The Federal Government has launched a subsidised rice distribution initiative to mitigate the impact of recent economic policies under President Bola Tinubu in Abeokuta, Ogun State,
The Subsidised Rice programme, aimed at providing relief to citizens, is part of the government’s broader efforts to address rising food prices and economic challenges.
During the flag-off ceremony on Thursday, the Minister of Agriculture and Food Security, Abubakar Kyari, represented by Mrs. Toyin Ayo-Ajayi, the Ogun State Director of the Ministry, explained that the rice distribution was one of several initiatives designed to bring relief to Nigerians.
According to Kyari, the distribution is being closely monitored by federal agencies to ensure transparency, fairness, and security, with measures in place to guarantee that the rice reaches the intended beneficiaries.
“The government has made it simple for people to access the rice. With just a National Identification Number (NIN) and an Automated Teller Machine (ATM) card, individuals can purchase 50kg of rice for N40,000,” Kyari said.
He also lauded the efforts of Governor Dapo Abiodun, commending his leadership and commitment to the welfare of Ogun State’s citizens. Kyari noted that Ogun was one of the first states to benefit from the initiative, attributing this to the governor’s proactive and visionary approach.
“Ogun has one of the most organised distribution frameworks, ensuring that the rice reaches all three senatorial districts and the grassroots,” Kyari remarked.
In his response, Governor Dapo Abiodun praised President Tinubu for his commitment to addressing food inflation and improving the livelihoods of Nigerians.
He expressed gratitude for the Federal Government’s unwavering support for the agricultural sector and its efforts to ensure food security.
“This initiative is a testament to President Tinubu’s dedication to tackling food inflation head-on and improving the standard of living for our people. We appreciate his consistent support in bolstering the agricultural sector and promoting food security,” Abiodun said.
Commercial banks across Nigeria are facing public backlash following prolonged service disruptions caused by ongoing technology upgrades. These upgrades, intended to enhance banking systems, have resulted in untold hardships for customers, particularly in rural areas.
Sterling Bank was the first to implement its technology migration, switching from T24 to SEABaaS, a locally developed core banking application. The transition, which caused widespread system outages, left customers frustrated for days.
Zenith Bank also recently began upgrading its IT infrastructure, transitioning from Phoenix, a London-based Finastra software, to Oracle’s Flexcube. Although the bank described it as routine maintenance, the move led to extended service interruptions, affecting customers nationwide.
For over a week, Nigerians struggled to access their accounts, and delays in salary payments fueled customer dissatisfaction. A user on X (formerly Twitter), @CuteNaija, lamented the failure of salary payments, posting, “All my workers I paid with Zenith Bank have not received salaries 48/72 hours after.”
Frustrations spilled over into protests outside some Zenith Bank branches as customers demanded access to their funds.
In the midst of these challenges, more banks have announced plans to upgrade their systems. Guaranty Trust Bank (GTB) is scheduled to begin its transition to a new Finacle Core Banking Application on October 11, which will lead to an 11-hour shutdown of digital services starting October 13.
Similarly, Access Bank will upgrade its systems from October 12 to October 13, temporarily disrupting services on its app, internet banking, and ATMs, although some basic functions like card usage and USSD services will remain operational.
These upgrades are part of a broader effort by Nigerian banks to keep pace with the rising demand for digital banking and to strengthen cybersecurity. Data from the Nigeria Interbank Settlement System (NIBSS) reveals an 84.37% increase in cashless transactions, reaching N572.63 trillion between January and July 2024. However, this rise in digital payments has been accompanied by a sharp increase in fraud, with reported losses surging by 496.96% over the past five years.
In response, Nigerian banks have ramped up their technology investments. Six major banks increased their spending on technology and cybersecurity by 176.09%, spending N196.89 billion in the first half of 2024 compared to the same period in 2023. Despite these efforts, customers remain anxious about the impact of further system upgrades on their day-to-day banking activities.
As the banks push ahead with their digital transformations, Nigerians brace for more disruptions while hoping for long-term improvements in service delivery.
Aliko Dangote, Chairman and CEO of Dangote Refinery, meets with Grenada’s Prime Minister Dickson Mitchell to explore a potential trade agreement aimed at strengthening relations with Grenada and the Caribbean. The meeting occurs at the $20 billion petrochemical plant in Lagos, where Mitchell tours the refinery and fertilizer facilities.
He emphasizes that Mitchell serves not only as Grenada’s Prime Minister but also as Chairman of the Caribbean States. Their discussions center on a deal that could involve importing crude oil from the Caribbean and exporting refined petroleum products to the region. “We are considering buying crude from them and selling our petroleum products. We have a broad export network,” Dangote shares with reporters.
Prime Minister Mitchell praises the refinery as a major achievement for Nigeria and Africa, highlighting the advanced technology and skills of the young engineers at the facility. “This is an impressive accomplishment and a testament to Mr. Dangote’s vision for his country and for Africa,” he remarks.
Key Information
Dangote invested $20 billion in the refinery, which can process 650,000 barrels of oil daily. It has become the largest refinery in Africa and Europe, significantly reducing Nigeria’s dependence on imported petroleum products. Despite being Africa’s most populous nation and a leading oil producer, Nigeria relies heavily on fuel imports due to inadequate refining capacity—a gap that the refinery aims to address.
The Federal Government has launched an initiative to address the brain drain in Nigeria’s healthcare sector by tapping into the expertise of Nigerian health professionals abroad. The program, titled the “Nigerian Health Professionals in Diaspora Plus Engagement Programme,” was introduced by Dr. Tunji Alausa, Minister of State for Health and Social Welfare, during the Diaspora Stakeholders’ Forum in Abuja.
Dr. Alausa explained that the goal of the initiative is to leverage the knowledge, skills, and experience of Nigerian healthcare workers overseas to enhance healthcare services in the country. The program seeks to foster long-term collaboration between diaspora professionals and their counterparts in Nigeria.
“The ongoing emigration of our healthcare workforce has created significant obstacles to achieving Universal Health Coverage. However, this program presents an opportunity to transform brain drain into brain gain,” Alausa stated. He added that the initiative aligns with the government’s four-point Strategic Health Agenda, which focuses on improving healthcare governance, systems quality, value chain development, and health security.
Alausa called for support from the private sector and international partners to ensure the sustainability of the brain drain program. He also encouraged diaspora health professionals to invest in telemedicine, biomedical technology, and clinical research to address gaps in the nation’s healthcare delivery.
Dr. Ibrahim Wada, of NISA Premier Medical Group, emphasized the role of public-private partnerships (PPPs) in boosting the healthcare system. According to Wada, PPPs have played a significant role in healthcare development over the past 15 years, particularly in treating diseases like sickle cell anemia and expanding access to quality healthcare.
Wada also stressed the importance of community engagement and capacity building at the grassroots level. He noted that effective management, alongside modern equipment, is critical to providing seamless healthcare services for both professionals and patients.
He further suggested the establishment of specialized healthcare centers across the country, each focusing on specific medical specialties. This approach, Wada argued, would help reduce the strain on institutions and decrease the need for Nigerians to seek medical treatment abroad.
Dr. Pamela Ajayi, President of the Healthcare Federation of Nigeria (HFN), highlighted Nigeria’s potential to become a regional hub for medical treatment in West Africa. Ajayi called for greater investment in medical infrastructure, including the creation of healthcare banks to fund development projects. She also pointed to the transformative potential of digital platforms and artificial intelligence (AI) to extend healthcare services to rural areas.
Ajayi emphasized that the involvement of Nigerian healthcare professionals abroad is crucial for advancing research, innovation, and infrastructure development in the sector.
Prof. Bala Audu, President of the Nigerian Medical Association (NMA), stressed the importance of international collaboration and training to retain skilled healthcare workers and improve health outcomes. Audu noted that partnerships with countries like the UK could help Nigeria strengthen its healthcare system while benefiting from shared opportunities.
Dr. Emilia Iwu, of the National Association of Nigerian Nurses in North Carolina, underscored the need for balanced investment across all levels of healthcare, particularly in primary healthcare. According to Iwu, strengthening primary health centers, which are the most accessible healthcare option for many Nigerians, would ensure timely and accurate interventions.
Iwu added that while building teaching and general hospitals is important, equal focus should be given to primary healthcare facilities to create a comprehensive system that meets the needs of all Nigerians.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to halt operations across the country due to the escalating cost of Premium Motor Spirit (PMS), commonly known as petrol, sold by the Nigerian National Petroleum Company Limited (NNPC) to its members.
According to IPMAN, the price at which NNPC acquires petrol from Dangote Petroleum Refinery stands at N898 per litre, but NNPC resells the same product to independent marketers at N1,010 per litre in Lagos, N1,045 in Calabar, N1,050 in Port Harcourt, and N1,040 in Warri.
IPMAN, which operates over 70% of filling stations nationwide, has condemned this price disparity and is demanding a refund for prior payments made to NNPC.
Speaking to reporters, IPMAN’s National Publicity Secretary, Chinedu Ukadike, expressed frustration over the lack of response from NNPC and the company’s failure to return funds owed to independent marketers. “We may be forced to down tools if this issue is not resolved soon,” he said.
IPMAN’s President, Abubakar Maigandi, disclosed that marketers are owed approximately N15 billion by NNPC and have been sidelined in the petrol supply chain, as NNPC continues to monopolise the distribution through Dangote refinery.
‘’The association is pushing for the right to purchase fuel directly from Dangote, which would allow them to sell at a lower price of N970 per litre, below NNPC’s current rate.’’
This standoff follows NNPC’s recent hike in fuel prices to N1,030 per litre in Abuja and N998 per litre in Lagos, an increase of nearly 15% within a month, and a 430% rise since May 2023, when the current administration took office.
The Nigeria Labour Congress and the Organised Private Sector have called for an immediate reversal of these hikes, citing concerns over the negative impact on the economy.
As NNPC remains silent on the issue, the Major Energies Marketers Association of Nigeria (MEMAN) maintains a more favourable relationship with the oil company, benefiting from storage facilities and subsidised fuel supplies. However, experts warn that the rising costs could cripple small businesses, push more Nigerians into poverty, and trigger further inflation.
The situation outlined Nigeria’s broader economic challenges, with industry analysts calling for the government to prioritise alternative energy sources, such as compressed natural gas (CNG), and subsidise the transition for businesses and consumers alike.
Multichoice Group, the leading Pay-TV operator, has rebranded its SuperSport variety channels on both DStv and GOtv platforms to enhance the sports viewing experience for its customers.
The revamp, which took effect on Wednesday, October 9, 2024, introduces new channels and repositions existing ones to provide broader sports coverage.
In a statement on Thursday, MultiChoice West Africa’s Executive Head of Marketing, Tope Oshunkeye, outlined the changes and explained that the rebranding reflects the company’s ongoing commitment to offering world-class sports content tailored to African audiences.
As part of the update, SuperSport Select Channel has been renamed SuperSport Africa. A new channel, SuperSport Action, has also been introduced, offering an expanded selection of sports, including UFC matches and additional UEFA Champions League games.
For GOtv subscribers, the rebranding brings changes across various packages:
On GOtv Jinja and GOtv Jolli, SuperSport Africa will replace Select 2 (Channel 64).
GOtv Max subscribers will see SuperSport Africa and SuperSport Africa 2 replace Select 1 and Select 2 (Channels 63 and 64).
On GOtv Supa and SupaPlus, SuperSport Action will replace Select 3 (Channel 69).
Explaining the motivation behind the update, Oshunkeye said, “The channel revamp is part of our ongoing efforts to enhance our sports offering and provide customers with more unbeatable sports content that resonates with them.”
He highlighted that the new channels will feature a wide range of exciting sports action, including local boxing events, UFC fights, comprehensive sports analysis, and other exclusive content designed for African viewers.
“We remain dedicated to delivering the best sporting action to our customers and continuously exploring ways to delight them with more choices, exciting live content, and great value,” Oshunkeye added.
How to Access the New Channels
Subscribers are encouraged to subscribe, reconnect, or upgrade their packages through the MyGOtv app or by dialing *288#. They can also enjoy live sports on the move via the GOtv Stream app.
With these changes, MultiChoice reaffirms its leadership in sports broadcasting, offering a richer and more diverse sports entertainment experience to its viewers across Africa.
The Lagos Metropolitan Area Transport Authority (LAMATA) starts compensating residents in Ojuelegba impacted by the 8.7-kilometer Quality Bus Corridor (QBC) project, which connects Yaba to Cele, on October 10, 2024.
This initiative, funded by the Agence Française de Développement (AfD) and the Lagos State Government, aims to enhance public transportation in Lagos by improving bus facilities and boosting transit efficiency.
In a statement shared on LAMATA’s official X account, the authority announces, “LAMATA begins compensating residents affected by the QBC project in Ojuelegba. The project, part of Package 1, runs from Yaba to Cele and is supported by AfD and the Lagos State Government.”
Engr. Adeyemi Adeniji, LAMATA’s Technical and Programs Management Consultant, details plans to upgrade bus stops and implement priority signaling systems to improve bus movement speed. He underscores the project’s urgency, stressing the importance of leveraging favorable weather for construction progress.
Dr. Babatunde Osho, Managing Director of Global Impact Environmental Consulting, informs affected residents and business owners that they must vacate their properties within two weeks after receiving compensation to facilitate construction. He notes that contractors are ready to start work as soon as the area is cleared.
Representatives from Multiple Development Services, a consulting firm involved in the project, participate in the compensation process. The QBC Project 1 focuses on redeveloping 28 bus shelters along the Yaba to Cele corridor, aiming to boost public transport efficiency and reduce commuting time in Lagos.
LAMATA’s compensation initiative seeks to ensure a smooth transition for affected individuals as the state government works towards a modernized bus corridor, representing a significant advancement in Lagos’ transportation network.
In related developments, the Lagos State Government began the revalidation and valuation process for affected structures in May 2024. LAMATA assures residents that only the necessary space for construction will be utilized, adhering to the approved design.
Contracts for the QBC Project were awarded to China Road & Bridge, Trucrete Solutions, and Craneburg Construction. Each firm is responsible for various routes under QBC Package 1 and subsequent packages, all aimed at improving public transport infrastructure, adding walkways for non-motorized transport, and implementing an Intelligent Transport System (ITS) for better traffic management. This effort is part of the broader Lagos Strategic Transport Master Plan Project (LSTMPP).
The Federal Inland Revenue Service (FIRS) launches a new USSD code, *829#, to improve taxpayer experience in Nigeria. FIRS Chairman Zacch Adedeji introduces the code at the Revenue House in Abuja during Customer Service Week, themed “Above and Beyond.” This makes Nigeria the sixth African country to implement a USSD code for streamlined tax payments.
Dare Adekanmbi, Special Adviser on Media to the FIRS Chairman, explains that the code allows taxpayers on any mobile network to access real-time services. These include retrieving Taxpayer Identification Numbers (TIN), verifying Tax Clearance Certificates (TCC), obtaining information on tax types and rates, finding the nearest FIRS office, and addressing general tax queries.
Adedeji highlights the agency’s commitment to accessible tax administration, stating, “Every taxpayer—whether in bustling cities or remote areas—can connect with FIRS seamlessly.” He encourages the public to utilize the USSD code for their inquiries.
Additionally, FIRS unveils the Customer Centricity Guide, which outlines policies aimed at prioritizing taxpayers and treating them as valued clients. Adedeji emphasizes that with the *829# USSD code, taxpayers can easily access essential services without needing internet access.
Nnenna Akajemeli, national coordinator of Servicom, praises FIRS for its dedication to taxpayer satisfaction, noting that the USSD code and Customer Centricity Guide are significant advancements in simplifying tax processes and improving service quality.
Loveth Onanuga, Director of the Taxpayers’ Service Department, reiterates that the agency’s focus on customer-centricity goes beyond basic needs, aiming to exceed expectations and deliver exceptional service, in line with the week’s theme.
The National Drug Law Enforcement Agency (NDLEA) has announced a significant revision to its visa clearance procedures, removing a controversial policy that required married women to submit an approval letter from their husbands as part of the visa application process.
The now-scrapped provision had sparked widespread criticism, with many describing it as outdated and discriminatory.
The policy gained public attention on Wednesday, igniting debates across social media platforms. Critics expressed their dismay, arguing that the requirement infringed on women’s autonomy and promoted gender inequality in an era where equality is increasingly emphasized.
In a press statement by the NDLEA’s spokesperson, Femi Babafemi, on Thursday confirmed that the provision had been removed as part of a broader review of the agency’s visa clearance procedures.
Babafemi clarified that the requirement, initially introduced due to specific challenges in certain countries, was no longer deemed necessary.
“The entire procedure for visa clearance issued by the NDLEA, as required by some countries, is currently under review, and the requirement for a married woman to present a letter of approval from her husband to travel is one of the items the Agency has since discarded as a non-mandatory requirement,” Babafemi’s stated.
He further reassured the public that this revision reflects the agency’s commitment to evolving policies in line with modern practices. The updated clearance procedures are expected to be unveiled in the coming days.
The International Day of the Girl Child, celebrated annually on October 11, was established by the United Nations in 2012. It brings attention to the challenges girls face globally while promoting their empowerment and the fulfillment of their human rights.
Aisha was born in a small village where cultural norms often placed limitations on girls’ education. By the age of 10, many of her peers had already dropped out of school, forced into early marriage. But Aisha had a dream: she wanted to be a doctor. She didn’t just want to heal people; she wanted to challenge the cycle that kept girls like her from reaching their full potential.
Despite opposition, Aisha convinced her parents that she should continue her education. She started attending classes with boys in the neighboring town, walking miles daily. She faced ridicule, yet her determination never wavered. With time, her resilience paid off. Aisha is now a medical student, set to become the first doctor from her village. Her journey is a testament to the power of education and the limitless potential that lies in every girl, if given the chance.
The Bigger Picture: Why Girl Child Matter
Aisha’s story is not unique. Across the globe, girls face various challenges—from poverty and gender-based violence to unequal access to education. According to UNICEF, over 130 million girls worldwide are out of school. This not only hinders their personal development but also impacts society. Educated girls are more likely to delay marriage, have fewer and healthier children, and contribute to the workforce, boosting economic growth.
Challenges Faced by Girl Child Globally
1. Early Marriage: Many girls are forced into marriage before the age of 18, halting their education and exposing them to health risks.
2. Education: While global efforts have increased school attendance for girls, many still face barriers such as cost, cultural expectations, and safety concerns.
3. Gender-Based Violence: From physical abuse to sexual exploitation, girls often face violence in both their homes and schools.
Global Efforts for Change
Organizations and governments are working hard to combat these challenges. Programs like “Let Girls Learn” and UNICEF’s “Education for Every Girl” are leading the charge. These initiatives aim to remove barriers and ensure that every girl has the opportunity to thrive.
But it’s not just about policies and aid programs. Communities play a crucial role in transforming attitudes. Parents, teachers, and local leaders must be involved in advocating for girls’ rights, dismantling the harmful stereotypes and practices that keep girls from reaching their full potential.
What Can We Do?
The International Day of the Girl Child reminds us of the work that still needs to be done. It’s a call to action for everyone—governments, NGOs, corporations, and individuals alike. To truly transform the future, we must invest in girls’ education, health, and empowerment. Supporting initiatives that tackle early marriage, ensure school access, and provide health resources can drastically change the trajectory for millions of girls.
This year, as we celebrate the International Day of the Girl Child, let’s remember that empowering a girl doesn’t just change her life—it changes the world.
Call to Action
On this day, raise your voice for the girls like Aisha who are defying odds and breaking barriers. Support organizations that focus on girls’ education and rights. Advocate for policies that protect girls from violence and exploitation. By doing so, we can ensure that every girl has the opportunity to lead, learn, and grow into the powerful changemaker she was born to be.
Let’s celebrate the girls of today—our leaders, doctors, and innovators of tomorrow.
The equities market capitalisation of the Nigerian Exchange (NGX) declined by N5.7 billion due to investors that exited their positions in banking names. The negative price movement caused key performance indicators to decline by 0.01% while the year-to-date return moderated further.
Trading records revealed that the market index, or All-Share Index, reduced by 9.95 basis points to close at 97,477.19 points. The NGX market downturn was driven by sell-offs in key market sectors, extending the market’s decline for the third consecutive day. Over the last three days, the local market has witnessed a total loss of ₦132 billion in investors’ wealth, stockbrokers at Atlass Portfolio Limited told investors.
In line with trading direction, trading activities on the Nigerian bourse dipped. Total volume and total value traded fell by 22.01% and 33.07%, respectively. In its market update, Atlass Portfolios Limited told investors that approximately 277.75 million units valued at₦4,653.19 million were transacted across 7,091 deals.
FIDELITYBK was the most traded stock in terms of volume, accounting for 15.62% of the total volume traded on the Nigerian Exchange. Other volume drivers include UBA (11.06%), ZENITHBANK (9.21%), LASACO (7.97%), and ACCESSCORP (6.65%) to complete the top 5 on the volume chart.
ZENITHBANK emerged as the most traded stock in value terms, accounting for 20.59% of the total value of traded on the exchange. REGALINS topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by CAVERTON, which gained +9.73%.
Other gainers include ROYALEX (+8.70%), ABCTRANS (+8.20%), UPL (+7.14%), GUINNESS (+6.21%), and sixteen others. In the market, twenty-two stocks depreciated, according to data from the domestic bourse. DAARCOMM was the top loser, with a price depreciation of -10.00%.
Other decliners include LIVESTOCK (-9.88%), FIDSON (-9.71%), CONHALLPLC (-9.29%), AFRIPRUD (-3.74%), and JAPAULGOLD (-2.82%). Given the market direction, the market breadth closed par, recording 22 gainers and 22 losers.
Today, the market sector performance was negative, as three of the five major market sectors were down, led by the banking sector, which dropped by 0.22%. Also, the oil & gas sector dipped by -0.13% while the consumer goods sector fell by 0.05%.
The industrial and insurance sectors closed flat. Overall, the equity market capitalisation of the Nigerian Exchange fell by₦5.72 billion to₦56.01 trillion.
The naira exchange rate increased somewhat in the forex market as rumours circulated that the Central Bank of Nigeria (CBN) may not begin retail Dutch auctions.
According to spot data from the FMDQ platform, the naira increased by 0.16% and closed at ₦1,622.57 per US dollar in the official market. In the parallel market, the naira finished at ₦1,675 per US dollar.
Demand for foreign currency continues to outstrip FX availability, making exchange rate movement tight across the markets. The difference between official and parallel market pricing has recently surpassed N120 until the Central Bank of Nigeria intervened.
The Apex Bank may have known that there is more to its desired willing buyer, willing seller guideline in a country that depends heavily on imports. With about 90% dependence on hydrocarbons to generate FX receipts, analysts believe Nigeria must do more to increase exportation of value products that meet international standards.
“Country with strong FX receipt and home growth would have a strong local currency,” LSintelligence Associates said in a chat.
In the global commodities market, oil prices rose over 3% due to increased U.S. fuel consumption, Middle East supply concerns, and potential growth in energy demand from the U.S. and China.
Brent prices surged to $79.62, and US benchmark WTI prices to $76.14. In addition, gold prices rose after traders bet on a potential Federal Reserve interest rate cut, reaching $2,642.70 per ounce.
NiMet, Earth Networks Sign Pact On Early Warning Of Severe Weather
The Nigerian Meteorological Agency (NiMet) has issued a nationwide weather forecast predicting thundery conditions from Thursday to Saturday, with a high likelihood of urban flooding in major cities.
According to NiMet’s press release on Wednesday, highlighted regions likely to experience thunderstorms and the associated risks.
On Thursday, NiMet anticipates morning thunderstorms across Nigeria’s northern region, including Taraba, Adamawa, and Kaduna states, with further storm activity expected later in the day across Zamfara, Gombe, Bauchi, Kebbi, and other northern states.
In the North Central region, morning thunderstorms are forecast for parts of the Federal Capital Territory, Niger, Plateau, Nasarawa, Kogi, Kwara, and Benue states, with heavier thunderstorms predicted by the afternoon and evening.
The southern region is expected to witness thunderstorms in parts of Ebonyi and Enugu states in the morning, expanding later to other areas.
On Friday, thunderstorms are expected to persist in parts of Taraba State in the morning, spreading to Kaduna, Kebbi, Adamawa, and Taraba states in the afternoon and evening.
NiMet also predicts thunderstorms across the North Central region, particularly in Niger, Kwara, Benue, and Nasarawa states.
The southern states, including Abia, Imo, Enugu, Oyo, Ebonyi, Delta, Rivers, Cross River, and Akwa Ibom, are also expected to experience thunderstorms throughout the day.
Saturday’s forecast predicts thunderstorms in northern states such as Taraba and Adamawa in the morning, with more storms expected later in Kaduna, Katsina, Kano, and other areas.
In the North Central region, thunderstorms will continue in the Federal Capital Territory, Niger, Kwara, Benue, and Nasarawa states, with additional storms predicted over Plateau and Nasarawa states by afternoon.
NiMet warns of widespread thunderstorms across most southern regions during both morning and evening hours. The Agency has alerted the public to the high risk of urban flooding in major cities due to expected heavy downpours, therefore Residents are advised to avoid flood-prone areas, while strong winds may precede the rains in areas where thunderstorms are forecasted.
They urged the public and airline operators to stay informed by regularly checking updated weather reports and advisories for effective planning.
“Adhere to safety advisories issued by relevant authorities,” NiMet emphasized.
World Mental Health Day, initiated by the World Health Organization (WHO) in 1992, is observed annually on October 10th. The day aims to raise awareness about mental health issues and combat the stigma associated with them, fostering a global conversation on the importance of mental well-being.
According to the World Health Organisation, this year World Mental Health Day, the theme “the theme for 2024 is ‘Mental Health at Work.’ This theme emphasises the crucial role of addressing mental health and well-being in the workplace, benefiting not only individuals but also organisations and communities as a whole.
It also resonates deeply as societies navigate the complexities of modern life, particularly in the wake of a global pandemic that has reshaped our perceptions of well-being.
In a message commemorating World Mental Health Day. First Lady Senator Oluremi Tinubu has taken a prominent role in advocating for mental health awareness. In her address commemorating on Thursday, she urged citizens to recognize the significance of mental health, emphasising the collective responsibility to support one another.
“Emotions bottled up is the beginning of mental health issues and challenges that confront individuals,” Tinubu stated.
Senator Tinubu’s call to action is particularly relevant in the context of workplaces, where stress and dissatisfaction can significantly impact mental health.
“This year’s theme is timely, especially in times like this when most people feel dissatisfied at the workplace for several reasons, which could affect one’s mental well-being,” she added.
The First Lady pointed out that fostering a supportive environment not only enhances individual wellness but can also lead to improved productivity and morale within organizations.
She urged Nigerians to embrace love and support as essential components in reducing mental health challenges.
“With love and support, mental health issues will be drastically reduced within and outside the workplace,” she affirmed.
Tinubu’s emphasis on early diagnosis is particularly crucial. “If there were no fears of stigmatization, people will tend to speak openly about their struggles, thus leading to early diagnosis thereby improving recovery outcomes,” she noted.
As Nigeria observes this day, the First Lady’s call to action is a clarion call for everyone to commit to improving mental health awareness.
She encouraged individuals to seek medical help and counseling early, reinforcing the message that prioritizing mental health is not merely a personal journey but a societal obligation.
The theme “It’s Time to Prioritise Mental Health in the Workplace” is beyond just the confines of office walls; it invites a broader conversation about how we support one another in all aspects of life.
It is crucial to remember that mental health is integral to our overall well-being and societal health.
Oil prices rose as Hurricane Milton heightened supply threats, compounding existing uncertainty from Middle East tensions. Brent crude rose to US$77.28 per barrel, while West Texas Intermediate crude rose to US$73.98, despite China’s dismal demand outlook.
Brent fell to $77 a barrel yesterday, down roughly 5% for the day, along with other commodities, as concerns about Chinese demand weighed on market mood, according to an ING note.
According to analysts, the American Petroleum Institute’s (API) negative inventory data increased short-term pressure on oil prices. Prices have steadied this morning as attention moves to supply issues in the United States owing to Hurricane Milton.
Recent sources imply that Pemex shut down oil platforms and crude-exporting facilities in the Gulf of Mexico due to the hurricane. It was reported that some of the offshore oil platforms were also shut due to the rising hurricane threat. The API stated that US crude oil stockpiles increased by 10.9 million barrels last week, exceeding the market consensus of just 1.3 million barrels.
Crude stockpiles at Cushing rose by 1.4 million barrels. Meanwhile, product inventories fell during the reporting week, with gasoline stocks down by 0.6 million barrels and distillate inventories falling by 2.6 million barrels, in line with market expectations.
The latest Short-Term Energy Outlook from the EIA showed that US crude oil output predictions have been revised downward. The agency anticipates US crude oil output growth to decelerate to 290k b/d year on year, down from its previous estimate of 320k b/d.
The administration now estimates production at 13.22 million barrels per day for 2024. For 2025, the oil output projections were lowered from 13.67 m b/d to 13.54m b/d.
ING analysts said these revisions come as the number of oil rigs operating in the US has been declining for some time now. For US natural gas output, the EIA forecast that dry gas production could fall by 0.3bcf/d this year compared to earlier estimates of 0.4bcf/d of fall. Growth for 2025 has also been trimmed from 1.4bcf/d last month to 1.1bcf/d currently.
Ongoing conflicts in the Middle East, where most of the world’s hydrocarbon resources are located, support price increase. The fight between the Israeli army and Hezbollah has been ongoing since Oct. 2023.
The Lebanese Hezbollah group announced Wednesday it had repelled two attempted incursions by Israeli forces into southern Lebanon with artillery and rocket fire, resulting in injuries among Israeli soldiers. A second statement from the group detailed a similar confrontation in the town of Blida.
Despite warnings from international observers about the growing risk of a regional war, Israel expanded the conflict on Oct. 1, initiating a ground invasion into southern Lebanon as it maintains its devastating offensive against Hezbollah and Gaza.
Oil prices fell by more than 4% on Tuesday following news flow that Hezbollah wanted a cease-fire with Israel, though some question the timing of the call for a cease-fire.
The US State Department spokesman Matthew Miller reacted Tuesday to the cease-fire efforts, saying, ‘Where have they been for a year? For a year, the world has been calling on Hezbollah to stop the attacks across the border into Israel.’
Positive economic developments in the US amid steady economic growth and low unemployment also aided the rise in oil prices. While optimism continues in the US that inflation will be reduced to the targeted level before the economy goes into recession, experts are awaiting the inflation data scheduled for Thursday for further clues about economic activity.
Experts noted that the upcoming inflation data may give signals about whether the US economy will make a soft landing. In addition, the Federal Open Market Committee (FOMC) meeting minutes are expected to give possible cues about future policies.
Analyst expect that the US Federal Reserve (Fed) will cut interest rates by 25 basis points each in the two Fed meetings until the end of the year.
In a significant development for consumers, the landing cost of Premium Motor Spirit (PMS), commonly known as petrol, has decreased to N975.89 per litre, according to the latest figures from the Major Energies Marketers Association of Nigeria (MEMAN).
This decline is attributed primarily to fluctuations in crude oil prices and foreign exchange rates, which are pivotal in determining the cost of refined petroleum products.
On Thursday, global oil markets witnessed a slight downturn, with Brent crude futures settling at $77.41 per barrel, down 60 cents (0.8%). Meanwhile, U.S. West Texas Intermediate (WTI) futures fell by 33 cents (0.5%), ending at $73.24 per barrel.
The reduction in the landing price of petrol is expected to trigger a corresponding drop in retail prices at filling stations nationwide.
However, the degree of this price reduction may vary based on factors such as transportation, storage, and distribution costs, which could temper the anticipated benefits for consumers.
In addition to petrol, MEMAN’s data indicates that the landing cost of Automotive Gas Oil (AGO), or diesel, stands at N1,076.35 per litre, while Aviation Turbine Kerosene (ATK), used for aviation fuel, is priced at N1,111.97 per litre.
Social media in Nigeria is like a wild west – you can find financial opportunities or cat memes! It’s opened up new avenues to grow wealth and achieve success. Facebook, Twitter and Instagram can be powerful tools for networking, marketing and getting financial info.
Businesses and individuals can use social media to reach potential customers or investors. By creating interesting content and sharing info about their products/services, they can attract attention and generate leads. Entrepreneurs can even display their skills, build trust with their audience.
Plus, you can find investment options and financial advice from industry pros. Many financial institutions have educational content on YouTube or LinkedIn, to help people invest and manage their money. Nigerians can make informed decisions on growing their wealth.
Pro Tip: To make the most of social media, be consistent in branding across the platforms. This means same logo, colors and tone everywhere. This builds brand recognition and trust with potential customers or investors.
Understanding the social media landscape in Nigeria
The social media landscape in Nigeria is an ever-changing ecosystem. Businesses and people can use it to reach a large audience, increase brand recognition, and make contact with potential clients.
In recent years, Facebook, Instagram, Twitter, and LinkedIn have become popular in Nigeria. With 86 million web users, social media has become an essential part of life. This provides a great chance for businesses to access a huge market and promote their products or services.
Influencer marketing is common in Nigeria’s social media landscape. Influencers are those with a major following on social media, who can influence the decisions of their followers. Companies can collaborate with influencers pertinent to their industry, boosting their brand visibility and credibility.
Social media also encourages entrepreneurship. A lot of Nigerian youth are using Instagram to launch their own businesses and showcase their products or services. This has led to an emergence of successful online business owners who have taken advantage of social media to make money.
Moreover, social media has facilitated financial inclusion in Nigeria. Mobile banking apps linked to social media accounts let people access financial services, such as money transfers, bill payments, and loans from their phones. This has empowered people who were previously denied traditional financial systems.
It’s important to remember the historical significance of social media in Nigeria. During Arab Spring revolutions, protesters used Facebook and Twitter to rally crowds and raise awareness of political issues. In Nigeria too, these platforms have been influential in facilitating social movements and voicing concerns.
Identifying financial opportunities on social media platforms
Identifying Financial Opportunities on Social Media Platforms
Social media platforms offer various avenues for identifying financial opportunities. Through Semantic NLP analysis, we can uncover potential investment prospects, business collaborations, and emerging trends. By leveraging these platforms, users can connect with like-minded individuals, access real-time market information, and discover unique financial opportunities to capitalize on.
Table: Identifying Financial Opportunities on Social Media Platforms
Column 1
Column 2
Column 3
Investment Prospects
Business Collaborations
Emerging Trends
In this table, we highlight three key areas where financial opportunities can be identified on social media platforms. Investment prospects showcase potential avenues for monetary growth, while business collaborations signify opportunities for partnerships and joint ventures. Emerging trends highlight the latest industry developments that can be exploited for financial gain.
Social media platforms provide distinct features that enable users to identify financial opportunities. Features such as advanced search filters, trend analysis tools, and the ability to connect with industry professionals create an environment conducive to uncovering unique details and potential financial gains.
A true history of identifying financial opportunities on social media platforms dates back to the early days of social networking. As platforms grew in popularity and user numbers soared, individuals began to recognize the potential for financial opportunities beyond personal connections. This realization led to the emergence of various online communities, groups, and forums dedicated to exploring and discussing financial opportunities on social media platforms.
By actively engaging with these communities and utilizing advanced search techniques, users have been able to source investment prospects, forge valuable business relationships, and stay ahead of emerging trends. The history of identifying financial opportunities on social media platforms continues to evolve as technology advances and user behaviors adapt.
Who needs a 9-5 when you can work freelance and make enough money to fill your pockets while scrolling through endless cat memes on social media?
Exploring freelance opportunities
Freelancing offers flexibility and a variety of projects for skill development. Plus, the financial freedom to determine rates and negotiate contracts directly with clients presents potential to earn more.
Exploring freelance opportunities brings benefits such as self-employment, preferred working environments, and professional growth.
Jane Smith is an example of the potential success. She was a graphic designer and sought new opportunities. She used social media to showcase her portfolio and engage with potential clients. This opened up new projects and connections, leading to a flourishing freelancing career.
Capitalizing on affiliate marketing
The idea of ‘Capitalizing on affiliate marketing’ means making use of online affiliate programs to create money-making chances. These plans let people or companies earn commissions by marketing goods or services on social media networks.
Affiliate marketing offers lots of benefits, such as cost-effective advertising, a wide selection of products, the chance of passive income, and access to a global audience. It is a way for people to make money from their online presence.
Besides these pluses, affiliate marketing provides special details that make it more appealing. For instance, it enables marketers to get into niche markets, reaching certain groups of people with focused promotions. This degree of customisation can lead to more conversions and more earnings.
Take Jane, a social media influencer who capitalized on affiliate marketing successfully. By joining forces with brands that mattered to her target audience and producing content that connected with her followers, Jane was able to earn a lot of money through affiliate commissions. Her honest endorsements of products that she really believed in made her followers trust her, and this led to great engagement and conversions.
The strength of affiliate marketing lies in its capacity to make use of the immense reach and influence of social media platforms. By taking advantage of this strategy, people and businesses can open financial opportunities while giving important advice and information to their audiences.
Utilizing social media for e-commerce
Social media is a goldmine for e-commerce businesses. It provides access to a vast pool of potential customers, and offers an array of opportunities for growth and success. Companies must create content that resonates with their target audience to make the most of this platform. Captivating visuals, informative videos and interactive posts are great ways to engage followers.
Leveraging influencer marketing is also a smart move. Influencers can offer authentic recommendations to their followers based on personal experiences. By partnering with influential influencers, businesses can increase their brand presence and drive traffic to their websites.
Social media platforms also offer powerful advertising capabilities. Businesses can use sponsored posts, carousel ads, and retargeting campaigns to target specific demographics and maximize their ad spend. Additionally, social media analytics enable businesses to gain insights into consumer behavior and optimize their strategies for better results.
A recent study by Social Media Today revealed that 90% of Instagram users follow at least one business account. This shows the immense potential for e-commerce businesses to reach engaged audiences and turn them into customers. Be a financial superhero and save your bank account one post at a time!
Building a strong personal brand on social media
Building an influential personal brand on social media is vital for expanding financial opportunities in Nigeria. By effectively establishing and managing your online presence, you can attract potential clients and investors. Enhancing your credibility and expertise through strategic content creation and engagement can significantly impact your success in the financial sphere. Emphasizing your unique value proposition and establishing a consistent brand image are crucial steps in building a strong personal brand on social media.
Craft a social media profile that screams ‘I’m professional’ and ‘I still have a great sense of humor…’ in a non-creepy way.
Creating a professional profile
Choose a professional profile pic that reflects your unique brand. Not selfies or casual snaps – get a high-quality image that fits your personality.
Craft an attention-grabbing bio that emphasizes your expertise, accomplishments and values. Use keywords related to your industry and short sentences to make it scannable.
Showcase your work history, education, skills and certifications. Provide details about your duties and successes in each role.
Share content related to your niche and engage with experts in your field. Demonstrate your knowledge and enthusiasm through comments and discussions.
Stand out by finding your unique selling point. Incorporate it into your profile and content.
An example: Jane Doe. She transformed her presence with an optimized bio and content strategy. She shared marketing-consulting expertise and industry insights. This attracted followers in her target audience. She got speaking opportunities and collaborations with brands, boosting her professional reputation.
In summary: Crafting a professional profile involves visuals, a great bio, relevant experiences/qualifications, and a unique selling point. Follow this guide and share valuable content to establish yourself as a credible expert and build a strong personal brand on social media.
Crafting engaging and relevant content
Make your content visually stunning! Use high-quality images and videos related to your brand. Visuals usually do better on social media. Also, provide tips, advice and insights to your followers – this will make you an expert in your field.
Encourage conversation and interaction. Ask open-ended questions or create polls. Respond quickly and authentically to comments and messages. This will help create a sense of community around your brand.
To make your content unique, share personal stories or experiences that relate to your brand. This will humanize you and build a deeper connection with your audience.
Time to take action! Start using these strategies now and watch as your personal brand grows stronger than ever. Don’t miss out on the potential of social media – start creating captivating content now! Get ready to make your audience go wild!
Engaging with the target audience
To engage your target audience, get involved in conversations and communities relevant to your niche. Show off your expertise and get to know potential followers and clients. Share valuable insights, ask great questions and challenge ideas. Foster meaningful conversations and become an authority.
Leverage user-generated content too. Encourage followers to share experiences, thoughts or creations related to your brand. This creates a sense of community and serves as social proof for customers. Sharing on social media builds trust and credibility.
Let me tell you a story. An aspiring fashion influencer started a YouTube channel. Struggling to gain traction, she engaged with viewers. Responding to comments, answering fashion questions and seeking feedback. As a result, her subscriber count rose quickly. Opportunities from fashion brands and collaborations with other influencers came her way.
You can see that engaging with the target audience is about more than posting content. It’s about building connections and relationships to make personal branding success on social media platforms. Ready to make money out of your social media addiction? Here are strategies that will help!
Strategies for monetizing social media presence
Strategies for capitalizing on social media presence can be effectively implemented to generate financial opportunities. Here are six key points to consider:
Create engaging and shareable content to attract a wider audience.
Collaborate with relevant influencers and industry experts for sponsored content and brand endorsements.
Utilize social media advertising and targeting options to reach a specific and interested audience.
Offer exclusive promotions, discounts, and giveaways to incentivize followers and drive sales.
Develop strategic partnerships with brands for cross-promotion and mutually beneficial campaigns.
Utilize analytics and insights to understand the performance of your social media efforts and make data-driven decisions.
To enhance the success of these strategies, it’s essential to monitor emerging trends and explore innovative approaches that align with your target audience and business objectives. By staying updated and adapting to evolving social media dynamics, you can effectively leverage your online presence and unlock financial opportunities in Nigeria.
In the context of Nigeria, the importance of social media as a powerful tool for financial gains cannot be undermined. With the country’s growing digital landscape and increasing internet penetration, social media has become a primary channel to connect, engage, and influence a vast audience. By tapping into this resourceful platform, individuals and businesses can not only expand their reach but also monetize their social media presence effectively.
In a remarkable instance, a young entrepreneur in Nigeria capitalized on her Instagram presence to build a thriving online fashion business. Leveraging her fashion expertise and social media following, she showcased her unique designs, engaged with her audience, and eventually launched an e-commerce store. Through strategic collaborations and targeted marketing campaigns, her brand gained recognition and generated substantial revenue, solidifying the potential of social media for financial opportunities in Nigeria.
Collaborating with brands and influencers is like finding a needle in a haystack, but once you do, that needle can stitch up some serious financial opportunities on social media in Nigeria.
Collaborating with brands and influencers
Social media’s domination of the digital landscape has made collaborating with brands and influencers an attractive way to monetize one’s online presence. This alliance allows individuals to leverage their influence and reach a broader audience with products or services.
Let’s review the following chart for better understanding this successful strategy:
Influencer
Brand
Collaboration Type
Reach (in millions)
John Smith
Nike
Sponsored Post
5.2
Sarah Johnson
Apple
Brand Ambassador
8.7
Samantha Lee
Coca-Cola
Giveaway
3.1
This table shows various types of collaborations between influencers and brands. Each has its own advantages and objectives. It is essential for both parties to consider the influencer’s reach, as it affects the potential reach of the brand or product.
It is also important to find influencers who align well with the brand’s values and target audience. This ensures that the right people will be exposed to the product.
Collaborations can go beyond traditional advertising. Joint events or co-branded content are some examples.
Research shows that 80% of marketers find this strategy effective in achieving their goals (Source: Linquia). By forming strong partnerships with influencers, brands can reach new audiences and influencers can monetize their social media presence.
As the trend evolves, it is essential for brands and influencers to stay creative and flexible. This will help them maximize the benefits of this powerful partnership.
Do you want to turn your love for Instagram into a money-making machine? Start creating digital products that will have your followers buying from you faster than saying ‘selfie’!
Creating and promoting digital products
Strategies for making & selling digital products:
Product Development – Design and create digital stuff like e-books, online courses, or software to match the interests of your target market. Make sure they solve a problem for your followers.
Market Research – Do thorough research to discover the demand for digital products in your niche. It’ll help you develop offerings that align with people’s interests and have greater chances of success.
Branding – Create a strong brand identity for yourself or your business. This will help you get credibility and trust from your social media followers. Consistent branding will make it easier for users to engage with your digital products.
Content Marketing – Create useful, engaging content related to your digital products. Use blog posts, videos, podcasts, or social media posts to promote them.
Collaborations – Join forces with influential people or brands in your industry to gain access to their audience. Partnerships can help you tap into new markets and spread the word about your products.
Customer Feedback – Gather feedback from customers who bought or used your digital products. This can help you improve existing products and develop new ones based on customer preferences.
To understand why this strategy is so important, let’s go through its history. Content creators have made money on social media by providing unique digital products that cater to their followers’ needs. By leveraging their expertise, they were able to offer valuable resources that attracted paying customers. This allowed them to turn their online presence into a profitable business.
Offering social media consulting services
Successful social media consultants take time to understand the goals and objectives of their clients. This allows them to tailor their strategies accordingly, ensuring the client’s vision aligns with their strategy.
Creating a comprehensive strategy is key – it involves targeting audiences, creating content, managing campaigns, and monitoring analytics.
Consultants must stay up-to-date with trends in the social media landscape, adapting their strategies to remain competitive.
Ongoing support is also necessary – reports, data analysis, campaign optimization, and keeping up with industry best practices.
Expertise should be showcased – case studies, testimonials, thought leadership content, and involvement in relevant events or associations.
To set themselves apart from competitors, consultants can specialize in a particular industry or target niche markets. By honing their expertise, they can become trusted authorities in their field.
Maximize your social media impact and achieve business goals – contact us today! Don’t let your competition leave you behind – take action now!
Tips for managing financial opportunities on social media
Semantic NLP Variation: Maximizing Financial Opportunities on Social Media Platforms
In the era of digital connectivity, social media platforms have become powerful tools for exploring and capitalizing on financial opportunities. To effectively manage these opportunities, consider the following tips:
1. Build a reputable online presence: Establish a professional image on social media by optimizing your profile, posting relevant content, and engaging with your audience. This will enhance your credibility and attract potential financial opportunities.
2. Network strategically: Actively connect with industry professionals, influencers, and potential clients on social media platforms. Engaging in meaningful conversations and participating in relevant groups can help you expand your network and tap into new financial opportunities.
3. Leverage social listening tools: Utilize social media monitoring tools to stay updated about industry trends, market changes, and customer preferences. This information can help you identify emerging financial opportunities and tailor your strategies to meet the evolving needs of your target audience.
Furthermore, it is important to remain cautious and discerning when exploring financial opportunities on social media. Verify the credibility of potential opportunities and conduct thorough research before making any commitments. By following these tips, you can effectively manage financial opportunities on social media and maximize your chances of success.
In addition to the tips mentioned above, it is also crucial to regularly evaluate and adapt your social media strategy for optimal results. Keep track of your performance metrics, analyze your audience engagement, and make necessary adjustments to stay ahead of the competition.
One inspiring story that demonstrates the power of leveraging social media for financial opportunities is that of a young entrepreneur who launched a successful online business through strategic networking on social media platforms. By actively engaging with like-minded individuals, sharing valuable insights, and showcasing their expertise, this entrepreneur attracted a large customer base and experienced significant financial growth.
Setting realistic goals and expectations
Identify objectives:
Know what you want to gain from social media platforms
It could be saving, diversifying investments, or earning money
Setting goals will guide your actions
Check resources:
Consider what time, capital, and knowledge you have to invest in financial opportunities
Knowing your limits will stop unrealistic expectations and avoid disappointments
Research:
Before investing, examine all sources and platforms offering financial advice and options
Look for reviews, testimonials, and success stories for an informed choice
Set milestones:
Break down larger goals into smaller ones
Make measurable targets that meet your overall goal and track progress
Manage risks:
Financial opportunities can come with risks
Implement strategies like diversification, setting stop-loss orders, or seeking professional advice
Be ambitious but practical:
Set realistic goals and expectations to navigate these platforms with confidence
Beware of FOMO (Fear Of Missing Out)
Don’t jump into every opportunity
Evaluate them and understand the risks involved
Make informed decisions based on research and analysis
Monitoring and analyzing performance metrics isn’t fun, but the data won’t improve itself.
Monitoring and analyzing performance metrics
Performance metrics are key for any social media manager. Here’s a breakdown:
Metric: Reach. This is the number of unique users who view your content.
Metric: Engagement Rate. Percentage of people who interact with your content.
Metric: Conversions. Number of users who take a desired action, e.g. buying something.
Metric: ROI. Return on investment from your social media activities.
By monitoring these metrics, you can spot trends, measure marketing impact and adjust strategies. If reach or engagement rate drop, maybe it’s time to rethink your content strategy or target audience.
Also, don’t forget platform-specific data. Like Instagram Insights, which offers data on website clicks, profile visits and follower demographics. This can be used to refine your approach and boost results.
Remember: Monitoring metrics is about using data to make decisions. Analyze findings and try different strategies to maximize financial opportunities on social media effectively.
Oh, and one more thing: Trying to keep up with social media trends and algorithms is like trying to do the floss dance while wearing a straightjacket!
Staying updated with social media trends and algorithms
Monitoring the ever-changing landscape of social media trends and algorithms is key for managing financial opportunities on these platforms. This keeps individuals and businesses relevant, allowing them to reach their target audience and maximize their success potential.
Keep track of social media trends: Be aware of the latest trends in social media, so as to customize financial strategies that fit current user behaviors and preferences. This includes monitoring popular hashtags, viral content, and new platforms.
Understand platform algorithms: Algorithms are used by social media platforms to decide which content is seen by users. Knowing these algorithms helps you optimize posts to maximize visibility and engagement. Regularly update yourself on algorithm changes to ensure your financial opportunities are not compromised.
Utilize analytics: Utilize social media analytics tools to gain insights into user behavior, demographics, and preferences. These data-driven insights can help you make informed decisions about your financial strategies and better your performance on social media.
Adapting trends and algorithms specifically for financial objectives is also essential.
It’s interesting to note that the idea of staying updated with social media trends and algorithms has been around since the MySpace days of the early 2000s. As the years have gone by, and as new platforms have emerged, individuals and businesses have recognized the need to stay ahead by being aware of changing trends and algorithms. This remains a vital part of getting financial opportunities from social media. From online scams to viral financial advice, social media in Nigeria is a hub of opportunities and risks. However, with the right knowledge, it can be ridden like a bucking bronco towards financial success.
Conclusion: Empowering individuals with social media for financial success in Nigeria
Social media has been a powerful tool for financial success in Nigeria. It connects people, even across vast distances. This empowers individuals to explore wealth-creating opportunities.
It also breaks down communication barriers. People use it to connect with investors, business partners, and customers. This opens up new paths for collaboration and growth.
Social media is a great platform to showcase skills, talents, and products to a larger audience. YouTube, Instagram, and other platforms help creative entrepreneurs build their personal brand and attract customers. This boosts their financial prospects and the country’s economy.
It also provides access to resources and information to make better financial decisions. Online courses, webinars, forums, and expert advice are all available.
History shows success stories of individuals who leveraged social media for financial opportunities in Nigeria. Esther Agbaje is an example. In 2020, she used Twitter and Facebook to reach voters during her successful campaign for the Minnesota House of Representatives.
World Mental Health Day, observed on October 10th, is a global campaign that aims to raise awareness about mental health issues and advocate for improved care. In Nigeria, a country coping with myriad socioeconomic issues, mental health has frequently been pushed to the margins.
However, as the nation evolves, there is a rising acknowledgment that mental health is an important component of overall well-being. This article examines the situation of mental health in Nigeria, focusing on the variables that contribute to its prevalence as well as the barriers that persons seeking help encounter.
The Average Nigerian’s Struggle: A Perfect Storm for Mental Health Issues
The average Nigerian experiences a unique blend of challenges that can significantly impact mental health. Economic instability, coupled with the rising cost of living, has placed a heavy burden on many. The relentless pursuit of sustenance can lead to chronic stress and anxiety. Additionally, the pervasive issue of unemployment, particularly among the youth, can contribute to feelings of hopelessness and despair.
Workload and Stress: The Toll on Mental Health
The Nigerian workforce often faces demanding workloads and long hours, leaving little time for rest and relaxation. This relentless pressure can lead to burnout, a condition characterized by physical, emotional, and mental exhaustion. Furthermore, the lack of a supportive work environment, coupled with workplace discrimination and harassment, can exacerbate mental health problems.
Poverty and Its Impact on Mental Health
Poverty is a pervasive issue in Nigeria, affecting millions of people across the country. The constant struggle to meet basic needs can lead to a range of mental health problems, including depression, anxiety, and substance abuse. Poverty can also limit access to healthcare, making it difficult for individuals to seek help for mental health issues.
Bad Government and Its Role in Mental Health
The quality of governance in Nigeria has a significant impact on the mental health of its citizens. Corruption, inefficiency, and lack of accountability can create a sense of hopelessness and despair. Additionally, the government’s failure to address critical social issues, such as education and healthcare, can further contribute to mental health problems.
Unemployment: A Growing Crisis
The high rate of unemployment in Nigeria, particularly among young people, is a major concern. The inability to find gainful employment can lead to feelings of isolation, low self-esteem, and depression. Furthermore, the fear of unemployment can create a constant state of anxiety and stress.
Hunger and Malnutrition: A Silent Threat to Mental Health
Hunger and malnutrition are serious issues in Nigeria, affecting millions of people. Inadequate nutrition can impair cognitive function and emotional well-being. Additionally, the constant worry about food insecurity can contribute to anxiety and depression.
Stigma and Discrimination: Barriers to Seeking Help
One of the biggest challenges facing individuals with mental health issues in Nigeria is stigma and discrimination. The fear of judgment and rejection can prevent people from seeking help, even when they are in dire need. Additionally, the lack of mental health professionals and adequate facilities can make it difficult to access treatment.
Conclusion
Mental health is a growing concern in Nigeria, with a wide range of factors contributing to its prevalence. The average Nigerian faces a unique set of challenges, including economic instability, unemployment, poverty, and the impact of bad governance. These factors, combined with stigma and discrimination, can create significant barriers to seeking help for mental health issues.
To address the mental health crisis in Nigeria, it is essential to raise awareness about the issue, reduce stigma, and invest in mental health services. Additionally, there is a need for comprehensive policies to address the underlying social and economic factors that contribute to mental health problems. By working together, we can create a more supportive and inclusive society for all Nigerians.
A recent report from Juniper Research estimates that worldwide eCommerce fraud rises from $44.3 billion in 2024 to $107 billion by 2029, reflecting a 141% increase. This growth largely stems from fraudsters using artificial intelligence (AI) to execute sophisticated attacks, including the creation of deepfakes that effectively bypass verification systems.
The report highlights the increasing incidence of “friendly fraud,” where customers commit scams like refund fraud, further threatening merchants’ profitability. With AI technology, fraudsters automate their schemes, making it more difficult for traditional fraud prevention methods to keep up.
To address this rising threat, the report recommends that eCommerce merchants implement AI-driven fraud detection systems and biometric identification methods, such as liveness detection, to enhance transaction security.
In Nigeria, experts point out that fraud presents a significant barrier to eCommerce growth, leading many potential buyers to hesitate. Customers frequently prefer pay-on-delivery options due to concerns over payment security, while merchants struggle with challenges like identity theft and chargeback fraud.
The Federal Government (FG) claims it plans to increase raw material value addition to 60% from 25% currently. Uche Nnaji, Minister of Innovation, Science, and Technology (FMIST), stated this on Wednesday during an RMRDC-organized conversation session in Abuja.
Participants in the presentation and debate event included scientific and technology stakeholders, strategic donor agencies, and development partners. Nnaji stated that meeting the 60% goal indicated a daring vision for Nigeria’s future, in which raw commodities are processed and enriched to maximum value before being exported.
He said that Nigeria’s raw materials sector held vast potential not for the growth of our economy and for creating a resilient, self-sustaining industrial base that benefits all Nigerians. “Achieving our target of 60 per cent value addition will lay the foundation for widespread economic empowerment and poverty reduction.
“ The RMRDC in collaboration with the African Development Bank (AfDB), is developing a comprehensive 10-year roadmap to achieve a transformation in Nigeria’s raw material value addition, from the current 25 per cent to at least 60 percent,’’ he said.
He called on the participants to support amd to develop the critical capacities necessary to usher in a new era of raw material utilization that will define the future of Nigeria’s industrial landscape.
“Your support will quicken our pace to the desired target,’’ he said.
He said that the Federal Government would implement a national strategy on competitiveness in raw materials and products development to boost the competitiveness in raw materials and products development in Nigeria.
The Director-General of RMRDC, Prof Nnanyelugo Ike-Muonso also stated that the council had a renewed drive of becoming a continental leader in the raw materials research and development ecosystem.
Ike-Muonso said that the event was designed to showcase the council’s programmes and projects as well as explore technical funding and other opportunities and support for the RMRDC’s proposed ten-year roadmap.
According to the Director-General, this maiden edition of RMRDC’s programme presentation and dialogue session is the first in the series for our transition to continental leadership of the raw materials ecosystem.
He said that the RMRDC’s 10-year roadmap outlined strategic interventions, including building critical capacity in circularity and repurposing, developing relevant databases, and MIS. He said that other interventions were upgrading raw material testing laboratories and associated technology development workshops.
The RMRDC D-G stated that the discussion promised to deliver a comprehensive collection of technical and investment information for investors, researchers, and industry policymakers. Mrs. Esuabana Asanye, the Permanent Secretary of FMSTI, emphasized the relevance of the occasion in debating the National Strategy.
She urged stakeholders to work together for the country’s socioeconomic growth, emphasising the necessity of clearly defined stakeholder responsibilities in policy, legal frameworks, and results.
She urged everyone to work together and make a commitment to achieving the target and the nation’s aspirations.
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