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NACETEM DG hints on reasons small businesses are dying in Nigeria

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… Proffers Solutions

Many entrepreneurs lack resources management know-how. Some even lack basic skills on bookkeeping. Most importantly, many delve into entrepreneurship without engaging in opportunity analysis.

These are the words of the Director General, National Centre for Technology Management (NACETEM), Engineer (Prof) Okechukwu Ukwuoma during a recent chat with an online news platform in his office.

NACETEM is an Agency of the Federal Ministry of Science and Technology (FMST) saddled with the responsibility of training middle-to-high level manpower in the areas of science, technology and innovation management.

In his assessment of entrepreneurship ecosystem in Nigeria, Prof. Ukwuoma said that inability of young people to research about the environment and products/service lines they are venturing into could be blamed for the increase in sudden collapse of small businesses in the country.

In his words, “Opportunity Analysis implies that when you are setting up a business you scan the environment to understand what is there and what is needed.

“It could be what is available but not in sufficient quantity. It may be what is available but not well packaged. Once you focus on that scarcity then you have a business. But when you come into a system that is already saturated, the people already in that market may be diversifying, yet you are just coming in, then it will be difficult to strive.

“These are some of the major reasons hundreds of small ventures that come up hardly will ten per cent survive the second year. Once the environment is saturated and you come in, it is usually difficult to break even. But if you move out and understand what people really need it becomes demand-driven entrepreneurship”.

He said that these are part of the things NACETEM try to impact on potential startups or SMEs.

When asked his view about ongoing debate that the one-year mandatory National Youth Service Corps (NYSC) for Nigerian graduates should be redefined to inculcate entrepreneurial skills in the members, the NACETEM DG said, “This year, as an Agency we wrote the NYSC that we would like to come to orientation camps to train the Corps Members on entrepreneurship. But you know sometimes, when people are not interested in a proposal, no matter how objective and noble it sounds it would witness bottleneck. The Osun State NYSC secretariat directed us to write to the National Headquarters because they already have their programmes.

“In Enugu we were even asked to pay to mount a stand, which I directed should be done. In all of this, one thing is clear: when you look at the factors prelude to the establishment of the NYSC; they wanted the young people to know themselves by serving in a state or region outside their State of origin. However, it appears that people are no longer interested in such things presently. We have also heard of cases that people are not interested in the Youth Service. They even prefer to pay to obtain exemption certificate. So, a lot of things have happened and still happening.

“Nevertheless, NYSC presents opportunity for anyone serious about learning one trade or skill; some people to go those places they are posted and start-up entrepreneurship ventures. It is not the amount of what you are taught in class that matters, but the interest you have. Because all the people doing very well in the business ventures are mostly those who decided to improve on themselves. They try to read-wide, learn new skills that may be different from what they even learnt in school. That is innovation. So, entrepreneurship is very important in today’s Nigerian society.

…still on saturation of business ideas

“Meanwhile, I always disagree with people who may say they want to intervene in some community or what they call ‘empowerment’. They go to a community that have about 2,000 population, and give forty of them hairdressing equipment. Who will they dress their hairs? It is part of saturation of ideas.

“Suffice to say that people who go through apprenticeship sometimes understand these things more than those who pass through the four walls of the university. For instance, at the end of the apprenticeship programme, usually the servant does not stay in the same environment with the master. He goes far away to search for new customers. Those who choose to stay in the same environment, most times, find it difficult to survive, because the same customers the master have are the same he will scramble for”, he added.

The role of NACETEM

The DG added that NACETEM is available to train people on entrepreneurship whenever the opportunity comes and when people are interested. “Those who are willing to acquire knowledge or inundate themselves operate under the law of accumulation which states that little knowledge you accumulate every time you discuss with people or read materials, are the things that will enable you do new things”, Prof. Ukwuoma added.       

Source: TechEconomy.ng

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Stakeholders Head to Enugu for first Southeast Educators Conference

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SEEC'24

Stakeholders in the education circle are warming up for the maiden edition of Southeast Educators’ Conference 2024(SEEC’24).

The two-day SEEC’24 scheduled to hold 18th & 19th, April 2024 at Nike Lake Resort, Enugu under theme: Future-‘Focused Learning – Igniting the Competitive Edge’ promises to host key players in the education sector with a potential attendance of over 500 delegates.

The conference will feature a diverse lineup of speakers, covering topics ranging from holistic learning approaches to cutting-edge technology integration.

Speaking ahead of the conference, Mrs Doris Chinedu-Okoro, CEO, Evergreen Group, said SEEC’24 is the first of its kind in the Southeast region, presenting a historic opportunity for stakeholders to pioneer positive change in the local education sector.

“It brings together diverse perspectives and innovative ideas,fostering collaboration and networking among educators and stakeholders.

Hundreds of delegates will be in attendance.

“SEEC’24 is dedicated to exploring transformative practices, emphasising holistic learning, technology integration, global citizenship, life-long learning, and community engagement”, she said.

Mr. Osita Chidioka, the former Nigeria’s Minister of Aviation, who recently launched an online mentorship and leadership programme for Nigerian youths named Mekaria Mentorship Programme (MMP) Foundation Course, will deliver the keynote at SEEC’24.

Prof. Pieter Verdegem; Dr. Joy Isa, Mrs. Bukola Adewuiyi, Lady Uju Dike, Fr. John Njorteah, Alex Onyia, Rotimi Eyitayo, Rhoda Odigboh, Elfrida Diete-Spiff Omole, Dr. ChibuezeLawrence Ofobuike, Ify Obidi-Essien, Dr. Abimbola Ogundere, Angelina Ikeako, Odetola Ebenezer Israel and OgochukwuOnyia, are some of the speakers lined up for the event.

The Evergreen Group CEO added that the conference thrives on a vision to create a dynamic platform that equips educators with the tools and knowledge needed to make a lasting impact on the educational landscape of South-Eastern Nigeria.

SEEC’24 is open to School Owners, Heads of Schools (Public and Private), Educational Stakeholders, Counselors, Teachers, Parents, Investors, Startups, and others in the education ecosystem.

“Participants will have the opportunity to engage in two full days of conference sessions, diving deep into the future of Education.

“There will be ample networking opportunities with school leaders from across the geopolitical zone and beyond.

“The evening Gala Night promises a delightful atmosphere for dancing, dining, wining, and fostering deeper connections in a relaxed setting”, she further explained.

Registration is N100,000 via: https://bit.ly/3uTcv9e

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GR Diary

PAFON: Digital Encode, Cybervergent, Payble Sign Up for Payments Forum Nigeria 1.0

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PAFON

·      Experts to Discuss Trust, Security and Privacy in AI Era

Payments Forum Nigeria (PAFON), the cross-industry platform focused on addressing issues that require broad cooperation and coordination across many constituents in the payments industry, has attracted sponsorships from Digital Encode Limited, Cybervergent and Payble.  

Financial industry experts are warming up for the first edition of PAFON, scheduled to take place at Oriental Hotel, Lekki Road, Lagos on Thursday March 21, 2024, by 9am.

The Forum aims at providing an inside-look at the industry, offering perspectives from key stakeholders, including payment networks, technology innovators, leading merchants, issuers, acquirers and payment processors.

Throughout the years, the finance world has shifted into something much more than just banking and big corporations.

Speaking ahead of the star-studded PAFON 1.0, with the theme: “Payments: Trust, Security and Privacy in AI Era”, Dr. Adewale Peter Obadare, the Chief Visionary Officer [CVO], Digital Encode Limited, said that customers want to be assured that their sensitive information, such as credit card numbers and personal details, is treated with utmost care hence security has become paramount in the payments industry.

“Secure payment processing ensures that data breaches are minimized, instilling confidence in customers to keep coming back. Nigerian financial institutions reported ₦159 billion ($201.5 million) lost to fraud cases since 2020, according to the Financial Institutions Training Centre (FITC). This is what the experts must tackle and customer awareness is key too”, he said.

Based on a report by Gartner, by 2024, 40% of privacy compliance technology will rely on AI, up from 5% in 2019, and by 2025, 60% of large organizations will use at least one privacy-enhancing computation technique in analytics, business intelligence, or cloud computing, and financial services industry is no exempted.

On the other hand, Roosevelt Elias, the co-founder of Payble, described PAFON as a ‘must-attend’ Forum due to the ‘issues listed to be discussed are germane and require critical attention. For instance, building financial inclusive products requires a mix of technology and illiteracy. The industry can’t achieve this by working in silos; we just have to unite to achieve the set target on financial inclusion, particularly for the rural dwellers.

Digital Encode (a leading consulting and integration that specializes in the design, management, and security of business-critical architecture); Cybervergent (a company dedicated to helping protect business sensitive data from cyber-attacks, including customer information, financial records and intellectual property); Payble (a fintech startup that modernises local government payments such as creating citizen-centric payment experiences, delivering flexible billing and simplified rate collection, will be joined at PAFON 1.0 by Inlaks, an IT company that offers core banking, fraud management, cybersecurity, cloud, data center, enterprise risk management, amongst other industry players.

“Our goal is to enable information exchange and knowledge sharing on key industry insights issues amongst key stakeholders, with the objective of ensuring a collaborative and proactive approach to push for policies that enable growth, tackling/mitigating fraud and limiting occurrences and losses”, said Mr. Chike Onwuegbuchi, the co-founder of TechCastle Foundation, organisers of Payment Forum Nigeria (PAFON).

He said that the Forum is driven by the reasons to; “educate and inform financial service players and other stakeholders on various issues and trends (both locally and globally); proactively share data/information amongst banks, Fintechs and other service providers, to enable prompt responses to prevent and/or limit (customer-related) losses; and discuss key Payments security trends”.

“Speakers will be drawn among industry players such as banks, Fintechs, mobile money operators, blockchain experts, Cybersecurity, etc., as we expect attendees from the Central Bank of Nigeria (CBN); e-Banking Heads; Chief Compliance Officers of banks in Nigeria; Chief Internal Auditors of banks in Nigeria; Office of The National Security Adviser; Switching companies; the Economic and Financial Crimes Commission; Licensed Mobile Payment Operators; Electronic Payments Providers; Information Security Experts; Consumer Protection; Financial Policy and Regulation; Information Technology; Legal Services; Banking Supervision; Corporate Communication; Shared Services Office; Blockchain Security Experts, etc”, he added.

Participation:

Participation is free; however, you are required to pre-register using the link here: https://bit.ly/4c4N19H

For sponsorship, please contact: Mr. Chike Onwuegbuchi via: 08123355522 or Peter Oluka: 08184346261 or email: [email protected].

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GR Diary

Digital Landscape Harmonization: Anambra’s ISPs, HEIs Invited to AFRINIC One-Day Training

By; SANDRA ANI

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ISPs and HEIs in Anambra State

The Anambra State ICT Agency, in a strategic collaboration with the Internet Exchange Point of Nigeria (IXPN), recently, successfully organized a one-day interactive session that brought together Internet Service Providers (ISPs) and Higher Educational Institutions (HEIs), to discuss the imperativeness for interconnectivity and to lay the foundation for establishing an Internet Exchange Point in the State.

The collaborative session saw vibrant discussions and resolutions aimed at creating a more livable state and a robust economy through increased internet access and connectivity.

In furtherance of the milestone recorded with the interactive session, and in recognition of the pivotal role of ISPs and HEIs in expediting actions towards this interconnectivity, a one-day AFRINIC virtual training program has been scheduled to take place on Tuesday, 5th December by 12.00pm.

The follow-up virtual training will not only provide participants with invaluable insights, technical expertise, and practical knowledge to optimize their network infrastructures but will further yield answers to key questions posed by ISPs and HEIs.

AFRINIC, the Regional Internet Registry for Africa, is renowned for its commitment to advancing internet development across the continent. The AFRINIC virtual training therefore represents a significant stride towards realizing the goals outlined during the interactive session.

This initiative aligns perfectly with the vision of Governor Charles Chukwuma Soludo, CFR, of building a technologically advanced state, while the collaborative efforts of the Anambra State ICT Agency and the Internet Exchange Point of Nigeria (IXPN) underscores practical commitment to positioning Anambra as a digital hub, driving innovation, economic growth, and improved quality of life for its residents.

Participants can expect an interactive and immersive learning experience, equipping them with the skills necessary to navigate the dynamic landscape of internet services in the State.

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