Africa Connected

Making people profitable

Established in 1992, the Nigerian business and management consultancy firm has supported every sector in the Nigerian economy for over twenty years. Dubbed one of the leading African economies, Nigeria’s rich history exists purely because of its people and, by investing in education – ‘we invest in people’, says Foluso Phillips.

We’ve got to find a model that makes it profitable to invest in people

Foluso Phillips, Chairman of Phillips Consulting Limited

Touching on the challenges that the country is facing - power, infrastructure and a lack of a sustainable institutional model are some of the issues that need attention. Having been an agricultural-based economy about 50 years ago, answering questions about the country’s operational decline is as simple as recognising that they have ‘lost the art of adding value’ the moment the economy shifted to oil.

The essence of our competence as a nation was geared toward agriculture.

Foluso Phillips, Chairman of Phillips Consulting Limited

With the economy well on its way, the presence of oil caused the Nigerian government to limit the support needed to nurture the industrial private sector.

As a result of funding government from oil revenue, we’ve lost interest.

Foluso Phillips, Chairman of Phillips Consulting Limited

Understandably, addressing expansion, the value chain and diversifying away from an oil-dependent economy into agri-business, Phillips acknowledges that the country needs a ‘necessary delay.’

We’ve got to gradually take our time; begin to build up our capabilities; we’ll have to beg-borrow for a while but the rapid transfer of knowledge is just going to take its time.

Foluso Phillips, Chairman of Phillips Consulting Limited

As a people, Nigeria will have to learn to use their hands again and, get back into manufacturing and adding value to catch up with a rapidly moving world.

The true strength of the nation is with the people and the quality of people that we are putting out there.

Foluso Phillips, Chairman of Phillips Consulting Limited

Click here to access the Africa Connected portal or click below to watch Nikiwe's full chat with Foluso Phillips...

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Entebbe–Kampala Expressway set to ease transportation for tourists to Uganda

Entebbe–Kampala Expressway set to ease transportation for tourists to Uganda

The Entebbe–Kampala Expressway will be a major boost to Uganda's economy and infrastructural development, says Nikiwe Bikitsha.

70% of Ugandans are younger than 30 (and they’re doing for themselves)

70% of Ugandans are younger than 30 (and they’re doing for themselves)

The Money Show’s Bruce Whitfield interviews famed journalist Nikiwe Bikitsha.

With Kenyan operators dominating, Ugandan logistics sector set for disruption

With Kenyan operators dominating, Ugandan logistics sector set for disruption

Nikiwe Bikitsha visits Markh Investments to hear about infrastructure development and logistics opportunities in Uganda.

Uganda wants its oil to benefit locals

Uganda wants its oil to benefit locals

Nikiwe Bikitsha says Uganda is working towards ensuring that locals benefit from the country's economy.

The East African Rift System could still turn out to be Uganda's spring of life

The East African Rift System could still turn out to be Uganda's spring of life

Vast oil and gas reserves hold great promise, pending exploration along Uganda's Western border with Democratic Republic of Congo.

Uganda spends $2.5 billion on hydropower (only 10% of that goes to locals)

Uganda spends $2.5 billion on hydropower (only 10% of that goes to locals)

The Money Show’s Bruce Whitfield interviews famed journalist Nikiwe Bikitsha, who is on a fact-finding mission in Uganda.

Popular articles
Last chance for Spur's 2-for-1 burger special this Monday

Last chance for Spur's 2-for-1 burger special this Monday

Monday (March 27) is your last chance to sink your teeth into the popular burger special which Spur will discontinue from April.

Budget 2017: DA hoped for spending cuts, not tax increases

Budget 2017: DA hoped for spending cuts, not tax increases

The DA believes that raising taxes is not the answer to South Africa's economic woes and propose more cost-cutting for government.

Meet self-made millionaire (net worth – R400m!) property mogul Sisa Ngebulana

Meet self-made millionaire (net worth – R400m!) property mogul Sisa Ngebulana

How did Ngebulana build his empire? The Money Show’s Bruce Whitfield interviewed him for his weekly “ShapeShifter” feature.

How Naspers paid peanuts for Tencent (China’s most valuable company)

How Naspers paid peanuts for Tencent (China’s most valuable company)

In 2001 Naspers invested $32 million in (then tiny) Tencent. Learn more about the wildly profitable Chinese behemoth...

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?

5 reasons why the tourism industry is sceptical about the latest numbers

5 reasons why the tourism industry is sceptical about the latest numbers

The tourism industry is questioning the veracity of the surprisingly upbeat tourism figures and the timing of their release.