Connect with us

General News

PMB Should Engage Private Sector Urgently to Save Nigeria- Zinox Boss

Published

on

Leo Stan Ekeh, chairman of Zinox Group
Kindly share this post

Leo Stan Ekeh‎ is the chairman of Zinox Group. Ekeh is a serial digital entrepreneur, and a man who carries around with him an infectious passion for the Nigerian project, especially with regards to seeing the country take its rightful place in the comity of industrialized nations by leveraging on the limitless opportunities in the ICT sub-sector. ‎Speaking to ICT journalists in Lagos, he bares his mind on a number of issues including the current economic climate, the education sector and much more. Peter ugwu was there for Nigeria CommunicationsWeek. Excerpts

ICT as a Game-Changer in a Nation’s Economic Development.
That’s correct. I have always told anyone who cared to listen that the way to go when it comes to taking Nigeria to the level of development we so urgently crave is by building a knowledge economy. In this 21st century, no one has a business being poor especially considering the proliferation of Information and Communication Technology tools and the internet which has put the world at everyone’s finger-tips.
Today, you no longer have to physically leave your environment to gain access to formal education.
With a computer and access to the internet, a variety of degrees can be acquired at your convenience. So is access to new information on business intelligence, ideas and concepts which could radically change one’s circumstances. Information is power and it is at everyone’s disposal at the speed of light these days so what business do we still have as a nation being classified as a Third World or developing country? Many years ago, I had realized that the power to liberate millions of our youths lay in the internet and associated technologies hence the decision behind our “Computerize Nigeria” project which we launched in 2001.
The idea is to provide affordable access to ICT tools and processes which, among other things, promoted the digital re-tooling of individuals, institutions and corporate entities as well as the launch of the first computer ownership scheme in Nigeria.
Imagine every Nigerian being able to own a computer which with he or she can access the internet and avail themselves of the huge well of information and intelligence that is evidently manifest therein.
Before long, you will have built a knowledge economy of highly literate and sound-thinking people who can stand on their own and take meaningful decisions in business and life which will undoubtedly rub off on the nation’s fortunes. Understandably, all these will have to go hand-in-hand with improved access to education which is the foundational basis for every developed economy

Improving Access to Education and Building the Knowledge Economy
Education is the bedrock of development, as you have rightly mentioned. While I commend the efforts of previous administrations, it is worth stating that more needs to be done to raise the dwindling standards.
Contemporary realities make it evidently imperative for the government to beam its focus on the education sector as a matter of urgency and the time is now.
The recent budget presentation made by the President which saw an increase in the allocation to education thankfully seems to have taken into cognizance the need to urgently intervene in the sector. Nevertheless, while allocating 5.5% of the budget which amounts to 396 billion and represents the largest sectoral allocation, is a big step in the right direction, more still needs to be done in expanding access to formal education for millions of our youths.
Today, many parents find it hard to support or see their children through school especially at the tertiary level owing to obvious economic challenges and the spiraling cost of access.
This is one area the government should focus on, with a view to finding means of reducing the impacts on especially indigent and economically vulnerable parents. Furthermore, the government needs to do more in the area of reviving our institutions to average standards which is not rocket science, moreso when you consider that what obtains at the moment is at best a watered-down version of what some of us were exposed to back then.

The  Economy, Prevailing Downturn, Falling Price of Crude Oil, Forex
Well, I have always been an optimist. I believe the Nigerian economy can never shut down totally, by God’s grace.
However, the shocks and gaps in the economy at the moment represent our current realities and we must find creative ways to navigate this harsh economic climate. The unprecedented fall in the price of crude oil is a global phenomenon which not even the smartest economist could have predicted.
The only regret is the fact that successive governments failed to save for the present rainy day we are experiencing when prices were at their peak.
Having said that, we must always look forward. I sincerely believe that the current administration has the requisite political will and capacity to see the country through this storm and the new mindset of Nigerians to get things done properly also helps. I also believe that the organized private sector holds the key to a way out of the present quagmire.
As a matter of urgency, President Buhari should engage the private sector to save Nigeria. The three levels of the sector drives over 80% of Nigeria’s economy and certainly, we can only move forward when the government carries them along. Recall that in the run-up to last year’s elections, President Buhari met with representatives of the private sector in Lagos to present his party’s economic plans. This and other engagements certainly went a long way in contributing to his victory at the polls. ‎
It is my considered opinion that the time is right for the President to enlist the support of the sector in finding a way out of the current economic challenges by restating the vision and focus of the government as well as its sincerity to turn around the economy, as eloquently outlined during the electioneering period. In so doing, the President can secure the support of the sector for the vision and plans of his government. For instance, by reaching out to large corporates, influential businessmen and individuals, and even some of our big churches with huge reserves abroad, the government can find a way out of the foreign exchange challenges. These establishments and individuals can lend the government through promissory notes at an interest rate of, say 1.5% per year which will be the highest anywhere in the world and repay gradually over a period of one year. The government can raise money through this means which will provide the needed foreign exchange to enable it meet the numerous commitments and also help it navigate and offset the low price of crude oil in the global market.
Government, on its own part, can reward the private sector by giving them a chance to have a say in government and by looking into some of the challenges being faced by the sector in terms of confiscation of goods by some agencies, multiple taxation from the tiers of government, unconducive business environment especially as they are the custodian of power and they should be accountable to the people who elects them to office.
I am confident that in 18 months, the current challenges will be solved and the economy will rebound.

Massive Job Cuts and Losses Being Experienced
I am sure no employer will be happy to embark on retrenchment, right-sizing or down-sizing, as the case may be. It is a reaction to the prevailing circumstances as businesses try their best to remain afloat. Government agencies are also not left out as they are also heavily involved. Down-sizing or job cuts have a huge, negative multiplier effect on the economy as it not only affects the individual who is laid off but also affects families and other dependents while creating a myriad of social problems. Statistically speaking, there are well over 23 million unemployed and under-employed Nigerians who are looking up to the government to provide employment opportunities for them.
Although little can be done by businesses but the President can appeal to large corporates and even small and medium companies to leverage on reserves by also offering some tax incentives for the next 18 months so that employees are not unnecessarily retrenched in the short term. This is the time for shareholders to cut their dividend expectation for the economy to survive because if there is no economy, we do not have a business. I frankly believe things shall turn around sooner than is being speculated.

Next Big Sector for Employment
I have been saying it in the last 20 years. It is technology, technology and technology. If past administrations invested heavily in this sector, the ICT sector would be earning more revenue than oil with solid hopes of prosperity for the majority, mostly for those from poor homes who have the brain power. Do we expect miracles from oil? The answer is no. Global statistics has shown credible trend in countries resolving their employment challenges through structured investment in the ICT sector. Is it that our leaders and their advisers are too blind to see future measureable wealth? The Devices, Software, Solution and E-commerce sector could employ well over 45 million Nigerians with solid future and could also bring a minimum revenue of $150billion every year. I am not sure what we are still waiting for to save this nation. Is it not a shame we are all waiting for oil prices to move up for the nation to survive? We are ignoring what we have control of and putting all our hopes on nature in this 21st century.

Make-up of the President’s Team
I must state here that I appreciate the calibre and quality of Ministers President Buhari has assembled to pilot the affairs of the nation. It is a very good team of seasoned men and women who can stand the test of integrity and service delivery. ]Having said this, they must be encouraged and made to work and put in their utmost best for the country to bring about the positive change Nigerians are yearning for.
 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

General News

Leo Stan Ekeh: A “Rare Avis”, an Unconquerable Entrepreneur

Published

on

Kindly share this post

By Tim Akano

Leo Stan Ekeh (LSE) is an extraordinary human being. He is extremely hardworking, hugely brave, and massively intelligent. He is a shrewd businessman but with a cathedral-size heart of butterfly

Leo Stan Ekeh: A "Rare Avis", an Unconquerable Entrepreneur

Leo Stan Ekeh

I’m a product of LSE’s generosity. But not only me, I am close enough to know. We are uncountable.

I was always with him after office hours in his office twenty years ago when he was constructing a church in his place of birth. He was so committed to details and beauty that when the church was roofed and he went for inspection and discovered some misalignment, he instructed the contractor to remove the roof and redo it, without minding the extra cost coming from his pocket.

There was this physically challenged fellow that LSE bought a car for, including a driver to make life easier for her.

During one of his birthday celebrations, he told me, Tim, I am not inviting my friends for any birthday party this year, all the money I would have used in buying expensive wine, I am donating everything to charity

LSE & I

He actually looked for me when I started New Horizons. He read my interview in the Vanguard news paper and asked his staff to look for me.

Prayer:
May each of us receive a telephone call before the end of 2025 that will change our life’s trajectory for good for ever in Jesus name, Amen.

I did.!

Our conversation on that fateful Friday went like this:

LSE: Tim, I read your interview in the newspaper. I would like us to meet.

Tim: You are our LEADER in the Technology ecosystem, Sir.
I can come to your house tomorrow Saturday morning for a breakfast.

LSE: Tim, that’s good, I will be expecting you by 8am tomorrow in my house.

By 8am the following day, I was in his massive, intimidating house.
As I entered the premises I said a simple prayer: The God Almighty who is blessing LSE, please Daddy God be kind to me also in my entrepreneurship journey Amen.

That day the breakfast meeting went well. He wanted to see the man behind the ambitious vision of transforming the ICT education in Nigeria.

He saw tomorrow!

1 LSE First Intervention: Two years after I started my company, New Horizons, I ran out of cash, even to pay salary was a prayer item every 30th of the month. That was May, 2007 it remained just 72 hours for Heaven to fall on my head, metaphorically speaking, that is!

I needed N10M to stop HEAVEN FROM CRASHING ON MY HEAD!
Banks in Nigeria are irrelevant to Start-ups, except and until you START WALKING, Banks will not come to your assistance in Nigeria.
It is O.Y.O (On Your Own) for every Start-up. If you don’t have God 100% on your side, don’t dabble into entrepreneurship in Nigeria!

This is why over 80% of Start-ups failed in Nigeria. In America, it is about 50%.

LSE was in Abuja on this particular Thursday. I called him and requested to see him. He told me to come.

Our conversation went like this:

LSE: Tim, I know you are keeping well.

Tim: My chairman, I am strong in faith, but in reality, heaven is hot on my side o! I need help, Chairman.

LSE: What is the matter, Tim?
Tim: I need N10M soft loan to keep afloat. It is urgent, critical and time- bound.

LSE ok, Tim, see me on Monday (that meeting took place on a Thursday).

Tim: My chairman, I am not exaggerating the criticality of my situation. by Monday it would be too late because Heaven would crash on my head in another 72 hours without the N10M! And it would be all over.

LSE adjusted himself, he breathed in , he looked me straight in the eyes. I wouldn’t know what LSE saw in my eyes that day.

But he stood up, went to the inner room and he came out with his cheque book. He gave me an Access Bank cheque for N10M, which I later refunded 3 months later without interest.

I survived, heaven didn’t fall that day, glory be to God and thanks to LSE.

LSE intervention 2:

This time we had grown, having survived the ABIKU YEARS (The first 5 years of Start-up are the ABIKU YEARS, years of premature, sudden death. If you survive the first 5 years, your chances of living to celebrate your 20 years in business are bright). We did, all gratitude to God.

I got a business that required huge capital to execute- very big money, which was beyond my capacity.

I went to my destiny- helper again. He is never tired of seeing me. He picks my calls on the first ring. But I don’t abuse the access too. No frivolous conversations. No irrelevant calls. Every call is about matter and mission critical

This particular day LSE was looking extremely tired, having over flogged his body.

He told me he had been sleeping in the office for about 3 days, busy putting his papers together to enable him close a massive business deal, which he eventually got, after fighting like a lion whose cub was taken by a lone leopard!

LSE overwhelmed every opposition. He fought like Mohammed Alli, the world’s greatest boxer of all time. LSE won.
And that changed everything for him, too, forever. Fortune favours the Brave

Our conversation that day went like this:

LSE: Tim, congrats you are doing well, I can see. Indeed I instructed all my staff to make sure they read any article you published (“I felt flattered”).

Tim: Chairman, I need your help, KONGA is not ready to give me the products I needed on credit and I don’t have cash to pay and the client will not pay me until after 9 months.

Tough one, indeed.

LSE: Tim, I will be honest with you, there is no way KONGA would give you products worth N500M (10 years ago money!) on credit.

Indeed, we held a meeting on Monday over your matter, the resolution of the Zinox Group is that you must look for cash before you can get the products. Let me tell you, my staff made me to sign-off on our resolution that as the Chairman of Zinox , I, LSE will not go behind to do the opposite of what we all agreed to, and I signed. Tim, I am sorry, my hands are tied!

As of that time, some of the young people LSE helped disappointed him badly. So bad, some souls are ungrateful.

Tim: Chairman, I know some of the people you helped even went to the extent of wrongfully blackmailing you in the media. I know that for a fact.

But Chairman, I am different. I am Tim Akano, I won’t disappoint you.
I will remain eternally grateful if you can still think out- of -the box and help me out.

I added: Chairman, you recall you were the one who looked for me that you would give me a helping hand in life.
I think my last statement touched him.
LSE Tim, I will give you my personal cheque. Here is the cheque for you, take it to KONGA and pay for your goods to meet your deadline.

Tim On getting to KONGA, from my steps and tone, the staff knew something positive had happened.
I confidently presented my cheque to Loretta & Co, the lady managing our account in KONGA then
They were shell shocked that God pulled it through for me another time, using Leo Stan Ekeh.

There were many more positive interventions, which I will reserve for my memoir.

Lessons: The reason behind the rise and rise of Leo Stan Ekeh (LSE) has to do partly because of his massive generosity, most of them are done silently.
Yes, LSE is a shrewd businessman, but he has a heart of a butterfly.

2 LSE is unconquerable and himself and his lineage will remain so because of several lives he has impacted positively

3 We are all products of people’s generosity. No one is a self-made man. In my own corner, through the TIM AKANO FOUNDATION, I am giving back in thousands folds all the kindness I am enjoying from people like LSE & others. I’m not withholding any kindness from people who need it when it’s within my capacity. God saw my heart, too, that when he must have helped me to stand, I will light thousands of candles.

It was William Shakespeare who admonished his followers to tell him all the good things they wanted to tell him while he was still alive because tributes written in beautiful prose means nothing to a dead person.

I congratulate LSE children, they have a great father in and his legendary generosity will always speak for them up to the 4th generation., as the Holy Bible said. LSE children should be proud of their father, he is a Lion, an Eagle and a butterfly, (LEB) all together at the same time.

@LSE: Sir, if you manage to read this short public appreciation, which I was inspired to write in a wedding event (the couple is taking over one hour to come out, instead of joining people who are anxious, I decided to use my idle time to pay you this tribute today), I want you to feel proud of yourself; what you have achieved will take an average person 10 lifetimes to achieve.

Your positive numerous interventions in my entrepreneurship journey have germinated and I am also touching lives- like you- in thousands across Africa, not only in Nigeria, especially with regards to Youth Empowerment.

I am eternally grateful, my chairman, my destiny-helper.

My prayer for you my Chairman, LSE: The Lion, the Eagle, the Butterfly (LEB) is for God to keep you continuously in sound, divine health, peace and happiness- that you will still remain strong at 120 years of age like the Biblical Moses who miraculously escaped physical depreciation in his eyes, strength and mental magnitude.🙏

Gratitude!
Gratitude!!
Gratitude!!!

[email protected]


Kindly share this post
Continue Reading

General News

NITDA Wins Triple SERVICOM Honours for Citizen-Centred Service Delivery

Published

on

Kindly share this post

National Information Technology Development Agency (NITDA) has clinched three prestigious Service Compact with All Nigerians (SERVICOM) awards at the annual Ministry, Departments and Agencies (MDAs) Awards ceremony, earning acclaim for its outstanding citizen-centred service delivery.

NITDA Wins Triple SERVICOM Honours for Citizen-Centred Service Delivery

NITDA

The honours spotlight NITDA’s leadership in digital transformation and efficient public service, as evaluated by SERVICOM on key benchmarks of timeliness, transparency, and customer satisfaction.

NITDA Director General, Kashifu Inuwa Abdullahi, received a personal commendation plaque during the event, recognising his unwavering support and commitment to prioritising citizens in agency operations.

The agency also secured a Special Recognition Award from the SERVICOM Office, celebrating its sustained initiatives to bridge government and citizens through high-quality service delivery.

In a further mark of excellence, NITDA was named the 2nd Best Performing Public Service Unit (PSU) Team B within the competitive MDAs category.

SERVICOM Framework Drives Public Service Reforms

SERVICOM, established to enhance service quality across Nigerian public institutions, assesses MDAs based on rigorous standards that ensure responsiveness to public needs.

NITDA’s triple honours reflect its strategic focus on leveraging technology to streamline services, foster accountability, and promote inclusive digital governance.

The awards align with broader federal efforts to reposition public service delivery amid Nigeria’s push for digital economy growth.

NITDA’s Digital Leadership Under Spotlight
Since its establishment, NITDA has spearheaded national ICT policies, infrastructure development, and capacity building, positioning Nigeria as an emerging digital hub.

The agency’s SERVICOM success underscores effective implementation of the National Digital Economy Policy and Strategy (2020-2030), enhancing e-government services and citizen engagement.

Kashifu Inuwa Abdullahi’s leadership has been pivotal in initiatives like the National Centre for Artificial Intelligence and Robotics, alongside partnerships driving broadband expansion and cybersecurity.

These recognitions come amid NITDA’s ongoing campaigns for data localisation, digital skills training, and startup ecosystem support.


Kindly share this post
Continue Reading

General News

FCCPC Forces Ikeja Electric Into Compliance, Unseals Headquarters After Rights Breach

Published

on

Kindly share this post

Federal Competition and Consumer Protection Commission (FCCPC) has secured enforceable compliance from Ikeja Electric Plc, leading to the unsealing of the electricity distributor’s headquarters after regulatory intervention over consumer rights violations.

FCCPC Forces Ikeja Electric Into Compliance, Unseals Headquarters After Rights Breach

Ikeja Electric

The Commission had sealed the company’s headquarters on December 11, 2025, following its failure to comply with a directive of the Nigerian Electricity Regulatory Commission (NERC) to unbundle a Maximum Demand account into 20 individual accounts for a customer who had remained without electricity for more than two and a half years.

Following the enforcement action, Ikeja Electric entered into a binding undertaking with the FCCPC, committing to resolve all consumer complaints referred to it by the Commission within agreed timelines.

The FCCPC warned that any breach of the undertaking would trigger renewed and escalated enforcement under the Federal Competition and Consumer Protection Act (FCCPA).

The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the intervention underscores the Commission’s resolve to protect consumers and enforce regulatory decisions.

“Our responsibility is to ensure that consumers are treated fairly and that service providers comply with lawful decisions and directives. Enforcement is not an end in itself. Where compliance is achieved and credible commitments are made, the Commission will respond appropriately,” Bello said.

He added that the resolution reflects a firm but balanced regulatory approach.

“We intervene decisively where consumer harm persists, and we de-escalate where enforceable compliance is secured. What remains constant is our duty to protect consumers and uphold regulatory accountability,” he said.

The FCCPC said the outcome sends a clear signal that consumer rights violations will attract decisive regulatory action, while companies that demonstrate genuine compliance will receive proportionate responses.


Kindly share this post
Continue Reading

Trending