Business News
SGF, Fashola divided over nation’s housing deficit
Nigeria has a deficit of 16 million to 22 million housing units, but this figure has created a division between the SSG to the Federal Government and Minister of Works and Housing.
The Secretary to the Government of the Federation (SGF), Boss Mustapha, and the Minister of Works and Housing, Babatunde Fashola, are divided over the state of housing in Nigeria. The duo expressed their divergent views at the inauguration of Woodhill Estate, in Abuja)
While Mustapha admitted that the housing deficit in the country, which is within the range of 16 million and 22 million, is unacceptably high, the former Governor of Lagos disagreed stating that the figures of the deficit hadn’t been ascertained and that there are houses available but no one is occupying the apartments.
“As we all know, Nigeria’s housing deficit has been said to range from 16 million to 22 million, the chairman (of FMBN) just said 17 million but that the minister will tell us where it is.
“However, whatever value it is, the housing deficit is unacceptably high. It is for this reason that the government is determined to provide affordable housing as a strategic imperative to guarantee the wellbeing of Nigerians,” the SGF said.
But Fashola insisted that there are houses available but no one is occupying the apartments. He stated that the housing deficit was more experienced in urban areas than what was recorded in rural areas. He said that does not mean that there are no houses available to occupy.
The estate, which was inaugurated by Fashola, has 154 housing comprising 80 units of two-bedroom semi-detached bungalows and 74 units of three-bedroom detached bungalows. The construction of the estate was in two phases.
Babatunde Fashola
(READ MORE: Housing: Tackling Nigeria’s huge housing deficit)
Meanwhile, Nigeria has continued to face housing problems as the shortfall is being recorded in the face of rising population and costly apartments. According to a new report, Nigeria has a deficit of 16 million to 22 million housing units.
The shortfall has become a cause for concern among Nigerians as the gap between demand and supply widens. Apart from the fact that several Nigerians find it difficult to get a roof over their heads, experts urged the Federal Government to address the housing deficit menace.
Business News
Top 10 most innovative companies in tech in 2021
The top 10 most innovative companies extensively adopted AI as part of their innovation strategy.
In every sector across the globe, every company was forced to adapt to the change that came with the pandemic with some companies downsizing and adopting the work from home policy. Some businesses failed while some adapted and have since offered more innovative solutions that have impacted the world.
The pandemic demonstrated the importance of innovation and this innovation was visible in the pharmaceutical industry as they joined their counterparts in the technology and software industry.
The top 10 most innovative companies extensively adopted AI as part of their innovation strategy, Alphabet proves this with innovations in Android and autonomous driving venture Waymo. Amazon has Alexa and AWS, Apple has Siri and a virtual workplace in its iOS platform, and Microsoft has evolved from solely offering software to offering AI and cloud services.
Here are the top 10 innovative companies according to BCG
Apple
Apple has become one of the most valuable brands in the world. This is largely due to its diversification strategy that has caused the company to expand into digital and subscription services beyond the iPhone. Apple also experienced large sales in its mobile devices and now they are rumoured to be producing a self-driving car.
Alphabet
Alphabet Inc. is the parent company of Google that gives ambitious projects the resources, freedom and focus to make their ideas happen. The company essentially separates Google’s profitable businesses, such as Google Search and YouTube from their riskier and more innovative projects. This can be seen in some of its projects like, Google Ventures and Google Capital that provides funding for bold, new companies, Fiber that focuses on providing super-fast internet for a more affordable price and many other amazing projects.
Amazon
Retail giants, Amazon ranks 3rd on this list. The company benefited greatly from the pandemic due to the surge in demand as more consumers turned online following the closure of stores globally. Amazon is also innovating through its AI-powered bot Alexa.
Microsoft
Microsoft has evolved from solely offering software to offering AI and cloud services. The company has focused largely on products by making them accessible to over one billion people around the world who may require additional assistance due to being physically challenged. One of these is the Xbox Adaptive Controller, which is designed for gamers with limited mobility. The company has also championed other innovative products like the Microsoft mesh that is changing the concept of remote work.
Tesla
Tesla is a leading force in the automotive industry through its electric vehicles. The company engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. Tesla deploys artificial intelligence (AI) in its innovation strategy. Their electric cars have consistently defied consumer expectations for reliability, performance, and style.
Samsung
Samsung is a multi-faceted and innovative company that is leading the field in screen technology, batteries, chip design, and mobile devices. The company has shown strong capabilities in growing existing solutions and taking them to market through the high sale of its consumer devices.
IBM
IBM has moved from its old business model of making and selling computer hardware to offering cloud computing services and data analytics. The company specializes in cloud-based artificial intelligence technologies that are available to developers and organizations seeking to incorporate those tools, which include natural language processing and cognitive computing, into their products. Since the creation of IBM Watson became commercially available, the technology has been applied to everything from cancer research, where Watson is used to sort through and decipher millions of medical journals, to retail, where Watson is being used to help shoppers locate exactly what they’re shopping for or similar items.
Huawei
Huawei is the world’s largest supplier of telecommunications equipment. In a bid to be innovative, the company has created innovation in 5G applications and has also established 5G joint innovation centres together with carriers worldwide. Huawei also experienced massive sales of its phones. In the global fight against COVID-19, Huawei launched the Anti-COVID-19 Partner Program that focuses on AI, remote office, smart healthcare and online education, to support the fight against the pandemic.
Sony
Japan’s tech giant, Sony is a leader in camera technology and has shown great success in its camera and gaming products by successfully taking on Canon and Nikon with cameras aimed at professionals and serious amateurs.
Pfizer
Big pharma company, Pfizer became the first company to market an effective COVID-19 vaccine and also deliver a COVID-19 vaccine in record time, getting FDA Emergency Use Authorization (EUA) and distributing millions of doses less than a year after the genetic sequence of COVID-19 was first obtained.
Business
FCT Fuel scarcity: Why the queues have returned
There have been reports of long queues in the FCT, leading to major traffic jams in some parts of the city.
On Monday, 19th of April, 2021, the NNPC GMD, Mele Kyari assured Nigerians that there would be no increase in the ex-depot price of Premium Motor Spirit, popularly known as Petrol in May. Kyari also added that Petroleum Tanker Drivers had suspended their proposed strike after the intervention of NNPC in the impasse between the PTD and the National Association of Road Transport Owners.
“We have given our commitment to both NARTO and PTD that we will resolve the underlining issue between them and come back to the table within a week so that we’ll have a total closure of the dispute,” he said.
However, in the Federal Capital Territory, it was a different story, because the intervention of the NNPC on the proposed strike may have come a little late. Starting on Monday evening, there were reports of long queues in the city, which continued even up to Tuesday afternoon, leading to major traffic in some parts of the city.
At around 2 pm on Tuesday, a trip to fuel stations in the Karu-Jikwoyi area and some other parts of the FCT revealed queues of varying lengths. Fuel stations in the city centres had noticeably long queues as consumers struggled to fill up vehicle tanks and kegs.
A driver, Agbor, spoke to Nairametrics on his ordeal in trying to get petrol.
“I heard the queue was not as bad here as it was in town, so I rushed down to this queue at O-Max but the attendants said they don’t have much fuel for now, and are rationing how much they sell. I had no choice but to buy 10 litres of black market fuel at N4,000.”
At some stations including NNPC filling stations, long queues extended into nearby streets and although vehicular movements were being controlled to provide some semblance of order, the gates were shut in many to prevent mayhem.
The severity of the situation was also quite pronounced at Asokoro. There were long queues at the MRS filling station at AYA junction and A. A Rano station among others. The entry and exit gates were completely shut in many instances with teeming consumers struggling to gain entry. A petrol attendant who asked not to be named told Nairametrics that the situation is temporary and blamed the proposed strike for the inconvenience.
The scarcity situation was not different in Area 11, Garki. The main Total filling station was blocked on all sides and petrol was not being sold from the pumps at press time. The queues had also extended from the station to NNPC HQ. At Conoil, the situation was not much different and as of 2 pm yesterday, fuel was not being sold at the station.
In response to the situation, the federal government, on Tuesday afternoon, gave an update on fixing the fuel scarcity situation as NNPC GMD, Mr Mele Kyari told reporters that fuel loading had commenced in all depots and tankers would soon arrive at various parts of the city to end the scarcity situation.
“These queues will go away. It’s because there was an industrial action by petroleum tanker drivers against their employers, the National Association of Road Transport Owners, around their compensation package.
And those issues were not resolved up till yesterday, until we intervened to ensure that there’s an amicable settlement between the parties so that they will have peace and then normal loading operations will commence from the depots.
As I speak to you at this moment, loading has commenced in all depots in the country, dispatches of trucks are ongoing in all the depots in the country and they have called off the strike for a period of one week to enable us intervene and find a solution.” he said.
