/indigenous-digital-marketing-firm-to-train-youths-on-emerging-digital-skills/

Get to know the jobs that might not exist in 20 years
https://www.nairaland.com/4899713/10-jobs-might-not-exist#73774766

Get to know the jobs that might not exist in 20 years
https://www.nairaland.com/4899713/10-jobs-might-not-exist#73774766

Due to the disruptive innovations and technological advancement, experts believe that some jobs will be better handled by machines in the near future.

The improvement in Artificial Intelligence(AI) which is said to be fifth generation of computer is a major threats to human resources in workplace.

According to the article I read on inc.com, these jobs are said to be handled by !machine intelligence in the nearest future.

I have just highlighted them for discussion

Cashier

Newspaper delivery

Travel Agents

Taxi Dispatcher

Taxi Driver

Journalist

Social media 'expert'

Telemarketer

Assembly Line Worker

Referee

My question: Do you really believe these jobs can better be handled by machines?

@harlongdigitech
Source @Inc


Click the link below to read more
https://www.inc.com/geoffrey-james/10-jobs-that-maybe-wont-exist-in-20-years.html?cid=sf01001&sr_share=twitter
Lottola

Mogidi:
Nice article

Thanks sir

Dear President Muhammadu Buhari,

I am airing my agitation in regrets and disappointment in you for the speech made in London to demarket the larger percentage of your workforce, the youth, in the face of international community.

Mr. President, for the past three years of your administration, you have been making comments in disadvantage to the national interest, zeal and vision toward development in various international settings; this last one broke the camel back, saying our uneducated youths, sit down and doing nothing but expect the dividend of democracy from the national cake.

Your assertion could have been right if your government have provided 24 hours power supply as you promised during your campaigns, enabling environment for small and medium enterprises to thrive, single digit interest rate for loans in commercial banks, qualitative education system that encourages the youth to be innovative, research and technical supports among numerous others. But all what should be provided by the government were thrown into blame games to the past administration and now to the youths. It’s a pity this is what we signed up for.

First of all, what is the relationship between the question asked and your response? Sir, you were asked to give final comment to your interview which the concluding point could have been an avenue to water the appetite of investors in acting against their doubt about Nigeria, not a statement that will tell the investors that when you come to invest in Nigeria, understand that the larger percentage of our youths are uneducated, they will sit down and do nothing but expect the government to give them housing, healthcare and education. It is insult to the youth seeing the numero uno citizen denouncing them even when they have shown him supports and love during his trying times.

Remember the youths gave you their total supports even when they knew you didn’t have school certificate result when there is an opportunity cost of a doctoral candidate. Mr. President sir, we never blamed you for spending over 30 years after your first reign as the head of state for not advancing beyond secondary school certification as you claimed to have, we didn’t condemn you for not building your business beyond the shore like your other colleagues has done which has helped in creating employment opportunities for several youths. The youths never accused you of wrong doing even though you don’t have any foundation, support group or humanitarian programme in your name even when you are capable of doing so. For all our supports and love, your statement in Commonwealth is what we get in return sir, thank you.

Before ending my note to you sir, I will acknowledge the efforts of the ‘lazy’ youths who have been hustling in the draconian system of Nigeria but you failed to mention them in the statement. Mr. President, let me introduce to you Seun Osewa, the founder of Nairaland.com, the largest online forum in Africa, he is the master of lazy youths association sir. Yomi casual, the Lagos based stylist whose designs have gone international, he is also parts of the lazy youth sir; Wale Yusuf of Techpoint, the online tech hub who rise from being a security guard to being one of the top tech guys in Nigeria, he is very lazy youth; Linda Ikeji, Africa no 1 female blogger, she is leading the laziness class sir; Iyinola Aboyeji of Andela to Bosun Tijani and Femi Longe of CcHub, those guyz that Mark Zuckerberg of Facebook came to visit the other day, hope you remember now, they are the class representative of lazy youths; Sowore of Sahara reporter, that one is very very lazy sir. In short, the Super Eagles, the Nollywood star, the young Engineers, the Mechanics, the developers, the young Architect, the guyz in the street hustling, the computer village guyz, the Alaba guyz, the young ladies in Eko Idumota and Oshodi, the roadside traders… we are all lazy sir.

Finally Mr President, I think it is right for you to apologize publicly to the youths in Nigeria on local, national and international platforms for the statement made to belittle their efforts, zeal, goals and visions of the young generation to connect with the national aspiration and development. Failure to do this will surely have detrimental effect in the nearest future. Thank You

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lailo:
Amosun sighted non-availability of fund a reason to want to scrap TASUED but was prevailed upon.Now same gov wants to add more university to d state.I see dis a reason he wanted to scrap TASUED in d first place,so as to pave way for d establishment of this new university in Egba Land,deleting those of Ijebu Land.Btw Egba and Ijebu,Ija sese bere niooooo.Na u first start am.

lailo:
Amosun sighted non-availability of fund a reason to want to scrap TASUED but was prevailed upon.Now same gov wants to add more university to d state.I see dis a reason he wanted to scrap TASUED in d first place,so as to pave way for d establishment of this new university in Egba Land,deleting those of Ijebu Land.Btw Egba and Ijebu,Ija sese bere niooooo.Na u first start am.

:-) Lol

taiwo3489:
Oro jatijati, wat shld yabatech now say... Ode omo, whr mapoly dey wen dem dey rank poly's... Av u 4gotten Yabatech, Auchi poly...

#B4 u come for my head...am an akokaite(unilag)

Oga, Yabatech is living on old Glory Joh! you know how it takes evaluating to finish your HND programme in the school and the management have destroy the pride og the former first institution. speaking from experience

michaelwilli:
I sometimes do not understand the motive behind converting a polytechnic to a university because in real sense, they have different purposes. Universities have Profs as VCs while poly has a Doctor as a rector, there is a deficiency, even though the amount o books you have read doesnt determine the sense in ur head
Most poly lecturers dont even have masters, some are lecturing with B.sc, when you can't even lecture at a university with a B.sc except maybe as graduate assistant.
What should be done is that the standard of education and quality of instruction at this institutions be improvd, not conversion from one form to another. Befor i got admission into the poly, i heard that poly does practical well, but in my department, reverse was the case and many other departments i know of. An HP proliant server that costs millions of naira is left to gather dust in my department, switches and routers we should have used for networking practical are still inside their packaging.
The issue now is not facility, but instructors who have the technical know how to use this facilities to train students.
Other forms of improving our education should be sought, not conversion of one institution to another.

Let me try to inform you on Mapoly first because I can see that you haven't done a background research of the school before this comment. MAPOLY is one of the Foremost Poly with Professor [/b]as the Rector of the school. [b] Most of the HoDs in all department are either PHd holder or PHd in view, the departments in the school are well equipped more than most universities in the country; and the school has been independently run for over 6 years now through its IGR. Mapoly has been long due to be have become university. It's a welcome development for the State and the govt of the day.

As we all know that the internet has become part and parcel of businesses in this contemporary age; both in SMEs and large organizations. At the same time, we cannot over emphasis the billions of dollars that was spent on various digital marketing ranging from content marketing to online ads, SEOs to mention few. Various strategies were employed by organizations to get their content/message across to the teaming online users both home and abroad.

No time, the year will end and we shall be running another 365 days; another action plans will emerge with new digital marketing strategies and techniques. I therefore created this blog to exchange ideas and discuss on various digital marketing you think will surface in the coming year.

Let's rub minds together....

What digital marketing strategies will trend in 2017?

Many internet users and brands have various reasons why they use twitter but not all can attest to yielding result with the platform. Twitter, which has over 300m active users per month, is one of the major social media that has aided many businesses and brands to communicate, educate and disseminate information to their customers and followers.

Brands of various sectors, ranging from news networks(@channels24_uk) to banking (@GTbank), information and communication technology(@Huntelladotnet), government(@NGRSenate) among others, are all on twitter to build, spread, communicate and develop the its products, services and events.

The secret of this social media rest in the ability to convey a complete thought, idea or information in 140 characters or it sequence. The techniques are what brands need to know to build their effective performance and gaining more followers on this platform.

Today, I will be sharing 6 reasons you need to leverage on twitter to help build your brand and business in your digital marketing strategy.

<6 Reasons why you need to use twitter to build your business and brand>

#1 Reason – For Information: Information drive this contemporary age. If you are not inform, you are automatic deform and would not be able to meet up with the competitors’ pace in your market. Twitter is one of the foremost social media platforms that have millions of information rolling per second. For your business to grow, you need information that will enhance your brand performance and also need to create information that will also help your followers. Your customers also need to get informed day by day. They need to know the latest on your product and services, facts in the sector of your business, news and live information etc. Information must be a continuous flowing process for a brand or business success which twitter as a social media can help you to execute.

#2 Reason – To Follow up with Trends: Do you need to create brand awareness beyond your followers and clients? <The proper use of trends > will help you to accomplish that. Trends are most discussed issue, event, topic or subject matter that are tweeted at a particular point in time which can be #Hashtagged or in phrase. You need to grow your brand and business with the proper use of #Hashtag to create trends on twitter is needed. Let the tweeps knows about your latest happening through #Hashtag, discuss in trending issue, build a trend with a particular goal… it helps to carry your brand to the next level which might also influenced your customer based positively. You can also partner with some influencers to help you out.

#3 Reason – To Create Feedback: Top Brands of the world use the twitter to create a responsive feedback to their customers and clients. I know of a bank in Nigeria that performs its customer service using twitter. For your business to grow feedback is needed from your customers to help you better performance and outcome, hence, you need to use this social media as one of the easiest means to get a feedback from the followers. Throw a question about your service to get feedbacks, it can also be inform creating a particular time or day to answer the FAQs from customers, hear their views on latest product, respond to their complains among others

#4 Reason – For News: Twitter has been the very first platform for news break among other social media platforms. In short, the social media has been perceived as the home for news break, which enables people to be attached to the platform as they either help to create the news or spread it. One reason why you need twitter is to build your brands around latest news and events in your market. It is also beneficial when you Retweet, Quotes or Reply to the news break as it will help your followers to also get inform, thereby, creating an trustworthy and authoritative image to your customers and followers online.

#5 Reason – To drive traffic: One of the major motivations to online strategies is gaining traffic with your content(s). When building your brand or business online, one of the purposes most people want to achieve is generating a lead and converting them into customers which makes twitter a pivotal tool to be use to drive traffic to your website.

#4 Reason – For Brand Development: If all tips are use properly, they all contribute to the development of your brand. The use of twitter for business is to create an outlook and perspective for your organization, products and services. It enables brands to show how they want their followers to see them, to feel the personality in the brand, the service they offer and brand awareness.



However, the reasons above are few of the numerous reasons why brands use this platform. Let’s here the reason why you use twitter for your brand and business.

Source: http:///2cc87YO Harlong Digitech Solution (ICT Training/Digital Marketing & Strategic Planning Org)