News
The 7 Pillars of Positioning
When it comes to positioning, a correlation does make the truth: organizations that stand for something unique in the mind of consumers or customers grow and prosper while the ones that stand for nothing or too many things will eventually disintegrate sooner than later. The survival of any company in a modern market-state-economy is dependent on the quality of information available to its management as well as the staff. Unarguably, the Americans are peerless when it comes to information-sharing; they communicate lavishly. This is the source of the obvious resilience and competitive advantage which many American companies enjoy over their counterparts in Africa and Asia. For instance, there are probably more books on why Enron failed than even on IBM turn-around. But here in Nigeria, we scarcely want to talk on why a company went under because we are only used to talking about best practices. But great lessons can equally be learnt from gallant failures.
Revolutions are happening all around us and the emergence of do-it-yourself technology makes forecasting job to be fraught with enormous vulnerability today. In a market-state–economy, only the fittest companies survive the hyper competitive, dog-eat-dog economic milieu. Consumers are kings; they determine which companies to keep alive and the ones to inter. Little wonder why only 60% of the manufacturing companies and 30% of the banks that sang Christmas carol in December 1999 were alive by January 2008 to say happy New Year. In corporate Nigeria, the question is: How did Zenith bank survive the Soludo consolidation re-engineering and Fountain Trust and 63 other banks got dispatched to The Great Beyond? Was it money- power or network or luck or handiwork of unseen forces? No. The answer lies in Positioning.
Positioning is about what is unique in a company, what a company stands for. How buyers or consumers perceive a company will determine the share of the mind and the share of the shelve which such company’s products will enjoy. Positioning is about perception; and perception is reality. The 25 banks that survive the consolidation exercise are mostly the ones that represent something in the mind of consumers. And even then, it will be discovered that 1+1=5 in some banks after consolidation, while 7+1 is less than 1 among some 8 banks that came together. The long and short of it is that the companies that will survive must stand for something in the mind of consumers. A critical analysis of all the companies that have been forced to close shops whether in the media or manufacturing or telecom industries show that majority of them did not stand for something worthwhile in the mind of their respective patrons i.e. consumers. Hardly can anybody remember what Lead Merchant, Bond, ABC, and Metropolitan banks among others stood for when they were in operation? In the media, can anyone remind us what position Sentinel and Globe magazines occupied in the mind of their readers?
However, it is one thing for an organization to communicate one position to its target audience; it’s a different ball game for the audience to see the perceived value. In the last three years, arising from stiff competition, every organization has been trying to purchase a portion of the consumer mind, some have been successful while majority have failed. This is because most companies don’t match their words with actions. For instance, when Intercontinental bank comes out with ‘the face of Leadership’, people wonder which leadership? – In which area. Zenith bank says it is for people, service and technology: Service for whom? Sky bank on the other hand says it is the leader in e-business, while bank PHB says it is the king of innovation. On its part, GT bank constantly waves the ‘professionalism handkerchief’ to us. These are all wonderful positions but consumers like beautiful brides (which they are) are very cautious; they seek for hard facts, concrete evidence to know which of them is for real.
In the paragraphs that follow, we shall look into the seven pillars of positioning to enable managers of organizations see how IBM, Coca-cola, General Electric, Intel, Microsoft and Apple among other great companies managed to engrave themselves into the minds of consumers globally for generations.
Pillar 1: Leadership. The advantage of being the first in a market segment over being the best is as high as 40%. I totally agree with Al Ries and Jack Trout in their powerful book on Positioning that it is far easier to get to the market place first than to try to convince someone that you have a superior product. We witnessed this when Zenith and GT banks first came out to raise N25billion each in the stock market three years ago; they spent less money in advertising than the other banks which came after them.
Pillar 2: Mind. Marketing battles are won or lost first in the mind: getting to the market first is not as important as getting to the mind of the consumer first. The eternal advantage which Guinness stout has over Legend extra stout is the fact that Guinness got into the mind of consumers first. This is why ladies hardly forget their first ‘toaster’
Pillar 3: Perception. All truths are subjective and relative. Everything in this world is about perception. There is no brand of the year, no bank of the year; no man of the year: its all about perception. Perception is real, and it is everything.
Pillar 4: Focus. Companies that successfully own a word in the prospect minds have won 50% of the battle. 7up: the difference is clear. Coke: Always coca-cola. New Horizons: Everything is possible. First bank: truly the first. Skye bank: saying yes to your dream. It works magic, and it shows on the balance-sheet as well.
Pillar 5: Opposite. When bank PHB went for full re-branding, little did it occur to the management that it will catch fire with consumers. There is opportunity in weakness. Companies that are not number one in getting to the market or mind before competition can still prosper if it plays the law of opposite in marketing very well the way 7up and AVIS car hire have done.
Pillar 6: Line Extension: The temptation is always strong for CEOs to extend the brand equity of a product or name. But the end result is always almost a disaster. Maltina did it with little success. Fanta Chapman in coke was a failure. Almost all banks that went into mortgage business in the 1990s in Nigeria got their fingers burnt. Consumers will have no problem in drinking star lager beer from Nigerian Brewery; but certainly the concept of a coke- beer will take miracle to fly. But this is what most CEOs do each time they run out of ideas to boost revenue base of their corporations.
Pillar 7: Resources. No doubt, a life without oxygen and blood will automatically come to an abrupt close the same way a company without cash. Cash remains the king. Cash is blood in business. Without good resources the most brilliant idea won’t get off the ground. Coke, Microsoft, IBM, MTN have all used their respective financial power to permanently weaken competition. Nonetheless,ideas will continue to rule the world!
Tim Akano (timakano1@gmail.com)
Tim Akano is an IT specialist and CEO, New Horizons. He is a seminar presenter and one of the World’s top coaches on sixth-sense corporate strategy.
News
NAFDAC Destroys over N1 Trillion Fake Drugs in Anambra

National Agency for Food and Drug Administration and Control (NAFDAC) has incinerated counterfeit, substandard, and fake pharmaceutical products valued at over N1trn at the Anambra State Waste Management Authority Dump Site in Agu Awka, Anambra State.

Mojisola Adeyeye, director general, NAFDAC
The haul, including banned substances like Analgin and controlled drugs such as Tramadol 225mg, was confiscated during a month-long enforcement operation targeting major drug markets.
The destruction which happened on Friday, was overseen by Martins Iluyomade, South-East Zonal Director, NAFDAC, representing Mojisola Adeyeye, director general, followed raids on Onitsha Bridge Head Drug Market (Ogbu-Ogu) and Ekumi/Tenant Road drug market in Aba.
She said, “We have come to realise that the time has come to put an end to the circulation of substandard medicines in Nigeria,”
The director also linked the proliferation of such drugs into society, to national insecurity.
She said, “The volume that we found during this exercise is more than enough to destabilise a country,”
According to Adeyeye, the operation uncovered an array of counterfeit goods, with Adeyeye highlighting the seizureMojisola Adeyeye of bulk volumes of narcotics and other medicines that are not approved because of their effect.
She credited the action with saving millions of lives and urged the public to report suspicious products, saying, “When they see something, they should say something.”
Mike Ozoemanam, managing director, Anambra State Waste Management Authority, representing Governor Chukwuma Soludo, praised NAFDAC’s efforts.
He said, “The governor took the bull by the horns because we saw the correlation between the fake drugs and the effect on our youths. We do not want it in Anambra State.”
The agency also commended the media’s role in the fight against fake drugs, calling for continued public support.
News
Bolt Shares the Spirit of Ramadan with Kano Drivers-Partners

Bolt, the leading ride-hailing platform, on Thursday, 19th of March hosted an Iftar gathering in Kano to bring together Muslim drivers during the holy month of Ramadan.
The event was not only an opportunity to share a meal but also served as a platform for open dialogue, feedback exchange, and community building within the Bolt driver network.
The Iftar event, held in recognition of the significance of Ramadan, reinforced Bolt’s commitment to supporting its driver-partners and fostering inclusivity across all communities.
The gathering provided an environment for drivers to voice their concerns, share their experiences, and engage directly with the Bolt team in a collaborative discussion about improving their experience on the platform.
Speaking during the event, Osi Oguah, the General Manager for Bolt Nigeria said: “At Bolt, we recognize the importance of creating a supportive and inclusive environment for our driver-partners.
“This Iftar event was more than just a meal, it was a chance to connect, listen, and understand the challenges and needs of our drivers in Kano. We appreciate their dedication, especially during this sacred period of Ramadan.”
Drivers in attendance expressed their appreciation for the initiative, highlighting the sense of belonging and recognition the event fostered.
Many also welcomed the opportunity to discuss ways to improve their overall experience on the Bolt platform, making it a productive and meaningful engagement for all participants.
Nura Muhammed, a driver-partner said: “We want to say thank you to Bolt for this initiative, if my knowledge serves me right, this is the first time a ride-hailing company will organize such an event in Kano.
“This event has also made it possible for us to share some feedback to them physically and we drivers mostly get to connect through our online platform but today, we’re able to meet physically, mingle and exchange pleasantries”
Bolt remains committed to strengthening driver engagement and well-being, and this Iftar gathering is part of a broader effort to continuously support and empower driver-partners across Nigeria.
News
FG Invests N2.5Bn in Satellite Surveillance System to Revolutionise Mining Sector

Federal government has unveiled N2.5 billion Satellite Surveillance System aimed at revolutionising the mining sector by boosting efficiency, improving safety measures, and fostering economic growth.
Dr. Olugbenga Oyewole, managing director, MikyWay Visuals Limited, detailed how the satellite technology will transform Nigeria’s mining landscape in an interview with Voice of Nigeria,
Oyewole, who represents the commercial wing of the National Space Research and Development Agency (NASRDA), the body responsible for implementing the satellite infrastructure, described MikyWay Visuals Limited as a “pseudo-government company,” highlighting its ties with the government through NASRDA.
“By using satellite data, we are able to monitor, assess, and provide actionable insights to help improve Nigeria’s mining sector,” he noted.
He said the key component of the satellite monitoring system is the creation of a comprehensive mineral map of Nigeria, which will outline the locations of various mineral deposits across the country, “by integrating satellite data with mining licenses issued by the Ministry of Solid Minerals, inspectors can easily identify illegal mining activities and ensure compliance with regulations.”
The Managing Director further explained that miners will be equipped with Radio Frequency Identification (RFID), tagged ID cards, which will enable authorities to verify the legitimacy of mining operations.
He noted that the satellite surveillance also serves a crucial safety function by assessing the integrity of mining sites.
“If a mine is at risk of collapse, the technology will trigger early warnings, allowing authorities to evacuate workers and prevent disasters.
“Satellite data gives us an overview of the entire country, and it doesn’t forget anything,” he said.
Oyewole stated that the system will track the movement of mined materials, process taxes and royalties, and generate QR codes that will facilitate the traceability of minerals as they are transported across the country.
“When customs or law enforcement encounter a truck carrying minerals, they can scan the QR code to verify the authenticity and trace the mineral back to its source,” he explained.
The first phase of the project will include the implementation of these technologies, while the second phase will focus on deploying the electronic reporting platform.
“The goal is to optimise revenue, enhance safety, and ensure that Nigeria’s mining industry operates responsibly and sustainably.”
Oyewole emphasised the principle of “working smart” in operations, noting that targeted strategies can significantly enhance efficiency.
For instance, rather than monitoring every border for illegal exports, customs officials can focus on specific routes, optimising resources.
This smart approach also extends to the mining sector, where inspectors can be directed to high-activity areas, minimising unnecessary manpower.
Oyewole explained that in cases where real-time data is needed, “drones connected to satellite communication are employed for live monitoring.”
Citing the ability to provide live footage of mining operations and share it instantly with government officials, allowing them to direct their teams efficiently.
He also touched on the security of satellite surveillance data, emphasising that access would be restricted on a “need-to-know” basis.
Mining inspectors would only have access to information relevant to their operations, while sensitive data would be available to select agencies like the Ministry of Mines and Steel Development, National Security Adviser (NSA), and the Department of State Services (DSS).
In addition, the technology allows for the review of historical data, which can be crucial for tracking unpaid revenues or past illegal activities.
On the topic of satellite and security data, Oyewole mentioned that the technology being used is beyond reproach.
“You can’t deceive anyone,” he said, referring to spectrophotometers and RFID chips that ensure the authenticity of materials being transported.
“If you are carrying in a truck, maybe you are carrying maybe some gold sand or something, and you get to the customs or anybody, or you meet the mining marshal, and you tell them that this is a bentonite, I’m going to just apply for them to drill pretending as if it’s ordinary sand.
“The spectrophotometer, once you point it at it, it will tell you exactly what and what are in that thing that you are carrying.”
In addressing concerns about the potential for corruption or compromise, Oyewole was confident that the transparency of the technology would eliminate such risks.
“Even if I, as the managing director, were to compromise, the ministry, NSA, or DSS would have access to the same data, making any attempts at deceit impossible.”
Oyewole also advocated for the establishment of refineries in Nigeria to further process minerals, such as gold, to international standards.
By doing so, he suggested, Nigeria could ensure the traceability of its minerals and maximise their economic value.
The government’s proactive approach to creating a traceable and responsible mining industry, he added, will be a key factor in boosting Nigeria’s global competitiveness in the sector.
He believes Nigeria embracing geospatial technology, is essential to effective national governance.
“The difference between Nigeria and America, lies in the use of technology and data agency collaboration. If we leverage these properly, Nigeria can emerge as a global leader, just as America has and we are excited, and this will not be another abandoned project,” he concluded.
- E-Financial2 days ago
FIRS Partners Flutterwave for Digital Payment Collection
- Broadcasting2 days ago
Public Outrage, Legal Threats as Abuja Council Demands N500, 000 as TV Levy
- Telecom2 days ago
Nigeria Charts New Course to Bridge Gender Digital Divide at UN’s CSW69
- General News2 days ago
NIN Enrolment Hits 117.3m – NIMC
- E-Financial2 days ago
Zuriel Oduwole, Sterling One Foundation, and Sanwo-Olu Champion Gender Equality and Youth Empowerment
- E-Financial2 days ago
BOI Launches N10Bn GLOW Fund for Female Entrepreneurs
- News2 days ago
FG Invests N2.5Bn in Satellite Surveillance System to Revolutionise Mining Sector
- News2 days ago
Tinubu Appoints Olukayode Gregory Pioneer Registrar of New Federal University