#Nigeria the Budget Office put out 2017 fiscal accounts which showed that FY deficit came in at NGN3.8tr (3.3% of nom GDP) and above the 3% fiscal responsibility act. As usual revenues missed thanks to usual over-optimistic non-oil rev assumptions and higher JV payments
But interestingly, capex spending came in a record NGN1.44tr (1.3% of GDP and around 66% of target) with overall budget execution at 87% suggesting some credibility in implementation despite the costs driven by higher drawdowns by Works, Power and Housing
Debt service/revenues printed at 69% (adjusted for sinking fund payments to retire debt 60%) but up from the 47% in 2016. Overall debt tracked higher due to increasingly more expensive borrowings over the last three years - a derivative of CBN tightening.
Aso Rock picked on the bankers of the opposition in a busy week that also saw it acting coy on personal civil liberties and rolling the carpet for two of the EU’s most powerful leaders. All these occurred while cocoa simply could not find its way to the country’s main ports.
@riversstategov has emerged as the hub and financial nerve centre of @OfficialPDPNig – a position that has seen its governor, @Gov_Wike, as one of the most important figures within the party's ranks, if not its most influential kingmaker.
"Subomi, what's the best #agriculture crowdfunding platform to invest in right now?" If I had a thousand Naira for every time I was asked that question, I would have a tidy sum by now. #Thread#Investment#InvestInYou
During my investment course, I explore at least five different agriculture crowdfunding platforms. I analyse their pros and cons and returns on investment - from 12% to over 100%.
The #NTPR includes significant penalties for non-compliance (a) failure to file TP declaration = ₦10million + ₦10k/month (b) failure to file updated TP declaration/notification = ₦25k/day.
(c) failure to file TP disclosure = ₦10million or 1% of the value of related party transactions (RPT) not disclosed + ₦10,000/day (d) filing incorrect disclosure = ₦10million or 1% of the value of RPT incorrectly disclosed #NTPR.
1/ The first stage is the EXCITEMENT STAGE: U got d idea, u know what u want n u just figure out how to go get it. U can't wait to get started, u r anticipating n excited about d new journey u r about to embark. This stage is laced with slight apprehension as u know
you av not yet av it all figured out. But d excitement out-weight d trepidation. U love ur idea, u love d new job, u love d new skill u r about to acquire n sky is going to be d limit of ur discoveries.
Ur motivation is 100%, u r looking forward to all d people u will meet
in this new journey n all that life has waiting for u.
U started n everything just seems wonderful, d new discoveries r intriguing n u r just discovering all this stuff u don't know about before n becoming aware of all ur new career has in-stored for u. It is fun, u r
At 27, I ensured I had all my professional qualifications. I was a chartered insurer and had an MBA. But, I've learnt in my career that there is no "best" time to start a business or career. Don't give in to fear or #socialmedia peer pressure! ~ Wole Oshin #CustodianMentors
Yesterday, as I considered my glass of single malt whiskey, I remembered a friend who wrote about sleeping with random women. After I read his article, I asked why he did it, since he didn't seem like the "promiscuous" type. He said he just wanted to feel something.
"Life is hard in Nigeria", he said. "I go to work every day and am stuck in traffic for 3 hours. I don't really connect with the people around me, so there's no one to ask how my day went. Each day is the same. I needed to feel something."
There is a silent emergency on a long standing human rights violations and abuse in Northeast #Nigeria, where, even security officials estimated the number of those detained or executed for the crime of guilt by association to over THREE THOUSAND in the past 8 to 9 years.
Hundreds of young men and some women were picked up after a suspected terrorist calls them even once. It doesn't matter what the call is all about or who the caller is to the recipient. The implication can be dreadful to those involved and their families.
Idris Ali was arrested by the DSS in 2013 and remained in custody till date. His 'crime,' a childhood friend of his, got his number and placed a call to him, and because the caller was being trailed by officials, Ali and brother were arrested remained in custody since then.
Kenya government ought to pay the national carrier - Kenya Airways - to fly back home, stranded Kenyan athletes and officials from Nigeria. The flight connection farce at Murtala Mohammed International Airport has now turned into a low-key hostage situation.
Nigeria should not be burdened with unnecessary drama like hosting the African Athletic Championship. They should be allowed to sort out their national problems without dragging everyone down with them.
Kenyan team now back in hotel after failing to fly to Asaba.
.@athletics_kenya executives should request @KenyaAirways to extend flight 533 to Asaba on Monday to pick up the Kenyan Athletes and officials. KQ could come to the rescue of #TeamKenya at the end of the African Athletics Championship in #Nigeria.
#Competence is the capacity to consistently deliver, without being micro-managed. Sometimes, it is assumed competence is about skills or attitude alone. No, it's also about ideology and drive. #Thread#Skills#HR#Management
The ideology behind competence is multifaceted. There's fairness - the belief that one ought to do what one has been contracted to do. There's righteousness - wanting to do the right thing. There's integrity and reliability - keeping your word and keeping to time.
There's a strong desire for quality - a heart that's imbued with the spirit of excellence. It's why you make sure that internal memos don't have typographical errors. It's why your home is as beautiful as your office.
One problem that keeps me awake at night is the recurring outbreaks of #cholera in parts of Nigeria. More worrisome is the water, sanitation & hygiene facilities in our country that contribute to these. In the midst of this, we're finding solutions #NCDCSundayReflections
Over the last five months, States in #Nigeria have experienced outbreaks of #cholera. Although the numbers are now declining, it was hard to get States to prioritise water and sanitation! No reason we should be having #Cholera outbreaks in 2018.
Driving across States in Nigeria (and even within cities), the sight of people openly defecating, refuse poorly disposed, water carriers (mai ruwa) washing their watercans is not rare. We have a situation in our hands with regards to #WaSH
THE OLD MAN'S TALE: I met the old man at a presentation. I was a brand consultant on a large corporate project. The client insisted I sit on a panel to select marketing agencies. The gentleman; old enough to be my father, represented an agency in #Nigeria. #HR#Entrepreneurship
As he stepped in for the presentation, I saw the expression of the young 20-something year olds on the client's side. They were bright eyed top shots from Ivy League Universities. They were recruited to revitalise the DNA of the decades old institution.
I heard the hushed sniggers as they wondered what this "old papa" was doing there. Didn't he have staff capable of running through a PowerPoint?
The first trip abroad that I paid for, was to #Malaysia and #Singapore. I've never understood the average Nigerian's obsession with "Jand" and "Yankee". So, as soon as I could afford to travel abroad, I chose somewhere exotic. #Travel#TravelBae
When I was growing up, I had a strong image of who I wanted to be in life. I wanted to be exposed and have distinct encounters. I wanted to explore unusual things and meet unusual people. #TravelBae
#Singapore & #Malaysia did that for me. I met people I wouldn't ordinarily connect with and listened to them talk about their society and daily lives. I returned from the trip knowing there was a world bigger than #Nigeria. There were people with national problems too. #TravelBae
I just realised why the best business incubators/business hubs succeed. They not only help entrepreneurs to finetune their products and get funding. They also help those entrepreneurs create their first market/demand for their products. #Entrepreneurship#Nigeria
It's not enough to have a brilliant idea or product. Who are you selling to? Where's your market? I always reject the single story of the "extrovert entrepreneur". There are many ways to create a market even if you're not the archetypical hustler. #Entrepreneurship#Nigeria
President Obasanjo once called maintaining Nigeria Airways (NAL) irresponsible. Six years later, one of his successors, despite a petition from former NAL employees appealing for ₦45 billion in severance pay, is shopping the world for an investor for a proposed national carrier.
Between a ferocious fight over revenue sharing, and ignoring the obvious on Boko Haram, bad ideas seem to die slowly, such that it has almost obscured the recognition Nigeria’s music industry got from the world’s largest music label.
The latest #BokoHaram attacks don't suggest a resurgence of the group so much as they demonstrate its resilience, capacity for strategic hibernation and stealth.
They also indicate that the financing with which it procures weapons and its recruitment remain largely uninhibited.
I'm really proud that @myautogenius will hold the first purely tech-focused #insurance conference in #Nigeria. The InsurTech Conference will hold in October 2018.
I've been on the Board of @myautogenius for a while now and these guys are committed to reinventing retail insurance! I believe this is in line with the objectives of the #LiveWithFreedom initiative of the Nigerian Insurers Committee, @youareinsured!
If you are a player in the #insurance industry and you are thinking of innovative ways to use tech, you should register for @myautogenius' InsurTech conference now.
Invited to speak on Strategies of Job Creation in #Nigeria at a Policy Dialogue organised by the Ibadan School of Govt and Public Policy in conjunction with Office of the Vice President & the United Nations Economic Commission for Africa. Looking forward to a productive outing.