General News
Leo Stan Ekeh Foundation’s 1,000 Tech University Scholarships Now Live for Nigerian Indigent Whizkids
The much-anticipated 1,000 Tech University Scholarships for Nigerian Indigent Whizkids, powered by the Leo Stan Ekeh Foundation and supported by TD Africa, Konga Group, Zinox Technologies, and Task Systems, is now officially live, opening a transformative pathway for brilliant young Nigerians seeking a future in technology.
Leo Stan Ekeh Foundation
The scholarship initiative, which was first announced by Leo Stan Ekeh, Africa’s foremost technology entrepreneur and chairman of Zinox Group, is designed to empower indigent but exceptionally gifted Nigerian students to study Computer Science and other technology-related disciplines in federal and state universities, as well as polytechnics, across the country.
Interested applicants can now visit Konga.com and click on the “1000 Tech Scholarship” banner, where all relevant information and application guidelines are available.
The initiative was inspired by Ekeh’s decision to mark his 70th birthday in an unconventional yet impactful manner. Rather than host an elaborate celebration, the serial digital entrepreneur and Forbes-recognised tech icon chose to invest directly in Nigeria’s future as a way of giving back to the corporate institutions and Nigerians who supported and trusted his business startup from its early stages and have continued to patronise his businesses over the years.
For decades, Ekeh, a recognised tech disruptor and a notably private personality, has remained a major force in the continent’s digital ecosystem.
He pioneered indigenous computer manufacturing through Zinox Technologies, ICT Solutions through Task Systems, drove technology distribution through TD Africa, and transforming e-commerce with Konga.
Through his businesses and philanthropic efforts, more than 6,700 Nigerians have reportedly benefited from technology training and empowerment initiatives championed by him over the years.
According to stakeholders behind the programme, the scholarship initiative goes beyond financial support and represents a strategic investment in Nigeria’s digital future.
Beneficiaries will enjoy full scholarships covering tuition, accommodation, and monthly stipends. In addition, they will undergo intensive holiday training focused on strategic self-development and digital skills designed to prepare them for global opportunities upon graduation.
Globally, the impact of technology on economic growth has become undeniable. According to reports by the World Bank and the International Finance Corporation, digital economies contribute more than 15% of global GDP, while countries that invest heavily in digital education and technology infrastructure consistently record higher employment rates, stronger innovation ecosystems, and improved economic competitiveness.
In Africa, the technology sector is projected to contribute over $1.5 trillion to the continent’s economy by 2030, with millions of digital jobs expected to emerge within the decade.
Nigeria, Africa’s largest economy and most populous nation, stands at the centre of this opportunity. However, experts have consistently stressed that the country’s ability to compete globally will depend significantly on how quickly it develops a new generation of highly skilled technology professionals.
It is this critical gap the Leo Stan Ekeh Foundation hopes to bridge.
Beyond tuition support, beneficiaries will gain access to mentorship, industry exposure, and practical guidance from distinguished members of the Nigeria Computer Society and other technology professionals.
The initiative is structured to equip students with market-relevant skills, hands-on experience, and professional networks capable of positioning them for success in today’s rapidly evolving digital economy.
The scholarship programme also reflects a broader vision shared by its supporting partners (TD Africa, Konga, Zinox Technologies, and Task Systems) all of whom have played significant roles in shaping Africa’s ICT landscape over the years.
Industry observers believe the initiative could become one of the most impactful private-sector-driven educational interventions in Nigeria’s technology sector, particularly at a time when the country is aggressively pursuing digital transformation across education, governance, business, and public services.
As applications officially commence, organisers have assured prospective candidates that the selection process will remain transparent, merit-driven, and inclusive, with equal opportunities for qualified applicants from across Nigeria.
For easy access to the scholarship portal, application details, and participation guidelines, interested students are encouraged to visit Konga.com and click on the “1000 Tech Scholarship” banner.
Dangote Petroleum Refinery is reportedly nearing completion of a $2.5 billion private placement that values the company at about $40 billion ahead of its planned public listing.
Private placement is the direct sale of company shares or bonds to pre-selected investors instead of the general public and it is used to raise money quickly while avoiding strict public reporting rules.
People familiar with the transaction said investors acquired as much as 6 per cent of the refinery, according to a BusinessDay report.
The reported terms would value the business at approximately $40 billion.
Neither Dangote Group nor the refinery has publicly announced the final amount raised, the identities of most subscribers or the precise percentage sold.
The figures should therefore be treated as transaction details supplied by unnamed sources rather than confirmed company disclosures.
The reported $2.5 billion total is nevertheless significant as it indicates strong demand for exposure to a privately controlled refinery that has rapidly become central to Nigeria’s fuel supply and an increasingly important exporter of petroleum products.
The placement was said to have attracted more demand than the available shares, allowing the company to secure substantially more than the amount initially associated with the fundraising exercise.
Femi Otedola, chairman, First HoldCo, is the only major participant publicly identified in the report.
He reportedly committed $100 million to the transaction and sold his investment in Geregu Power Plc to finance the acquisition.
Nigeria’s pension industry was also reportedly cleared to participate.
Access to more than $17 billion in retirement assets would broaden the refinery’s potential investor base beyond wealthy individuals and conventional institutional buyers.
Participation by Pension Fund Administrators would, however, require careful attention to valuation, liquidity and portfolio-concentration limits.
Retirement funds must balance the attraction of a large Nigerian industrial asset against their responsibility to protect contributors’ savings.
The implied $40 billion valuation represents investor expectations about the refinery’s future earnings rather than only the physical cost of constructing the facility.
Its ability to process 650,000 barrels of crude daily gives it a central role in supplying Nigeria and other markets, but its commercial performance remains connected to crude availability, product prices, exchange rates and regulation.
The refinery has struggled to obtain all the Nigerian crude it requires under the government’s naira-for-crude arrangement.
It has consequently purchased some feedstock internationally and recently moved local petroleum-product pricing into dollars to align sales revenue more closely with its foreign-currency expenses.
Those constraints will be important during any public offering.
Prospective shareholders will want greater clarity on crude-supply contracts, debt, operating margins, export revenue and the company’s relationship with Nigerian regulators.
It is also unclear whether the private placement involved newly issued shares, a sale by existing owners or a combination of both.
That distinction determines whether the reported $2.5 billion becomes fresh capital for the refinery or proceeds received by selling shareholders.
The transaction could provide a useful price reference for the planned initial public offering.
Federal government will next month launch Nigeria’s first national organized crime strategy to strengthen the country’s response to terrorism, cybercrime, human and drug trafficking, kidnapping, illicit financial flows, and other forms of organized crime.
Major General Adamu Laka, national coordinator of the National Counter Terrorism Centre under the Office of the National Security Adviser, disclosed this in Abuja during the validation of the strategy document.
He said the strategy provides a coordinated national framework for tackling organized crime through improved intelligence sharing, stronger collaboration among security agencies, and closer cooperation with the criminal justice system, civil society organizations, and international partners.
Major General Laka explained that the document was developed through a partnership involving the Federal Government, the United Nations Office on Drugs and Crime (UNODC), the United States Government, and other stakeholders.
Speaking at the event, Cheikh Toure, UNODC representative, said the strategy would strengthen Nigeria’s capacity to combat transnational crimes, including drug trafficking, cybercrime, human trafficking, kidnapping, and illicit financial flows.
Also speaking, Douglas Grane, acting director of the United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs, reaffirmed the U.S. government’s support for Nigeria’s efforts to tackle organized crime through stronger inter-agency and international cooperation.
Representatives of the National Institute for Strategic Studies, the Nigeria Financial Intelligence Unit, and the National Cyber Security Centre also endorsed the initiative, describing it as a major step towards improving Nigeria’s fight against organized crime.
FATE Foundation, with funding from the Citi Foundation, has launched the Youth Entrepreneurship Incubation Programme to equip young people in Nigeria with financial literacy and entrepreneurship skills.
Delivered through free, safe, and accessible platforms, the programme supports the incubation and scaling of youth-led enterprises, enabling income generation and job creation.
In October 2025, FATE Foundation was selected as a recipient of Citi Foundation’s 2025 Global Innovation Challenge to Accelerate Youth Employability. Joining the cohort of 50 organisations globally, the Foundation will receive $500,000 over two years to advance its youth employability initiative.
“We are excited to be selected for Citi Foundation’s 2025 Global Innovation Challenge,” said Ayomide Akindolie-Igwe, Executive Director of FATE Foundation.
“This support enables us to equip young entrepreneurs in Nigeria with the financial literacy and skills needed to build and scale sustainable businesses.”
The programme addresses youth employability by tackling Africa’s growing jobs crisis. By 2030, the African continent will be home to 40% of the world’s youth, and with one in three under 35 already unemployed, this initiative will support Nigerian youth with a two-phase approach. It begins with financial literacy training before progressing to entrepreneurship development, incubation support, and access to tools needed to build viable, job-creating businesses.
“Through this innovative initiative, FATE Foundation is supporting low-income Nigerian youth to develop essential financial and entrepreneurial skills using accessible platforms.
“This support is not just helping individuals to succeed; it is building a solid foundation for sustainable enterprises that will drive job creation and contribute significantly to our nation’s economic vitality. This initiative is empowering and investing in the future of Nigeria, one youth at a time,” said Nneka Enwereji, MD/CEO Citibank Nigeria Limited.
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