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The Nigerian CEO Report Fears Devastating Impact of Pandemic on Real Estate

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The Nigerian CEO Report Fears Pandemic Impact Devastating on Real Estate- Study, SiliconNigeria

About 84 per cent of chief executive officers in Nigeria have agreed that real estate industry in Nigeria is plagued due to the pandemic, especially, companies in the business of office rentals.

This revelation is contained in the recently published CEO Report, a Philips Consulting initiative for 100 Nigerian business leaders.

The PCL. CEO Report further stated that 83 per cent and 55 per cent of CEOs have adopted a ‘Work From Home Strategy’ and ‘Standby Model Strategy’ respectively, and are beginning to question the need for large office spaces.

“Only 46 per cent CEOs are considering retaining their current offices, while others will seek smaller and cheaper offices, shared offices, or adopt an entirely virtual working model,” added the Report.

 In commercial cities like Lagos where massive high-rise office complexes are commonplace, real estate players must be ready for a shift in demand. They might be forced to repurpose their buildings or provide new services to suit the new mode of work, the Report recommended.

The survey that recently engaged 100 Nigeria business leaders on the current economic landscape and presented the insights in its “CEO Report” said, “One word that best describes today’s business environment is “uncertain”. The ‘new normal’ occasioned by the effects of the Coronavirus pandemic is gradually fading away and being replaced by what is termed the ‘next normal’.

Amidst the frenzy of realigning strategies to better position businesses for recovery after the pandemic, the Philips Consulting’s CEO, Rob Taiwo mentioned that “We have been hit with the harsh reality that the Coronavirus might be here to stay. There is no going back to normal; instead, we have a next normal that is unpredictable.”

He said, the conversation to be had now is how to prepare for a future full of unknowns. Speaking on which industries benefit from the crisis, Taiwo, a transformational leader said, “Globally, the IT sector experienced a surge in the wake of the pandemic, as a result of the shift to remote working.

“This resulted in a heavy reliance (or dependence) on IT products for both personal and business purposes.” Nigeria is no exception, he stated, “From our survey, 86 per cent of CEOs reported that the pandemic led to them improving the IT infrastructure of their organizations. Our respondents predict that Nigeria’s healthcare, agribusiness, and manufacturing industries stand to benefit from the next normal.”

“They expect the professional services industry to experience comparatively minimal disruption. This is primarily due to their vast array of services, relatively low operational expense, lean and agile business model, and legacy clients.”

On the levels of preparedness for the pandemic, the Report said, only 6 per cent of CEOs reported that their organizations were prepared for the pandemic. Hence, it comes as no surprise that 55 per cent of Nigerian businesses are currently operating below 50 per cent of their operating capacity.

The 6 per cent mentioned above stated a strong leadership team as the most critical factor of their preparedness. Other important factors include having a robust business continuity plan, government support, and a well-articulated business strategy.

On forging ahead into the next normal, the CEOs Report revealed that 57 per cent of CEOs expect that the earliest possible time for the business environment in Nigeria to normalize will be August 2021.

CEOs are increasingly taking responsibility for their companies, and are not necessarily looking up to the government for solutions to the problems occasioned by the pandemic. As against the 79 per cent of CEOs that voted in the 2019 general elections, only 67 per cent of CEOs reported that the pandemic would make them more interested in the outcome of the 2023 election.

Taiwo said, “Results from our survey showed that the Nigerian government and business leaders should pay close attention to the post-COVID19 policies and strategies of the United Kingdom, China, and the United States of America as these will have the most profound impact on the Nigerian business environment.

“At pcl., we are committed to working with our clients and partners to build and develop people’s capabilities, technology systems and processes, effective and robust strategies, and business continuity plans. Let us work with you to future proof your business in the next normal.”

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LaPRIGA Awards Recognises MTN Nigeria For Community Relations

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LaPRIGA Awards Recognises MTN Nigeria For Community Relations, SiliconNigeria

Leading telecommunications services provider, MTN Nigeria has been recognised for best practices in Community Relations efforts through its social investment arm, MTN Foundation, at the fifth edition of the Lagos Public Relations Industry Gala and Awards (LaPRIGA).

 The annual event organized by the Lagos State Chapter of the Nigerian Institute of Public Relations (NIPR) was created to celebrate exemplary practices, professional accomplishments and long-standing leadership roles of stakeholders, PR practitioners, the media and corporate organisations. Through the awards, the Lagos State Chapter of NIPR aims to boost adoption of global best practices while in turn increasing awareness for the role of PR.

 Commenting on the recognition of MTN Foundation’s efforts, Nonny Ugboma, Executive Secretary, appreciated the Lagos State chapter of NIPR for recognising MTN Foundation’s impact in over 500 communities across Nigeria. According to her, “We understand the crucial role PR practitioners play in strengthening relationships between corporate organisations and their stakeholders. At MTN Nigeria, we have enjoyed mutually beneficial relationships with media practitioners through which we have been able to reach more host communities with our health, education and economic empowerment projects.”

 “We are honoured to not only receive this award but to have been nominated alongside other outstanding organisations. We remain committed to improving quality of life for Nigerians on a sustainable basis.” She added.

 In 2019, MTN won two LaPRIGA awards for best in Crisis Management and Excellence in Internal Communication, this is in addition to a long list of decorations for the brand this year, including the 2020 Nigeria Risk awards for the most responsive organisation to the Covid-19 crisis, brand of the year at the Marketing Edge and Brandcom awards, Investors in People Employer of the Year awards, among others. Since inception, the Foundation has spent over N22 billion in 852 people-centred projects across the 36 states and the FCT, and impacted over 18.6 million lives. 

Established in 1963, the Nigerian Institute of Public Relations (NIPR), is the non-governmental, not-for-profit professional body of qualified Public Relations practitioners chartered by Decree 16 of June 1990 (now an Act of the Federal Republic of Nigeria) to regulate the practice and direct its development.

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Good Together: MTN Nigeria and uduX Partner to Deliver Quality Music Content

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Good Together: MTN Nigeria and uduX Partner to Deliver Quality Music Content, SiliconNigeria

MTN Nigeria today announced a new partnership with uduX, Nigeria’s first domestically launched music streaming service which offers users access to high-quality audio and HD music videos. The partnership will see MTN subscribers gain access to discounted data bundles for accessing content and streaming unlimited music on the uduX app.

 Srinivas Rao, Chief Digital Officer, MTN Nigeria, described the partnership as reinforcing the company’s Good Together mantra, which advocates collaboration as a way to foster growth in different sectors of the economy.

“Our young customers are passionate about music. That is why we have consistently supported the development of the local music industry. We’ve partnered with uduX because we believe in their capacity to deliver high-quality, curated music from around the world, and contribute immensely to the continued growth of the music industry in Nigeria.” 

“If you want to go fast, go alone; if you want to go far, go together,” he added referencing the well-known African adage. “This partnership reaffirms our commitment to supporting the growth of indigenous companies and content through active collaboration.”   

Also speaking, the Chief Executive Officer of uduX, Chidi Aneto Okeke said: ‘‘With all three global major record companies signed to uduX among many others, we will be bringing our MTN/ uduX audience the creme of the global music scene and its international superstars, and of course we are committed to showcasing the very best of our African artistes.  Our partnership with MTN bodes well for the entire music streaming chain, and especially the artistes who will get a chance to earn from locally generated streaming revenue.  We are thrilled to be working with one of Africa’s leaders in telecommunications.”  

With a library of over three million local and international music tracks and videos, uduX enables artistes, DJs, music content providers and aggregators optimize revenue across Africa and beyond. The music industry keeps seeing a rise in local talents and platforms like uduX and MTN who have been at the fore of promoting local content continue to set the pace. 

Customers can register for the service via MyMTN app or go to www.uduX.com. The uduX app is also available for download in the Google Play and App stores.

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Pantami To Deliver Keynote Address At Council Meeting In Owerri

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Pantami To Deliver Keynote Address At Council Meeting In Owerri, SiliconNigeria

L – R: Managing Director (NIGCOMSAT), Dr. Abimbola Alale; Permanent Secretary, Federal Ministry of Communications and Digital Economy, Mr. Musa Istifanus.; HRH Eze TID Uba, Hon. Commissioner for Science and Technology, Hon. Ikechukwu Sunday; Gombe State Commissioner for Science, Technology, and Innovation, Dr. Aishatu Umar Maigari and Director (|Planning, Research, and Statistics) Dr. (Mrs.) Nonye Nwachukwu, during a courtesy visit to Eze Palace in Owerri.

The Honourable Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim (Pantami) is scheduled to deliver a keynote address at the ongoing 8th Regular Meeting of the National Council on Communications and Digital Economy in Owerri, Imo State.

The ongoing 8th National Council on Communications and Digital Economy has a theme titled “Leveraging the Digital Economy Policies and Strategies for Economic Recovery in a COVID-19 Era and Beyond.” Scheduled from Friday, November 27 – Tuesday, December 1.  

The meeting involves all stakeholders from 36 states commissioners and FCT,Security agencies, ICT stakeholders from the public and private institutions.  

In a related event, the Permanent Secretary, Federal Ministry of Communications and Digital Economy, Musa Istifanus led the Council Members on a courtesy visit to the Palace of His Royal Highness, Eze TID Uba, of Owerri.

The Permanent Secretary said that the purpose of the Council coming to his domain is to introduce the Digital Economy to his people so that they can market their products around the world without necessarily being in the market.

He added that with the digital economy their children can be educated without being in the classroom. He noted specifically that this will get the youths to key into the Digital Economy and use the knowledge to make a living for themselves and improve the economy.

In his response, the Eze solicited the help of the Federal Government through the Permanent Secretary to resuscitate  the NIPOST and make it fully functional, and to get the telecom service providers like (MTN, GLO, AIRTEL,9Mobile)  to reduce the cost of telephone calls, and data adding that the cost of using the Internet to render their services is too high which makes it too expensive for the youths to key into the digital economy.

Members of the Council that accompanied the Permanent Secretary includes; the MD, NIGCOMSAT; Dr. Abimbola Alale,  Dr. Ismail Adebayo Adewusi, Post Master-General, NIPOST, Directors, and other stakeholders.

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