FUEL CRISIS: WHICH WAY NIGERIA?

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FUEL CRISIS: WHICH WAY NIGERIA?

On the one hand Nigeria's energy policy requires government to ensure access to energy and it's supply, on the other hand it calls govt to use energy to develop the economy.  See National Energy Requirements Responsibility Act.

The compliance guidelines on Petroleum Industry Act 2021 reveal new legal and governance changes in oil and gas industry, such that makes it difficult for decisions to be taken without consultation with stakeholders.

Yet government is expected to implement the provisions of the Act so as to transform the industry and enable complete deregulated upstream and downstream sectors.

NNPC NEW Private Company was  unveiled on 19th July, 2022 by PMB, amidst incomniums poured on the expectations of the 'new company '. One such expectation is deregularizatioin.

Therefore when the President declared 'fuel subsidy gone', it was in the direction of deregularizatioin.  Hoarding and price hikes had sent pandamonium across the country.  Consequently NLC had to declare nationwide strike to protest the fuel hike.

Like economists would say buyers and sellers commenced the new regime with abnormal profits which is only ephemeral.

The next level would be supply of fuel from any available source provided it makes economic sense. Then in the interim with abundant supply the abnormal profits would disappeared. Normal and stable price would be established by the price system..

The damage (both political and economic) would have been done before sanity returns.

Ikechukwu Odoemelam Esq 

IKECHUKWU O. ODOEMELAM & CO

Legal Practitioners of the

Supreme Court of Nigeria 

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DIRECTORS: Duties & Enforcement http://www.amazon.com/dp/B005783S6S

MEETINGS: Dynamics and Legality - http://www.amazon.com/dp/B005MKCESY

 

GLOOMY, SCARY AND UNPREDICTABLE FUTURE

This episode was half way when I was struck by sudden ill-health... now recovering at God's speed.

Right and wrong decisions are based on resources and information at your disposal, right?

What if you garner vital resources from messages and digital gifts we serve on this platform, and suddenly it becomes extinct.  Wouldn't that affect your decisions? Maybe.

We thank  you for the loads of 'likes'. However, your feedback about the quality and social value of our messages is ABSOLUTELY important to us.  

We'd be delighted to receive your comments: approve or not approve whichever is welcome.

.......

Over the last couple of days energy crisis in Europe has worsened due to the escalated war in Ukraine. 

As was expected, the economic impact multiplied globally giving rise to high cost of living and hunger in Africa and especially Nigeria, as a result of food shortages. 

Clips from the 2022 G20 meeting in Indonesia, paints a picture of imminent catostrophy across the world, unless stringent actions are taken urgently.

Leaders of the group prescribed: "recover together, recover stronger" as a global solution.

But how could that happen as situations worsen. Rather than recovering:

Nigeria's inflation rate has been on steady increase too, since 2020 according to the report of National Bureau of Statistics.

Nigeria has become world capital of poverty, a position prior held by India. Now, 133 million Nigerians are in the bracket of "Multi-dimensional Poor."

Mortgages and share prices are crumbling to level of its comparison with 2008 global economic melt-down.

Education sector is crumbling with no solution in sight. It is so scary that the Education Committee of  UN at the last UNGA77 raised alarm with a call to action.  

"A silent learning crisis is unfolding that has become devastating shock to human capital. ... We urge you the world leaders, to meet this head-on and act to improve learning outcomes for the world".

Our mission on this platform is to propound ideas that provide solutions and move our projects to the next level.

What's your take and approach to excel?

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We invite everyone passionate about innovations and prosperous ideas to quickly join our group to get the report. 

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With gratitude.

Ikechukwu #corporateleaders

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NIGERIA START-UPS ACT 2022

Ikechukwu Odoemelam Esq

#corporateleaders #digitaleducation #digitalskills

The end of the second 'ember' month of 2022.  My opinion, if you ask,  is that the cup is half-full not half-empty.

So today a glinpse at a WEEK OF DIGITAL ENTREPRENURSHIP.

It started with the coming into effect of Nigeria Start-ups Act 2022 earlier.  The object of the Act is to enhance innovations and creativity.  Everyone has something to benefit from the Act.  Think about digitalized professionalism.

Reports say it's the largest Digital Economy in Africa. Of course it should, going by population and size of Nigeria's economy, as well as the depth of digital connectivity.

Digital Economy Industry Working group (DEIWG) has been inauguarated. The purpose of the the platform is to instigate public-private dialogue.

Thereafter Lectures were organized to dissect the scheme and generate ideas for successful implementation. You need to search for the resources and you'd see that so much is in stock for the public, especially entrepreneurs.

For those in Advanced Digital Content Creation, it would be a field day.  Common pools of legal resources would no longer be for high profile law firms and businesses only.

Right now construction of Digital Economy complex that would house Nigeria Start-ups is on the way ..   and speedily too.

The wake up call is for every digital minded people and entrepreneurs to start taking advantage of the provisions of the Act. 

A very good and valuable opportunity if you ask me. 

That's why at IDEA WORKSHOP we've arranged basic digital Start-up skills that beginners would use as foundation for a meaningful online business adventure.

Stop procrastinating, reality is inside of you. Just say you can.

Our mission is to provide the opportunity for you to start implementing those ideas you've been nursing without results.

√DECISION      ...          *Copywriting  

√TRAINING      ...         *Publishing

√SOLUTION.    ...          *Blogging

Your inquiries are welcome. DM as soon as possible as a new batch of training commences very soon.

Your success.

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DIGITAL ECONOMY AND FINANCIAL INTELLIGENCE

With the enactment of Nigeria Start-up 

Act 2022, anxious stakeholders and 

teeming unemployed persons, are

poised to activate various aspects of the

infrastructure for economic

advancement.

The pertinent component to this 

development is financial intelligence.

OnlIne streams of income, e-commerce, 

website-building, content writing, 

payment system providers etc. are 

some of the activities you legitimately 

can engage in.

ICT contribution to GDP has been on the 

increase since 2020. From statistical 

report it was 24.72% at the 1st quarter 

of 2020, 17.92% in 2021, 18.44 in the 1st 

Q of 2022.

With the youths and stakeholders 

making sufficient input into the outcome

of the Act, it's bound to be a welcome 

phenomenon.

National Digital Innovations 

Entreprenurship Council with President &

vice as Chairman and vice Chairman is 

to be established.

According to excited Minister of 

Communications and Digital Economy, 

Isa Pantami, the foundation will 

commence with take-off grant of at 

least N10 billion.

That's another boom to the benefits of 

stakeholders.

It's a new money making platform

leveraging on the power of technology

different from the traditional model.

For increasing number of non-

professionals, various opportunities 

abound to create valuable contents, but 

most of these are not monetized. 

Some have acquired the relevant skills 

and moved on. But for those who are yet

to learn the skills opportunity beckons. 

We're available to teach you how to if 

you partner with IDEA WORKSHOP. Just 

DM indicating interest.

Your progress.

Ikechukwu #corporateleaders

BLOGGER:. https://www.corporate leadersboard.blogspot.com

COLUMNIST: https://www.thenigerianvoice.com/author/iykeOzemena

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DIRECTORS: Duties & Enforcement http://www.amazon.com/dp/B005783S6S

MEETINGS: Dynamics and Legality - http://www.amazon.com/dp/B005MKCESY

 

EVERY ECONOMY THRIVES ON ENTREPRENEURSHIP

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Nigeria is again at the penumbra of transition having run full circle of the constitutional limit of democratically elected government. Despite the slogans and policies put in place for agriculture, food production and prosperous nation, it's on record that Nigerians have been empoverished, with close to 80% of citizens living below poverty line of $1 a day.  There's high inflation with 2015 as a base.

Check the cost of living indices from 2015 to date; what do you find? The common man's staple foods cost as much, if not more than their imported substitutes, that you begin to wonder the sense in banning their importation when we're not ready with domestic supplies. Frustrated consumers become induced economic saboteurs and short changers, although some are deliberate. Earnestly there's a case of cutting the nose to spice the face.

The political class don't seem to have a clue as to how to change the trajectory that brought the economy to where it is right now. Repeating the same trajectory and hoping for a different result?  Doubtful.

THE STORY OF ENTREPRENEURIAL SPIRIT: 

The level of food crisis in Nigeria today has necessitated the sad story of this fallen hero of entreprenurship. Entrepreneurship and leadership often emerge from crisis and emergencies like Kentucky fried chicken global food vendor. Kentucky is one entreprenurship venture that makes US economy thrive.

Until his death October 2022, USMAN ABUBAKAR RIMI was a Final-Year Medicine and Surgery student of Usman Danfodiyo University Sokoto, UDUS and an indegene of Rimi LGA in Katsina State. According to Umar Idris, Chairman of 21st Century Entrepreneurs Hub and an ally of the deceased, Rimi had leadership and entreprenurial spirit, and was the Katsina State coordinator of 21st Century Entrepreneurs Hub. It was in that capacity  that he coordinated the Global Entrepreneurship in 2019 and 2020.

As a result of the prolonged ASSU strike, the entreprenurial spirit drove Rimi to establish Food Vending/Indomie joint at the diplomat area of Sokoto state to earn income as the strike action continued. It could only be someone with the entrepreneurial disposition like Rimi that did that. I was pained to read of his demise just days before going back to school to graduate. What a monumental losses!

Ikechukwu #corporateleaders

BLOGGER:. https://www.corporate leadersboard.blogspot.com

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