Categories
Technology and Innovation

LEAD Resources Collaborates with Ogun Tech Hub to Conduct SDGs Solutions Convergence

SDGs Solutions Convergence is a programme adopted by Ogun State Bureau of Information Technology, in collaboration with LEAD Resources, to train Civil Servants from various Ministries on how to identify problems, and proffer and implement relevant solutions in their Ministries.

Two editions of the SDGs Solutions Convergence have been facilitated by LEAD Resources at Ogun Tech Hub. The Solutions Convergences covered an introduction to the Sustainable Development Goals, the application of Design Thinking in Problem Solving, and the need to leverage emerging technologies to generate relevant solutions.

Last week, a dry run of the previous Solutions Convergence was facilitated by LEAD Resources at Ogun Tech Hub. This was done to equip the staff of the Bureau of Information Technology (BIT) with the knowledge required to conduct a Solutions Convergence for the Ministry of Finance and the Auditor General’s Office. Simply put, the dry run was aimed at “training the trainers.”

Facilitator (Marcellus Nwankwo) and Participants of the SDGs Solutions Convergence Dry Run at Ogun Tech Hub

The dry run held for two days. On the first day, the participants of the dry run were reminded of what they were taught in the previous Solutions Convergence. They were given extra materials and tips for effective training. They were also taught how to carry participants along when conducting their Solutions Convergence for the Ministry of Finance and the Auditor General’s Office.

On the second day, the participants of the dry run were divided into three teams to conduct a test Solutions Convergence by themselves. By so doing, the areas for improvements were spotted for corrections. At the end of the dry run, the participants saw the need to put more effort into preparing for the Solutions Convergence for maximum output and solutions generation.

Participants of the SDGs Solutions Convergence Dry Run at Ogun Tech Hub

At LEAD Resources, we pride ourselves as solutions architects that seek to contribute to the achievement of the Global Goals by proactively identifying opportunities, stimulating innovations, and generating solutions to problems/challenges in our polity.

Connect with us to get updates on our initiatives and offerings:
Email: info@leadresources.com.ng
Facebook: facebook.com/LeadResourcesNG
Twitter: @LEADResourcesNG
Instagram: @LEADResourcesNG

AUTHOR

Oluwatobiloba Dairo is an Associate Solutions Architect at LEAD Resources, where she is exploring a rapid Knowledge Acquisition path, building digitized competencies relevant for Career Development, and stimulating solutions for individuals, organizations, and the Government. She is a graduate of Mathematics and an advocate of women in Leadership. She is interested in Financial and Data Analysis.

Categories
Entrepreneurship

Small and Medium-Sized Enterprises in Nigeria: Roles, Challenges and Solutions

There is no universal definition for SMEs (Mutula and Brakel 2006, p. 403). Across countries, SMEs are defined on the basis of employment, assets or a combination of the two (Ongori and Lutham 2009, p. 94). According to the European Union (EU), SMEs are micro, small and medium-sized enterprises which employ fewer than 250 persons and have an annual turnover of 50 million euros or less. The Central Bank of Nigeria, in her Monetary Policy Circular No. 22 of 1988, defined SMEs as enterprises which have an annual turnover of five hundred thousand naira (N500, 000) or less.

ROLES OF SMEs IN NIGERIA

Small and Medium-Sized Enterprises form the bulk of businesses in Nigeria. According to a survey conducted by PWC, SMEs contribute 48% of the national GDP, account for 96% of Nigerian businesses and create 84% of employment in Nigeria. Since SMEs drive the economic growth, industrial transformation and export growth of the nation, it is safe to conclude that they form the backbone of Nigeria’s economy. Some advantages of SMEs include:

  1. They serve as the breeding ground for domestic, entrepreneurial capabilities (SMEDAN, 2005; Aina, 2007). They provide employment and income for most citizens.
  2. They facilitate the industrial development of the nation in accordance with the achievement of the Sustainable Development Goals.
  3. They help to reduce the urban-rural income gap.

CHALLENGES FACED BY SMEs IN NIGERIA

SMEs are often faced with challenges that are peculiar to individual businesses. Certain challenges which stall their growth include:

  1. High-interest rates and maintenance costs of credit facilities as well as demands for duly registered collateral obligations.
  2. Inconsistent government policies and bureaucratic holdups in the administration of incentives and support facilities from all levels of government.
  3. Multiple taxes from both the State Government and Local Government.
  4. Poor infrastructure such as poor power supply, bad roads and poor transportation systems.
  5. Unavailability of local raw materials.
  6. High cost of procuring machinery.
  7. Import liberalization.
  8. Export constraints, amongst others.

SOLUTIONS FOR SMEs IN NIGERIA

  1. Provision of adequate infrastructure i.e. good road networks, adequate power supply, good communication and health care system.
  2. Elimination of the multiple taxation system.
  3. Tax holidays and rebates for startups which show initiative by sourcing for local raw materials.
  4. Provision of accessible and well-priced credit facilities.
  5. Effective marketing and distribution channels for SMEs through government agencies like SMEDAN.
  6. Loan availability and attainable payback mechanisms.

Seeing as SMEs are the backbone of the economy, it is expedient to devise means to increase their productivity, with or without the help of the government. Lead Resources offers programmes which educate entrepreneurs on how to access finance as well as manoeuvre the challenges that are peculiar to the Nigerian business climate. For more information, click here.

AUTHOR

Adetoyese Oyedunmade is an Associate Solutions Architect of Lead Resources. She is an Agriculturist by profession and is enthusiastic about entrepreneurship.

Categories
Entrepreneurship Technology and Innovation

LEAD Resources to Sign an MOU with Venture Garden Group

Venture Garden Group (VGG) is a leading provider of innovative, data-driven, end-to-end technology platforms created to solve real socio-economic challenges in impact sectors critical to sustainable economic development. LEAD Resources, which has a vision to be the indisputable knowledge leadership and real solutions provider out of Africa, sought to merge forces with VGG to birth more progress in the economy of Ogun state.

On the 25th of February, 2020, LEAD Resources held a meeting with the management of Venture Garden Group. In attendance were the Chief Solutions Architect of LEAD Resources, Mr. Kehinde Sogunle, the Managing Director and CEO of Highland Energy Solutions Services Limited, Dr. Sogunle, Associate Solutions Architect of LEAD Resources, Obot Essiet Jr., Associate Solutions Architect of LEAD Resources, Oyebola Simeon, CEO of kkkkk, Mr. Kingsley amongst other reputable fellows. The meeting took place at the Conference Room of Venture Gardens Group, Ikeja, Lagos.

During the meeting, the Deputy Chief Technology Officer of Venture Garden Group rendered a welcome address, briefly introducing the software company. He stated that they were in the business of converting “data to cash.” He expatiated on the services, products and achievements of the company, such as their EduTech platform, E-Health platform as well as their virtual internship programme for ICT enthusiasts wherein they are actively involved in grooming over 1200 interns.

The Chief Solutions Architect of LEAD Resources was given the floor and he discussed the various human capital development and social enterprise projects that LEAD Resources has engaged in and continues to engage in fiercely. He emphasized on how Venture Garden Group can be established and scale aggressively in Abeokuta via strategic collaboration with Ogun Tech Hub. Many opportunities were reeled out to promote the services and products of Venture Garden Group so as develop human capital on a wider scale as well as to make profit.

In conclusion, LEAD Resources, Ogun Tech Hub and Venture Gardens Group decided to collaborate, sign a Memorandum of Understanding and kick-start partnership for the greater good, human capital development.