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Alternative Plan: How FG Can Use Social Intervention Fund to Accelerate Nigeria

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It occurred to me that this current administration has only four years to make good on its agenda of CHANGE.

With over 1 year of that time spent already, the results so far did not look like the job of transforming Nigeria would be a walk in the park as the election campaigns made us all to believe. 

For example, if we take a look at the area of job creation for youth, from what I can see, not much has really changed in the lives of the average Nigeria youth as current unemployment rates grew worse to 51%.
Thankfully, the federal government of Nigeria seems to be getting their hands dirty trying to fix this. That’s why I took interest in the N500billion social fund; the government’s consolidated social intervention fund capped at N500billion that covers six aspects including: Teach Nigeria Scheme; the Youth Employment Agency; Conditional Cash Transfer; Micro Credit Scheme; Home Grown School Feeding; and Free Education Scheme for Science Students. I am aware that the smartest brain are behind this project, with direct supervision from the office of the Vice President, but I don’t think this money will be well spent nor achieve any major benefit to the economy, based on how it is structured.

Let me explain.
A breakdown of the N500billion shows where the majority of the money will be spent. It might be of interest to you that the YES initiative (N10billion), building of 12 ICT hubs (N15million per one) and STEM programme have meagre allocation from the N500billion fund, yet these are what I expect to have the larger portion to help in creating new industries that will diversify our economy.

It literally seems that the bulk of the fund is for aids: feeding school children, and monthly allocations to others. While it is morally difficult to argue against supporting the less privilege, but how far do you think that the government’s approach of giving aids to its own people instead of empowering them accelerate the economy?

Raise your hands if you think that all the aids that Africa received from US and Europe helped us out of poverty. Many of such aids never really transform the African economy like when the average citizen is empowered with skills.

The message at that level is “not to give aids, but to partner…..”. Andrew Rugasira, CEO of Good African Coffee said it better on CNN and his book tour interview, as he noted that “the solution to Africa’s economic challenges will only be met by Africans innovating and creating valuable products, services and brands at source”.

The same analogy applies to this N500billion “handout” as it seems that the bulk of this money will be spent as aids, and there are so many things that could go wrong, just like the recently scrapped fuel subsidy. But the critical questions to ask is “what values are created after spending half a trillion naira? “

One of the most incredible mathematical equations I learnt is the compound interest. The equation emphasizes the impact that time has on the value of money. So, we are not only destroying the value of the N500billion, we are also not taking advantage of what its future value could be, if spent wisely.

Partnerships not Aids: a new way of thinking CHANGE
I am of the school of thought that government should double up critical investment on socially empowering initiatives that focus on building talents that solve national problems, as these problems, if they remain unsolved will make us dependent as a consumer nation.

One of such social programme is YouWin! I am not in a hurry to say YouWin was successful, but a World Bank report and an expert analysis later, it looks like the world’s Largest Business Plan Competition – YouWin! -compared favorably against benchmarks as a viable job creation tool.

We should implement more of these initiatives and build a structure to make it a critical part of our GDP acceleration programme. Mr President believes that agriculture holds an immense potential for the growth of our economy.

Yes, I agree, but I am biased towards technology, because tech entrepreneurship is responsible for the growth of the most developed economies of the world. That is why the baby steps we have taken in this direction by all agencies of Government, especially under the auspices of NITDA including #StartupFriday, Aso Villa Demo Day and Technology Exchange programme (i.e GOTEX), should be sustained.

We have a lot we can learn from other nations, including supposedly “developing” economies like Chile that started a tech acceleration programme dubbed StartUp Chile which annually brings the best startup founders to launch their programme in the Latin American country, and India who are are building a government that relies on Technology.

We must encourage and support the youth to innovate, and solve local problems with global excellence. This will come at a cost to government. In addition to grants; it will imply granting concession, tax-rebates and “free trade zone” status to early stage startups; encouraging local investors to invest in our startups by giving them tax breaks for those investments like what is obtainable in Europe where high-net individuals that invest in local startups and keep their investments up to three years can benefit from rebate up to 50%. In Turkey, it is reported to be as high as 100%.

But if you ask me, we barely compete on major metrics we should focus on to accelerate Nigeria through technology innovations, instead, we have joined other African countries in attempts to ban everything from the “social media gag bill” to stifling home-grown technology like Remita that wants to help government’s finance become more transparent.

Another casualty of our policy is a young Nigeria with a marketplace business model for digital imagery using drones, but the policy against drone will never make his business to take off. And there are several of us, who are hurt, made lame and efficient just because we are waiting for light (PHCN) to be switched on so that we don’t have to bear the burden of fueling and maintaining generators which for most of us take away 45% of our business expenses. Add to all these challenges, our “doing business” index is so bad to the extent that local startups are choosing to be incorporated in US or elsewhere with one of them Andela, almost getting it’s Nigeria identity “lost in transit” due to this.

This is where I believe we should spend the better part of Nigeria’s intervention fund and make policies to make it happen, so that we (the youth) can create the future for Nigeria.

AUTHOR BIO: Wole Ogunlade is a growth strategist for early-stage startups; he writes about growth marketing topics on his personal blog,SpokenTwice.com and also contributes to leading tech blogs in Nigeria and diaspora. He is a mentor at the 2nd edition of the Tony Elumelu Foundation programme for entrepreneurs. You can connect with him on LinkedIn or Twitter @spokentwice.


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FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

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Dr John Asein, director-general, Nigerian Copyright Commission (NCC), has said that the federal government is taking steps to finalise its National Intellectual Property (IP) Policy and Strategy for the country.

FG to Fnalise National Intellectual Property Policy  Soon– NCC Boss

Asein disclosed this on Friday while commemorating the 2024 World Intellectual Property Day with the theme “IP and the SDGs: Building Our Common Future with Innovation and Creativity’’ in Abuja.

The that the Day is observed every April 26 to celebrate the importance of intellectual property (IP) rights to encourage innovation and creativity.

The director-general was represented by  Mr Emeka Ogbonna, director of Legal.

NCC boss said the policy would serve as a blueprint for a more efficient modern and responsive legal and administrative framework for the country to leverage on its creative and innovative potential.

He said that the day underscored the power of innovation and creativity in achieving the Sustainable Development Goals (SDGs) and shaping a sustainable and inclusive future for humanity.

According to him, the SDGs represent a universal call to action to end poverty, protect the planet, and ensure prosperity for all by the year 2030.

“IP rights play a pivotal role in fostering innovation, creativity, and technological advancements. They provide the framework that encourages men and women to develop new solutions that address global challenges.

“It is the lynchpin for incentivising the use of creative and innovative ideas to solve many of the challenges that confront humanity.

“This year’s World IP Day reminds us that intellectual property can be a powerful tool for social, economic, and environmental development.

“It encourages individuals, businesses, and governments to leverage IP rights to drive innovation, create jobs, and build resilient communities.

“By aligning our intellectual property policies and strategies with the objectives of the SDGs, we can accelerate their achievement,’’ NCC boss said.

He said in the spirit of the “Renewed Hope Agenda’’ of the present administration, government had also shown appreciable commitment to the creative industry as a major sector of the economy.

“As one of the agencies responsible for the wholesome development of the creative sector, the Nigerian Copyright Commission will continue to provide the needed institutional, legal and administrative support for the protection, promotion, regulation and enforcement of copyright.

“The commission will pay particular attention to using the copyright system to advance Goal 1 (No poverty); Goal 4 (Quality education); Goal 5 (Gender equality).

“And Goal 8 (Decent and economic growth); Goal 9 (Industry, innovation and infrastructure) and Goal 17 (Partnerships to achieve the goals).

“We are aware that the goals would have to be adapted to fit the peculiar needs of intellectual property which is an intangible asset.’ ’he added.

The director-general, who said that the commission focused on the 17 SDGs to address emerging challenges, called on authors, innovators, users, IP experts and other stakeholders to reflect on the vulnerability of the nation’s fragile knowledge and creative ecosystem.


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NITDA, ICF Train 100 Schoolgirls in ICT Skills

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The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.

Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.

The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.

Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.

She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.

DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.

The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.

Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.

“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.

This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.

It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.

Mr Kashifu  Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.

According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.

“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.

These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.

ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.

NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.


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Confronting the Google Monolith: Survival Strategies for Online Businesses

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By Reuben Kalu.

In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.

From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.

Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?

The answer, in today’s digital landscape, is a resounding no. You have no choice.

Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.

From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.

Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .

Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.

For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.

But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.

With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.

Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.

 

Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.

With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.

Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.

Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.

From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.

Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.

But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.

With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.

For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.

Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.

In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.

In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.

From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.

While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.

You have no choice.


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