Connect with us

News

Two Nigerian Startups Win $300,000 At LEAP’s Rocket Fuel Pitch Competition in Riyadh

Published

on

Two Nigerian Startups Win $300,000 At LEAP’s Rocket Fuel Pitch Competition in Riyadh

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

It was a proud moment of excitement for the Nigerian delegation, led by Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami), accompanied by Director General of NITDA, Kashifu Inuwa CEIE, Executive Vice Chairman, Nigerian Communication Commission, Prof. Umar Garba Danbattaamd Managing Director, Nigerian Communication Satellite, Engr. Tukur Muhammad Funtua, that participated at the 2nd edition of the LEAP Technology Exhibition in Riyadh, Saudi Arabia, as two Nigerian startups emerged winners in different categories at the Rocket Fuel Pitch Competition, and are coming home with a combined total prize of $300,000 (Three Hundred Thousand Dollars).


Over 10,000 Startups submitted applications from different countries. After rigorous scrutiny, the applicants were down to 220, and only 90 startups were selected to pitch their business ideas in the semi-final. Eight Nigerian Startups participated at the semi-final, and three reached the final stage.

RiceAfrika Technologies – is a tech-driven agric optimisation startup that deploys IoT-enabled harvester and its FARMEasy mobile app for smallholder farming communities in Africa.

RiceAfrika believes Africa can feed itself and feed the world. It emerged as the global best in ‘The Tech for Humanity Award’ category and is coming home with 150,000 dollars.

While Wicrypt – An innovative Tech startup decentralising internet globally. The startup has a custom OS and hardware that allows users to share data with people around them and charge an affordable rate also won 150,000 dollars after he was announced as the global best in the ‘The Into New World Award’ category.


Professor Pantami leader of Nigerian delegation expressed his delight while maintaining that Nigerian Startups have all it takes to compete with their peers in the global stage.
“I am so proud of our Startups who emerged as the global best in these categories.

It is quite a long journey that followed rigorous process until the end; from over 10,000 applications to the final 12, in which three Nigerians took part and two emerged winners. We are delighted that our startups are not only amazing but went through a lot of nurturing and mentorship to be the best in the world,” he noted.


The Minister stated that Nigeria is on the right track in implementing its National Digital Economy Policy and Strategies to ensure that Nigerian Startups add value to the global tech ecosystem. We are building the ecosystem and making it more conducive for nurturing innovation-driven enterprises. Our startups are creating solutions for the local market that can easily scale to the global market.


“The journey started in 2019 shortly after President Muhammadu Buhari unveiled the National Digital Economy Policy and Strategy (NDEPS) for Digital Nigeria. Now we are reaping the positive benefits of our commitment. In the space of five months, we have Nigerians that are making us proud on the global stage.


“The eight entries from Nigeria competed with over 90 Startups in the semi-finals, showcasing their innovative ideas that will transform economies and solve pertinent issues around the world. Therefore, they emerged global best.

They did not only pitch to win grants but also attended various knowledge-sharing sessions, conferences and investor meetings that have exposed them to numerous ways to accelerate their products for the best market fit. The startups intracted with the world’s best mentors, angel investors and venture capitalists.”


“It is also noteworthy that eight Startups we brought to this year’s LEAP, three made it the Grand Finale, two won, and are going back home to add value to our Digital Economy.

On behalf of the Nigerian government, we sincerely appreciate the Digital Cooperation Organization (DCO) Headquarters, Riyadh, for sponsoring our innovative startups to participate and showcase their innovations to the world”, he added.


Prof. Pantami also said that the successes of Nigerian Startups in GITEX, Dubai, United Arab Emirates in October last year, and today in Riyadh, Saudi Arabia, is evident that the country’s innovators have accepted the challenge posed to them by the Federal Government to not stell as the African leaders but compute globally.


“The recent successes are the fruit of policies we put in place to ensure our Startups walk shoulder to shoulder with their counterparts in Europe, Asia and other parts of the world. Under President Muhammadu Buhari, the federal government appreciates the outstanding exploits of startups in the country, which are helping to create jobs, fast-track economic development, and also winning awards and grants amounting to millions of naira,” he concluded.


This year’s LEAP brought together breackthrough innovative ideas and emerging developments in technology under one roof. A landmark technology event that galvanised public and private organisations in the Kingdom of Saudi Arabia.


Five startups were crowned as category winners, and the sixth, Plastus Biotech, ascended to victory and held the LEAP 2023 Award for the best overall startup.

All of this took place in front of seasoned judges, angel investors, tech experts and government stakeholders from around the world!.


The six awards divided the startup entrants by size, scale, impact on society, amount of funding, years in business, and a number of employees. Judges for the competition include Ghazal Alagh, Co-founder, of Mamaearth and Judge, Shark Tank India, Baroness Karren Brady CBE, Vice Chairman of West Ham United Football Club, James Caan CBE, entrepreneur, businessman, investor, and former Dragon on BBC’s Dragons’ Den, and Steven Bartlett, entrepreneur, investor, podcaster, and current Dragon on BBC’s Dragons’ Den.

Continue Reading

News

NiMet And FUPRE To Partner On Weather Observation, Research And E-Learning

Published

on

NiMet And FUPRE To Partner On Weather Observation, Research And E-Learning

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Nigerian Meteorological Agency (NiMet), is to collaborate with the Federal University of Petroleum Resources Effurun (FUPRE),Delta state, on weather observation, research and e-learning.

Left to Right: Professor Charles Anosike, Director-General and Chief Executive Officer of NiMet, and Professor Akpofure Rim-Rukeh, Vice Chancellor, Federal University of Petroleum Resources Effurun (FUPRE), Delta state, at the signing of a Memorandum of Understanding (MoU), between NiMet and the university on Thursday, 16th May 2024.

This was disclosed by the Director-General and Chief Executive Officer of NiMet, Professor Charles Anosike, on Thursday, 16th May 2024, at the signing of a Memorandum of Understanding (MoU), between NiMet and the university.

Professor Anosike observed that oil companies have weather stations spread across the shores of Nigeria, which are illegal according to the new NiMet Act. He said that these weather stations need to be registered with NiMet in compliance with NiMet Act and solicited the collaboration of the University to achieve this.

Speaking further, Professor Anosike noted that the partnership with the petroleum institution will not only help improve data gathering on climate risk in the area, but also strategically make NiMet become the centre of excellence in disseminating the risk to the oil and gas sector.

“I will like the Federal University of Petroleum Resources Effurun (FUPRE), to take advantage of NiMet’s e-learning services that will soon be unveiled. It would actually fast-track introduction of joint courses between FUPRE and NiMet”, Professor Anosike concluded.

On his part, the Vice Chancellor of FUPRE, Professor Akpofure Rim-Rukeh disclosed that the institution expects support from NiMet in the installation of observatory stations, training personnel on generation of weather data that can support research, journals and academic publications and other good interventions that will impact on the university and its environment.

Amongst other things, the MoU aims to establish a collaborative framework between NiMet and FUPRE for joint efforts in research, training and promotion of activities relating to meteorology/climatology and climate change in Nigeria. Specifically the MoU will have NiMet Install its observatory station known as Resident Observatory Station (ROS) in suitable locations within FUPRE for the purpose of carrying out meteorological activities.

The MoU signing was witnessed by the Director, Legal Services of NiMet, Barr. Shola Gabriel and other staff of the Agency. The Vice Chancellor of FUPRE, Professor Akpofure Rim-Rukeh signed on behalf of the Federal University of Petroleum Resources Effurun (FUPRE) , Delta state, while Professor Anosike signed on behalf of NiMet.

Continue Reading

News

Tax Conference: Sanwo-Olu, Zulum, Amosun, Other Experts Seek Transparent Tax System to Boost Internally Generated Revenues

Published

on

Tax Conference: Sanwo-Olu, Zulum, Amosun, Other Experts Seek Transparent Tax System to Boost Internally Generated Revenues

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Lagos State Governor, Mr. Babajide Sanwo-Olu, and his counterparts from Sokoto and Borno States have emphasised the need to make the country’s tax system more transparent and accountable to Nigerians to boost confidence and voluntary compliance.

The governors made the call at the ongoing 26th Annual Tax Conference organized by the Chartered Institute of Taxation of Nigeria (CITN) in Abuja, with the theme, “Sustainable Tax Culture and Economic Roadmap for Nation Building”.

Speaking at the conference, Governor Sanwo-Olu who was represented by his Special Adviser on Taxation and Revenue, Mr. Abdul-Kabir Opeyemi Ogungbo, said the theme of the Conference was apt and timely given that Nigeria, like many other nations, is currently facing significant economic challenges.

While underscoring the crucial role of a transparent and efficient tax administration in fostering confidence and voluntary compliance among taxpayers, he emphasized the necessity for citizens to witness tangible outcomes from their tax contributions, highlighting the pivotal role taxes play in fueling public services and infrastructural development.

Sanwo-Olu stressed the shift in mindset needed, urging taxpayers to view tax payments not as a burden but as an investment in a better future for Nigeria.

He said building a strong and sustainable future through a robust tax system that fosters economic growth and development had become inevitable.

Sanwo-Olu said, “We must all understand the crucial role taxes play in building a better Nigeria for ourselves and for generations to come.

“The theme also highlights the need for a clear economic roadmap which should take note of the architecture of our developmental ideologies as they are designed to provide the government with the necessary resources to cater for the social needs of its citizens, therefore we need a tax system that incentivizes investment, job creation, and economic diversification.

“We need to explore innovative ways to expand the tax base while fostering a business environment that allows our economy to thrive. The good news is that Nigeria is already taking positive steps in these directions. The recent efforts to streamline state-level taxes and the focus on integrating the growing remote workforce into the tax net are commendable initiatives.”

The governor said, “The CITN plays a vital role in fostering this vital shift. Your commitment to professional excellence and education is instrumental in ensuring a tax system that is fair, efficient, and promotes economic development.”

However, former Governor of Ogun State, Senator Ibikunle Amosun, who declared the conference open, while stressing the need to prioritize growing Internally Generated Revenue (IGR) over relying solely on borrowing to fund national and sub-national budgets, said borrowing to fund the budgets was not the way to go amid the current national economic challenge when “our nation and its constituent states and local governments are going through very difficult times and finding it hard to provide for its teeming populace, acceptable standards of living, employment with the growing population of youths, infrastructure and basic amenities that will make life more meaningful”.

Governor Babagana Zulum of Borno State criticized inefficiencies and corruption in the current tax administration system.

Zulum, represented by the Deputy Governor of Borno State, Umar Kadafur, highlighted the shortcomings of the current tax system, including tax evasion, avoidance, and lack of transparency.

He called for critical reforms to address these issues, including tackling corruption in both the oil sector and governance system. He criticized the political protection of tax evaders and emphasized the importance of transparency and accountability in tax administration.

While calling for critical reforms, he lamented the manipulation and connivance of multinationals with tax administration to short-change the system, he added that this represented one of the hallmarks of corruption in both the oil and governance system.

In his remarks, the Governor of Sokoto State, Ahmad Aliyu Sokoto, said the conference will greatly assist in exploring innovative ways of improving revenue generation in the country.

He said the economic and revenue challenges had made it difficult for governments at all levels to implement their people-oriented programmes, thus the need for the government to devise a means for more funds to provide the dividends of democracy to the people.

The governor said taxation remained a veritable source of resource mobilization for the government adding that his administration would work with CITN to boost IGR in the state.

The Auditor-General for the Federation (AuGF), Mr. Shaakaa Chira, said the country’s tax system was plagued by instances of tax evasion especially by the upper class, multiple taxation and inability to properly account for taxes collected by administrators.

The Chairman of the conference planning committee, Dr. Adeyemi Sanni, noted that for Nigeria to achieve meaningful fiscal development over the long term, it is imperative to establish a tax culture that can withstand economic fluctuations and challenges.

President and Chairman of the CITN council, Mr. Samuel Agbeluyi, emphasized the importance of investing in technology and people at the subnational level to effectively track revenues in the digital space, including cryptocurrency. This, he believes, will help maximize government revenue flow.

Mr. Agbeluyi stressed the need to provide support to revenue authorities through financial and administrative autonomy, empowering them to effectively administer taxes as he noted it is clear that a strategic approach to revenue management is crucial for the overall financial health of the government.

The CITN boss stated further, “This is a thought-provoking topic that requires all of us to put on our thinking hats. As we deliberate, we must recognize that our nation faces significant challenges. Our current economic realities as a country are multifaceted, despite efforts to improve the narrative by the current government.

He said, “The 2024 budget of “Renewed Hope” as we know relies significantly on non-oil revenue, and this trend is expected to continue in the future. Therefore, building a sustainable tax culture capable of significantly improving our tax revenue performance for an effective. economic and capital formation becomes a top priority.”

Continue Reading

News

Nigeria DigitalSENSE forum @15, gets June date

Published

on

Nigeria DigitalSENSE forum @15, gets June date

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The date for the 2024 Nigeria DigitalSENSE Forum on Internet Governance for Development (IG4D) has been unwrapped for Thursday, June 27, by organisers, ITREALMS Media group.

Disclosing this, the Lead Consulting Strategist, DigitalSENSE Africa and Group Executive Editor, ITREALMS Media, Mr. Remmy Nweke, said that this year’s edition marks the 15th edition of Nigeria DigitalSENSE Forum on IG4D series and comes with the theme “IG4D: Innovative Digital Economy & Safer Civic Space in Nigeria” at the prestigious Welcome Center Hotels, International Airport Road, Lagos.

Nweke recalled that in 2009, the Nigeria DigitalSENSE Forum (NDSF) series on Internet Governance for Development made a debut and ever since has been steadfast in rallying stakeholders to take discourse on Internet access, openness, affordability, connectivity and ICT infrastructure among others.

This year, he also said, as NDSF marks 15th years of impacting various Nigeria’s economic sector with yet another series on the theme: IG4D: Innovative Digital Economy and Safer Civic Space in Nigeria.

“It will also be a time for recognition of corporates and individuals for their contributions in deepening Internet penetration, improving access and affordability as well as technological adaptation that begets digital sense in our society,” Nweke said.

NDSF series on IG4D, powered by ITREALMS Media group is hosted by DigitalSENSE Africa, an At-Large Structure (ALS) certified by the Internet Corporation for Assigned Names and Numbers (ICANN), in collaboration with relevant stakeholders including Internet Society (ISOC), Nigeria chapter, Nigerian Communications Commission (NCC), Internet Exchange Point of Nigeria (IXPN) among others.

Continue Reading

Trending

Copyright © 2021 All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from August24news.com
This Website is designed and Managed by: August 24 Communications Nigerian Limited (RC: 798585)