News
Aladekomo Urges NSE to Partner with Indigenous Tech Companies
Sir Demola Aladekomo, chairman, SmartCity Resorts Plc and Advisory Board member, TechPlus, has implored the management of the Nigerian Stock Exchange (NSE) to partner with indigenous technology firms and encourage them to be listed on the exchange.
Sir Aladekomo made the appeal when he led the leadership team of TechPlus to the NSE to ring the bell at the close of trading on Monday.
Aladekomo, who noted that technology has the power to change lives and economic fortune, stated that the efforts of tech start-ups need to be supported in order for Nigeria to able to create the vast amount of wealth needed for the country.
According to him, the richest companies in the world are technology companies and it is the tech start-ups who possess the biggest potential growth in the country, not the long-established companies that the exchange management are currently courting.
“Of the nine richest men in the world, six of them are into technology. The first, third, fourth, fifth, sixth and nineth richest persons in the world are into technology. The richest and largest companies in the world are mostly all technology companies. The mega billions are not going to come from the current companies you are targeting, they are going to come from the start-ups and technology related firms. If you are going to get the next set of billionaires in this country, not just in naira but in dollars, it’s going to come from the efforts of the start-ups and current firms in technology”, he said.
Advocating for a collaboration between the NSE and TechPlus, Aladekomo said TechPlus has one of the biggest technology platforms in Africa which can become the future enabler of the country’s economy if well harnessed.
He said’; “Of all the platforms we have in the country today, even on the continent of Africa, apart from the one in Rwanda, TechPlus is about the largest platform we have in Africa today that can increase the wealth of our nation.
“What I seek from the management of the NSE is a close partnership and a close relationship with TechPlus. We would like to strategically partner with you, to be with us at our events and interact with our young guys. This is the future and we are giving you the future. You coming in and working with us will make a lot of difference.”
Responding, the Executive Director, Market Operations and Technology, NSE, Mr. Ade Bajomo, said the management of the exchange, in recognising the role and impact of technology, has employed a significant usage of it into its market operations.
He expressed delight with TechPlus for their performance and said the NSE would provide a scope of partnership and support for the tech start-up company.
Bajomo said; “We know technology is an enabler. We do several things in the exchange, we regulate the market but we cannot do all of these without employing technology. We have also brought in significant use of technology into the market as within our ecosystem. If you look behind the scenes, what you would see behind the scenes is actually technology driven the market.
“We are really delighted about what you guys are doing. We know this is the starting phase, but we are extremely encouraged about how you have started and in any way that you need support, we will be very delighted to support you. We will certainly have a lot of scope in terms of collaborating further and finding innovative financial means to raise capital for those entrepreneurs.”
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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