Connect with us

E-Business

Lagos Agencies, Firms to Build Innovation Hubs

Published

on

Gov. Babajide Sanwo-Olu of Lagos State
Kindly share this post

Two agencies of the Lagos State Government and four firms have announced a partnership on the construction of five innovation centres across the state.

 

The initiative was designed to ensure capacity building, competitiveness and ecosystem among start-ups and budding entrepreneurs in the state.

 

Lagos State Parks and Gardens Agency (LASPARK), Lagos State Employment Trust Fund (LSETF), Versecom Limited, IHS Nigeria, Leadspace by Passion Incubator and Cisco Nigeria would build five innovation centres, including: energy and environment hub, financial inclusion centre, smart city and health initiative, agricultural hub; and logistics and mobility innovation centre. The hubs would be located in various public parks around Lagos.

 

Mr. Timilehin Odusina, co-founder/chief executive officer, Versecom Limited, said the consortium has constructed an energy and environment hub, a low–cost initiative at Rafiu Jafojo Park in Shasha, Alimosho Local Government Area.

 

According to him, the low–cost hub was created to tackle the cost of office and community barrier to business entry faced by most Micro, Small and Medium Enterprises (MSMEs) and freelancers in the country.

 

“This hub offers a seat at N1, 000 per day, 50 per cent to 80 per cent lower than current market rates. The hub is targeted at idea stage – pre-seed startups and freelancers around Lagos,” Odusina said.

 

Olaitan Ogunbiyi, sales director, IHS (Nigeria) Limited, explained that the energy hub would be officially launched on November 1, 2019 describing it as the first-of-its-kind in Nigeria, a feat that made IHS Nigeria the premier sponsor of this initiative.

 

“The hub will be open to everyone, but the community events, challenges, among others will be tailored only towards Energy and Environment startups. In addition to the 500-seat capacity dome, IHS Nigeria has funded the construction of an energy laboratory with equipment like transformer winder, oscilloscope and others in a bid to remove the barriers inhibiting innovation within the sector,” Ogunbiyi said.

 

Tosin Faniro-Dada, head, Startups, Lagos State Employment Trust Fund (LSETF), praised the firms for embarking on the partnership, assuring that the state government would continue to create enabling environment for businesses to thrive.

 

Versecom Limited, as the initiator would manage the partners, while LASPARK, as the operator of all public parks in Lagos, would regulate the partnership in collaboration with LSETF. Besides, LSETF, through its Lagos Innovates programme, would handle community engagements through its plethora of tech-focused programmes.

 

IHS Nigeria as the sponsor of the construction of the hub would work with Leadspace by Passion Incubator to manage the hub and help entrepreneurs build sustainable businesses, while Cisco Nigeria would support with Wi-Fi equipment for the hub.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Business

Report Shows Start-ups Fuel Innovations in Africa

Published

on

Kindly share this post

Bloomberg has released its second annual “25 African Startups to Watch” list, underscoring the growing influence of venture-backed innovation across the continent.

Published thursday, the list highlights companies building solutions in “environments where infrastructure or systems have failed to deliver.”

The featured start-ups build solutions to challenges such as accessing healthcare in Chad, moving goods in Kenya, securing loans in South Africa, and safeguarding borders in Nigeria.

Nigeria, South Africa and Kenya jointly lead with four companies each, reflecting the ongoing strength of Africa’s three most visible start-up ecosystems.

The 25 companies span 13 countries and sectors including healthcare, fintech, security, climate resilience, waste management, and transport.

Nigeria’s four startups are 10mg Health, Remedial Health, Sycamore and Terra Industries, covering areas from healthcare financing and pharmaceutical supply chain integrity to digital lending and defence technology.

South Africa’s contingent includes Omnisient, Amesect, AURA and Jem. Omnisient uses grocery purchase data and AI to extend credit to those outside traditional financial systems.

Kenya’s notable four include Zeraki, a school-data analytics platform partnering with Safaricom to reach secondary students across the country.

According to Bloomberg, a defining theme this year is the source of funding.

Nearly half of the total capital raised by these start-ups came from African investors, marking a shift from previous years when international capital predominantly drove early growth.

International backers such as 8VC, controlled by Palantir Technologies co-founder Joe Lonsdale, and Google continue to see value in investing in African companies, Bloomberg noted.

The report also highlights that start-ups across the continent almost doubled their debt fundraising in 2025, even as equity financing from venture capital firms declined.

Separately, the Start-up Ecosystem Report 2026 states that Kenya has overtaken Nigeria as Africa’s top startup investment destination, attracting $984 million in 2025.

Jennifer Zabasajja, Bloomberg Television’s chief Africa correspondent and anchor, highlighted the dual significance of the list, the variety of solutions being built and the growing role of African-sourced capital in backing them.

She noted that the list comes at a consequential moment, one shaped by global disruptions, from the conflict in Iran to sweeping cuts in US foreign healthcare assistance, that have made the case for African-owned capital more urgent than ever before.


Kindly share this post
Continue Reading

E-Business

NDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections

Published

on

Kindly share this post

Nigeria Data Protection Commission has warned that the growing misuse of personal data and digital platforms could undermine Nigeria’s democratic process ahead of the 2027 general elections.

NDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections

NDPC

The warning was delivered during the 2026 Press Week organised by the FCT Council of the Nigeria Union of Journalists in Abuja.

Speaking at the event, Vincent Olatunji, national commissioner and chief executive officer,  NDPC, who was represented by Itunu Dosekun, head of Media Unit at the commission, said disinformation and unlawful exploitation of personal data posed serious threats to credible elections.

The event had the theme: “2027 Election: Defending Democracy in the Era of Disinformation.”

Dosekun said the struggle for credible elections was no longer confined to polling units, noting that digital platforms had become major channels for manipulated narratives, fake news, propaganda and AI-generated misinformation.

According to him, the rapid growth of social media platforms, messaging applications and data-driven political campaigns has created vulnerabilities capable of influencing voter perception and weakening public trust in democratic institutions.

He warned that the abuse of personal data for political profiling and psychological targeting had become one of the most dangerous threats facing democracies worldwide.

“The misuse of citizens’ personal information carries serious social implications, especially for vulnerable groups who may not fully understand how their data is harvested, processed and weaponised online,” he said.

Dosekun noted that coordinated disinformation campaigns could inflame ethnic tensions, spread fear and discourage civic participation, particularly among young Nigerians.

He described the Nigeria Data Protection Act, 2023, as a critical legal framework aimed at protecting citizens against unlawful data processing and digital exploitation.

According to him, the law gives Nigerians greater control over their personal information while placing obligations on organisations, institutions and political actors to handle data responsibly.

Dosekun also called for stronger collaboration among political parties, media organisations, technology firms, civil society groups and citizens to promote responsible digital behaviour ahead of the elections.

He stressed the role of journalists and media professionals in combating fake news, fact-checking information and safeguarding public discourse.

According to him, protecting personal data should not only be seen as a privacy issue but also as a democratic responsibility necessary for maintaining public confidence, national stability and electoral credibility.

Stakeholders at the event emphasised the need for improved digital literacy, stronger regulation and increased public awareness to prevent the abuse of digital platforms during future elections.


Kindly share this post
Continue Reading

E-Business

Anthropic Raises $65 Bn to Expand AI Research, Innovation

Published

on

Kindly share this post

Anthropic, artificial Intelligence company, has said that  it has secured sixty-five billion dollars in a new funding round, raising the company’s valuation to about nine hundred and sixty-five billion dollars.

Anthropic Raises $ 65 Bn to Expand AI Research, Innovation

The development places the company ahead of its rival, OpenAI, maker of ChatGPT, which was valued at about eight hundred and fifty-two billion dollars earlier this year.

Anthropic, founded by former OpenAI employees and led by Dario Amodei, chief executive officer, has emerged as one of the leading firms in the global Artificial Intelligence industry.

The company is widely recognised for its advanced coding capabilities and generative AI models, particularly its AI assistant known as Claude.

Unlike some competitors focusing mainly on general consumers, Anthropic has concentrated on delivering AI solutions to enterprise and business clients.

The company also says it places strong emphasis on AI safety while expanding its products and services amid growing competition in the sector.

Krishna Rao, chief financial officer of Anthropic, said the new funding would support the company’s research efforts and help meet rising global demand for its AI technologies.

Reports indicate that the investment round attracted major Silicon Valley venture capital firms, including Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital.


Kindly share this post
Continue Reading

Trending