Business
GITEX 2020: Nigeria receives $50m Start-up investment – Pantami
$50m has been received for the support of various start-ups in Nigeria through the government’s digital economy and innovations policy.
The start-up investment funds in Nigeria have been boosted with the sum of $50m for the support of various start-ups in the country through the government’s digital economy and innovations policy.
This disclosure was made by the Minister of Communications and Digital Economy, Dr Isa Pantami, as he unveiled Nigeria’s Pavilion at the 2020 40th Gulf Information Technology Exhibition (GITEX), holding at Dubai, United Arab Emirates.
Dr. Pantami noted that the journey of start-ups is a tough one indeed but implored all to be consistent and steadfast as the breakthroughs always come after several years.
He gave insight into the success story of Amazon that has grown to become a global brand with huge profit today after several years of trials and failures.
According to him, “The startups need to be mentored. Any start-up without mentorship cannot be successful on the platter of gold, you need to be patient and consistent.
“You have to be steadfast and partake in critical thinking as well as be analytic. The main challenge is not about funding, but mentoring. That is why our focus now is on mentoring our young start-ups.
“We are also providing the enabling environment for them to thrive, so you discover that in the proposed finance bill 2020, there is reduction in small and medium enterprise taxes.
“If we are able to implement this plan in the next five years, our start-ups are going to be celebrated not only in Nigeria, but globally.”
What you should know GITEX
- GITEX is the biggest annual consumer computer and electronics trade show, exhibition, and conference in the Middle East and East Africa. It takes place in Dubai, United Arab Emirates at the Dubai World Trade Centre.
- About 10 Nigerian start-ups would be showcasing their innovations in the Dubai exhibition.
- The 2020 GITEX started on December 6 and is expected to end on December 10.
Business
Lagos State seeks investors in aquatic and livestock agriculture value chain
The Commissioner revealed that the scheme was in line with the State’s five-year strategic agriculture roadmap.
The Lagos State Government announced it is seeking private sector collaboration for Agriculture sector value chain development in livestock feed mills, fisheries and red meat.
This was disclosed by the State Commissioner for Agriculture, Ms Abisola Olusanya, in a statement on Sunday in Lagos.
The Commissioner revealed that the scheme was in line with the State’s five-year strategic agriculture roadmap, as the State identified the 3 main sectors for value chain disruption.
READ: Lagos goes tough on illegal conversion of land use, enforcement begins in Ikeja GRA, Lekki, others
She also added that investment in the sectors would also develop jobs for the industry and boost the State’s GDP growth, through Private Sector collaboration as Lagos residents consume over N5 trillion worth of food annually.
“The objective is to stimulate and encourage more public-private partnerships in the three value chains,” she said.
“When you consider this pool of transactions happening in Lagos, it shows that we are the market. For instance, we demand over 400,000 metric tons of fish on an annual basis.
“But our fishermen and our aquaculture farmers are only able to produce just about 174,000 metric tons with deficit of 200,000 metric tons,” she added.
READ: CBN invests over N120 billion on 320,000 farmers across CTG within four years
She also disclosed that the state has 9,000 artisanal fishermen, and bringing more youths into the space will increase the level of fish and seafood being harnessed from our water bodies. Looking at the transactional value on an annual basis, the fisheries sector is worth well over N120billion according to her.
In case you missed it: Nigeria exported agricultural products worth N321.5 billion in 2020, representing a 19.16% increase when compared to N269.8 billion recorded in 2019 and a 6.27% increase compared to N302.28 billion recorded in 2018.
Business
#DigitalSkillsTraining: FG announces conclusion of selection process
Only successful applicants that are contacted by the Ministry are to report at the training venue.
