News
Economic Summit Makes Case for Innovation to Transform Nigeria
The WorldStage Economic Summit 2017 held at the Event Centre of the Nigerian Stock Exchange (NSE), Lagos on August 23, with the theme ‘Transforming Business and Economy Through Innovation’ has made a very strong case for innovation in the public and private sectors, noting that the first problem that the nation must solve before the economy can be transformed through innovation is leadership.
In the communiqué of the summit which was graced by top officials from the public and private sectors, it resolved that “Innovation is critical to business and economic advancement, it is not rocket science, it remains the key agent in transforming business and the economy of Nigeria.”
Other resolutions in the communiqué include that, “Innovation is about thinking out of the box and having the courage to implement new ideas; it requires commitment and zeal to do it.
“Failure is one of the driving forces of innovation, people should get used to progressive or positive failure for innovation to be accomplished.
“Development and application of innovation had helped to break the monopoly of some multi-national manufacturers who once dominated the Nigerian market.
“Nigeria needs knowledgeable leadership to solve its problems and can learn from the example of the United Arabs Emirate (UAE) which used to be mere transit point for travellers but has now become a hub of economic activities through innovation spurred by knowledge- driven leadership.
“Nigeria must emulate countries like Bahrain that provided infrastructure and facilities needed for economy to grow.
“Until leaders began to be responsible and do the right things, the country would continue to grope in the dark for redemption.
“It’s the duty of government to provide the space for business to thrive as innovation and creativity are vital skills required by entrepreneurs to transform their businesses.
“Entrepreneurs should consciously search for innovation as they analyse all the opportunities that present themselves before launching into them.
“Effective innovation must be ‘KISS’ compliant, which means (Keep It Short and Simple) and they must address 7Ps which are Product, Place, Promotion, Price, People, Process and Physical Evidence, but the 7Ps can only fly when innovation is applied to each of one of them.
“To build the Nigerian Brand requires conscious effort by the public sector and strong partnership with the Private sector.
“Innovation must be a tool to enhance processes and delivery and to fast track the process of Doing Business in the country.
“Except the status quo is broken in the Nigerian power sector, the economy will remain in comatose for a longer time to come.
“Nigerian power sector privatization was faulty and an uninterrupted power supply must not expect very soon, but the sector will only work when all Nigerians collaborate by killing corruption in the system.
“The woes bedevilling electricity production and supply in Nigeria include politicization, lack of policy continuity by successive administrations, biased reporting by the media and corrupt practices by the general public.
“Application of innovation had led to the discovery of a huge deception by the old order that declared a ridiculous figure of 6.75 million as number of electricity consumers in the Nigeria, as some two million more consumers had been added.
“Government must be consistent in its policies towards reviving the power sector as continuity in the implementation of government agenda is the only way out for Nigeria.
“With efforts by government to put Nigeria in its rightful position economically yet to yield the desired results after many years, all hands must be on deck for the nation to move forward.
“Government must formulate policies that will help the teeming number of young people in Nigeria unleash the potentials in them.
“The general public must be honest in all its dealing if the country is to move forward and the benefits of innovation not elude it.”
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
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.
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.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
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.
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.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
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.”
- Telecom3 days ago
World Earth Day: Kuda Partners with Wecyclers to Clean up Communities in Lagos
- Telecom3 days ago
Airtel Boosts NIPR Public Relations Week with Onsite Unlimited Data Connection
- News2 days ago
UK Pledges €1Bn to Fight against Malaria in Nigeria
- Broadcasting3 days ago
NCC Seeks Media Collaboration on Copyright Infringement
- Editorial2 days ago
Telcos Ask NCC to Allow Them Hike Tariff
- Broadcasting2 days ago
FCCPC to Review Multichoice’s Tariff Hike
- News1 day ago
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
- News2 days ago
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman