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6 Things Nigerian Startups Are Worried About

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Startups are the backbone of any economy. They are established by young Nigerians who make efforts to secure capital and start something on their own.

This is not a simple task. Ask any young person who owns a business, you will be taken aback by their experiences and tales of running one in Nigeria.

These startups which can be likened to small scale businesses have provided employment and contributed their own quota via creative ideas, to either offer solutions to societal problems or a service.

Despite this, there are quite a number of challenges they are encountering and are quite worried about. Jumia Travel, the leading online travel agency, discuss some of these worries.

Power
The issue of electricity can’t be over flogged. If power can be stroked off the list of things startups are worried about, it will have an overall impact on the startup. First of all, you will not factor in money for buying a generator or fuel into your budget.

Such a money will be invested in the business or employ more hands. But power is epileptic. You will be gobsmacked if you see the amount even big organizations budget for huge generators and diesel let alone startups.

Business Registration
Kudos to the Nigerian government for launching the 60-day national plan for ease of doing business in the country. It is good but it is more than just launching a plan. The time, money and stress of registering just a startup are discouraging.

This is why many startups just register their business name while they leave the other paperwork for later.

Business registration should be automated so that it won’t take more than a week to register a startup. In fact, priority should be given to startups.

Capital
Thanks to venture capitalists and seed investors who are supporting these startups to keep them afloat. Obviously, this is usually after you have invested a certain amount of your capital in the business.

Where do you get the capital from? It is usually from friends and family. Banks are likely to deny you loans. And of course, the Naira to dollar fluctuations is also an issue.

Little Tangible Corporate or Government Support
Corporate organizations rarely support startups. They prefer to sponsor or support entertainment programmes or ideas.

If you pitch your idea to them and it is not entertainment related, you are probably wasting your precious time.

Corporate organizations should sponsor competitions, where individuals with startups ideas can compete and get, will get financial support to implement the idea. As for the government, they are trying but there is more to be done.

Taxation
There are different bodies that collect taxes in Nigeria. And they charge to pay all sorts of rates. Although some organisations fail to pay tax, it’s not their fault sometimes. The government needs to block these loopholes and harmonize the taxation process. Hence, startups will know that they are not double taxed.

Lack of Patronage from Nigerians
It is worrying that Nigerians don’t buy made in Nigeria goods. They prefer foreign to Nigeria made. Patronizing Nigerian startups doesn’t only means you are supporting them, it shows you recognize their efforts.

 

 


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Elumelu Tags Elon Musk, Disowns AI-Generated Scam Video

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Tony Elumelu, Nigerian businessman and philanthropist, has warned about the growing dangers of artificial intelligence misuse after an AI-generated video falsely showed him promoting a forex and cryptocurrency trading platform.

Elumelu Tags Elon Musk, Disowns AI-Generated Scam Video

Tony Elumelu,

The founder of Tony Elumelu Foundation revealed this in a post on his X account on Monday, explaining that the video appeared highly convincing but was entirely fabricated.

In the post, he also tagged Elon Musk, X owner, and Nigeria’s Federal Ministry of Communications, Innovation and Digital Economy while calling for stronger safeguards against the misuse of artificial intelligence.

“A few days ago, my team flagged an AI-generated video of me endorsing a forex and crypto platform.

“It looked and sounded remarkably real, but it was completely fake. This incident highlights a growing and serious threat to digital trust,” he wrote.

He stressed that he has no affiliation with any cryptocurrency or foreign exchange trading platforms.

“For the avoidance of doubt, I am not associated with any crypto or forex trading platforms.

“My commitment to inclusive prosperity has always been through long-term investments, building sustainable businesses, and empowering entrepreneurs,” he said.

While acknowledging the transformative potential of artificial intelligence, Elumelu urged African youths to embrace the technology responsibly and use it to develop scalable solutions.

“I strongly believe in the potential of AI. It is a defining technology of our time, and African youth must be at the forefront of adopting it to build scalable solutions. We cannot afford to be left behind in the global tech race,” he added.

The business leader, however, warned that rapid technological advancement also presents risks if not properly regulated.

“But the flip side of rapid innovation is the risk of abuse. The ease with which identities can now be cloned to deceive the public is alarming.

“Policymakers and regulators must act now to establish safeguards and hold those using it to scam innocent people accountable,” he said.

Elumelu also urged the public to remain vigilant and protect themselves from digital fraud.

“We must create a safe digital environment where true innovation can thrive without being overshadowed by fraud. Protect your hard-earned money, stay alert, and let us continue to build the Africa we deserve,” he said.

 


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NITDA DG Appraised the Role of Teachers as Key to Nigeria’s Digital Transformation

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By Solomon Yaji

Kashifu Inuwa, the Director-General of the National Information Technology Development Agency (NITDA), has emphasised the critical role teachers play in driving Nigeria’s digital transformation, noting that classrooms will be central to shaping the country’s technology-driven future.

Inuwa made the remark during a stakeholders’ dialogue organised by the Development of Educational Action Network Initiative (DEAN) in Abuja.

Speaking on the theme “Nigeria’s Current Digital Landscape: Our Reality and Its Practical Connection to Education,” the NITDA DG, who was represented by the agency’s Director of Stakeholder Management and Partnerships, Dr. Aristotle Onumo, said the rapid expansion of the digital economy is reshaping the education sector and redefining the role of teachers in modern learning environments.

He explained that while digital technologies have created unprecedented access to information and opportunities for students, they also present challenges that require guidance and responsible use.

According to him, teachers must go beyond the traditional role of knowledge transmission to become mentors who help students navigate the digital world safely and responsibly.

“Teachers are no longer just instructors; they are now guides who help students identify credible information, avoid harmful online content, and develop responsible digital behaviour,” he said.

Inuwa added that educators must cultivate critical thinking among students while equipping them with the skills needed to thrive in an increasingly technology-driven society.

He reaffirmed NITDA’s commitment to advancing digital literacy nationwide through initiatives such as the Digital Literacy for All programme and partnerships with educational institutions aimed at strengthening teachers’ digital capacity.

The NITDA boss stressed that empowering teachers with digital skills is vital to preparing Nigerian students for the future workforce and ensuring the country remains competitive in the global digital economy.

Nigeria is currently pursuing an ambitious digital literacy agenda, targeting 70 per cent digital literacy by 2027 as part of broader efforts to build a knowledge-driven economy powered by innovation and technology.

Earlier in his remarks, the Executive Director of DEAN Initiative, Semiye Michael, said the workshop was designed to re-engineer teachers’ capacity in line with the realities of the digital economy.

“We need to strengthen teachers’ competence and provide them with access to the necessary digital infrastructure,” Michael said, adding that the engagement would help shape policies that support technology-driven learning in Nigerian schools.

He described the workshop as an “awesome experience,” noting that ideas generated during the session would be consolidated into a policy guide for the ministry and other relevant agencies.

Michael further noted that strengthening teachers’ digital capacity would be vital to enhancing Nigeria’s competitiveness in the global knowledge economy.

The event attracted key stakeholders from the Federal Ministry of Education, Nigerian Communications Satellite Limited (NIGCOMSAT), as well as private sector experts.


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Amnesty Poll: 97% of Nigerians Doubt Judicial Independence

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A new Amnesty International poll exposes stark public distrust in Nigeria’s judiciary, with nearly 97% of respondents believing judges face external influence and lack independence in their duties.

Amnesty Poll: 97% of Nigerians Doubt Judicial Independence

Amnesty International

Shared on social media by Amnesty International Nigeria, the poll asked if Nigerian judges operate freely. An overwhelming majority answered “No,” with only a tiny fraction expressing confidence amid fears of pressure from political actors or powerful interests.

Judicial independence underpins democratic governance, enabling impartial rulings based on law alone. In Nigeria, doubts have intensified after controversial decisions in high-stakes political cases.

While not a scientific survey, the findings echo civil society demands for reforms to boost transparency, accountability, and trust. Advocates stress that bolstering court autonomy is vital for upholding the rule of law and citizens’ rights nationwide.


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