E-Business
Event Goldmine: Strategies for a Lucrative 2023 Celebration Circuit

By Reuben Kalu
As the world embarks on a new year, the enthusiasm for in-person events is palpable. After facing limitations and uncertainties, people are eager to reconnect, learn, and celebrate together.

Reuben Kalu
This article delves into the evolving landscape of event monetization, offering insights and strategies for individuals and businesses looking to capitalize on the renewed interest in gatherings.
- The Resurgence of In-Person Events:
- Post-Pandemic Dynamics:
- Reflecting on the impact of the pandemic on the events industry.
- The psychological shift and increased value placed on in-person interactions.
- Emerging trends in event preferences and attendee expectations.
- Diverse Event Opportunities:
- Conferences and conventions.
- Workshops and training sessions.
- Festivals and entertainment events.
- Social and networking gatherings.
- Understanding Your Audience:
- Targeting the Right Demographics:
- Analyzing your event niche and identifying target demographics.
- Conducting market research to understand attendee preferences.
- Utilizing data analytics to tailor events to audience expectations.
- Building Community Engagement:
Leveraging social media platforms to create pre-event buzz.
Encouraging user-generated content and participant interaction.
Establishing a sense of community to foster long-term engagement.
III. Event Monetization Strategies:
- Ticket Sales and Pricing Models:
- Implementing tiered ticket pricing for different attendee experiences.
- Offering early bird specials and exclusive packages.
- Exploring dynamic pricing based on demand and availability.
- Sponsorship and Brand Partnerships:
- Crafting compelling sponsorship packages.
- Identifying and approaching potential sponsors aligned with your event.
- Leveraging brand partnerships for mutual promotion and financial support.
- Merchandising and Souvenirs:
- Designing branded merchandise to enhance event memorability.
- Setting up on-site or online merchandise stores.
- Utilizing limited-edition items for exclusivity and increased demand.
- Upselling and Add-Ons:
- Offering premium experiences and VIP packages.
- Providing additional services or perks for an extra fee.
- Creating an à la carte menu of add-on options.
- Leveraging Technology for Monetization:
- Virtual and Hybrid Events:
- Expanding reach through virtual attendance options.
- Monetizing virtual events through pay-per-view models.
- Utilizing virtual sponsorships and digital advertising
- Event Apps and Platforms:
- Integrating in-app purchases and upgrades.
- Utilizing push notifications for targeted promotions.
- Enhancing attendee experience through interactive features.
- Live Streaming and Content Monetization:
- Monetizing live streams through subscription models.
- Offering access to exclusive event content.
- Exploring pay-per-view options for virtual attendees.
- Post-Event Revenue Streams:
- Content Licensing and Repurposing:
- Negotiating licensing agreements for event recordings.
- Repurposing event content for on-demand access.
- Creating online courses or webinars from event material.
- Membership and Subscription Models:
- Establishing a membership program for ongoing engagement.
- Offering exclusive perks and content to subscribers.
- Building a loyal community through recurring revenue.
- Feedback and Analytics for Improvement:
- Gathering attendee feedback for future event enhancements.
- Analyzing event data to identify successful revenue streams.
- Continuously iterating and improving monetization strategies.
- Legal and Ethical Considerations:
- Transparent Pricing and Policies:
- Communicating clearly with attendees about pricing structures.
- Establishing refund and cancellation policies.
- Ensuring compliance with consumer protection laws.
- Data Privacy and Security:
- Implementing robust data protection measures.
- Clearly communicating data usage policies to attendees.
- Complying with relevant data privacy regulations.
The year 2023 presents a promising landscape for event organizers to capitalize on the pent-up demand for in-person gatherings.
By understanding the diverse avenues for event monetization, leveraging technology, and prioritizing attendee experience, individuals and businesses can not only create memorable events but also establish sustainable revenue streams. As the events industry continues to evolve, the key lies in adaptation, innovation, and a deep understanding of the changing dynamics in this dynamic and exciting space.
E-Business
INEC Sets Up AI Division to Strengthen Electoral System

Independent National Electoral Commission (INEC) has announced the establishment of an Artificial Intelligence (AI) Division within its ICT Department.
This marks a significant stride toward enhancing electoral integrity, efficiency, and innovation in Nigeria’s democratic process.
This decision was reached at the Commission’s regular weekly meeting held in Abuja, following a series of consultations and engagements on the global and continental impact of AI on elections.
In a statement issued by Sam Olumekun, national commissioner and chairman of the Information and Voter Education Committee, INEC underscored that the growing relevance of AI in electoral matters necessitated a proactive institutional framework to manage both the risks and opportunities it presents.
“Our interactions with electoral bodies across Africa highlighted both the risks of AI—such as fake news and content manipulation—and the vast potential it holds for data-driven decision-making, risk mitigation, automated voter services, and geo-spatial intelligence for logistics,” Olumekun noted.
According to him, the newly created division will centralise the Commission’s AI efforts, ensuring a harmonized approach to deploying intelligent systems that enhance decision-making, improve voter engagement, and boost the credibility of the electoral process.
“The creation of this division puts the Commission at the forefront of institutionalizing AI capabilities in electoral management.
It is also part of our ongoing reforms in areas where administrative action is sufficient to drive change,” he said.
He added that the AI Division will help INEC better coordinate its existing technological investments while providing safeguards against the misuse of AI technologies.
“We are positioning ourselves to maximise the positive impact of AI while mitigating its negative implications. This step strengthens the credibility and transparency of elections in Nigeria,” Olumekun concluded.
The initiative, INEC emphasised, reflects its commitment to embracing innovation in safeguarding democracy and improving electoral services nationwide.
E-Business
CAC, NIBSS Unveil Platform for Data Access to Private Firms

Corporate Affairs Commission (CAC) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) has unveiled a new Application Programming Interface (API) integration system to allow private firms access company data from the Commission’s database.
Hussaini Ishaq Magaji (SAN), registrar general of CAC, who spoke in Abuja at the unveiling said the system would give selected private organizations access to CAC services through technology-based companies, called “super agents.”
“This is a practical step to show that the Commission is committed to meeting the expectations of our customers,” he said.
Magaji explained that the integration allows the agents to retrieve data from the CAC database for use in specific client requests, outside the standard services provided by the Commission.
“Before now, only a few government agencies had this integration, especially those involved in investigations, anti-money laundering, and terrorism financing. Now, private companies that meet the criteria can also access it,” he said.
He said the system complies with the Nigerian Data Protection Act 2023, and information such as residential addresses, phone numbers, and dates of birth may be restricted.
“This is a call to law firms and companies with the right technology. We’ve started with NIPS because of their credibility. Embassies and banks can now authenticate company records directly through them.”
“There are prescribed fees. We already collect them on our portal, and now customers can also pay through these agents,” he explained.
He named NIPS, MoneyPoint, and OPE as some of the companies involved.
“OPE and MoneyPoint handle only registrations. But NIPS has moved further into validation and verification,” he said.
Ngover Ihyembe-Nwankwo, executive director at NIBSS, who represented Premier Oiwoh, managing director, said the service allows secure and efficient data verification.
“This is the result of years of effort to connect our systems with CAC. It will help users verify data within the limits of data protection laws,” she said.
She said the move is a way to lower costs and promote interoperability across the financial sector.
E-Business
FG Launches Online Citizenship, Business Management Platform

Ministry of Interior has announced the launch of a new Online Citizenship and Business Management Platform in line with the Renewed Hope Agenda of President Bola Tinubu.
A statement signed by Dr Magdalene Ajani, permanent secretary, Ministry of Interior’s said the initiative forms a key part of its ongoing reforms aimed at promoting transparency, enhancing operational efficiency, and significantly improving service delivery to the public.
The new digital platform is designed to streamline the application and processing of citizenship and business-related services, ensuring faster turnaround times and improved user experience.
The platform allows users to apply for and manage business permits, ensuring that both local and foreign businesses operate legally in Nigeria.
It includes an Expatriate Quota System to manage work permits for foreign employees, helping companies hire skilled workers while complying with Nigeria’s immigration laws.
The Citizenship Administration and Management System provides a streamlined online process for applying, tracking, and managing Nigerian citizenship applications and related services.
Members of the public, corporate entities, and other stakeholders are expected to access the platform through the ministry’s website: https://interior.gov.ng , Direct Portal Access: https://candb.interior.gov.ng , or contact candb-support@interior.gov.ng for support and inquiries.
“The Ministry of Interior remains committed to establishing a more efficient, transparent, and secure framework for citizenship administration, while continuously enhancing service delivery through digital transformation,” the statement read in part.
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