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Youth Restiveness Ticking Time Bomb For Africa, Others – Elumelu

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Youth Restiveness Ticking Time Bomb For Africa, Others - Elumelu

The Chairman of the United Bank of Africa (UBA), Mr. Tony Elumelu, has stressed the need to unlock the potential of youths in Africa in order to catalyse the socio-economic development of the continent.

According to Elumelu, youth restiveness remains a ticking time-bomb on the continent, noting that countries in the region continue to face issues around extremism, banditry, robbery, senseless killing, kidnapping and political thuggery, among others.

The Founder of the Tony Elumelu Foundation said this in an address he delivered to 21,000 youths at the Joshua Generation International Youth Conference organised by the Anglican Church at the University of Nigeria, Nsukka, Enugu State, yesterday.

He pointed out that Africa is the world’s youngest continent, saying that almost 60 per cent of the country’s population is under the age of 25.

In Africa, youths of 35 years and under are estimated to constitute 70 per cent of the population of the country, he said.

“However, the jobless rate in Nigeria has now risen to about 30 per cent in March 2021. Some states have as high as 56 per cent of all their youth population as unemployed. In Africa, the situation is not much different: We have 65 per cent of all Africans below the age of 35 and many of these people are not gainfully employed.

“The Covid-19 pandemic and resulting lockdowns have exposed the vulnerabilities in our population structure. We now have, as a continent, the largest young generation in history – this youthful population is Africa’s hope, it is our pride and it is our potential. The urgency and need to unlock the potential of this generation is imperative for the security of our collective future.”

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To the Chairman of Heirs Holdings, to address this challenge, there is the need for a high sense of urgency, a dissatisfaction with what is happening presently as well as a commitment to improving things.

“We must accept that we face a crucial period in our history where youth issues must be the main and central issue of our time. Millions of our young people are entering the job market every year; and 20 million jobs are needed to be created annually to absorb new entrants in the labour market. Only about three million formal jobs are being created annually across Africa and this was even before the outbreak of Covid-19 pandemic outbreak,” he added.

While speaking on the power of entrepreneurship, Elumelu said: “For me and my colleagues at UBA, at TEF and the across the HH Group, we have come to believe that entrepreneurship – the power of entrepreneurship – is key to harnessing the potential of these young Africans

“By so doing, we secure our own future. This comes from our own experience, first as entrepreneurs ourselves. And secondly as people that have committed a lot of resources at TEF (capital, time, personnel) in helping create a new generation of African entrepreneurs. We are helping to give economic hope and opportunities to young Africans. And we speak as people that do this in all 54 African countries, the TEF intervention cuts across all sectors and gender across the 54 African countries because we believe that prosperity should be shared as much as possible across board and that poverty anywhere is a threat to us all everywhere.’’

“The enormous potential of our youth, we must prioritise our support for small-scale businesses. Corporate organisations do well in employing people but there is a limit on how much corporates can do in employing the huge numbers of our unemployed youths. Therefore, capacitising and supporting small businesses, empowering our young ones and their businesses, in our own view is the most powerful means to reduce unemployment on the continent,” he said.

Elumelu in his remarks commended the Nigerian government as regards its approach to taxes for micro, small and medium sized enterprises stating, “I must commend the Federal Government for the good work in the area of tax waivers for micro-businesses. Tax-friendly policies that encourage our entrepreneurs are necessary and much more is required, but good work has been done and the government should be commended.”

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BREAKING: Subscribers To Pay More For Telecoms Services By 50%

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Telephone subscribers will pay more for data and airtime by 50% .

This was disclosed in a statement by the Nigerian Communications Commission’s spokesman Reuben Muoka. Mouka said the price adjustment though lower than the “over 100% requested by some network operators, was arrived at taking into account ongoing industry reforms that will positively influence sustainability”.

The regulator said the increase was pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA) to regulate and approve tariff rates and charges by telecommunications operators.

“These adjustments will remain within the tariff bands stipulated in the 2013 NCC Cost Study, and requests will be reviewed on a case-by-case basis as is the Commission’s standard practice for tariff reviews. It will be implemented in strict adherence to the recently issued NCC Guidance on Tariff Simplification, 2024,” the statement read.

“Tariff rates have remained static since 2013, despite the increasing costs of operation faced by telecom operators.

“The approved adjustment is aimed at addressing the significant gap between operational costs and current tariffs while ensuring that the delivery of services to consumers is not compromised.

“These adjustments will support the ability of operators to continue investing in infrastructure and innovation, ultimately benefiting consumers through improved services and connectivity, including better network quality, enhanced customer service, and greater coverage.”

The NCC said it recognised the financial pressures faced by Nigerian households and businesses and remained empathetic to the impact of tariff adjustments.

“To this end, the Commission has mandated that operators implement these adjustments transparently and in a manner that is fair to consumers. Operators are also required to educate and inform the public about the new rates while demonstrating measurable improvements in service delivery,” the regulator said.

As of December 2023, Nigeria has over 224 million subscribers, according to official data by the regulator. MTN boasts of over 87 million subscribers, representing 38.79% of the total market share, the highest in the country by any licensed Mobile Network Operator (MNO). Globacom and Airtel have 61 million subscribers each while 9mobile has 13.9 million users.

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Olaopa Lists Ways To Make HR Practice Viable As Gobir Emerges CIPM President

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Prof. Tunji Olaopa delivering his speech at the event in Lagos on Wednesday.

The Chairman, the Federal Civil Service Commission ( FCSC), Prof. Tunji Olaopa, has listed ways HR practice can be viable in the Fourth and Fifth Industrial Revolutions.

The former permanent secretary spoke on Wednesday as the chairman of the investiture of Mal. Ahmed Ladan Gobir, FCIPM, as the President and Chairman of Governing Council of CIPM, in Lagos.

The seasoned bureaucrat who spoke on the topic “IPM and the Unfinished Business of Reform in the Public Service” disclosed that his significant relationship with CIPM spanned many years.

Prof. Tunji Olaopa and the new President of CIPM,Mal. Ahmed Ladan Gobir.

According to him, CIPM is one organization he counts as a partner in the struggle for transforming the public service system in Nigeria.

“This is why I am more than delighted to be witnessing, and chairing, this investiture of the new President and Chairman of the CIPM Governing Council. CIPM is strategic as the key umbrella body—the community of practice—for administering HR practice in Nigeria. Since its founding in 1968, it has consistently continued to push the frontiers and boundaries of the HR profession as well as being in the vanguard of HR management praxis in ways that have consolidated the status of its members, and its own status as a global organizational brand”, he said.

He was hopeful that as a distinguished Nigerian, a formidable HR thought leader, astute corporate lawyer and a management professional par excellence, Gobir’s work was already clear to him ” within the challenges that CIPM might be currently facing, and how the organization could be positioned as a significant stakeholder in the overall task of institutional reform in Nigeria.”

Lauding preceding presidents, and especially the administrative and visionary efforts of Mr. Olusegun Mojeed, the immediate past president of CIPM, for a most remarkable tenure filled with spirited strides, innovations and commendable achievements and legacies, Olaopa said that no avid watcher of Nigeria’s public administration, and CIPM’s role, could be in any doubt as to the depth of clarity amongst CIPM’s thought-leaders regarding what was the next level for CIPM, especially at this momentous time in the profession’s annals, ” a time when the world of work is witnessing profound rethinking and reformulation to institutionalise the post-Covid new normal, and, at that, as we navigate the unfolding Fourth and Fifth Industrial Revolutions.”

According to Olaopa, one issue that is integral to HR rethinking and the vision of the future across all sectors of the Nigerian economy is the fact that at no time has the people factor in organisations and human capital been so core critical to development prospecting and national productivity.

Drawing lessons from comparable experiences around the globe on how nations have transformed from abject poverty to increased national income growth, and technological cum institutional advancement, Olaopa observed that all high-performing economies without exception, gave greater prominence to knowledge, human capital and governance.

“In raising the quality of governance, we came to the conclusion that the rate of progress that Nigeria will achieve will depend in part upon the degree to which political power is matched with policy and managerial intelligence.

“This is consistent with HE President BA Tinubu’s aspiration to emplace a government of national competence. In all of this, it was clear to us that public administration, leadership sophistication, competent national change management strategy and reprofiled national value system, will be critical success factors at play to unlock the binding constraints that have constrained successful translation of the many transitions of the past and the present to sustainable national structural transformation and development”, he said.

Olaopa highlighted “some issues of concern that require our joint spirited intellectual and practical interrogation first by the public administration community of practice with CIPM filling in for the core professions elements”.

He listed these as the recognition that while HR function should be professionalised, HRM is no longer the exclusive responsibility of HR departments, as line managers also need significant people management skills for overall systems’ effectiveness.

He said: “HR function must necessarily transition from a preoccupation with passive role of administering on the bases of rules, regulations, and procedures, to developing and pursuing policies in manner that extract performance results and productivity bargain from people and processes. HR innovations are required to restore government as preferred employer of labour, which will demand significant systems changes so the public sector can attract and retain top talents in an increasingly competitive labour market.

“The public service must raise its game as it anticipates and manages the fresh new orientation of that the Millennial and Gen Z generations of managers for example to the workplace, especially their preference for workplace flexibility and flexi-working so they can pursue other rewarding interests.

” The public sector also needs to raise its game so it can optimise PPPs contracts at its higher maturity curve and levels, which demands that it builds advanced acumen in public officials in commercial skills, knowledge of international business practices and labour laws, multicultural sensitivities and multiple language, to name just a few.

“It should also recognise that the transition from being primarily administrative expert to being change agents and strategic partners has automatically relocated the HR function from the back office that it still occupies to the front office.

“While the extent to which artificial intelligence, robotics, etc. are transforming the way we do things is growingly becoming clear to thought leaders, what is uncertain is how well we can cope with the speed of change and how to convert the uncertainties it creates into real opportunities.”

He continued: “The public sector in building on past reform gains and current commendable initiatives, must recognise that the Weberian ‘I am directed’ managerial model and tradition that was developed for the use of paper-based, top-down pyramidal structured control and procedure-oriented organisations with segmented way of delivering services requires a whole paradigm rethinking so the much bandied performance-based systems can take shape.

“The new performance-managed HR model will however necessarily be customer-centric with HR partnering with line managers to refocus HRM from just efficiency concerns and due process compliance to effectiveness within framework of a new productivity culture.

“Besides, HR managers as change leaders in the public sector requires deepening of HR skills with respect to their role in risk management. In so doing, they will not just support MDAs reforms, they will become the sponsors of change while at once driving the change.

“This suggests the need to deepen action research as a component of management cum operation research and organisation development (OD), to enable HR institute a learning culture through challenging of the status quo as champions of cultural transformations directed at translating desirable culture and public service values into public managers behaviour.

“The known public service employment policy emphasis on job security and guaranteed lifetime career then calls for rethinking, to create a distinction between career-based and position-based employment system. Central personnel governance will also need reprofiling to align the three defining trends namely, deepening of current practice of delegating HR powers to line managers, simplifying of rules, procedures and guidelines that underpin the shared powers and responsibilities.

“Ditto with centralised industrial relations governance and collective bargaining in the context of fiscal federalism, which tends to create unsustainable and intractable downstream problems that increasingly disempower the discretion that employers reserve to negotiate at operational levels, a dimension that requires deep-seated reform.The current practice of staff performance appraisal in the public service which creates the as yet resolved confusion about what is being assessed and rewarded, between results, competences, behaviour, knowledge or staff potential with associated problem of subjectivity, in a measure that focuses appraisal as means rather than the ends of performance assessment, is also core critical.”

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CBN Gives Fresh Detail About Opay, Palmpay, Moniepoint, Others

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Cardoso through the CNB in April placed an embargo on Opay, Palmpay, Kuda Bank, Moniepoint and other fintech companies from onboarding new customers,

By John Michael Ojo

The Governor of Central Bank of Nigeria, Olayemi Cardoso, during the MPC meeting on Tuesday revealed that mobile money operators who are currently being restricted from enrolling new customers would soon be allowed to carry our their operations without any form of restrictions in the next few months.

Cardoso who stated this in Abuja, denied revolking the licences of these fintech companies.

The CBN Governor, claimed that the Central Bank was working round the clock by engaging with stakeholders in order to strengthen the activities of Fintech companies in the country.

He added that the CBN is also working to mitigate against every loophole used by criminal elements to facilitate money laundering within the financial system while maintaining the integrity of the industry.

“I am confident that as time goes on, and hopefully in another couple of months, all these will be something of the past and then you will see that sector going back into what they’ve been known to do before, but certainly with a very stronger regulatory framework,” he said.

Cardoso through the CNB in April placed an embargo on Opay, Palmpay, Kuda Bank, Moniepoint and other fintech companies from onboarding new customers, a move which was heavily criticized and seen as a gag on the financial sub-sector.

However, the CBN Governor who has now provided the public with more details about the action of the apex bank on the fintech companies said: “The fintechs have not been singled out for any exceptional kind of treatment. The CBN remains proud of the exploits of fintech firms in the last number of years and the apex bank will continue to support and strengthen them.

“However, regulation is very critical in a sector that seems to have grown so incredibly rapidly.

“More recently, we had the cause to take a deep dive look at the whole issue of illicit flows and money laundering particularly within the non-heavily regulated banking system and we all know some of the issues that came out with cryptos and some of the messages we put out after that, which of course gave us some cause to know that there is the need for heightened surveillance,” Cardoso stated.

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