Sunday, 12 March 2017
Thursday, 9 March 2017
Benefits of manufacturing and equipment expo Nigeria 2017’
Rabi Jammal
Rabi Jammal has been working with JMG since 2002. After a stellar career with extraordinary feats in each step, he is currently the Group GM Sales and Operations leading the ongoing diversification strategy.
Can you provide us with background details of your organisation, highlighting your major services?
JMG is a leading company in Africa providing solutions in power generation, electrical infrastructure, industrial equipments and elevators and escalators. Having at its core, consumer interest, JMG has almost 1600 passionate professionals working to deliver high quality products and guaranteed services, all in a very short period of time.
What excites you about working in the West African region?
JMG recently expanded operations in Africa and the most exciting thing about working in the West African region is the numerous untapped potential of the region. The vibrancy and energy of the people will excite any businessman.
What are you most looking forward to at this year’s Expo?
We are interested in innovative ideas and solutions of how the manufacturing sector can partner both internally and externally to tackle the recent economic challenges.
What technology and services are you most excited about at the moment?
Our commitment is to continue exploring opportunities that add value to all stakeholders, especially in African developing markets.
Will you display any specific equipment and technology?
While we will be talking about our diversified solutions such as our diesel and gas generators, lighting and wiring solutions, etc. Major focus will be on our air compressor solution systems.
What are the key challenges experienced in the equipment and manufacturing sector of the company?
The major challenge stems from the ongoing financial/economic situation of the country. In this environment, we are expected to offer win-win solutions to our customers by minimizing the cost impact to them, increasing their efficiency and ROI.
How do you think these can be resolved?
Key into all these are enhanced partnerships with world class suppliers and a continuous effort to increase the Nigerian value content into our offered solutions.
What is the key message you would like to emphasise at the Expo this year?
The key message of JMG will be building partnerships that will result in improving efficiency and ROI.
Do you have anything more to add?
All activities of JMG as an organization show a renewed commitment in supporting the Nigerian customers and economy. This commitment also extends to other African markets where we work to ensure success in expanding operations and developing markets.
Vía The Guardian Nigeria http://ift.tt/2mplmYg
Australian firm says Senegal oilfield could start earlier than expected
Australia’s FAR Ltd, a partner in an oilfield off Senegal, on Thursday said the project could start producing before 2021, earlier than previously touted, and at a higher rate than flagged before.
Operator Cairn Energy Plc and FAR released updates this week following drilling on their latest well, SNE-5, which will help the companies and their new partner, Woodside Petroleum, delineate reservoirs and finalise how to develop the SNE field.
One of two reservoirs tested yielded a better-than-expected flow of oil, while the other was in line with expectations, said FAR Chief Executive Cath Norman.
“What it means is we can apply a much higher recovery factor to that unit, and that will have an impact on the resources of the field,” she told Reuters in an interview.
The companies expect to come up with a joint estimate of the field’s reserves around June or July, Norman said. FAR currently estimates SNE holds 640 million barrels of proved and probable reserves.
Cairn, FAR and Woodside had all said they expected to start producing some time between 2021 and 2023, using a floating production, storage and offloading (FPSO) vessel.
Norman said the timing of first oil “probably” could be brought forward, but that would depend on the targeted production rate for the field, currently estimated at 100,000 to 120,000 barrels per day by Cairn and 140,000 bpd by FAR.
“There are FPSOs, for example, in abundance coming out of Brazil at the moment,” she said.“If we need to cater for, say, 200,000 barrels of production a day, then we’re going to need to customise them in some way, so it really depends on what the final development concept looks like.”
FAR’s share price has fallen about 30 percent over the past year, with Norman saying the market had failed to recognise the potential of the field.
Cairn Chief Executive Simon Thomson told analysts on Wednesday that the firm was working towards handing over operation of the field to Woodside, which bought out ConocoPhillips’ stake in the project late last year.
Vía The Guardian Nigeria http://ift.tt/2mrukWS
‘How to stabilise Nigeria’s economic environment’
Bukar Kyari
Nigeria’s economic recovery and growth plan seeks to stabilize the country’s macroeconomic environment with low inflation, stable market-reflective exchange rates and sustainable fiscal and external balances by 2020. CNBC Africa’s Wole Famurewa spoke to Bukar Kyari, Chairman, Nigerian Economic Summit Group, about the issue.
What are the biggest take aways from this plan?
Firstly for businesses, the things I feel one should be looking out for in this ERGP are the 5 or 6 principles that were highlighted. If you permit me I’ll quickly go through those. One, focus on tackling constraints to growth and that means the ease of doing business. Two, leverage the power of the power sector. For the first time this government is now saying the private sector needs to be driving things that have to do with the markets and the economy. Previously some analysts have said that this government is cynical about the private sector. Promote national cohesion and social inclusion, that means inclusive growth etcetera etcetera, and allow markets to function.
This where I say, “This is great.” It’s someone talking to the central bank. Because if you say that the government recognises the power of markets to drive optimal market ecosystems then you cannot jump in to control that market and so the currency market hopefully with this sort of document coming from the government we will see a relaxation of the managed float or a true free float, down the road. Of course the last one is upholding core values. etc. etc.
Would you say this does enough to catalyse fresh investment into areas like agriculture? I get the sense that there is a lot of money on the sidelines, but if we do not crack that monetary policy, do you think that we can still move forward given what is going on right now?
I believe that this document is being studied around the world. What we have is that even the $1 billion that was loaned to Nigeria by the ADB, they only gave $600 million because they said Nigeria doesn’t plan. The difference is being kept. Now here is a plan. Now for the plan to become convincing for someone to respond, they have to look at it and then they have to ask questions, and those questions would be answered. And that is where some of these principles would help guide the conversation on is this the right kind of plan or not. And then of course implementation. Because the key to any plan document is how you follow up and follow through. As a nation we have had situations where we had excellent plans but failed to materialise them into impacts on people’s lives. Hopefully this is not going to be one of such.
Moving away from the plan for a brief moment, can you reflect on some the changes we’ve seen in how the central bank is working out this forex policy. Some people are saying we’re seeing a little bit more supply, does it go far enough for you?
For me, what has happened, is that when they injected $360 million or so you saw the strengthening of the naira in the parallel market meaning that if the central bank chooses to play in the parallel market which is basically the free floating of the naira, the naira would strengthen for a sustainable period because it would also encourage others t bring in their dollars. Right now it is not happening. On one side, that experiment made a lot of sense if the central bank were to begin to relax or float the currency in some meaningful way, the market would respond positively. My only concern is that it was only the BTAs and PTAs and School fees and Medical expenses. Those are all consumption products. If it were for buying spare parts and machinery so that it is the manufacturing sector and businesses then we would be encouraging production. Because there is a choice of whether I want to travel on vacation outside the country or go to Calabar or Plateau, or Yankari Game Reserve, or even Sambisa these days. Coming from Borno State, I have to pitch for them. But the thing is that these are still consumptive things. Are we encouraging consumption or are we encouraging production.
There has also been some supply to the broader market. What many people are concerned about is how sustainable the supply is. Because it will be a drain on the foreign reserves especially if oil production doesn’t stay up, or if the oil price falls.
My position hasn’t changed. Three or four weeks ago I mentioned my prescription for the quagmire that we’re in with the foreign exchange market and it’s the Egyptian solution. That is you reach out to the IMF and you get $20 or $30 billion without necessarily touching it because that would be the arsenal for us to fight this battle.
With that you would actually see the strengthening of the naira. The Egyptians floated their currency in November. I was in Egypt at the time, today the Egyptian pound has strengthened by over 15 per cent from November till today. It means that once there is confidence, money starts flowing in. I know a person who had a PE outfit that was raising $40 million or $45 million and he was going from pillar to post not getting anything and the week after the announcement he got commitments of over $80 million from foreign investors, and that’s in Egypt. We can do something similar, and I would bet you that the naira would only strengthen on the parallel market.
In terms of solutions, incidentally this Economic Recovery and Growth Plan speaks to that: Asset sales. Some have suggested that apart from going to the IMF, the federal government can sell some assets and lift the dollar supply as a result of that.
That could be one of the solutions, and I know that it has also been mentioned. The funny one was investing the refineries. I wish they’d just be sold as is to anyone who would come in and fix it over a certain period of time. There has to be some sort of service level agreement between the buyer and the nation so that that contract obligates them to fix the refinery and produce. The other thing is that they may be shy of coming in if they are not sure of how they will repatriate their profits and so on. So we are in a situation where every aspect of our economic future, development or life, is linked to this monetary policy.
Vía The Guardian Nigeria http://ift.tt/2mpgJhd
Tuesday, 7 March 2017
House Committee directs NPA, NIMASA, to clarify forex charges
Forex Exchange
The House of Representatives Adhoc Committee on Review of Pump Price of Petrol last week, directed the Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA) to clarify their charges in foreign currency.
The Chairman of the Committee, Mr Raphael Igbokwe, gave the directive during the Committee’s visit to NPA and NIMASA headquarters in Lagos asking, representatives of both organisations to be present at the Executive briefing in Abuja for clarification.
The guest for clarification followed complaints by operators of wet cargo of their inability to access dollars, leading to deals which have multiple effects on petroleum products pricing.
According to Igbokwe, NPA and NIMASA need to justify why most of their charges are in dollars.
NPA charges are: lease and vessel fees; payment for cargo and shipping dues; payment for provisional bill and concession fees; and payment for pilotage and royalties, while NIMASA charges three per cent freight bench mark.
Igbokwe said that among the challenges faced by the shipping companies was that Nigerian waters were not deep enough to accommodate bigger vessels, which are diverted outside the country
He said the inability of NPA to create room for mother vessels to berth petroleum products had lead to midstream discharge, illegal bunkering and malpractices, which provided opportunities for some operators to be short-change the government.
“There is need for NIMASA to improve on security of Nigerian waterways to enable more vessels and bigger ones to berth at the port,’’ Igbokwe said.
He argued that if bigger vessels containing petroleum products berth at the ports, if would stop operators of ship- to-ship discharge; from discharging in accurate quantity to the supplier or marketers in the supply chain.
“We are looking at NIMASA and NPA to reconcile some charges they made in dollars; to stop the increase in price of dollars as well as offshore discharge.
Vía The Guardian Nigeria http://ift.tt/2m0yOkx
Okorocha greets, lauds wife for mobilisation
Rochas Okorocha
Governor Rochas Okorocha of Imo State has applauded women for their pivotal role towards peace building and maintenance in the country and the world at large.
He gave the applause in a statement signed yesterday in Owerri by his Chief Press Secretary, Sam Owuemeodo.
The governor also greeted his wife, Nkechi, for her efforts in mobilising women for participation in government.
‘’As women all over the world mark the International Women’s Day on Wednesday, March 8, 2017, the Governor, Owelle Rochas Okorocha, has extended his heartfelt goodwill wishes to the women in the state in particular and Nigerian women in general.
‘’The governor remarked that women deserve to be celebrated for their outstanding role in preaching, pursuing and ensuring peace both in the state, Nigeria and beyond,’’ the statement read in part.
Vía The Guardian Nigeria http://ift.tt/2lCnm2z
Yemi Osinbajo opens Lagos-Kano rail project, to create 500,000 jobs
• Saraki, Ambode, Amaechi, Ashafa, Akiolu task contractors
Acting President Yemi Osinbajo yesterday inaugurated the Lagos end of the Lagos-Ibadan-Kano railway project, promising that it would be delivered on or before December 2018.
Osinbajo expressed optimism that the plan would overhaul the country’s economy, provide half a million jobs and support industrialisation agenda.
He said negotiations on the Kaduna-Kano section of the project had been completed, with government providing its part of the fund for the Lagos-Calabar route and expecting the completion of negotiations with the foreign partner in the next three months.
According to the acting president, “We are confident that the national rail project will create up to half a million jobs and facilitate the movement of over 3.2 million tons of cargo per annum. It will also reduce the burden on national highways, thus reducing deterioration of the road networks.”
Lagos State Governor Akinwunmi Ambode maintained that the rail project would open up the economy of the south west, boost agriculture, as it would be easy to transport farm produce from the hinterland to the cities.
Ambode said that productive man-hours would no longer be wasted on roads when the rail project is completed.
Senate President Bukola Saraki lamented the collapse of the rail system in the country, pledging that the current administration would reverse the situation.
Represented by the Chief Whip, Senator Olusola Adeyeye, he expressed optimism that the project would not be abandoned, promising that the Senate would see it to its completion.
Minister of Transportation, Rotimi Amaechi said the project, which would be extended to the Lagos Seaport complex in Apapa would significantly boost the import and export business.
Amaechi said the rail line would soon be extended to Ilorin, Minna, Kaduna and Kano in no time with a link to Abuja and Ekiti.
Chairman, Senate Committee on Land Transport, Gbenga Ashafa advised Nigerian universities to immediately commence the training of rail infrastructure engineers to address skill shortfall in the sector.
The Oba of Lagos, Rilwan Akiolu urged the Chinese contractor company to bring competent professionals to the country to be able to do a good job.
The monarch lambasted organisers of the event for starting two hours late.
Vía The Guardian Nigeria http://ift.tt/2m0u91T
Pensioners give Delta State government ultimatum to pay pension, gratuities
pension
Retired civil servants in Delta State have given the state government a 21-day ultimatum to pay them their pensions and gratuities.
Some of the pensioners told The Guardian that they could no longer pay their children’s school fees or meet other domestic obligations due to the accumulated debt.
According to one of them, six pensioners had died in the last few months, while over 20 are currently hospitalised due to the biting effects of the unpaid pensions and gratuities.
The state Chairman of the Nigeria Union of Pensioners, Robert Nwanze, has, however, lauded the Pension Transitional Arrangement Directorate (PTAD) for taking the verification of pensioners to homes and hospitals.
He said: “Taking the verification to the sick and the incapacitated in their homes and hospitals for their biometrics to be captured is commendable.
“Many of our members have died as a result of hunger, while others who are critically sick are unable to afford treatment at hospitals. We need our pensions and gratuities to be promptly paid so that we can attend to our needs.”
A chieftain of the All Progressives Congress Party (APC) in the state, Frankly Okoh, said the excuse of pipeline vandalisation and poor economy, which was given by Governor Ifeanyi Okowa for not paying the arrears, was not tenable.
The Guardian learnt that pensioners in the 25 local council areas had met last week to take a common position on the matter.
Vía The Guardian Nigeria http://ift.tt/2lCnD5k
Sunday, 26 February 2017
Oyo Assembly moves to amend survey law
Oyo State House Assembly. PHOTO: NAJEEM RAHEEM
Following the continued proliferation of fake survey plans, Oyo State House Committee on Lands, Housing and Survey is proposing a bill to amend the state’s survey law.
The chairman of the committee, Peter Oyetunji said lack of appropriate law has led to reduction in the state’s revenue and reduction in the lodgment of record copy of survey plan at the Office of Surveyor-General.
According to him, the Committee instituted to interact with relevant Ministries Departments and Agencies (MDAs) on the issue met with the Office of Surveyor-General and reported that lack of concerted efforts by relevant MDAs to educate members of the public on the danger of fake survey plans on any development was one of the contributory factor to the menace in the state.
The lawmaker representing Ogo-Oluwa and Surulere Constituency in the House, also noted “the uncooperative attitudes of relevant MDAs and professional bodies to comply with provision of the survey law.
The survey law, he said, mandated town planners or officers whose duty is to approve building and development plan to ensure that the survey plans attached are verified at the Office of the Survey-General.
The committee affirmed that inadequate professional staff within the office of Surveyor-General and the 33 councils to enforce the relevant provision of Survey law has created a lacuna that affects the state’s revenue generation drive.
It further called on users of survey plan in the state whose duty is to secure approval of building plans to ensure verification of their survey plans at the Office of Surveyor -General.
‘The state government should employ more professionals in the office of Surveyor General and the local councils in the state for more effective and efficient service delivery”, the committee stated.
Vía The Guardian Nigeria http://ift.tt/2loXnHp
Assemblies of God members fight over church property
Chidi Okoroafor
The crisis that engulfed the Assemblies of God Church Nigeria in the past three years appears not to be over despite the Supreme Court ruling.
Yesterday, members of the church loyal to the two leaders, Rev Paul Emeka and Rev. Chidi Okoroafor in various branches in Enugu who converged for Sunday worship could not do so following contentions that arose among them over the “rightful’’ group to possess the church property.
While those loyal to Emeka had claimed that the Supreme Court in her judgment last Friday in the suit filed by him (Emeka) declined to remove him as the General Superintendent, those loyal to Okoroafor insisted that he (Okoroafor) remains the ‘authentic’ general superintendent of the church, since the apex court struck out Emeka’s suit challenging his removal.
It took the intervention of the police in Enugu yesterday for normalcy to be restored in some branches of the church as members struggled to take possession of the church buildings and other property.
At the New Haven branch of the church, the police had locked out the worshippers, as members had engaged in a free for all. The police it was gathered have however invited the leaders and lawyers of both factions today for talks on ways of resolving the impasse.
On Friday, the police had sealed off the national secretariat of the church on Independence layout, Enugu, occupied by Emeka to forestall break down of law and order. It was later learnt that the police reopened the premises to Emeka, apparently following the apex court decision.
Emeka in his reaction claimed that the Supreme Court ruling neither removed him nor pronounced anybody as the General Superintendent of the church, stressing that the action of the Okoroafor group was uncalled for.
He stated that the fact that his suit at the Supreme Court was “struck out” does not mean that the matter was over, stressing that the court did not go into the issues under contention based on what it observed as the wrong manner in which the matter was brought.
But Okoroafor, who addressed newsmen shortly after his return from South Africa, extended an olive branch to the warring factions, saying that there was no victor no vanquished.
He stated that the leadership of the church will be meeting to look at the judgment and afterwards roll out the next plan, adding that the church “is a special church with a unique mission.’’
Vía The Guardian Nigeria http://ift.tt/2lVxh1V
ITF national level one coaches’ course berths in Port Harcourt
More Nigerian tennis coaches are set to be certified by the world governing body, International Tennis Federation (ITF), which will organise a National Level 1 Coaches Course in Port Harcourt from March 1 to 9. The course will hold at the boardroom of the Port Harcourt Club, Old GRA.
The programme, which is expected to attract dozens of coaches from states’ sports councils, higher educational institutions, as well as public and private clubs, is coming less than a month after it was held in Lagos where about 40 Nigerian coaches and two Ghanaians were certified.
A board member of the Nigeria Tennis Federation (NTF), Isaac Uzoma, who is sponsoring the programme, said the need to have the programme in the South South zone is important due to the dearth of professional tennis coaches in Nigeria despite the popularity of the sport.
He stated that some of the coaches in the zone, which he is representing in the Federation, were unable to attend the one held in Lagos hence he has decided to bring it to their doorstep. He also noted that this would be the first time such a course would be held in Rivers State
“We have lots of good coaches here in the South South zone but we know that sports keep evolving and we can’t be left out of modern-day techniques regarding the coaching aspect of the game. This is my way of appreciating the zone for giving me the chance to represent them at the board,” he said.
Uzoma, who is also the chairman of the Rivers State Tennis Association, said the programme would be conducted by Nigeria’s ITF Instructor, Rotimi Akinloye, adding that it is designed to update Nigerian coaches with the current coaching methodology.
Vía The Guardian Nigeria http://ift.tt/2mtG0X4
Thursday, 23 February 2017
NACCIMA unveils foundation of N1.5b trade promotion centre (Read full details)
The National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has unveiled the foundation of a N1.5 billion trade and investment promotion centre in Abuja.
When completed, it would serve as a hub for Micro, Small and Medium Enterprises (MSMEs) to boost their businesses and seek government intervention.
The Minister of the Federal Capital Territory (FCT), Mohammed Bello at the unveiling yesterday charged the association to support efforts by the Federal Government to revive the economy.
He pledged government’s continued support to the sector through provision of infrastructures and other incentives to boost production.
The National President of NACCIMA, Dr. Bassey Edem, urged the government to ensure early passage of the 2017 appropriation bill to encourage foreign direct investments into the country.
Vía Uzomedia http://ift.tt/2lxmUB0
Tuesday, 21 February 2017
Catholic church restates call for return of schools to original owners (Read full details)
Church
For the umpteenth time, the Catholic Church has lamented the falling standard of education in the country and restated calls for the handing over of schools to their original owners.
The group noted that prior to the taking over of the schools by the government in the mid 70s, the educational system was doing well and maintained that the only panacea to address the trend was for the government to let go.
Rising from the National Conference of the National Association of Catholic Directors, Secretaries of Education (NACDDED) in Calabar, the National Chairman, Rev. Fr. Richard Omolade declared that the collapse of discipline at all levels of our national life coupled with the utter decay in our society was due to the maladjustment in the nation’s educational system when government took over and the focus shifted to conveyor belt system of mass production instead of quality”.
The three-day conference which had as its theme Catholic Education: Yesterday, Today and Tomorrow – The Way Forward was hosted by the Metropolitan Archbishop of the Calabar Archdiocese, Most Rev Joseph Ekuwem.
The Association said Catholic education must also strive to preserve her identity as a faith based educational enterprise.
In its 11-point communique, the church frowned at government policies that tend to lump everybody together, demanding uniformity, which they said precludes creativity and uniqueness.
“Catholic education today must be structured as to prepare people not just for now, but for the future. Critical thinking skills must be an integral part of that education such that our students are helped to think critically and problems can be solved in their unique varieties.”
Vía Uzomedia http://ift.tt/2llvTFg
Akunebu, Kaze, Okere kick-start Abuja literary season…Read full details
Kaze
Uche Akunebu, Doug Kaze and Nnaemeka Okere will kick-start the 2017 literary season of Abuja Writers Forum (AWF), as they share the spotlight during the February 25 Guest Writer Session at Nanet Suites.
Akunebu is a journalism teacher with International Institute of Journalism (IIJ), Abuja, and the cice- chairman of Association of Nigerian Authors (ANA), Abuja chapter. He is a public scholar, poet, playwright and essayist. He has authored a number of books.
Kazé was born to civil servant parents in the city of Jos, where he was educated at St. Murumba College and the University of Jos. As a child, he was drawn to music, listening to his father’s reggae collections and watching keenly the likes of New Edition, Michael Jackson and Bob Marley on television. As a teenager in the 1990s, he fell in love with hip-hop and rhythm and blues.
On the other hand, local folk music had always been available in his community as he grew up. After several failed attempts at starting an independent music group, in 2004, eventually, he founded a rock band, Trybe of the Sealed.
Recently in December 2016, he released his second album titled Paradigm Shift. Doug’s drive is to provide thought-provoking lyrics that address social issues and promote love and peace in society.
Okere is from Imo state, Nigeria. He obtained his BA (ED) in English and Comparative Literature at the University of Uyo, Nigeria. He is a member of the Abuja Literary Society, and Abuja Writers Forum.
The Guest Writer Session, which also features a raffle-draw for books, runs from 4-7pm and is open to the public.
Vía Uzomedia http://ift.tt/2llAMOu
Monday, 20 February 2017
Brand me a millionaire!
<img src="http://ift.tt/2m6nrI2" alt="" width="640" height="359" class="alignleft size-full wp-image-245231" srcset="http://ift.tt/2m6nrI2 640w,http://ift.tt/2lgry66 320w,http://ift.tt/2m6f3sd 281w,http://ift.tt/2lgirT8 562w,http://ift.tt/2m6gOpo 531w,http://ift.tt/2lgs18p 1062w,http://ift.tt/2m6pn3q 487w,http://ift.tt/2lgBc8V 600w" sizes="(max-width: 640px) 100vw, 640px"https://cdn.gdn.ng/, we have witnessed an endless deluge of millionaire promotions by virtually every company you can think of. From banks to telecoms to manufacturers and traders. Every company it seems, wants to make every Nigerian a millionaire! Our telcos and banks have now become lottery operators and everything they do is driven by some bogus plan to turn gullible customers to millionaires overnight. This to me, is beyond shocking. Banks, running millionaire promos! When did they become casinos? The very essence of banking is completely at variance with these scams they perpetrate in the guise of turning people into millionaires.
As a young copywriter with S O and U Saatchi and Saatchi more than twenty five years ago, I worked on the advertising campaigns of several banks, including GTBank. I remember that back then, banks were not allowed to run promos. As a bank you could not run any campaign which involved raffle draws and the silly lotteries that now seem the norm. The Central Bank, which approved all bank advertising campaigns would simply not approve of such.
I don’t know what has happened between then and now at Central Bank. But I know that it is disastrous for banks to promote the millionaire mentality that now pervades our national psyche. What happened to the time honored values of honest hard work and perseverance? What happened to value creation as a veritable means of wealth creation?
It is a calamity of titanic proportions that our young people who should be dreaming of becoming the next Aliko Dangote, Mike Adenuga, Bill Gates, Mark Zuckerberg, Leo Stan Ekeh, etc, are busy scratching cards and playing all kinds of lotteries and engaging in different scams, just so they can become millionaires within the twinkle of an eye! I do not know of any celebrated billionaire in the world today who made it from scratching recharge cards, or simply keeping money in the bank. People looking for easy money forget that there is no short cut to anywhere worth going. Even Dangote and Adenuga, whose companies have actually run some of these promos should be asked, if they made their fortune from taking part in millionaire promos!
Many brand managers now see these promos as a way to boost sales. But it is actually a lazy approach. If people get attracted to your brand through promos that promise to make them sudden millionaires, most of them will return to their favorite brands with a bitter dislike for your brand once the promo runs out and they don’t win. Then sales begin to slow down and soon, you need another promo. It’s like subjecting your brand to frequent doses of an addictive stimulant. Regular promos soon take the place of deep strategic thinking for long term brand success. Why do we like the short cut approach to things? Could this short cut mentality explain why we are not building globally competitive brands? Is it an extension of our culture of bribery? Is it akin to bribing the consumers to patronize your brand?
Sustainable brand building is the key to long term brand success and wealth creation. But sadly, we see all around us people promoting the gospel of millionairism. This is why the MMM scam was so successful in Nigeria. People don’t want to think or work hard. They simply want to make it big! That’s why lotteries, betting, miracle working churches have taken over both our air waves and landscape! While our people should be thinking and working, they’re betting and gambling! Unfortunately, large corporate institutions including banks and the giant telcos who should be key guardians of our national ethos are at the fore front of this deceptive crusade. They have spent billions of naira promoting a culture of instant gratification and eroding the most sacred values of our nation state! People no longer believe in hard work, integrity and value creation as sure ways to wealth and success. Rather, they believe in “miraculous” breakthroughs, millionaire promos, MMM, betting and lotteries as ways to ‘make it’. Youths now apply their God given talent and intelligence towards all kinds of dubious get rich quick schemes!
I remember one of the banks running a promo called ‘salary for life’. You just need to keep a certain amount of money in the bank for a specified period of time and you could win a salary for life. By doing nothing, you will be paid a salary for life. Does this make sense at all? Is this the kind of promos banks should be running? Is this the sort of mentality banks should be promoting? That you could be paid a salary for life doing absolutely nothing? Is this the way great nations are built? I often think our banks have very little idea what they should be doing about national development.
Perhaps, they do not understand that as publicly quoted companies and financial institutions, they should uphold and promote the most positive values of our nation. They should project the timeless values of security and integrity, putting the public interest and the national interest above instant gratification and myopic promotions that border on crooked manipulation. Rather than scam people under the guise of promos, they should go to our universities and promote the best brains and empower them and help them create value that will make them millionaires and employers over time.
Great brands are not built overnight. Neither are they built by turning people into millionaires overnight. Brand managers should de-emphasize this lottery mentality and get down to serious strategic thinking based on a focus on consistent value creation. They are not doing their brands much good over the long term. Neither are they doing our nation much good.
By consistently promoting the idea that you can become a millionaire overnight, they are destroying the very basis of brand building and the essence of nation building. There are many kinds of promos aimed at achieving different marketing objectives and rewarding consumer loyalty. But promos are counterproductive when they prey on people’s greed and gullibility. There is no better time than now, with the recession and all, to rethink our short cut approach to things and entrench a culture of doing things the right way and building brands for the long term.
Vía The Guardian Nigeria http://ift.tt/2lAAvrs
ARM, Lagos government partner to equip youths on coding technology
Jumoke Ogundare<br />
Determined to bridge the gap between education, technology and business innovations, ARM Investment Managers, and the Lagos State Government are floating a new scheme tagged, “Code Lagos” to equip young Nigerians on latest coding techniques.
Code Lagos is aimed at educating Lagos State residents for the future of work – by teaching them how to write code and creatively solve problems. The scheme will run in public and private schools in the state, from primary to tertiary institutions and public libraries.
The Chief Executive Officer, ARM, Jumoke Ogundare, at the unveiling of the new scheme yesterday, said the Code Lagos project would make more youths employable, stay afloat with innovations across the globe as well as contributing meaningfully to the growth of the nation’s economy.
Ogundare, who stated that her company would be providing 15 of the 750 centres planned by the state government in three years, enjoined students to take advantage of the scheme to grow their talents.
She said: “We believe that an economy can only grow if people are literate and aware of things happening in the society and globally. For us, we see education as the foundation for any good society. When you bring business and education together, it is then that the economy can really grow to an enviable level.
“As we get more educated people, it would be easy for companies to employ people, because they are now well-equipped to contribute meaningfully to the growth of businesses,” she said.
Ogundare said the company is partnering with Lagos State Ministry of Education because it believed they have the zeal to make the economy work, as they pursue their goals vigorously.
The Special Adviser to Lagos State Governor on Education, Obafela Enitan, said the scheme is targeting one million people by 2019, who are expected to be trained by professional facilitators contracted by the government.
According to him, the government will launch the first phase of 350 centres in April this year. He said: “Coding is the future, because there is level of coding on everything we do on daily basis, this will expand your mind and you will never be the same person again. This is something that is being done in other countries. United Kingdom, United States and India and a host of others countries that have taken codes to a great level and it has contributed majorly to their economy.
So what we are doing is to make them learn the skills and make them more employable for corporate Nigerians to get workers that will add value to their company. To us in government, we need a workforce that can drive our economy, and it is focused at ensuring that we have quality minds that can drive this economy,”
Vía The Guardian Nigeria http://ift.tt/2l1Pt6P