E-commerce and Business Start-up

A hosted E-commerce Solution, sometimes called a “Cloud” or “Software as a Service – SaaS” means that everything that you need is provided in one package. It includes the use of software and hosting with service and support provided. Importantly hosted solutions come with updates, upgrades and maintenance as part of the deal and they are the service providers responsibility.

E-commerce assists entrepreneurs to be creative and innovative. In the course of evaluation process of a potential new idea and market strategies.

E-commerce is essential, it increases importance indicated in the continually increasing amount of both business and business and business to customer, E-commerce sales.

The fastest growing retail E-commerce category in 2011 was Digital Contents and Subscription compose mainly of digital contents download in audio, videos, TV shows and E-books at a growth rate of 26%. Others are Flat panel TV’s, Tablets, E-readers, Jewry and Watches.

Wide spread use of personal consumer, the adoption of intranet in companies, the acceptance of internet as a business of communication platform and most secure which make business easier and faster.

There are other options like open source software and shared hosting but you will need web technical skills to go that way or you will need to find a web developer / designer to do the job for you. To go this direction you need to either choose the software that you want and then find a suitable hosting company or find a developer / designer who may make the choice for you. Once your website is completed you or your developer will be responsible for all the updates and security maintenance that is required to get the site working and safe. Make sure the developer that you select will be around after the website is finished to help maintain it.

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Air Pollution: A Tsunami in Nigeria

Air pollution is one of the biggest threats for the environment and affects everyone: humans, animals, crops, cities, forests, aquatic ecosystems. Here today we are going to look  in deep the causes, present air pollution rate in Nigeria and the most importantly, what are the possible solutions to tackle this treat to nature caused by the inhabitants of the earth?

Let’s begins with this; Water, I mean water. Yes, it is no longer enough simply to kill the bacteria contained in a water in order to make it drinkable, since the pollution produced by man has altered the very chemical composition of the natural water supply.

History

In 1392 King Charles VI of France published an edict that outlawed the emission of foul smelling gases in Paris.

Still on the agenda

A pollution effect.

Air pollution is caused by the presence in the atmosphere of toxic substances, mainly produced by human activities, even though sometimes it can result from natural phenomena such as volcanic eruptions, dust storms and wildfires, also depleting the air quality.

Nigeria produces more than 3 million tons of waste annually, and uncontrolled waste burning is one of the practices that contribute to deteriorating air quality. Almost every Nigerian is exposed to air pollution levels exceeding WHO guidelines and inflicting significant air pollution damage costs.

Air pollution was responsible for about a million premature deaths in Africa in 2016.
Nigeria has a mortality for air pollution of 307.4 for every 100,000 people, the second worst in all of Africa. More people die from air pollution in Nigeria than in South Africa, Kenya, and Angola, combined.

Air pollution is a critical risk factor for noncommunicable diseases (NCDs) worldwide, causing about 24% of all adult deaths from heart disease, 29% from lung cancer, 25% from stroke, and 43% from chronic obstructive pulmonary disease (COPD).

Major sources of air pollution in Nigeria include tailpipe exhaust from cars and trucks, smoke from the open burning of residential trash, diesel generators, road dust, industry, and soot from the use of biomass-fuelled cookstoves indoors.

The air pollution levels in cities such as Lagos, Abuja, Port Harcourt, Kano, and in particular Onitsha, a port city on the bank of the Niger River in southern Nigeria, is still at health-damaging level.

Onitsha recorded the world’s worst levels of PM10 (particles of less than 10 micrometers) air pollutants in 2016 with an annual mean concentration of 594 micrograms per cubic meter (μg/m3 ). This was 30 times above the World Health Organization (WHO) annual guideline of 20 μg/m3 for PM10.

Causes of air pollution in Nigeria today

  • Combustion of fossil fuels, like coal and oil for electricity and road transport, producing air pollutants like nitrogen and sulfur dioxide.
  • Emissions from industries and factories, releasing large amount of carbon monoxide, hydrocarbon, chemicals and organic compounds into the air.
  • Agricultural activities, due to the use of pesticides, insecticides, and fertilizers that emit harmful chemicals
  • Waste production, mostly because of methane generation in landfills.

Nigerian government can control Air pollution through the following ways:

1. Renewable fuel and clean energy production

The most basic solution for air pollution is to move away from fossil fuels, replacing them with alternative energies like solar, wind and geothermal.

2. Energy conservation and efficiency

Producing clean energy is crucial. But equally important is to reduce our consumption of energy by adopting responsible habits and using more efficient devices.

3. Eco-friendly transportation

Shifting to electric vehicles and hydrogen vehicles, and promoting shared mobility (i.e carpooling, and public transports) could reduce air pollution.

4. Green building

From planning to demolition, green building aims to create environmentally responsible and resource-efficient structures to reduce their carbon footprint.

In addition, monitoring air pollution levels has become very important to detect pollution peaks, better control air pollution and eventually improve air quality.

To this end, learn how to  measure air quality ?

With measuring devices using laser-based technologies, chemiluminescence, flame ionization, etc. These devices are, for instance, located close to the traffic, far from the traffic and close to industrial zones. All the collected data are compiled into a value scale, called the
Air Quality Index (AQI).

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Reviving the Wakanda Spirit in Africa

 


Credit: Black Panther/ Marvel Studios.

You are in Wakanda now. Thanos will have nothing but dust and blood.

Wakanda , officially known the as Kingdom of Wakanda , is a small isolationist landlocked country located in Africa , surrounded by mountain ranges and a thick forest.

Map of Wakanda from Official Handbook of the Marvel Universe #1 (December 1983).
Art by Don McGregor.

 

As essential as the allure of the character the Black Panther is, the Kingdom of Wakanda, the fictional African city from which he hails, is just as meaningful to many of those attending. Wakanda is a hidden African city, never conquered by Europeans, with the world’s only source of Vibranium and more technologically advanced that the rest of the world. It is alleged the source of the Vibranium is a meteor strike and that the meteor contained the Soul Gem, one of the Infinity Stones integral to the plot of Avengers: Infinity War.

Why Wakanda Forever Is Bigger Than ‘Black Panther’

 

Let’s visit the old Egypt

Ancient Egypt was a civilization of ancient North Africa , concentrated along the lower reaches of the Nile River in the place that is now the country Egypt . Ancient Egyptian civilization followed prehistoric Egypt and coalesced around 3100 BC (according to conventional Egyptian chronology ) with the political unification of Upper and Lower Egypt under Menes (often identified with Narmer ).

The history of ancient Egypt occurred as a series of stable kingdoms, separated by periods of relative instability known as Intermediate Periods: the Old Kingdom of the Early Bronze Age , the Middle Kingdom of the Middle Bronze Age and the New Kingdom of the Late Bronze Age .

An old Egyptian Map.

Egypt reached the pinnacle of its power in the New Kingdom, ruling much of Nubia and a sizable portion of the Near East , after which it entered a period of slow decline. During the course of its history Egypt was invaded or conquered by a number of foreign powers, including the Hyksos, the Libyans, the Nubians, the Assyrians , the Achaemenid Persians , and the Macedonians under the command of Alexander the Great . The Greek Ptolemaic Kingdom, formed in the aftermath of Alexander’s death, ruled Egypt until 30 BC, when, under Cleopatra , it fell to the Roman Empire and became a Roman province.

The success of ancient Egyptian civilization came partly from its ability to adapt to the conditions of the Nile River valley for agriculture. The predictable flooding and controlled irrigation of the fertile valley produced surplus crops, which supported a more dense population, and social development and culture. With resources to spare, the administration sponsored mineral exploitation of the valley and surrounding desert regions, the early development of an independent writing system , the organization of collective construction and agricultural projects, trade with surrounding regions, and a military intended to assert Egyptian dominance. Motivating and organizing these activities was a bureaucracy of elite scribes , religious leaders, and administrators under the control of a pharaoh, who ensured the cooperation and unity of the Egyptian people in the context of an elaborate system of religious beliefs.

The many achievements of the ancient Egyptians include the
quarrying, surveying and construction techniques that supported the building of monumental pyramids, temples, and obelisks ; a system of mathematics , a practical and effective system of medicine, irrigation systems and agricultural production techniques, the first known planked boats, Egyptian faience and glass technology, new forms of literature , and the earliest known peace treaty , made with the Hittites. Ancient Egypt has left a lasting legacy. Its art and architecture were widely copied, and its antiquities carried off to far corners of the world. Its monumental ruins have inspired the imaginations of travelers and writers for centuries. A new-found respect for antiquities and excavations in the early modern period by Europeans and Egyptians led to the scientific investigation of Egyptian civilization and a greater appreciation of its cultural legacy.

The pyramids of Giza are among the most recognizable symbols of the civilization of ancient Egypt.

Old Kingdom

The great pyramids of Gizah

Major advances in architecture, art, and technology were made during the
Old Kingdom , fueled by the increased agricultural productivity and resulting population, made possible by a well-developed central administration. Some of ancient Egypt’s crowning achievements, the Giza pyramids and Great Sphinx , were constructed during the Old Kingdom. Under the direction of the vizier , state officials collected taxes, coordinated irrigation projects to improve crop yield, drafted peasants to work on construction projects, and established a justice system to maintain peace and order.

Middle Kingdom

The kings of the Middle Kingdom restored the country’s stability and prosperity, thereby stimulating a resurgence of art, literature, and monumental building projects. Mentuhotep II and his Eleventh Dynasty successors ruled from Thebes, but the vizier Amenemhat I , upon assuming the kingship at the beginning of the Twelfth Dynasty around 1985 BC, shifted the kingdom’s capital to the city of Itjtawy , located in
Faiyum . From Itjtawy, the kings of the Twelfth Dynasty undertook a farsighted land reclamation and irrigation scheme to increase agricultural output in the region. Moreover, the military reconquered territory in Nubia that was rich in quarries and gold mines, while laborers built a defensive structure in the Eastern Delta, called the “Walls-of-the-Ruler “, to defend against foreign attack.

In 332 BC, Alexander the Great conquered Egypt with little resistance from the Persians and was welcomed by the Egyptians as a deliverer. The administration established by Alexander’s successors, the Macedonian Ptolemaic Kingdom, was based on an Egyptian model and based in the new capital city of Alexandria. The city showcased the power and prestige of Hellenistic rule, and became a seat of learning and culture, centered at the famous Library of Alexandria . The Lighthouse of Alexandria lit the way for the many ships that kept trade flowing through the city as the Ptolemies made commerce and revenue generating enterprises, such as papyrus manufacturing, their top priority.

Young people are the drivers of Africa’s economy and future. With eleven million youth expected to enter Africa’s labor market every year for the next decade, now is the time for urgent action to build and nurture the region’s human capital.

The above information was culled for motivation and for the propagation of change in the future of Africa’s youths, policy makers, and civil society to collectively focus in solving the Africa challenges , aspirations, and actions taken to help build the human capital of areas of digital transformation to building human capital, Africa’s development future, prepare for Africa’s digital future and developing the potential of the continent’s next generation.

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Import Standardization in modern Nigeria

Trade facilitation has become a fundamental role, progressively seen by government as an important element of economic policy in today’s world. Standardisation of products is a worldwide industrial practice aimed at ensuring product quality. Governments have institutions whose duty is to formulate product quality standards and see to their enforcement. Companies that flouted industrial standards may be sanctioned or sued for infringement of regulations.

Nigeria imported US$36.5 billion worth of goods from around the globe in 2018, down by -18.3% since 2014 but up by 26.1% from 2017 to 2018.
Given Nigeria’s population of 203.5 million people, its total $36.5 billion in 2018 imports translates to roughly $180 in yearly product demand from every person in the West African region country.
There is no country anywhere in the world that leaves the production of goods and services without rules and regulations for quality assurance and public safety. Without standardization, greedy and unscrupulous companies would embark on the production of goods and services that lack quality. Only the monetary consideration would be the overriding factor. The negative impacts of the products on consumers would not be considered.

Nigeria importation model

Close to 85% of products imported into Nigeria come through the ports in Apapa, Lagos. Therefore, you should direct your attention to those ports to ensure your merchandise makes it through quickly and with no issues.

Apapa Port, Lagos Nigeria

Also, keep in mind that depending on your shipping point of origin (e.g., Asia or Europe), you should know how long it typically takes for imported items to make it to these ports. For example, products from China usually take 30 days to arrive at Lagos. Therefore, you should account for not only the time it takes for items to make it through inspection but also how long it takes for the items to arrive in Nigeria.

Product Registration

Before you make your first shipment, begin the process of registering your product. There are two major governmental agencies to keep in mind during this process: The National Agency for Food and Drugs Administration and Control (NAFDAC) and Standards Organization of Nigeria (SON).

Food and drugs imported will have to go through NAFDAC registration, while other products will go through pre-shipment verification through SON. The SON Conformity Assessment Program (SONCAP) was put in place so that Nigeria imports undergo verification and testing in the country from which they were supplied.

The SONCAP Certificate, which is issued by the agency, demonstrates that your products meet the applicable standards and regulations.

Clearing the Ports

After you have gone through the necessary certification and verification procedures, your item is ready to be shipped. Navigating the port system to ensure your shipment clears the port upon arrival takes insight and finesse, as clearing goods at Nigerian ports has greatly contributed to

For one thing, products which are subject to SONCAP certification must be accompanied by a SONCAP certificate, which is why it is important to know beforehand if you must obtain said certification.

Also, you will have to pay import tariffs, such as duties, levies, and value-added tax (VAT) on your shipment. Therefore, taking these fees into consideration ahead of time is crucial when it comes to pricing your products to help cover these import tariffs. Tariffs can be as low as 15% to as high as 70% depending on the goods being imported. You can find out the official import tariff for your products here.

It is evident that clearing goods at Nigerian ports can be more difficult in comparison to other countries. Therefore, instead of handling the import process yourself, you should consider hiring a local clearing agent who has the local expertise and insight needed to get your shipments cleared quickly.

This will help ensure your products make it into the country and will also mitigate any risks associated with maneuvering the importation system yourself.

Warehousing and Logistics for Nigeria Imports

Outside of making sure you’re able to get your goods cleared at the port as quickly as possible, it’s equally as important that you fully understand the distribution network in Nigeria and find a secure warehouse to store your merchandise. When searching for a place to store your products, make sure you take a few important factors into consideration, such as the accessibility of the facility, whether or not your product will be safe while stored there, the payment structures in place (i.e., monthly, yearly, or per shipment payment schedule), and the facilities product handling capabilities. The last factor is especially important if you are shipping fragile merchandise.

In particular, the procedures for quality inspection must ensure that procedures for pre-clearance audit and post-clearance audit that are according to specialized management field must be clarified; Goods subject to pre-clearance audit must be goods or goods of high risk and directly affecting epidemics, infectious diseases, people’s health, social order and security, social morality and custom and environment.

It is necessary to specify the order, time and steps for implementation of each procedure attached to the responsibilities of the State inspection agency for goods quality with the agencies and organizations involved in the inspection process; to determine the sampling, sampling time, sampling rate, sampling methods, responsibilities of agencies, organizations and enterprises involved in sampling and sending testing results; to clarify the method of implementation, requirements for dossier and simply the required documents; to publicize the payment method of fees and charges (if any) by electronic method in accordance with the implementation of administrative procedures on the National Single Window Portal; to specify the conditions and criteria on exemption from inspection, reduction of inspection or strict inspection, thereby evaluating the risk level and goods channel classification as well as taking appropriate inspection measures to shorten the Customs clearance time for goods of low risk.

The Federal Competition and Consumer Protection Commission (FCCPC) is the apex consumer protection agency in Nigeria. The Commission was established by the Federal Competition and Consumer Protection Commission Act (FCCPCA) (Cap. 25, Laws of The Federation 2004). The overall mandate of the Commission is to protect consumers by taking both preventive and remedial measures.

Knowing your right as a Nigerian

Consumer Rights

1. Right to value for money:
Products and services MUST give value for money.
2. Right to Safety:
Protection from hazardous products, services, and production processes.
3. Right to Information:
Provision of information to enable informed consumer choice; and protection from misleading or deceptive advertisement and labelling.
4. Right to Choose:
Access to a variety of quality products and services at competitive prices. A consumer should not be compelled to buy products or services he/she does not need.
5. Right to Redress:
Redress for unsatisfactory products and services. A dissatisfied consumer is entitled to the 3Rs i.e. Repair, Replacement or Refund.
6. Right to Consumer Education:
Acquisition of the skills to be an informed consumer.
7. Right to Representation:
A consumer has a right to be heard and represented at fora where policies, regulations and standards affecting consumers are made.

Consumer Responsibilities 

Holistic consumer protection is a collective effort. Its actualisation requires input, not just from manufacturers, service providers and government, but also the consumer.
The consumer has the responsibility to:
1. Be Aware
Gather all the information and facts available about a product or service, as well as, keep abreast of changes and innovations in the market.
2. Beware
Be alert to the quality and safety of products and services before you purchase.
3. Think Independently
Make decisions about well-considered needs and wants.
4. Speak Out
Inform manufacturers and government of your needs and expectations.
5. Be an Ethical Consumer
Be fair and never engage in dishonest practices which affect other consumers negatively.
6. Complain
Inform businesses and appropriate regulatory authorities about your dissatisfaction with a product or service, in a fair and honest manner
7. Share Experience
Inform other consumers about your experience with a product or service.
8. Respect the Environment
Avoid waste, littering and contributing to pollution. Promote sustainable consumption by ensuring that what you consume does not impact on the environment negatively.

Government recent actions against sub standard product in Nigeria

Recall of certain Ford Fusion, Lincoln and Focus vehicles on account of manufacturing defect

On March 14, 2018, the Ford Motor Company in the United States initiated a recall. Approximately 1.4 million vehicles are affected by the recall. The purpose of the recall is that; on some models, steering wheel bolts could become loose and cause the steering wheel to potentially detach. This could lead to a serious accident. Ford admits that it has become aware of two accidents and one injury that may have been caused by the problem.
This particular recall applies to Ford Fusion and the Lincoln MKZ models from model years 2014-2018. Specifically, every Fusion version; Fusion S, SE, Hybrid S, SE, Hybrid Titanium, Fusion Energi SE, Engergi Titanium, Fusion Sport, Fusion Platinum, Fusion Hybrid Platinum and Fusion Energi Platinum. With respect to Lincoln MKZ, the recall also applies to every version of the Lincoln MKZ, Lincoln MKZ Premier, Hybrid Premier and Black Label.
In addition to the above, but on a separate note, Ford is also recalling another 6,000 Fusion and Ford Focus models due to a risk of fire from a fracture in the clutch pressure plate. The relevant model years are 2013-2016.
Although the recall appears to be limited to North America, the Council is in the process of contacting local Ford dealers to verify the batch, lot of group of individual vehicles involved, and whether any was exported to, and sold in Nigeria. The Council recognizes that some of the versions of the subject models were unlikely to have been manufactured for possible export to Nigeria.

Controversy over the safety of Blue Band “Spread for Bread” and solubility in rising and high temperatures 

The Federal Competition and Consumer Protection Commission is aware that a short demonstration video showing how Blue Band “Spread for Bread” (a product of Unilever Nigeria PLC) reacts under certain heat conditions has been circulating, particularly on social media. The video, or impression it conveys, has become the subject of anxiety and intense controversy. It suggests that the product, which the narrator considers a functional equivalent of “Blue Band Original”, is unsafe because, when subjected to high temperature in boiling water, it did not melt or dissolve.
Available scientific information confirms that, though butter, margarine, and spread appear analogous, and share similar components, characteristics and uses, they are different products available to consumers. Butter and margarine share a particular similar characteristic; low resistance to heat. As such, both are likely to melt when subjected to certain levels of heat. Spreads however, have varying heat resistance, depending on intended use, and production process. As a result, it is not necessarily unsafe that a spread does not melt under similar heat conditions as butter, or margarine.
Spreads are produced in part by adding emulsifiers which are additives used in stabilizing and binding processed foods. They are not inherently unsafe or uncommon. The specific emulsifying agent and amount used, largely depends on many factors including shelf life, storage, handling and climatic conditions in order to prevent microbial activity.
The manufacturer of this product has made a statement seeking to address public concern by differentiating its products and explaining the purposes of the two different products.
Regardless, the Council has opened an inquiry to determine product safety, and clarify some aspects of the manufacturer’s statements. The purpose of the inquiry is to ensure their products, differentiated or otherwise, are safe and subjected to proper processes, and “in-trade” handling consistent with the different properties and characteristics of each product.

Chinese Drugs Containing Human Remains

NAFDAC has been informed by Ministry of Health of some Chinese drugs that contain human remains. NAFDAC’s Director General immediately alerted the Agency’s Ports Inspection Directorate to be on the lookout at our ports and borders since the drugs may be brought into the country as small packages. The Pharmacovigilance and Post-Marketing Directorate has also been alerted to conduct surveillance in our markets. The Registration and Regulatory Affairs Directorate is also on the lookout. Our goal is to Safeguard the Health of the Nation. ​​The Director General has also contacted her counterpart in South Korea since the news was disseminated by Nigeria and Korea Intelligence Agencies. We will keep the public updated.

Listeriosis Resulting From Consumption Of Imported Contaminated Frozen Mixed Vegetable

National Agency for Food and Drug Administration and Control’s directorate of Food Safety and Applied Nutrition (FSAN) responded to an alert from International Food Safety Authorities Network (INFOSAN) on outbreak of Listeriosis in some parts of Europe. INFOSAN received the information from European Rapid Alert System on Food and Feed (RASFF). INFOSAN is a global network of national food safety authorities managed jointly by FAO and WHO whose primary responsibility is to assist member states in managing food safety risks and ensuring rapid sharing of information during food safety emergencies to stop the spread from one country to another.
The Director General, Prof Mojisola Adeyeye was informed on July 11, 2018 by FSAN that the RASFF had confirmed that the compromised food (frozen mixed vegetables) was shipped to Nigeria. She immediately gave a directive for a nation-wide surveillance. NAFDAC’s FSAN directorate went into action and confirmed that some of the implicated products actually arrived Nigeria. Teams dispatched to the field found large quantities of the implicated products and placed them on HOLD. Placing on HOLD means the item cannot be distributed or sold.
The outbreak of Listeriosis in Europe was linked to frozen corn and other frozen mixed vegetables. Listeria monocytogenes, the causative agent of listeriosis can be found in many foods. Examples include smoked fish; meats; cheeses (especially soft cheeses) and raw vegetables. Consumption of contaminated food or feed is the main route of transmission to humans and animals. Infection that can lead to death may also occur through contact with infected animals or people.
NAFDAC’s next step response started with the Agency’s newly created First Responders Team (FRT). The Team (composed of staff from FSAN, Investigations & Enforcement, and Pharmacovigilance/Post marketing directorates) carried out the nationwide investigations in Lagos, Port Harcourt and Abuja. NAFDAC recovered a total of 3,300kg of the implicated product, PINGUIN brand of mixed vegetables, which have been isolated by the Agency for destruction. Therefore, health risks to the Nigerian public have been mitigated. Further surveillance is on-going nationwide.
As a member of INFOSAN, NAFDAC has the obligation to respond promptly to INFOSAN alerts and give a feedback on actions taken. In line with its obligation, NAFDAC has sent required updates on her activities to INFOSAN, with regard to this outbreak.

Take home

The Nigerian Customs Service should increase their protective strategies against Illegal commercial activities and trade in illicit goods, e.g. import of fake and sub-standard goods into the country.

The Standard Organization of Nigeria, should continue to prevent the dumping of substandard goods into the Nigeria market and as a result preventing economic loss to the importer and the nation at large.

NAFDAC should level up the inspection of imported food, drugs, medical devices, cosmetics, Chemicals, detergents, drinks and bottled water at ports of entry before release.

Finally, all government Agencies including CBN, Police, NDLEA, SON, NAFDAC, FIRS; should increase their collaborative efforts to fight against sub-standard imported goods which is available all over Nigeria.

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Currency devaluation: The root cause of Nigerian economic woes

Nigeria is a middle-income, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors. It is ranked as the 27th largest economy in the world in terms of nominal GDP, and the 22ndlargest in terms of purchasing power parity. It is the largest economy in Africa; its re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the West African subcontinent. In addition, the debt-to-GDP ratio is 11 percent, which is 8 percent below the 2012 ratio.

Structural Adjustment Programs (SAP) the evil

Currency devaluation leads to increase in output and improves the balance of payments but in the long run the monetary consequence of the devaluation ensures that the increase in output and improvement in the balance of payment is neutralized by the rise in prices.The naira (sign: ₦; code: NGN) is the currency of Nigeria. It is subdivided into 100 kobo.

Central Bank of Nigeria, Abuja

The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Nigerian Federation. It controls the volume of money supplied in the economy in order to ensure monetary and price stability. The Currency & Branch Operations Department of the CBN is in charge of currency management, through the procurement, distribution/supply, processing, reissue and disposal/disintegration of bank notes and coins.

Nigerian bank notes

Then, most African nations are implementing SAP, as an economic `panacea’ inspired by the World Bank and the IMF. The objectives of a Structural Adjustment Program are largely the same for most African nations, because the world bodies presume that African economies are at the same level of development and are experiencing similar problems.

The stated objectives of the Nigerian SAP are to:

• Restructure and diversify the productive base of the economy

• Achieve fiscal stability and positive balance of payments

• Set the basis for a sustained non-inflationary or minimal inflationary growth, and

• Reduce the dominance of unproductive investments in the public sector.

The effect of mandatory foreign exchange markets has been to erode the value of the local currency over time. Most countries undergoing adjustment have seen their currency values plummet in relation to international currencies. After the implementing SAP in Nigeria, there have been a rapid increase in the number of new banks. At the end of 1983, Nigeria had 32 approved commercial banks of which 25 were functioning with a national network of 11,001 branches, there were 10 merchant banks and 22 development banks, including savings banks.5 By 1992, about six years after Nigeria has started implementing SAP, commercial and merchant banks had increased to 120, there were 500 finance houses, over 200 stock-brokers and brokerage houses, about 156 community banks, a people’s bank with over 210 branches, and 85 savings banks.

The Endless devaluation

All the African nations implementing SAP are today experiencing increasing indebtedness and budget deficits because they are not growing; a growing economy realizes budget surpluses and pays its debts. All the African nations implementing SAP are also experiencing mass unemployment in all categories.This trend has been experienced by the currencies of all nations that have been implementing SAP for about a decade.

 

Before SAP began in 1986, one dollar exchanged for 77 kobo (1 naira = 100 kobo). When SAP began later that year the dollar exchanged for 1.756 naira and the main complaint among corporate executives was that there was insufficient foreign currency (e.g., dollars) to exchange for the volume of naira available. As the dollar exchanged for more naira, companies became cash-strapped; they could not get enough naira to exchange for dollars. The dollar exchanged for 4.016 naira in 1987, 5.35 naira in 1988, 9.93 naira in 1991 and 22 naira in 1993.7 Interestingly, there has been an increasing gap between demand and supply. In 1988, $2,910 million was offered against $3,260 million demanded. In 1991, $262 million was offered on a monthly basis against the $788 million demanded. In July 1993, $290 million was offered against $3,439 million demanded, and in August, $230 million was offered against $3,930 million demanded.

 

Nigeria has been hindered by years of mismanagement, economic reforms of the past decade have put Nigeria back on track towards achieving its full economic potential. Nigerian GDP at purchasing power parity (PPP) has almost tripled from $170 billion in 2000 to $451 billion in 2012, although estimates of the size of the informal sector (which is not included in official figures) put the actual numbers closer to $630 billion. Correspondingly, the GDP per capita doubled from $1400 per person in 2000 to an estimated $2,800 per person in 2012 (again, with the inclusion of the informal sector, it is estimated that GDP per capita hovers around $3,900 per person). (Population increased from 120 million in 2000 to 160 million in 2010). These figures were to be revised upwards by as much as 80% when metrics were to be recalculated subsequent to the rebasing of its economy in April 2014.

Although oil revenues contribute 2/3 of state revenues, oil only contributes about 9% to the GDP. Nigeria produces only about 2.7% of the world’s oil supply (in comparison, Saudi Arabia produces 12.9%, Russia produces 12.7% and the United States produces 8.6%). Although the petroleum sector is important, as government revenues still heavily rely on this sector, it remains a small part of the country’s overall economy.

Petroleum industry in Nigeria

Nigeria’s proven oil reserves are estimated to be 35 billion barrels (5.6×109 m3); natural gas reserves are well over 100 trillion cubic feet (2,800 km3). Nigeria is a member of the Organization of Petroleum Exporting Countries (OPEC). The types of crude oil exported by Nigeria are Bonny light oil, Forcados crude oil, Qua Ibo crude oil and Brass River crude oil. Poor corporate relations with indigenous communities, vandalism of oil infrastructure, severe ecological damage, and personal security problems throughout the Niger Delta oil-producing region continue to plague Nigeria’s oil sector.

The pump price of P.M.S. currently stands at around ₦145 at fueling stations across Nigeria. An initial increase in the price of petrol (Premium Motor Spirit) from around ₦65 to ₦140 triggered by the removal of fuel subsidies on January 1, 2012, triggered a total strike and massive protests across the country. Then President Goodluck Ebele Jonathan later reached an agreement with the Nigerian Labour Congress and reduced the pump price to 97 naira. The pump price was further reduced by 10 naira to 87 naira in the run-up to the 2015 general elections. However, after the elections of Muhammadu Buhari, the fuel subsidies was removed again, and the pump price increased again, despite the fall in oil price.

Victoria Island, Lagos in the late 90s

Since the fall in oil prices in 2015 and 2016, the government exchange rate policy has limited devaluation of the naira due to inflation concerns by the President Muhammadu Buhari.

Talk over

The largely subsistence agricultural sector has not kept up with rapid population growth, and Nigeria, once a large net exporter of food, now imports some of its food products, though mechanization has led to a resurgence in manufacturing and exporting of food products.

For an average Nigerian, it would mean the deliberate downward adjustment of the value of the naira relative to dollar. A rise fall in the value of the domestic currency in terms of other foreign currencies in the case of fixed exchange rate system is referred to as devaluation, according to the Central Bank of Nigeria.

Currency devaluation have become a pronounced and monumental issue in Nigeria from 1986 to present day. The Nigerian official legal tender (Naira) have suffered tremendous loss in value against other major currencies of the world.

Monetary authorities should do what they can to reduce the temporary increase in prices lest it become permanent. Timing at this point becomes very crucial. More so, the Nigerian government should consider devaluation of currency as the last resort to the economic imbalance.

 

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Unemployment and poverty have yet to see a positive impact in Nigeria

The increasing unemployment and declining underemployment rates imply that the fragile economic recovery is beginning to create employment. But the current rate measures that, the number of people actively looking for a job as a percentage of the labour force.

However, hours worked within these jobs are not yet enough for full time employment (40+ hours within the week). While this is on-going, the inflow of entrants into the labour market continues to grow steadily, minimizing the effect of any jobs created within the economy on the overall unemployment rate.

Last year, Nigeria’s official unemployment figures jumped by 30 percent this year to 16 million with another two million expected by the end of the year. But less than forty percent of Nigeria’s nearly 200 million people are fully employed. Also, in the same year, Nigeria edged-out of its worst recession in nearly three decades in September last year and made bouts of economic growth.

Similarly, a report as at January 2019 by the Brookings Institution indicated that, the Nigeria state had overtaken India as the nation with the highest number of extremely poor people. The report showed that about 87 million Nigerians are in extreme poverty, with six Nigerians falling into extreme poverty every minute.

Furthermore, data from National Bureau of Statistics, NBS, showed that the number of unemployed Nigerians rose  by 3.3 million or 19 per cent to 20.9 million in third quarter of 2018 (Q3’18)  from 17.6 million in third quarter  of 2017 (Q3’17).

Presenty, Unemployment Rate in Nigeria increased to 23.10 percent in the third quarter of 2018 from 22.70 percent in the second quarter of 2018. Unemployment Rate in Nigeria averaged 12.31 percent from 2006 until 2018, reaching an all time high of 23.10 percent in the third quarter of 2018 and a record low of 5.10 percent in the fourth quarter of 2010; NBS and Trading Economics noted(Figure 1.).

Fig. 1. UNEMPLOYMENT INDEX IN NIGERIA.
[NBS/ TRADINGECONOMICS.COM]

This  infra data, provides the latest reported value for – Nigeria Unemployment Rate – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Nigeria Unemployment Rate – actual data, historical chart and calendar of releases – was last updated on July of 2019.

Fig. 2.http://TRADINGECONOMICS.COM
TRADINGECONOMICS.COM

Why Unemployment rate is still increasing

Inadequate funding remains the major reason why most industries in the country could not survive or expand, to create more jobs in the system, Nigeria has what it takes to stand and compete favourably with China and Dubai, but for lack of support to its entrepreneurs.

From all  six geopolitical zones of the Nigeria, citizens have been lamenting  that  the Federal Government   lack of commitment  to empower entrepreneurs in the country to fast track economic growth.

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The crisis of the nation is besieged by idling crowds

Every day, Nigerians face frightening sizes of challenges like frustrations, tensions, and anxieties of uncertain future all over the faces of the people. What Texas is to the United States, Nigeria is to Africa. Slightly larger than the Lone Star State, Nigeria is situated on the western part of the Africa. Like Texas, oil is also a cornerstone of Nigeria’s economy.

A view of a busy district of Lagos from a flyover bridge.

The international spotlight is now shining on Nigeria, which is also Africa’s most populous countryIn Nigeria today, the situation of employment generation is pathetically unpleasant.

Sources: BBC Country Profile – Timeline, Fitch Solutions, Nigerian government.

Last year, Nigeria’s official unemployment figures jumped by 30 percent this year to 16 million with another two million expected by the end of the year. But less than forty percent of Nigeria’s nearly 200 million people are fully employed. Also, in the same year, Nigeria edged-out of its worst recession in nearly three decades in September last year and made bouts of economic growth. But unemployment and poverty have yet to see a positive impact.

In this circumstance of Nigeria therefore, when a system is disorderly, chaotic, inconsistent and crisis ridden as typical of ours, when the policy makers and the executors are incapable of allowing healthy natural happenings, the tendency is for the citizenry to look for alternative to survive the scenario. These escape alternatives are mostly illegal, and taking unknowable adventure by citizens of lower class of my fathers land migrating through the Sahel to reach the heavens on earth, in order to survive the challenges faced in their home country.

 

 

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Coming Soon: Aggregating Sahel and West-Africa Security for Regional Economic Boom

 

Most West African leaders were very optimistic about their countries’ future at independence. They hoped to transform their newly independent countries so that their citizens would enjoy the fruits of independence, as colonial rule had brought only few benefits to the majority of the people. And indeed, some started well. They formulated good policies for the social and economic development of their people. School enrollment, for example, increased substantially in the first decade of independence. The road network was expanded and hospitals and clinics were built. However, these impressive developments were soon overshadowed by many problems, some of which have still not been solved. I shall discuss below the causes spheres of influence of terrorism  and the solutions to the regional security treats for economic prosperity.

For centuries, herdsmen across Africa’s Sahel headed south during the long, hot dry season. Farmers typically welcomed them because their cattle and goats fertilized depleted cropland. While herders and farmers routinely competed over scarce resources, outright violence was restrained through customary arrangements and swift mediation from local leaders. But this symbiosis is crumbling. Instead, thousands of civilians from Burkina Faso, Chad, Mali, Mauritania, Niger and Nigeria are killed every year in bloody inter-communal violence. Many more are caught up in deadly overlapping conflicts that are spinning out of control.

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Governor Abiodun to reduce unemployment rate in Ogun, through employment process digitization and youth empowerment

The prosperity of a country lies in the improvements made for the comfort of majority of its citizens. Equality based rights protection is the basic requirement of the citizens. Number of structures and institutional factors combine together to define a map for the government and a social relation between government and its people is maintained. Due to this, government is obliged to provide best material (personnel).

To fulfill human resource plan of workplace, it requires the selection of those persons who can meet the needs of that workplace. Recruitment process starts by specifying the requirements (numbers, skills and time frame) of human resource. These requirements are the result of job analysis and activities of human resource development. After this initial process of job specification description, next phase is the recruitment process. Qualified candidates are asked to apply for the jobs. At this stage recruitment authority requires to devise the selection tools. Selection tools help in sorting out the best qualified persons.

As results of  the recruitment process application problems, job description and standard personnel requirements were not adequately used, especially at the lowest category of grade levels in Nigeria.

Kudos! to the government of Ogun State, Nigeria for taking a bold steps in the areas of unemployment by innovating and purifying corrupt  job application process in his state through digitization.

Governor Dapo Abiodun

Chief Press Secretary,  Kunle Somorin, stated that the portal would register, on a continuous basis, unemployed youths in the State with a view to providing them jobs suitable for their trade and academic qualifications.

He gave the site address as www.iseya.ng/public/.

“The Government of Ogun State are partnering with the public-private sector oriented to expand their job space for our teeming young men and women and those who have special talents,” the statement quoted the Governor as saying.

“It is a major pillar of our quality governance model. We are going to have an inclusive government that will utilize valuable potentials that abound in the State and that’s why we are involving the private sector.

“All graduates and those with vocational training across the State will give their information and we will endeavor  to match them with potential employers, not only within the civil service but also with the private sector, with whom we are partnering”, he stated.

To ensure that the citizens and residents of the states are not short-changed “we will send a local content bill for legislative action, such that investors will first look inward to availability of workers in Ogun State and make our youths their primary catchment area when they situate their Corp Abida here”.

The Governor said his Government plans certain enablers as corollary to his mission  to build our future together through “qualitative governance, education,  healthcare, infrastructural development, digitization and agriculture “.

“Besides linking our graduates with industrialists and Government agencies, we plan to engage 10,000 farmers to be supported for mechanized farming with attendant value chain benefits to make agribusiness bedrock of his administration’s plan to lift people out of poverty.”

Already, Governor Abiodun said 10,000 youths will be supported to plant cassava, maize and rice – crops in which the state is a leading producer.

“Each farmer will get a parcel of land and be supported with clearing,  seedlings,  extension and off takers services to ensure profitability of their ventures,” the statement concluded.

Job portal platforms can help in solving some problems of recruitment in Nigerian federal, state civil service and to determine the extent of the utilization of job description and job specification in the recruitment process if embrace by all government of the federation and not manipulated.

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TEF and UNDP to Empower 100,000 Additional Entrepreneurs   

As the continent looks towards its entrepreneurs. With a majority of African nations diversifying from traditional sources of income, entrepreneurship is increasingly seen as a key to economic growth.

Looking into the infrat tenuous economic statistical analysis, it shows vividly that entrepreneurial development is one of the strategic growth tools in which the continent can evolve her economic potentiality.

  • Nigeria is expected to be the 3rd most populous country by 2050 with a population of over 300 million while several other African countries are projected to have more than doubled their population in the same time period.
  • Africa, in general, is expected to account for more than half of the world’s population growth between 2015 and 2050.
  • 41% of Africans are currently under the age of 15 and 60% of the continent is below the age of 25.
  • Now, 9 out of 10 working African youth are poor or near poor and over the next 10 years, only one in four of Africa’s youth are expected to find a wage job at best.
  • The youth population in Africa is expected to double, to over 830 million, by 2050.
  • In Nigeria alone, over 40 million additional jobs will be needed between now and 2030.

Entrepreneurship development is basically the process of improving the skill set as well as the knowledge of the entrepreneurs. The process of entrepreneurship development is nothing but helping the entrepreneurs develop their skills through training and application of that training.

Now, Tony Elumelu Foundation as an African non-profit organization.

TEF Chairman, Tony O. Elumelu.

Founded in  by Tony O. Elumelu and headquartered in Lagos. Nigeria Tony O. Elumelu belief that, with the right support, entrepreneurs can be empowered to contribute meaningfully to Africa’s prosperity and social development.

Tony Elumelu Foundation Fellow

It is has also been a great ĵmoment,  since the establishment of Tony Elumelu Foundation, in the areas of entrepreneurship, small and medium scale businesses development to the young continent of Africa.

UNDP Representative and TEF Chairman sighning the partnership agreement.

We are pleased to announce the partnership between the Tony Elumelu Foundation and UNDP to empower 100,000 additional entrepreneurs in 7 Sahel African countries over a 10-year period. This is in addition to the 10,000 African entrepreneurs that the Foundation is already committed to; stated in TEF News letter.

Starting this July, applications open for African entrepreneurs residing in the following countries: Nigeria (Northern), Niger, Chad, Cameroun, Mauritania, Mali and Burkina Faso.

With this partnership, the Tony Elumelu Foundation will give hope to the thousands of African entrepreneurs who have not been selected for its TEF Entrepreneurship Programme.

Across Africa, entrepreneurs are starting every size, and every type, of business. Without adequate entrepreneurship education, mentorship and business support, Africa faces a very uncertain future.

So, we are imploring international organizations, wealthy African descants to partner with the likes of TEF or follow their empowerment path in the areas of entrepreneurship development and employment growth strategies in Africa, that have helping thousand of Africans since inception of the programme.

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