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A Practical And Necessary U-Turn

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It ‘s often said that a sign of a good leader is an innate ability to recognise when something is not working, and the courage to correct it immediately – even if it means him or her administering a complete u-turn. Such is the magnitude of the Buhari administration’s about-face during the past six weeks or so.

First of all we witnessed the truly pragmatic and wise decision to put an end to fuel subsidy – a total anathema to the administration’s commendable commitment to help and provide for those at the bottom of the financial ladder. It was an act of true courage – allowing common sense to prevail over deep rooted ideologies. The simple fact of the matter is the government / nation cannot afford the subsidy bill; leading to the proverbial question – ‘where’s the money going to come from??’

Then a few days ago the CBN Governor informed us the FX market is to be liberalised – thereby allowing the markets to determine the value of the naira. On hearing the news, aside from wanting to leap for joy, I promised myself I would write an article of thanks and congratulations to the present administration.

Okay so rather than taking immediate and decisive action at the start of the year when it was blatantly obvious the economy was heading in a bleaker than bleak direction, the government nonetheless decided to lead us on a merry dance (oops! Did I say ‘merry’? Pardon me I meant ‘galling’) through the long and utterly grim valley of the shadow of economic death. But as they say, ‘better late than never!’

The above two monumental decisions speak volumes of the tenacity and humility of President Buhari and his Vice President, Professor Yemi Osinbajo. Indeed the more I watch and listen to the Vice President the more I believe he’s a man that sincerely and diligently listens to people’s views and advice – be they pro or against.

To further buttress my point about pragmatic management / leadership, allow me to recall a Chelsea match I watched several years ago. Before proceeding I should point out that as a passionate Arsenal fan, saying complimentary things about Chelsea’s then manager Jose Mourinho is not only painful but sends the most devastating chills down my spine. So after taking a very deep breath I’ll say this as quickly as possible.

The Chelsea team of those days were known for their affinity to ensure goals were not conceded. Playing anything resembling creative or attacking football was more or less an after-thought. But despite this painfully sterile approach to the game they had an uncanny knack of scoring timely goals – usually either very early on in the game or with just seconds remaining. Such was the effectiveness of their steely defence they usually only needed one goal to win games.

During the first twenty minutes of a game against Sam Allardyce’s Bolton Wanderers (I think it was Bolton but can’t be completely sure) it was fairly obvious that Mourinho had got his tactics a little off. Not only was the Bolton team running riot down both flanks but the Chelsea team looked even more staid than usual when going forward. So what did Mourinho do? He made a double substitution in the first twenty minutes of the first half – The First Half!!! Ten minutes later Chelsea were three nil up. I had never really liked Mourinho up to that point. Actually I still don’t like him. But it was from that very moment that I started to have the utmost respect for his abilities as a superb tactician and manager; and as a result till this day I always listen to everything he has to say.

Why?

Because his actions that day sent two very clear messages.

1. A very public and fearless admission that he had fluffed his tactics

2. He had the courage, and humility I might add, to correct his mistakes immediately

The above two points are key attributes of good leadership. A good leader should never be too arrogant or proud to admit when he or she has made a mistake. Neither should he or she be too afraid to make the necessary changes.

So once again I doff my hat to both the President and Vice President. During the past six weeks they’ve shown that the government manning the oars of this potentially great nation is one that listens.

Now the FX market is liberalised we’ll see a greater inflow of foreign investments during the next few months – leading to more availability of dollars to pay for the necessary imports. Yes we want and will become a self sustained nation that imports very little, but that time is a long long way away – at least ten to fifteen years. Our agriculture, mineral, manufacturing, alternative energy, and education sectors need to develop and grow first. It will take immense planning, focus, sustained commitment, and perseverance, but we will get there. Until then we must be practical and accept that we need to import certain goods and services in order to sustain ourselves.

The other major present concern is the high level of unemployment. But in time this too will reduce. Industries, sectors / companies will start employing again once they have more confidence in the direction the economy and nation at large is going. Yes, the economic indicators may not look too encouraging, and yes they are important pointers of the nation’s health, but they too will improve as confidence grows.

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Organiser unveils speakers, panelists for the 2024 Industry Summit

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The organiser of the Industry Summit, an annual gathering for professionals and experts in brand marketing, finance, sustainability, and entertainment, has announced the speakers for the fifth edition of the summit in Lagos.

 

 

 

The event themed: Sustainable Marketing for Growth would feature the marketing director of Nigerian Breweries Plc, Mr. Emmanuel Oriakhi as keynote speaker while the head of unit, sustainability at Access Bank, Mrs. Omobolanle Victor-Laniyan and manager brand, strategy & communications at Stanbic IBTC, Ms. Rita Akao would feature as guest speakers.

 

 

 

The summit, which is scheduled to hold on Friday, May 3rd, 2024 at the Marcelina’s Place Ikeja GRA, Lagos would feature some exhilarating panel sessions with some of the contemporary professionals in the Nigerian brand and marketing industry.

 

 

 

The panelists include; Ms. Chioma Mbanugo, Head of Marketing PZWILMAR, Mr. Abiodun Coker, Team Member Media, UBA, Mrs. Mabel Adeteye, Head, Brand & Marketing Communications, Wema Bank PLC, Mr. Kevin Olumese, Marketing Communications Specialist, and Mr. Adeola Kayode, Head, Brands & Creative Services, 9mobile Nigeria.

 

 

 

Others who have confirmed participation are Ms. Aisha Anaekwe, Head, Brands & Comms, Coronation Group, Mrs. Victoria N’dee Uwadoka, Public Relations, Public Affairs & Sustainability Lead, Nestle Nigeria Plc, Mr. Samson Adeoye, Public Relations Manager, Airtel Nigeria, Mrs. Oluwatosin Odiagbe, Marketing Manager, Simba Solar and Ms. Arinola Shobande, Head of Marketing, Showmax.

 

 

 

While Oriakhi would be speaking to the topic, ““New Age Marketing – Catalyzing Transformation Through Value Chain Innovation, Technology, Analytics & Sustainability”, Victor-Laniyan and Akao would present papers on the topics; “Aligning organizational objectives with sustainable marketing for the good of the people, society and business, and “Reimagining Sustainable Growth Through Green Marketing” respectively.

 

 

 

In the press statement signed by the Publisher of The Industry Newspaper/Convener of The Industry Summit/Awards (TIES), Mr. Goddie Ofose, he said that “The 5th edition of the Industry Summit is focusing on sustainable marketing, which is a purpose-driven practice that works to orientate businesses, brands and society towards a sustainable future, influencing appropriate awareness, aspiration, adoption and action across economic and sociocultural systems by taking necessary accountability for its impacts and opportunities.”

 

 

 

“In today’s ever-evolving world, debating whether to incorporate sustainability into business strategy is no longer an option. Considering a values-driven approach when developing business strategies can be vital to long-term success” he said.

 

 

 

Therefore, we have carefully selected these professionals and experts to deliberate on the subject matter, highlight challenges and proffer solutions where private and public sectors could take lessons from and improve upon whatever they have been doing,’ Ofose added.

 

 

 

The Industry Summit/Awards is a brainchild of The Industry Newspaper Limited, publishers of The Industry Newspaper (theindustry.ng) and 789marketing.ng.

 

 

 

The summit is designed to bring together industry leaders across the continent in all sectors in the quest to rev up conversations that will move the Nigeria business, economy and communication industry forward.

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IBEDC records 1,459 energy theft cases in January, February

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The Ibadan Electricity Distribution Company said it has recorded 1,459 cases of energy theft by its subscribers between January and February 2024.

This was disclosed in a press statement signed by the firm’s Chief Key Accounts Officer, Mr. Johnson Tinuoye, on Tuesday.

IBEDC added that it is actively pursuing investigations and legal actions against individuals and businesses involved in the theft in collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences.

Identifying the cases, IBEDC said they included various offences such as meter bypass and illegal meter tampering, which resulted in significant financial losses amounting to hundreds of millions of naira for the company.

The statement read, “We want to send a clear message to our customers that energy theft will not be tolerated. Our collaboration with the Federal Government Special Investigation and Prosecution Task Force on Electricity Offences underscores our commitment to ensuring a fair and just electricity distribution system.

“Energy theft not only undermines the integrity of our operations but also deprives IBEDC of the revenue necessary to provide quality services to our customers.”

Tinuoye emphasised that under the Electricity Act, energy theft is now recognised as a criminal offense, carrying severe penalties including imprisonment stressing, “In the Osun region, two individuals were apprehended for stealing energy through meter bypass and illegal connections. Their cases have been formally charged in court for prosecution.”

IBEDC further urged customers to refrain from engaging in any form of energy theft, emphasising that the consequences can be severe, as there is no room for negotiation with the SIPTEO Task Force team, which is actively patrolling and investigating instances of energy theft for prosecution.

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Copyright Breach: NCC Drags MTN, Others To Court Over Musician’s Works

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The Nigerian Copyright Commission (NCC) has filed criminal charges against MTN Nigeria Communications Ltd. and four others over alleged copyright infringement.

The charge with number FHC/ABJ/CR/111/2024 filed in the Abuja Division of the Federal High Court was obtained by journalists on Monday.

News Agency of Nigeria (NAN) reported that the four other defendants in the case include the chief executive officer of MTN Nigeria, Karl Toriola; Nkeakam Abhulimen, Fun Mobile Ltd.; and Yahaya Maibe.

In the three-count charge, NCC alleged that the defendants, between 2010 and 2017, “offered for sale, sold and traded for business’’, infringed the musical works of an artiste, Maleke Idowu Moye, without his consent and authorisation.

The commission alleged that the defendants used musical works and sound recordings of Mr Maleke with subsisting copyright as caller ringback tunes without the authorisation of the artiste.

The musician’s musical works and sound recordings allegedly infringed upon included 911, Minimini-wanawana, Stop Racism, Ewole, 911 instrumental, Radio, Low Waist, and No Bother.

The defendants were also alleged to have distributed the musical works to their subscribers without authorisation, thereby infringing on the rights of the artiste.

In the third count, the defendants were alleged to have in their possession, other than for their private or domestic use, the artiste’s musical works and sound recordings.

According to NCC, the alleged offences are contrary to and punishable under section 20 (2) (a) (b) and (c) of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

The case has yet to be assigned to any judge, and no date has been fixed for the mention.

Meanwhile, no official statement has been released by any of the defendants as at the time of filing this report, while all efforts to get reactions from MTN by New Telegraph proved abortive.

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