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STEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria. CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ONSTEARSNG.COM
NIGERIA'S CYBERSECURITY PROBLEM It turns out that Nigeria is one of the world's most vulnerable countries to cyber attacks - 16th worst in the world in 2016, an improvement from 2nd the year before. In 2018 alone, about 60% of Nigerian firms suffered an attack, and we spent about $270 million on cybersecurity. So Nigerian firms are being attacked, but no one isreporting what
THE STATE OF NIGERIA'S FASHION INDUSTRY The global fashion industry is worth over $2.5 trillion, with Africa’s share estimated at less than 1% of that total. Meanwhile, Euromonitor suggests that the Sub-Saharan fashion market is worth $31 billion, with Nigeria accounting for 15% of that ($4.7 billion). WHY NIGERIA NEEDS RENEWABLE ENERGY Renewable energy. Image source: Nigeria electricity hub. Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector gives us thatgrowth.
EFCC AND THE PROBLEMS WE KNOW EFCC and The Problems We Know. Ibrahim Magu remains the Acting Chairman of the Economic and Financial Crimes Commission, despite his rejection by the Nigerian Senate. Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. THE PROBLEM WITH PORTS IN NIGERIA The problem with ports in Nigeria. For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar NIGERIA'S ETHNIC DIVERSITY CAN HARM ECONOMIC GROWTH Africa has some of the most ethnically diverse societies in the world. The number of ethnic groups within a country can range from a few in countries like Burundi and Rwanda to more than 250 in Nigeria and the Democratic Republic of Congo. But, what is often viewed as a rich cultural heritage, has often been a source of conflict and a deterrentto development.
IMU-AHIA: THE APPRENTICESHIP SYSTEM BUILDING WEALTH IN In Eastern Nigeria, young men like Onyebuchi are called Imu-Ahia, referring to an Igbo apprenticeship system which gained prominence in the Eastern region after the Civil War of 1967. By the end of the War in 1970, the region was so devastated that money and human capital were scarce. Thousands of people were unable to return to homes they THE PROBLEM WITH PENSIONS IN NIGERIA The problem with pensions in Nigeria. Nigerian workers are not preparing for retirement. Of the 69 million people in the labour force, just 7 million have pension accounts. In the United States, more than half of the working age population have some form of retirement plan, and that number is over 70% in the United Kingdom.STEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria. CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ONSTEARSNG.COM
NIGERIA'S CYBERSECURITY PROBLEM It turns out that Nigeria is one of the world's most vulnerable countries to cyber attacks - 16th worst in the world in 2016, an improvement from 2nd the year before. In 2018 alone, about 60% of Nigerian firms suffered an attack, and we spent about $270 million on cybersecurity. So Nigerian firms are being attacked, but no one isreporting what
THE STATE OF NIGERIA'S FASHION INDUSTRY The global fashion industry is worth over $2.5 trillion, with Africa’s share estimated at less than 1% of that total. Meanwhile, Euromonitor suggests that the Sub-Saharan fashion market is worth $31 billion, with Nigeria accounting for 15% of that ($4.7 billion). WHY NIGERIA NEEDS RENEWABLE ENERGY Renewable energy. Image source: Nigeria electricity hub. Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector gives us thatgrowth.
EFCC AND THE PROBLEMS WE KNOW EFCC and The Problems We Know. Ibrahim Magu remains the Acting Chairman of the Economic and Financial Crimes Commission, despite his rejection by the Nigerian Senate. Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. THE PROBLEM WITH PORTS IN NIGERIA The problem with ports in Nigeria. For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar NIGERIA'S ETHNIC DIVERSITY CAN HARM ECONOMIC GROWTH Africa has some of the most ethnically diverse societies in the world. The number of ethnic groups within a country can range from a few in countries like Burundi and Rwanda to more than 250 in Nigeria and the Democratic Republic of Congo. But, what is often viewed as a rich cultural heritage, has often been a source of conflict and a deterrentto development.
IMU-AHIA: THE APPRENTICESHIP SYSTEM BUILDING WEALTH IN In Eastern Nigeria, young men like Onyebuchi are called Imu-Ahia, referring to an Igbo apprenticeship system which gained prominence in the Eastern region after the Civil War of 1967. By the end of the War in 1970, the region was so devastated that money and human capital were scarce. Thousands of people were unable to return to homes they THE PROBLEM WITH PENSIONS IN NIGERIA The problem with pensions in Nigeria. Nigerian workers are not preparing for retirement. Of the 69 million people in the labour force, just 7 million have pension accounts. In the United States, more than half of the working age population have some form of retirement plan, and that number is over 70% in the United Kingdom. SIGN IN - STEARS PREMIUM Learn something new today Join Nigeria’s most educated, well-read business leaders who rely on us for insight into their industries, markets and societies. WHAT CENSORSHIPS IN OTHER COUNTRIES TELL NIGERIANS ABOUT Iraq. Yemen. Venezuela. Myanmar. Zimbabwe. Cameroon. Russia. Ethiopia. Togo. Here is a growing list of countries with governments that haveshut
CAR INSURANCE: HOW TO HANDLE YOUR NEXT ACCIDENT IN NIGERIA premium 10 JUNE 2021 Car insurance: How to handle your next accident in Nigeria. A look into car insurance policies and why many Nigerians don't use them. Gbemisola Alonge NIGERIA’S “UBER FOR SHIPS” PIVOTS, BETS ON INTERNATIONAL Approximately two years ago, the African technology industry witnessed the birth of a maritime tech startup. It was a rare sight. Fintechs dominate the Nigerian startup space, and more recently, “Healthtech” and “Edtech” companies are springing up. WHAT ARE THE BIGGEST PROBLEMS WITH NIGERIA'S BANKING A sound financial system is critical to economic growth for any country, and a healthy banking system is a key component of this. Economic research shows that a well-functioning banking system helps accelerate economic growth and poverty alleviation, while poorly-functioning banks can impede economic progress.. During the last global recession in 2008, the banking system was the SIGN UP - STEARS PREMIUM The ultimate source of business analysis, insight and data on Nigeria SUBSCRIPTION CHECKOUT Team Subscriptions Teams of more than 4 members can get discounted access to our data-driven insight, market and industry reports that empower them to understand how their businesses fit into the Nigerianeconomy.
WHY IS FREE SPEECH SUPPRESSED DESPITE THE LAW? Two weeks ago, and well before the suspension of Twitter, I wrote on the continuous decline of internet freedom in Nigeria. Admittedly, this was not simply by chance. It was on our radar because of the months of research that our sister team—Stears Data—had undertaken with Luminate, to map the data and digital rights space in Nigeria. REQUEST PASSWORD RESET Reset Password. Email Address. Continue EMBRACING TECHNOLOGY IN NIGERIA Sometimes considered the cradle of technology innovation in Africa, Nairobi is home to iHub, one of the continent's largest technology hubs, boasting of the likes of mobile payment giant M-pesa. Nigeria has technology hubs as well, none more famous than "Yaba-con Valley". By and large, these have succeeded independently of government policyand
STEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria. NIGERIA'S CYBERSECURITY PROBLEM It turns out that Nigeria is one of the world's most vulnerable countries to cyber attacks - 16th worst in the world in 2016, an improvement from 2nd the year before. In 2018 alone, about 60% of Nigerian firms suffered an attack, and we spent about $270 million on cybersecurity. So Nigerian firms are being attacked, but no one isreporting what
CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ONSTEARSNG.COM
WHY NIGERIA NEEDS RENEWABLE ENERGY Renewable energy. Image source: Nigeria electricity hub. Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector gives us thatgrowth.
EFCC AND THE PROBLEMS WE KNOW EFCC and The Problems We Know. Ibrahim Magu remains the Acting Chairman of the Economic and Financial Crimes Commission, despite his rejection by the Nigerian Senate. Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. THE STATE OF NIGERIA'S FASHION INDUSTRY The global fashion industry is worth over $2.5 trillion, with Africa’s share estimated at less than 1% of that total. Meanwhile, Euromonitor suggests that the Sub-Saharan fashion market is worth $31 billion, with Nigeria accounting for 15% of that ($4.7 billion). NIGERIA'S ETHNIC DIVERSITY CAN HARM ECONOMIC GROWTH Africa has some of the most ethnically diverse societies in the world. The number of ethnic groups within a country can range from a few in countries like Burundi and Rwanda to more than 250 in Nigeria and the Democratic Republic of Congo. But, what is often viewed as a rich cultural heritage, has often been a source of conflict and a deterrentto development.
THE PROBLEM WITH PORTS IN NIGERIA The problem with ports in Nigeria. For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar THE NIGERIAN PRINCIPLE OF FEDERAL CHARACTER GOVERNANCE - 14 AUG 2017. The Nigerian Principle of Federal Character The Federal Government continues to tackle ethnic tensions across the country, particularly over the past few months IMU-AHIA: THE APPRENTICESHIP SYSTEM BUILDING WEALTH IN In Eastern Nigeria, young men like Onyebuchi are called Imu-Ahia, referring to an Igbo apprenticeship system which gained prominence in the Eastern region after the Civil War of 1967. By the end of the War in 1970, the region was so devastated that money and human capital were scarce. Thousands of people were unable to return to homes theySTEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria. NIGERIA'S CYBERSECURITY PROBLEM It turns out that Nigeria is one of the world's most vulnerable countries to cyber attacks - 16th worst in the world in 2016, an improvement from 2nd the year before. In 2018 alone, about 60% of Nigerian firms suffered an attack, and we spent about $270 million on cybersecurity. So Nigerian firms are being attacked, but no one isreporting what
CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ONSTEARSNG.COM
WHY NIGERIA NEEDS RENEWABLE ENERGY Renewable energy. Image source: Nigeria electricity hub. Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector gives us thatgrowth.
EFCC AND THE PROBLEMS WE KNOW EFCC and The Problems We Know. Ibrahim Magu remains the Acting Chairman of the Economic and Financial Crimes Commission, despite his rejection by the Nigerian Senate. Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. THE STATE OF NIGERIA'S FASHION INDUSTRY The global fashion industry is worth over $2.5 trillion, with Africa’s share estimated at less than 1% of that total. Meanwhile, Euromonitor suggests that the Sub-Saharan fashion market is worth $31 billion, with Nigeria accounting for 15% of that ($4.7 billion). NIGERIA'S ETHNIC DIVERSITY CAN HARM ECONOMIC GROWTH Africa has some of the most ethnically diverse societies in the world. The number of ethnic groups within a country can range from a few in countries like Burundi and Rwanda to more than 250 in Nigeria and the Democratic Republic of Congo. But, what is often viewed as a rich cultural heritage, has often been a source of conflict and a deterrentto development.
THE PROBLEM WITH PORTS IN NIGERIA The problem with ports in Nigeria. For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar THE NIGERIAN PRINCIPLE OF FEDERAL CHARACTER GOVERNANCE - 14 AUG 2017. The Nigerian Principle of Federal Character The Federal Government continues to tackle ethnic tensions across the country, particularly over the past few months IMU-AHIA: THE APPRENTICESHIP SYSTEM BUILDING WEALTH IN In Eastern Nigeria, young men like Onyebuchi are called Imu-Ahia, referring to an Igbo apprenticeship system which gained prominence in the Eastern region after the Civil War of 1967. By the end of the War in 1970, the region was so devastated that money and human capital were scarce. Thousands of people were unable to return to homes they SIGN IN - STEARS PREMIUM Learn something new today Join Nigeria’s most educated, well-read business leaders who rely on us for insight into their industries, markets and societies. GDP 2020: NIGERIA'S SHOCKING RECESSION EXIT The second-largest sector, domestic trade—which covers all forms of retail and wholesale trade within the country, and makes up 14% of total GDP recorded a -9% growth in 2020, from -0.38% in 2019. This was partly because of the lockdown and low income of consumers which led to a 17% and 12% decline in Q2 and Q3 respectively. WE LIVE IN A SUCCESSFUL FAILED STATE Every morning since the 20th of October 2020, Nigerian millennials have woken up to the reality that we are citizens of a failed state. Let's make no mistake about it, last week's foray into internet censorship was on-brand with the embarrassing actions taken CAR INSURANCE: HOW TO HANDLE YOUR NEXT ACCIDENT IN NIGERIA premium 10 JUNE 2021 Car insurance: How to handle your next accident in Nigeria. A look into car insurance policies and why many Nigerians don't use them. Gbemisola Alonge SIGN UP - STEARS PREMIUM The ultimate source of business analysis, insight and data on Nigeria WHAT CENSORSHIPS IN OTHER COUNTRIES TELL NIGERIANS ABOUT Iraq. Yemen. Venezuela. Myanmar. Zimbabwe. Cameroon. Russia. Ethiopia. Togo. Here is a growing list of countries with governments that haveshut
COMPLY OR EXPLAIN?
Comply or explain is an approach that recognises alternatives to its aims, by assuming the existence of business norms which drive and encourage companies or businesses to prioritise the interests of stakeholders, and justify their choices to depart from the business norm. If it is to work, the market must trust companies to showcommitment to
WHY IS FREE SPEECH SUPPRESSED DESPITE THE LAW? Two weeks ago, and well before the suspension of Twitter, I wrote on the continuous decline of internet freedom in Nigeria. Admittedly, this was not simply by chance. It was on our radar because of the months of research that our sister team—Stears Data—had undertaken with Luminate, to map the data and digital rights space in Nigeria. REQUEST PASSWORD RESET Reset Password. Email Address. Continue THE NIGERIAN ECONOMY REVOLVES AROUND LAGOS PORTS Lagos’ output was $137 billion in 2017, more than a third of Nigeria’s gross domestic product (GDP). As a country, it would be one of the ten largest economies in Africa— bigger than Kenya. Moreover, 75% of Nigeria’s imports passed through Lagos ports in 2017, and 99% of Nigeria’s trade is by sea. Apart from shippingactivity, the
STEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria.CAREERS AT STEARS
Company Overview. Stears is a fast-growing, technology startup dedicated to solving the information gap in Africa. We are looking for curious problem-solvers interested in changing the way we understand markets & consumers in Africa. CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ONSTEARSNG.COM
THE STATE OF NIGERIA'S FASHION INDUSTRY Conversations about Nigeria’s fashion industry tend to focus on the luxury and mid-market segments, ignoring thousands of value brands that represent a large volume of the industry. NIGERIA'S ETHNIC DIVERSITY CAN HARM ECONOMIC GROWTH Africa has some of the most ethnically diverse societies in the world. The number of ethnic groups within a country can range from a few in countries like Burundi and Rwanda to more than 250 in Nigeria and the Democratic Republic of Congo. But, what is often viewed as a rich cultural heritage, has often been a source of conflict and a deterrentto development.
WHY NIGERIA NEEDS RENEWABLE ENERGY Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector givesus that growth.
THE PROBLEM WITH PORTS IN NIGERIA For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar Port. EFCC AND THE PROBLEMS WE KNOW Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. It is not far-fetched to say that President Buhari was elected specifically to address the issue, just as he took power in 1983 under the pretext of ensuringdiscipline.
THE NIGERIAN PRINCIPLE OF FEDERAL CHARACTER GOVERNANCE - 14 AUG 2017. The Nigerian Principle of Federal Character The Federal Government continues to tackle ethnic tensions across the country, particularly over the past few months THE DILEMMA OF INFORMAL SETTLEMENTS IN NIGERIASTEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria.CAREERS AT STEARS
Company Overview. Stears is a fast-growing, technology startup dedicated to solving the information gap in Africa. We are looking for curious problem-solvers interested in changing the way we understand markets & consumers in Africa. CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ONSTEARSNG.COM
THE STATE OF NIGERIA'S FASHION INDUSTRY Conversations about Nigeria’s fashion industry tend to focus on the luxury and mid-market segments, ignoring thousands of value brands that represent a large volume of the industry. NIGERIA'S ETHNIC DIVERSITY CAN HARM ECONOMIC GROWTH Africa has some of the most ethnically diverse societies in the world. The number of ethnic groups within a country can range from a few in countries like Burundi and Rwanda to more than 250 in Nigeria and the Democratic Republic of Congo. But, what is often viewed as a rich cultural heritage, has often been a source of conflict and a deterrentto development.
WHY NIGERIA NEEDS RENEWABLE ENERGY Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector givesus that growth.
THE PROBLEM WITH PORTS IN NIGERIA For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar Port. EFCC AND THE PROBLEMS WE KNOW Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. It is not far-fetched to say that President Buhari was elected specifically to address the issue, just as he took power in 1983 under the pretext of ensuringdiscipline.
THE NIGERIAN PRINCIPLE OF FEDERAL CHARACTER GOVERNANCE - 14 AUG 2017. The Nigerian Principle of Federal Character The Federal Government continues to tackle ethnic tensions across the country, particularly over the past few months THE DILEMMA OF INFORMAL SETTLEMENTS IN NIGERIA SIGN IN - STEARS PREMIUM Learn something new today Join Nigeria’s most educated, well-read business leaders who rely on us for insight into their industries, markets and societies. GDP 2020: NIGERIA'S SHOCKING RECESSION EXIT The National Bureau of Statistics (NBS) released the GDP report for the fourth quarter (Q4) of 2020 on Thursday and it is pleasantly surprising to see that Nigeria is out of its recession. WE LIVE IN A SUCCESSFUL FAILED STATE Every morning since the 20th of October 2020, Nigerian millennials have woken up to the reality that we are citizens of a failed state. Let's make no mistake about it, last week's foray into internet censorship was on-brand with the embarrassing actions taken WHAT CENSORSHIPS IN OTHER COUNTRIES TELL NIGERIANS ABOUT Iraq. Yemen. Venezuela. Myanmar. Zimbabwe. Cameroon. Russia. Ethiopia. Togo. Here is a growing list of countries with governments that haveshut
COMPLY OR EXPLAIN?
Countries around the world have had little reservations about adopting the well known ‘comply or explain’ approach to corporategovernance codes.
WHY IS FREE SPEECH SUPPRESSED DESPITE THE LAW? Two weeks ago, and well before the suspension of Twitter, I wrote on the continuous decline of internet freedom in Nigeria. Admittedly, this was not simply by chance. It was on our radar because of the months of research that our sister team—Stears Data—had undertaken with Luminate, to map the data and digital rights space in Nigeria. SIGN UP - STEARS PREMIUM The ultimate source of business analysis, insight and data on Nigeria WHAT ARE NIGERIANS SAYING ABOUT THE ECONOMY? It has almost become cliché to say that Nigeria's economy is in trouble. You hear it daily. In the second and third weeks of May,Bloomberg and The
UNDERSTANDING THE ALMAJIRI DEVELOPMENT - 30 MAY 2019. Understanding the Almajiri The Almajiri of Northern Nigeria continue to grow, unchecked by appropriate governmentintervention.
GROWING NIGERIA'S LEATHER INDUSTRY Leather products are present in almost every Nigerian home. The aesthetic appeal of shoes, bags, clothing, and other finished leather products (FLP) remains a desire forSTEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria. WHY NIGERIA NEEDS RENEWABLE ENERGY Renewable energy. Image source: Nigeria electricity hub. Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector gives us thatgrowth.
THE STATE OF NIGERIA'S FASHION INDUSTRY The global fashion industry is worth over $2.5 trillion, with Africa’s share estimated at less than 1% of that total. Meanwhile, Euromonitor suggests that the Sub-Saharan fashion market is worth $31 billion, with Nigeria accounting for 15% of that ($4.7 billion). THE PROBLEM WITH PORTS IN NIGERIA The problem with ports in Nigeria. For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar TRADITIONAL COOKING METHODS ARE PUTTING WOMEN AT RISK The costs of electric cookstoves widely ranges from $15–$50 for a single burner. That is between ₦6,000 and ₦19,000. Double burners and electric induction cookers could cost as high as $150 or ₦58,000. Considering Nigeria’s current electricity challenges, LPG cookstoves are the next best low-cost options. But they range from$25–$50
EFCC AND THE PROBLEMS WE KNOW EFCC and The Problems We Know. Ibrahim Magu remains the Acting Chairman of the Economic and Financial Crimes Commission, despite his rejection by the Nigerian Senate. Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ON STEARSNG.COMHEALTH CARE IN NIGERIAHEALTH IN NIGERIAHEALTH ISSUES IN NIGERIAHEALTH SYSTEMS IN NIGERIA FOUR CHARTS SHOWING NIGERIA'S UNEMPLOYMENT PROBLEMS We look at four charts that show which regions are most affected by unemployment. 1. Unemployment Rates by Geopolitical Zone. The South-East and South-South are conspicuously behind. Unemployment Rate by Geopolitical Zone – Nigeria’s national unemployment rate is 18.8% which means that nearly 1 in 5 aspiring workers do not haveformal jobs.
IMU-AHIA: THE APPRENTICESHIP SYSTEM BUILDING WEALTH IN In Eastern Nigeria, young men like Onyebuchi are called Imu-Ahia, referring to an Igbo apprenticeship system which gained prominence in the Eastern region after the Civil War of 1967. By the end of the War in 1970, the region was so devastated that money and human capital were scarce. Thousands of people were unable to return to homes they UNDERSTANDING THE ALMAJIRI A little walk through history. Almajiri, formally called Tsangaya, is a migratory system of Islamic education that emerged in the pre-colonial era from the Kanem-Borno town of Northern Nigeria. Almajiri was inspired by Prophet Muhammad’s migration from Mecca to Medina and is derived from the Arabic word Al-Muhajirun, which means aperson who
STEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria. WHY NIGERIA NEEDS RENEWABLE ENERGY Renewable energy. Image source: Nigeria electricity hub. Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector gives us thatgrowth.
THE STATE OF NIGERIA'S FASHION INDUSTRY The global fashion industry is worth over $2.5 trillion, with Africa’s share estimated at less than 1% of that total. Meanwhile, Euromonitor suggests that the Sub-Saharan fashion market is worth $31 billion, with Nigeria accounting for 15% of that ($4.7 billion). THE PROBLEM WITH PORTS IN NIGERIA The problem with ports in Nigeria. For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar TRADITIONAL COOKING METHODS ARE PUTTING WOMEN AT RISK The costs of electric cookstoves widely ranges from $15–$50 for a single burner. That is between ₦6,000 and ₦19,000. Double burners and electric induction cookers could cost as high as $150 or ₦58,000. Considering Nigeria’s current electricity challenges, LPG cookstoves are the next best low-cost options. But they range from$25–$50
EFCC AND THE PROBLEMS WE KNOW EFCC and The Problems We Know. Ibrahim Magu remains the Acting Chairman of the Economic and Financial Crimes Commission, despite his rejection by the Nigerian Senate. Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ON STEARSNG.COMHEALTH CARE IN NIGERIAHEALTH IN NIGERIAHEALTH ISSUES IN NIGERIAHEALTH SYSTEMS IN NIGERIA FOUR CHARTS SHOWING NIGERIA'S UNEMPLOYMENT PROBLEMS We look at four charts that show which regions are most affected by unemployment. 1. Unemployment Rates by Geopolitical Zone. The South-East and South-South are conspicuously behind. Unemployment Rate by Geopolitical Zone – Nigeria’s national unemployment rate is 18.8% which means that nearly 1 in 5 aspiring workers do not haveformal jobs.
IMU-AHIA: THE APPRENTICESHIP SYSTEM BUILDING WEALTH IN In Eastern Nigeria, young men like Onyebuchi are called Imu-Ahia, referring to an Igbo apprenticeship system which gained prominence in the Eastern region after the Civil War of 1967. By the end of the War in 1970, the region was so devastated that money and human capital were scarce. Thousands of people were unable to return to homes they UNDERSTANDING THE ALMAJIRI A little walk through history. Almajiri, formally called Tsangaya, is a migratory system of Islamic education that emerged in the pre-colonial era from the Kanem-Borno town of Northern Nigeria. Almajiri was inspired by Prophet Muhammad’s migration from Mecca to Medina and is derived from the Arabic word Al-Muhajirun, which means aperson who
WE LIVE IN A SUCCESSFUL FAILED STATE Every morning since the 20th of October 2020, Nigerian millennials have woken up to the reality that we are citizens of a failed state. Let's make no mistake about it, last week's foray into internet censorship was on-brand with the embarrassing actions taken SIGN IN - STEARS PREMIUM Learn something new today Join Nigeria’s most educated, well-read business leaders who rely on us for insight into their industries, markets and societies. WHY IS FREE SPEECH SUPPRESSED DESPITE THE LAW? Two weeks ago, and well before the suspension of Twitter, I wrote on the continuous decline of internet freedom in Nigeria. Admittedly, this was not simply by chance. It was on our radar because of the months of research that our sister team—Stears Data—had undertaken with Luminate, to map the data and digital rights space in Nigeria. WHAT ARE NIGERIANS SAYING ABOUT THE ECONOMY? It has almost become cliché to say that Nigeria's economy is in trouble. You hear it daily. In the second and third weeks of May,Bloomberg and The
HOW NIGERIA CAN MANAGE ITS RISING DEBT She holds a BA (First Class) in Economics. Earlier this year, in February, to be precise, Nigeria's Debt Management Office (DMO) put forward its new debt management strategy. Quite directly, the plan is to increase the government's debt threshold from 25% of GDP to 40%. With shortages in revenue and increased public spending, additional THE DYNAMICS OF FOREIGN INVESTMENT FLOWS IN NIGERIA In 2001, MTN spent $285 million in acquiring a GSM license that ushered it into Nigeria. Soon after, the entry of Etisalat (2008) and the acquisition of Zain by Bharti Airtel (2012) brought in more dollar-denominated funds that have led to the impressive growth of the Nigerian telecommunication sector.. Money that flows into the country in this manner is referred to as Foreign Direct NIGERIA'S CYBERSECURITY PROBLEM It turns out that Nigeria is one of the world's most vulnerable countries to cyber attacks - 16th worst in the world in 2016, an improvement from 2nd the year before. In 2018 alone, about 60% of Nigerian firms suffered an attack, and we spent about $270 million on cybersecurity. So Nigerian firms are being attacked, but no one isreporting what
GROWING NIGERIA'S LEATHER INDUSTRY Last year, the Nigeria Economic Summit Group (NESG) estimated that Nigeria's leather industry could generate over $1 billion in export earnings by 2025 - a 70% increase from today's figures. However, this could end up being another of many projected figures for Nigeria that have not come into fruition.Until deliberate measures are taken to UNDERSTANDING THE ALMAJIRI A little walk through history. Almajiri, formally called Tsangaya, is a migratory system of Islamic education that emerged in the pre-colonial era from the Kanem-Borno town of Northern Nigeria. Almajiri was inspired by Prophet Muhammad’s migration from Mecca to Medina and is derived from the Arabic word Al-Muhajirun, which means aperson who
EXPLAINER: HOW DOES ISLAMIC BANKING WORK? Explainer: How does Islamic banking work? Islamic banking or finance is any banking or financial activity that follows the principles of Shariah, a code of conduct that guides Muslims in economic, social and political matters. Islamic banks work like conventional banks, except they have to obey specific Islamic principles.STEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria. WHY NIGERIA NEEDS RENEWABLE ENERGY Renewable energy. Image source: Nigeria electricity hub. Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector gives us thatgrowth.
TRADITIONAL COOKING METHODS ARE PUTTING WOMEN AT RISK The costs of electric cookstoves widely ranges from $15–$50 for a single burner. That is between ₦6,000 and ₦19,000. Double burners and electric induction cookers could cost as high as $150 or ₦58,000. Considering Nigeria’s current electricity challenges, LPG cookstoves are the next best low-cost options. But they range from$25–$50
THE PROBLEM WITH PORTS IN NIGERIA The problem with ports in Nigeria. For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar THE STATE OF NIGERIA'S FASHION INDUSTRY The global fashion industry is worth over $2.5 trillion, with Africa’s share estimated at less than 1% of that total. Meanwhile, Euromonitor suggests that the Sub-Saharan fashion market is worth $31 billion, with Nigeria accounting for 15% of that ($4.7 billion). EFCC AND THE PROBLEMS WE KNOW EFCC and The Problems We Know. Ibrahim Magu remains the Acting Chairman of the Economic and Financial Crimes Commission, despite his rejection by the Nigerian Senate. Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ON STEARSNG.COMHEALTH CARE IN NIGERIAHEALTH IN NIGERIAHEALTH ISSUES IN NIGERIAHEALTH SYSTEMS IN NIGERIA FOUR CHARTS SHOWING NIGERIA'S UNEMPLOYMENT PROBLEMS We look at four charts that show which regions are most affected by unemployment. 1. Unemployment Rates by Geopolitical Zone. The South-East and South-South are conspicuously behind. Unemployment Rate by Geopolitical Zone – Nigeria’s national unemployment rate is 18.8% which means that nearly 1 in 5 aspiring workers do not haveformal jobs.
IMU-AHIA: THE APPRENTICESHIP SYSTEM BUILDING WEALTH IN In Eastern Nigeria, young men like Onyebuchi are called Imu-Ahia, referring to an Igbo apprenticeship system which gained prominence in the Eastern region after the Civil War of 1967. By the end of the War in 1970, the region was so devastated that money and human capital were scarce. Thousands of people were unable to return to homes theyTOBILOBA FADESERE
Tobiloba is passionate about developmental issues in Africa and how the continent can be transformed through viable public policyinitiatives.
STEARS BUSINESS
Stears Business provides insight and analysis which connects the dots in the Nigerian Economy, Politics and Business in Nigeria. WHY NIGERIA NEEDS RENEWABLE ENERGY Renewable energy. Image source: Nigeria electricity hub. Nigeria’s economy needs quick and stable growth over a few decades if it is to create jobs for its 21 million unemployed citizens and lift 87 million people out of extreme poverty. To achieve this growth, Nigeria will require a lot of energy, regardless of what sector gives us thatgrowth.
TRADITIONAL COOKING METHODS ARE PUTTING WOMEN AT RISK The costs of electric cookstoves widely ranges from $15–$50 for a single burner. That is between ₦6,000 and ₦19,000. Double burners and electric induction cookers could cost as high as $150 or ₦58,000. Considering Nigeria’s current electricity challenges, LPG cookstoves are the next best low-cost options. But they range from$25–$50
THE PROBLEM WITH PORTS IN NIGERIA The problem with ports in Nigeria. For a country trying to diversify its exports and foreign exchange earnings, Nigeria’s seaports are seriously deficient. According to the Nigerian Ports Authority (NPA), the country has six seaports: Apapa and Tin Can in Lagos, the Onne and Port-Harcourt ports in Rivers State, the Warri Port, and the Calabar THE STATE OF NIGERIA'S FASHION INDUSTRY The global fashion industry is worth over $2.5 trillion, with Africa’s share estimated at less than 1% of that total. Meanwhile, Euromonitor suggests that the Sub-Saharan fashion market is worth $31 billion, with Nigeria accounting for 15% of that ($4.7 billion). EFCC AND THE PROBLEMS WE KNOW EFCC and The Problems We Know. Ibrahim Magu remains the Acting Chairman of the Economic and Financial Crimes Commission, despite his rejection by the Nigerian Senate. Anti-corruption as a government agenda dates as far back as 1966. It has preoccupied every administration since then and remains the dominant theme of the current administration. CAN HEALTH TECH STARTUPS SOLVE NIGERIA'S HEALTH PROBLEMSSEE MORE ON STEARSNG.COMHEALTH CARE IN NIGERIAHEALTH IN NIGERIAHEALTH ISSUES IN NIGERIAHEALTH SYSTEMS IN NIGERIA FOUR CHARTS SHOWING NIGERIA'S UNEMPLOYMENT PROBLEMS We look at four charts that show which regions are most affected by unemployment. 1. Unemployment Rates by Geopolitical Zone. The South-East and South-South are conspicuously behind. Unemployment Rate by Geopolitical Zone – Nigeria’s national unemployment rate is 18.8% which means that nearly 1 in 5 aspiring workers do not haveformal jobs.
IMU-AHIA: THE APPRENTICESHIP SYSTEM BUILDING WEALTH IN In Eastern Nigeria, young men like Onyebuchi are called Imu-Ahia, referring to an Igbo apprenticeship system which gained prominence in the Eastern region after the Civil War of 1967. By the end of the War in 1970, the region was so devastated that money and human capital were scarce. Thousands of people were unable to return to homes theyTOBILOBA FADESERE
Tobiloba is passionate about developmental issues in Africa and how the continent can be transformed through viable public policyinitiatives.
WE LIVE IN A SUCCESSFUL FAILED STATE Every morning since the 20th of October 2020, Nigerian millennials have woken up to the reality that we are citizens of a failed state. Let's make no mistake about it, last week's foray into internet censorship was on-brand with the embarrassing actions taken PREMIUM - STEARS BUSINESS premium. 14 MAY 2021 There are no jobs in Nigeria. Nigeria is facing its worst official unemployment crisis in a half-century, and the numbers may not even capture how bad things really are. SIGN IN - STEARS PREMIUM Learn something new today Join Nigeria’s most educated, well-read business leaders who rely on us for insight into their industries, markets and societies. WHY IS THE NAIRA ALWAYS FALLING? “Back in my time, you could get $1 for ₦1.” If I had a dollar for every time I have heard that phrase, I would be a millionaire (in naira). You see, Nigerians, especially in the middle and upper class, are obsessed with the exchange rate. WHAT ARE NIGERIANS SAYING ABOUT THE ECONOMY? It has almost become cliché to say that Nigeria's economy is in trouble. You hear it daily. In the second and third weeks of May,Bloomberg and The
HOW NIGERIA CAN MANAGE ITS RISING DEBT She holds a BA (First Class) in Economics. Earlier this year, in February, to be precise, Nigeria's Debt Management Office (DMO) put forward its new debt management strategy. Quite directly, the plan is to increase the government's debt threshold from 25% of GDP to 40%. With shortages in revenue and increased public spending, additional NIGERIA'S CYBERSECURITY PROBLEM It turns out that Nigeria is one of the world's most vulnerable countries to cyber attacks - 16th worst in the world in 2016, an improvement from 2nd the year before. In 2018 alone, about 60% of Nigerian firms suffered an attack, and we spent about $270 million on cybersecurity. So Nigerian firms are being attacked, but no one isreporting what
THE DYNAMICS OF FOREIGN INVESTMENT FLOWS IN NIGERIA In 2001, MTN spent $285 million in acquiring a GSM license that ushered it into Nigeria. Soon after, the entry of Etisalat (2008) and the acquisition of Zain by Bharti Airtel (2012) brought in more dollar-denominated funds that have led to the impressive growth of the Nigerian telecommunication sector.. Money that flows into the country in this manner is referred to as Foreign Direct TRADITIONAL COOKING METHODS ARE PUTTING WOMEN AT RISK The costs of electric cookstoves widely ranges from $15–$50 for a single burner. That is between ₦6,000 and ₦19,000. Double burners and electric induction cookers could cost as high as $150 or ₦58,000. Considering Nigeria’s current electricity challenges, LPG cookstoves are the next best low-cost options. But they range from$25–$50
FOUR CHARTS SHOWING NIGERIA'S UNEMPLOYMENT PROBLEMS We look at four charts that show which regions are most affected by unemployment. 1. Unemployment Rates by Geopolitical Zone. The South-East and South-South are conspicuously behind. Unemployment Rate by Geopolitical Zone – Nigeria’s national unemployment rate is 18.8% which means that nearly 1 in 5 aspiring workers do not haveformal jobs.
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Economy Festus Okubor COVID-19 and Nigeria's oil future The coronavirus pandemic asks questions for global oil producers,including Nigeria
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