General News

Local Equipment Suppliers Should be Encouraged – Okafor

Published

14 years ago

September 11, 2012

Kindly share this post

Edwin Okafor is managing director of Adimo Electronics Limited – suppliers of telecommunication equipment.

A consummate entrepreneur with skills in electrical and telecom installations and networking engineering, Okafor decried low-patronage of indigenous firms in the thriving telecom business in Nigeria. He spoke to funmi ilesanmi.

What is Adimo?
We are into sale of networking equipment. We sell fibre optic cables and other equipment. We give private telecom operators the needed fibre backbone support.

The whole world is going fibre and Nigerians now enjoy telecommunication services. A lot of people now have internet in their homes and a lot of new things are happening.

With competition, tariffs are coming down and people also have easy access to internet services. A lot of private operators are investing in communications and it is no longer a mono-industry as it was in the days of Nitel.

You can see private operators giving internet access to people on their phones and they can browse the internet anytime, anywhere unlike before when we go to business centres to browse.

So the business is booming with our population advantage and thus, Nigeria can compete in the global telecom space.

Ghana had telecommunication services before Nigeria but we have surpassed Ghana by all standards. Nigeria’s telecommunications market is even growing at a faster pace than South Africa’s’ and by this we can compete globally because the business is here.

Adimo operates from two locations – Port Harcourt and Lagos; we are making plans to open a third office in Abuja.

Fibre to Home
Fibre to home is good but we do not have good roads here in Nigeria and if you must lay fibre, you lay it along the road side or make a path for it.

There is what the Lagos State Government calls Right-of-Way (RoW) and you must get this approval before you can lay fibre. In Ikoyi and Victoria Island, many people are connecting fibre to home because there is a laid down path where fibre can be laid but you cannot compare Victoria Island to Ajangbadi in case you want to lay fibre to home.

They might want to construct a new road and definitely the fibre must be pulled out. For example, the road construction from Orile to Mile 2; when the road was being constructed, all the fibres on the road were pulled out.

The Lagos State Government has created a link where these fibres will be channeled when constructing new roads.

The government created a very good channel for fibre on the newly constructed Bode Thomas road with very good manholes.

That is the way it is done in developed countries. They give space for fibre to home in case other communications links need to come in.

Challenges
The challenges are enormous. One is getting right of way to lay cables.

Secondly, some operators we supply fibre cables and other equipment delay in making payments. After supplying these operators with equipment, it takes them about one and half year to make payments.

They keep telling you that there is no cash flow but the banks do not want to hear that, the interest rate keeps running.

There was a time they wanted to pass a bill between the supplier and the buyer because they will give you an LPO that they will pay in 30 days.

This means that when you supply the equipment, you will be paid in 30 days but they do not meet up with this payment plan.

After supplying the equipment, it takes one and half ears for payment to be made.

That is our major challenge in terms of payment.
When you go to them for your money, they tell you no cash flow but the bank is not interest in that, your interest rate is running.

Private operators need to help us by maintaining the 30 days payment plan.

Another challenge is that indigenous companies seldom get jobs directly. Nigerians prefer colour-skinned people (that is, white men) to their country men.

Subsequently, jobs are preferentially given to Indians, Lebanese and other foreign companies.

For example, I saw a Chinese man slicing at Mile 2 but this is the kind of work our people should do.

We need to encourage our people not foreigners.

This makes our people lazy. After the jobs are given to them, they in turn come to us for one thing or the other and at the end of the day when you check the profit margin; it is nothing to write home about.

Again, if we travel abroad to their countries they cannot give you such jobs to do in their countries but they can do that here in Nigeria. This is unfair.

The government needs to encourage us; private operators also need to encourage us. In a networking business like ours, it is no hide and seek game.

Before these jobs are given to foreigners, verification need be done to ensure there are no indigenous companies with capacity.

You bring a calibrated paper, you bring a certificate of the equipment you use and if it is certified, the job should be given to indigenous companies.

Immediately the job is done, a series of test should also be carried out to determine if the job was well done. For example, if you slice a cable and it gives you high DB loss, there is no way you can manage it.

Definitely, you must know what gave you that high DB loss.

There is nothing like our people do not know the job. Telecommunications has been in Nigeria for a while and does it mean that for this number of years we have not trained someone who can slice cable?

Does it mean that for more than 10 years we did not train people who can do the job locally? That means we do not know what we are doing.

The banks are also not helping matters; the interest rate is on the high side.

To borrow money from Nigerian banks is as if you want to pluck the moustache of a live lion and this is causing us setbacks.

Before we started doing business in Nigeria we went to so many banks to help us but none of them agreed.

We were only able to get financial support from abroad and their interest rate is low compared to that of Nigerian banks.

Future of Telecommunication Equipment Supplies
That the 2010 World Cup and London 2012 Olympic Games were watched on the internet was the work of fibre optic cables and its high configuration switches. The whole world is going fibre now and it is being done fibre to home.

It is an emerging technology in Nigeria, many companies do not know about it, only multinationals know about it but a time will come when everyone will know about it.

There was a time when only Nitel lines were in use, nobody knew everyone would later carry about three phones.

Then some digital lines were bought for as high as N120,000, some analogue lines N60,000 while the 090 which was a mobile line was about N40,000 but this new technology is just unfolding, many people need to be enlightened to know that this is real.

Manpower Development
We outsource training of our engineers.

Young people troop in here daily in search of jobs, I encourage them and direct them to our training partners and if they excel at the training, both the technical aspect and the theoretical aspects, we can easily employ them.

There is what we call ‘contract staff,’ after the training we employ them as contract staff and if there is work to be done, we engage them.

We have both permanent and contract staff.

We make sure our contract staff do not stay idle. When we do not have jobs sometimes, we tell them to assist some other people who have jobs to be done.

There is no employment out there and young people want to work because the universities graduate thousands of students yearly.

Government and Patronage of Local Enterprise
Government should mandate these foreign companies to employ our people. For example, at first it could be 50 per cent indigenes to 50 percent foreigners but these foreigners when they work for the first six months, remove 20 per cent of them and fix 20 of our people.

When they work for one year, remove five percent of the foreigners and add your own people. That way our people can be gainfully employed.

That is a high diplomacy of how to go about it. But these foreigners after agreeing to this term employ 50 percent of our people but after the first month, these people are laid off and replaced with foreigners citing reasons of non performance.

How can a Chinese man slice cables when our people can do this.

The money is not coming from the foreigners, it is our money but this money is going to foreigners. We need to benefit from the money because it is our money.

Kindly share this post

General News

AfriStakes Unveils Platform to Connect SMEs with Investors

Published

2 days ago

April 18, 2026

Chike Onwuegbuchi

Kindly share this post

AfriStakes has launched a new capital platform in Nigeria aimed at linking African small- and medium-scale enterprises with a broad range of investors in a move to address persistent funding gaps across the continent.

In a statement, the firm said the platform would improve capital allocation by bridging the disconnect between available funds, investment-ready businesses, and viable opportunities.

The launch comes as many African businesses continue to face funding constraints despite the availability of capital within the financial system.

AfriStakes said structural barriers have limited access to funding, even as capital remains concentrated in traditional instruments such as fixed deposits, equities, and managed funds.

The platform enables businesses and investors to connect directly by creating profiles, listing funding needs, and identifying suitable investment partners.

According to the company, businesses can upload key documents and showcase their funding requirements, while investors can outline their interests and financial capacity.

Founder of AfriStakes, Henry Adebisi, said the initiative was designed to tackle inefficiencies on both sides of the investment market.

“In Africa, businesses suffer from low access to capital while investors suffer from low access to investable opportunities. With AfriStakes, we ensure businesses are properly prepared and positioned for investment, while investors gain the clarity and confidence needed to deploy capital effectively,” Adebisi said.

The company noted that a major challenge for many SMEs is not a lack of value but poor investment readiness, which affects their ability to attract funding.

AfriStakes said it addresses this gap by providing a structured framework that helps businesses present financial information, develop investment narratives, and prepare realistic projections.

The platform also offers support services such as due diligence, deal structuring, and preparation of investor-facing materials.

It added that the platform would facilitate capital inflow from local and international investors, including individuals, angel investors, diaspora investors, entrepreneurs, and institutional players.

Adebisi said the platform would promote efficient capital flow into businesses driving economic growth across Africa.

“Our vision is to build a system where capital flows more efficiently into real businesses that drive economic change. By positioning both businesses and investors for success, we enable stronger investment decisions and more impactful economic outcomes,” he said.

AfriStakes said it supports multiple funding pathways, including debt financing, equity investment, partnerships, and acquisitions.

The company added that the platform would promote transparency, inclusivity, and structured investment processes across the African business landscape, adding that the initiative positions AfriStakes as a key player in addressing the continent’s financing challenges by creating a bridge between capital and opportunity.

Kindly share this post

General News

LG MoodUP™ Refrigerator Adds Expression and Innovation to the Kitchen

Published

2 days ago

April 18, 2026

Chike Onwuegbuchi

Kindly share this post

The modern kitchen is no longer just a place to cook, rather where families gather, conversations happen, and lifestyles are expressed. Today’s homeowners want appliances that don’t just work efficiently but also reflect their personality and enhance their living experience.

This is exactly where the LG MoodUP™ Refrigerator stands out. Designed to combine innovative technology, customizable design, and smart entertainment, the LG MoodUP Refrigerator transforms the kitchen into a vibrant, expressive, and connected space.

A Refrigerator That Matches Your Mood and Lifestyle

Traditional refrigerators focus solely on storage and cooling. The LG MoodUP Refrigerator takes a bold step further by redefining what a kitchen appliance can be.

At the heart of this innovation are colour‑changing LED door panels that allow users to personalise their refrigerator’s appearance. With just a few taps via a smartphone app, you can effortlessly change the colors of the refrigerator doors to match your mood, décor, or occasion.

Whether you prefer calm neutral tones, vibrant colours for entertaining guests, or subtle lighting for a relaxed evening at home, the LG MoodUP adapts seamlessly.

Customizable LED Panels: Design Meets Technology

One of the most striking features of the LG MoodUP Refrigerator is its customizable LED door panels. These panels offer multiple colour options and lighting combinations, helping you create a kitchen that truly reflects your personality.

Why This Matters for Modern Homes

Enhance kitchen aesthetics without renovations
Allows you to refresh your space instantly
Creates a dynamic, stylish focal point in the kitchen
Ideal for design‑conscious homeowners and young professionals

In Nigerian homes where kitchens are increasingly becoming open, social spaces, this feature adds a unique blend of style and innovation.

Built-In Bluetooth Speaker: Entertainment at the Heart of Your Home

The LG MoodUP Refrigerator goes beyond design by introducing entertainment into the kitchen. With a built‑in Bluetooth speaker, users can connect their smartphones directly to the refrigerator.

This allows you to:

Play music while cooking
Listen to podcasts or radio shows
Enjoy audio while hosting family or friends
Make daily kitchen routines more enjoyable

From meal prep to weekend gatherings, the kitchen becomes a more social and engaging environment.

Smart Technology for Smarter Living

LG is known globally for pioneering smart home solutions, and the MoodUP Refrigerator reflects this commitment. Using LG’s intuitive app interface – LG ThinQ, users can control lighting, sounds, and certain settings directly from their smartphones.

This smart connectivity ensures:

Easy customization
Seamless user control
A modern, connected kitchen experience

For tech‑savvy Nigerian consumers looking to integrate smart appliances into their homes, the LG MoodUP Refrigerator fits perfectly into today’s digital lifestyle.

Designed for Style, Comfort and Everyday Use

Beyond its innovative features, the LG MoodUP Refrigerator remains a high‑performance refrigerator built for daily use. It delivers reliable cooling performance, efficient food preservation, and durable construction expected from LG appliances.

Key lifestyle benefits include:

Elegant, premium design
Reliable cooling efficiency
Smart functionality without complexity
A blend of practicality and visual appeal

This makes it ideal for homes that value both performance and style.

Why LG Continues to Lead in Home Innovation

LG’s approach to product development focuses on understanding how people live today and how technology can improve everyday moments. The MoodUP Refrigerator is a strong example of this philosophy, demonstrating that appliances can be both functional and expressive.

Rather than blending into the background, the LG MoodUP stands out as a lifestyle statement; one that reflects individuality, creativity, and modern living.

For anyone looking to upgrade their kitchen experience and embrace the future of smart living, the LG MoodUP Refrigerator delivers a bold and refreshing approach where your kitchen truly matches your mood.

For more information, kindly visit https://www.lg.com/africa/refrigerators/lg-gr-a24fdmmb

Kindly share this post

General News

Nigeria’s Human Capital Key to Global Competitiveness – NITDA DG

Published

2 days ago

April 18, 2026

Ugo Onwuaso

Kindly share this post

Kashifu Inuwa, National Information Technology Development Agency (NITDA), has emphasized the critical role of Nigeria’s human capital in driving national development and positioning the country for global competitiveness.

Nigeria’s Human Capital Key to Global Competitiveness - NITDA DG

The DG of NITDA, Kashifu Inuwa Abdullahi, alongside the Executive Secretary of the Almajiri Commission, Dr. Muhammad Sani Idris, with management team of both organisations in a group photograph at the end of the visit held at NITDA’s headquarters in Abuja

Speaking while receiving a delegation from the National Commission for Almajiri and Out-of-School Children’s Education at the agency’s headquarters in Abuja, Inuwa noted that Nigeria’s youthful and rapidly expanding population presents a unique opportunity at a time when many countries are facing ageing populations and declining workforces.

He explained that the global demand for technical talent is projected to significantly outstrip supply by 2030, creating a window for Nigeria to emerge as a major contributor to the global workforce.

According to him, “with the right investments in education and digital skills, Nigeria can transform its demographic advantage into a powerful engine for economic growth and global relevance.”

The NITDA boss stressed that the country has the potential to become a global talent hub and a net exporter of skilled professionals.

Reframing migration narratives, he described Nigerians in the diaspora as valuable national assets who contribute through remittances and knowledge transfer, noting that diaspora inflows remain one of Nigeria’s most stable sources of foreign exchange.

Drawing comparisons with India, Inuwa highlighted how sustained investments in human capital have enabled the Asian nation to produce top executives in leading global technology firms. He attributed this success to a deliberate system of talent development and global placement.

Addressing Nigeria’s out-of-school population, he said equipping millions of underserved individuals with digital skills could unlock vast economic opportunities and help bridge the global talent gap.

Central to this ambition, he said, is NITDA’s National Digital Literacy Framework, which targets achieving 95 per cent digital literacy nationwide by 2030.

The framework focuses on six key areas: device and software operation, information and data literacy, digital content creation, digital marketing, online safety, and problem-solving.

Inuwa further explained that digital skills could transform critical sectors such as agriculture and commerce.

Farmers, he said, can leverage digital tools and smartphones to improve productivity through data-driven decisions, while small-scale traders can expand their reach and boost income using online platforms.

On implementation, he unveiled the “Digital Literacy for All” initiative, which targets students, workers, and participants in the informal sector.

He also disclosed ongoing partnerships with global organisations aimed at training civil servants and strengthening institutional capacity.

The NITDA DG reaffirmed the agency’s commitment to collaborating with the Almajiri Commission to establish digital learning centres, develop training programmes in indigenous languages, and deploy instructors to Almajiri schools across the country.

Earlier, the Executive Secretary of the commission, Muhammad Sani Idris, commended NITDA’s efforts in promoting digital literacy, describing them as crucial to bridging Nigeria’s education gap.

He expressed concern over the growing number of out-of-school children, noting that the traditional Almajiri system—originally designed for Qur’anic education—has been weakened by years of neglect and socio-economic pressures.

According to him, many children are sent far from home without adequate care, exposing them to exploitation and insecurity.

Idris called for coordinated action among government, communities, and development partners to address the crisis, highlighting the trans-border nature of the Almajiri system and the need for strategic collaboration.

He also expressed optimism about deepening partnerships with NITDA to leverage digital innovation in expanding access to education and creating better opportunities for millions of Nigerian children.

Kindly share this post