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ST Team Aims to Reduce Poverty in Africa by 30% by 2027

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L-R, Barrister Isaac Adediran, Legal adviser, Mr Princewill Otorudo, VIP 9 leader, Mrs. Fola Abiodun, VIP 9 leader, Mr. Trust Otorudo, Regional Head, Lagos, and Hon. Samson Aminu, VIP 7 leader, all of Smart Treasure Investment Team (ST Team) during its business banquet held at Vertigo Hotel, Victoria Island, Lagos.
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The Smart Treasure Investment Team (ST Team) has held median edition of its business banquet at Vertigo Hotel, Victoria Island, Lagos, to discuss the platform’s vision and legitimacy amidst Nigeria’s uncertain economic climate.


L-R, Barrister Isaac Adediran, Legal adviser, Mr Princewill Otorudo, VIP 9 leader, Mrs. Fola Abiodun, VIP 9 leader, Mr. Trust Otorudo, Regional Head, Lagos, and Hon. Samson Aminu, VIP 7 leader, all of Smart Treasure Investment Team (ST Team) during its business banquet held at Vertigo Hotel, Victoria Island, Lagos.

Trust Otorudo, the regional head for Lagos, introduced the ST Team, including VIP 9 leaders Mrs. Fola Abiodun; Princewill Otorudo and the legal consultant Barrister Isaac Adediran.

Mr Trust emphasized the platform’s commitment to improving financial status through AI-driven trading and data analysis.

According to him, “People should engage in this platform if they want to truly improve their financial status,” Mr. Trust said. “The ST team is not a fake project. You can do your own research and investigative journalism.”

Mr. Trust highlighted the platform’s use of artificial intelligence to predict trades accurately, stressing the importance of moving from traditional means to AI-driven methods of making money.

“Our vision is to reduce poverty rates in Africa by 30% come 2027, with our major focus on Nigeria,” he added. “We believe strongly in public-private partnership and are currently in the incubation stage of our SEC approval.”

Mrs. Fola Abiodun shared her motivation for spreading the news about the platform, emphasizing the importance of financial stability for societal security.

“I believe that when we have more people doing well in society, there won’t be a cause for stealing and robbery,” Abiodun said. “That’s one of the drives that made me reach out to my colleagues, friends, and family.”

The ST Team aims to provide an enabling environment for individuals to achieve their goals, whether in agriculture, education, or manufacturing, while also making money virtually.

Addressing concerns about potential challenges from banks, Mr. Trust clarified that the ST Team does not trade the Naira and poses no threat to Nigerian banks.

“We are not a threat to any bank. We do not trade the Naira, and we have no business with fiat currencies,” he said. “The banks will enjoy doing business with us.”

The team also discussed their corporate social responsibility (CSR) initiatives, which include supporting education and community development projects.

When asked about the platform’s incorporation and licensing, Mr Trust revealed that ST Team was incorporated in 2025 and is currently awaiting its full Securities and Exchange Commission (SEC) license.

The banquet concluded with a call to action for individuals to take advantage of the opportunities provided by the ST Team to improve their financial status and contribute to reducing unemployment in Nigeria.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. 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

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FG Targets $30Bn through Raw Materials Digital Platform

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Chief Uche Nnaji, the Minister of Innovation, Science and Technology, said the Nigeria Raw Materials Management Information System (RMMIS) and Raw Materials Research and Development Council (RMRDC) will attract $30 billion in investments over the next decade.

Chief Nnaji made this known in Abuja while unveiling the data application, saying the system will empower industries, reduce unemployment, and create opportunities across various value chains.

The minister added that the initiative can increase semi-processed mineral exports to $9 billion by 2030 and strengthen research and development in the country, if properly aligned with national industrial policies

“It will also Attract investors, potentially bringing in $30 billion in investments over the next decade through efficient resource management; and finally, it will Strengthen research and development, helping scientists and industrialists explore new product innovations and optimize material use.”

“The RMMIS is a national digital repository of real-time, accurate, and accessible data on Nigeria’s raw materials. This platform will Empower manufacturers with reliable data for local sourcing, reducing import reliance and boosting domestic production” Nnaji explained.

He further added that with accurate data, the agriculture, mining, and manufacturing sectors can maximize raw material use, fostering job creation and boosting investments by $20 billion in the next decade.

“This will conserve foreign exchange reserves, potentially saving $10 billion annually while strengthening the naira” he added

The minister explained that successful implementation of RMMIS requires collective effort urging government agencies, researchers, private sector players, and development partners to actively engage, contribute data, and utilize insights to maximize the system’s impact.

In his presentation, the key note speaker and minister of trade and investment, Senator John Owan Enoh said that data is critical for Nigeria’s economic development.

He added that there is nothing that attracts investors like adequate data, stressing that the raw materials research and development council will continue to fuel industrialisation in the country and beyond with adequate data of raw materials.

Sen. Enoh therefore pledged the commitment of the trade and investment industry in the achievement of the set goal.

On his part, the Director General of the Raw Materials Research and Development Council, RMRDC, Professor Nnanyelugo Martin Ike-Munonso said the Nigeria Raw Materials Management Information System (RMMIS) is the first of its kind in the history RMRDC subsector.

He said it is a robust technology driven decision platform designed to enhance data driven decision making, facilitate research and development in the country.

The DG added that it covers all critical and strategic raw materials comprising agricultural, solid minerals.

“It also contains both technical and investment information and covers more than 17,000 data points based on raw material occurring across every party of the country,” he added.

 


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Africa’s Startup Funding Increased by 240%

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Nigeria and other African startups are off to a bright start as funding into the ecosystem rose by 240 percent year-on-year to $289 million in January 2025, compared to the corresponding period of 2024.

In January 2024, African startups raised $85 million. However, this performance in January 2024 made it the second-best January for startup funding since at least 2019, falling behind only the January 2022 period during the peak of the funding boom, according to ‘Africa: The Big Deal,’ a funding tracker.

The funding tracker noted, however, that equity financing dominated the fundraising landscape, accounting for over 90 percent of the total amount raised at $262 million, which is a leap from the figure in January 2024. It also marks the second-highest January for equity fundraising in the past six years.

Africa: The Big Deal noted that the four largest deals in January 2025 came from the big four (Nigeria, Kenya, Egypt, and South Africa), and they accounted for about 60 percent of the total funding raised across the continent.

The Big Deal said, “PowerGen, an energy-focused startup, raised $50m+ to establish a scalable platform for distributed renewable energy solutions across Africa, LemFi (Fintech) secured $53m to further expand into Asia and Europe.

“Naked, an insuretech firm, bagged a $38m Series B to automate and expand its product offering; and Enko Education secured $24m to keep expanding its network of African schools.”

Notably, three of these deals highlight a growing trend of African startups expanding their operations beyond the continent.

Experts believe the performance in January 2025 signals a promising wave of funding in Africa’s startup ecosystem, which faced significant funding challenges in 2023 and 2024. In 2024, African startups only got less than 1 percent of global funding, with $1.5 billion in equity raised.

Davidson Oturu, general partner at Nubia Capital, noted that Nigerian startups have significant opportunities to position themselves better for funding in 2025.

He said, “The funding landscape for African startups is evolving, and 2025 will likely see a mix of challenges and opportunities. Foreign investors will remain significant players, but global economic pressures may lead them to be more cautious and selective. Startups will need to demonstrate strong fundamentals, scalability, and the ability to solve real problems to attract their attention.


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MTN Increases Data Prices Amid NCC’s 50% Tariff Hike Approval

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MTN, Nigeria’s largest telecommunications operator on Tuesday commenced implementation of the Nigerian Communications Commission’s approved tariff hike by increasing its data prices.

A check by the News Agency of Nigeria (NAN) using the *312# code on the MTN network showed the revised MTN data prices.

For the monthly plans, MTN 1.8GB now goes for N1,500, replacing the previous 1.5GB plan priced at N1,000; the 15GB plan now costs N6,500, a rise from N4,500.

The 20GB monthly plan has been adjusted to N7,500, up from N5,500, among others.

Text messaging on the network has also increased to N6.00 reflecting the 50 per cent hike, while hike in voice calls rates are yet to be ascertained.

Other mobile operators comprising Airtel, Globacom, and 9mobile are yet to update their data prices as at the time of filing this report.

Some subscribers, who spoke with NAN, said they were surprised by MTN’s haste in implementing the tariff increase.

An Educationist and MTN Subscriber, Mrs Halima Balogun, lamented MTN’s haste in adjusting its tariff.

Balogun said that other networks were yet to implement the hike.

“We, the subscribers, are yet to come to terms with the announcement of proposed hike, only for the increase to be implemented.

“I was about purchasing my 1.5GB at N1000, only to discover that it has been increased to N1,500, this left me stranded because I had planned on spending only N1000.

“It would have been ideal if we were given a week’s notification before the new prices were made public to enable one to be prepared,” she said.

A 200-level Student of University of Lagos, Mr Edoziem Olunwa, described the increased MTN tariff as frustrating.

Olunwa said that the increase was coming at a time when things were becoming increasingly difficult, even as students.

“As a Computer Science student, I was struggling to help myself with the 20GB which was N5,500 but the additional N2000 is like a burden.

“Over the weekend, there was outage on the network, which was addressed but could still be better. These are the things we want the network to address,” he said.

Another Subscriber, Mr Abdulwahab Fatoki, expressed optimism that the increase would herald effective and efficient service.

Fatoki said that from the day the announcement of the proposed tariff hike was made, it was obvious that there was no going back so the best bet was to be prepared.

All the subscribers, however, expressed optimism that with the increment there would also be increased quality of service.

All efforts to speak with MTN officials before filing the report failed.

NAN reports that the Nigerian Communications Commission (NCC), the industry’s regulatory body had approved a maximal increment of 50 per cent tariff adjustments to operators.

The Commission said its approval, though less than the 100 per cent hike demanded by operators, was in response to prevailing operational costs.

It said that its decision was pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA) to regulate and approve tariff rates and charges by telecommunications operators.

The NCC said that, while recognising the concerns of the public, the decision was made after extensive consultations with key stakeholders across the public and private sectors.

“The NCC recognises the financial pressures faced by Nigerian households and businesses and remains deeply empathetic to the impact of tariff adjustments,’ the NCC said in a statement.

It noted that these adjustments would support the ability of operators to continue investing in infrastructure and innovation, ultimately benefiting consumers through improved services and connectivity.

The NCC added that consumers would benefit from better network quality, enhanced customer service, and greater coverage within the country.

(NAN)


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