Cloned Nigerian Anchor

Author: Chike Ozohili

  • Communication Ministry Targets $5bn Funding For Tech Startups By 2027

    Communication Ministry Targets $5bn Funding For Tech Startups By 2027

    The Minister of Communications, Innovation and Digital Economy, Bosun Tijani has said that regulatory tools will be used, not only to increase investments but also attract up to $5 billion in funding for Nigerian tech startups by 2027.

    Tijani noted that by providing an enabling environment, innovators and entrepreneurs would be encouraged to develop unique solutions that would drive economic growth.

    The Minister revealed this at the unveiling of a document titled, ‘Accelerating our Collective Prosperity through Technical Efficiency: A Strategic Plan for the Federal Ministry of Communications, Innovation & Digital Economy’ Monday in Abuja.

    The document has five priority areas which includes, Knowledge; Policy; Infrastructure; Innovation, Entrepreneurship and Capital and Trade.  

    The document reveals, “For this 4th pillar, our primary objective is to stimulate the growth and sustainability of startups, with specific focus on those developing innovative solutions for critical
    sectors in our economy. Increase capital raised by Nigerian tech startups 50% year-on-year from $1bn/yr in 2022 to $5bn/year in 2027.”

    Another target the Ministry has for tech startups is to increase domiciliation of local technology startups from less than 1 per cent to 25 per cent by 2027.

    The document said, “We will establish an active sandbox environment that encourages and empowers innovators and entrepreneurs to develop unique solutions for sectors historically considered to have limited exposure to technological innovation.

    “By removing regulatory barriers and providing the required support, we aim to inspire innovative, problem-solving approaches to existing challenges.

    “With the goal of supporting the diversification of the Nigerian economy, we will collaborate with other ministries and parastatals including private sector stakeholders to drive opportunities for startups to facilitate the application of technology for enhanced productivity in critical sectors across the country. We will back programmes focused on AgriTech, HealthTech, EdTech, MediaTech, CleanTech, CreTech, among others.

    “Identify opportunities for the digital economy in various sectors such as Agriculture, Financial Services, Healthcare, Education, Energy, Transportation and Logistics, Manufacturing, Retail and E-commerce, Textiles and Fashion, Media and Entertainment, eSports/Gaming, and Real Estate.”

  • Safety Violation: HEDA Petitions Police, Wants Probe, Sanction Of Max Air

    Safety Violation: HEDA Petitions Police, Wants Probe, Sanction Of Max Air

    The Human and Environmental Development Agenda (HEDA Resource Centre) has petitioned the Nigeria Police Force against Max Air, citing grave concerns over the endangerment of lives due to reported safety violations.

    This move comes in the wake of Max Air’s purported presentation of altered records to the Nigerian Civil Aviation Authority (NCAA) and its alleged engagement of unauthorized engineers in aircraft servicing.

    Max Air was suspended after one of its aircraft crash-landed at Nnamdi Azikiwe International Airport in Abuja on May 7, 2023. The incident imperiled the lives of more than 143 passengers on board

    In a petition signed by HEDA’s Chairman, Olanrewaju Suraju, addressed to the Inspector General of Police, Dr. Kayode Egbetokun, the CSO detailed the findings of the NCAA audit, which was conducted between July 17, 2023, and July 20, 2023. The audit exposed a litany of safety deficiencies within Max Air’s operations, ultimately resulting in a second suspension.

    “HEDA therefore unequivocally calls for a thorough and exhaustive investigation into these allegations, as well as appropriate legal actions against the management of Max Air Ltd,” it said, in the petition.

    The comprehensive 11-page audit report and accompanying correspondences revealed a staggering 27 critical safety issues observed within the airline’s fleet under scrutiny.

    “These issues encompassed a wide range of concerns, including but not limited to: Alleged submission of altered records to the NCAA, coupled with the failure to replace life-limited components in accordance with regulations, and absence of substantial evidence to defend the airworthiness of recently installed landing gears on one of Max Air’s aircraft.

    “Other breaches are: documentation of incorrect maintenance practices, notably following a bird strike incident; the engagement of unauthorized engineers in performing maintenance tasks; neglect of mandatory duplicate inspections following pivotal tasks; ineffective management of Airworthiness Directives for the entire fleet; shortcomings in the qualifications of Non-Destructive Testing (NDT) personnel; and non-compliance with established procedures for ensuring the efficacy of the Aircraft Maintenance Program.

    “These serious findings highlight a pattern of disregard for safety regulations and standards by Max Air, putting the lives of air travelers at risk.

    HEDA strongly urged the Nigeria Police to conduct an exhaustive investigation into the contents of the NCAA audit report and to take action.

  • BUA Slashes Cement Price To N3500 Per Bag

    BUA Slashes Cement Price To N3500 Per Bag

    From Monday 2nd October, 2023, Nigerians would buy a bag of BUA Cement for N3,500 from the N5,700 that it was previously sold for. 

    A statement signed by the management of the company Sunday, the reduction in price is keeping with its promise of bringing down the price of the commodity when it completes its production line. 

    BUA Chairman Samad Rabiu, at the company’s Annual General Meeting has told journalists that Nigeria would see a reduction in the price of cement by January when its production line is complete. 

    However, the reduction in price is coming few months earlier that the BUA Cement Chairman said. 

    “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year in order to spur development in the building materials and infrastructure sectors.

    “As per the commitment made to reduce prices and following a periodic review of operations for efficiency, the management of BUA Cement Plc wishes to announce to our esteemed customers, stakeholders, and the public that effective October 2 2023, we have decided to bring the price reduction forward. As a result, BUA Cement would now be sold at an ex-factory price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.

    “Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC, tends to review these prices further in line with our earlier pronouncement by the first quarter of 2024.

    “All pending, undelivered orders which had been paid for at the old price will be reviewed downwards to N3500/bag in line with the new pricing fro October 2, 2023. Our licensed dealers are also enjoined to ensure that end-use benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance,” the statement read. 

  • Nigeria @63: Soludo Renames Anambra Cargo Airport After Chinua Achebe

    Nigeria @63: Soludo Renames Anambra Cargo Airport After Chinua Achebe

    Governor Chukwuma Soludo of Anambra State has renamed the state’s International Passenger and Cargo Airport after late Chinua Achebe, a novelist, to immortalise him for making an indelible mark on the history of human civilisation.

    Achebe was a native of Ogidi in Idemili North Local Government Area of the state and died on March 21, 2013 at the age of 82, in Boston, Massachusetts.

    Soludo said this on Sunday in Awka at the Independence Day parade to mark Nigeria’s 63rd anniversary, describing Achebe as an example of Africa’s unsung hero.

    “Achebe, a Nigerian novelist, poet, and critic, gave the African literature an identity and a voice and he rightly reconstructed and refined the identify of the people,” he said.

    The governor said that Achebe was not just an Anambra hero nor a Nigerian hero, but an African and global hero and yet largely unsung at home.

    He said that henceforth, the state shall be deliberate in fishing out and celebrating its largely unsung heroes as motivation to children and youths.

    “Unfortunately, some people wrongly think of legacies in terms of brick and mortar. Legacy is about impact on human life and human civilisation.

    “Achebe was not a president or governor or military. He did not build bridges or roads or airports but he will outlive most presidents, governors and ministers in our minds.

    “Achebe rejected Nigeria’s national honours twice in protest against what he perceived as injustice to his home state Anambra. Today, Anambra will finally honour him.

    “After wide consultations, there is a broad consensus that no one is more deserving to be named after the first airport in Anambra than Anambra’s all-time greatest literary gift to the world, Chinua Achebe.

    “Consequently, we will rename the Anambra International Cargo and Passenger Airport, Umueri, to Chinua Achebe International Airport, Umueri.

    “Yes, it has to be an international airport, and we hope to work with the Federal Government to give full effect to its international status,” he said.
    Soludo urged Nigerians to be intentional about making the project Nigeria work and believe in the potential greatness of the country.

    “We have muddled through the past 63 years with squandered opportunities and yet with the promise of potential greatness

    “No country or nation is a perfect. Every nation continues to struggle in its match to a more perfect union. The path to stability, growth and sustainability will be challenging as there are no quick fixes.

    “But all of us must collectively think and work Nigeria out of the current challenges. We have no other country but Nigeria, and we must make it to work for everyone, “he said.

    The governor said his administration was founded on the true progressive agenda and would continue to create the enabling environment for residents to thrive and survive.

    The police, paramilitary organisations and students from different schools took part in the parade.

  • Katsina Varsity Suspends 6 Students Amid Allegations Of Colleague’s Murder

    Katsina Varsity Suspends 6 Students Amid Allegations Of Colleague’s Murder

    The Federal University Dutsin-Ma (FUDMA), in Katsina State has suspended six students over the alleged murder of a 200-level student of the institution.

    This was disclosed in a statement issued by Malam Habib Aminu-Umar, the spokesperson of the university and made available to newsmen in Katsina on Sunday.

    The State Police Command had earlier announced the arrest of six students of the university in connection to the death of Abubakar Nasir-Barda, a 200 level-student.

    “The management of the University on behalf of its Senate, staff and student is deeply saddened, concerned and highly regrets the unfortunate incident involving some of its students.

    “It led to the sudden death of a 200-level Computer Science and Information Technology, from an unfortunate altercation over a female student.

    “The University Management has been up and doing since the occurrence of the unfortunate incident to ensure justice is served to all.

    “The management upon getting wind of the incident swiftly constituted an Interim ad-hoc committee to look into the case and feed management on development as they unfold,” he said.

    According to him, a preliminary report submitted to the management on Sept. 30, by the committee revealed that the unfortunate incident occurred outside the university’s campus.

    “But upon receipt of information, the university’s security were quickly mobilised to the scene for prompt intervention that halted further altercation between the students and apprehension of some students involved.

    “The matter has already been taken over by Police, which led to the arrest of six students that are in connection with the incident as confirmed by the Police official press statement,” Aminu-Umar said.

    According to him, the ad-hoc committee’s interim report had equally recommended the University Management to invoke session 5.5(a) Of the University Academic Policy by suspending all the six students involved in the matter pending the outcome of the police investigation.

    “Which the management has approved by suspending indefinitely all the six students involved,” the university’s spokesperson revealed.

    He said that while the police investigation was ongoing, the university management was assuring the public, particularly the university community that no stone shall be left unturned in ensuring justice was served.

    Aminu-Umar further disclosed that the university management prayed for the repose of the soul of the deceased.

  • Independence Day: Shelve Planned Strike, Nasarawa Speaker Begs NLC, TUC

    Independence Day: Shelve Planned Strike, Nasarawa Speaker Begs NLC, TUC

    The Speaker, Nasarawa State House of Assembly, Alh. Ibrahim Abdullahi, has appealed to the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) to shelve their planned indefinite strike for the overall development of the country.

    The call is contained in a statement issued by his Chief Press Secretary, Mr Jibrin Gwamna, in Lafia on Sunday.

    Abdullahi said that the strike would affect the socio-economic activities of the country negatively, hence the need for his appeal for more time and realistic dialogue.

    “I want to appeal to the leadership of the NlC and TUC to shelve their planned strike in the interest of peace and for the overall development of the country,” he said.

    The speaker appreciated Nigerians for their loyalty and support to the government since independence in the country.

    Abdullahi said that the progress and development achieved so far in the country was as a result of citizens loyalty and support to both the past and present governments in the country.

    The speaker congratulated all Nigerians at 63 and Nasarawa state at 27 on the successful Independence Day celebration and wished them more fruitful years ahead.

    “I want to appreciate our founding fathers for ensuring that we got independence in the country.

    “Since we got independence in the country, so far so good, the country is progressing and is moving forward despite our challenges, we are not stagnant as a nation and as a state,” he said.

    The speaker also urged Nigerians to use the Independence anniversary and reflect on the sacrifices of the nation’s founding fathers.

    He called on all and sundry to strive towards ensuring that the labour of the nation’s founding fathers were never in vain by contributing positively to the development of the country.

    Abdullahi also called on Nigerians to continue to pray for the nation’s unity, peace, progress and development.

    Besides, he urged the people of the state and Nigerians to support President Bola Tinubu, Gov. Abdullahi Sule and other leaders to succeed.

    “I want to call on Nigerians to continue to pray and support President Bola Tinubu, His Excellency Gov. Abdullahi Sule and other leaders to succeed.”

    The speaker further appealed to Nigerians to continue to remain law abiding, respect constituted authorities and live peacefully with one another for development to thrive. 

  • Inadequate Infrastructure, Bane Of e-Payments in Nigeria -Fintech Experts

    Inadequate Infrastructure, Bane Of e-Payments in Nigeria -Fintech Experts

    Experts in Nigeria’s Fintech industry have said that the major challenges facing electronic payments in Nigeria is the inadequacy of infrastructure, including operational and telecommunications facilities, as well as reliable electricity supply.

    They opined the need for stakeholders in the financial industry to work together and extend e-payments channels across the country as well as finding solutions to the growth of fraudulent activities in the system.

    Chief Finance Officer Parthian Partners, Yinka Arewa while making presentation on the “Collaboration, Key to tackling challenges facing E-PAYMENT System in Nigeria, said many e-payment systems depend on stable power sources and robust IT infrastructure, such as laptops, mobile phones, POS terminals, and dependable internet connectivity. 

    He said during the period of cash scarcity earlier this year, banks faced unprecedented e-payment failures, prompting the urgent need for technological infrastructure upgrades. 

    He said the failure of e-payment channels on such a scale compelled customers to wait for banks’ networks to stabilize before completing their transactions while the FinTech companies, initially considered a lifeline, also encountered challenges due to increased pressure. 

    He pointed out that the recent events, such as the implementation of the cashless policy following the Naira redesign late last year/early this year, highlighted the challenges associated with the country’s transition to a cashless economy

    He said the issue of failed transactions has persistently affected numerous businesses reliant on electronic payment systems. 

    He stated that the rapid growth in financial technology has broken down geographical barriers, introduced innovative approaches, and ushered in numerous advancements, but at the same time has exposed us to unprecedented risks, including cybercrime.

    He pointed out that cybercrime poses severe societal and economic consequences, ranging from facilitating corruption, money laundering, and military espionage to terrorism, all of which undermine technological and socio-economic development. 

    Speaking further, he said Cybercrime’s impact on customers is substantial, as everyone desires the safety and security of their hard-earned money. Trust is the linchpin of finance, and no one wishes to witness their funds vanish. Security concerns stemming from electronic fraud and cyberattacks are real. The automated nature of payments without direct interaction between the payer and payee renders e-payments vulnerable and with the proliferation of digital financial activities, cyber threats are expected to rise”

    But despite all these challenges, he said In 2022, Nigeria unlocked $3.2 billion in additional economic output through the development and utilization of electronic payments, particularly real-time payment services. 

    “Electronic payments continue to attract substantial global investments and have exhibited the highest returns and growth within the sector over the past decade. 

    Indeed, Nigeria has witnessed a remarkable digital transformation, with over 100 million active mobile phone users as of 2023.

    “This statistic signals the advent of a fully digitized financial services sector. However, despite these advancements, Nigeria’s payment system predominantly relies on cash.” 

    Managing Director, Nigerian Inter Bank Settlement Systems (NIBSS), Premier Oiwoh, called for stakeholders’ partnership to extend e-payment channels across the country. 

    He said that such partnership will, in addition to wider coverage, help to checkmate abuses, dispense errors, instant resolution of errors as well as update technological resources in delivering first-class e- payment across the country. 

    Oiwoh who was represented by the Divisional Head, Enterprise Support NIBSS Bola Onigbokan, said: “Collaboration is mandatory; it is not a choice, adding that as we have gathered here doing our workshop planning how to move forward, the fraudsters are also brainstorming and strategizing on how to operate and often times, they are even ahead of us. I think that is even why we are even having this discussion today.”

    He assured Nigerians that the national payment infrastructure of NIBSS, owned by banks, were committed to ensuring seamless transactions, customer protection, and the improvement in technologies driving e-payment systems.

  • 60.3% Nigerian Telecom Subscribers Still Use 2G —NCC 

    60.3% Nigerian Telecom Subscribers Still Use 2G —NCC 

    *4G Users Stand At Just 22%

    60.3% Nigerian Telecom Subscribers Still Use 2G —NCC 

    The Nigerian Communications Commission (NCC) has revealed that as at August 2023, 60.3 per cent of telecoms subscribers in the country are still on 2G.

    The telecom industry statistics further show that 10 per cent of the over 220 million subscriptions were on 3G, a higher generation of network launched in Nigeria in 2007.

    3G ushered in the use of video calls and had significantly higher data transfer, operating at a speed of up to 2mbs, and increased bandwidth compared to the 2G network.

    3G is the third generation of wireless mobile telecommunications technology which was first rolled out commercially in mid-2001 and was an upgrade over the 2G, 2.5G, GPRS, and 2.75G networks.

    According to the Commission, subscriptions for 4G, which the operators started rolling out in 2016 still stood at 28 per cent as of August, while the latest technology launched in 2022 accounted for 0.83 per cent of subscriptions in the country.

    While the operators said they have achieved over 80 per cent of 4G coverage, the slow pace of migration by subscribers is attributed to device constraints.

    Recently on the back of the company’s acquisition of a 3G license, the Chief Technical Officer of MTN Nigeria, Mohammed Rufai, also pointed out the fact that many Nigerians are still on 2G and 3G. “So, while we are investing in new technology, we must also maintain the other technologies that are needed by the people that use them and the people that don’t yet have the devices for the newer technologies.

    This is the reason why we are still investing in and expanding on the old technologies, and also because the spectrum, the license allocated by NCC, and the network resources that are used for 3G can also be used on other technologies in the future, so the investment is still usable for the higher technologies when the devices are ready.”

    Globally, the expansion of 5G has pushed internet service providers like AT&T and T-Mobile to shut down 3G services earlier in 2022, and most recently, Verizon and Vodafone have notified customers that they intend to cut off 3G-enabled devices from their networks from December 2022 and December 2023 respectively.

    At the moment, it has been succeeded by the launch of 4G, 5G, and most recently, a test run of 6G in China which is a super upgrade to the service.

  • Plastic Wastes In Drainages, Waterways Cause Of Flooding In Benin –ERA/FoEN

    Plastic Wastes In Drainages, Waterways Cause Of Flooding In Benin –ERA/FoEN

    The Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) has urged the Edo State government to compel Coca Cola Company, Seven Up Bottling Company and other producers of plastics to engage in Extended Producer Responsibility (EPR) by taking responsibility for the plastic waste they produce.

    According to ERA/FoEN, the flooding experienced in Benin City and its environs is fueled by plastic waste materials that have found their way into the drainage systems and waterways.

    A statement by ERA/FoEN’s Communications Officer, Elvira Jordan, at the weekend, noted that the statement was the highpoint of a Return-To-Sender Action protests by ERA/FoEN and other groups in Benin City.

    The exercise was in collaboration with Zero Waste Ambassadors (ZEWA), Edo Civil Society Organization (EdoCSO) and Students Environmental Assembly of Nigeria (SEAN), University of Benin Chapter.

    The statement states that the exercise was targeted at determining the highest polluting brands. Coca Cola and Seven Up came up as the highest polluters, with a frequency rate of 33% and 23% respectively.

    Speaking during the action, the Executive Director of ERA/FoEN, Chima Williams, represented by Babawale Obayanju said the flooding in Benin City and its environs is aggravated by the plastic waste materials that have found their way to drainage systems and waterways.

    He added that statistics clearly show that the identified companies are making lots of money and are equally contributing heavily to the plastic waste menace in Benin, without any waste management systems in place.

     “We brought their plastic waste back to them as it is polluting our environment and based on our findings during the brand audit, The Coca-Cola Company, Seven Up Bottling Company and others primarily use plastics for their packaging, including PET bottles with plastic caps.

    “It is very crucial for these companies to design and develop a take-back or withdrawal scheme for their products as there are no active withdrawal schemes currently in place. Implementing the take-back/withdrawal schemes and exploring circular economy models can enhance recycling rates and reduce plastic pollution.”

    “We also request that The Coca-Cola Company and the other brands should have a squint at further research and development into eco-friendly packaging materials, collaborate with recycling partners, and engage with consumers to achieve its plastic reduction targets and contribute to a cleaner environment”, he stated.

    He called on Coca-Cola Company, Seven Up, CWAY Group and others to transition to sustainable packaging alternatives such as biodegradable materials, reusable containers, or reduced plastic packaging

    Also speaking, Project Officer, Waste Management of ERA/FoEN Melody Enyinnaya said the plastic pollution experienced in Benin City was appalling as manufacturers continue to produce without retrieving their waste.

    “This situation has thrown our environment into a dumping ground for plastics, especially our drainage systems and our rivers,” she said.

    Eyinnaya demanded that coca cola, seven up and all other manufacturers withdraw their plastics waste from the environment “as we need fishes in our rivers not their plastics.”