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Business

Nigeria can become an exporting nation through indigenous entrepreneurship – Pantami

Pantami stated that Nigeria can become an exporting nation if it leverage on indigenous entrepreneurship.

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How the NCC’s Strategic Management Plan Will Drive The Digital Economy

The Minister of Communications and Digital Economy, Dr. Isa Pantami stated that Nigeria can become an exporting nation if the country can leverage on the innovations of her youths and indigenous entrepreneurship.

The Minister made this statement at the stakeholders’ Review Workshop on National Digital Innovation and Entrepreneurship Policy, tagged “Developing an Enabling Digital Innovation and Entrepreneurship” in Abuja today.

Dr. Pantami maintained that the responsibility of the ministry is to work on policies that will remove the obstacles and the barriers to the development of the country, adding that the National Digital Innovation and Entrepreneurship Policy is aimed at providing an enabling environment for indigenous innovations to thrive.

The Minister noted that from his engagement at Massachusetts Institute of Technology (MIT), Boston, he realized that a nation’s digital economy success relies on two elements – indigenous digital innovation and indigenous entrepreneurship.

What they are saying

Dr. Pantami, speaking about the National Digital Innovation and Entrepreneurship Policy said:

We want to engage our start-ups, ICT hubs all over the country, identify their major challenges and see how government can provide an enabling environment for them to be very successful and that is the idea behind this policy.

“These are the two elements that will make the country a producing nation instead of a consuming nation. It is because of this, I feel this is the right time to work on the National Digital Innovation and Entrepreneurship policy.”

Director-General of National Information Technology Development Agency, (NITDA) Mallam Kashifu Inuwa Abdullahi, said :

We have seen an IDE (Jumia) that created more than 5,000 direct jobs and grew to more than 1B USD valuation within three years. Boston Consulting Group projected that by 2025, Jumia and other potential unicorn companies could create more than three million jobs in Africa.

“In line with this, the objective of the policy produced is to help institutionalized digital entrepreneurship in our country in line with President Muhammadu Buhari’s economic diversification agenda.”

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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Business

AfDB signs $400k grant with SEC to strengthen securities market regulation

The AfDB has signed a $400, 000 grant with Nigeria’s SEC to strengthen securities market regulation.

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unclaimed dividend, SEC restrains fintech company, Chaka from advertising or offering for sale shares

The African Development Bank, AfDB, has signed a $400, 000 grant with Nigeria’s Securities and Exchange Commission to strengthen securities market regulation.

This was disclosed in a statement by the Federal Government on Sunday, as it stated that the grant would also be used to broaden market instruments.

SEC boss, Lamido Yuguda said: “This collaboration further underscores our mutual goal to grow our markets and create viable avenues for sustainable economic development for Nigeria and the region.”

READ: AfDB to assist West African countries deliver on carbon emission reductions

What you should know 

Nairametrics recently reported that the Japan International Cooperation Agency (JICA) and the African Development Fund (ADF) – the concessional arm of the African Development Bank signed a loan agreement of 73.6 billion Japanese yen ($668.1 million) to support the 15th replenishment of the African Development Fund (ADF-15).

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Business

Lagos seals 11 event centres, night clubs, in Ikoyi, Victoria Island, Ikeja, others

The Lagos State Government has shut down 11 facilities in the State for contravening Covid-19 directives.

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The Lagos State Government, on Saturday and Sunday, shut down 11 facilities which include event centres, lounges and night clubs among others,  for contravening Covid-19 directives.

This follows the reported gathering of a large number of people, beyond the expected number, at those facilities.

This disclosure was made by the Director-General of the Lagos State Safety Commission (LSC), Mr Lanre Mojola, after the sealing exercise in Lagos on Sunday.

According to a report from the News Agency of Nigeria (NAN), Mojola said though the affected event centres originally informed the agency of their intentions to organise parties and events, they failed to meet the expectations of the agency on complying with Covid-19 protocols.

READ: Lagos moves to reopen cinemas, bars, tourism centres as it issues guidelines to be met

He said that those facilities were sealed for non-compliance with Covid -19 Health Protection Regulations of the State and Federal Government.

Mojola, who was represented at the sealing of the property by Dr Wale Adeboje, the Events Safety Administrator of LSC, maintained that the enforcement exercise saw event centres, bars and lounge sealed between Saturday and Sunday.

The event centres, bars and lounges sealed between Saturday and Sunday include UBC Club, VGC, Sapearz Lounge, Awolowo road, Ikoyi, Bravo event centre, Ogba, Ronite Event Centre, Iju Road, Agege.

Other sealed centres are All Season Event Centre, Ipaja, OlaideAdeoluwa Memorial Hall, Carabana Lounge/Bar Isolo, Ajao Estate, DNA Victoria Island, Twist Lounge Kofo Abayomi Victoria Island, Carlsbad Lounge Adeniyi Jones Ikeja and Darts Event Centre, Grammar School, Ifako Ijaiye.

READ: Lagos, Chinese firm to rollout 1,000 SUVs as taxis, to complete auto assembly plant in 12 months

Mojola said, “The facilities were sealed for non-compliance with the Event Safety Clearance that was issued to them by the commission.

“The commission will continue to monitor and enforce compliance across the state while warning that all the Covid-19 violators and perpetrators will be summoned to the commission’s office in Alausa for further directives on what to do as far as their negligence and non-compliance is concerned.’

He urged event owners to register and obtain permits on www.lasgsafetyreg.com, adding that the event facilities visited applied for 50 guests inside and 150 guests outdoor.

The LSC boss said that to the commission’s surprise, they had 150 guests inside and more than 200 guests outside, without following the use of face masks and hand sanitisers.

Binance

What you should know

  • In a bid to curb the spread of the virus in the state, the Lagos state government has taken stern actions which have affected the operations of key relaxation hubs.
  • The government, through the Lagos State Safety Commission, has been on an enforcement drive with the sealing of event centres, night clubs and even religious centres over non-compliance of Covid-19 protocols.

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