General News
Prosellers Technology Can Check Kidnapping with Technology– Ologunleko
Adeniyi Ologunleko is the managing director of Prosellers, West Africa, frontline information and communications technology solutions provider.
He started his career as a sales representative in-charge of West African Market with Procter and Gamble, one of the leading consumer product companies.
He developed interest in ICT during his six years stay at MTN, from where he established Prosellers West Africa.
Ologunleko spoke to Chris Alu in Abuja on innovative solution provided by his company and other issues.
Technology Solution to Check Kidnapping
The Tramigo technology is a geographical position system (GPS) device and what it does is that, if you install it in a vehicle or any moving object, you can know the precise location of that object at any point in time.
The major advantage of Tramigo solution device is that it will return to you the exact location of the object or moving vehicle. What we did was to add a device into the technology that makes it useful in addressing the social menace in our society, and we discover that kidnapping and vehicle theft are some of the menaces. So now, with Tramigo, when installed in your vehicle, there is a button that is hidden in the vehicle which if you are driving and faces a threat of kidnapping or threat to your safety, you can quickly press the button and once you press the button, it is already connected to some of the security agencies, GSM system and your family members will get short message service alert system immediately.
Even up to ten people can get an SMS knowing your exact location at that moment. The message will indicate that you are having some challenges or attack. With distressed SMS alert, the security agencies can find ways of tracing down the kidnappers through the information received on their GSM phone, by so doing they can intercept the vehicle and they can trace the attackers and rescue you.
We also provide solar solutions and equipments. The solar technology we provide can provide back up power to devices, because power failure is one disadvantage that can frustrate business effort, so we adopt solar into our technology as back up for the devices to work very well.
Research and Development for Economic Advancement
Well Nigeria just like some other African countries have economic challenges such as poverty. This affects the ability of most citizens of countries in Africa to think which affects research; also the government finds it difficult to provide the kind of money needed for research and development. In most cases, it is thinking that leads to research or discoveries. In this regards, our academicians are still struggling to come out of the circle of poverty while we don’t even have scientists that can invent or embark on research. Government which is supposed to provide infrastructure to enable economic advancement and research is not living up to expectation. The environmental challenges makes R & D in Nigeria difficult, for instance, ICT parks and equipment, we don’t have them, so it is really difficult for such advancement to take place.
Other countries are investing money into research through synergy, so we can also form a synergy with some of these countries to move ahead, at this point Nigeria don’t need money in form of loans from World Bank, but we need partnership for technological development, through that our engineers, and scientists will be able to acquire the relevant knowledge for economic advancement. That is where we can talk of an enabling environment for a reliable partnership like what China is doing. China is a developing country like Nigeria. What China has done is that they know that they don’t have money for research and development, but they created an environment that is conducive for the people who have that technology, and knowledge to come and set up factories in other to translate that innovation to products, and in the process of doing that, their people will be employed and ideas will be shared, that is how China broke out from some of the factories to start their local products which we consume here in Nigeria and now they are far ahead of us.
Government Driving the Application ICT
Honestly, government cannot do so much in driving the application of ICT in our national lives, I think you have two components to it, you have the public sector component and the private sector components, and the public sector components, government has a key role to play. The private sector component, is already rising up to the challenge in that area, so it is the public sector that is remaining because the private sectors effort is the one creating awareness to people. For instance, your newspaper is one of the key newspapers that educate people mostly on ICT development weekly. So, government has not done that and also government has a major role to play even in the legislation for ICT development in the country, which will help the private sector to intensify their effort in bringing ICT into our daily life.
Supporting Prosellers Services
Our collaboration with Tramigo is basically from the point of view of technology partnership.
Tramigo has been able to invent a world class technology as a matter of fact; Tramigo is the only GPS tracking technology in the world. It is the world best selling in over 200 countries and market leaders in the world in the tracking device solutions. We collaborate with Tramigo, basically on the GPS area which is very important to our service provisioning, because of the technology. They have continued to improve on it to enable us provide the local landmark data service that works with the satellite in addressing social challenges. They help us to provide the geographical mapping code, the GPS satellite will translate.
More so, the device is a stand alone device and what I mean by a stand alone device is that it is a device that does not need internet connectivity, and does not require some of the complication associated that is down or up services. On its own, it is a world class innovation, however locally here in Nigeria what we do is to provide the geographical map in consonance with our streets, areas and major buildings in Nigeria, all to assist the device to work effectively, though it is difficult to describe all the major buildings in Nigeria but we have to do it to help the device work well. This is because once the device in your vehicle sends a signal to the satellite in orbit, and it replies the device a coordinate, that is the geographical area, the latitude and longitude. So, our job is to enable the device by providing software to enable the device to translate that coordinate into a physical area or place like Wuse, Garki or Herbert Macaulay street etc. We also provide the software back up for easy identification. This is done in a matter of few seconds for the device to locate your identification for follow up. Apart from that, we have experts and equipments/updates that constantly monitor and update the land mark data in Nigeria.
Future of Prosellers
In the next five years, we want to see Prosellers becoming a bigger company in the African continent in providing sales and marketing services to the tracking device, and that our partners, Tramigos are working round the clock to ensure that any new technology that is coming out of the laboratories will be transferred to Proseller immediately for sales. New innovation will be added to the tracking device in no distant time. So, we would like to stand as a bridge between innovation and market by giving satisfaction to people in the needed ICT areas.
High Cost of ICT Equipment
I think that prices of ICT equipment are coming down but nevertheless, I don’t think one can talk of high cost now as a major challenge because prices are coming down globally but in a relative way. However, cost poses a challenge because of the economic nature of our society today, and government is not making any efforts to provide infrastructure to lessen the burden of vendors of ICT device and system in the market.
General News
Dangote Refinery’s Private Placement Reportedly Hits $2.5Bn

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.
General News
FG, UNODC Plan National Strategy against Organized Crime

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.
General News
Foundations Launch Youth Entrepreneurship Incubation Programme

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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