E-Business
Nigeria’s Competitiveness Survey Will Spur Growth-Friendly Policies- NCCN
By peter oluka
The National Competitiveness Council of Nigeria (NCCN) has said that Nigeria’s first national competitiveness report in November is part of its efforts in driving the viability of States in Nigeria and spurring viable policies for sustainable national prosperity.
Speaking at a press panel discourse on the theme “Competitiveness: The Viable Path to Job Inclusive Growth’”, Chika Mordi, NCCN CEO, explained that the move would help spur growth-friendly policies.
The forum brought together stakeholders in policy advocacy space and also financial, business and economic experts. Panelists at the forum agreed that States were vital to Nigeria’s quest to attaining a productive and viable economy.
According to the NCCN, the index evaluates the competitiveness of Nigeria’s 36 states and FCT through metrics that examine growth, development and productivity potential.
Explaining the findings of the new report to be released by his council, Mordi said, “There were some states where you saw a clear path when it comes to education and skills. What we hope is that the policy and interventions that have worked will be transferred from the states where they have worked to the states that haven’t done it yet. The goal we have is all about poverty reduction. We feel that competitiveness will drive inclusive growth.”
The NCCN report, which was compiled over the last 20 months with support from the Ford Foundation, the Tony Elumelu Foundation, the World Bank and a host of other reputable international organisations, looks into how economically competitive states in Nigeria are.
“What we did was to set parameters for assessing the competitiveness of every state,” Mordi said. And based on parameters that have pillars and sub-pillars around macroeconomics, human capital, infrastructure, trade and around things like settlement and enforcement, we did surveys across the country.”
“We did one of the largest surveys you are going to see in this part of the world. We had 8,000 plus households, over 2,000 business surveys and we had a response rate of 91 percent.
“So we asked them a series of questions about their businesses, their experiences and all of these were plugged into the pillars, after some analysis. We also had primary data that we used as well, and cross-validated all of this information to see where it made sense and cleaned it up.
“Based on those results, we now ranked every state on each pillar, aggregated it and now ranked the states, in terms of their competitiveness.”
The NCCN’s index drew from resources of the World Economic Forum, World Bank, Mexico’s IMCO and HBS’s Prof Michael Porter.
The NCCN also stated that it received funding from Ford Foundation, the Tony Elumelu Foundation, and resource support from the EU Energy Initiative Partnership Dialogue Facility (EUEI PDF) to drive initiatives targeted at fiscal balance, healthy public-private policy contestation and unleashing private enterprise potential.
“The NCCN Sub-National Index is a potent tool for catalysing business-friendly policies that will spur job-rich growth in Nigeria’s 36 states,” NCCN Chief Executive Officer, Chika Mordi said. The findings of NCCN Sub-National Index underscore the salience of state governments in Nigeria’s overall economic growth potential.”
The NCCN sub-national is expected to enable states to identify ways to maximise growth and development potential. State policies and actions hold the key to boosting Nigeria’s overall growth.
It added: “Nigeria faces a well-documented overdependence on oil for fiscal revenue that has stifled incentives for private sector growth and remains insufficient for sustainable poverty reduction.”
According to OPEC, the oil and gas sector accounts for about 35 per cent of gross domestic produc t and petroleum exports revenue represents over 90 per cent of total exports revenue.
Gross capital formation as a percentage of GDP remained inadequate for growth compared to other emerging economies (Algeria 51%, Mexico – 23%, South Africa – 21%, Nigeria – 15%).
Also, operational costs are high, the lack of adequate infrastructure constitutes a binding constraint for manufacturing and agriculture, and structural rigidities suffocate diversification and industrialisation efforts.
“Perhaps the most disturbing aspect of today’s context is Nigeria’s rising youth population, which is an unutilised demographic window of opportunity that is fast turning to a ticking demographic bomb in the form of a massive army of unemployed youths. 62.27% of the population is under the age of 25, Countries such as the US, China, Japan, and South Korea achieved economic growth and poverty reduction by exploiting a similar demographic window of opportunity.
Meanwhile, during the round-table discussion, which was held in Lagos, one of Nigeria’s foremost data analyst companies, BudgIT, said the nation’s current fiscal structure does not motivate state governments to look within and solve their own problems.
BudgIT’s co-founder, Oluseun Onigbinde explained that the current system of federal allocations and bailouts cripples the imagination of state governments to increase internal revenue.
“The incentive is grossly lacking and this is partly because the Nigerian political elites do not like to answer hard questions,” Onigbinde said.
NCCN is a nonpartisan private effort aimed at enhancing the productivity of businesses operating in Nigeria with the ultimate goal of improved socio-economic outcomes for Nigeria,” it added.
E-Business
Africa Shows ‘Moderate’ Level of Cybersecurity Preparedness
Anew report finds that Africa has a ‘moderate level’ of readiness in terms of security culture. KnowBe4, a provider of security awareness training and simulated phishing platforms, released its 2024 Security Culture Report for Africa.
The report delves deeply into the complex interplay between security practices and employee behaviours within businesses.
The research, based on surveys conducted across hundreds of businesses globally, provides a five-year comparative view, showing important changes impacting the cybersecurity landscape.
Africa’s cybersecurity landscape in 2023 faced problems such as limited resources, inadequate cyber awareness, and economic restraints, according to the research; nevertheless, the continent’s cybersecurity preparation efforts are now improving.
According to the research, Kenya scored 76 points, Nigeria 75, and Ghana 74, are leading the way in cybersecurity preparation, demonstrating effective measures supported by their governments.
Furthermore, the report claims Ghana’s strong improvement in cybersecurity, as indicated by its rise in the Global Cybersecurity Index, indicates Africa’s dedication to cybersecurity preparedness.
The security culture score is a global metric used to assess businesses’ security approaches, according to Javvad Malik, Lead Security Awareness Advocate at KnowBe4.
Malik notes: “This score reflects how much importance different entities worldwide place on cybersecurity within their organisational culture.”
Anna Collard, SVP of content strategy and evangelist for KnowBe4 Africa, says: “This demonstrates the importance of strengthening cybersecurity readiness, given the critical development requirements.
“In its section on Africa, the report reveals that organisations evaluated across 20 African countries exhibit an average security culture score of 72, consistent with the previous year. This shows a moderate level of readiness in security culture.”
According to KnowBe4, there are notable differences among industries and countries, underlining the importance of tailored efforts to improve cybersecurity resilience.
“The banking sector in Kenya is a standout performer, boasting an impressive average score of 83, attributed to its steadfast commitment to maintaining mature security cultures supported by robust security operations,” says Collard.
“However, industries such as public services, construction, education, and hospitality show lower security culture scores. This shows the importance of developing specific approaches to enhance cybersecurity awareness and practices in these sectors.”
Malik adds: “In today’s interconnected world, where a mobile device in a remote area can access sensitive accounts, working in isolation on security is no longer effective.”
He continues: “Collaboration between governments and regulators is essential, not just for creating laws, but also for demonstrating practical ways to strengthen security culture. Organisations need to prioritise the human element of cybersecurity by focusing on continuous awareness and training efforts rather than relying solely on technological solutions.”
E-Business
Konga and Starlink Partnership: A Blessing for Nigeria – Dr. A U Babatunde
In recent years, partnerships between e-commerce platforms and tech companies have been instrumental in driving innovation and progress in various sectors. One such partnership that has garnered significant attention is the collaboration between Konga, Nigeria’s composite e-commerce group, and Starlink, the satellite internet service provided by SpaceX.
This groundbreaking partnership is poised to revolutionize internet accessibility in the country, bringing about a myriad of benefits for businesses, individuals, and the nation as a whole. For example, educational institutions, business and houses can access internet services anywhere in the country with their enterprise kit.
One of the biggest obstacles to widespread internet adoption in Nigeria has been the country’s vast and diverse geography, which has made it difficult and costly to establish traditional terrestrial infrastructure. Starlink’s satellite-based internet service offers a game-changing solution by beaming high-speed internet directly from space, effectively bypassing the need for extensive ground-based infrastructure. Partnering with Konga has made it easier than ever for Nigerians to access this cutting-edge technology. Those living in remote or underserved areas can now enjoy seamless internet connectivity, eliminating the digital divide that has long plagued the nation.
I am very excited about this partnership because it shows that American companies still have confidence in companies like Konga and in the Nigerian economy. Konga, the exclusive shop in shop ecommerce partner for Apple, Samsung, L’Oreal, and many more has continued to boost the domestic economy with the inflow of foreign direct investments from these global brands with the potential to catalyse economic growth. With this, a lot more deals, I hope, will flow in to ensure a robust and productive market for consumers.
According to a report by the World Bank, a 10% increase in broadband penetration can lead to a 1.38% increase in GDP growth in developing countries. This partnership between Konga and Starlink can open up new opportunities for entrepreneurs, enabling them scale their operations and compete on a level playing field with their international counterparts.
Furthermore, reliable internet access can facilitate academic research and collaboration. This would encourage innovation domestically and allow Nigerian academics and institutions to participate in the global knowledge economy. So, integrating ICT into education will improve learning outcomes, promote digital literacy, and enhance teacher training. By bridging the digital divide, Konga, through Starlink, empowers Nigerian students and educators, equipping them with the skills and knowledge required to thrive in the 21st century.
Beyond the economic and educational benefits, the Konga-Starlink partnership has the tendency to foster social inclusion and empower communities across Nigeria. With access to high-speed internet, individuals can stay connected with loved ones, access online services, and participate in the digital economy, regardless of location. By bringing affordable and reliable internet to areas with limited access, the Konga-Starlink partnership can help bridge the digital divide and ensure that no Nigerian is left behind in the digital revolution.
The healthcare industry in Nigeria stands to benefit greatly from the collaboration between Konga and Starlink. In places where access to specialized medical treatment is limited, healthcare practitioners can use telemedicine systems to facilitate remote consultations, diagnosis, and even surgery, provided they have dependable internet connectivity. In underserved areas especially, telemedicine has promise for increasing access to healthcare services, cutting costs, and improving care quality.
The partnership between Konga and Starlink represents a significant step forward in bridging the digital divide in Nigeria. By leveraging SpaceX’s innovative satellite-based internet service and offering it at an affordable price point, this collaboration has the potential to transform various sectors. As Nigeria continues to embrace the opportunities this partnership presents, the future looks promising for technological advancement, societal development, and global competitiveness.
E-Business
Flexify Solutions Launches CyberAgric App to Revolutionize Agricultural Sector in Nigeria
Flexify Solutions, a leading tech-based firm in Oyo State, has introduced “CyberAgric,” an innovative solution designed to drive food production in Nigeria.
This is in recognition of the crucial role of modern agricultural practices in ensuring food security.
Food security is a top priority for every nation, and Nigeria is no exception.
CyberAgric is a cutting-edge mobile application that leverages artificial intelligence (AI) to support Nigerian farmers, particularly those involved in cash crop cultivation such as cassava and maize.
The app’s groundbreaking features include early disease detection, with the capability to identify diseases like Cassava Brown Streak Disease (CBSD) in cassava leaves within the first two weeks of infection.
By utilizing smartphone cameras, farmers can capture images of their crops and receive real-time analysis and recommendations, empowering them to take proactive measures to protect their crops and ensure optimal yields.
Moreover, CyberAgric is designed to function offline, ensuring accessibility for farmers in remote areas with limited internet connectivity.
Speaking on the significance of CyberAgric, Johnson Oyeniyi, CEO of Flexify Solutions, emphasized the app’s accessibility and educational value. “Our goal with CyberAgric is to ensure that every Nigerian farmer, regardless of their location or internet access, can benefit from advanced agricultural technology,” said Oyeniyi.
“Beyond disease detection, the app serves as an educational platform, providing farmers with the latest agricultural best practices and expert resources.”
Flexify Solutions collaborated closely with Cybermate Technologies to tailor CyberAgric to the specific needs of Nigerian farmers.
The app initially focuses on cassava and maize cultivation, addressing the critical challenges faced by farmers in these sectors.
Through advanced AI-driven disease detection capabilities, CyberAgric aims to mitigate the impact of crop diseases and enhance food security in Nigeria.
Flexify Solutions Ltd is a global company specializing in disruptive digital solutions. With a strong focus on innovation, Flexify Solutions excels in crafting AI solutions optimized for mobile platforms and driving transformative change across industries.
With a proven track record in mobile app development, Flexify Solutions seamlessly integrates cutting-edge AI technologies to create intelligent solutions that resonate with users and drive success.
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