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Longing for Instant Gratifications Bane of Young Entrepreneurs- Adewoye

The survival of a small business post-gestation period hugely depends on the entrepreneur’s approach to overcoming the market realities, which must include overcoming cravings for instant gratification, says Olumide Adewoye, founder of Versacorp Global Concept Ltd.
Also, intending business owners must understand to focus efforts on developing quality product and critically assess the market to attract customers and engender growth, advised Adewoye, Generation Next Youth Empowerment Summit’s WhatsApp (Live) Chat on: “When What You Love Isn’t Paying Your Bills Yet…What To Do”, coordinated by Elbativeni Impressions and Consult.
Adewoye, a Chemical Engineering graduate of Obafemi Awolowo University, Ile-Ife and a Mobil Oil Producing Undergraduate Scholar coordinates efforts of other professionals in the company, said he saved 70% of his salary as a staff of a bank as seed capital to establish the Versacorp Global Concept Ltd.
His professional experience started ‘with a vision of what was possible’, and today cuts across both the manufacturing and financial sectors.
“I wanted to be a career person like everyone else when I was in school. However, while on an Industrial Training, I met a man that gave me a new perspective. I was in my 400 level. So when I came back I began to ask questions about all the equations we were taught in the classroom”, he told over 70 SME owners drawn from across the globe.
Adewoye said he had a product in mind but subjected it to market reality before scaling up.
“So I was producing manually with limited investment in equipment. I had little or nothing to lose. Again, I didn’t resign from my employment before starting out. If there was no real demand, I could stay on a little longer. After deciding on the product, I then invested a lot in how to produce cheaper than competitive products and still come up with something better.
“Whenever I saw an empty drum on the street, in my mind, I was thinking how it could be converted to a reactor. I had no money, but I had a very big vision. After graduation, I got a job in the banking sector. By then I knew I was going to be a business person. I already drew the plan of my proposed business with dates. My long term vision determined my interests.
“After working in the bank for four years, I voluntarily resigned my appointment to start my business full time. Every month I was saving at least 70% of my salary; using it to buy equipment little by little over the period of four years that I worked”, he disclosed.
During the chat coordinated by Destiny Ruth Obiakoeze; Chief Executive Officer of Elbativeni Impressions and Consult and Founder of Elbativeni Foundation Parent companies of the Youth Summit; the Entrepreneur agreed alongside over 70 participants who joined from across the world that ‘Excellent’ academic qualification is no longer a guarantee for suitable jobs or businesses, as ‘Excellence’ is not a strategy in today’s world anymore. It’s a minimum requirement. One, competition is keen. The truth is that we are all competing every day.”
Accordingly, working with a company prior to starting yours has a lot of advantages. A strategy list would be: Know what your purpose is. Know it early enough. Determine the requirements needed to actualize your purpose. Invest in personal development and resolve to pay any sacrifice needed to bring your vision to reality.
Adewoye also advised young people to shun sacrificing learning enduring life lessons on the altar of instant gratification. “The lessons and skills can make you more than the salary,” he said, I know of a man that was employed as one and today he’s a multi-millionaire. He later established his own farm using the knowledge and skills acquired and owns lots of properties around. I have employed a few farm workers in my farm 99.99% of them discuss things like food, phone, clothes, etc with me.
“They don’t see it as an opportunity for them to learn something they can later set up. They want to save enough to buy an android phone from their current Nokia phone. They want to buy new shoes. Unfortunately, most of today’s youth are suffering from the same thing. People who are unemployed possibly use better gadgets than some of us in business. If they are passionate enough, they should deny themselves of those things and channel the money to fund their future. As a bank employee, I wore a suit for 3 years!”
In a contribution, one of the participants Daniel Okpechi said, among other things, “we have authenticated the impression that success is a moving target, the more you aim, the further it advances. Let your last aim not be your final aim. Even if you had failed previously, don’t be discouraged by the pain of failure, because your capacity has inadvertently improved. Try again, and again, because Thomas Edison rightly observed that ‘Many of life’s failures are people who did not realise how close they were to success when they gave up”. A wise man said that ‘knowledge is power’, but I beg to slightly differ from that popular belief. The truth is; knowledge is just potential power!
“Just as the energy in your power bank is useless unless you plug it to your phone, the same way the knowledge we have gained from Mr. Olumide today will lie fallow unless we apply it to solve problems. For it is only then that the potential power can be converted to kinetic power to produce results.
“For those who are waiting for the perfect time, the time might never be perfect because even life itself is not perfect. A Chinese adage says “the best time to plant a tree was 30 years ago, another best time is now”.
“Let that fear of uncertainty not cripple us from adventure because, over 90% of our fears never happen and everything that you have ever wanted is on the other side of fear. Remember: Action cures fear! If you do the things you fear, fear will die naturally”.
This Live Chat is one of many expected virtual series leading up to ‘The Generation Next Youth Empowerment Summit’ (a youth Summit that serves as incubation to growth in life and business with a vision to identify that latent power – passion, inborn in youths, building Leaders) which will hold its 3rd Edition later in October this year in Abuja, Nigeria.
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Okonjo-Iweala Urges Nigeria to Shift from Importing Tech to Local Manufacturing

Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation, WTO, has urged Nigeria to move decisively beyond importing technology to manufacturing it locally, warning that sustained dependence on foreign technology weakens the country’s industrial base and constrains job creation in the digital economy.

Speaking at Ahmadu Bello University, ABU, Zaria, Okonjo-Iweala said the current disruption of the global order, driven by technology, geopolitics and climate pressures, presents both serious risks and unprecedented opportunities for Nigeria and Africa, if they are prepared to act strategically.
“It is always a pleasure to come home to Nigeria, but it is particularly special to be here at one of the country’s most important seats of learning,” she said, stressing that universities such as ABU must remain central to Africa’s technological, industrial and economic transformation.
Tracing Nigeria’s post-independence journey, Okonjo-Iweala recalled that at independence in 1960, the country had only one degree-awarding institution, making the rapid expansion of universities a critical pillar of nation-building.
She noted that institutions such as ABU laid the foundation for Nigeria’s scientific, technological and entrepreneurial capacity.
Founded in 1962 as the University of Northern Nigeria, ABU has evolved into a multidisciplinary institution producing graduates across engineering, medicine, sciences, ICT, public administration and the humanities.
“Research conducted here has advanced the frontier of knowledge and offered practical solutions to real-world problems, from animal feed innovations during dry seasons to wind power generation in rural areas,” she said.
Turning to global trends, the WTO chief identified technology, particularly the internet and artificial intelligence, AI, as one of the most disruptive forces reshaping trade, production and employment worldwide.
“The technological shift we are experiencing has made it easier to communicate, produce and trade, but not everyone has shared equally in the gains,” she said, warning that automation and AI could deepen inequality if not properly managed.
She stressed that multilateral institutions and global trade rules must evolve to respond to emerging technologies such as AI and quantum computing.
“We need a new kind of multilateralism, one that is nimble, responsive and capable of addressing new global opportunities,” she said.
Okonjo-Iweala said Africa stands to benefit from what the WTO now describes as “re-globalisation”, the diversification of global supply chains away from over-dependence on a few countries.
She identified opportunities in labour-intensive manufacturing, critical minerals processing, renewable energy technology, pharmaceuticals, agro-processing and electric vehicle, EV, supply chains.
“Africa has the capacity to process its critical minerals all the way to EV battery manufacturing,” she said, pointing to Nigeria’s emerging lithium processing investments and vast renewable energy potential.
Reinforcing her call for local technology production, she said Nigeria must stop importing technologies it can manufacture domestically.
“Instead of importing solar panels, we should be manufacturing them here. That is how we create jobs, build resilience and grow our economy,” she said.
Okonjo-Iweala warned that Nigeria’s projected economic growth of 4.4 percent remains insufficient once population growth is factored in, calling for sustained growth of 6 to 7 per cent driven by productivity, technology and value addition.
She said achieving this would require strong digital infrastructure, skills development and innovation-friendly policies, alongside full implementation of the African Continental Free Trade Agreement, AfCFTA.
“Technology-enabled trade and deeper regional integration could increase intra-African trade by up to 45 per cent and lift millions of people out of poverty,” she said.
With Africa projected to account for about 25 per cent of the global working-age population by 2050, Okonjo-Iweala described Nigeria’s young population as one of its greatest technology assets.
“On an ageing planet, Africa’s youth represent the world’s future talent pool,” she said, urging universities, policymakers and the private sector to better align education, innovation and industrial strategy.
She, therefore, called for stronger collaboration between academia, industry and government to ensure Nigeria does not miss the opportunities created by global technological disruption.
“This country has what it takes. What we need is urgency, coordination and the courage to invest in our people and our ideas,” Okonjo-Iweala said.
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Stanley Amandi, Nollywood Actor Arrested over Alleged Coup Plot against Tinubu

Stanley Amandi, veteran Nollywood actor and filmmaker, has been arrested by the Nigerian military over his alleged role in a foiled coup plot to overthrow President Bola Tinubu’s government, according to an exclusive report by Premium Times.

Stanley Amandi, Nollywood Actor
The filmmaker, also a former chairman of the Actors Guild of Nigeria (AGN) Enugu State chapter, was reportedly detained in September 2025 alongside several military officers accused of planning a violent overthrow, including potential assassinations of top officials, according to the newspaper’s sources.
Reports indicated that the coup plotters planned to wholesale assassination of top government officials including President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, and Speaker of the House of Representatives Tajudeen Abbas, among others.
On Monday, the Defence Headquarters confirmed the plan to illegally oust the Tinubu administration, saying the indicted officers will be arraigned before military judicial panels.
In its statement, the Defence Headquarters said the investigation has been completed and forwarded to “appropriate superior authority in line with extant regulations.”
According to the military, the investigation was “comprehensive” and conducted in line with established procedures, examining “all circumstances surrounding the conduct of the affected personnel.”
The military disclosed that the findings identified “a number of the officers with allegations of plotting to overthrow the government,” describing such conduct as “inconsistent with the ethics, values and professional standards required of members of the Armed Forces of Nigeria.”
Mr Amandi has featured in many Nollywood movies and is known for his work as an actor, production manager and director.
His notable works include “The Album,” where he served as director; “Tiger King,” where he also served as director and produced in 2008; “Cornerstone,” produced in 2019; and “Once Upon a Dream,” in which he appeared as an actor in 2024.
Mr Amandi’s last Instagram post was on 19 September 2025, shortly before his arrest.
News
Firms Commit to Boost African Robotics Market

AfricAI and Micropolis Robotics have signed a multi-year exclusive distribution and deployment agreement, which marks one of the continent’s most significant robotics market entries.

Micropolis AI Robotics is a United Arab Emirates-based robotics manufacturer operating in autonomous systems, while AfricAI is a company building practical, revenue-driven artificial intelligence (AI) systems for African businesses, governments, and global partners operating in emerging markets.
According to the agreement, Micropolis Robotics named AfricAI as its exclusive continental partner, prohibiting direct sales, alternative distributors, and third-party agents from operating in the territory.
The partnership establishes AfricAI as the primary execution, localisation, and go-to-market platform for intelligent robotics in Africa’s industrial, security, logistics, and infrastructure sectors.
AfricAI said this exclusive mandate positions the company as the gateway for advanced autonomous systems entering African markets, ensuring regulatory compliance, local capacity building, and sovereign control over deployment frameworks.
The partnership, according to the two parties, moves beyond software- based AI into the realm of physical AI — intelligent machines capable of operating in complex, real-world African environments.
“This is not a collaboration, it is a market-shaping mandate,” said Fareed Aljawhari, CEO of Micropolis Robotics. “AfricAI now represents the exclusive gateway through which Micropolis technologies enter Africa. Their sovereign AI vision, operational reach, and regulatory fluency make them the only partner capable of executing at a continental scale.
Furthermore, the agreement enables AfricAI to integrate Micropolis’ autonomous robotics systems with AfricAI’s sovereign AI stack, resulting in AI-powered security and surveillance platforms, robotics-enabled logistics and port operations, industrial automation, smart infrastructure, and municipal robotics tailored to African operating conditions.
Initial deployments will commence in security, smart infrastructure, and logistics, with phased expansion across multiple African states as part of AfricAI’s broader continental AI, data, and intelligent infrastructure strategy.
The agreement also includes long-term performance-linked expansion rights, automatic renewals, and a defined localisation framework to support robotics deployment, workforce training, and skills transfer across Africa.
Prince Malik Ado-Ibrahim, executive chairman of AfricAI, said: “Africa does not need imported automation — it needs sovereign, context-aware intelligent systems. This exclusive mandate allows AfricAI to industrialise robotics deployment at scale while retaining control, compliance, and value creation on the continent.”
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