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BCI Urges FG to Declare State of Emergency on Unemployment

Business Club Ikeja (BCI) has called on the federal government to declare state of emergency on job creation for the teeming unemployed youths in the country for the nation’s human capital development index to drive the economy.
Unemployment in Nigeria is one of the most critical problems the country is facing as unemployment Rate in Nigeria increased to 23.90 percent in 2011 from 21.10 percent in 2010, according to the National Bureau of Statistics (NBS)
Suleiman Tella, BCI’s president also deplored the current power supply in the country, insisted that the development has severe impact on the manufacturing sector and Nigerians.
He said “in order to nip the practice in the bud, the Federal government should consider declaring state of emergency in the job sector”.
“One of the ways to deal with this menace is to declare state of emergency in the job creation. Without job for the angry youths, the police can do little in its fight against crime.
“The time is ripe for the Federal government to reconsider creation of state police. State police is needed now more than ever as it will help to stem the tide of insecurity. Government should come up with more stringent penalties to punish individuals who engage in kidnapping, armed robbery, unprovoked murder and assassination as well as other heinous crimes against humanity so as to deter people from engaging in them”, he further said
The industrialist expressed disgust over the spate of insecurity in the country and disclosed that the development is caused by large scale youth unemployment in the land.
While calling on power sector investors’ to meet the necessary supply target that would boost the potentials of manufacturers in 2014, he also expressed dissatisfaction with the dwindling power generation capacity and said it far below the target set by the Federal government.
Lamenting further, he said “It is disheartening that despite the huge sum of money been sunk into the revamping of the ailing power sector ,no significant improvement has been felt by Nigerians”.
“We pray that the power sector now in private hands will live up to expectation as power represents a major challenge to the real sector and informal sector of the economy.”
Tella, who expressed these during an interactive session with newsmen organised by the association’s in Lagos.
The industrialist lamented that the power situation has not improved in Nigeria, despite the huge resources successive governments invested in the sector, challenging the Federal government to ensure that its gas master plan see the light of the day. The master plan is aimed at boosting electricity to the manufacturing sector and the people.
According to him, the Federal government must be up and doing to resolve all labour issues that may hamper complete privatization of the sector.
Tella, however expressed the need for all the grey areas in the petroleum industry bill currently before the National Assembly to be resolved and pass into law in order to spur the growth of the nation’s oil and gas sector.
News
Elumelu, UBA Chair Seeks Digital Sovereignty for Africa

Tony Elumelu, chairman, United Bank for Africa (UBA) and Heirs Holdings, has called on Africa to avow itself in the fast-evolving global technology landscape, calling for deeper partnerships, infrastructure investments, and recognition of the continent’s digital potential.

Tony Elumelu, chairman, United Bank for Africa (UBA) and Heirs Holdings,
Elumelu, who made this statement in a series of posts on his verified X handle over the weekend, questioned the continent’s current role in global tech innovation and value creation, noting that while technology is transforming the world, Africa risks being sidelined without urgent strategic action.
“We know technology is transforming our world, and the pace of transformation is accelerating. Where is Africa? Are we in the conversation, or are we being left behind?” Elumelu asked.
Citing Africa’s youthful, entrepreneurial, and digitally native population, Elumelu stressed the need for stronger global partnerships that empower African startups and tech developers to not only serve local markets but compete globally.
“Young Africans are digitally native, entrepreneurial, and hungry to build. What we need are more opportunities for partnership, more belief in our potential, and platforms to amplify our voices.
“Africa has led in digital banking and payments. Our value chains are ripe for transformation. Yet we need more investment, more platforms, and more belief in our potential.
“We know that many of the minerals that are techs’ foundation are found in Africa. But is Africa getting the benefit? Africa needs to capture the moment – ensure we have digital sovereignty – that African priorities are understood and met”
The UBA Chairman revealed that he attended an exclusive dinner with French President Emmanuel Macron and global technology executives at the Élysée Palace in Paris, where he sought to amplify Africa’s voice at the highest level of innovation discourse.
“I had enriching conversations with global tech CEOs, including the CEO of NVIDIA, Jensen Huang, on how innovation can and must solve humanity’s most urgent challenges—including those facing Africa,” he said.
Elumelu used the opportunity to advocate for the continent as the next frontier of global tech investment, calling attention to Africa’s unique demographics and the imperative for inclusive innovation.
Speaking further he said through his investment company, Heirs Holdings, remains committed to Africa’s digital transformation, actively backing tech ventures such as Heirs Technologies and Redtech Limited, which are building solutions tailored for the African market while competing on a global scale.
News
FG Urges Private Sector to Invest in Africa’s Space Future

National Space Research and Development Agency (NASRDA) has called on African businesses to seize the opportunities emerging within the rapidly growing global space economy, which is projected to reach one trillion dollars annually by 2030.
The appeal was made by Dr Matthew Adepoju, director-general, NASRDA, during a press briefing at the weekend in advance of the second Africa Space Economy Conference and Exhibition (ASEC 2025), scheduled to take place in Abuja from 17 to 19 June.
The event, organised in collaboration with the Abuja Chamber of Commerce and Industry (ACCI), will focus on the theme “Space Economy and Emerging Markets in Africa”.
Dr Adepoju highlighted that the global space economy is on the verge of surpassing $500 billion per year, making it the fastest-growing economic sector worldwide.
He stressed that Africa must position itself at the forefront of innovation, science, and technology by investing in space-related ventures.
“This is the Fourth Industrial Revolution and Africa must not be left behind.
“It is time for us to take our rightful place at the forefront of global innovation, science and technology, with space technology being the pinnacle of human endeavour.
“The space economy is the fastest growing economic sector in the world and it is projected to hit one trillion dollars per annum. Currently it’s more than 500 billion dollars annually,” he said.
The conference aims to foster collaboration between industry leaders, academic institutions, and research organisations, all working to strengthen Nigeria’s space ecosystem.
Dr Adepoju praised President Bola Tinubu for his forward-thinking economic initiatives, noting the President’s directive to transform NASRDA into a revenue-generating body.
NASRDA, he said, is now committed to fully commercialising and industrialising space research. The upcoming conference is expected to attract international participants, with confirmed interest from countries such as China, the United States, and several European and African nations.
The agency is also preparing for the launch of four new satellites—three optical and one Synthetic Aperture Radar (SAR).
These satellites are intended to support national security, environmental monitoring, and economic surveillance, particularly in sectors such as the blue economy and oil and gas.
Dr Adepoju encouraged private sector involvement in areas including satellite technology, data services, rocketry, and space-based applications.
He stressed that with Nigeria being Africa’s most populous country, there is already a significant market for space-related products and services, and now is the time for African businesses to build capacity, invest locally, and retain economic value.
Speaking on behalf of Chief Emeka Obegolu, ACCI President, Mr Agabaidu Jideani, chamber’s director-general, noted that Africa has yet to fully tap into the space economy’s potential.
He pointed out challenges such as limited public awareness, infrastructure gaps, and evolving policy environments, but said these issues also present opportunities for innovation and investment.
“It was with this foresight that ACCI, through our Policy Advocacy Centre, in a strategic partnership with NASRDA, conceptualised the ASEC,” he said.
Dr Haruna Mohammed, co-chairman of the Conference Organising Committee, reiterated that the event is aimed at the private sector and will showcase how space-based technologies can aid in economic diversification, enhance infrastructure, and promote sustainable development across the continent.
News
Schneider Electric Ignites Innovation in Africa with New Hub

Schneider Electric’s newly launched innovation hub is set to benefit not just large corporations, but also local communities, start-ups and learners from technical, vocational education and training (TVET) colleges.
This is according to Canninah Dladla, Schneider’s first female cluster president for English-speaking Africa, speaking at the launch of the hub over the weekend at the company’s headquarters in Midrand.
The hub builds on Schneider Electric’s global strategy to bring its technology closer to its customers on the African continent, while reinforcing its leadership in sustainability, innovation and digitisation, according to the company.
This African hub is part of Schneider Electric’s global network of over 40 registered innovation hubs, and provides an interactive environment where visitors can explore the company’s integrated solutions across key segments, including energy solutions, industrial automation, building solutions as well as power and grid solutions.
“We are building an ecosystem that thrives on collaboration, innovation and relevance to the African context; one that values local talent, fosters local partnerships and drives local solutions. The innovation hub enables us to create a truly dynamic experience that embodies Schneider Electric’s purpose: enabling all to maximise energy and resources while bridging progress and sustainability,” said Dladla.
“Indeed, Africa holds immense potential, and this hub is designed to help our customers and partners unlock it through digitalisation, innovation and collaboration.”
During the event, Dladla highlighted the company’s commitment to Africa’s energy future, emphasising the need for innovative solutions to address energy challenges on the continent.
“There is more to this building launch; it is unveiling our commitment to Africa’s energy for the future. Everybody, including local media, talks about Africa’s energy issues and problems. But maybe it’s about time we stopped talking about issues and problems and come with solutions.”
Walid Sheta, president of the Middle East and Africa at Schneider Electric, said the hub is made for all Schneider’s partners, colleagues and customers, adding that everyone is invited to visit and learn how the technology drives sustainability and efficiency.
“We believe our software solutions and digital offerings will shape the future for our customers. With technology like AI and sensors, we can detect issues like leaks in pipelines or equipment failures before they happen.
“This helps prevent losses, reduce emissions and keep production running smoothly. It’s already being used in various industries, like refineries, power plants and even buildings, to optimise performance and predict potential problems,” he said.
Speaking at the launch, Dr Anna Mokgokong, Schneider Electric South Africa chairperson, stressed the need for businesses to adapt and innovate in today’s fast-changing landscape. She highlighted the significance of the agriculture sector, acknowledging its challenges, and pointed out that Schneider’s automation solutions could address the sector’s challenges
Mokgokong, who also serves as a chancellor at the North-West University, said there is a need to integrate innovation in academic institutions.
“We should focus on equipping students with in-demand skills, allowing them to gain practical experience and build connections with companies like Schneider through vacation work. This way, by the time they graduate, they’ll have a competitive edge and be more likely to secure employment. It’s time for our universities and colleges to shift mindsets and prioritise quality education that meets industry needs.”
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