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Category: Business

Technology as a national strategy in Nigeria
April 13, 2021
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| Business, Thoughts
Yele-Thoughts-March2021

If Nigeria decides to base the National Strategy on the production of gas because, we know, oil is dwindling and dying, then we can create an eco-system around gas production. That ecosystem will be driven totally by technology. We can create lots of intellectual property around it from the extraction to everything; to the transportation by pipelines, monitoring it and all the likes using the software specifically designed and implemented. The caveat here is that there has to be that desire for development, as understood by economists. There is a dichotomy between growth and development. One can factually state that the economy is growing and there is no development. An economy growing without development can be liken to a tree with a lot of leaves but no fruits. When we have real growth, we expect to see development. If we...

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Leaders as visioners, hope peddlers, and capital creators
February 12, 2021
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| Business, Thoughts
Yele-Jan2021-Newsletter

Especially in challenging times like the one we are living in; economic independence and innovation has to be foremost in the thinking of leaders-whether it be companies or countries, this is the time for innovative disruption. Life and businesses have been totally and, sometimes, fatally disrupted, but as a nation we are embarking on projects and making decisions for which this generation will not want to be linked in 10 years’ time. Nigeria, for a long time, has lived off the inherent capabilities of her people, endowments, and intellectual desire. We are now firmly at the crossroads where the country will either rise by the genuineness and innovative nature of enterprises birthed or it will once again fall into the trap of colonisation-this time more economic than political. Someone said Nigeria has everything to succeed yet the country has not...

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THE WAY WE EDUCATE THE FUTURE HAS TO CHANGE
February 13, 2019
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| Business, Thoughts
Eduacting the future entrepreneur

Nigeria is blessed with a big population; the largest Black Country in the world is between 190 and 220 million [depending on who is counting] so having 170 universities is a plus but what are the qualities that qualify the teachers in these citadels? In an interview published in IT Edge News, Dr. Yele Okeremi, Managing Director of Precise Financial Systems Ltd argues that there must be a change from the current system that qualifies who can teach the future to the current students. "There’s an old saying that when someone says he has never seen anything like this before, he only wants to scare the people that are listening to him. "There is nothing new under the sun. This is not the first country in the world that has suffered gown and town challenges. Other countries have done this....

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Entrepreneurship and the positive influence of family background
February 6, 2019
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IT-Yele-Entrepreneur

Information Technology (IT) Entrepreneurship has been identified as one of the possible solutions to the economic and social challenges of Nigeria. It is believed that IT entrepreneurship is capable of creating jobs, wealth and bringing about development in the country. This study seeks to investigate the factors that contribute to successful IT entrepreneurship in Nigeria. The study adopted a quantitative approach by conducting a survey on IT entrepreneurs across Nigeria based on its stated hypotheses. The results of the study suggest that IT entrepreneurs who are born by entrepreneur parents are more likely to succeed than those who do not come from such family backgrounds. Similarly, the results indicate that the attendance of a business school is a significant factor for IT entrepreneurial success in Nigeria. Surprisingly, the result did not show any significant moderating effect of mentorship, either by...

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IT to replace the Oil Economy
February 6, 2019
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IT can replace Oil-and-Gas-Okeremi

One of the industries that the Federal Government of Nigeria (FGN) hopes to develop is the IT industry. The action word is ‘hope’. It is presumed that the IT industry is not just able to create an economy of affluence; it could generate employment for the teeming youth in the country. For the IT industry to become an alternative to the very prominent oil sector, its capacity needs to be enhanced and investments to the industry encouraged. Consequently, it is necessary to understand the factors that make IT entrepreneurs thrive and ultimately increase their numbers. This is despite the lack of structures that are taken for granted in America and Europe. This makes it pertinent to contextualize the development of successful IT entrepreneurs in an environment that does not have facilitating institutions that have helped the development of IT entrepreneurs...

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A letter to fellow and aspiring entrepreneurs
December 19, 2018
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| Business
Startup-Entrepreneur-YeleOkeremi

Indigenous Funding Options for Nigerian Startups Shock statement: Apple, Facebook, and Amazon were once startups, but are now among the top 5 biggest business names in the world, bigger than Shell, Mobil, or General Motors. BlackBerry was also a startup but I won’t bother to tell you that story… How many people have a BlackBerry on them? A show of hands [no hands]…this paints the complete picture of where that company is. Startups “A startup is a company working to solve a problem where the solution is not obvious and it does not guarantee success,” says Neil Blumenthal, co-founder, and co-CEO of Warby Parker. “I will say a Startup is an idea, that if well incubated can harness funding from diverse sources and ultimately become a stable business.” According to Harvard’s Business School, a Startup has to answer these questions....

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