Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

News

Longing for Instant Gratifications Bane of Young Entrepreneurs- Adewoye

Published

on

vera.jpg
Kindly share this post

The survival of a small business post-gestation period hugely depends on the entrepreneur’s approach to overcoming the market realities, which must include overcoming cravings for instant gratification, says Olumide Adewoye, founder of Versacorp Global Concept Ltd.

Also, intending business owners must understand to focus efforts on developing quality product and critically assess the market to attract customers and engender growth, advised Adewoye, Generation Next Youth Empowerment Summit’s WhatsApp (Live) Chat on: “When What You Love Isn’t Paying Your Bills Yet…What To Do”, coordinated by Elbativeni Impressions and Consult.

Adewoye, a Chemical Engineering graduate of Obafemi Awolowo University, Ile-Ife and a Mobil Oil Producing Undergraduate Scholar coordinates efforts of other professionals in the company, said he saved 70% of his salary as a staff of a bank as seed capital to establish the Versacorp Global Concept Ltd.

His professional experience started ‘with a vision of what was possible’, and today cuts across both the manufacturing and financial sectors.

“I wanted to be a career person like everyone else when I was in school. However, while on an Industrial Training, I met a man that gave me a new perspective. I was in my 400 level. So when I came back I began to ask questions about all the equations we were taught in the classroom”, he told over 70 SME owners drawn from across the globe.

Adewoye said he had a product in mind but subjected it to market reality before scaling up.

“So I was producing manually with limited investment in equipment. I had little or nothing to lose. Again, I didn’t resign from my employment before starting out. If there was no real demand, I could stay on a little longer. After deciding on the product, I then invested a lot in how to produce cheaper than competitive products and still come up with something better.

“Whenever I saw an empty drum on the street, in my mind, I was thinking how it could be converted to a reactor. I had no money, but I had a very big vision. After graduation, I got a job in the banking sector. By then I knew I was going to be a business person. I already drew the plan of my proposed business with dates. My long term vision determined my interests.

“After working in the bank for four years, I voluntarily resigned my appointment to start my business full time. Every month I was saving at least 70% of my salary; using it to buy equipment little by little over the period of four years that I worked”, he disclosed.

During the chat coordinated by Destiny Ruth Obiakoeze; Chief Executive Officer of Elbativeni Impressions and Consult and Founder of Elbativeni Foundation Parent companies of the Youth Summit; the Entrepreneur agreed alongside over 70 participants who joined from across the world that ‘Excellent’ academic qualification is no longer a guarantee for suitable jobs or businesses, as ‘Excellence’ is not a strategy in today’s world anymore. It’s a minimum requirement. One, competition is keen. The truth is that we are all competing every day.”

Accordingly, working with a company prior to starting yours has a lot of advantages. A strategy list would be: Know what your purpose is. Know it early enough. Determine the requirements needed to actualize your purpose. Invest in personal development and resolve to pay any sacrifice needed to bring your vision to reality.

Adewoye also advised young people to shun sacrificing learning enduring life lessons on the altar of instant gratification. “The lessons and skills can make you more than the salary,” he said, I know of a man that was employed as one and today he’s a multi-millionaire. He later established his own farm using the knowledge and skills acquired and owns lots of properties around. I have employed a few farm workers in my farm 99.99% of them discuss things like food, phone, clothes, etc with me.

“They don’t see it as an opportunity for them to learn something they can later set up. They want to save enough to buy an android phone from their current Nokia phone. They want to buy new shoes. Unfortunately, most of today’s youth are suffering from the same thing. People who are unemployed possibly use better gadgets than some of us in business. If they are passionate enough, they should deny themselves of those things and channel the money to fund their future. As a bank employee, I wore a suit for 3 years!”

In a contribution, one of the participants Daniel Okpechi said, among other things, “we have authenticated the impression that success is a moving target, the more you aim, the further it advances. Let your last aim not be your final aim. Even if you had failed previously, don’t be discouraged by the pain of failure, because your capacity has inadvertently improved. Try again, and again, because Thomas Edison rightly observed that ‘Many of life’s failures are people who did not realise how close they were to success when they gave up”. A wise man said that ‘knowledge is power’, but I beg to slightly differ from that popular belief. The truth is; knowledge is just potential power!

“Just as the energy in your power bank is useless unless you plug it to your phone, the same way the knowledge we have gained from Mr. Olumide today will lie fallow unless we apply it to solve problems. For it is only then that the potential power can be converted to kinetic power to produce results.

“For those who are waiting for the perfect time, the time might never be perfect because even life itself is not perfect. A Chinese adage says “the best time to plant a tree was 30 years ago, another best time is now”.

“Let that fear of uncertainty not cripple us from adventure because, over 90% of our fears never happen and everything that you have ever wanted is on the other side of fear. Remember: Action cures fear! If you do the things you fear, fear will die naturally”.

This Live Chat is one of many expected virtual series leading up to ‘The Generation Next Youth Empowerment Summit’  (a youth Summit that serves as incubation to growth in life and business with a vision to identify that latent power – passion, inborn in youths, building Leaders) which will hold its 3rd Edition later in October this year in Abuja, Nigeria.

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

News

Nigeria Loses over N200Bn from SSB Tax Annually – CAPPA

Published

on

Kindly share this post

Corporate Accountability and Public Participation Africa (CAPPA) has condemned the loss of over N200 billion annually due to gaps in the implementation of the sugar-sweetened beverages (SSB) tax.

Nigeria Loses over N200Bn from SSB Tax Annually – CAPPA

Mr. Akinbode Oluwafemi, executive director, CAPPA, who spoke on Tuesday during a media roundtable on the SSB tax, remarked that the funds could directly support Nigeria’s goal of increased healthcare financing, including the Basic Healthcare Provision Fund, the National Health Insurance Authority, and school feeding programmes — helping to build a healthier and more equitable society.

Stressing the need to discourage excessive consumption of SSBs, reduce public addiction to sugary drinks, and stem the rising tide of non-communicable diseases (NCDs) among Nigerians, he called on President Bola Ahmed Tinubu to fulfil his campaign promises of implementing consumption taxes to deter behaviour that undermines individual and community health.

Oluwafemi urged the authorities to increase the SSB tax from ₦10 per litre to at least ₦130 per litre to reduce consumption and encourage manufacturers to reformulate their products.

He noted that the President has a clear opportunity to strengthen the SSB tax and ensure its transparent implementation as part of his duty to protect the health and future of all Nigerians.

Oluwafemi insisted that Nigeria is in the midst of a public health crisis, a ticking time bomb driven by the excessive consumption of unhealthy diets, particularly SSBs.

He said, “These sugar-sweetened beverages, popularly known as soft drinks and their likes, are killing us slowly, turning our streets into graveyards and our hospitals into crowded waiting rooms. According to scientific and medical evidence, they are directly fueling the explosive rise in non-communicable diseases (NCDs), including the slump and die trend we are currently witnessing across various parts of the country.

“Not too long ago, conditions like diabetes, hypertension, stroke, heart diseases, and obesity were all rare and described as afflictions of big men and women. Today, they are snatching our fathers, crippling our mothers, sending young people to early graves, and draining the life savings of entire families. According to the World Health Organisation (WHO), NCDs now account for 1 in 3 deaths in Nigeria.

“They are no longer the diseases of the rich or the elderly; they are aggressively decimating our workforce, destabilising our families, and undermining national productivity.

“Families are forced to sell land, liquidate lifelong savings, and descend into absolute poverty in desperate bids to save loved ones. Mothers who should be growing small businesses or mentoring children are instead chained to hospital wards as unpaid, invisible caregivers.”

He contended that a more robust SSB tax would reduce the consumption of sugar-laden drinks, lower the incidence of preventable illnesses, and improve national health outcomes, while also offering a practical way to expand Nigeria’s fiscal space without increasing broad-based taxes.

He emphasised the need to mandate transparent front-of-pack labelling on all food and beverage products, enabling Nigerians to know what they consume. This, he added, would require annual public reporting by the Federal Inland Revenue Service, the Nigeria Customs Service, and the Ministries of Finance and Health to ensure accountability.


Kindly share this post
Continue Reading

News

How Cybercriminals Exploit Gen Z’s Trends from FOMO to Fast Fashion

Published

on

Kindly share this post

Born and raised in a world of fast-evolving technology, Gen Z is the most Internet-savvy generation yet, known for their digital fluency and trendsetting influence. From their earliest years, they have been shaping and redefining the digital landscape, leaving footprints online long before they fully grasp its risks.

But as they navigate a world of hyperconnectivity, social media and online shopping, cyberthreats are evolving just as rapidly.

With its new game “Case 404”, Kaspersky sheds light on how cybercriminals are turning Gen Z’s online habits into attack vectors — and offers practical tips to turn awareness into digital resilience.

  1. Oversharing and digital footprint increase

For Gen Z, sharing life moments online is second nature. Social media platforms like Instagram, TikTok and Snapchat are filled with geotagged selfies, daily updates and personal stories. However, this constant sharing creates an extensive digital footprint that cybercriminals can exploit for identity theft or social engineering attacks.

Oversharing can inadvertently reveal sensitive details, from home addresses in the background of photos to routines that make users predictable. Even seemingly harmless content, like a photo of their partner or pet, can provide clues for password recovery questions.

  1. Fear of Missing Out

The Fear of Missing Out (FOMO) refers to the anxiety or unease that arises from a fear of being left out or not being part of the latest updates or connections if they don’t follow what other people are doing on social media. FOMO is a powerful driver for Gen Z, fueled by social media updates about product launches, concerts and events.

Seeing peers attend events, acquire new products or achieve milestones can lead to feelings of inadequacy or exclusion. Whether it’s a new iPhone drop, Taylor Swift’s Eras Tour or a major sporting event, FOMO can push users to click on unverified links promising early access or exclusive deals.

Cybercriminals exploit this urgency by creating clickbait phishing schemes, leading users to malicious sites that steal login credentials or distribute malware. Fake event tickets, pre-order scams and “leaked” insider information are just some of the tactics used to manipulate this fear.

  1. Nostalgia of Y2K fashion and early 2000s culture

For Gen Z, who were born around or after this era, Y2K fashion represents a blend of nostalgia for a simpler, pre-digital time and a desire to reinvent those styles with a modern twist. Platforms like TikTok and Instagram have amplified Y2K’s resurgence, with influencers recreating vintage looks and sharing thrifted finds. Hashtags like #Y2Kfashion and #Y2Kaesthetic have garnered billions of views.

Gen Z’s fascination with early 2000s culture, from Y2K aesthetics to childhood games, has revived interest in retro titles like The Sims 2, Barbie Fashion Designer and Bratz Rock Angelz.

While these games evoke nostalgia, searching for unofficial downloads often leads users to malware-infested sites. Cybercriminals target this niche interest by embedding malicious software into counterfeit game files. What seems like a trip down memory lane could result in compromised devices or stolen data.

  1. Fast Fashion

Gen Z loves expressive clothes, wants to stand out rather than fit in and has an ever-changing style — what was in a month ago might already be out. Their trend-chasing habits are supported by fast-fashion retailers supplying accessible ways to switch it up. For instance, Chinese fast-fashion giant Shein, loved by Gen Z, adds 6,000 new products to its website per day.

For Gen Z, fast fashion is more than just a shopping preference — it’s a lifestyle. Fast-fashion brands like Shein, ASOS and Fashion Nova deliver affordability and instant gratification, making them staples for this generation. However, the allure of these brands comes with a dark side.

Fake shopping websites, hoax promocodes and phishing ads capitalise on their popularity, using convincing imitations to lure users into entering their sensitive details. The higher the engagement in online shopping, the higher the risk of encountering fake websites and phishing scams designed to steal personal and financial information.

  1. iDisorder

Gen Z face a phenomenon called iDisorder, a condition where the brain’s ability to process information changes because of overexposure to technology. This obsession with technology can result in psychological, physical and social disorders, including depression and anxiety.

This is proven by public research: one in three 18- to 24-year-olds now report symptoms indicating they have experienced such mental health problems.

That is why they are extensively turning to digital tools like teletherapy platforms and mental health trackers to alleviate stress.

However, these platforms store highly sensitive personal information, including emotional states, therapy notes and user routines. If breached, this data could be exploited for blackmailing or phishing.

“Trends may evolve rapidly, but the underlying cyberthreats remain constant. Whether it’s leveraging Gen Z’s love for online shopping, capitalising on the urgency created by FOMO or targeting the growing use of mental health apps, attackers are quick to turn popular behaviours into opportunities for phishing, scams and data breaches,” comments Anna Larkina, privacy expert at Kaspersky.

“Start by taking control: verify links and websites before engaging, use strong, unique passwords and enable two-factor authentication for an extra layer of security. Be mindful of what you share online — and most importantly, remember that staying informed is your best defense. Cybersecurity isn’t just about responding to threats; it’s about empowering yourself to navigate the digital world confidently and safely.”


Kindly share this post
Continue Reading

News

NIPOST to Crack Down on Criminal Courier Operators

Published

on

Kindly share this post

Nigerian Postal Service (NIPOST) has vowed to clamp down on courier companies found to be aiding the trafficking of drugs and other illicit items through the country’s logistics network.

NIPOST to Crack Down on Criminal Courier Operators

In a statement issued on by Franklin Alao, director of Corporate Communications,  NIPOST expressed outrage over a recent report in some newspapers with the headline: “Nigerian courier services easily transporting hard drugs since Tinubu became president – NIPOST.”

The agency described the headline as false, misleading, and damaging to national security efforts. According to NIPOST, the article falsely attributes the claim to the postal regulator, thereby creating the impression that the agency had endorsed or confirmed such allegations.

“This is categorically FALSE,” the statement said. “At no point has NIPOST made such a statement or associated these activities with the administration of President Bola Ahmed Tinubu.”

NIPOST maintained that while it respects the role of the media in promoting accountability and transparency, the publication in question was reckless and sensational.

It warned that inaccurate reporting on sensitive national issues like drug trafficking not only misinforms the public but also undermines the collaborative work being done to sanitise the courier and logistics sector.

Restating its position, the agency said it strongly condemns the use of courier services for criminal purposes, including drug trafficking.

It reaffirmed its zero-tolerance policy toward the misuse of Nigeria’s postal infrastructure and said it remained committed to regulating the sector with integrity, transparency, and accountability.

NIPOST noted that it had embarked on a range of interventions aimed at improving surveillance and enforcement across the logistics industry.

It stated that all courier operators are currently undergoing a revalidation process and that Know-Your-Customer protocols and compliance audits are being enforced to tighten controls and prevent abuse of the system.

The postal regulator said it is also working closely with the National Drug Law Enforcement Agency, the Nigeria Police Force, the Nigerian Customs Service, and other relevant security institutions to investigate and deter the use of logistics channels for the transportation of narcotics and other contraband items.

In addition, NIPOST said it had intensified engagement with courier operators, transport unions, and logistics associations to promote sector-wide vigilance and encourage the reporting of suspicious packages.

It also revealed that a new Digital Postcode and Parcel Identification System is being deployed nationwide to enhance traceability, eliminate anonymity, and improve parcel screening from the point of dispatch to final delivery.

“The Nigerian Postal Service is fully committed to restoring the integrity of Nigeria’s courier and logistics industry,” the statement said. “Any operator found to be involved in criminal activity will face immediate regulatory sanctions, including license suspension or revocation, and be reported to appropriate authorities for prosecution.”

The agency urged members of the public to use only licensed courier companies and to report any suspicious activity either to NIPOST or relevant security agencies.

It also called on journalists and civil society groups to approach issues in the sector with accuracy, caution, and a shared sense of responsibility.

 

 

 


Kindly share this post
Continue Reading

Trending