News
Economic Summit Makes Case for Innovation to Transform Nigeria

The WorldStage Economic Summit 2017 held at the Event Centre of the Nigerian Stock Exchange (NSE), Lagos on August 23, with the theme ‘Transforming Business and Economy Through Innovation’ has made a very strong case for innovation in the public and private sectors, noting that the first problem that the nation must solve before the economy can be transformed through innovation is leadership.
In the communiqué of the summit which was graced by top officials from the public and private sectors, it resolved that “Innovation is critical to business and economic advancement, it is not rocket science, it remains the key agent in transforming business and the economy of Nigeria.”
Other resolutions in the communiqué include that, “Innovation is about thinking out of the box and having the courage to implement new ideas; it requires commitment and zeal to do it.
“Failure is one of the driving forces of innovation, people should get used to progressive or positive failure for innovation to be accomplished.
“Development and application of innovation had helped to break the monopoly of some multi-national manufacturers who once dominated the Nigerian market.
“Nigeria needs knowledgeable leadership to solve its problems and can learn from the example of the United Arabs Emirate (UAE) which used to be mere transit point for travellers but has now become a hub of economic activities through innovation spurred by knowledge- driven leadership.
“Nigeria must emulate countries like Bahrain that provided infrastructure and facilities needed for economy to grow.
“Until leaders began to be responsible and do the right things, the country would continue to grope in the dark for redemption.
“It’s the duty of government to provide the space for business to thrive as innovation and creativity are vital skills required by entrepreneurs to transform their businesses.
“Entrepreneurs should consciously search for innovation as they analyse all the opportunities that present themselves before launching into them.
“Effective innovation must be ‘KISS’ compliant, which means (Keep It Short and Simple) and they must address 7Ps which are Product, Place, Promotion, Price, People, Process and Physical Evidence, but the 7Ps can only fly when innovation is applied to each of one of them.
“To build the Nigerian Brand requires conscious effort by the public sector and strong partnership with the Private sector.
“Innovation must be a tool to enhance processes and delivery and to fast track the process of Doing Business in the country.
“Except the status quo is broken in the Nigerian power sector, the economy will remain in comatose for a longer time to come.
“Nigerian power sector privatization was faulty and an uninterrupted power supply must not expect very soon, but the sector will only work when all Nigerians collaborate by killing corruption in the system.
“The woes bedevilling electricity production and supply in Nigeria include politicization, lack of policy continuity by successive administrations, biased reporting by the media and corrupt practices by the general public.
“Application of innovation had led to the discovery of a huge deception by the old order that declared a ridiculous figure of 6.75 million as number of electricity consumers in the Nigeria, as some two million more consumers had been added.
“Government must be consistent in its policies towards reviving the power sector as continuity in the implementation of government agenda is the only way out for Nigeria.
“With efforts by government to put Nigeria in its rightful position economically yet to yield the desired results after many years, all hands must be on deck for the nation to move forward.
“Government must formulate policies that will help the teeming number of young people in Nigeria unleash the potentials in them.
“The general public must be honest in all its dealing if the country is to move forward and the benefits of innovation not elude it.”
News
Firms Commit to Boost African Robotics Market

AfricAI and Micropolis Robotics have signed a multi-year exclusive distribution and deployment agreement, which marks one of the continent’s most significant robotics market entries.

Micropolis AI Robotics is a United Arab Emirates-based robotics manufacturer operating in autonomous systems, while AfricAI is a company building practical, revenue-driven artificial intelligence (AI) systems for African businesses, governments, and global partners operating in emerging markets.
According to the agreement, Micropolis Robotics named AfricAI as its exclusive continental partner, prohibiting direct sales, alternative distributors, and third-party agents from operating in the territory.
The partnership establishes AfricAI as the primary execution, localisation, and go-to-market platform for intelligent robotics in Africa’s industrial, security, logistics, and infrastructure sectors.
AfricAI said this exclusive mandate positions the company as the gateway for advanced autonomous systems entering African markets, ensuring regulatory compliance, local capacity building, and sovereign control over deployment frameworks.
The partnership, according to the two parties, moves beyond software- based AI into the realm of physical AI — intelligent machines capable of operating in complex, real-world African environments.
“This is not a collaboration, it is a market-shaping mandate,” said Fareed Aljawhari, CEO of Micropolis Robotics. “AfricAI now represents the exclusive gateway through which Micropolis technologies enter Africa. Their sovereign AI vision, operational reach, and regulatory fluency make them the only partner capable of executing at a continental scale.
Furthermore, the agreement enables AfricAI to integrate Micropolis’ autonomous robotics systems with AfricAI’s sovereign AI stack, resulting in AI-powered security and surveillance platforms, robotics-enabled logistics and port operations, industrial automation, smart infrastructure, and municipal robotics tailored to African operating conditions.
Initial deployments will commence in security, smart infrastructure, and logistics, with phased expansion across multiple African states as part of AfricAI’s broader continental AI, data, and intelligent infrastructure strategy.
The agreement also includes long-term performance-linked expansion rights, automatic renewals, and a defined localisation framework to support robotics deployment, workforce training, and skills transfer across Africa.
Prince Malik Ado-Ibrahim, executive chairman of AfricAI, said: “Africa does not need imported automation — it needs sovereign, context-aware intelligent systems. This exclusive mandate allows AfricAI to industrialise robotics deployment at scale while retaining control, compliance, and value creation on the continent.”
News
Subair: LIRS Won’t Raid Accounts – Unless You’ve Lost Every Court Battle

Lagos State Internal Revenue Service Executive Chairman Ayodele Subair Tuesday demolished online panic over alleged bank account raids, insisting the agency’s “Power of Substitution” targets only hardcore tax dodgers who have exhausted every appeal from tribunals to the Supreme Court over half a decade of disputes.

Ayodele Subair
Subair, speaking on Arise TV, shredded viral fears that LIRS would swoop on residents’ savings without warning, clarifying the mechanism under Section 60 of the Nigeria Tax Administration Act 2025 kicks in solely after assessments spark objections, reconciliations, demand notices, and a gruelling courtroom odyssey through High Court, Court of Appeal, and apex rulings.
The LIRS weekend notice had ignited fury by announcing enforcement via third parties – banks, employers, tenants, debtors – to claw back unpaid Personal Income Tax, Capital Gains Tax, Stamp Duties, and Withholding Tax from chronic defaulters holding funds or owing money to them, whether due now or accruing later.
Subair likened the process to a “long timeframe, not less than five years,” where recalcitrant bigwigs who stonewall every step become fair game, with LIRS directing agents like customers or partners to divert payments straight to the taxman in lawful settlement.
Far from arbitrary grabs, the chairman stressed it’s a final resort for “entirely recalcitrant” holdouts who ignore Notice of Refusal to Amend (NORA) and every olive branch, ensuring Lagos coffers snag rightful revenue fuelling the state’s bulging budget without shotgun raids on compliant payers.
As social media buzzes with defiance – “They can’t touch my account!” – Subair’s blueprint spotlights Nigeria’s tax evasion scourge starving subnationals of trillions yearly, with Lagos alone chasing billions in arrears amid federal revenue wars and economic headwinds squeezing the commercial capital’s 25 million souls.
Industry voices nod to the legality but plead for digital dashboards tracking disputes transparently, warning overzealous recovery could spook investors in Africa’s fintech and startup mecca already reeling from naira nosedives and grid glitches.
With LIRS poised to unleash the hammer on vetted violators, Subair’s clarion call aims to separate myth from muscle, bolstering Lagos’ IGR juggernaut that hit N815 billion last year while daring defaulters to test the full judicial gauntlet before crying foul.
News
NIGCOMSAT Adopts Government’s Performance System

Nigerian Communications Satellite (NIGCOMSAT) Ltd, in a strategic move to modernise its operations and foster a results-oriented workforce, has officially adopted the Federal Government’s Performance Management System (PMS).

The initiative, aimed at driving efficiency and institutionalising accountability, was marked by an intensive staff training program designed to align the agency’s operations with national performance goals and the Presidency’s vision for a digital-first public sector.
According to a statement from Stephen Kwande, the Agency’s acting head of Corporate Affairs, “the transition to PMS is a departure from historical evaluation methods. The new system is designed to provide real-time performance tracking and instill a stronger work ethic across all directorates”.
Welcoming participants, Mrs. Jane Nkechi Egerton-Idehen, managing director/CEO of NIGCOMSAT, represented by Abiodun Attah, executive diirector, Technical Services, described the adoption as “long overdue.”
She emphasised that the system is critical for ensuring that NIGCOMSAT contributes effectively to Nigeria’s broader digital economy targets.
In her opening remarks, Mrs. Chinwe Udogu, general manager, Human Resources Management, expressed NIGCOMSAT’s enthusiasm for the program, urging staff to dedicate themselves fully to the three-day training.
She noted that the exercise was pivotal in repositioning the company to achieve its highest aspirations.
The training consultant, Mrs. Njoku Chioma, said the program is expected to drive culture change, automate work processes, and strengthen institutional performance.
The three-day training, jointly organised by the Office of the Head of Service of the Federation and NIGCOMSAT Management, covers key themes including:
• Overview of the FCSSI25 as an institutional performance-driven Federal Civil/Public Service
• Service culture and workplace attitude in the Nigerian public sector
• Implementation of the Performance Management System in NIGCOMSAT
• Application of Artificial Intelligence tools to enhance performance in the Nigerian public sector
The move comes at a time when NIGCOMSAT is expanding its footprint, with recent initiatives like the 2026 SpaceTech Accelerator Programme and partnerships for grassroots digital skills training.
By strengthening its internal management framework, the agency aims to ensure that its technical advancements in satellite technology are matched by an equally efficient administrative engine.
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