How to join the Nigerian Air Force

Adetunji Matthew
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How to join the Nigerian Air Force

Attending aviation school might be expensive, but that isn’t the only route to becoming a pilot. What better way to serve the motherland and achieve your dream of flying than joining the Nigerian Air Force? If you would like to apply for the Nigerian Air Force, then read on to find out more.

Career Paths

There are three career paths for anyone intending to join the Nigerian Air Force. They include:

  1. The Direct Short Service Commission (DSSC): Through the Direct Short Service Commission (DSSC), which offers opportunities to both serving military members and civilians, you can join the Nigerian Air Force. This is open to degree holders who are professionals in their fields. Under this pathway, intensive military training will be done for 6 months and successful candidates will be commissioned to the rank of Flying Officer.
  2. The Basic Military Training Course (BMTC): The Basic Military Training Course (BMTC) is the second route to enlist in the NAF.

    Candidates with at least a secondary school diploma, as well as those with an NCE, OND, nursing degree certificate, HND, or bachelor’s degree in related subjects, are eligible to apply for the NAF BMTC.
  3. Regular Combatant: The last method to join the NAF is through the Regular Combatant Commission, in which successful candidates can either choose to join the Army, Navy or Airforce. After a 5 year intensive military training at the Nigerian Defense Academy (NDA), successful candidates can move on to become a Pilot Officer in the Nigerian Airforce if they choose to. This pathway is only open to Nigerians between the ages of 17 and 21. 

Also Read: How to save money in dollars as a Nigerian

Requirements for Application 

The general entrance criteria for recruitment into the Nigerian Air Force are described below

  1. Only citizens of Nigeria are eligible to apply.
  2. The secondary school results of interested candidates must have a minimum of five credits overall, with mathematics and English language requirements being met in no more than two sittings.
  3. A minimum of two credits from their O’level results and at least a lower credit in their results are required for candidates who plan to apply with an ND or NCE certificate.
  4. The Drivers/Mechanic role requires a minimum of two credit passes.
  5. If you are applying as an athlete or sportswoman, then you must provide your medal and certifications also.
  6. A military commander or your local government chairman must sign the attestation form for you, and he must attach his passport photograph properly signed at the back, plus a photocopy of his identity card. Any type of national ID card, voter card, driver’s license or international passport is acceptable.
  7. The NAF recruits people who are at least eighteen years old and no older than twenty-five. Candidates must be between the ages of 18 and 28 to be considered for positions as chaplains, imams and their helpers, or drivers and mechanics.
  8. Male applicants must be at least 1.66 meters tall, while female applicants must be at least 1.63 meters tall.
  9. Candidates cannot have a criminal conviction or record.
  10. Candidates must be in good health and have a certificate of health from a government hospital or health facility.
  11. Applicant fitness levels must be high.

Also Read: How to apply for Chinese government scholarships from Nigeria

Documents required for application

The apply for the Nigerian Air Force, you will need to prepare the documents below:

  1. First School Leaving Certificate.
  2. Passport-sized photographs.
  3. A legitimate proof of identity like NIN, international passport, voter’s card etc.
  4. Your BVN number.
  5. Your National Insurance.
  6. Birth certificate or declaration of age.
  7. An indigeneship certificate from your state must be submitted to establish that you are from your state.
  8. Every applicant has to have a Local Government Area Form Attested.

Also Read: How to become a LinkedIn influencer

How to Apply

Below are the steps to apply for the NAF:

1. Obtain the application form

You may get the NAF application form at https://airforce.mil.ng/. To explore the most recent openings and apply for a job, prospective applicants may visit the Nigerian Air Force Career Portal. Online registration for DSSC and BMTC is now available through the site. 

Official registration for the 2024 recruitment opens in October 2024.

2. Fill out the application form and submit

Applicants may apply if they meet all admission requirements and possess the necessary qualifications. It costs nothing to fill out the application. 

Complete the biodata and necessary fields. Ensure that you fill out the application with all the necessary information. Upload all the appropriate documents requested online. Verify again, then apply.

Online applications must be completed within the allotted registration period. The application portal will close after the deadline has passed. To ensure you don’t lose out on the recruiting process, try to submit your application on time. Verify the deadline and make an effort to submit before it. The deadline is usually around November, but it may be different for each year.

Print the following papers after completing the application and submitting it successfully.

Indigenous peoples create local governance.

Form of Attestation.

guardian/parent form.

Acknowledgement form.

3. Wait for the shortlist

The Nigerian Air Force shortlist will be made public upon the conclusion of the recruiting process. The names on the list that are chosen will be published on the recruiting portal and sent by email. 

4. Attend a screening interview and aptitude test

A screening interview is required of the shortlisted candidates as part of the hiring process.

5. Attend a training session

During the last stage of the hiring process, those who pass the aptitude test and screening interview must spend a set amount of time in a training session. The applicants who make the final list will then be hired.

Tips for a successful application 

These are some effective application suggestions for the NAF portal’s online application.

  1. You will be eliminated if you apply more than once.
  2. The format of all the files and information you upload online throughout the application procedure must match the one you used. No updates or modifications will be allowed.
  3. The chairman of your local government or any other military official serving in the Nigerian armed forces must sign the attestation form.

Also Read: How to overcome procrastination

Conclusion

If you are a Nigerian citizen, aged between 20 and 30, and aspiring to serve your nation in the Nigerian Air Force, this is your opportunity to become a member of a select group of experts in anything from engineering to healthcare services.

If your dream is to fly aeroplanes or serve Nigeria as military personnel, joining the NAF is a great option. Although applications are currently closed, this is the best time to prepare the necessary documents and wait for applications to reopen.

How to save money in dollars as a Nigerian

Adetunji Matthew
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0
How to save money in dollars as a Nigerian

If you have ever wondered how you could save in dollars, you should know that you’re not alone. Every smart-thinking Nigerian should know that one of the ways to beat this high inflation and naira depreciation is to save in dollars.

The Nigerian currency seems to be on a free fall against the dollar, and there’s no sign of it abating soon. And that, coupled with other factors has brought so much inflation in the economy.

We have no choice but to turn to the dollar.

This is one of the safest and easiest ways to hedge your naira against inflation, as inflation devalues the purchasing power of the Naira currently in your hand.

In this vein, saving in Naira should be discouraged on all grounds.

For example, if you kept 3500 naira last year, which could have bought a bag of cement last year, that same amount cannot afford that same bag of cement, as a bag of cement now costs about 15000 naira. So this is a testament to the fact that for a nation like Nigeria, every naira saved depreciates with time.

Again, you as an individual must save. Either for the long term or a saving done to purchase something in the shortest time possible. You may even want to save for projects. Whatever the purpose is, you should save in dollars. It can then be converted again to Naira whenever the occasion demands it.

With this article, you will have first-hand knowledge of the various ways this is possible, which will help you make an informed choice on any that suits you well.

Again you should be aware that in all currencies of the world, the US dollar is the most dominant, and seen as a very stable alternative.

This article shows you how to save in dollars and the different financial platforms that make that possible

Also Read: 9 Simple Ways To Save Money as a Nigeria Student

3 ways to save in dollars in Nigeria 

Here are avenues to save your money in dollars in Nigeria:

1. Use of Domiciliary account 

A Dom account for short, is a type of account option offered by the traditional bank in which you’re able to receive funds or deposit in dollars or any major foreign currency.

With the Dom account, you’re able to save your money in dollars. All you have to do is to decide the amount you want to save, and then convert to dollars by buying the dollar equivalent. Then you deposit it on your Domiciliary account.

The account opening process of a domiciliary account is the same as that of a current account. You may need two guarantors who are operating a current account in any bank, as part of the requirements.

With this, your naira will not be affected by the rising inflation.

2. Convert your Naira to stable cryptocurrency assets like USDT

USDT is one of the stable cryptocurrency assets, created by Tether. It acts as the digital dollar or one can say that it’s the digital equivalent of the US dollar.

It will interest you to know that each USDT is equivalent to $1 and it’s backed by the same one dollar in physical reserves.

Theoretically what this means is that the USDT is not affected by market forces and volatility. It’s stable and acts as a safe alternative to the dollar in the digital space.

To save your money in this digital dollar, all you need is to buy this coin, and that’s all.

First, you will have to register with any crypto exchange platform where you can buy the USDT.

Next is to buy the USDT with any amount you want. 

Then you can hold on to it for as long as you want. It’s another viable option to hedge your dollars against the naira.

You can buy USDT with Naira on Bybit.

Also Read: Ways To Save Money In Nigeria

3. Use a fintech app

Fintech has caused so much positive disruption in the way financial transactions are implemented today. With the advent of fintech, life has become more easier and convenient as regards financial matters.

Most fintech apps today allow you to save money in various currencies of your choice, while some go the extra mile to give interest on such savings.

All you need to do is download any of the fintech apps, do all registration and documentation, deposit money in naira, and choose to convert it to dollars or any foreign currency of your choice.

It will be automatically converted to dollars using the current exchange rate.

There, you can hold on for as long as you choose before converting back to the naira.

Also Read: 10 Greatest money saving tips

Some fintech apps to save money in dollars

1. Piggyvest

Piggyvest is a very popular online saving and investment app in Nigeria, as most Nigerians who have an interest in savings have this app on their smartphones.

This app allows users to earn up to seven per cent interest in their savings of dollars, while up to fifteen per cent for saving in Naira.

This app is quite easy to install, as it’s available in the Google or Apple Play Store.

Having downloaded, registered, and funded your account with naira, then converted to dollars.

2. Cowrywise

Cowrywise offers an opportunity to save in dollars. It’s a common fintech app for saving both in dollars and naira.

All you need to do is download the app from Google or Apple Play Store and install it. Proceed to do all necessary registration and deposit in naira the amount you intend to save. 

Then you can convert it to the dollar equivalent and hold on to it. 

Cowrywise also offers interest on money saved. However, the interest rate is not specified as it fluctuates with time.

3. Bundle Africa

This app is more than an online saving app. It is also a crypto wallet that allows you to buy and save in stable cryptocurrency assets like the USDT.

This app offers its users 6 per cent interest annually on savings.

As with other fintech apps, it’s available on Google or the Apple Play Store. 

Download, install, register and fund your account. And thereafter convert to dollars or any stable cryptocurrency.

Also Read: How do you decide when to save and when to spend?

Conclusion

For the average Nigerian, the issue of inflation rocking the economy is a nightmare, and such savings for short or long-term in the naira should be discouraged.

The US dollar is stable, as well as Stable crypto coins like the USDT. 

While opening a domiciliary account may be a viable option, many may not meet the requirements and criteria for opening such an account, as it may seem too cumbersome to many.

In this case, the use of fintech apps becomes the easiest possibility, which is readily available on the Play Store and requires little or no amount of effort for registration.

However, it should be noted that all fintech apps may charge certain percentages for withdrawal. On this note, you must do thorough research to choose out of the several options available.

10 Best places to study in Europe

Adetunji Matthew
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0
10 Best places to study in Europe

Europe is the centre of excellence when it comes to education. European schools are known for their great standard of education, superior instruction, opportunities for growth, adventure and reaching personal goals. It has become a hub for education in recent years, as countless students flock over there to attain the best quality of education, at affordable prices in most cases.

There are countless other advantages of studying in Europe and if you’ve made Europe your study destination then you’ve made the right choice. However, Europe is a huge continent with many countries, so it might be confusing trying to decide which one to choose. In this article, I have narrowed down your choice to the 10 best countries in Europe to study in, so take your pick! 

1. France

While Paris is undoubtedly the nation’s gem, studying in France offers so much more than simply a leisurely walk along the Seine. For many, the allure of France is summed up by the glitz and beauty of the city. Your options for a top-notch higher education are almost endless in France since the country is home to more than 3,500 public and private higher education institutions.

These institutions range from Grandes Einstitution’sversity schools teaching everything from art to medicine. When you combine it with France’s strong cultural influence, you have the perfect place to study for someone seeking a highly regarded degree and a life-changing overseas experience. 

Also Read: 10 Best universities to study law in Nigeria

2. United Kingdom

It is for good reason that the UK is ranked among the best places to study in the world. For foreign students, the United Kingdom is the top option since it is home to some of the most famous and respected institutions in the world. International students have the chance to study and experience a nation rich in culture and history by living and studying in the UK.

In comparison to some of the other nations on our list, the UK may be tiny in size but makes up for it with a lot of content. The United Kingdom’s four member states each contribute their distinct history and opportunities to the combination of ancient monuments, medieval ruins, contemporary architectural wonders, busy cities, charming villages, and a thriving arts and culture scene. 

3. Germany

Germany is a popular choice for foreign students because of its stellar reputation as a global leader in higher education and its affordable living and tuition costs.

You have the perfect place to study when you combine it with the nation’s excellent standards of living, cultural opportunities, and secure, effective infrastructure.

Also Read: 10 Best universities to study medicine in Nigeria

4. Austria

For those who are passionate about the arts and culture and the great outdoors, this picturesque nation in central Europe is the perfect place to study. Austria has one of the greatest living standards in the world, a robust and dynamic economy, and a long-standing commitment to valuing higher education.

Austria is a fantastic destination for overseas students looking to expand their language skills because of its institution’s stellar reputation for academic excellence and high standards for research. Courses are offered in both German and English. 

Austria is a necessity for students of classical music. Vienna, the nation’s capital, is home to the country’s rich musical and cultural legacy, with classical music coexisting peacefully with contemporary art and architecture. 

5. Sweden

Due to its reputation for excellent higher education, decent living conditions, and a warm, inviting environment for foreign students, Sweden often ranks in the top countries to study in Europe. Sweden is a desirable location for international students because of its affordable tuition costs and plenty of programs offered in English.

Similar to its neighbouring Scandinavian nations, Sweden places a high value on work-life balance and well-being. Students studying there will have many opportunities to get a taste of this Northern nation’s easygoing, outdoor culture. 

Also Read: 10 Real Ways To Study Abroad

6. Switzerland

Switzerland is a little nation tucked away in the heart of Europe and the Alps, renowned for its understated financial practices, steadfast adherence to neutrality, and breathtaking natural beauty. Switzerland is a crossroads of cultures as well, with German, French, and Italian influences seen in everything from its architecture to its multilingual populace.

German, French, Italian, and Romansch—a minority language descended from Latin—are the four official languages of Switzerland. Studying in Switzerland will provide you the chance to take in the stunning surroundings and top-tier colleges of the nation. Switzerland’s cities, villages, and countless castles serve as a source of inspiration for historians and builders alike, while its mountains, lakes, and woods are always close by for outdoor lovers. 

7. Netherlands

This little nation is a global education powerhouse, offering cheap higher education, several English-taught programs, and top-notch colleges. With more than 30,000 kilometres of bike lanes, Dutch towns and countryside are a cyclist’s paradise.

Take a bike ride around Amsterdam, the nation’s capital, to see its museums, canals, and exciting nightlife. 

Also Read: 15 Hot Cake Courses To Study In Nigeria Universities

8. Spain

This year, Spain—a nation renowned for its lively and hospitable culture, is one of the best places to study in Europe. Spain’s art, gastronomy, music, languages, literature, and customs all reflect the country’s long and illustrious history of conquering, variety, and legacy.  

With inspiration from the works of artists like Goya, Gaudi, Calatrava, Dali, Campo Baeza, and Picasso, the nation is a sanctuary for students studying art, architecture, and design. Spain is also becoming a hub for technology and innovation; in 2011, the nation established the Spanish Smart Cities Network, and in 2014, Barcelona was designated as the European Capital of Innovation. 

9. Italy

For over a millennium, Italy has been a popular study-abroad destination. Eleven institutions that were formed before 1500 are located there, including the University of Bologna, which was founded in the late 12th century and is the oldest in the world.

Italy was a crucial destination on the Grand Tour in the early modern era, which served as the pinnacle of education for young, aristocratic men. 

This nation in southern Europe has long been a centre for education, innovation, and creativity. Italy provides a broad range of experiences and is now a hub for visual arts, fashion, and design in addition to hospitality, innovation, and engineering. 

Also Read: Best Universities In Nigeria You Should Choose To Study Your Course

10. Denmark

According to the 2023 World Happiness Report, Denmark is the second-happiest nation on earth. It is also renowned for its excellent educational system and for promoting community and well-being via a welcoming, progressive, safe atmosphere.

The country has earned a reputation as a gourmet destination, with Copenhagen, the capital, offering everything from traditional smørrebrød to Michelin-starred New Nordic restaurants. The cities are easily navigable on foot or by bike. The nation is known for its amazing natural beauty and gorgeous sceneries; its 444 islands and seashore are never more than 50 kilometres away.

In addition, Denmark is home to a large number of historically significant locations, including the well-known Tivoli Gardens and the medieval town of Roskilde. 

Conclusion

Studying in Europe provides a world-class education and numerous opportunities when you graduate. The above countries are the best in Europe. If you’re interested in studying in Europe, then they’re your best choices. 

How to apply for Chinese government scholarships from Nigeria

Adetunji Matthew
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How to apply for Chinese government scholarships from Nigeria

Among the most popular scholarships given to foreign students are CSC scholarships. This kind of government scholarship is offered by the Chinese Scholarship Council and is a project of the Chinese Ministry of Education, which aims to promote mutual understanding, political cooperation, cultural exchange, and education between China and other nations. Full or partial funding is available for CSC scholarships.

The Chinese Government Scholarship Program is a fully funded scholarship. It covers tuition waiver, housing, a monthly stipend of CNY 3,500, and complete medical insurance.

The Chinese Ministry of Education (MOE) launched the program, which is supported by the Chinese government, to assist Chinese institutions in recruiting exceptional full-time master’s and doctorate students for graduate study in China.

Since this scholarship was created to promote education, commerce, cultural exchange, and improved ties between China and other countries in the areas of politics and education, it is available to foreign students from any country in the globe, including Nigeria.

Undergraduate, graduate, general, and senior scholars are all supported by Chinese government scholarship programs. Programs with very expensive tuition fees, MBA programs, and MBBS programs (which have very few scholarships) are not covered by CSC.

Take advantage of the coveted Chinese Government Scholarship (CSC) to launch your academic career. This post will go over all the information on the Chinese Government Scholarship, including how to apply from Nigeria. 

Also Read:10 Scholarship opportunities for Nigerian students

How to Apply for the Chinese Government Scholarship 

Applications for the Chinese Government Scholarship must be submitted online using the CSC site. Following that, you must apply for the CSC scholarship to the institution of your choice and the necessary paperwork.

Below is a step-by-step process of how to apply for a CSC scholarship

1. Meet the requirements 

To be eligible for the Chinese Government Scholarship, you need to meet the following requirements: 

  • To continue with postgraduate study, applicants must be mentally and physically healthy non-Chinese indigenous people.
  • Candidates must have graduated from a Chinese institution after more than a year of attendance or be enrolled as students there at the time of application.
  • In addition to being under 35 years old by September 1st of the relevant year, applicants for the master’s degree program must have earned a bachelor’s certificate or its equivalent in China.
  • Applicants for doctoral studies must be under 40 years old on September 1st and hold a master’s degree, which is equal to a master’s degree in China.
  • Candidates should be aware that it will take two to three academic years to finish a master’s degree and three to four years to complete a doctoral program.
  • fulfil additional requirements for eligibility that colleges impose to get admitted.
  • Total age needed to be eligible for a CSC scholarship:
  • Bachelor: 18–25
  • Master: 18–35
  • PhD: 18–40
  • General Scholar: 18–45
  • Senior Scholar: 18–50

Also Read: How to sponsor your university education in Nigeria

2. Choose a university that offers the CSC scholarship

Find a college that grants the CSC Scholarship. 279 institutions across China offer the CSC scholarship. 

Consult the Chinese university of your choosing for unique application guidelines and deadlines.

Next, go to the official CSC scholarship portal application website and fill out the online application for the Chinese Government Scholarship.

3. Choose the scholarship for which you want to apply for

The phrase “CSC Scholarship” is general. There are a ton of different scholarships listed here that you may apply for.

Students enrolled in a university who are already in China fall under the CSC Program Category Type C (first-year students are not eligible for this).

Chinese University Program Scholarship is under CSC Program Category Type B. The applied institutions will assess Type B applications. Candidates for the Chinese University Program may apply to three institutions.

Scholarships outside of universities are under CSC Program Category Type A. To apply for these programs, candidates must enter the “Agency Number” of the relevant accepting organization (such as the Chinese Embassy in a certain nation). The relevant accepting organization will then examine the applications that are submitted. Applications through the Chinese Embassy are accepted for two universities under the following Type A programs: Bilateral Program, European Union Program, ASEAN University Network Program, Pacific Islands Forum Program, Great Wall Program, World Meteorological Organization Program, Chinese Trade Unions Silk Road Scholarship, MOFCOM SCHOLARSHIP-CSC Program, and Marine Scholarship of China Program.

Also Read: 10 Cheapest private universities in Nigeria

4. Find the agency number 

You must provide the agency number of the institution that is funding your scholarship when you apply for the CSC scholarship to study in China. 

5. Get your paperwork ready

The precise documentation criteria for each scholarship must be verified by visiting their respective web pages. But these are the fundamental ones you should be ready for:

  • Two letters of reference in either Chinese or English from professors or associate professors are required only for candidates to graduate programs or senior scholar programs.
  • Certificate 
  • Transcripts
  • Passport page
  • Police Report
  • Study plan
  • Medical report 

Candidates for the Marine Scholarship must additionally apply for collaborative training with appropriate educational institutions. If the candidate requires joint training, he or she applies in either Chinese or English.

6. Send off your paperwork

The deadline for applying varies depending on the specific Chinese embassy, although it often closes in January or February.

Make an application to the dispatching authorities for your home country’s study abroad program. Apply to the institution of your choice after being accepted, then fill out an online application on the CSC website. Make copies of every document for your use. Before the deadline, provide the papers to the appropriate authorities.

Make a note of whom you must mail the paperwork to first. Applying to the university or via the CSC website does not guarantee you a scholarship; you may need to be preselected by another body first. Make sure you do each step in the correct sequence!

Also Read: 6 Financial literacy lessons you won’t learn in school

Frequently Asked Questions (FAQs)

How much money is awarded as part of the CSC scholarship?

The following comprises the benefits awarded to the CSC Scholarship recipients: 

  • Tuition fee waiver
  • A free university dorm or housing 
  • Allowance of CNY 2,500 monthly for undergraduate students, CNY 3,000 per month for general scholars and master’s students, and CNY 3,500 per month for senior academics and doctorate candidates. 
  • CNY 800 medical insurance annually;

Does the CSC Scholarship need an HSK?

Only if you’re applying for the Confucius Institute Scholarship OR a program taught in Chinese do you need to have an HSK.

When applying to an undergraduate or general scholar program taught in Chinese (apart from Chinese language majors), you must have HSK 3; HSK 3 to be considered for a senior scholar program taught in Chinese; HSK 4 to be considered for a postgraduate program taught in Chinese. 

What if I get many offers of CSC scholarships? 

Even if accepted by more than one university, a winner of a scholarship will only be awarded one scholarship. The host institution you will attend will be chosen for you by CSC if you do not provide a preference. One scholarship from the Chinese government may be accepted at a time.

Can I submit more than one scholarship application? 

Yes, you can apply simultaneously to many colleges and scholarships. However, as you are only allowed to take one CSC scholarship at a time, you will ultimately have to make a single choice. Please be aware, too, that many CSC scholarships—like the China Trade Unions Silk Road Scholarship—are limited to a select group of colleges.

How to solve the forex deficit Nigeria

Adetunji Matthew
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0
How to solve the forex deficit Nigeria

Nigeria by estimation, is the largest economy in Africa, with a GDP of over 477.38 billion dollars. She is the supposed giant of Africa as we have been made to believe.

However, one will suppose that by these metrics, the average Nigerian should be living a modest life in all ramifications. But the situation in Nigeria and for Nigerians has proven to be to the contrary. Nigeria’s currency, the naira is currently in a quagmire and has experienced an astronomical fall against the dollar in recent years. 

However, this year alone, the forex market has experienced a volatility that has never before seen. thanks to the floating exchange rate that was implemented by the Tinubu regime which has made the dollars depreciate at a very spontaneous rate.

This problem and its cumulative effects owe its root to the dollar deficit in Nigeria, which again is caused by several factors, among which are the depletion of our forex reserve, fall in oil revenue, corrupt practices in the government and among corporate entities, and over-dependence on the dollar.

The American dollar is in high demand, scarce, and difficult to get by. And by simple economic principle of demand and supply, the naira will continue to fall rapidly against the dollar unless this deficit is curtailed, and the dollar is brought in abundant supply in circulation.

But how do we solve this forex deficit, and how do we make the dollars to be in abundant supply in Nigeria?  What policies do we implement and what measures must be put in place to ensure a smooth and steady appreciation of the naira? 

This article provides true and tested methods and recommendations on how the forex deficits and all their effects can be mitigated.

A brief history of the Nigeria forex policies

It will interest you to know that the naira has struggled against the dollar since the 80s. Before the General Ibrahim Babangida (IBB) era, the naira was about 90 kobo to 1 dollar, but by the time he left office, it was exchanged for N17 t0 $1. 

This coincided with the era when Breaux de change was introduced.

The fact remains that for every successive administration that existed, and no matter the policies that were initiated by CBN of that administration, they have always left the naira worse than they met it beginning from 2003, the oil prices began to rise, and its peak was in 2008 when the price was at $140 per a barrel. This was the time of Chukwuma Soludo as the CBN governor under President Olusegun Obasanjo. This was the oil boom and it was also the period the naira gained about 20 percent against the dollar, without any intervention.

However, it is worth stating that when Soludo took office, the naira was trading at N127 TO $1, and by the time he left office, it had fallen to N147And by the time Godwin Emefiele left office in 2023 as the CBN governor under Buhari administration, the naira has been devalued to about N500 to a dollar. Today, with the introduction of the floating exchange system, the naira now stands at about N1500 to the dollar. 

The naira is experiencing a free, astronomical fall until something drastic is done about it.

Also Read: How to make money from forex trading online

The solution to the forex deficit in Nigeria

Having stated the obvious, we must not shy away from the fact that these seeming challenges have solutions. Let’s examine some of them, and I hope the government and the citizenry will work together to implement these recommendations

1. Increase the forex reserve in the event of oil boom

One of the reasons for this deficit in the forex is the fact that we have little or almost nothing in our reserve. The forex reserve ought to serve as the last resort to mitigate any forex scarcity. But because of the lack of discipline and corruption that has eaten into the fabric of governance, our foreign reserve has been so depleted.

Again, during the oil boom, we ought to have saved more in our forex reserve, but rather, we increased spending and inflated the cost of governance. The time of the oil boom as experienced in the Obasanjo regime ought to be a period of saving and prudent spending.

2. Initiation and implementation of policies that will drive indigenous production

Nigeria, with a population of over 200 million people can be so prosperous if we can turn the tide and become a production-based economy. As such, to curtail the dollar deficit, the government to look at areas where imports must be discouraged and implement policies that will drive the production of locally made goods. This will drastically reduce our dependence on the dollars

Also Read: 5 Ways To Earn Money With Ethereum

3. Boost agriculture and encourage the export of locally-made goods

The agricultural sector alone can offset this current dollar shortage. If the government can become involved and harness the vast arable land that Nigeria is blessed with, cash crops and other agricultural produce, will become one of our major exports apart from the oil

4. Diversification of the economy

When the oil was at its peak per barrel, the government being myopic and corrupt couldn’t save and was not prudent so it fell drastically shortly. However, the effect on the naira would have been mitigated if our economy was diversified.

For example, countries like the UAE were quick and prudent enough to see that the oil boom wouldn’t last. Rather than spending the money and inflating the cost of governance, they invested the money and developed several sectors. This is the Dubai we see today.

Also Read: How to invest in cryptocurrency

5. Solidifying the current CBN policies

While the floating exchange rate is good for a democratic Nigeria, I will suggest that those individuals and entities hoarding the dollars must be checked. Most of these individuals and cooperate entities create artificial scarcity of the dollars.

The government should, as a matter of urgency create a window period for which any forex holder, or cooperate entity should hold the dollar. This means at a certain time, your dollar must be sold and converted to naira.

Also Read: Understanding the Blockchain: A beginner’s perspective

Conclusion

Nigeria can be great again. our naira, more than the dollar can be trusted again. This is not a wish, but a reality we all must pursue. It’s a collective effort, and not just the role of the government. However, the government remains a key player in this regard.

From the recommendations above, if implemented, Nigeria will certainly solve her forex problems, which in turn will lead to the naira appreciating Against the dollars gradually, but steadily.This will in turn have a positive effect on the economy, leading to more creation of jobs, and increasing the overall well-being of the economy.

10 Cheapest private universities in Nigeria (2024)

Adetunji Matthew
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0
10 Cheapest private universities in Nigeria (2024)

For one reason or another, students in Nigeria opt for private universities rather than public universities. There are many advantages to attending a Private university in Nigeria, including less competition for admission which translates to a better chance of gaining admission, a better study environment and a faster study track since you won’t have to worry about strikes or other annoying delays associated with studying in a public university. However, the high tuition fees are a deterrent to many, as most private universities charge a tuition fee of over a million.  

Private Universities in Nigeria are known to be schools for the rich, however, some private universities are affordable. The universities have more reliable and efficient academic calendars, making it easier for students to complete their programs on time and start their careers sooner.

Another benefit of schooling in a private university is that they have smaller class sizes, allowing for more individualized attention for each student. This can significantly help students by enabling them to better grasp complex concepts and engage in more thorough study.

If you want to attend a private university in Nigeria, and you’re short on funds, check out the universities below which are the cheapest in Nigeria. 

Recommended: 10 Best private universities in Nigeria

1. Oduduwa University Ipetumodu (OUI)

Oduduwa University Ipetumodu, situated in Ipetumodu, Osun state is one of the most affordable private universities in Nigeria, providing students with affordable tuition fees and quality education, as well as various opportunities for their academic pursuits.

It serves as a testament to the notion that affordable education can be accessible without compromising excellence. This institution is named after the progenitor of the Yoruba tribe, Oduduwa. It is accredited and recognized by the National Universities Commission of Nigeria.

This institution offers financial help and scholarships to underprivileged deserving students who wish to attend this university. However, students are required to pay for books every semester and their meals. This university’s fee is between N98,000 and N350,000.

2. Alhikmah University

Al-Hikmah University is a Muslim University. It is an excellent choice for those seeking an affordable education. Situated in Ilorin, Kwara state, the institution was established in 2005 with a mere 70 students. Presently, it has a student population of over 7000, having experienced significant growth over the years.

The tuition fee at Al-hikmah University, Ilorin ranges from ₦106,500 – ₦1,362,000. The varying fees are a result of the choice of programmes, and it is also related to whether you’re a fresh student or a returning student.

3. Ajayi Crowther University

Ajayi Crowther University is a private university in Oyo State. The university offers diverse undergraduate programs and is known to be one of the best private universities in Nigeria.

This institution has flexible paying schedules, and paying in instalments is allowed. The tuition fees range from ₦315,000  to ₦1,615,000.

4. Adeleke University 

Adeleke University, situated in Ede, Osun state, is a Seventh-day Adventist faith-based institution that follows the philosophy of education of the Seventh-day Adventist Church. The university provides financial aid in the form of loans and scholarships to students who may have difficulty affording the fees.

In addition to its focus on innovative learning, the university also emphasizes the development of entrepreneurial skills among its students. The tuition fees range from ₦343,500-₦2,120,070 and it can be paid in four installments

5. Paul University

Paul University is one of the most affordable universities in Nigeria, affiliated with the Anglican Church. It is located in Awka, Anambra state. This university offers a conducive environment for learning and growing mentally and professionally.

The current tuition fees at Paul University range between ₦190,000 – ₦240,000. The university also offers loans and scholarships to underprivileged students. 

6. Veritas University 

Veritas University is located in Abuja and is one of the cheapest private universities in Nigeria. They offer financial help to students with financial needs and allow students to pay tuition in several instalments. The fees at Veritas University are between N190,000 and N245,000.

Also Read: 10 Best universities in the USA for Nigerian students

7. Caritas University

Caritas University is a private university in Enugu, Nigeria. The fees for undergraduate students at Caritas University have been approved for the 2023/2024 academic year and range from ₦220,000 to ₦390,000, depending on the program of study.

8. Joseph Ayo Babalola University

Joseph Ayo Babalola University is named after the first spiritual head of the Christ Apostolic Church, Joseph Ayo Babalola (1904–1959). All students at the university reside on campus.

The tuition fee at Joseph Ayo Babalola University ranges between ₦717,000 to ₦1,510,000. This is dependent on the choice of study program. Law, Medicine, and Medical Laboratory Science, are the most expensive courses to study in the university. 

Also read: 10 Best Public Universities in Nigeria

9. Rhema University

Rhema University is a private university located in Abia State Nigeria. The university has programs that meet the educational needs of students. These programs are taught by Rhema University’s knowledgeable instructors who are experts in their fields.

The current school fees of Rhema University range from ₦432,000 to ₦464,000, and this is dependent on the course of study.

10. Lead City University

Lead City is located in Ibadan, Oyo state. It is one of the best accredited private universities in the state. The university demands strict adherence to its rules, ensuring a structured academic environment. 

Lead City University has great amenities like modern computer facilities and an electronic library. Their tuition fees range from ₦432,000 to ₦464,000, and this is dependent on the course of study.

Conclusion

Unlike popular belief, you don’t have to spend a fortune to attend a private university in Nigeria. Although the majority of private universities are expensive, there are a lot of affordable options. If you’re interested in studying in a private university in Nigeria on a budget, the 10 above are the cheapest you would find.

All You Need To Know About Court Marriage In Nigeria

Adetunji Matthew
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45
All You Need To Know About Court Marriage In Nigeria

As at when am writing this article my weeding is just a week due, The main reason why am writing this article is because since have started planning my weeding, I have been receiving messages and advice from here and there telling me not to do court weeding, the danger of it, your wife will just collect everything you work for blablabla.

So i decided to sit down and do my research on this topic. And as you know I will always educates my reader on any knowledge in which i possessed.

Disclaimer: Before you start reading this article i need to make it clear that this is not a legal advice as i am not a lawyer. I studied economic in school and not law. so everything here is based on my personal research, Although i did consulted some of my lawyer friends for some clarity.

without further ado, Let’s get started.

I am not going to be boring you with what is the meaning of court weeding or registry. Also i won’t talk about the Steps Involved in Having a Court Wedding, And advantages or disadvantages of court weeding, If those are the information you are looking for, You can find all that on google.

Am going straight to what men are worried about in court weeding.

First of all, there is nothing like court marriage. That’s a popular misconception. What we have is ‘Registry Marriage’ or ‘Marriage under the Act’.

The court is not conferred with the power to conduct or celebrate marriages. They don’t have the right to ‘wed’ or ‘join together’ anyone. The court only has the power to do the following; dissolution of marriage (e.g divorce, legal separation), issues of settlement or other legal remedies in and out of marriage. The proper place for the celebration of marriage is a Registry or a Licensed place of Worship.

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Paragraph 1.

1.1. In Nigeria, we have two kinds of recognised marriages; (1) customary marriage (this includes the Islamic Marriage) and (2) Statutory Marriage (not white wedding). I will explain this as we go on.

1.2. A traditional marriage is not necessarily a customary marriage. A customary marriage is a complete marriage procedure by itself especially if you have no intention of getting married statutorily. The customs, practices and traditions of (both parties) governs such solely and nothing more. ‎A traditional marriage especially in Nigeria simply pays allegiance to traditions and practices without being bound by such laws once a statutory marriage is done. It is an example of ‘give unto ceaser what belongs to ceaser’.‎

1.3. A statutory marriage overrides a customary(traditional) marriage. This means, you can either wed customarily or statutorily and if you do both, the Statutory Marriage backed by ‘The Marriage Act’ completely cancels the other. It can be argued that in a deeply cultural/communal place like Nigeria, sometimes parties for the sake of peace, or just to fulfil family obligations and to pay obeisance to traditional rites, conduct a traditional (a variation of a customary marriage) before conducting a statutory marriage.
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1.4. (it is pertinent to note here that the Registries/licensed place of worship don’t need proof of a traditional marriage celebration before joining parties together under the Act) To be legally married, you don’t need to fulfil any traditional obligation. The law does not recognise or make demands for such because it amounts to writing same examination two times for just one course when one is all you need.

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Paragraph 2.
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2.1. The Marriage Act governs statutory marriage in Nigeria. That’s why it is simply referred to as Marriage under the Act. A statutory marriage has the flavour of the law and recognises just one man married to one woman. Meaning, if Polygamy is your aim and your religion or culture does not frown at more than one wife, then there is no need of conducting ‘a registy marriage’ or a marriage under the Act. This is the major difference between a statutory and a customary marriage. The law defines marriage as between just two people, one man and one woman. Nothing more.‎

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Paragraph 3.

3.1. A statutory marriage can be celebrated in either of these two places;
1. A registry OR
2. A licensed place of worship. (e.g a church)

3.2. A ‘church’ wedding does not confer any legal status on a marriage if such church is not licensed or if the license has been revoked by law. We usually mistake a church wedding for a ‘statutory marriage’ and that’s very far from the reality. A church marriage that does not comply with the processes as stipulated by the Act can best be described as a party. I always love to tell my friends to ensure that their worship centres are licensed and if it isn’t, head to the nearest registry or LG headquarters to be joined by a Registrar.

3.3. Something else, let’s take for instance I own a church, registered under Part C of CAMA and it is called Hallelujah Ministry, and I have about 449 branches, it should not be assumed that all 449 branches are licenced places of worship for the purpose of celebration of Marriages. Issues of licence are very specific. Licence is not blanket. It is possible that my branch at Ikorodu is licensed while my branch at Nnewi, isn’t. Governors of states by a gazette can confer or revoke licences on worship centres. A church being registered under CAMA does not necessarily make it licensed.‎

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Paragraph 4.‎

4.1. The statutory marriage is conducted by a Registrar OR a Minister of a licensed place of worship. Emphasis on LICENSED. This means that if you were legally joined together by a Registrar, there is actually no need for a Minister(your pastor, reverend, bishop, apostle, spiritual leader etc) to do same again. Vice versa. Celebrating in these two places can at best be ‘duplicity’. But I also understand the need especially in a religious society like ours to want a church to ‘bless’ your marriage even after a registry celebration. But note, one is enough and okay.

Note: two things must be in place especially, a licensed place and a licensed person to perform the celebration.

Further Note: I line with while i was doing this research i found out that something played out in court last year and this line of question redirected me back to the Act. The only recognised time to be joined together legally is from the hours of 8am to 6pm. Anything after has a cloud of uncertainty. Sometimes very little things like this go a very long in making or marring a case.‎‎

4.2. The importance of being legally joined together plays out in the following circumstances;
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(a) when parties want to go their separate ways e.g. divorce, separate or remarry. And this is where a couple of people I’ve spoken usually have an issue. I’ve heard a man being advised not to do a ‘court marriage’ because his wife will take all of his properties away. Actually, that’s very far from the truth and reality. The court in Nigeria is not vested with such powers. Issues of compensation comes up when there are children to support, joint properties to split, promises, financial debts by one party, agreed compensation by both parties etc. No one strips you of your properties because you did a registry marriage.‎ This is one misconception that fuels suspicion if a lady insists on a statutory marriage.

(b) death of one party and issues of estate administration. If a person dies, his properties will be administered based on two things, his/her or will or if he had no will the governing law upon which he was legally subjected in marriage. Marrying under the Act makes your estate administered by the law of your states and not the customs or traditions of your place. This is always very dependable because on order of priority, your family is well catered to and it minimises conflicts & problems amongst your loved ones. (another post entirely)‎‎
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(c) if a party wants to conduct another marriage, being legally joined together estopps such from happening. In fact, it even makes it criminal. If your marriage was not ‘legally’ recognised under the Acts, nothing stops him/her from marrying another person while you’re still together. An act provides marital security especially from ‘wandering-proned’ spouses.‎
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(d) if one party is indicted in a criminal or civil matter. A legally recognised marriage protects the right of a wife or husband not to give evidence or testify against the other spouse. But such covering doesn’t exist if such marriage was not properly celebrated as provided by the law.
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(e) other legal benefits that may accrue by law e.g. medical covering and insurance from your spouse’s place of work, care packages accruing from services rendered by a spouse, disability benefits, social security, issues of insurance etc. A legally recognised spouse can reap spousal benefits that may be provided for by private or public institutions. This extends even to the children.‎ This does not apply if parties are not ‘legally’ joined.
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(f) purposes of foreign travel, immigration etc. E.g. If you want to marry a Nigerian and relocate her to your country, only a statutory marriage will cover for that. The processes only recognise a Marriage conducted under the Act. This is just one out of the many examples in issues of immigration etc.
(many more to come)‎

4.3 A marriage not properly celebrated is seen by the law as null and void. It means it may as well not exist.

4.4. Currently, all Local Government Areas have Registries and Registrars to conduct and celebrate marriages. So wherever you are in Nigeria, you are covered. The process is the same anywhere.

Paragraph 5.

5.1. Conducting/celebrating a statutory marriage has the same uniform procedure whether in a registry or a licensed place of worship. To avoid making this cumbersome, I’ll put up a link to the Marriage Act but also talk to your lawyer to guide you through. ‎Also, you can make findings in your local registry or place of worship about these processes and be mindful that it complies with the provision of the Act.‎

Note: It is the simplest, cheapest, easy to fund/celebrate form of marriage in Nigeria, especially in these time of economic unsettling.

5.2. Any question or observation can be raised or discussed here or with lawyers around you. I will also share in the comments, legal authorities backing the above summation.

For your information, I am going to do both, the court marriage and the church marriage. My fiancé requested for it, and am giving it to her.

You are all invited to my weeding coming up 16th of this month, Email me if you need the location. Keep us in your prayers

Financial compatibility: Why it is important in relationships

Adetunji Matthew
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0
Financial compatibility: Why it is important in relationships

In any relationship, money is a very sensitive and contentious subject. It was once customary for couples to avoid talking about money during the early stages of a relationship.

Although this may not be the case, many people have stuck to this guideline and as a result, have avoided talking about money in their relationships until it became a serious problem.

You need to discuss money with someone to determine whether you are compatible in a relationship.

In any partnership, financial compatibility is a critical metric to take into account. When it comes to partnerships, people make sure that their values, interests, and aspirations line up, but their financial compatibility has been overlooked. But since money is said to be the reason for 20 to 40 per cent of relationship breakdowns, this has a big impact on the longevity and quality of their union.

Why finances are important 

It is sound and logical to state the obvious that money answers all things and makes the world go round. It pays the bill for groceries and food, pays for romantic dinners, and pays for the wedding arrangement that makes holy matrimony possible. 

While they live together, it ensures their safety in the future. But money is the driving force behind all we do in life. A relationship may end due to reasons other than love and feelings for one another, such as a lack of money or a quarrel about money. Once more, it is reasonable to state that a number of broken relationships are the result of issues with money, either a lack of it or disagreements over it. 

This demonstrates that the source of all evil is love and an unchecked fixation with money. As a result, discussing financial compatibility in a relationship before getting married becomes essential.

Also Read: 5 ways to keep the spark alive in your relationship

What is financial compatibility?

After discussing the many uses of money, let’s explore the definition of financial compatibility. In terms of relationships, financial compatibility is defined as having similar opinions, viewpoints, and financial objectives as well as a shared understanding of the value of money and all financial issues. To be financially compatible is to be in alignment with your partner throughout the relationship in a way that makes it possible for you to coexist peacefully.

It has to do with reaching a consensus regarding the allocation of funds and their priorities.

When two people have similar finances, their relationship can become easygoing and frictionless. Conversely, the majority of relationships are not preexisting; rather, they are developed through intentional communication between the two parties involved. 

This applies to money issues as well. 

It’s important to bring it up, have a conversation about it, share your viewpoint, hear the other person out, and ultimately reach an amicable agreement.

How financial compatibility can be achieved in your relationship

According to experts, financial compatibility is more about communication than anything else. Before you can establish a red flag, you first initiate the conversation about money. Even if your views differ, it’s good you know them, establish the facts, and eventually come to a reasonable compromise. Financial compatibility is not about stressing disagreements in conversations but coming to a mutual compromise and alignment.

Here are some of the ways to know your financial compatibility in any relationship

1. Discuss how much money you intend to save, and for what purpose 

As couples in relationships, you must agree on how much to be saved, whether for the short term or the long term. Also, the goal must be clearly stated. And as expected, there might be some objections to the other. You must settle the differences and come to a compromise 

Also Read: Why women lie about their virginity in relationships

2. Talk about your debts and how you intend to pay them

In relationships, you must be open about your debts to your partner. Let him or her know why the debt is in the first instance, and together discuss how to pay them off.

3. Discuss your shopping and spending behaviour

This is very important. While individual taste differs, you must agree on how much to spend, how to spend it and where to spend it. You must also agree on the things that are indispensable and must be prioritized. It’s more of a mutual understanding and the ability to come to a reasonable compromise is what financial compatibility is all about 

4. Be sincere and quick to talk about bad financial habits like gambling and impulse buying

Gambling and impulse buying could be major red flags in relationships. It must be avoided at all costs. If it is a concern in your relationship, then you must talk about it, take decisive action about it, and with the help of the other, put an end to it.

Also Read: 7 ways spouses can build stronger relationships

5. Decide within yourselves the option of a joint account or a separate account for savings and spending

There are no rules to this. As one in a relationship, you must decide between your partner which is best for you. Whether to get a joint account or an individual account. However the options may be, it’s all about trust and sincerity.

6. Discuss expenses and budget

At the end of the day, it must come back to keeping the books. Financial compatibility also has to do with being able to budget money together and keeping an eye on every expense. 

7. Discuss investment choices and priorities 

 You must discuss your investment choices with your partner, and make sure you agree on your choices and priorities 

8. Discuss your financial obligations to relations and come to a compromise 

This is very important. As couples, you have a financial obligation to your families. However, you must be clear on the amount you intend to spend on your family. This must be discussed, and you must come to a mutual agreement in this regard 

Also Read: Why do single women find married men attractive for relationships?

9. Talk about retirement plans

Discussing retirement plans in a relationship is an indicator that the relationship is heading somewhere. 

It must be carefully discussed and agreed upon. 

Also Read: How to say ‘No’ to sex with your partner without hurting your relationship

Conclusion

We all need to have a strong anchor in our relationship.

While love and true companionship are the premises of any relationship, the neglect of this very important aspect of our relationship may bring it to ruin, as it has done to many. 

Love alone is not a yardstick and proof that a relationship will be secured.

So seek to know everything about your partner, seek to resolve the difference and come to a peaceful compromise. This should be taken seriously, especially when it comes to matters of finances.

You must talk about the money, and look out for some red flags that must be addressed and reconciled together.

You and your partner should come to a consensus when it comes to budgeting, spending, investment and saving.

When you are compatible in this regard, the love and affection will continue, trust will soar, and a long and lasting relationship becomes inevitable.

8 Most technologically advanced cities in Africa

Adetunji Matthew
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0
8 Most technologically advanced cities in Africa

Do you know that as it stands today, Africa remains the centre of all focus and discussion on the future of our planet?

This is a testament to the fact that Africa holds great promise as the destination of the next iteration of urban growth and it’s projected that by 2035, the population of Africa alone will be about 4 billion and more.

In light of this revelation, many cities across Africa have been racing to become the most advanced cities in the world.

However, in terms of technology and innovation, many African cities are still above the radar due to the numerous problems and challenges in terms of incorporating the latest or novel technological advancement. Africa is still far from creating research habits like the research and development hubs that are common across advanced cities all over the world.

Notwithstanding, in recent times some of our cities have been able to measure up in terms of technological advancement and are on par to rank among the world’s smartest and most technologically innovative cities.

This article talks about the giant stride some of these African cities have made to become one of the most advanced cities in the continent and have gained such global recognition.

Most technologically advanced cities in Africa

1. Cape Town, South Africa

Although Cape Town is considered one of the smallest places in Africa, this South African city has planned to introduce cutting-edge technologies and it’s home to well-established tech hubs. It’s the second-largest city in South Africa with a population of over four million people 

The city is beginning to see the start of future innovations like the  IoT, artificial intelligence, and better utility of the vast amounts of data available to the city.

Also, Cape Town is the place for some of the largest financial institutions in South Africa, making it a home to the nation’s innovative fintech industry. It also has one the highest number of accelerators in Africa, having more than sixteen co-working space 

Also Read: 10 Most economically friendly cities in Ghana

2. Cairo, Egypt

In Africa, Cairo is currently the most developed metropolis, with a population of over nine million people.

Cairo has become a major tech and innovative hub in Africa. The city has a growing number of startups, and the government has been so supportive of this tech advancement, implementing policies and initiatives that have encouraged Growth and development.

Cairo is also home to some notable tech companies such as Instabug, and Vegeta, among others.

3. Johannesburg, South Africa

Johannesburg is the largest city in South Africa, and also one of the major key players in the tech space in Africa.

This South African metropolis serves as Africa’s economic centre and boasts a sophisticated transportation network, a top-notch airport, and state-of-the-art motorways.

The city has a well-established infrastructure and hosts several multinational technological companies in Africa.

The tech advancement of this city spans several sectors like fintech, renewable energy, e-commerce and telecommunication.

It can be said that Johannesburg is a blend of cooperative innovation and entrepreneurship. This is the reason the city has witnessed such progress in the southern region of Africa.

Also Read: List of countries needing foreign talents in the tech sector

4. Nairobi, Kenya

Kenya’s capital city is this one. This city is one of the ones in Africa that has made significant investments in technology and innovation. It also serves as the headquarters for other international organizations, such as the United Nations Office for the African continent.

Because so many creative and technology-related businesses have been founded in Nairobi, the city is referred to as the “silicon savanna.”

5. Kigali, Rwanda 

This beautiful Rwanda City is situated between rolling hills, in a series of valleys. This was the main reason why this smart City was recently nicknamed the Silicon Valley of Africa. Kigali boasts of smart infrastructures like sensors around the city that monitor power grid safety, measure air quality, and detect water leaks.

The chief aim of this smart and innovative city is to improve the quality of life in the city. Also, the objective goal of Kigali is to bring into the nation the brightest minds in technology and innovation all over Africa.

The technology and innovation strides that are witnessed all around this city are bringing a new, positive narrative, fostered by a new generation of vibrant and young entrepreneurs, tickling with mind-blowing ideas.

Also Read: 5 Largest technology companies in Africa (2024)

6. Lagos, Nigeria 

Nigeria’s most technologically sophisticated and populated city, Lagos, serves as the nation’s economic hub. Furthermore, the city is among the most innovative and technologically advanced in all of Africa.

In addition to housing several global firms, Lagos boasts a strong and vibrant IT sector.

Lagos is undergoing a technology revolution with AI integration both in the tech sector and also in some aspects of Lagos’ food tech. Lagos by all estimation is already a megacity and has been able to incorporate some of these world-class innovations and technologies into its systems. A notable example is Itana. Itana is a city just for startups in Lagos.

Also, Lagos as a city has initiated several smart innovations, like a mobile app that allows residents to report issues related to public services and a smart transportation system.

7. Tunis, Tunisha 

Tunis is the capital of Tunisia. It’s one of the major economic centers in North Africa. Tunis  has made  several smart initiatives, including a smart transportation system and a mobile app that allows residents to report issues related to public services

Tunis also boasts of well-developed infrastructures and a modern airport.

Tunisia aims to become an economic hub in 10 years. To make this goal a reality,  the city has initiated a new strategy that includes a digital governance and e-commerce model.

8. Konza, Kenya

Konza is an example of a smart and technologically advanced city that was built from scratch.

This city doesn’t have to deal with inherited setbacks or any social challenges.

The goal of Konza Technopolis organization is to become a world-class city, driven by information, communication and technology, with superior infrastructure, and innovation-friendly governance systems.

Konza has a data centre that caters for anything a smart city requires.

The city is well connected with Wi-Fi and has Internet provided within it, to make sure every resident is well-crafted with one another.

Also Read: 10 websites that pay you to answer questions (2024)

Conclusion 

Africa as a continent is poised to become the next focus in urbanization. The parameters are enough to support this claim. In the next couple of years, Africa will be the most populous continent in the world, with much of this population being an active and vibrant workforce.

Also, most African cities have begun to become renowned for their advancement in technology.

Smart cities are emerging across Africa. Such cities like the Park which is a self-sufficient city in South Africa, which is being developed and funded by Urb. The Park when completed will be able to generate 100 percent of its water, energy and food.

Africa is indeed becoming a technological hub, and as I said earlier, the world is turning back to Africa for the next technological and human advancement.

Africa will become the choicest continent to test the fourth industrial revolution.

6 Financial literacy lessons you won’t learn in school

Adetunji Matthew
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0
6 Financial literacy lessons you won’t learn in school

Financial education is a very important aspect of our education. Unfortunately, our educational system has robbed us of this very important aspect of our lives. And while the school has made it compulsory to teach subjects like mathematics, English, and other subjects as the basis for success in life, they have neglected the very and most important parameters for success.

Financial literacy is a must for everyone who wants to be successful financially. And if you need this type of education, you must look outside the four walls of conventional schools, because it’s not taught there.

This article deals with the core of money education you may never have heard about, because it’s not taught in schools.

Why you need financial knowledge

Financial education has to do with your ability to grasp and effectively use various financial skills, from budgeting and knowledge-based saving to debt management and retirement planning.

Financial literacy equips you with the understanding needed to make informed decisions, leading to greater monetary freedom, less stress, and a better quality of life.

Financial literacy empowers you to take control of your finances and navigate the challenges and opportunities that arise

Conversely, low financial literacy threatens your financial well-being and that of your family. Without a sound financial education, you will be more susceptible and prone to predatory lending and costly errors in managing your finances and expenses that can lead to lifelong financial deficit and ultimately low quality of life.

When you lack financial knowledge, you are more likely to become trapped in cycles of poverty and debt. 

For example, poor spending habits and unwanted borrowing habits often lead to a frustrating end.

Now let’s talk about some of these lessons and insights that will help you to make informed choices when it comes to financial matters.

Also Read: Steps to gain financial independence from parents

6 time-tested financial lessons you won’t learn in school

1. To make more money, you must love money and talk about it often

I know this is contrary to popular opinion, but the truth is that those who are wealthy are those who are money-conscious. They talk about money, they think about money and they see money everywhere. This is very simple and at the same time very logical.

By the law of attraction, you become attracted to what is dominant in your mind, what you always see and talk about. This is a very important rule of money and life generally. So deliberately think about wealth, talk about abundance, and never in any circumstances think about lack or even confess it.

This seems so basic, but it is the root of all lasting wealth and prosperity. And of course, you were never taught in school. 

2. Saving for the short term is good, but saving for the long term is bad

People save for several reasons like buying furniture, rent, and other short-term concerns.

However, saving for the long term or retirement may be wrong for several reasons.

One major reason why this may not be a wise decision is because of the high rate of inflation and currency depreciation.

For example in Nigeria, the inflation rate from 2020 to 2024 alone is almost 80 percent. And the Naira has depreciated more than more than imagined. For one saving for the long term, it becomes so unreasonable to do that, because, in the end, the value of what you have saved would have amounted to nothing. The worth of a million Naira in 2020 is now about 200 thousand naira.

Rather than saving for the long term, you should invest for a long term

Also Read: 6 Ways to improve financial literacy

3. Have a budget and track all your spending and expenditures

It takes financial discipline to be rich. This testament is true. It takes such a level of discipline to track all your spending and expenditures. This is important as it allows you to know whether you have exceeded your budget or not. 

Tracking your expenses helps you to become mindful of what you spend your money on. And without a budget, everything becomes a surplus. You see yourself spending without a boundary only to realize you have exceeded your financial threshold.

4. Know the difference between assets and liabilities

Most people don’t know assets and liabilities, and they can’t differentiate between the two. Hence they end up prioritizing liabilities over assets, which will ultimately lead to financial failures in the long run.

Assets are things you buy or own that appreciate with time, while liabilities are things you buy or own that depreciate with time. While building a house is an asset, buying a car for luxury is a liability. Investing in yourself on the other hand should be your greatest asset. This means you must take the discipline to invest your finances in knowledge, equipping yourself with the relevant skill set, and necessary education, especially financial education.

On the other hand, going for luxuries and other wishful spending can be termed as liabilities, as they will amount to nothing in the long run 

Also Read: How to pay off debt and earn financial freedom

5. Know the difference between bad debt and good debt

When you get a loan to build a house, that is a good debt, while getting the same loan to get a personal car may be termed bad debt. Bad debt is a loan spent on liabilities, while good debt are loan spent on assets.

Knowing the difference will help you make informed choices on how you spend your borrowed money. The fact remains that it is never wrong to get a loan. But it is wrong to spend that loan on liabilities. Most individuals and corporate entities get loans for their businesses and it will interest you to know that most corporations do that. 

6. Get a Job, but becoming an entrepreneur is better 

While school and society will teach and empower you to get a job, it’s better when you become an entrepreneur.

There is nothing wrong with getting a job, but you must strive to be an entrepreneur, be it on a small scale or a larger scale.

The truth must be told that inflation only affects salary earners, whose earnings are fixed, no matter the inflation.

So taking Nigeria as an example, while the salary earners are groaning for the spike and increment in price of goods and services, the entrepreneurs are adjusting their selling prices to accommodate for the inflation.

So, inflation has little or no effect on the entrepreneur. Of course, inflation causes a decrease in demand, which ultimately may affect their sales, but on a broader view, the average entrepreneur increases the cost of his goods and services to reflect the current economic situation, while the salary earners are at the mercy of their fixed income irrespective of the current economic situation 

Also Read: Do I need a personal financial advisor?

Conclusion

Financial literacy will save you from the errors of the naive and uninformed as regards your finances. In this vain, I must state that investing an amount of money or budgeting an amount of money annually for your financial education is a great and wise investment.

While you may agree with me on the aforementioned, I need you to take action now on these very six concepts I have exposed you to. And if in any way you have been complicit, and misunderstood any of those concepts, then it is high time you make the necessary adjustments now.

A few years from now, you will be happy you did.

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