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Showing posts from February, 2014

ANOTHER ARMY OF GRADUATES LAUNCHED INTO THE LABOUR MARKET: WHERE ARE THE JOBS?

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It is indeed a national service. A whole year of solemn pledge to serve a fatherland that has failed to father these army of young graduates by providing them with the opportunities that they deserve for a national service well done. Another set of graduates have been launched into the national labour market which has been so weak in supporting the increasing number of graduates it welcomes in February, June and September of every year. Imagine the number of graduates that the national labour market has to cater for. Where are the jobs for this periodic army of graduates? Which sectors are hiring? Which industries are hiring? Which companies/organizations are hiring? How open and reliable is the process of possible hirings? Sectors Hiring You cannot get any information about hiring in the various sectors of the economy. Between 2004-2008, the financial and the telecommunications were priority sectors, hiring young graduates. But today, we cannot say which of the sectors are hiri...

TINAPA: ANOTHER WHITE ELEPHANT PROJECT?

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Cynics may be proven right as the Tinapa Business Resort Limited (TBRL) is fast becoming nothing less than a "white elephant project". The "Africa's Premier Resort", as it is popularly referred to, is crawling under the weight of some N18 billion debt and many other problems that were never envisaged by the initiators of the project. Could it be true that the initiators never saw the challenges that are now threatening the existence of this colossal project that is costing the Cross River State government the sum of N100 million monthly to keep alive? But it was obvious from the speak of the former Governor, Donald Duke, during a two-day retreat held a month after the commissioning of the project in April 2007 by President Olusegun Obasanjo , that Tinapa will face some post-construction challenges which I want to believe were known, but overlooked, before the commencement of the project.And I want to quickly say that these are more than a post-constructio...

BEST SALES STRATEGY AMONG RETAILERS IN NIGERIA: THE USE OF GIFT PROMOS

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Customers are the mainstay of an profitable business world over. Without customers, especially loyal ones, there is no profitable business. No wonder business organizations are striving through all possible, legal means to recruit customers, and maybe, retain them. I have been keenly observing the behaviours of retailers in Nigeria and have discovered a common practice among them when it comes prospecting customers. The best sales strategy they cheaply adopt is the use of promo where cars and other items are showcased as gifts for the customers who will buy certain amount of their products and services. It is a wide spread sales strategy which leaves me with the doubt that we are making real progress business in this 21st century. It shows that we lack innovative ideas and strategies in virtually all aspects of our businesses. Retailers in the country are infested with the copycat syndrome. If we all do the same thing when it comes to prospecting customers, how am I sure those cust...

PRICED ABOVE FACE VALUE: MTN AND ITS RECHARGE CARD VENDORS

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Within the Christmas holidays, there was a sudden hike in the prices of recharge card vouchers across all telecommunication networks, and one wondered what was the cause of the price jerk. It was surprising to learn from a vendor in a remote part of the country that the season and period was responsible for the increase in the prices above the face values of the recharge cards. Now that the Christmas season has come and gone, why are the prices, especially that of MTN recharge cards/vouchers, still unchanged? We expected that the initial hike should go with the season, but in many parts of the country, the prices are still above their face values of N100, N200, N400, N750 and N1,500 (now N110, N220, N430, N780 and N1,550). What are really the causes of these differences in retail pricing? The vendors in defense of their decision  to sell at rates above the face values of the vouchers blamed MTN recharge card dealers for selling to them above the prices they were buying before...