News
Ekeh, Zinox Boss Inspires Thousands @ RCCG Summit
Leo Stan Ekeh, serial digital entrepreneur and chairman, Zinox Group, has called on Nigerians to believe in the future of the country, noting that the world is currently in a knowledge century in which there are no barriers to wealth acquisition or achieving greatness.
He made this call at an economic summit organized by the Redeemed Christian Church of God, Christ Church Parish on recently.
With the theme – Economic Outlook and Prospects in Election Year, the summit saw Ekeh share his thoughts on Nigeria’s economy and the future of the digital industry culminating in a standing ovation at the end of his speech.
“You must anticipate the future. It is not static, otherwise you don’t have a reason to grow. The 21st Century is a knowledge century; it is one in which you have a right to be rich, even as an employee because if they under-pay you, you have a chance to get a better job,” Ekeh declared.
Leo Stan Ekeh
“If you are an entrepreneur, then you have a right to make mega-wealth. A lot of you are intimidated when you look at the profile of people like the Aliko Dangotes and Mike Adenugas but you forget that when a man is successful, you only hear the good side of their emergence but if you look back critically, you will see that their rise to the top was not an easy one. When you are psychologically defeated, you have lost the war.
“In life, you must take a conscious decision on who you want to be and if you are a human being and a citizen, you must add value to your environment, community or country. In the 21st Century, you decide who you want to be. The biggest problem with Africa is that our parents want us to make money the same way they did. It means we are all blind. If your father was a taxi driver, you cannot be the most popular taxi driver because today, we have Uber and other ride-hailing apps. But if you created an Uber, then you become the largest owner of commercial vehicles in the world.”
Ekeh who recently oversaw the acquisition of e-commerce giants, Konga from previous owners Naspers and AB Kinnevik followed by a combination of its operations with that of Yudala, declared his chosen field of technology as a leveler and the only profession in the world that can bridge the gap between the rich and the poor individuals and countries of the world.
“Technology is the only way the son of a poor man can become rich in the 21st Century and that is the only way the son of a rich man can consolidate the wealth of the family. You are a stupid, poor man if you cannot challenge the status quo. It was through technology that I transformed the media and multimedia industry and computerized them for the first time.
“Same way we helped create a reliable database of voters for Nigeria through the impressive work Zinox has done with INEC and which we have replicated in other African countries such as Guinea-Bissau. Today, we are currently looking to transit the country to e-Voting which will further go a long way in reducing post-election litigations,” he enthused.
Urging the members of the audience to retain their hopes in a brighter future for Nigeria, Ekeh encouraged the attendees to rise to the challenge and make a positive difference in their circumstances.
“Nigeria is a country with huge potential. There is a future here and no one has a right to stop you: government, individuals or even your father. You must build yourself as a collateral in order to succeed in life. The only way to build that collateral is to be a man or woman of integrity.
“In business, you must acquire a big dose of spirituality and always make provisions for your place of birth, in this case, where you do business. Many entrepreneurs transplant foreign technology or strategies here without considering our existential circumstances or the needs of the country.
“The challenges of your family or country are things that activate innovation and solutions. If you don’t disrupt, you die. In business, you must trade to lead or you get out of that platform. It is not child’s play. What made you rich will not make your child wealthy, unless they add digital style to it, which is technology. When I say we are in a knowledge century, it means no one can stop you from achieving success.
“The failure rate of startups in this country is about 75% and this is a shame to the quality of brains we have in Nigeria. The problem with most of the young people in tech – and this is one of the reasons most tech start-ups fail – is that they do more talking than content and they want to live large. You must incubate and grow. There are so many opportunities to generate creative wealth in the world today.
“Knowledge is open so you need to constantly read and learn but you must embrace humility and be ready to incubate for a period and be spiritually strong. Above all though, you must be close to God. Any successful man or a quality entrepreneur that is not close to God is not really successful.”
Among the many opportunities Ekeh referenced were digital security, digital lifestyle and growing dynamism in the e-commerce sector. He also disclosed his determination to invest in incubation centres to develop youthful talents through mentoring who will transform the fortunes of the nation.
Other speakers at the summit were Dr. Biodun Adedipe, Chief Consultant, BAA Consult; Mr. Abiola Ogunrinde, CEO, Tronica Natural Ltd and Dr. Mrs. Jumoke Oduwole, Senior Special Assistant to the President on Industry, Trade and Investment.
Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.
Atte Ayodeji
Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.
Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.
His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.
Sunday Dare, special adviser on Media and Public Communication to President Tinubu, celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.
“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
Mr. Joseph Tegbe, minister of Power, has said that the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases.
Mr. Joseph Tegbe, minister of Power
The minister told journalists during the media interactive session at the weekend that the government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting liabilities in the power sector.
He explained that the planned removal forms part of the broader reforms aimed at ensuring the long-term sustainability of the electricity sector, while tackling the financial challenges confronting the industry.
According to the minister, despite the planned subsidy withdrawal, there are no immediate plans to increase electricity tariffs, reassuring consumers that the government is not considering a tariff hike in the short term.
Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.
She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.
According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.
“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.
Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.
“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.
She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.
Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.
“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.
SERAP Asks Tinubu to Probe Alleged N6.79Bn Missing Police Funds, Firearms
FCT Court Awards Ex-Customers N15m against Stanbic IBTC over Data Privacy Breach
CBN Exposes over 13,000 BVNs Tied to Fraud as Banks Tighten Security
Atte, Nigerian Develops AI Algorithm for Hair Transplants
Dare Tackles Onaiyekan over Criticism of Tinubu, Says Economic is Working
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
From Scarcity to Scale: What Africa Can Learn from India’s Agricultural Transformation
BON Establishes Six Ad Hoc Committees to Modernize Broadcasting
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
Broadcasting3 days agoDavido Shares Past Suicidal Thoughts, Drops Oriadé Album
E-Business3 days agoHow Temu Helped a Madagascan Vanilla Family Business Sell Direct to Consumers Across Europe
News3 days agoCisco Explores AI for Nigeria Farmers
News3 days agoAfCFTA Urges Africa to Stop Exporting Raw Materials
General News3 days agoMTN Nigeria Posts N707.5bn H1 Profit, Declares N26 Interim Dividend
General News3 days agoGavi Okays $500m for Vaccines, PHCs in Nigeria
E-Business3 days ago82% of Organizations Concerned about AI Risks Even as Adoption Accelerates – Survey Reveals
E-Business3 days agoFG Must Consider Data Security, Sovereignty in 3MTT Initiative – Stakeholders