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FG Urges NITDA, NCC, Galaxy Backbone to Support Innovations of Nigerian Champions @ WSIS

The Federal Government has directed the National Information Technology Development Agency (NITDA), Galaxy Backbone Limited and Nigeria Communications Commission (NCC) to collaborate with the seven champions of the World Summit on the Information Society Forum (WSIS) which includes the winner of WSIS 2022 to ensure that their innovative solutions are of global benefits.

Professor Isa Ali Ibrahim (Pantami), the Honorable Minister of Communications and Digital Economy and Chairman of WSIS 2022, made this known in Abuja during the awards presentation ceremony of WSIS Champions for 2020, 2021 and 2022.
“I want to use this opportunity on behalf of Federal government of Nigeria to direct NITDA, Galaxy Backbone and NCC to look at your solutions and identify where you need support so that the solution will not just remain as a startup, but rather we want to build the solution here and becoming the tech giant at least in the next few years and this is our ambition”, the Minister said.
Prof. Pantami stated that he is hopeful after the three institutions of government have had sessions with the WSIS champions, they will have their performances reviewed and rendered support where necessary so that their solutions will go beyond where they are presently and be of global benefit.
He said the WSIS event, which took place in Geneva, Switzerland had technical sessions where youths around the world were challenged to submit their projects covering e-health, e-agriculture, e-education and other fields.
“The heads of the technical session presented their results to me in Geneva and I am glad to say that some of our young innovators emerged as the global winners and champions”, he said.
The winner for the WSIS 2022 Hackathon is Afrilingo by Franca Umasoye Igwe while the other six champions were, Association of Women in Technology in Nigeria by Martha Alade (2022); Initiative for Mothers with Cerebal Palsy Children in Nigeria by Rachael Inegbedion (2021); Top Up and Get Reward Limited by Samuel Babatunde (2021); Wizwish International Farm by Wisdom Ikpechukwu (2020); Chipsnbrain by Oluwaseyi Akinolu (2020); and Makerspace Project by Oreoluwa Lesi (2020)
Prof. Pantami said because there wasn’t any formal sessions for 2020 and 2021 due. to COVID-19, the winners and champions for the aforementioned years were presented their awards during WSIS 2022.
“Furthermore we are all aware that the Federal Government through the ministry and office of the Chief of Staff to President worked on the Nigerian startup bill which has already been passed by both arms of the National Assembly; we believe that in the next few days Mr. President will look into it and it will become a law.
He opined that when the startup bill is eventually passed into law, it will be among the major achievements of not only this administration but throughout the history of the Digital Economy and ICT in Nigeria.
“In that bill, there are provisions of so many benefits for our young innovators and startups, like pioneer status, grants, incentives, loans and also the law when approved will establish a presidential council where Mr. President will chair the council and he will be supported by the Vice President and the Minister in charge of the Digital Economy will be the vice-chair, where government, private sector and young innovators will come together; look into their challenges and Mr President will give directives there and then for the sector to continue to be very successful”, Prof Pantami.
The CEO, Afrilingo, Franca Umasoye Igwe thanked the Minister and Federal of Nigeria for the recognition.
While one of the WSIS champion Mrs. Martha Alade, Chief Executive Officer of Women in Technology in Nigeria appreciated the Honorable Minister’s effort to personally present their awards to them and not have them couriered which she said shows how passionate Prof Pantami is about startup and the ICT ecosystem in general.
WSIS is the largest ICT event where development of the sector is put in the front burner. All the 193 United Nation countries are members.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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