General News
Technology and Operational Excellence: Enabler, Not a Panacea
By Michael Okwusogu, Founder and Managing Partner of ValueX Partners
In the case of technology and operational excellence, it could be argued that it has taken far too long. Techno-optimism is one of the greatest misconceptions when it comes to solving problems. Many of the problems that the world faces today are more complex than looking to some technological innovation to fix them. As a start, we must delineate technology and technological tools. The two are not the same especially in this context. I will explain why. Technology has been with us since the beginning of time.
The wheel is a marvel of invention and a tool of technological ingenuity that has served humankind for millennia and will continue to do so. It is a technological tool that has enabled humankind in addition to other tools, to build the world we live in today. Technology’s greatest asset is its applicability and utility depending on what we are looking to achieve. One should always choose wisely when using technology.
In my experience, within the confines of operational excellence, there are four key points that should form your decision making.
- What are your key strategic long- term goals? Usually, the objective has been to set goals for the short-term. To “put out the fires,” or meet the yearly objective, for example. Yet, this mentality usually leads the smouldering embers to flare up at a later stage. One should build for the future. Create a modular platform that enables you to use the right tech tools at the right time to meet your long-term goals and objectives – it is a methodical and disciplined approach to building operational excellence.
- Do you need a digitised environment at the initial stage? In certain cases, what is required is not digitisation, but innovation and thinking around creating an environment that will prosper in a digitised format. That means conducting a thorough rip exercise and audit. Adopt the Five Why questioning methodology if need be, or any other similar framework. I have always found this to be particularly insightful when taking on new roles or dealing with ‘business as usual’ issues. It tends to be the case that what is required, amongst other things, is training, development, organisational restructure, elimination of redundant processes, procedures and documents, a back-to-basics approach – i.e. what exactly is our core function – delivering on that, and making everyone accountable and responsible for each and every action in their respective areas and also, across the value chain which they touch.
- Mission: Who are we? What do we do? How are we supposed to do it? It is critical that the right technological tools be used to support the whole organisation for the long-term. Leadership has an instrumental role to set the vision and strategy of the organisation, engage and align all stakeholders to the future target operating model or achievement of the strategic goals and objectives. It may come across as elementary, but leadership’s role is to understand the technological and business environment over the course of each stage in the long-term. A structure must be put in place that allows teams to perform as best as they can in their respective roles and in their careers with the utilisation of the most appropriate tech tools.
- Choosing the right tech at the right time. For this to be a successful endeavour you need to align several key stakeholders. These include technology, your teams, and key stakeholders (e.g. front office/business facing) and your leadership team. Each party has a crucial role to play.
- Technology. Their key role is to give advice and support to the business. Technology should account for the current business infrastructure and the proposed infrastructure for the long-term. This will give the business an idea of available opportunities and any imminent challenges. In addition, technology should support the business in identifying suitable vendors for any infrastructure programme and be part of the selection process at contract award time.
- Teams/end users. The end users are regarded as the most important stakeholder. They must be part of the journey from the time of its inception. They must be thoroughly briefed, have accountability and ownership as to the objectives and what a successful outcome is expected to look like. Smart knowledgeable, and experienced individuals with a good work ethic and an ability to think out-of-the-box should be chosen across a wide spectrum of the organisation’s areas of responsibility (depending on the scope of the initiative), to be part of the core departmental project team.
- Leadership team. It is the leadership team’s role to set the vison and boundaries as to what is practical, achievable and within what time. Transparency and honesty are key here. A roadmap must be developed that has clear quantifiable and qualifiable goals. Usually, end users will compromise if they can see some sort of progress for a better future. All senior management, as the budget holders, should be regularly updated. These updates must be short, sharp and to the point. Furthermore, they will need to include key metrics, milestones, highlights, and lowlights in their regular reports. This builds trust and credibility within the organisation and provides transparency for external stakeholders.
These suggestions and recommendations are not prescriptive – they are my observations over the years and what has worked in many instances, and should be considered as rough and ready solutions. I have used these in many instances to achieve my goals and objectives, and I hope I have given you some insight that may prove to be of use in your respective roles.
Federal government has launched Credit for Laptops, Internet, Connectivity and Knowledge Digital Devices (C.L.I.C.K.D.), a new consumer credit initiative, to provide affordable financing for locally assembled laptops and other digital devices.
L-R: Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, and Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, at the launch
The initiative by the Nigerian Consumer Credit Corporation (CREDICORP) and the Federal Ministry of Communications, Innovation and Digital Economy, is aimed at equipping Nigerians with the tools needed to participate in the country’s growing digital economy.
During the launch, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, described access to credit as critical to improving productivity and driving economic growth.
Dr Tijani said no nation could achieve sustainable development without a strong credit system that enables individuals and businesses to access resources needed to become more productive.
He noted that in today’s digital age, technology has become indispensable for education, innovation and wealth creation.
The minister explained that many talented young Nigerians possess the skills required to succeed in the digital economy but remain constrained by their inability to own computers and other digital tools.
Drawing from his personal experience, Dr Tijani recalled how his first laptop as a student in the university opened doors to international opportunities and eventually inspired him to establish one of Nigeria’s pioneering technology hubs.
He said the new programme would ensure that more young Nigerians are not denied similar opportunities because of financial barriers.
According to him, the initiative aligns with President Bola Tinubu’s vision of building a one-trillion-dollar economy by expanding access to technology, boosting productivity and supporting local manufacturing.
Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, described the programme as a strategic investment in Nigeria’s future workforce and digital transformation.
Mr Nwagba said that while improvements in internet connectivity and digital skills training have positioned Nigeria for the Fourth Industrial Revolution, access to devices remains a major challenge preventing many young people from fully participating in the digital economy.
He explained that C.L.I.C.K.D. would bridge that gap by providing affordable consumer credit that enables beneficiaries to acquire laptops and other internet-enabled devices while they develop in-demand digital skills
Federal Government has announced the disbursement of about N333 billion to eight electricity generation companies (GenCos) as part of measures to resolve outstanding debts in the power sector.
The government also disclosed the issuance of a second bond valued at N729 billion to settle verified legacy obligations and improve liquidity within the Nigerian Electricity Supply Industry (NESI).
The disclosures were made on Tuesday at an investors’ forum organised by the Nigerian Bulk Electricity Trading (NBET) Plc in Abuja.
Government representatives said the latest bond issuance marked the completion of the initial phase of the Presidential Power Sector Debt Reduction Programme, which was designed to address verified liabilities and attract private sector investment across the electricity value chain.
The Special Adviser to the President on Energy, Mrs Olu Verheijen, said the implementation of the first series of the programme demonstrated the administration’s commitment to meeting its financial obligations and improving investor confidence.
Verheijen disclosed that the Federal Government in February 2026 allocated about N501 billion under the first tranche of the programme, comprising N300 billion in cash and N201 billion in non-cash bond instruments to offset verified debts owed to power producers.
She said N333 billion had so far been disbursed to eight participating GenCos operating 17 power plants.
According to her, the government also paid the first coupon of about N63.5 billion on the seven-year bond in full on July 14, 2026.
She explained that the payments had enabled generation companies to meet critical obligations to gas suppliers, lenders and operations and maintenance contractors, thereby improving their operational capacity.
“Markets do not reward promises; they reward performance. Capital follows credibility,” Verheijen said.
She added that the second bond series would further strengthen liquidity in the electricity market and create a more stable financial environment capable of attracting long-term private investment.
The Presidential Power Sector Debt Reduction Programme is part of broader Federal Government efforts to address challenges affecting electricity generation, distribution and investment in Nigeria’s power sector.
Federal government has launched a N482.4 million investment fund to support 12 tech-enabled Nigerian startups.
The initiative under the federal government of Nigeria’s Investment in Digital and Creative Enterprises (iDICE) Programme was implemented by the Bank of Industry (BoI).
The initiative in a statement said applications have been opened for Growth Lab, a 12-week acceleration programme that will select the 12 tech-enabled Nigerian startups, from the six geopolitical zones, for intensive growth support, investment readiness training, and access to up to $350,000 in funding.
According to Ife Adebayo, national coordinator of the Programme, growth lab was designed to support startups that have achieved early traction and are seeking the expertise, networks, and investment required to scale following the implementation of Founders Lab.
“Growth Lab is the Startup Bridge accelerator programme, designed for startups that have developed an MVP and require structured support to scale. The programme focuses on strengthening venture fundamentals and preparing companies for external investment.
“The programme targets startup founders who are seeking the support, networks, expertise, and investment readiness required to accelerate growth and strengthen their position within the Nigerian innovation ecosystem,” he said.
He added that selected founders will gain access to structured growth support, investment readiness preparation, access to industry experts, market expansion pathways, a $100,000 cash investment (or Naira equivalent) for 7.5% equity upon entering the programme (terms and conditions apply), and up to $250,000 in potential follow-on investment should certain growth conditions be met.
“Eligible startups must be at the post-MVP stage, demonstrate evidence of market validation through users, customers, pilots, partnerships, waitlists or any other demand signals, and be willing to participate fully in the hybrid programme,” he said.
The programme will run as an intensive 12-week hybrid experience, including virtual engagements and two physical weeks in Lagos focused on collaboration, learning, and business growth.
The statement said applications opened on July 15, 2026, and will close on August 19, 2026.
According to him, female founders are strongly encouraged to apply. Selection will be conducted through a clearly defined, merit-based evaluation process aligned with published criteria.
iDICE is a $618 million federal government initiative backed by international lenders to boost the technology and creative sectors.
It provides young entrepreneurs with business skills training, mentorship, and access to capital through funds and accelerator programs like the iDICE Startup Bridge.
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