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Chevron Nigeria Local Content Drive: A Credit to President Buhari and Dr. Pantami

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By Bode S. Ojerinde – Ph.D

I read with mixed feelings the piece on Chevron Nigeria and its firm belief and support for local content promotion, notably its many years of patronizing Zinox, an indigenous tech giant.

Mixed feelings because, on one hand, I was delighted and extremely proud of the management of Chevron Nigeria for shining the light, leading from the front and even showing the way to government, other sub-national entities in Nigeria, as well as the hordes of other multinationals operating in Nigeria.

The moving article equally made me proud to be a Nigerian because, most times, Nigeria makes the news for the wrong reasons owing to the actions of a misguided few. But to see a renowned, American-based multinational retaining a strong faith in the capacity of a Nigerian tech company, is something worth celebrating.

But on the other hand, the article also elicited some misgivings within me.
Here we are, hailing Chevron Nigeria, an American-headquartered multinational, for choosing a Nigerian brand ahead of other competing foreign brands, including a few known names from the country where it is based, but we can hardly find Nigerian government establishments and their agencies giving a similar fair chance to local businesses.

This was the biggest contradiction that hit me from that well-written article by a Nigerian US-based academic.

Thankfully, the company in question – Zinox – did not betray the trust reposed in it by Chevron Nigeria. It would have been a missed opportunity if Zinox had failed, maybe when it received the first supply contract from Chevron Nigeria, as I doubt that they would have had a second chance and that door would have been closed forever, even to other local players. Such is the merit-driven and highly competitive nature of the tech sector that it would have been virtually impossible for the management of Chevron Nigeria to consider entrusting its supply contract to Zinox for over 16 years without a strong justification.

We must begin to patronize and promote our best brains, rather than accord unnecessary privileges to foreigners. This is the only way we can employ our youths creatively and reduce security challenges confronting the nation.

I have not met Leo Stan Ekeh, the Chairman of the Zinox Group one-on-one but I have followed his landmark strides in the ICT sector. A huge inspiration, I recall when Haroun Adamu, a former Chairman of the Petroleum Trust Fund (PTF) described him at an event as a miracle child, a genius. He had told the story of how Leo Stan returned to Nigeria against the advice of his tutors in the UK, eventually leading the current wave of digital democracy that ushered the Nigerian printing and publishing industry into the next level by computerizing all the newspapers, magazines and book publishing establishments in the country.

According to him, Mr. Ekeh, who used to wear an afro back then as a young man, was like a pastor, an evangelist moving from city to city across Nigeria with a lot of energy, taking his message of digital evangelism to various parts of the country and transforming the landscape with his introduction of technology into the entire printing ecosystem.

Also, in 2001 or thereabouts, I was privileged to attend an oil servicing conference at Eko Le Meridien and during a short break, I was able to sneak into another event taking place at the same venue. The event, which had a long list of dignitaries, prominent Nigerians and even diplomats in attendance including the-then Vice President, Alhaji Atiku Abubakar, the Senate President at the time, Anyim Pius Anyim, many serving Ministers of the Federal Republic and Executive Governors, saw the hall packed full, with many people unable to even get in. That was the launch of Zinox and equally the first time I saw Mr. Ekeh from a distance.

I still recall the emotional gesture he made at that event which left many people in tears. Incidentally, it happened within the short period I spent in the hall. After tracing the history of Nigeria’s disadvantaged status as a country which many in the advanced world believe would not experience technology in the next 30 years, Mr. Ekeh had raised his right hand and declared that he was mentally, physically, financially and spiritually prepared to create an IT identity for Nigeria. That gesture got the hall charged and was a remarkable sight to behold. I left the place highly touched as I had to return to the conference I was attending. But that scene remained with me for a long time.

Same Zinox, a few years later, changed the face of Nigeria and other African countries’ elections by deploying digital democracy tools to aid the process.

Nigerian businessmen are not known to stick to one line of business. The majority are always on the lookout for the next big thing to invest in. However, Leo Stan is one man who has remained consistent in his chosen field of technology and his roadmap.
Therefore, it is hardly surprising that the same man, Leo Stan Ekeh backed by his team, has today achieved all he has in the tech sector.

It is gratifying, a sign of hope and a story that is worth telling, especially with the recent revelation of the long years of patronage from Chevron Nigeria, that this man has achieved so much with little or no support from government, still setting records, creating jobs and a bright future for millions of Nigerian youths.

I recall reading in the same article about Chevron Nigeria how well the administration of former President Olusegun Obasanjo supported local content drive. While I am aware that this was the case, government, at that time, was not really buying a lot of technology products as it was largely analogue in its processes.

There are thousands of Nigerians in the same technology sector who are struggling out there today. Many of them have quietly exited the sector after being unable to keep their heads above water. This brings into sharp relief the commendable efforts of Leo Stan as a shining light who has consistently built new successful businesses, while also expanding the Zinox Group for over 30 years. To see all these happen while not been able to count on the patronage of government is nothing short of a miracle.

Consequently, it was not strange when Zinox made the news early in 2018 with its acquisition of e-commerce brand, Konga. Nevertheless, many had queried the rationale behind Mr. Ekeh’s decision. For some, it was a suicide mission. I also understand that at that juncture, Konga was technically dead, as one of my cousins, who was a merchant trading with the business then, reliably informed me that, before the acquisition, the former managers of Konga had invited them to come and pick up their items warehoused with them. But a new story is being told about that e-commerce giant barely three years down the line. Today, that same Konga was recently reported to have broken a global e-commerce record, becoming the first African e-ecommerce company to turn profitable.

The Chevron Nigeria article represents another eye-opener and I wish to congratulate Zinox and, especially, Leo Stan Ekeh, for what he is building. He has done this for over 30 years without any hint of a scandal which is not an easy feat in a Nigerian business terrain that is prone to blackmail and betrayals. Perhaps, what has saved him from the minefield of subterfuge and the pull-him-down syndrome is the fact that many Nigerians are still analogue and Leo Stan is operating in a sector in which only a few Nigerians really understand.

I would equally like to appreciate the current administration led by President Muhammadu Buhari and the referenced Minister of Communications and Digital Economy, Dr. Ibrahim Pantami, a young man I admire, for their unequivocal commitment to Nigeria. I believe their clear signal is helping domestication in this sector and I advise other Ministers of the Federal Republic to emulate Dr. Pantami to create jobs for our educated youths and reduce security challenges caused by employment. I also urge them to concentrate some of their efforts in pushing our best talents forward.

Certainly, we must support and promote our best so that other emerging ones can be encouraged to outdo their feats, not only in the area of technology, but in other sectors as well. There have been a few surprises in the fintech sub-sector and in agriculture where some young Nigerians are leveraging technology in transforming the space.
However, there is no doubt that Nigeria lacks new model mentors and world class entrepreneurs in the mould of Leo Stan Ekeh.

The government must promote our best names, men and women whose rise to prominence is documented, people we know their background and their history and not fly-by-night entrepreneurs or undeserving foreigners.

It is by so doing that we can assure these patriotic/successful entrepreneurs of government’s support and encourage them to do more, inspire the next wave of budding entrepreneurs and contribute in building the Nigeria of our collective dreams.

Bode S. Ojerinde – Ph.D. wrote in from Lokoja, Kogi State


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NBC Boss Urges Content Ceators to Participate in DSO

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Mr. Charles Ebuebu, director General of the National Broadcasting Commission (NBC), has called on Nigerian content creators to actively participate in the country’s Digital Switchover (DSO), describing the transition as a major opportunity for visibility, revenue growth, and industry collaboration.

NBC Boss Urges Content Ceators to Participate in DSO

Mr. Charles Ebuebu, DG, NBC

Speaking as Special Guest of Honour at the induction ceremony of the Electronic Media Content Owners Association of Nigeria (EMCOAN) in Lagos, Ebuebu stressed that the success of the DSO depends on engaging content to populate the nation’s new digital channels.

“Without content, the DSO’s success would be incomplete. We are urging content owners to collaborate with the Commission to ensure Nigeria’s digital future is rich, diverse, and sustainable,” he said.

The NBC boss highlighted that the upcoming FreeTV Direct-to-Home (DTH) platform, along with its mobile applications, would provide content creators with nationwide reach, advanced analytics, and brand partnership opportunities.

Nigeria’s DSO, which marks the shift from analogue to digital broadcasting, is being implemented by the NBC using the Nigcomsat satellite infrastructure. The programme aims to deliver over 100 nationwide channels and expand access to Nigerians in remote areas via hybrid decoders, addressing long-standing infrastructure and funding challenges. The project, which has experienced delays since 2012, now has strong government backing and is scheduled for launch in April 2026.

Ebuebu commended EMCOAN members for their contributions to strengthening Nigeria’s creative economy and encouraged them to leverage the opportunities offered by the DSO to promote local stories, culture, and creativity on both national and global stages.

During the ceremony, EMCOAN honoured its distinguished members, naming Wale Adenuga, MFR, as Grand Patron and Mr. Yinka Adebayo as Patron.

Prominent figures in the broadcasting content industry, including Wale Adenuga, Opa Williams, Agatha Amata, Jibe Ologeh, High Chief Emeka Ossai, Debbie Odetayo, Amina Mohammed, and Frank Elaboya, attended the event.

Representing the NBC at the event was Mr. Ralph Akpan, director of the Lagos Zone, while EMCOAN president, Mr. Adeniji Omirin, MD of ADNOM Media, urged members to fully engage in the digital switchover.


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Canal+ to Cut Jobs as Part Sweeping Restructuring

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Canal+ is to cut jobs at MultiChoice as part of a sweeping restructuring plan aimed at stabilising the African pay-TV operator, following years of operational and financial pressure.

Canal+ to Cut Jobs as Part Sweeping Restructuring

The move comes alongside a planned $115 million capital injection, underscoring the urgency of efforts to revive the business after the French media group took control.

The planned layoffs are expected to form a core element of a broader cost-cutting and efficiency drive, as Canal+ seeks to streamline MultiChoice’s operations and improve profitability.

The restructuring signals a shift toward leaner operations, with a focus on eliminating redundancies and optimising the company’s cost base.

MultiChoice has struggled in recent years with declining subscriber numbers across key African markets, weighed down by macroeconomic pressures, currency volatility, and changing consumer behaviour.

The rise of global streaming platforms has intensified competition, chipping away at the company’s traditional pay-TV dominance.

Canal+’s intervention marks a pivotal moment for MultiChoice, reflecting a more aggressive approach to repositioning the business.

By combining fresh capital with structural reforms, the new owners are aiming to both stabilise short-term performance and lay the groundwork for longer-term growth.

The $115 million injection is expected to provide immediate financial relief, supporting operations and potential strategic initiatives.

However, the accompanying job cuts highlight the depth of the challenges facing the company and the scale of transformation required to restore competitiveness.


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Nigeria tops global rankings for USDT, USDC ownership

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Nigeria has ranked first globally in the ownership of the two largest stablecoins, Tether (USDT) and USD Coin (USDC), reflecting the country’s growing reliance on dollar-linked digital assets.

Nigeria tops global rankings for USDT, USDC ownership

USDT, USDC

Stablecoins such as USDT and USDC are designed to maintain a fixed value against the U.S. dollar, allowing users to store money digitally while avoiding the price volatility associated with cryptocurrencies like Bitcoin.

According to the 2026 Stablecoin Utility Report released by BVNK, about 59 percent of Nigerian crypto users hold USDT, while 48 percent own USDC, giving the country the highest combined ownership rate among all nations surveyed.

The report placed Nigeria ahead of several major economies, including Australia and India, highlighting the country’s strong adoption of dollar-denominated digital assets. Australia ranked second with 34 percent USDT ownership and 29 percent USDC, while India placed third with 30 percent USDT and 27 percent USDC holdings.

The study also examined adoption levels across other regions. Countries such as Colombia and Singapore showed strong usage of both stablecoins, while adoption levels were also notable in South Africa and the United States.

Other markets included in the analysis were Philippines, Thailand and Argentina, where stablecoin ownership has also increased significantly. Among European economies, the report said France and Germany showed moderate levels of adoption, while Latin American markets such as Mexico and Brazil recorded smaller but growing usage rates.

The United Kingdom also appeared in the ranking with modest levels of stablecoin ownership. The report noted that USDT ownership exceeds USDC in many countries, including Nigeria, Australia, India, Singapore, the Philippines, Thailand, Argentina and France.

However, USDC is often viewed as a more compliance-focused stablecoin because of its stronger transparency and regulatory alignment. In some markets, including South Africa, Colombia, Germany and Brazil, the report found that USDC adoption slightly exceeds USDT.

More broadly, the data suggests that stablecoin adoption is being driven largely by emerging economies rather than advanced financial markets. According to the report, countries such as Nigeria, Argentina and the Philippines are among the biggest users of stablecoins, where people increasingly rely on dollar-pegged digital assets to protect savings from currency volatility and facilitate cross-border payments.

 


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