General News
Austin’s Five Forces Model for Analysing Sustainable Development
By Austin Okere
The sustainability challenge is becoming clearer. Being a Consultant at the Sustainable Development Goals, Africa Centre (SDGCA) in Rwanda and on the Global Agenda Council of the World Economic Forum (WEF) has exposed me to the global framework for economic growth that protects the fundamental pillars of humanity and the planet.
The SDGs are about People, Planet, Prosperity and Peace – and about driving development in an inclusive way that leaves no one behind. These tenets were further reinforced through my interview with Professor Paul Romer, Nobel Laureate, and former Chief Economist at the World Bank.
I see Five Forces driving sustainable growth as follows – Organizations, Population, Enablers, Infrastructure, and the Socio-Political Environment. I have codified below, the relation between these forces in the in a model which I call the Austin’s Five Forces Model for analyzing Sustainable Development.
Below are the Five Forces and how they impact sustainability:
- Organisations – providing jobs for the population for shared prosperity
- Population – a large social group subject to the same political authority and dominant cultural expectations. This is the source of skilled labour to the organisation and who in turn contribute to the welfare of society
- Enablers – institutions and mechanisms necessary for supporting efficient and equitable pursuance of opportunities in the society. They may include regulation, education, healthcare, and technology among others
- Infrastructure – the basic physical and organizational structures and facilities needed for the operation of a society or enterprise. They include housing, ports, roads, power, and communication
- Social-Pollical Environment – the central values of society, politics, culture and public opinion, as well as the assurance of security and the adherence to rule of law that governs the society
ORGANISATIONS
At the heart of providing jobs is the organisation, public, private, start-ups and non-governmental.
A commonly held truism is that government alone cannot provide all jobs and is not big enough to shoulder the entire economy. Take Nigeria for example, in real terms, government spending at 5.7% of GDP (2019) means non-government economic activity accounts for almost all of GDP (about 95%). Among OECD economies, business activity accounts for 72 percent of GDP with monetary flows from labour income, capital income, taxes, investment in capital assets, and payments to suppliers. It is this crucial force that needs to be enabled to unleash economic growth.
In many economies, 80% of the jobs are provided by entrepreneurs. They are responsible for most of the advances in new products and processes, provide most of the employment opportunities and are a key indicator of the overall performance of an economy.
In Nigeria, while there are only about 161 companies listed on the Stock Exchange, the total number of MSMEs as of 2019 stood at 41.5m according to the National Bureau of statistics. Just imagine the scale of jobs that will be created if each of these businesses is empowered to employ just only one additional person.
POPULATION
A developing society is based on the ideal by which equality of opportunity is available to any member, allowing the highest aspirations and goals to be achieved. While society in the past was split between the haves and have nots, society today is split more into those who are included and those left behind.
This inequality is more significant in emerging markets, where 80% of the world reside. According to the National Bureau of Statistics, the unemployment rate in Nigeria is 32.6%, while the youth unemployment rate (15-24 years) in 2020 was 58.3%.
Young people who cannot find jobs still need to eat. With few legitimate options, illegal means become attractive.
Research has shown that youth unemployment increases all sorts of crime. It is estimated that by 2050, Africa’s population will double, reaching 2.5b people – just about the current combined population of India and China. Without a credible plan towards sustainable employment, this could be a ticking bomb.
What is more worrisome is that while the population grew at a rate of 2.6%, the GDP growth rate was lower at 2.2% in 2019 according to the World Bank.
ENABLERS
Enablers are institutions and mechanisms which remove economic blockages and open economic arteries. Anything that enhances economic activity to a community will culminate in an economic driver for the society. Regulators are one of the most critical enablers of a society.
Regulators, however, tend to be either a source of support or a headwind against progress. The regulator should not constrict the pursuit of opportunity nor act in a manner to entrench protectionism.
While Nigeria has become one of the world’s fastest-growing technology markets, attracting investments of over $216m in the first quarter of 2021 alone, there is a palpable apprehension among technology start-ups, after a series of regulatory headwinds from different government bodies.
These include the Central bank of Nigeria’s ban on cryptocurrency trading and the Security and Exchanges Commission’s clampdown on technology platforms for purchasing shares in foreign companies outside the Commission’s regulatory purview and registration.
Until more people think they can successfully start businesses and prosper, we will not have enough jobs in the economy. Other significant enablers are health and education. On the supply side for jobs, the education system needs to be set up so that people leaving, either at the secondary or university level have employable skills.
The most significant enabler in modern times is the Technology Platform. These Platforms provide a means of significantly extending services at low-cost efficiencies, and as a result draw many people into the consumption pool, while also creating many jobs along the value chain which would otherwise simply not exist. Technology Platforms have heralded an era of unprecedented inclusiveness.
For instance, MPESA the popular payment system had more than 60% of Kenya’s 33 million mobile users and in 2015 transacted $28m on her platform. Similar applications have metamorphosed across Africa, and Mobile Money services are today generating 6.7% of Africa’s GDP.
Platforms have made it possible to reach far more than our traditional schools can cater to, by leveraging Massive Open Online Courses (MOOCs). Research and Markets forecast that e-learning will grow to $325 Billion by 2025 from $107b in 2015.
The Covid-19 pandemic has severely tested many sovereign health systems, and many have been found significantly wanting.
INFRASTRUCTURE
Infrastructure speaks to facilities needed for the operation of a society, and includes power, ports, transportation, communication, housing, and not least, broadband to homes and offices. This has now become imperative due to the increase in digital transformation, largely driven by the Covid-19 pandemic. A lack of these will severely constrict the smooth production and delivery of goods and services.
By 2050, the infrastructure needed for the 2.5b Africans will be unprecedented in the history of humankind; 700m housing units, 300k schools, and 100k health centres. Can you imagine Africa without a significant network of rail or a functional underground transport system in 2050?
The UK’s Underground Tube system moves 1.35b people annually and has been operating for about 150 years. African Countries such as Ethiopia and Kenya are making strident advances in rail transportation.
The biggest infrastructure drawback, however, has been electricity. Almost half of the people living in Sub-Saharan Africa do not have access to electricity. The attendant impact on entrepreneurship can only be imagined. If Africa were able to achieve in power what she has achieved in telecoms the impact on sustainable development would be immense.
SOCIO-POLITICAL ENVIRONMENT
Nothing impacts sustainable growth as much as a stable socio-political environment. it enables the attraction of capital for rapid economic development. The rule of law is paramount for a stable polity. Any society that does not abide by some code of conduct whether in public or private matters tends to become chaotic, and virtually ungovernable.
The blind application of the law without regard to status, tribe or creed is what enshrines deterrence. It is the pursuit of deterrence that drives developed countries from sparing any high-ranking members of the society who fall foul of the law, not least their leaders, who are held to a higher account.
When we analyse the conduct of the people from rich and developed countries, we observed that a majority abide by the following principles of life: ethics, integrity, responsibility, the respect of most citizens for the rule of law, pride in their work, the effort to save and invest, and the will to be productive and punctual.
In poorer countries, a small minority follow these basic principles in their daily lives.
A society is not poor because they lack natural resources or because nature is cruel to them, but rather because they lack the right attitude. Conscience is usually thrown out, and justice is on sale to the highest bidder; this is what is known as a market society.
Russian American writer and philosopher, Ayn Rand succinctly sums it up as follows:
“When you see that in order to produce, you need to obtain permission from men who produce nothing – When you see that money is flowing to those who deal, not in goods, but in favours – When you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you – When you see corruption being rewarded and honesty becoming a self-sacrifice – You may know that your society is doomed.”
According to Yury Fedotov, Executive Director, United Nations Office on Drugs and Crime,
“Corruption represents a major threat to the rule of law and sustainable development the world over. It has a disproportionate, destructive impact on the poor and most vulnerable, but it is also quite simply bad for business.”
The sustainable development of any society depends on where they lie on the spectrum of these critical five forces.
Where does your society lie?
Credits to Professor Michael Porter for the term “Five Forces Model”
Austin Okere is the Founder of CWG Plc, the largest security in the technology sector of the Nigerian Stock Exchange, and Entrepreneur-in-Residence at CBS, New York.
General News
Tripoint Travels Hosts Pre-GEC Brunch for Nigerian Delegates Ahead of Global Entrepreneurship Congress 2025
In a vibrant celebration of national pride, global relevance, and entrepreneurial drive, Tripoint Travels, the official logistics partner of GEN Nigeria hosted an exclusive pre-congress brunch for Nigerian delegates attending the upcoming Global Entrepreneurship Congress (GEC) 2025.
Held at Tripoint’s Lagos headquarters, the event brought together top entrepreneurs, investors, ecosystem leaders, and government officials, including Dr. Peter Bamkole, Deputy Vice Chancellor, Pan Atlantic University; Dr. Olawale Anifowose, Managing Director of the Global Entrepreneurship Congress Nigeria (GEN Nigeria); Dr. Babangida Ruma from The Katsina State Enterprise Development Agency (KASEDA), Mrs. Uche Uzoebo, CEO of the Shared Agent Network Expansion Facilities (SANEF) Limited; Actor and influencer Mr. Umar Gombe; along with other distinguished guests and representatives from various government bodies, all in anticipation of their journey to Indianapolis, Indiana this June.
The Global Entrepreneurship Congress (GEC), Organized annually by the Global Entrepreneurship Network (GEN), the GEC brings together more than 5,000 participants from over 200 countries, including Entrepreneurs, Investors, Policymakers, Researchers, & Support organizations to build stronger entrepreneurial ecosystems worldwide. Since its inception in 2009, the GEC has become a cornerstone of international collaboration and entrepreneurial innovation.
This year’s GEC, hosted in partnership with the Indiana Economic Development Corporation (IEDC), marks the Congress’ return to the United States after 16 years. Held in Indianapolis from June 2–5, 2025, the event aims to spotlight Indiana’s pro-growth business climate while strengthening global ties that promote sustainable economic development and innovation.
The brunch allowed the delegation to connect in an intimate and engaging setting, sharing expectations, ideas, and goals ahead of one of the most impactful convening in the global entrepreneurship calendar. Designed to build camaraderie, align visions, and foster a sense of shared identity, the event emphasized the importance of collaboration as Nigerian representatives prepare to take the global stage.
“The Global Entrepreneurship Congress is not just a conference, it’s a platform that is deliberate about global innovation meeting local action, said Mrs. Shuhda Muhammed, Founder of Tripoint Travels. We wanted to set the tone for our delegates, to ensure that they feel connected to this year’s theme – The Bold Change the World, as well as foster the necessary collaborations to make that happen at the local and global stage.. As a company rooted in both logistics and empowerment, we are proud to play a role in making their journey seamless and meaningful.”
Speaking at the event, Dr. Olawale Anifowose, Managing Director of the Global Entrepreneurship Network Nigeria (GEN Nigeria), emphasized the significance of the Global Entrepreneurship Congress (GEC) as both a meeting point and a growth platform, where Nigerian entrepreneurs engage with global ecosystems to connect, learn, and thrive. He noted that Nigeria’s presence at the GEC is not just symbolic but essential, reflecting the country’s growing influence in the global entrepreneurial landscape. Dr. Anifowose also commended Tripoint Travels for their pivotal role as a trusted partner in mobilizing Nigeria’s brightest talent and making the journey to GEC 2025 a reality.
GEN Nigeria has emerged as a critical force in supporting entrepreneurship at the grassroots and policy level, and with a Partner as Tripoint Travels, its expansive network and initiatives, continues to actively shape the country’s innovation landscape, championing inclusive growth, and equipping thousands of Entrepreneurs with the tools, exposure, and networks needed to succeed in both local and international markets.
With delegates selected for their contributions to Ecosystem building and Entrepreneurship, Nigeria’s representation at The GEC 2025 would reflect the country’s diversity, resilience, entrepreneurship spirit and creative potential. The presence of Founders and Innovators like Mr Rotimi Awofisibe – MD, VFD bank, one of the officially invited participants, is testament to Nigeria’s growing influence in the Global Entrepreneurship arena.
“We’re proud to be a longstanding partner of GEN Nigeria, supporting the Entrepreneurs shaping Nigeria’s future. Attending the Global Entrepreneurship Congress (GEC) is about learning, contributing, and returning with a renewed, broader vision. It’s through committed partnerships like ours that such visions become reality,” said Mrs. Muhammed.
More than just a travel management company, Tripoint Travels is a trusted enabler of dreams, mobility, and opportunity. As GEN Nigeria’s official travel partner for GEC 2025, Tripoint is overseeing every aspect of the delegation’s journey, from visa coordination and flight logistics to accommodation and ground transportation, ensuring a seamless and empowering experience.
Tripoint Travels also extends its commitment to ecosystem development through Tripoint Academy, its nonprofit arm that supports early-stage entrepreneurs with training, mentoring, and access to local and global opportunities. Tripoint’s partnership with GEN Nigeria reflects its broader mission: to use travel as a tool for empowerment, education, and national development.
“Every single ticket we issue is a bridge, a bridge between where someone is now, and where they’re meant to be,” added Mrs. Muhammed. “We don’t just book travel. We open up the world for Nigerian entrepreneurs.”
The highlight of the Pre-Congress brunch was the piece of art done by all the delegates present at the event. The interactive art was introduced as an inclusive way to showcase the multiculturalism and pivotal position of the Nigerian business mind, and so the essence of the Nigerian delegation materialised through the painting. The art work will be exhibited and gifted at a special event during the Congress.
Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, on Wednesday said that no fewer than twelve federal universities will benefit from high-fibre digital infrastructure before the end of the year.
In addition, some Nigerian universities are set to begin enjoying 24-hour electricity supply to enhance teaching, research, and learning on campuses, according to the Minister of Education, Dr. Maruf Alausa.
Dr. Tijani disclosed this at the commissioning of a High-Fibre Digital Facility at the University of Abuja’s old Boys Hostel. He said the initiative aims to equip students with digital skills and access needed to explore emerging opportunities in the global tech ecosystem before graduation.
Citing examples of young Nigerians who have successfully built billion-dollar online payment firms, Dr. Tijani urged students to leverage the digital infrastructure being provided by the current administration to develop themselves and build a future in tech.
The project is a collaboration between the federal government, Galaxy Backbone Nigeria Ltd, Huawei Technologies Nigeria, and other tech firms. It will deliver free Wi-Fi services across campuses, serving as a digital equalizer for students.
Present at the inauguration were the Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa; the National Commissioner for the Nigeria Data Protection Commission, Dr. Vincent Olatunji; the Managing Director of NigComSat, Mrs. Jane Egerton-Idehen; and the Postmaster General of the Federation, Mrs. Tola Odeyemi.
Also the Vice chancellor of the University of Abuja, Prof Patricia Lar and the institution’s Registrar and the Managing Director of Huawei Technologies Nigeria, Mr Teorens Wu attended the event.
Dr Tijani further said digital inclusion was necessary especially for the students to navigate contemporary challenges and become successful in the digital space without waiting for white collar jobs on graduation.
He said the University was the first of the seven universities for the first phase of the pilot scheme. And that by the end of June, they would have connected the seven universities for the first phase.
“This initiative we are launching here today is the first of the seven in a pilot scheme, and by the end of July, we will have connected the seven universities”, he said.
“Galaxy Backbone has the infrastructure in place already; all we are doing is to take the fibre to hostels,” the Minister added.
“Your challenge today is what you do with the knowledge that you’re being given. And this is why to actualise the dream of our president, we’ve taught it to be important that Nigerian university students cannot continue to learn without access to meaningful connectivity.
“It is unacceptable because we know when we give you this access that not only are you going to be better in what you’re learning, but you’re actually going to create the future that our president is asking that we create as a nation”, Dr Tijani said.
Dr. Alausa, on his part, noted that the University was a special institution selected by the government to enjoy a 24-hour power supply. And that other special institutions will enjoy 24hrs power before the end of 2026.
“The president is energising institutions. We have special institutions in the country today enjoying 24-hour electricity via the presidential renewable mini-grid project, the solarisation project.
“The University of Abuja is one of the beneficiaries. You have a 3.3 megahertz mini-grid here and everybody can attest to it now that you have a 24-hour electricity supply.
“The president is not stopping there. Before the end of next year, all the special institutions will have a mini-grid. You will all enjoy a 24-hour electricity supply, “Dr Alausa said.
The Acting Vice Chancellor, University of Abuja, Prof. Patricia Lar in her welcome address described the project as a laudable one that would benefit the school community.
“It’s a special initiative that’s going to create opportunities for students of all economic status to access data to be able to use for knowledge and education, and to feed their creativity with ease.
“We are grateful for deploying fibre to our hostels. This also works with the solar power backup that has been installed in our campus,” she said.
Nigeria has approved a fresh $500 million replenishment of the Nigeria Trust Fund (NTF) at the African Development Bank (AfDB), extending the facility for another 15 years.
President of the AfDB, Dr. Akinwumi Adesina, announced this during his opening remarks at the ongoing AfDB Annual Meetings in Abidjan as he expressed deep appreciation to President Bola Ahmed Tinubu and Vice President Kashim Shettima for their continued support.
“To President Bola Ahmed Tinubu and to Vice President Kashim Shettima, for your support over the past two years, I am profoundly grateful. Thank you for graciously approving the replenishment of the Nigeria Trust Fund for another 15 years for $500 million.”
The Nigeria Trust Fund (NTF) was set up in 1976 through an agreement between the Nigerian government and the African Development Bank Group. It’s a revolving fund that sustains itself over time and is designed to support the development of low-income African countries in need of concessional financing.
The fund can be used in a number of ways—either to co-finance projects alongside the African Development Bank and the African Development Fund (ADF) or to finance projects independently. It supports both public and private sector initiatives and can also be used to top up funding for ongoing Bank Group-backed projects.
Unlike the ADF, which allocates funds to countries, NTF resources are tied to specific projects. This allows for more flexible, needs-based support where it’s most effective.
SEC Alerts Public on Silverkuun, Trending Dubious Investment Schemes
Glo, Huawei, Communications Ministry Bring Digital Services to Abuja Village
PalmPay Launches CSR Initiatives to Empower Women, Foster Financial Literacy in Northern Nigeria
Tripoint Travels Hosts Pre-GEC Brunch for Nigerian Delegates Ahead of Global Entrepreneurship Congress 2025
Africa Cross-border Payments Set to Hit $1 trillion by 2035
E-Financial3 days agoFidelity Bank Plc Wins 2025 DBN Innovation Award for MSME Support
E-Business3 days agoNigeria Among Hotspots as Kaspersky Warns of Rising Ransomware Threat in Africa
Telecom2 days agoMTN Nigeria Invests ₦900Bn in 2025 to Boost Network Quality in Lagos & Abuja
E-Business3 days agoNDPC Probes Suspected Data Breach in Examination Centres
Telecom3 days agoVitel Wireless Completes Interconnectivity with all Major Telcos in Nigeria
Telecom3 days agoMTN inducted into Brand Africa Hall of Fame
Telecom3 days agoeBusiness Life Girls In ICT: Stakeholders Call For More Action On Girls Participation In ICT
Telecom3 days agoLayer3 Wins Big at African Beacon of ICT Awards 2025