Connect with us


LG Electronics, Fouani Renovate School Building, Equip School with Solar Energy in Lagos



Kindly share this post

LG Electronics Nigeria, in partnership with consumer electronics retailer, Fouani Nigeria Limited has partnered to renovate and equip the United Christian Junior Secondary School building in Apapa, Apapa Local Government Area, Lagos State.

This joint effort will help to improve educational standards at the school by providing students with a modern, safe, and comfortable learning environment.

Speaking at the ribbon-cutting and commissioning ceremony held at the school premises, which brought together partner of LG Electronics, Fouani Nigeria Limited, representative of Lagos District IV Tutor-General/Permanent Secretary (TGPS), the school principals, Vice Principal Administration and Academics, Parents Forum Association of the School, students and members of the community, and Managing Director, LG Electronics West Africa Operations, Mr. D.Y. Kim noted that the renovation of the school is part of the firm’s commitment to quality education.

The organization, according to him, has embarked on multiple CSR initiatives and has in the past eleven years honed its yearly CSR strategy around socio-economic development, particularly equipping the health sector; capacity building and holistic education interventions across all levels, including young professionals; and general philanthropy where most needed.

He urged the students and management of the school to make good use of the facilities and guard them jealously so that they will serve the purpose for which they are provided.

“The youths are the future, and today’s youths are the first generation of those born and raised in a fully digital age. They are also key contributors to creating social value in the future, and for this reason, we need to really consider how we can provide these young talents with a growth-enabling environment and practical opportunities so that they can gain knowledge, improve their employment skills, broaden their horizons, and realize their value”.

He disclosed that the organization would be committed to helping nurture the future of the children by constantly sending professionals that would hold classes to educate them and motivate them towards an impactful future.

Also at the ceremony is Mr. Mohamed Fouani, the Managing Director, Fouani Nigeria Limited, said the school, which he said had been in existence before the organization started operating in the environment, deserves to benefit from the operation of the Consumer Electronics firm, which majors in Electronics—Home Entertainment and Home Appliances.

Stressing that the renovation was a priority for the company, he pledged that the company would do more and continue its quest across other aspects of the school.

Fouani said the inspiration behind the project is aimed at providing a conducive learning environment for schoolchildren, who are the future leaders.

“We are giving back to society. Most of us who are partners with the firm now obviously went to public schools, and then things turned around. Now everybody wants to go to a private school, and we just thought that it was important to put ourselves back where we came from.

Mr. Olumide Badmus, the principal of United Christian Junior Secondary School, who was full of excitement while responding, thanked the management of LG Electronics and Fouani Nigeria Limited for the gesture.

Mrs. Abosede Ajayi, the Director, Education Management Information Service, representing the Tutor General/Permanent Secretary Education District IV, noted that the gesture was one that will spur the students to be more dedicated to their learning, stressing that an investment in education is securing a better future for not only the benefiting individuals but for the country at large.

She promised LG Electronics and Fouani Nigeria Limited that the classrooms would be efficiently maximized

In his vote of thanks, the principal of the school, Mr. Olumide Badmus, said that he was delighted by the gesture done during his time.

“Out of the six schools in Apapa Local Council Development Area, this school was chosen to do this CSR project. I can boldly say that our school can now be put on par with most Lagos Model Schools; the students are better motivated and feel more comfortable”.

LG Electronics, in partnership with Fouani Nigeria Limited, renovated the school by restoring light to the classrooms, adding doors and modern windows, painting the school, rehabilitating the basketball court, making new seats for the classes, installing solar power, planting green plants, and equipping the home economics lab with products.

This renovation and equipping of the school building will help the students to receive a better-quality education and improve their learning experience. LG Electronics and Fouani Nigeria Limited are proud to be part of this important initiative and look forward to further developing the school’s infrastructure and educational resources.


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd


El-Rufai to Launch New $100m Firm in January



Kindly share this post

Nasir El-Rufai, former governor, Kaduna State has announced that his Afri-Venture Capital Company, a venture capital/private equity firm, will begin operations in 2024.

El-Rufai to Launch New $100m Firm in January

Nasir El-Rufai, former governor, Kaduna State

El-Rufai, in a post on X, said through the firm, he hopes to finance, nurture, and mentor Nigerian innovators and entrepreneurs to become the next Dangote Group shortly.

The former governor said he would be working with private sector partners, including Eyo Ekpo, co-founder of Excredite Consulting Limited, among others.

“I can confirm that our VC-PE firm, Afri-Venture Capital Company Ltd will by the Grace of God, begin operations initially in Abuja in January 2024 with Jimi Lawal, Hafiz Bayero, Eyo Ekpo and Kabir Yabo as founding directors and initial shareholders. I am privileged to be the part-time Chairman of the Board.

“Please, pray for our success and the Nigerian (and in the near future African) innovators and entrepreneurs we hope to finance, nurture, and mentor to be the Dangote Group of the future,” the former governor wrote on X.

The plan, he said, was to launch a $100 million venture capital fund for startups in Nigeria, particularly those in the Kaduna tech ecosystem, according to BusinessDay.

El-Rufai, speaking on his new firm and his plans,  said Nigerian youths need mentoring and financing to achieve the needed breakthrough.

“What young people need is essentially mentoring and financing to get things going. They develop the idea and see whether it is viable. And we will open doors for them because they don’t have contact.

“They don’t know or have access to ministers, presidents, or regulatory agencies. We do. We know the minefields that they have to navigate. We know that they need to give them appointments and we can provide them with the startup funding and in return we take an equity position.

“We don’t want to take your business; we want to develop it. But if we take the risk on you, we will take a percentage of the business,” El-Rufai told BusinessDay, in Marrakech, Morocco, in November during the Africa Investment Forum.

According to BusinessDay, El-Rufai is willing to stake $2 million of his money for the offtake of the ($100m) fund and plans to convince investors to provide the remaining funding.

“The investors will mostly be those who believe in us but don’t have the capacity or the time to do the analysis and evaluation. But they trust our judgment and they will come with us,” El-Rufai said.

Kindly share this post
Continue Reading


Deimos Announces Strategic Partnership with Cloudflare on Web Security and Performance



Kindly share this post

Deimos, a leading technology solutions provider in Africa, is thrilled to announce a new partnership with Cloudflare, Inc., the leading connectivity cloud company.

This strategic partnership marks a significant milestone in Deimos’ journey to become the leading cloud-native technology company on the African continent, while also reinforcing its commitment to driving innovation, security, and efficiency in the cloud services landscape.

This collaboration will serve as a catalyst for businesses seeking to bolster their online presence while safeguarding their digital assets from emerging threats. By integrating Cloudflare’s offerings and partnering with Deimos, African businesses can now use world-class technology while paying in their local currency.

This democratisation of advanced cloud services ensures that African businesses of all sizes, across various industries, including fintech, e-commerce, healthcare, education, can compete on a global scale while safeguarding their digital infrastructure.

“Today, we take another step towards our vision of becoming Africa’s premier cloud-native technology company. By combining Deimos’ extensive knowledge of the African market with Cloudflare’s cutting-edge solutions to make the Internet more performant, reliable, secure and private, we are empowering African businesses to thrive in the digital age,” said Andrew Mori, CEO Deimos. “This collaboration aligns with our mission to provide innovative and reliable technology solutions to businesses of all sizes across Africa.”

African businesses will benefit immensely from Cloudflare’s robust cybersecurity solutions, which protects them from threats like DDoS attacks, data breaches, and malicious bots.

This level of security is crucial for safeguarding sensitive customer information and maintaining business continuity, ensuring that companies can operate without disruptions or security breaches.

Furthermore, with Cloudflare’s extensive global network spanning 310 cities worldwide, African businesses can expect faster website loading times and reduced latency for their local and international customers.

This performance boost can lead to increased customer satisfaction and higher conversion rates, offering a competitive advantage in our fast-paced digital environment.

The Deimos-Cloudflare partnership represents a transformative force in Africa’s technology landscape, empowering businesses with state-of-the-art cyber security and performance solutions tailored to the unique needs of the continent. Together, Deimos and Cloudflare are paving the way for a new era of digital innovation, growth, and prosperity for African businesses.


Kindly share this post
Continue Reading


SERAP Tells Akpabio to Reject Wike’s Proposal in 2024 Budget



Kindly share this post

Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Godswill Akpabio, Senate president, to use his leadership position “to promptly reject the plan by Nyesom Wike, minister of the FCT, to spend N15 billion for the construction of ‘a befitting residence’ for Mr Kashim Shettima, vice president.”

SERAP Tells Akpabio to Reject Wike’s Proposal in 2024 Budget

SERAP also urged Akpabio to “assert Senate’s authority and constitutional oversight roles to reject the N2.8 billion on publicity for the FCTA and other proposed wasteful and unnecessary spending that may be contained in the 2023 supplementary budget and the 2024 budget proposed by President Bola Tinubu.”

In the letter signed by, Kolawole Oluwadare, SERAP deputy director ,at the weekend, the organisation said: “The plan to spend N15 billion on ‘a befitting residence’ for the vice president is a fundamental breach of the Nigerian Constitution and the country’s international anticorruption and human rights obligations.”

SERAP said: “The Senate has the constitutional duties to ensure that Mr Wike’s proposed spending is entirely consistent and compatible with constitutional provisions including his oath of office. All public officials remain subject to the rule of law.

“The National Assembly including the Senate has a constitutional responsibility to address the country’s debt crisis, including by rejecting wasteful and unnecessary spending to satisfy the personal comfort and lifestyles of public officials.”

The group added that, “The National Assembly cannot continue to fail to fulfil its oversight function. The Senate must assert and demonstrate its independence by checking and rejecting all wasteful and unnecessary spending by the executive.

“It would be a grave violation of the public trust and constitutional oath of office for the Senate to approve the plan to spend N15 billion on ‘a befitting residence’ for the vice president at a time when the Federal Government is set to spend 30% (that is, N8.25 trillion) of the country’s 2024 budget of N27.5 trillion on debt service costs.

“The Federal Government also plans to borrow N7.8 trillion to fund the 2024 budget. Nigeria’s public debt stood at 87.4 trillion naira as of June with 38% owed to external creditors including multilateral and commercial lenders.

“Should the Senate and its leadership fail to stop wasteful and unnecessary spending and rein in government borrowing, SERAP would consider appropriate legal action to compel the National Assembly including the Senate to discharge its constitutional oversight roles in the public interest.

“SERAP urges you to refer to the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other Related Offences Commission (ICPC) the allegations of corruption in the spending of the previously approved N7 billion for the construction of a new residence for the vice president.

“The ‘construction’ was reportedly abandoned but the whereabouts of the N7 billion remain unknown.

“The Senate has the constitutional competence and legitimacy to compel compliance with the Nigerian Constitution and the country’s international obligations.

“The Senate ought to assert its authority and vigorously exercise its constitutional oversight roles to check the apparently wasteful and unnecessary spending by Mr Wike especially given the growing debt crisis and the indiscriminate borrowing by the government.

“It is a travesty and a fundamental breach of the lawmakers’ fiduciary duties for the National Assembly to allow the executive to use the national budget as a tool to satisfy the comfort and lifestyle of public officials.

“Nigerians have a right to honest and faithful performance by their public officials including lawmakers, as public officials owe a fiduciary duty to the general citizenry.

“Cutting the N15 billion on ‘a befitting residence’ from the FTCA budget would be entirely consistent with your constitutional oath of office, and the letter and spirit of the Nigerian Constitution, as it would promote efficient, honest, and legal spending of public money.

“According to our information, the Minister of the FCT, Nysom Wike and the Federal Capital Territory Administration (FCTA) plan to spend N15 billion for the construction of ‘a befitting residence’ for the Vice-President, Mr Kashim Shettima.

“The plan is contained in the N67 billion FCT supplementary budget which President Bola Tinubu had on Tuesday transmitted to the National Assembly for approval.

“SERAP notes that Mr Wike proposed plan to spend N15 billion on a new residence for the vice president despite the recent allocation of N2.5 billion for the renovation of the current residence of the VP in the federal government’s supplementary budget already passed by the National Assembly and signed by President Tinubu.

“The House of Representatives has reportedly approved the plan to spend N15 billion on ‘a befitting residence’ for the vice president.

“The National Assembly has also approved another N3 billion for the renovation of the vice president’s residence in Lagos State. Mr Wike also plans to spend N2.8 billion on publicity for the FCTA.

“The proposed plan to spend 15 billion on ‘a befitting residence’ for the vice president is different from the


Kindly share this post
Continue Reading