News
‘Projectizing’ Business Operations Helpful to Entrepreneurs – Odunfa
Starting a business is similar to executing a project. And in Nigeria’s vibrant entrepreneurial space acquiring effective business skills, like project management, in addition to applying technology to business operations might perhaps give businesses competitive advantage.
Although project manager roles have continued to expand into such areas as the business development arena where new projects are initiated through processes designed to obtain additional business for the organization, according to the Project Management Institute’s 2014 Pulse of the Profession report, organizations face a chasm between what they should be doing — aligning projects to their strategy — and what they are able to accomplish.
As a result, 44% of strategic initiatives are unsuccessful; although the report also indicates that projects aligned to an organisation’s strategy are completed successfully more often than projects that are misaligned (48% versus 71%).
Affirming this global business trend, Adedoyin Odunfa said that, information management expert and MD/CEO Digital Jewels, identified that projectizing the business activities, especially at startup stage, helps business owners manage operations better.
“A project management approach helps to manage business processes,” Odunfa said, “by breaking down business operations into smaller projects assigning tasks to competent people, and measuring results, entrepreneurs can run businesses more efficiently.”
Speaking recently on the Mara Mentor Talk Show, the Digital Jewels CEO added that information as corporate asset in today’s world requires entrepreneurs to understand how the information value chain works to succeed in business.
Thus, with the impact of technology on generating and applying tailored information to improve business and develop human capacities, perhaps entrepreneurs could have it easier by projectizing operations and utilizing technology in business.
The “winners [in business] will be those who use technology effectively,” she said, commenting on the impact of technology in business.
“The efficient use of technology helps build requisite database and corresponding automated functions, which assist modern day entrepreneurs to projectized business operations and manage risks,” Odunfa added.
Besides project management and technology, Mrs Odunfa, who is also a mentor on Africa’s largest entrepreneurship network, Mara Mentor, urged young Nigerians to build capacity and acquire knowledge about industries before venturing into them. She also implored young entrepreneurs to seek guidance from mentors.
“Nobody is going to tell you what to do,” she said, adding that young people must learn from the mistakes and successes of mentors.
Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).
The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million
Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.
The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.
In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN, described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.
“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”
Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.
He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.
Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”
A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.
The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.
Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”
News
FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations
In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.
The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.
Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”
Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.
TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.
Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.
Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
MTN Says New N6.98 USSD Charge Won’t Affect Airtime Recharge
Sofri Rejigs Digital Platforms for Better Customer Experience
DLM Group Unveils Innovative Sovereign Bond Backed Composite Notes
Study Reveals 7% of Industrial Organizations Tackle Vulnerabilities Only When Necessary
NITDA, NCFRMI Forge Strategic Alliance for Inclusive Digital Transformation of Displaced Nigerians
General News2 days agoNASRDA, Galaxy Space Firm Sign MoU on Satellite Connectivity
Telecom2 days agoOver 1m Nigerians Reached through MTN Staff’s Digital and Community Outreach
Telecom2 days agoMafab Gets 0724 Number Series, Launches Mcom 5G Brand
News2 days agoDBN Awards N13m in Grants to Tech Startups
Telecom2 days agoNCC to Name, Shame Telecom Infrastructure Vandals
News2 days agoFCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations
Telecom2 days agoWSIS Review: Nigerian ICT Leaders Urged to Shape Global Digital Future
E-Financial2 days agoBank Customers Petition CBN over Illegal Deductions, Demand Action