Vandalism: Why saving telecoms is a big deal says IHS - ITREALMS

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Streaming your favorite show or even using your Point-of-Sale (POS) terminal to buy some snacks, but the signal is just... gone. Lagging. Giving nothing. That’s the reality for a lot of people when critical infrastructure gets hit by vandals. And yeah, it’s a big problem.

So, listen up. IHS Nigeria, one of the biggest names in the tower game, is basically saying, "We can't have a strong digital world if our towers and fiber optic cables are getting wrecked."

Suspected fraudsters disguised as assassins to defraud journalist, demand N20 million as saving grace - ITREALMS

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Suspected fraudsters disguising as assassins have threatened to eliminate the Founder of Penpushing Media, Dimeji Kayode-Adedeji, with an option to spare him if he could cough out N20million as saving grace.

The gang led by a member who identified himself as Femi Poly, at about 7.30am put a phone call across to the journalist that they had been assigned to eliminate him, but had a rethink on carrying out the operation.

‘We have your photograph, we are assigned by somebody close to you to kill you, but we observed that you are an elderly man, and decided not to carry out the assignment, but to reach out to you if you can offer us N20million’, the suspects said.

The gang operating with mobile phone numbers +2349036869898, +2348080858130 when asked who was their sponsor and what was the reason given to them to warrant the assignment to finish the journalist, said he would be provided the information after paying them the N20million demanded.

‘The person is your close associate, who told us he had issues with you, but can you keep it to yourself if we reveal the identity, which we shall do that after payment of the N20 million’, the suspects said.

When the journalist told them he has no such amount, the gang said they would reduce the amount to N500, 000, and after telling them he could also not afford such an amount, the suspects further reduced it to N150, 000.

The journalist again told them that he could not also raise the N150,000 immediately, and that he had N10,000 as at the time of the conversation, the gang said he should send the N10, 000, as part-payment, and immediately they provided an access bank account with number 0002884692 with the name *Aminu Adamu*.

Meanwhile, the journalist, however, said he has informed the police of the development adding that as at the time of filing this report police authorities have commenced investigation into the matter.

Whichway Nigeria's manufacturing industry by Elvis Eromosele - ITREALMS

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The manufacturing industry is crucial to a nation's economy. It plays a significant role in generating employment, increasing productivity, and driving economic growth. In Nigeria, the manufacturing industry is a critical sector that contributes significantly to the country's gross domestic product (GDP) through job creation, wealth creation, and increased tax revenue for the government.

It has equally been identified as a key sector in the nation's quest for diversification away from oil dependency. It can enable a country to reduce its reliance on imports, improve its trade balance, and increase its overall competitiveness. Manufacturing is almost all things good.

Saving AFRINIC from itself by Katim Seringe Touray - ITREALMS

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The ongoing legal saga of the African Network Information Centre (AFRINIC), the Regional Internet Registry (RIR) responsible for allocating Internet addresses, including IPv4 addresses, in Africa is at the nexus of business, technology, the law, and international politics, and efforts to resolve it would have to take these issues into account.

Saving Jaafar Jaafar from Gov Ganduje’s SLAPP - ITREALMS

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Despite persistent calls by authentic advocates of good governance for a conducive atmosphere for a thriving democracy and freedom in Nigeria, the reactionary wing of the ruling class and its agents are not giving any chance for that to happen. The more they are caught red-handed—with self-incriminating evidence—and exposed in the very act of a crime, the more they grow the liver to deflect and seek revenge.

*Gov. Ganduje taking wads of dollars suspected to be bribes.

Abdullahi Ganduje, the 72-year-old governor of Kano State, occupies the top rung of state officials who seem hellbent on punishing journalists for doing nothing other than acting in accordance with the demands of their profession.

Saving our education system

Commentary@ITREALMS: 

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Since the 1970s, the educational system of the Yorubaland has been gradually deteriorating. Standards have been falling with buildings, infrastructure poorly maintained, and teachers poorly remunerated. However, the pace of the deterioration picked up in the 1990s because of the military government poor policies and the corruption that had taken over governance in the country.

Our major factor that helped the deterioration of public education system in the region was the forceful takeover of privately owned schools by the federal government in the 1970s. Schools that were previously maintained by the tithes and fisebililah money of congregants suddenly found themselves at the mercy of the inconsistent government. Of course, Nigeria was swimming, though some would say, ‘drowning’ in petrodollar in the 70s and the early days of the forceful takeover were rosy. The government had money to splash around and even ordered a nationwide increase in civil servants' salary across boards. However, things took a turn for the worse in the 1980s when the oil prices crashed and since then the schools that were forcefully taken over and those originally owned by the government have seen their fortune gone down.

What is the way forward for our education system? Alternatively, are we going to fold our hands and watch it become a centre of wasting time? How long are we going to continue churning out secondary school graduates who can barely write their name? Now, public schools have become the last option for the poorest of the poor. Private schools have taken over education for the working and middle classes of our society. This will further widen the gap between the various classes of our society. I have observed repeatedly that so many public secondary school students cannot compete with private school kids in a primary class. If we continue along this line, we are setting up our society for a serious fall.

What is the way forward? I think we need to restructure our schools, one school at a time. The government should adopt a primary school and a secondary school per every local government every year and turn around their infrastructure. A community management board consisting of teachers, parents and community leaders should be constituted to manage these overhauled schools. The board must be allowed to levy charges on community members and pupils to maintain the facility and procure materials if necessary. The board should be able to hire, reward and reject teachers based strictly on performance and competence. Allow individual schools to set its test and termly examinations while the sessional examinations will continue to be state-wide.  Companies and organisation can also be encouraged to adopt a school and take care of some of its need during a certain period.

We need to take radical decisions to bring public school at par with private and I hope that my article can begin a conversation on incubating ideas to do just this.

*Contributed by Adisa Kabiru Adeniyi, could be reached via: adisakabiru@yahoo.co.uk

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Six saving tips for bachelors

Weekend LifeStyle Special@ITRealms: 

The average Nigerian dude wants to ball. You can’t really judge them either, because…you only live once. YOLO!

Monday to Thursday: you stay on the hustle, money must be made.

Fridays nights: back to back clubbing with the babes.

Saturdays: wedding and after party then lounge/drinking time with your bros.

Sundays: big boy brunch at any four-star hotel and football time at the bar later in the day.

The lifestyle is the dream; however, except you have your own business or solid inheritance somewhere, this lifestyle cannot be sustainable -especially, if you are still a bachelor.

Even when they follow the best financial advice available (they work hard, spend less than they earn, save and invest) quite a percentage of single men still find they have to live pay cheque to pay cheque – with no savings.

Of course, this does not in any way imply that all the unattached men in Nigeria are flunking their finances or are in a hopeless position when it comes to money. Some men just face specific challenges, when it comes to managing their cash.

The state of the country’s economy plays a huge role in this dreary financial picture; as such, opting for just the basics when it comes to making financial changes may not be ideal.

Single dudes should consider taking on some of these hands-on money rules:

Rent must not exceed half of your monthly earnings

Yes, you want to live alone, have your own place and be independent, but you should not spend a fortune or run into debt renting an apartment. Ensure your monthly rent is not more than half of your total earnings per month. For instance, if you earn N100,000 per month ensure you do not rent a place that costs more than N25,000 per month. This means that you would be looking out for a space that would possibly cost you N300,000 per year.

It’s easy to get sold on the dream of emancipation from parents and total independence, but if it’s going to jack up your bills, it’s probably not a wise financial move. If you must rent a space, consider getting flatmates and move up from there.

Opt for hobbies that don’t require an upkeep cost

As a dude, you have a number of hobbies and activities you engage in, to keep life eventful and interesting. It could be fitness, or just games for leisure. The thing is, a number of these hobbies require ongoing upkeep costs; from club membership dues, to cost of supplies, uniforms, and even trips/get-together.

While it is definitely alright to have hobbies, just make sure you go for one that requires minimal maintenance, or even none at all. For instance, no matter how much you love golf, you may want to put that off for later, when you are more financially stable. Not only do you have to register to use the golf course, you have to get the outfits and the need for fresh supplies are almost endless. You may want to consider alternatives like playing music, on an instrument you already have, or even football with friends or colleagues.

Cut down on eating out

Yes, you want to join in on the Sunday brunches with colleagues; you want to prove to your girlfriend, who loves fancy food, that you are enough for her; you also want to order from ‘The Place’ like your colleagues, instead of brining something homemade or buying from the lady across the road and being the “stingy” or “low-class” one. 

But if you are concerned with upgrading your financial status, you will have to skip these splurges. They seem small, but actually, they accumulate and take a toll on your finances. You will be surprised to find out that sometimes, the cost of the daily take-out is what, over time, separates the rich dude from everyone another dude the wrong side of the thin money line.

Acquire cars based on reliability and fuel efficiency…otherwise, use public transport

There is the assumption that owning a car makes a dude more appealing. Before using your life’s savings to buy a car, you must at least consider two factors.

Ask yourself: how reliable is the car? How fuel-efficient is it? Answering these questions lets you know if you would be actually making an investment by buying the car, or acquiring a liability.

This is because fuel bills and repair bills are serious money drainers when you own a car. Do not just jump and buy any car just because it is cheap and it still moves. If you cannot say for sure that it is reliable and fuel-efficient, get on with public transport. And by public transport, I don’t mean Uber and Taxify.

There is absolutely nothing wrong with commuting to work in a bus or keke napep. It is actually a better option as it is incredibly faster in rush-hour traffic. It’s also cheaper when you consider the fuel, oil and other maintenance costs of running the car. You save more and you upgrade yourself financially.

When shopping, use the 30-day rule

Believe it or not, shopping is not a “girl” thing. Guys love to shop too. When shopping – online or in-store, it is important that you adhere to the 30-day rule. The rule simply implies that you wait 30 days after your first serious impulse before buying the expensive item, no matter how essential you think it is. Waiting 30-days give you enough time to do research and ascertain the impact it could have on you financially, and whether you even really want it or not. 

Sometimes we are deluded by brief fascination and end up spend a lot of money on something that we will never use and may not improve our lives in any way.

The 30-day rule gives you the time to come back to reality and make the sane decision.

Don’t borrow money to invest

Every financial guru will tell you to invest your money in something, if you want to be financially stable in future.

While this is great advice, you must also ensure that you do not use borrowed money (money that is not originally yours) to invest…no matter how lucrative the investment seems or how much of an asset you assume it will be.

In the case where the investment you want to make is either a fixed deposit or bond, you will eventually find that the dividends may not be able to match the rate of interest you pay on the loan. Again, even investments, such as equities, that offer higher returns, can be too risky.

*Contributed by Nkem Ndem | nkemndemv@gmail.com

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Pix: NairaNotes

Saving Rivers Economy: The Wike Matrix

Opinion@ITRealms:

It was Sophia Amoruso, the founder and owner of Nasty Gal, described as one of "the fastest growing companies" by Inc. Magazine in 2012, that said "Half of getting there is having the confidence to show up and keep showing up." That describes Governor Nyesom Wike of Rivers State. Over the past one year since he took over the reins of governance in the weather beaten, investment hostile and business stagnated Rivers State, he has demonstrated this saying by his deliberate interventions to get infrastructure working and businesses running by ‘half getting,’ and the uncanny confidence to show up where government’s attention is needed and will not stop showing up as he has promised.

It is no longer a matter for debate that Wike inherited a state in dire economic straits last May. Business owners were listless, investors were hamstrung by dearth of infrastructure and government inertia. Many, today agreed that the governor has injected vitality in all sectors of the state economy, and is on course to transforming the infrastructure landscape. While it is granted that it is not yet Uhuru, but the signs are positive and Rivers state has come alive again.

Speaking of his one-year stewardship recently, Wike explained that his administration in the last twelve months has been able to rescue the state from ‘dysfunctioning.’

At the interactive session to give his scorecard, the governor said to kick start the administration on day one, he directed the reinstatement of one thousand lecturers of state university of science and technology sacked by the previous administration on union activities.

Other highlights he gave include the reopening of the courts which were closed for over one-year by his predecessor. The good news is that the courts are all working, providing unhindered access of justice to the people.

He has been able clear the backlog of salaries and pensions of the state civil servants and pensioners, with over 1, 000 kilometers of roads either completely rehabilitated or constructed afresh.

It is instructive that for businesses to thrive, the purchasing capacity of the people is integral aside the importance of infrastructure and enabling environment. The recall of 1, 000 lecturers simply translates to the fact that about 4, 000 other immediate family members have their livelihoods secured, and with their productive capacity guaranteed, it can only be imagined what this translated to in economic terms. There is little argument to the fact that a state with a high unemployed rate cannot engender economic prosperity as their purchasing power will be next to zero.

It is in this regard that the import of Wike recalling the sacked lecturers as well as clearing the backlog of arrears and pensions of the workforce of Rivers state can be best situated.

Tied to economic growth is the access to justice. There is no denying the fact that in every society and business environment, there are bound to be conflicts of which the courts are the arbiter if society is not to descend into a Hobbesian State. 

For the people of the Rivers, the state became one large theatre of aberration as people resorted to extra legal means to address their disagreements and conflicts in the absence of clear judicial avenues. Port Harcourt became a city of fear for small, medium and large business concerns as there was no instrument of state to tackle their issues and provide remedy. It was therefore not unexpected that economic activities witnessed serious decline.

Added to this was the erosion of aesthetics and serenity of the famed Garden City. Port Harcourt and adjoining towns became one huge refuse dump. It was the case of Nero fiddling while Rome burnt. This time, the former state governor went on political whoring while the decadence and stagnation became rife. Traffic snarls, pothole ridden roads. In short, Port Harcourt became intolerable and not sustaining. Given the precious man-hours spent in traffic and the suffocating nature of filth at every turn, it was evident that businesses would relocate and they did! 

So when Wike came into office, optimism was in short supply, the business community were expectant but not overly confident of what was in stock. However, one year down the lane, Port Harcourt has found its bounce, the traffic snarls have ebbed, access to justice and arbitration is available, while the infrastructural space is broadened.

Speaking on how far his administration has weather the storm, Wike said: “We have stabilised the economy of Rivers State since we took of the reins of leadership in the state. We achieved the stabilisation of the economy by injecting N151 billion as salaries and payment of contractors.”

One can only imagine what N15 billion can do in an economy like that of Rivers State at a time other parts of the country are facing the strain of poor streams of income from the federation account. It cannot be taken away that this feat is as a result of careful planning, priority of the people over self-aggrandisement and survival as was the lot of the immediate past regime.

While it is not enough that these feats have been achieved, it is heart-warming to note that the governor has given the indication of equitable development so as to guarantee economic growth for all areas of the state.

According to him, every local government area in the state will host key projects, making the point that no local government area will be denied the impact of good governance.

With what Wike has achieved, it is no wonder that the state PDP Chairman, Bro. Felix Obuah, is full of commendation and waxing in the enthusiasm of a future assured for Rivers State.

Giving his take on Wike’s one-year in office, he makes the argument that it is as a result rare frugality and prudent management of state resources, despite shortfall in internal revenue accruals due to harsh economic realities of the time and very meagre federal monthly allocations, yet delivering on amazing democratic dividends.

While it is enough to be angry that despite the huge allocations at the disposal of the previous administration, it is a vindication of the allegation in several quarters that Rivers State was milked dry and the collective wealth of Rivers people personalized and wasted on unnecessary goodwill to remain politically relevant.

As the deliberations continue on the first anniversary of the Nyesom Wike administration the messaging is clear that beyond the rhetoric, he has established the principle of accountability, service and promise kept detached from elections.

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