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5 Business Lessons for Nigerians Turning 30

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Starting a business as a young man is very daunting. For some, they don’t have the capital to startup and for others, they are too scared to leave their comfort zone and start something on their own.

Either way, there are some fundamental business lessons you should know as you face your daily challenges especially before you turn 30. This will definitely help when you, if you eventually decide to start your business.

Time Is Your Most Important Resource
The adage that “time is money” is a very popular saying in Nigeria. So, you have to be conscious of time in everything you do especially when it comes to starting a business. The sooner you start something, the better for you.

Communication Can Fix Any Problem
Communication can’t be underrated when it comes to business. It can’t resolve any problem and misunderstandings. Communicating the right way can help you come up with mutually agreeable solutions. You can use the 7cs of communication to achieve effective communication.

Aiming for Perfection is a Waste of Time
There is nothing new under the sun. Many others have done the same you are planning to do. You can take a different approach but don’t wait until it is as perfect as your competitors before you launch.

With this mindset, you will always find something wrong with your business. Hence, simply do your best and get the right things done and watch as things unfold. Leave perfection to the most-high.

You Are Going to Fail
No matter your status, you are not insulated from failure. It is a phase in life you must go through. Your business may fail and you may encounter cash crunch, the important thing is not to despair.

Today, young entrepreneurs don’t complain of cash crunch because there are many sources of funding.

Recently, Paystack raised 13 million dollars seed funding from international investors. Interestingly, Paystack is run and managed by young Nigerians.

Don’t Stop Learning
No matter how much you know, you should not stop learning. There is enough opportunity for you to be a better leader and a better entrepreneur if you continue to learn and hone your skills. So, don’t stop learning.

Damilola Faustino writes from Lagos and can be reached via: [email protected]

 

 


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Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

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Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.

Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

Participants at the event

Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,

This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.

While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.

Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.

It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.

Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.

Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.

 

 

 

 

 

 

 

 

 


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As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply

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While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.

As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply

Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.

It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.

“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.

The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.

Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.


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President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman

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President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.

Jim Ovia

Jim Ovia

Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.

The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.

“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”

The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.

The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.

“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.

Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”


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