News
PwC at Workshop Identifies Journalists’ Key Roles in Sectorial Reportage
The PricewaterhouseCoopers (PwC) network, in recognition of the place of the media, generally and, journalism in particular, in entrenching good governance, sustenance of democracy, and ensuring a conducive climate for investment and economic development, organized a Capability Enhancement Workshop for Journalists in Lagos, last weekend.
Uyi Akpata, country senior partner, Nigeria and Regional Senior partner for PwC West Market Area, said the initiative was in recognition of this indispensable role of the media especially in the areas of finance and business reporting.
The workshop, in its second year, was developed to help financial journalists improve the contribution they make in terms of their reporting and to ensure an in-depth analysis of the subject, he said.
The workshop had a rich outline of topics including Understanding & Reporting the Budget; Economy and Monetary Policy; the Oil & Gas Value Chain and Impact on Crude oil & gas pricing; Governance & Corporate Reporting; ICT as a major advancement tool in Nigerian Media Practice. Business reporting is particularly challenging for journalists because it is an extremely diverse area involving a complex and technical range of issues covering policy, tax, economics, finance, governance as well as financial reporting.
According to Akpata, “We recognise that it takes extreme care and skill to get a business story right, and convey it to the public in a manner that is factually accurate, yet comprehensible and easy to understand. We are therefore partnering with the media to demonstrate our commitment to high-quality journalism in Nigeria”.
Key Take Away from the Workshop
Understanding and Reporting the Budget
According to Taiwo Oyedele, partner, head of Tax & Regulatory Services, PwC, aligned with the school of thought that budget is the second most important document of a country next only to the Constitution.
He defined a budget as “simply a plan of revenue and expenditure over a specified period of time. It provides the framework on which the government’s key policy agenda is built and implemented. Given the federal system of government in Nigeria, detail allocation of revenue and resources across the different tiers of government as well as government departments, ministries and agencies is part of the budgeting process”.
He therefore, said that the budget is an important tool for identifying sources of revenue, allocate the scarce resources in an efficient manner, and ensure effective implementation of the strategic goals that should improve the welfare of the people. “In terms of transparency and accountability, the budget provides a framework to measure the performances of political office holders and for stakeholders and the public in general to demand accountability for the resources of the country. Legal bases and reality check Based on the law, the Constitution requires that there must be a budget.
“Section 81(1) provides that the President shall cause to be prepared and laid before each House of the National Assembly at any time in each financial year estimates of the revenues and expenditure of the Federation for the next following financial year.
“In section 81(2), the heads of expenditure contained in the estimates (other than expenditure charged upon the Consolidated Revenue Fund of the Federation by this Constitution) shall be included in a bill, to be known as an Appropriation Bill (that is, Budget), providing for the issue from the Consolidated Revenue Fund of the sums necessary to meet that expenditure and the appropriation of those sums for the purposes specified therein. The Fiscal Responsibility Act also requires a cash plan and schedule of disbursement within 30 days of enactment of Appropriation Act.
“In addition, quarterly reports are to be prepared within 30 days of the end of each quarter.
“Unfortunately in reality, the budget is usually presented late by the Executive with further delays in debate between the executive and legislature on less important issues bordering on benchmark oil price rather than revenue generation. Also, very little information is provided regarding actual implementation.
“Salient Questions and Food for thought. Certain questions must be addressed for change to happen rather than sustaining the status quo.
“These include: 1. why do we start our budget from a zero base every year? What happens to the unspent amounts from previous years due to budget under-performance?
“3 2. Why do we not subject actual implementation to value for money audit? The question is whether what “it is” is as good as “what could have been”. 3. Should Nigeria continue to depend on crude oil to drive our budget? How do we diversify our source of revenue? 4. How do we ensure that the budget is prepared and approved timely and actually serves its purpose and not just a “tick-the-box” exercise.
Concluding Thoughts
When analysing the budget, journalists must be able to read between the lines. It is often what has not been said that is more important that what was actually said; Learn to connect the dots from one period to another and also with respect to different components even within the same budget. For instance, it will be useful to relate Debt to GDP ratio versus debt service to total revenue; budget deficit and capital expenditure; subsidy and oil benchmark etc and The media needs to track performance and report over the entire period not just during the budgeting process; Tell a story, give statistics, and a balanced perspective.
Also, ensure accuracy of information, do research, speak to experts; Ask the right questions even if they are difficult and Be creative, give substance -don’t just collate information We hope there will be a positive change in our approach to Budgeting as a nation with significant improvement in level of implementation and ultimately transparency and accountability.
ICT: A Major Advancement Tool in Nigerian Media Practice
Mr. Joseph Iruafemi, business/lead strategist, Web-Fair Solutions and co-director, Founders Institute, urged media practitioners to embrace modern technologies to enhance their performances.
Iruafemi said that with software, virtual newsrooms are possible; where news-gathering and editing are done real-time through collaborative-editing tools, cloud-sources, between the reporter and the editor.
He added that with iReports, news platforms in the country have empowered the people to be part of the news gathering, although authentication of the news credibility has posed greater challenge.
On news dissemination, he said with over 90 million Nigerians having access to the internet, searching for credible news, the onus falls on the professional journalists to harness the opportunity to better their worth, while repositioning the nation in the comity of new world information order (NWIO).
“Is it possible for us to have a website that coverts words to audio, because most young people prefer to listen to audio to reading letters/words. We are in an era of software for micro-contents; where media houses partner the telecoms on additional news contents dissemination. This will help in expanding the horizons of the media and the readership will broaden,” he suggested.
He further urged the participants not to allow the social media to wrestle the pen from their hands, adding that authentication of reports and analytical reports would always endear the conventional media to the readers’ heart.
The World Bank Group has announced the 31-month debarments of United Aviation Services Limited (UNASEL), a transportation services company based in Nigeria, and Air Vice Marshal Alkali Mamu, its owner and president, “in connection with fraudulent practices under the Enhancing Niger Northeastern Connectivity Project,” according to a press release issued by the multilateral development bank.
The statement said that the project aims to enhance connectivity and road safety along the Zinder-Agadez Road section and improve access to basic socioeconomic infrastructure for selected communities in that road section.
However, according to the statement: “UNASEL and Mr. Mamu presented false experience documents in a prequalification application to qualify for a contract under the project. This was a fraudulent practice under the World Bank’s sanctions framework.”
“The debarments make UNASEL and Mr. Mamu ineligible to participate in projects and operations financed by Bank Group institutions. The debarments are part of two settlement agreements under which UNASEL and Mr. Mamu admit culpability for the underlying sanctionable practices,” it added.
The statement further said: “Per the Bank Group Sanctioning Guidelines, the settlement agreements provide for a reduced period of debarment in light of UNASEL and Mr. Mamu’s cooperation.
As a condition for release from sanction under the terms of the settlement agreements, UNASEL and Mr. Mamu commit to developing and implementing integrity compliance measures that reflect the relevant principles set out in the Bank Group Integrity Compliance Guidelines, and Mr. Mamu further agrees to complete corporate ethics training.
UNASEL and Mr. Mamu also commit to continue to fully cooperate with the Bank Group’s Integrity Vice Presidency.
“The debarments of UNA SEL and Mr. Mamu qualify for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions that was signed on April 9, 2010.”
Governor Peter Mbah of Enugu State, has approved the allocation of a parcel of land in Enugu, the state capital, for the establishment of a state-of-the-art Digital Fabrication Centre by the Industrial Training Fund.
Mbah announced this while receiving a delegation from the Industrial Training Fund on a courtesy visit to the Government House, Enugu.
The ITF disclosed this on Friday in a statement signed by its Director of Press and Public Relations, Thomas Ngor.
According to the statement, Mbah described the proposed project as timely and aligned with his administration’s vision of transforming Enugu into a leading destination for investment, innovation and technology-driven industrial development.
He noted that the future of economic prosperity lies in deliberate investments in human capital and emerging technologies, adding that the state has continued to create an enabling environment for innovation, enterprise and sustainable growth.
The governor explained that his administration has made technical education compulsory in the state’s basic education system, with emphasis on digital literacy, robotics and mechatronics to prepare learners for the future of work.
According to him, many traditional trades are now driven by digital technologies, making it imperative to equip young people with relevant technical competencies that will enable them to compete globally and contribute meaningfully to economic development.
Governor Mbah further disclosed that his administration has built smart schools across the state, equipped with robotics centres, mechatronics laboratories and other modern learning facilities, to prepare youths for the evolving global economy.
He noted that artificial intelligence is expected to contribute about $20tn to the global economy in the coming years.
He therefore stressed that the state must be intentional about upskilling its citizens, adding that the establishment of the ITF Digital Fabrication Centre will significantly strengthen the state’s drive to build a knowledge-based economy, foster innovation, promote local manufacturing and create employment opportunities for its growing youthful population.
Earlier, Afiz Ogun, the Director-General of the ITF, who led the delegation, said that upon his appointment by President Bola Tinubu, he was mandated to upskill Nigerian artisans to international standards.
He explained that the Fund subsequently repositioned its technical and vocational skills development efforts through strategic initiatives, including the Skill-Up Artisans Programme, which is designed to train, certify and license Nigerian artisans to international standards.
Ogun disclosed that the Fund had already established a Digital Fabrication Centre in Ikeja, Lagos, with the capacity to produce more than 400 different products. He therefore requested the allocation of land in Enugu State to establish a similar centre with the same production capacity.
According to him, the initiative is aimed at promoting industrialisation, reducing dependence on imports and preparing Nigerians for opportunities in the Fourth Industrial Revolution.
He also reaffirmed the Fund’s readiness to enter into public-private partnerships that will transform Nigeria’s artisanal ecosystem.
Ogun further noted that digital technologies, including artificial intelligence, robotics and computer-aided manufacturing, are rapidly transforming the global economy, making it imperative for Nigeria to deliberately invest in upskilling its workforce to remain globally competitive.
The ITF delegation was later conducted on a guided tour of facilities at one of the smart schools established by the Enugu State Government.
Glovo, a multi-category tech company, has announced its integration into the generative AI ecosystem with the launch of its “Shopping Assistant” for ChatGPT and Claude. Users can now discover retail products, compare prices, and seamlessly order any item using natural conversational language with the AI systems.
The Glovo experience inside such platforms introduces a conversational commerce model that shifts from a search-based web to an intent-based web. Rather than navigating traditional app menus and filters, users can express needs, such as asking for a “last-minute gift for a coffee lover under ₦50,000”, and the assistant handles semantic search, location validation, and product curation.
A Seamless, Concierge-Like Experience
Once both platforms have been connected through either ChatGPT or Claude apps, the user will be able to have a multi-turn dialogue where the assistant remembers context and constraints, such as budget caps. Users receive a visual carousel of up to five highly customised product options available at local stores. Each product displays its image, name, store details and ratings, and price. While the search and discovery experience takes place directly on the Generative AI platforms, selecting a product via the “view on Glovo” button takes the user to the Glovo mobile or web app, where the payment and final purchase are exclusively completed.
Strategic Focus on Retail and Growth
Glovo is prioritising the retail and grocery sectors for this initial launch, capturing the established habit of using AI for product research. Generative AI has driven a significant jump in retail traffic globally, so this first-mover advantage aims to meet customers where they are meeting Gen AI daily, and ensure it captures high-intent organic traffic as search behaviours evolve.
“We’re always looking for ways to meet our customers where they already are. Being available on Claude and ChatGPT means people can discover what Glovo has to offer as part of a natural conversation, with no friction. Glovo has always been about being the everyday app that provides choice and convenience, and this is another step in that direction”, said Shiro Theuri, Chief Technology Officer at Glovo.
How to look for products in the Glovo app through ChatGPT or Claude
- The user must sync ChatGPT or Claude with the Glovo app with the plug-in.
- Once synced, the user must type in @glovo followed by their request.
- The AI platform displays a carousel with 5 available options for the user.
- If the user wants to purchase any of the products or continue searching within the Glovo app, they must click “View on Glovo”, which will redirect the user to the Glovo app or website.
- After the order is confirmed, the store will prepare the item(s) and the courier will head up to the pick-up location. The user will receive the order in minutes.
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