Category: CEO

  • Olanrewaju Alaka honoured with ‘Icon of Youth Inspiration’ award

    Olanrewaju Alaka honoured with ‘Icon of Youth Inspiration’ award

    PR and Communications expert, Olanrewaju Alaka has been honoured with the prestigious ‘Icon of Youth Inspiration’ award by the Nigerian Youth League.

    Sharing his joy on his Instagram handle, @laerryblue, Alaka conveyed his gratitude and excitement over the award.

    He stressed that such recognition underscores his consistent efforts to champion growth and empowerment initiatives designed especially for the younger generation.

    Upon receiving the award, Alaka remarked: “This acknowledgement transcends the award itself. It resonates with the tireless endeavours to uplift the youth by amplifying their brands and ventures. I am optimistic that this honour will motivate many more to collaborate in bolstering young entrepreneurs and their businesses.”

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    Elaborating on the essence of preparing the youth for leadership roles, Alaka (popularly known as Laerryblue) stated: “The upcoming decade will see today’s youth transitioning into significant roles, whether in governance or the corporate arena. My aspiration is to pave the way for this transition, ensuring that these young leaders are adept and equipped to navigate our nation towards unprecedented milestones.”

    A respected figure in public relations, Alaka fervently champions the cause of positive reputation management across Nigeria’s corporate and governmental landscapes. 

    He confidently believes that: “Reputation is the upcoming currency. For Nigerian enterprises to stand shoulder-to-shoulder with international entities, it’s pivotal that our youth are equipped with the tools and knowledge to uplift their ventures through potent public relations.”

    In light of this prestigious recognition and Alaka’s unwavering commitment, the mission to empower the Nigerian youth and their enterprises is invigorated.

  • Pamtech CEO Chidomere Ndubuisi bags International Business Leader award

    Pamtech CEO Chidomere Ndubuisi bags International Business Leader award

    In a momentous recognition of visionary leadership and exceptional business acumen, Engr. Chidomere Ndubuisi, the CEO of Pamtech Group, was bestowed with the prestigious International Business Leader Award by Jamie Pajoel International (JPI).

    The award ceremony took place during the 2023 Edition of the JPI Annual Leadership Conference held in the heart of Rwanda’s capital, Kigali.

    The International Business Leader Award, presented by Jamie Pajoel, Founder and President of JPI, is a testament to Engr. Ndubuisi’s exemplary contributions to the global business landscape. 

    With a track record of innovative strategies and ethical leadership, Ndubuisi’s stewardship of Pamtech Group has propelled the company to unprecedented heights.

    Engr. Chidomere Ndubuisi

    The JPI Annual Leadership Conference, known for bringing together thought leaders, industry experts, and innovators from around the world, served as the ideal platform for Engr. Chidomere Ndubuisi to share his insights on the theme, “Thriving in a Competitive Business Environment.” 

    A captivated audience listened intently as he elucidated the 6A Strategy in an ever-evolving marketplace. 

    His speech touched upon arena, assets, advantage, access, activities and anointing as key concepts he has employed in growing the Pamtech Group from a business of three team members to over 200 in about seven years.

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    He illustrated the arena as the battleground where businesses compete for customers and revenue, the assets as the valuable team members of the business, the advantage is the value proposition of a business over her competitors, the access is the means of engagement between businesses and their customers, the activities as the operations and processes of the business and the anointing as the divine force behind the growth of every business.

    Adding an exceptional touch of leadership, Engr. Chidomere Ndubuisi displayed his commitment to the growth of his team members by sponsoring three of them to attend the JPI Annual Leadership Conference. 

    This gesture showcased his dedication to fostering a culture of learning and empowerment within Pamtech Group.

    The Kigali event served as a melting pot of ideas, with attendees from various industries gaining invaluable insights from Engr. Chidomere Ndubuisi. 

    His practical approach to achieving excellence, combined with a strong emphasis on ethical practices and sustainable growth, resonated deeply with both seasoned professionals and emerging leaders present at the conference.

    The JPI Annual Leadership Conference 2023 also provided an opportunity for attendees to engage in networking sessions, workshops, and panel discussions led by influential figures in the business world. 

    The collaborative atmosphere facilitated the exchange of knowledge, best practices, and emerging trends, contributing to the conference’s overarching goal of fostering leadership excellence.

    As Engr. Chidomere Ndubuisi continues to steer Pamtech Group towards new horizons, his receipt of the International Business Leader Award and his impactful speech at the JPI Annual Leadership Conference stand as a testament to his commitment to innovation, leadership, and progress.

    With renewed energy and insights gained from this global gathering, both Engr. Chidomere Ndubuisi and his team are poised to make significant contributions to the business landscape in the years ahead.

    In an era defined by dynamic market shifts and technological breakthroughs, Engr. Chidomere Ndubuisi’s experience and wisdom serve as a guiding light for aspiring business leaders, reminding them that our assets shape our activities, our advantages influence our access and our anointing dictates our arena’s understanding.

  • ‘Ecological Funds have not been channelled to address environmental degradation’

    ‘Ecological Funds have not been channelled to address environmental degradation’

    The rampaging ecological challenges facing some parts of the country have remained unresolved despite the existence of the ‘Ecological Fund’ meant to address the menace The Director-General, Nigeria Conservation Foundation (NCF), Dr Joseph Onoja, calls for effective use of the Fund, in this interview with Assistant Editor, OKWY IROEGBE-CHIKEZIE.

    How well has the Ecological Fund been put into use by the government?

    Ecological funds have largely not been used for what they are meant to be used for, as they have not been channelled into addressing the real ecological issues in the nation. If they’ve been used well, we would have seen more investment in areas of environmental conservation because the fund was set up in the first place to do that. Unfortunately some governors erroneously use it as part of their security vote. The fund is usually used for different purposes apart from the ecological situation in different states as we have them. It has not been deployed to address real ecological issues. It is unfortunate that we have not really used it the way it should have been used, if we had been more circumspect, we would have seen more investment in areas of environmental conservation and much more. Take, for instance, a state such as Anambra where you have the problem of gully erosion, or in Lagos State, where you have coastal erosion. 

    In many other states, they are struggling with serious deforestation and land degradation, yet the money made for the environmental challenges facing the states are not dealt with. 

    There are several ecological issues that should have been taken care of by all levels of government and what we don’t understand is that ecological issues have social and economic impact. 

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    The Ecological Fund runs into trillions of naira, but unfortunately, as I said before, it is not used for the purpose it is created. Rather it is treated like the governors’security vote that is not captured or accounted for. 

    The issue of conflicts as a result of pasteurisation and farmers would have long been taken care off if the funds have been well-utilised. Our policy makers and political leaders should come up with measures on how the nation’s resources can be better managed and by so doing avoid conflict that usually occur over competing interests. There is no gain saying the fact that we have lots of challenges as far as the issue of environment is concerned.

    What is the difference between deforestation and afforestation?

    Deforestation is when a natural forest that has been standing is cleared, while afforestation is the opposite. Afforestation strictly is a place where there was no forest before, and you plant trees to make it a forested area, this is done, especially to maintain a balance in the environment. Regeneration is allowing the forest to grow by itself, and this can be achieved by managing the place and keeping it safe from intruders by ensuring that the public does not have access to continue to clear it.

    How does the environment benefit from carbon credit?

    Carbon credit is the money you get when you allow a tree to stand. Where a tree is allowed to stand, it stores carbon without allowing it escape into the atmosphere. So, allowing a tree to absorb carbon and purify the atmosphere, a particular nation collects credit. Nigeria would have been earning enough from Carbon Credit if our policy makers knew what to do. We have laws in the environment sector. Our challenge is implementation. Also, we are free to domesticate and strengthen the laws governing the sector, if applied it will help position the sector for growth and competitiveness. But if not, it would continue to degrade it. If we can apply this we would have solved a larger percentage of our problems. The challenge, however, is that there is no strict enforcement of our laws, that is why somebody can just get up and  go into a particular forest and start cutting trees and logging them and exporting them, albeit, illegally. I feel strongly that the government should ensure the laws are active and enforced because if the laws are not implemented, we will not achieve much. Currently, a lot of illegality is going on in the sector but if we put in the right measures, the environment would be improved between 50 and 70 per cent. 

    People just go on as if there is no law guiding the sector, but if we dust the laws and implement them they will serve as a check with the public knowing that there will be grave consequences for illegal logging and every other environmental laws’ infraction.

    How can the nation ensure that the ecology is preserved, especially through greenery?

    The environment law enforcement agencies must be strengthened and enabled to build their capacity to be able to enforce laws, we need to make our laws to first of all deal with contemporary issues and then make them enforceable. If we do the right thing in the environment sector we will spend less on health and other sectors thereby making enough money for the prosperity of the nation. 

    If people don’t live well, you have to spend more money to take care of them, but if the environment is conducive, then you don’t have to spend too much money on them. We spend money buying arms and ammunition to battle banditry, but if we had done the right things we will not be challenged as much as we are today, security wise. 

    The degradation of the environment has taken its toll on the environment; it has resulted in high level unemployment and the youths taking up arms against the society. There is evidence of high crime rate among the youth population to make ends meet. For instance in a particular locality, if you have somebody whose farm has been taken over by desert, that person will want to move , and when the person is moving, he will meet another person who is settled in his land and would use any means to resist a particular intruder and there could be conflict. If care is not taken, there will be superiority battle just as we are having in the Northcentral and other parts of the North where herders are accused of destroying farmlands, making farmers to lose their farms and income. But, if we have compelling laws on the environment there will be restraint on both sides. The daily and unnecessary bloodletting will be a thing of the past and the nation will be better for it.

    What’s the story behind the Nigeria Conservation Fund (NCF)?

    The Nigeria Conservation Foundation (NCF) was founded in 1980 and was registered as a charitable Trust in 1982, by the founder Chief Shafi Lawal Edu. 

    In those days, the issue of conservation was not well known in Nigeria so it became the foremost Conservation authority coming up with a lot of conservation initiatives and many advocacy which influenced some polices even at the national level, including the issue of environment and the protection of endangered species which was signed into law in 1984 by Muhammadu  Buhari when he was Head of State.  

    As a result of our various fields of work in 1986, we led a field work that discovered that Gorilla has not gone extinct, leading to the establishment of Eko Esai Community Forest Reserve in Cross River State. Since then, we have been working closely with some states and the Federal Government. Our contribution in this area led to the formation of Federal Environmental Protection Agency (FEPA). 

    NCF worked in Okomu National Park in Ovia Southwest of Edo State as a wild life sanctuary for endangered species, before it was handed to the National Parks. Today, we sit on the board of the National Park Services. Again, our activities in so many other areas led to the formation of the National Council of Climate Change, different committees   relating to issues in the environment and conservation. We continue to intervene and influence policies that will help Nigerians have a conducive environment.

    Has far has NCF stretched its collaborative efforts across the country? 

    In the course of our work, we worked with Taraba/Adamawa State where we implemented some projects on forest management which led to the formation of Gashaka-Gumti National Park. 

    We are in Ogun State where we are managing and foresting on behalf of the state; we have been doing that for the past 20 years and we influenced their wild life and forestry law that has since been passed. In Yobe State we have Hadejia-Nguru Wetland so we have been managing that wetland as well in conjunction with the National parks services. 

    Still, in the spirit of robust collaboration, the NCF teamed up with First City Monument Bank Plc (FCMB) in the provision of practical solutions to the menace caused by plastic pollution to commemorate this year’s World Environment Day (WED), as we provided recycling, upcycling and beach clean-up. The activities took place on June 1 and Friday, June 2 in Lagos. A beach clean-up exercise was carried out at Okun-Ajah beach to advocate actions that promote solutions to plastic pollution to the members of the Okun-Ajah community, Eti-Osa Local Government Area. The event involved school children, community members, and officials of NCF and FCMB. 

     Do you have supervisory role on any government agency as a result of the various collaborative works with both states and Federal Government?

    No, we don’t have any of such role because we are a Non-Governmental Organisation (NGO). We partner with government to build their capacity; we also hold workshops with them because sometimes even some of the law enforcement agencies don’t even know that some animals, birds and trees are in danger of extinction. 

    To help the government and her agencies, we organise workshops to train them. The last one we organised was on Wild Life training where we illustrated what it takes to protect wild life. I must make it clear that when we talk of Wild life, we refer to plants and animals. Unfortunately, when we train the respective officials on best practices, the laws are still not implemented. We are not law enforcement agents; we can only encourage enforcement agencies to do their work and arrest any person engaged in contravening the law because at the end of the day it would affect all of us. When you willingly destroy nature provisions to mankind, not even money would be able to provide all that.

  • ‘Our level of intensive agric is too low for the population’

    ‘Our level of intensive agric is too low for the population’

    Rising food inflation is a source of concern to many, including the government and other stakeholders in the country. Chief Executive, AFEX Commodities Exchange, Ayodeji Balogun, in this interview with DANIEL ESSIET, says he is convinced that in addressing food inflation, several options like promoting technology, and investments are needed to revamp the agric sector as well as ensuring the availability of affordable food for Nigerians.

    The country is experiencing food inflation. From the trends leading to this, do you think food inflation has peaked or is there more to come?

    Inflation is a yearly price adjustment. It tells what the price was this year versus what it was last year. And so inflation can be higher this year and lower next year or vice-versa. But, if we are able to keep the prices the same next year, then inflation will drop.

    As an indicator of itself, it doesn’t necessarily mean that the price of food will reduce to the point that it is affordable and accessible to an average Nigerian. But ultimately, as a country, we have to seek for affordability of food. So, today, food is about 80 per cent of household spend. This means that an average Nigerian does not have enough for any other thing besides food and transport. This is a critical problem, because how they pay for education, healthcare will become a challenge. How do they build shelter, and meet other needs? If you look at our food production, per capita is declining. So, even though we are increasing the food we are producing, the growth of the population is faster than the food increase.

    To control and manage the shortage, you look at prices. Prices were relatively low at the farm gates up until March, April, May. Now we are starting to see some increased prices. Maize was about N230,000 in the North, up until May. Today, it is between N280,000 and N290, 000 per metric tonne.  And, then, if you look at that, add transport cost to get to the market in Lagos and Ibadan, you see this increase of up to 25 per cent on the food prices. Some of the causes of food inflation are those like transportation factored into it, and because of the additional pressure of fuel prices, food inflation will continue to go up.

    What can the government do to bring food inflation under control?

    Nigeria uses 1.5 million metric tonnes of fertiliser to feed 220 million people. Ethiopia, which is a significantly smaller country, uses 1.2 million metric tonnes of fertiliser to feed about 80 million people. Kenya uses over a million metric tonnes to feed about 40 to 45 million people. Our level of intensive agriculture is too low for the population that we have. So, we need to create a strategy that allows us to produce more food, increase the yields on the farm, and the productivity of the farmers. And, then, when you have more supply, prices will crash. Even if you look at prices, maize in Nigeria is at selling at N300,000 per metric tonne. If you convert that to dollars, that’s about $400. Maize in the international market is below $200; indeed about $190. Our food prices are expensive, even within the country. We know that there is a ban on importation of maize. That means we have to buy what we produce. And what we produce is not enough to feed us. If you also look at rice, there has been significant progress in production, the quality is there. There have been a lot of investments in rice mills that are set to run. However, the  feedstock of paddy rice to feed those mills have not increased significantly. Since COVID-19, when we had a lock down at the borders, paddy rice have stopped coming from neighbouring countries to Nigeria. We have seen a significant increase yearly on the cost of paddy.

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    Paddy rice is about N370, 000 per metric tonne at the farm gate level, which invariably gets the finished product closer to N40, 000 per bag of 50 kg rice. And you can still get an imported bag from Thailand into the country and neighboring countries at N25, 000 and N28, 000. So you see that our cost of food is higher than the international markets. And the only way to correct this is wholesome intervention in the productivity of farmers across the country.

    What would you say are the  key strengths and weaknesses of Nigeria’s agri-food industry?

    First is that we take on rice, for instance. Now if you take a look at local premium rice, the quality is  even better than the imported  one from Thailand; so the quality of our rice has been a lot better, unlike in the past when you had stones in it. I don’t think anybody has ever bought Nigerian rice and found stones in it. That’s one improvement, the technology is available. People understand the business. And we have a number of rice mills that are operating world-class machinery. The equipment is there. And that’s one value chain that has witnessed significant progress. We are seeing some very good progress in the feed milling sector, even though the poultry farmers are losing money, lots of poultry farms are shutting down.

    But the feed milling sector has seen in a number of consolidation. A lot of new investments coming into the poultry sector- those are some of the strengths of the sector. Ultimately, the biggest thing that I think, you know, if you look at this decade is the influx of youths in agriculture.

    Young educated people are coming with modern approaches to farming.You’re seeing a lot of hydroponics, vegetative cultivation, greenhouses, and urban farming. And these are high value products. Somebody who has one room can put it to intensive technology farming. He can produce enough cucumbers and vegetables that you can get from one acre of land- just one room. And, then, he can produce in multiple cycles year round. Those innovations are things that we are seeing, and are very promising. We are seeing a lot of science and technology, convergence of technology and agriculture. A lot of software engineering, hardware engineering, we are seeing some of those things where they have not hit scale, where they can affect aggregate output. A lot of them are still small pots that are connecting, but the chain growth is really impressive and encouraging.

    What is likely to affect the future of agriculture? Where do you think the government should really focus on apart from rice and agric technology?

     The biggest power of Nigeria, as well as Africa economies, are the people. This is the first time, after a very long time, almost two to three decades that we are having educated young people who are choosing agriculture as a profession.

    The question is, how can the government intervene to maximise their potential and change the way farming is done unlike how it was done 60 years ago. How can we create dedicated intervention schemes? Before building any additional policy, it is absolutely a must that farmers have a digital identity, which tracks and ties them to their unique farm assets. And this has to be an identity that is built on the Nigerian identity management system.They take NIN and upgrade it into a digital agriculture identity. India has the same system that is used to administer millions of its farmers. About 120 million farmers are under the Indian identity management system for agriculture. Look at any intervention that the government does. There’s a big challenge with the Anchor Borrower Programme and a few other interventions. We cannot even track who the beneficiaries are or what the output is; how many crops did they produce. What is its impact on food security? How much did the farmer sell, and whom did they sell the commodities to? That’s one of the very extremely important part that the government must do.The second that the government must do is the emphasis on commodities exchanges. When you look at the entire production system, and the approach of the previous administration in the last three to four years has been focused on the supply side. How can we help the farmer produce more? There’s been very little focus on the demand. Most of our interventions have not been market led. What do we see from the tabulation of the campaign and the acceptance speech of a president is a dedicated macro approach to drive agriculture. What commodities exchange  do everywhere in the world, based on the understanding of what the food processing industry, international buyers markets and the capital provider needs, is to bring the players  together and use their requirements to galvanise production.The farmer doesn’t worry about who is giving him a loan. He doesn’t worry about who is going to sell it. He doesn’t worry  where he is going to store his grains. He  is just a member of an exchange. An exchange provides these services as a bundle.

    How does AFEX galvanise farmers, especially in achieving modern technology in farming?

    That is what AFEX has been building in the last 10 years. We are extremely proud that the administration has approved this approach to look at development of the agricultural sector, and the broader food systems. And this is going to be extremely critical. We see it as a brilliant solution. We, as AFEX, are extremely positioned and happy to support this. We are galvanising our technology, knowledge in a way that can help the government achieve the mission, though this is policy strategy.

    What are the merits of the regional commodities exchange and the marketing boards’ formula?

    Let me clarify again that the direction of the government is to run regional commodities exchange. Specialised regional commodities exchanges that meet the farming requirements of the regions where they operate and, then, drive productivity of farmers, ensure quality of grains are kept  sacrosanct and connect the farmers to the market.The exchanges will drive export out of the country. Every commodities exchange connects to export windows of the Federal Government. The produce exported would be traded, so the government will have what is actually coming in. What we have is a situation where exporters undervalue their invoice. This enables them to repatriate   only a portion of what they actually earn from the export market.

    While the government is driving the regional commodities exchange approach, people refer to the success of the marketing boards’ formula in Ghana. What are the merits of the two systems? People identify the lack of warehousing receipt system in our present agro commodities exchange framework compared to countries in East Africa.  Which one is pragmatic considering our peculiar economic challenges?

  • Stylish Melora unveils 2023 collection, redefining African Fashion with ‘Serendipity’

    Stylish Melora unveils 2023 collection, redefining African Fashion with ‘Serendipity’

    Nigerian-born fashion designer, Uju Monalisa Oseboh, has captivated the fashion world with the unveiling of her 2023 collection for her fashion house, Stylish Melora.

    The designer showcased her latest women’s ready-to-wear collection, titled “Serendipity: ‘Finding Something Beautiful’,” at a prestigious fashion event, leaving attendees in awe of Oseboh’s creativity and beautiful designs.

    According to her, the “Serendipity” collection is a blend of local prints with modern tailoring methods.

    It features a pulsating array of colours, sophisticated patterns, and rich textures, all of which the Stylish Melora brand is known for.

    The collection also includes Ankara print designs with unique elements, making each piece a true work of art.

    Speaking about her inspiration for the collection, Uju Monalisa Oseboh said: “Serendipity is about finding something beautiful in unexpected places.

    “I wanted to create a collection that makes our women and children comfortable and at the same time showcases the beauty of African print to the rest of the world.

    “These collections are easy to wear and can be worn to different occasions depending on the one you pick.

    “It has been our mission to expose the African culture to the world through fashion and our prints, and we are glad that the world has accepted us,” she said.

    The “Serendipity” collection marks yet another milestone for Uju Monalisa Oseboh and Stylish Melora, solidifying their reputation as one of Nigeria’s leading fashion houses.”

  • How film industry generate revenue

    How film industry generate revenue

    On the surface, the movie industry appears hugely successful with promises of fame and money. From the big red-carpet movie premieres and award shows to the flashy lifestyle of some movie stars and producers, one would instantly think that money overflows in the film space. But how does the money flow into this industry? Or is it all a hoax?

    In 2021, the combined global consumer income on theatrical ticket sales, home entertainment, and pay-TV reached $328.2 billion. Although that figure comes from the worldwide film space, major film production companies in the US dominate the market and account for a large percentage of revenue earned. The Big Five majors – Universal Pictures, Paramount Pictures, Warner Bros., Walt Disney Pictures, and Columbia Pictures distribute hundreds of films yearly to all relevant international markets.

    Does this mean that film production companies make money from distribution?

    It is a known fact that these five major film companies own smaller independent companies that handle most of the production. The Big Five focus mainly on financing, marketing, development, and merchandising.

    The pandemic has forced big studios and independent filmmakers to stop relying solely on making revenue from ticket sales. The global box office for films went down by 72% in revenue, making a low $12 billion in 2020.

    In Africa, the Nigerian film industry is the largest in volume, the number of films produced annually, revenue, and popularity. The African production and distribution industry makes about $5 billion in revenue, and employs 5 million people. This figure is a meagre percentage of the global revenue, evidence that the film and video content industry in Africa doesn’t have the same economic stronghold as the North American film industry.

    The good news however, is that the digital revolution has triggered the rise of new-form content beyond the traditional film and TV productions. This same revolution has blurred the lines between all forms of video content as they now share similar modes of production and consumption. However, there remains a big difference between how traditional production companies and digital content businesses make money. Content businesses have multiple sources of revenue through sponsored ads, subscriptions of different plan levels by viewers, and DVD rentals. As for production companies, they make licensing agreements with distributors. The distributors are responsible for setting release dates, paying for marketing, and organising deals with cinemas. Production companies can either lease the distribution rights or share the profit. In uncommon cases, the production company is also the distribution company like Disney for Star Wars Episode VII, which has made over US$2 billion.

    However, most production companies will find the profit-sharing model a safer bet if the film doesn’t do so well. Production companies mainly profit from distribution to theatres. Other ways they make money include; selling TV and international rights, merchandising, and foreign sales.

    On the other hand, a new post-pandemic trend has production companies partnering with digital streaming platforms like Netflix and Amazon Prime, thereby making them diversify their sources of revenue.

    This in no way changes the position the cinema has as the traditional content window for movies. Film production companies still make most of their profit from the opening weekend of a movie. However, not all movies go through this route. Some are released through different mediums simultaneously, and others are released directly to video without theatrical releases.

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    The film industry has witnessed a lot of evolution in the channels through which they’re distributed, especially with the rise of users on the internet. Platforms like YouTube allow content creators and producers to monetise their content if they have 1,000 followers and more. Feature films can also be released directly on the site. To better prepare for the local content boom, especially in Africa, the Google-owned video service has set up a #YouTubeBlack Voices Fund to provide financial and technical support for creators, including content producers from Kenya, Nigeria, and South Africa.

    Social Media platforms like Facebook, TikTok, and Instagram are also joining the wave of the digital revolution in content production by allowing African creators to earn directly from the work they create.
    In sharp contrast to about three decades ago, filmmaking in Nigeria is in a new era, thanks to the rapid growth of digital film technology. African production companies don’t have specific business models for profit-making. Some generate the bulk of their revenue from ticket sales, while others use video-on-demand (VOD) platforms, social media platforms, or a combination of these media. Netflix is Africa’s leading subscription VOD operator with over 2 million subscribers.

    The streaming giant’s arrival in the African video content scene has increased the switch by many content producers to VOD away from traditional cinemas. There are also local VOD operators like ShowMax and Iroko TV.

    Aside from local streaming services, here in Nigeria we also have case studies of film production companies and studios which seem to be making all the waves across the Nigerian movie landscape. We have the following case studies:

    • EbonyLife
    Filmmaking companies like EbonyLife have set the pace in revolutionising the African filmmaking industry. So far, the company has produced the highest-grossing dramas in Nigeria such as The Wedding Party, Oloture, and The Blood Sisters, its latest limited four-episode series in partnership with Netflix. The company is at the forefront of taking Nigerian/African content globally through partnerships with international studios.

    Despite its successes, the company has also suffered setbacks. An example is the aftermath of Chief Daddy 2, which was critically panned and wasn’t as commercially successful as other movie productions by the studio.

    • Ultima Studios/Endemol
    Ultima studios’ most notable productions and adaptations are Project Fame, Who Wants to Be a Millionaire and Lion’s Den. The full-service media and entertainment company is a forerunner in producing entertaining and compelling content. It also has a distribution division for original or locally-adapted content, and third-party-owned content.

    These companies are promoting African content and are taking the Nigerian filmmaking and content production companies to a new level. Despite these achievements and progress, Nigerian and African companies continue to struggle.

    This is because African content companies, particularly in Nigeria, struggle to reach the standards of their counterparts in other continents due to low or the lack of government incentives and enabling policies. There is also the decades-long issue of piracy and intellectual property theft. The lack of substandard digital infrastructure contributes to the numerous challenges production companies in Nigeria and Africa face. Asides from that, the cost of production for quality movies is usually sky-high and this serves as another limiter to the extent of success African production companies can attain.

    This therefore poses the question, why does global content cost so much?
    It’s no surprise that big film production studios do not give up their entire budget. A total movie budget covers production, development, marketing, and advertising. If the production budget for a movie like The Avengers is evaluated at $220 million, how much do you think the entire budget combined with the other costs would be? Some films might also have higher promotional budgets compared to their production budgets. All of these extra costs account for the high costs of global content.

    Content houses or production companies led by celebrities might seem more profitable than smaller independent houses. However, they don’t possess immunity against the same challenges that face other production companies.

    There are different ways film production companies make money. However, there is no fool-proof way to ensure that movies make money. Several factors come to play in determining how much money a movie production rakes in. One thing is for sure, ticket sales are losing their place as the most relevant source of revenue for filmmakers.

    Netflix’s arrival in the African film industry is proof that although the industry isn’t as economically viable as it should be, it is on the right track, as African content is now more accessible to a global audience.

  • How cleaning firms, practitioners can survive hard times, by Engr Pompey

    How cleaning firms, practitioners can survive hard times, by Engr Pompey

    • By Asiwaju Ezra

    The CEO of Punpin Concept Venture Dr Awosanmi Olutayo aka Engr Pompey has called on cleanerpreneuers to rise to the changing faces of the cleaning industry.

    He said the cleaning was undergoing many innovations that must be handled well by owners of cleaning firms.

    The cleaning coach, who is also the CEO of PCV Training Academy, one of the cleaning academies in Nigeria, said many cleaning practitioners have complained about absenteeism and disappointment among workers.

    He said many clients are also unwilling to accept increase in prices despite the rising costs of production, leaving many cleaning practitioners seriously challenged.

    Engr. Pompey emphasised that the cleaning industry has undergone remarkable transformation in recent years, which has forced cleaning practitioners to seek knowledge and train workforce regularly.

    To manage the current situation, he advised companies to develop customised cleaning plans and schedules that ensure every working hour counts and shows productive results.

    He also suggested that cleaners integrate smart technologies such as robotic vacuum cleaners and smart sensors that monitor cleanliness levels, to address the rising absenteeism of the workforce.

    Engr. Pompey also advised that counselling be provided to boost the morale of workers during this challenging period and rewards for excellent performance be encouraged.

    According to him, employers must be prepared to bear the cost to keep the business going and retain the quality of service they deliver.

    To ensure a fair balance, employees must increase productivity, especially in the area of sales or generating income for the company.

    Engr. Pompey advised every cleanerpreneur or service provider to price their services effectively, considering all necessary factors before offering quotations to clients.

    In his opinion, it is better to break even than to lose on the job or transaction.

    Engr. Pompey urged the federal government to support citizens and businesses during this difficult period, saying that the multiplier effect of the removal of fuel subsidies is having a significant impact on the prices of goods and services.

    He also reminded cleanerpreneurs and service providers that not everyone who is a consumer is their customer, and that they should avoid the temptation to take fewer offers for a job, as this could damage their quality standards and reputation

  • Institute recognises Ude, awards doctorate degree

    Institute recognises Ude, awards doctorate degree

    The Institute of Leadership Manpower and Management Development (ILMMD), an APHA University licensed under Laws of the Federal Republic of Nigeria (LFN) has awarded the Doctorate of Philosophy in Global Leadership and Organisational Management Development (Honoris Causa) on Dr. Ijeoma Ude.

    ILMMD is a professional body revered for administrative and leadership prestige competencies with membership made up of top, middle and lower-level executives and administrators, as well as leadership in power and management development experts, specialists, coaches, consultants, trainers and spokespersons.

    The ILMMD is fully accredited by the Federal Government of Nigeria through the Federal Ministry of Education and licensed by the Corporate Affairs Commission as a professional body of leadership, manpower (Human Resources) and management development.

    Read Also: Mercy Chinwo’s husband bags honorary doctorate degree

     Ude, who is the Chief Marketing and Sales officer (CMSO) at BusinessDay, was recognised for her myriad leadership competencies and organisational management across Nigeria.

    Her admirable contribution to leadership, manpower, human resource and management development in the society, and her academic attainment both from Nigerian and other international Universities, contributed to the reason for this noble recognition.

    Dr Theophilus Cornerstone, the Dean of membership, (Director of membership for the institute), charged the awardees to show their leadership proficiency and honesty wherever they find themselves.

    He also charged them to show outstanding professionalism in their areas of leadership responsibilities, to be the most sort after visionary-leaders in the society, be exemplary leaders in accountability, transparency and innovation, and be progressive minded leaders that ask questions on how to make positive lasting impact on others wherever they find themselves.

    Ude expressed appreciation to God and the Pan African Institution for endowing her with such a great recognition.

    She commended the institute for shaping the lives of distinguished fellows and its impact in developing leaders through various leadership trainings in Africa.

    “This institute is commended for its great impact in influencing people to be useful in their organisations and the society. I see this honour as another call to serve. It has further encouraged me to consistently lead the pace for good leadership in my organisation and by extension, the global community,” she said.

  • Stanel boss Uzochukwu breaks records in Suleja prison visit

    Stanel boss Uzochukwu breaks records in Suleja prison visit

    There was rejoicing at the Suleja Prison when Dr. Stanley Uzochukwu provided the inmates with food items, medication and other items in one of his recent visits to the Correctional Centre to celebrate his triplet’s birthday.

    While he was singing, dancing and worshipping with the inmates, one of them permitted access to Uzochukwu whispered to him: “Sir, I am being held here because I have nobody to pay my fine of N50,000”.

    Uzochukwu ordered that the list of all inmates with an option of fines and those without legal representation should be made available for immediate payment and legal services for their freedom.

    Read Also: Ramadan: Emirate Council commends Stanel CEO Uzochukwu for hosting over 3,000 Muslims

    Overwhelmed with the joy he saw in the faces of the inmates praising God at the Prison’s fellowship, the Chairman and Chief Executive Officer (CEO) of Stanel Group, also pledged to donate state-of-the-art musical instruments to replace the old ones.

    On Saturday, May 27, two weeks later, the philanthropist made good his pledge to the Correctional Centre, surprising the management and the inmates in the facility with more than what was pledged.

    In addition to the donation of the multi-million musical instruments, which include two master piece combo speakers, two master piece standing speakers, power amplifier, set of drum, mixer, 55′ smart television, set of wireless microphone, keyboard and others, Uzochukwu paid the fines and legal services for all the inmates on the list.

     He fed over 500 inmates with rice and chicken and donated about 1,000 loaves of Stanel bread to the inmates and the staff.

    Reacting, the Officer in charge of the Suleja Correctional Center, Abdullahi Madaki said: “This is the biggest aid we have received from an individual or group in this facility.

    “Many have come to make pledges like him but they never come back and the pledges never redeemed.

    “We thank the CEO of Stanel Group, Dr Stanley Uzochukwu who has come to assist us and our inmates.

    “We are very appreciative of what he did for us. It will go a long way to assist us in the area of reformation, rehabilitation and reintegration of the inmates. It’s this type of religious activities that are giving us hope.

    “That’s why we have absolute control of them. By the time they will be using all these instruments, their mind will come down.

    “Once again, we are happy and appreciate the donor for his magnanimity.”

    Excited and overwhelmed by the gesture, the inmates said: “Different people and organisations have been visiting us with promises but they never come back. But this man even did more than he promised us in less than two weeks. May God bless Dr. Stanley Uzochukwu for us for making us happy.’

    Stanel
  • Oil mogul Jack-Rich celebrates wife @30

    Oil mogul Jack-Rich celebrates wife @30

    Dr Elizabeth Jack-Rich on Thursday, May 18, clocked 30 and prominent Nigerians, including her husband, Tein Jack-Rich, have set out to celebrate this delectable beauty and impressive brains.

    Extolling her virtues in a special birthday message, Jack-Rich said his wife’s birthday celebration would be a unity and peace advocacy event in Lagos on Tuesday, May 23.

    The All Progressives Congress (APC) presidential aspirant said the celebration would be an instrument to gather Nigerians in leadership and persons from all walks of life, to share love and break bread.

    He said: “I am greatly honoured and privileged to say that it came as an occasion of good tidings to continue to speak to Nigerians at home and abroad, sharing the need for a new dawn in our great Country.

    Read Also: Jack-Rich hails Tinubu at 71

    “Your service to humanity shall fetch the needed cohesion for a rebirth, and to achieve public good.’’

    And with his usual selflessness and love for humanity and country, Jack-Rich envisions his wife’s birthday celebration as a tool for cohesion, unity and sharing of love.

    “As your birthday throws the smiles of a new beginning needed for a prosperous and more sustainable future, under cutting-edge visionary leadership, participants shall leave fulfilled.

    “I am sure your birthday celebration shall usher in that hope for secured peace, renewed hope for the less opportune, supplies for the good and advancement of society,’’ he said.

    Born to Jewish Nigerian parents from Owoh, Ondo State, Mrs Jack Rich, is a philanthropist, an entrepreneur and business mogul.

    She is the Chief Executive Officer of Elin Group Limited, Rich Aid Foundation (EJRAF), an organisation with a vision to empower youths and women, eradicate poverty, promote education, health and financial inclusion, whilst preventing child and drug abuse in underserved communities in Nigeria.  

    Her vision to add value to humanity is aligned with her husband’s unending passion to improve the lives of striving individuals.

    End