The Nation Newspaper

Tag: solution

  • Efuelite Solutions: Pioneering excellence in Fintech 

    Efuelite Solutions: Pioneering excellence in Fintech 

    Efuelite Solutions Limited, rooted in Nigeria and founded on standard enterprise industrial principles, stands as a beacon of innovation and reliability in the dynamic landscape of technology and enterprise. 

    President Prince Efue, the visionary force behind the company since its inception in 2006, has not only upheld the core principles of customer service, quality, and trust but has propelled Efuelite Solutions into becoming an industry standard in bespoke software development.

    Efuelite Solutions, incorporated in 2016 as a subsidiary under Efuelite Group LTD., has charted remarkable growth in its product lines and services. Embodying a can-do spirit, the team of engineers and technical staff consistently integrates new and innovative ideas into their products, pushing the envelope and raising the bar in innovation and quality.

    Prince Efue shares his vision, “We’ve built Efuelite Solutions on principles that prioritize customer satisfaction, quality, and trust. Our commitment is to meet industry standards and exceed them, setting new benchmarks in the bespoke software development market.”

    Beyond Nigeria’s borders, Efuelite Solutions has extended its reach to markets in Africa and Europe, a testament to the global impact of its cutting-edge products. The company’s dedication to quality and customer satisfaction is evident in its products and the comprehensive support and services they provide.

    Efuelite’s IT services encompass the entire life cycle, offering high-level consulting, detailed project designs, and implementation. The company understands the critical need for reliable IT systems in businesses, and its approach is geared towards developing long-term solutions that evolve with the needs of growing enterprises.

    Prince Efue emphasizes, “We are not just in the business of technology; we are in the business of bridging the digital divide. Our goal is to educate, empower, and enable by applying new and emerging technologies in IT. We refuse to compromise on quality, setting high standards and continuously improving our products and services.”

    With a commitment to reliability, innovation, and customer-centric solutions, Efuelite Solutions is not just a technology company; it’s a driving force in the digital transformation journey, earning trust and exceeding expectations in the ever-evolving world of fintech and IT innovation.

  • Not the solution

    Not the solution

    • Telcos’ bid to apply different tariff regimes in states will negatively affect subscribers

    Plans by telecom companies to introduce different tariff regimes for calls, data and other services, as a counter measure to multiple taxation and harsh business environment in some states, is generating a heated debate. The Chairman, Association of Licensed Telecoms Operators, Gbenga Adebayo, argued that maintaining a national tariff was no longer feasible. On the other hand, the President of the National Association of Telecoms Subscribers (NATS), Adeolu Ogunbanjo, chided the operators.

    He told a newspaper: “We are not going to agree to that. We should be fighting the cankerworm (multiple taxation together), not this. Why do they want to add to our (subscribers’) burden?”

     Both sides have a good case. Multiple taxation is a business killer, and every business would take all lawful steps to ameliorate that. For the consumers, the present tariff in the face of national economic downturn is burdensome enough, and they would fight to forestall any further increase.

    So, where lies the solution? We believe the answer lies in the reduction, if not total elimination of unfair multiple taxes by states. But to justify the proposed plan to tax consumers differently, especially in the eyes of the customers, the alleged multiple taxes and the concerned states should be put in the public domain. That would help the government of those states to either tame their appetite for multiple taxes, or choose to face the wrath of the public.

    Multiple taxes are a disincentive to businesses, which in turn affect employment opportunities. We urge concerned states to desist, as a fairer tariff by telecom companies would be an incentive for citing businesses in any state. If the taxes complained about are made public, perhaps reprieve may come the way of the telecoms companies, and that would save the baying customers from further economic stress. After all, they bear the brunt of any increase.

    That explains why the NATS is in court against the Federal Government, to strike out excise duty on telecom companies as provided for in the Finance Act. For, when the companies are complaining about harsh business environment, the impact affects their customers. But a comparison of the impact of the harsh economic condition on the people vis-à-vis the telecom companies shows who is more impacted. While the majority of Nigerians are getting deeper into multi-dimensional poverty, the telecommunication companies are declaring huge post-tax profits.

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    According to a business daily, MTN Nigeria was the most profitable Nigerian company in 2022. The company “reported a 22.12 percent increase in profit to N269.04 billion in the nine-month period from N220.31 billion in the same period of 2021.” The company also reported “N950.09 billion revenue, a 20.07 percent increase from N791.26 billion recorded in H1 2021.” Telecoms companies generally recorded N23.982 billion foreign direct investments (FDI) in Q1 of 2022, which is a 2.6 per cent increase year-on-year when compared to N23.356 billion recorded in Q1 of 2021. By the end of 2021, the FDI rose to 75.6 billion dollars.

    So, the telecoms industry has become the goose that lays the golden egg, both for the country and the shareholders of the various companies. According to the Executive Vice Chairman of Nigerian Communication Commission, Prof Umar Danbatta, “The growth trajectory continued this year as telecoms and information services sector in Nigeria delivered a handsome N2. 508 trillion in terms of financial value contribution to the nation’s GDP, representing 14.13 per cent in the first quarter of 2023.”

    As the saying goes, sauce for the goose should be sauce for the gander. The Nigerian telecommunications consumers must share in the increasing wealth of the industry. A tariff increase under any guise is an unfair reward for their (consumers) contribution to the growth trajectory.

  • MKOBO Microfinance Bank unveils FestiveSave Solution

    MKOBO Microfinance Bank has introduced a new digital savings solution that allows customers to save specifically for festive periods.

    The solution, called FestiveSave also allows customers earn up to 10 per cent bonus on their savings. Users will cash out both principal and the bonus as lump sum at maturity.

    At the moment FestiveSave allows users to save for top four of Nigeria’s biggest festivals including Christmas, Eid Kabir, Easter and Eid Fitr. Each of these festivals comes as a package for which users can subscribe to.

    Speaking at the launch of the product in Lagos on Tuesday, Chief Executive Officer of MKOBO Microfinance Bank, Habeeb Adeokun said: “We came up with FestiveSave because we realized how festive periods have become integral parts of our lives, but can sometimes be an expensive and stressful time if we are unprepared.

    “While they may seem far off, planning and saving as early as possible can take the pressure off your wallet in the months to come. It’s often a good idea to set up a savings account specifically for the festive season with an automatic payment into it every payday to help you save, and that’s where FestiveSave comes handy.”

    He added: “With FestiveSave you won’t have to borrow money, you’ll come home relaxed, not restless with money worries when the festive season comes.”

    All the four packages allow users to determine a regular savings amount, start date and how often to save with withdrawal usually set between 4 to 2 weeks before the festive day.

    An important feature of FestiveSave is its security features. It is built with bank-grade security at its core. Its payment processor is the Payment Card Industry Data Security Standard  (PCI-DSS) compliant for the security of user’s payment information.

    New users can start saving by creating an account with FestiveSave and setting up a user profile. They can then select preffered FestiveSave plan and decide how much they want to save and how often. Currently, only the monthly option is available with more options to be added soon.

    To facilitate recurring savings into the account, users would have to link their ATM/Debit Card to their accounts.

    They can then watch their money grow monthly and withdraw their funds a few days before the festive celebration.

    “There is no gainsaying the fact that through FestiveSave, our customers can begin to take the first major step to having hassle-free festive celebrations. Saving up for a major project ahead, including the festive period is usually a smart personal finance decision, and that is why we believe this product will resonate with millions of Nigerians,” said MKOBO’s Product Manager, David Arogundade.

  • Don proffers solution to LAUTECH crisis

    Ladoke Akintola University of Technology (LAUTECH) pioneer Deputy Vice-Chancellor Prof Isaac Adebayo Adeyemi has advocated the re-introduction of tripartite meeting involving the Vice-Chancellor and the education commissioners of Osun and Oyo States to resolve the university’s crisis.

    The professor of food science and engineering made the call while delivering LAUTECH’s second valedictory lecture at the main campus in Ogbomoso yesterday.

    The university’s Public and Alumni Relations Unit Head, Lekan Fadeyi, in a statement, said Adeyemi observed that the meeting would sustain mutual confidence between the owner-states.

    The retiring don was of the view that the avenue could be used to iron out thorny issues, with members reporting to their principals as a way of entrenching unity of purpose.

    He said: “LAUTECH may have had its fair share of crisis, but the University has maintained its leadership among its peers. If you ask me, the future is brighter and I have strong hope and belief that we shall overcome.”

    Adeyemi, who is the immediate past Bells University of Technology, Otta, Ogun State Vice-Chancellor and the Polytechnic Ibadan Governing Council Chairman observed the need for unbroken synergy between government, parents, lecturers, non-teaching staff and students in promoting greater understanding of any institution’s vision and mission.

    LAUTECH Vice-Chancellor Prof Adeniyi Gbadegesin thanked the retiring don for his immeasurable contributions to LAUTECH, assuring him that posterity was on his side whenever the institution’s history is written.

     

  • Students proffer solution to Nigeria’s problems

    Postgraduate students of Diplomacy and Strategic Studies, in conjunction with Department of History and Strategic Studies, University of Lagos (UNILAG), penultimate Saturday organised a lecture to proffer solution to problems facing the country.

    The symposium, tagged: “On Contemporary Africa’s Political and Developmental Challenges” was organised by ”Think Thank” group 2017/2018 Master’s students of Diplomacy and Strategic Studies at the Faculty of Arts Boardroom, UNILAG.

    The keynote speaker, Prof Bolaji Akinyemi, said he could not find a road map towards an autonomous African political system.

    He said: It is not that one does not know what a genuine African political system will look like. One does not reinvent the wheel. It will have to be based on genuine, free and transparent elections, free from external interference. The unanswered issue is how one gets there. The major player is the world system which finds the natural resources of Africa too precious to be left for Africa to manage.”

    Akinyemi decried the influence of godfatherism in politics, describing it as hindrance to development and why youth leaders had failed to implement classroom knowledge to solve issues.

    He lamented that Nigeria is behind many countries, adding that it takes a genuine visionary leader with great developmental programmes to develop the country.

    “Free and fair elections, have genuine leaders with developmental programmes of where we want to grow, they all know this, but how do we get there that is what I don’t know.

  • Distance education solution to admission gridlock

    SIR: I often empathise with young brilliant candidates who miss university admission every year for reasons which are unconnected to their intellectual capabilities. The seeming university admission gridlock which the tertiary education sector is saddled with may seem like an undesirable development. But, it could be more of a blessing than a predicament. We cannot merely continue to decry this situation without exploring viable alternatives. There is a paradigm shift on the international educational terrain with Open and Distance Education (ODE) at the forefront of this shift. Despite its overwhelming deployment in the global terrain, it’s unfortunate that ODE does not seem to have gained considerable acceptance in Nigeria. Average Nigerian parents impenitently desire to have their wards gain admission into the four walls of the university. Howbeit, these desires are frustrated year-in-year-out as admission quota, especially in public universities reduces, thus dashing their hopes.

    The solution is apparent: a wide acceptance and massive subscription to ODL. This offers education without borders and it cuts across different ages and social strata. The driving tool is Information and Communication Technology (ICT). The University of Ibadan Distance Learning Centre (UIDLC) in a bid to bridge this gap and advance ODL advocacy has organised an International Stakeholders’ Conference. This would feature academic paper preparations and robust discussions. Gathering ODL experts and stakeholders to discuss ODE so as to advocate for more acceptance and facilitate an all-encompassing acceptance across the nation is needed at this time. The conference has been put together to herald the centre’s thirtieth anniversary.

    The present reality would be appraised with a purposeful projection into the future of Open and Distance Education in Nigeria. With cognizance to historical antecedents and as the UIDLC registers remarkable feats, it is expedient to call ODL practitioners to discuss quality assurance and management, emerging opportunities in ODL, new approaches and how to leverage on national and international collaborations for the advancement of ODE in Nigeria. It is also important to note that students ought to be welcome on round-table discussions with stakeholders. This would lay credence to the fact that this mode of educational delivery is designed to be learner oriented. It is high time we discussed local challenges in a bid to proffer practical solutions that would engender effective service delivery of ODL. In this light, Nigeria would be steps closer to overcoming the problem of assess in the pursuit of university education.

     

    • Dayo Olajide,

    olajide.oladayo@dlc.ui.edu.ng

  • CBN grants payment solution service approval to Cellulant

    CBN grants payment solution service approval to Cellulant

    The Central Bank of Nigeria (CBN) has issued an approval in principle to Cellulant Nigeria Limited to operate as a Payment Solution Service Provider in Nigeria having satisfied the stringent requirements of the CBN.

    This approval makes Cellulant one of the Payment Solution Service Providers (PSSP) in Nigeria. PSSPs are the companies that make up the underlying e-Payment infrastructure in Nigeria. Banks, Online Merchants, payment processors, merchants, state-governments and consumers connect to PSSPs to meet their electronic payment needs.

    Cellulant is the provider of the Tingg Payment Service & AgriKore Customer Relationship Management (CRM) service that is used by Governments, private sector companies, farmers, merchants in Nigeria & the rest of Africa, Asia to ensure end to end electronic payments in Agriculture and other consumer facing value chains.

    Cellulant’s payment solution is underpinned by highest global security standards. The solution is ISO/IEC 27001& PCIDSS certified and all records are backed up on a blockchain ledger which ensures that accounts cannot be hacked, and records cannot be changed.

    The co-founder and Chief Executive Officer of Cellulant Nigeria, Bolaji Akinboro, stated that this approval will enable the company to extend its payment solutions across all spectrum of Nigeria’s payment system ecosystem.

    According to him, ‘‘Cellulant is a critical component of Nigeria Payments system and a key player in delivering the payments systems vision 2020”.

  • Don proffers solution on saving Lake Chad

    Academic and environmental expert Prof. Haruna Ayuba has proposed evaporation suppression as alternative technique to save Lake Chad from extinction.

    Ayuba, who teaches at the Nasarawa State University, Keffi (NSUK), spoke in an interview with News Agency of Nigeria (NAN) in Abuja.

    He said water transfer was the first option in restoring the lake, adding that this will require the movement of water from another river.

    ‘‘Suppressing evaporation can also help in the restoration of Lake Chad. We live in the tropics and we receive much water from rainfall.

    ‘‘The water disappears through evaporation; we can suppress the evaporation which is the amount of moisture that goes up into the atmosphere.

    ‘‘Part of the reasons for the drying up of Lake Chad is the high rate of evaporation of water,” he opined.

    The don said stakeholders should create more awareness on measures to save the lake.

    ‘‘Climate change is a developmental issue, every hand must be on deck.

    ‘‘We need to build capacity, tell people the signs of climate change, because some people don’t understand that.

    ‘‘We need all the experts, stakeholders to develop a policy framework that people need to follow,” he said.

    Similarly, he said with proper use of science and technology, scientists can reduce challenges of restoring the shrinking lake.

    According to him, development of science and technology in Nigeria is still laid-back, adding that the country lacks a strategic plan to build the sector.

    He decried the lack of equipment for science-related courses in tertiary institutions.

    Ayuba noted that polytechnics, which were established to drive the sector, have been allegedly disregarded.

    ‘‘We have also killed our polytechnics; the polytechnics are supposed to help in building the technical manpower in the country.

    ‘‘Now, the emphasis is on paper qualification, even those who graduate from polytechnics are coming to take degrees all over again,” he said.

    He said the nation should  emphasise practical application of acquired knowledge and discourage paper qualification.

    NAN reports that Lake Chad Basin has shrunk to 2,500 square kilometres in 2000 from its 1960s’ size of 25,000.

     

  • Ngige seeks lasting solution to unemployment

    Ngige seeks lasting solution to unemployment

    Minister of Labour and Employment, Dr. Chris Ngige has called for measures to curb rising unemployment.

    Job creation policies and programmes, he said, must anticipate future labour market requirements rather than reacting to them.

    Ngige, who spoke  while inaugurating the National Employment Council and unveiling the revised National Employment Policy in Abuja, said: “In co-ordinating implementation of strategies to fast-track employment creation, we must bear in mind that such strategies are most likely to be successful, if they anticipate future labour market requirement rather than reacting to them.

    He said Nigeria had to move away from past approaches where strategies for employment creation and poverty alleviation were done in response to crises, or as temporary measures to mitigate the impact.

    Ngige said unemployment is a global challenge, adding that Nigeria, like other nations, needs to take proactive measures towards curbing the menace, stressing that the concern is even more urgent due to the link between youth idleness and perennial violent crimes in the different parts of the country, which pose threat to socio-economic stability.

    Ngige said the task before the council was formidable. He expressed confidence in the council’s ability to come up with the solution that will, in the medium and long-term, reverse the alarming trend of unemployment.

    “The task before this council is formidable. However, with the calibre of members of this council, which is made up of renowned experts, practitioners and policymakers in development and employment promotion, I have no doubt in my mind that you have what it takes to proffer solutions that will, ultimately, halt and in the medium and long-term reverse the current unemployment situation in the country,” the minister said.

    The Ministry’s Permanent Secretary, Bolaji Adebiyi, said  unemployment and poverty are critical challenges that  require  concerted efforts of all stakeholders to address.

    Adebiyi emphasised that it was in a bid to address the unemployment crisis that the National Employment Policy was formulated with the aim of consolidating into an integrated and coherent document, a beacon for attaining full employment for Nigerians, particularly the youth.

  • Urhobo leader proffers solution to herdsmen’s crisis

    Urhobo leader proffers solution to herdsmen’s crisis

    The President-General of the Urhobo Progress Union (UPU), Olorogun Moses Taiga, has called on the Federal Government to arrest deforestation in the North.

    He said this is the solution to herdsmen/farmers crisis.

    Speaking at a conference yesterday in Lagos, Taiga said efforts should be made to plant trees in the North, noting that this would keep the herdsmen in their traditional homes.

    He said Urhobo land had been devastated by the movement of herdsmen, stressing that there was hunger because of the destruction of their farmlands.

    The Urhobo leader said over 300 herdsmen were illegally occupying shops at the ultra- modern market in Urhobo land, adding that the number might increase soon.

    He said President Muhammadu Buhari should dislodge those occupying the market before they wreaked havoc.

    Taiga said: “Urhobo are peace loving people and whatever it takes to maintain the existing peace should be explored. What happened in Benue where 73 were killed must not happen in Urhobo land.

    “I want to take this opportunity to inform the Federal Government that the Urhobo nation will not cede an inch of its land for the proposed cattle colony.

    “Cattle rearing is a private matter and individuals should make their private arrangement, just as crop farmers do in that regard. Has the government established cassava, yam, cocoa or plantain colonies?

    “These squatters and trespassers have to stop. Also, no colonies have been established for poultry farmers. Why the special arrangement for cattle rearers?”

    He urged Delta State Governor Ifeanyi Okowa to protect Urhobo people and other indigenes.