General News
Solo Phone Leverages Digital Contents & Services for Growth- Ogundipe
Tayo Ogundipe, is co-founder of Solo, an experience-driven digital content and smartphone company focused on delivering the best content and services on the mobile platform to African consumers.
Ogundipe, a Nigerian-born, former senior global executive with HTC and Sony Ericsson together with other Solo management team bring an unusual blend of global sector expertise and deep knowledge of African markets that enable the team to conceive and implement a market-leading, mobile consumer proposition uniquely suited to African markets.
Solo, among other things, is packaged with competitive data bundles from mobile operator partners, content and service offerings, to create a revolutionary, new customer-centred user experience, never before been seen on the African continent, he told peter ugwu in this interview.
Concept of Solo Phone
The very premise of Solo, is a belief that the digital contents and services huge, obviously, globally, and incredibly huge in the emerging markets, because Solo, is really an emerging market player. Probably, we started in Nigeria, but the vision is to go across the emerging markets.
The way we look at it is that the digital contents are not enough to have them, especially in the value added services (VAS) are, they will have life-changing and transformative impacts on our quality of live, how we executive services and will hopefully increase quality of live in the emerging markets.
We believe that the direction to digital contents and services is set; nothing is going to stop that, but how quickly the adoption happens is a function of who the players are in the space.
And Solo Phone hopes to be one of the catalysts to help in the adoption of those digital contents and services in this market in the ways that create wealth, profitable and valuable to the end users.
So, we look at it from the point of view of contents first, value added services later.
Contents are around entertainment: music, movies; we will be talking about games very soon, to complete the entertainment side of the content.
On the VAS area, we are actually looking at it becoming the most interesting part in the coming years; where there will be incredible innovative solutions on digital platform around critical sectors like health, banking & finance, education, commerce, and other significant aspects of our economy or way of life.
In those cases, we believe that the mobile platform will be the primary media through which these things will be consumed. We feel strongly about that.
We see Nigeria and other country on this continent leapfrogging the personal computer, laptop world into smartphone world, because of the economics of it; it is cheaper to buy it, the mobility, ubiquity that makes it possible to go anywhere and do a lot with it.
It could be your voice, internet, music, mobile Tv device; there is just a lot one can do within the smartphone arena. It is going to enable a lot of things and digital content and services are going to play a big role.
The whole idea of Solo is to be a key player in that help to accelerate the directions it go. As a local pedigree, we will help speed up the process.
Market Penetration
The way to look at Solo is, we are primarily in the digital content and services business. What we do on the hardware side is driven by the need to provide the platform for consuming the contents.
So, in the device side of the business, we are barely one year in the market. For us, it is about setting the foundation for success.
This is a long time play. We are not going to sell and disappear like many do. A huge chunk of our time, last year, was on building that foundation: establishing brand presence, distribution partners with critical players like Slot, Micro Station and other big names, establishing regional presence and of course, establishing our digital apps around music.
So, the actual sells and penetration didn’t kick off till the second half of last year, but in terms of how it works, were we have distribution we do extremely well.
It is a sign of how far we are going. Although, we are new, we are present in every regional chain. And the retailers are happy to carry us along as they expand nationwide.
We are on the process of growing that distribution. Clearly, the preposition is resonating with the consumers; they are willing to work with us and embrace the platform.
Solo View Application
Like I said earlier, it is part of the continuum of our entertainment package in the digital platform. We started with Solo music, which is at this point limited to solo phones, because we have some exciting things coming down the pipe.
The way we started that, we entered into agreement with the top three global labels that offer us access to millions music catalogues and they keep getting better by the day.
When you benchmark Solo music with other platforms out there, it sets itself apart both on the depth of our offering, experience and everything that is done around it.
At the moment, you have to buy Solo smartphone phones to enjoy it. Beyond music, everything we are doing is available on Android platform.
So in Solo View we moved from music to movies. The way we look at it is this: mobility is the core of the preposition; the ability to take these stuffs to the subscribers.
If we look at the quality of our lives coupled with busy-engagements of the day; traffic, running from one place to another, we spend more time outside than at home.
To add insult to injury, not all time we spend on the road are productive. So, the ability to take entertainment with you has value anywhere in the world, here, it has magnifying value. To us, entertainment is the combination of music, movies, games and other interesting things that get people excited.
What prompted Solo View was the urge to set ourselves apart in the market. We looked at the market and saw people trying to do amazing things, but they have fundamental limitations often dictated by infrastructure.
Most solutions, before we came were streaming based, which was tied to protecting the intellectual property right of the company.
That affected the consumer experience. Well, the operators have done magnificent job by investing in the 3G network, but the truth of the matter is that growth in usage and demand is still outpacing investment in the networks. So, the customer experience is still lagging in so many areas.
If it is hard to make a call, you can imagine trying to stream a movie on such network, probably, while you are traveling.
That is a challenge and a limitation to the consumer. When we came into the space, we asked ourselves the pertinent question as what we can do to differently.
Therefore, we decided that one essential thing for good customer experience is a download solution; the ability to sit at a place, download as much content into the device or any Android Device that you have.
One, the experience is better. Two, it is more predictable. And that affects our pricing model. For us, the idea it is about that optimal experience for an average customer to enjoy the device, even on the go.
Solo view is a rental service. If it were a Nigerian content, it gives you 15 days window to watch it as many times as you want. It expires on its own.
If it were a Hollywood movie, for instance, it stays on your phone for 30 days. So, we don’t just make it easy for download, the pricing model enables the subscriber to enjoy the content. At the expiration, you delete and create more space for the next one.
Promotion of Local Digital Content
That is the goal and we are achieving it. On the music side we are getting good traction on the local content.
The basic assumption is that 70% of the content is local. For us at Solo, we believe that when you have a movie or video platform, like the Solo View, you actually optimize the platform with the richness of the offering.
When it comes to richness of offering it has to be tied to relevance with the target market which makes local content very compelling. We have huge Hollywood stuffs; they are compelling, current, good quality of 2014 movies of SD/HD option, we are very proud of them.
We get it faster than any other person in this market does. But as we still look at how to enrich the overall experience, we still think the local part is going to be critical. We believe that in not too distant future we will work with the content generating platforms-the publishers, writers, directors, even the artistes; probably, to engage on production of custom-made proprietary content to be deployed on our platform, maybe redistribute afterwards.
We will look beyond the traditional movies. Ours is a society that has some defined segments-religion, finance, et cetera.
The bottom-line is: we are looking at multiple ways to generate contents. It goes to show that this is a customer-centric business.
Solo View and Other Online Content Providers
Obviously, we have the download option. The depth of our offering expands to Nollywood, Hollywood, and others.
And we have to consider the vision. We see are just starting, but in the next three to six months, people will get more abreast with the concept. We see the foundations we are laying as critical in the business continuum.
To us, it not just an isolated movie offering, rather an entertainment offering. For us, we are not a one-shop-movie play station rather a digital entertainment company that is trying to maximize what we have for customer satisfaction.
You cannot take away our commitment to constantly search for that content that makes sense for the people.
Our goal is to build Solo Loyalists to trust us and be at the forefront of innovation around the entire digital content spectrum.
Connectivity Challenge
That is an excellent observation, but that is the principal thing that sets us apart. We deploy our own Solo Hotspots.
Others don’t! The primary deployments were done around our retail locations. We have more than 100 hotspots deployed nationwide and on the second phase to deploy at non-retail location, like where people congregate.
Therefore, aside the arrangements we have made, we are still looking at solving the data issue. It is expensive to pay for data to be able to access contents. We decided that music is more data-friendly, and even went ahead to partner operators to offer free data at some points.
For instance, if you buy Solo phone you get 500mgbyte of data for a period of time from either Etisalat or Airtel.
On the movie side, even with the download solution, it is still expensive. So, we came into the market with our hotspots. At any point of sale, you use Solo phone or any Android device, go to the playstore, download our application and download movies as you like.
The speed is unbelievable. You can download a full length of Nollywood movie in less than two minutes.
The bigger catch is: it is free data. We are using that to solve connectivity problem. So, for the movie, you are just paying for the content and should not the data.
If there is no hotspot close-by, it gets to the next level which is click to use either the WiFi or 3G network. So, we go through that three-stage progression to make sure connectivity experience is optimized and the reduction in the cost.
Solo’s Preparedness towards Digital Migration
The design of our devices (the hardware part of the business) is critical when you talk about the digital era in Nigeria and the experience.
We have our 5” product and still looking at tablets and others. We try to optimize the experience to the consumer with power banks, ear-phones, and other features.
In terms of opportunities beyond the mobile platforms, in the content business, the key is finding ways of monetizing the services. Good enough, we are not limited in any way, to a particular content.
Solo In 2015
A lot of people see Solo as just a device company, which is cool; we are proud of that too. However, in 2015, we are going to emerge more in the digital content space. We have the roadmap on how to revolve our experience.
Like I said earlier, in music, we will be leading the way. We will be making more noise in the digital content and services business. So, we start filling-in the true picture of Solo; what it represents to every segment of the society.
General News
MSMEs Paucity of Funds Receives Boost as Senate Backs Bill Seeking to Unlock Cash for them

Businesses across Nigeria, particularly micro, small and medium enterprises (MSMEs), may soon be able to convert unpaid invoices and credit sales into immediate cash without relying on conventional bank loans following the passage of the Factoring, Assignments and Receivables Financing Bill for second reading in the Senate.

The bill, which seeks to establish a legal framework for factoring and receivables financing, is expected to improve access to credit, boost liquidity for businesses and enhance domestic and international trade.
It also seeks to provide legal certainty for the assignment of receivables through factoring, promote transparency, modernise assignment laws and facilitate greater access to credit for businesses across the country.
Leading debate on the bill which was sent from the House of Representatives for concurrence, Senate Leader Opeyemi Bamidele said on Tuesday that the proposed legislation would create an enabling environment for debt factoring to thrive in Nigeria while defining the rights and obligations of creditors, factors and debtors involved in such transactions.
He explained that the bill provides for factoring contracts between sellers and factors and clarifies the legal relationship among parties in receivables financing arrangements.
According to Bamidele, the legislation has already passed all legislative stages in the House of Representatives and has complied with the Senate’s procedural requirements under Order 78(3) of the Senate Standing Orders.
He told lawmakers that the Senate Ad Hoc Committee on Compliance, chaired by Abdul Ningi, had scrutinised and cleared the bill for concurrence.
“The committee confirmed that all procedural requirements for consideration and concurrence by the Senate have been fully met,” he said.
Seconding the bill, Adetokunbo Abiru said the legislation would provide businesses with an alternative source of financing by enabling them to turn credit sales into cash and improve their working capital.
Abiru noted that factoring has become increasingly popular across Africa over the last decade, largely through initiatives supported by the African Export-Import Bank (Afreximbank).
He disclosed that the African factoring market is currently valued at over $50 billion, but Nigeria’s participation remains below one per cent.
According to him, countries such as Egypt and Morocco have benefited significantly from the financing model, adding that Nigeria risks missing out on the growing market without a clear regulatory framework.
“I think that passing this major legislation will help support our micro, small and medium enterprises in terms of converting most of their credit sales into cash without going through the normal borrowing arrangement,” Abiru said.
In his remarks, Ningi also assured lawmakers that the compliance committee had reviewed the bill and found no legal impediments to its passage.
Following a voice vote, the Senate approved the bill for second reading and subsequently referred it to the Committee of the Whole for clause-by-clause consideration.
General News
IMF Warns Nigeria of Risks in $5Bn Swap Deal with First Abu Dhabi Bank

The IMF on Tuesday warned of risks surrounding Nigeria’s plan to borrow up to $5 billion through a derivatives agreement with First Abu Dhabi Bank, saying such transactions are often opaque and complex.

Recall that the Senate in April gave its approval to the agreement, joining other Africa borrowers like Senegal and Angola who have tapped similar arrangements over the past year.
“Our view is that the transaction in these types of structures carry risks. Usually they are opaque so the terms are not always very transparent when we reviewed these instruments across countries,” Christian Ebeke, IMF resident representative in Nigeria, told reporters.
Ebeke said Nigeria could instead issue eurobonds to finance its deficits or other means to raise funding, including on concessional terms.
Nigeria intends to use proceeds from the total return swap, or TRS, to refinance expensive debt and pay for infrastructure.
In its latest Article IV review, the Fund praised Nigeria’s sweeping reforms, saying they had strengthened economic stability and investor confidence, but warned that the benefits had yet to reach millions of citizens and could be undermined by global shocks, including the Middle East conflict.
The reforms since 2023 under President Bola Tinubu – including fuel subsidy removal, tighter monetary policy and exchange rate liberalisation – had rebuilt buffers and improved macroeconomic management, the IMF said.
However, it cautioned that the reforms were also contributing to social strain, with poverty levels at 63% and millions facing food insecurity, underscoring a widening gap between macro gains and household realities.
The IMF said improved policy credibility and forex reforms had helped Nigeria regain access to international capital markets and attract portfolio inflows, while reducing risk premiums. The central bank says gross reserves are at $50 billion, the highest in 17 years.
But reliance on volatile foreign portfolio investment poses rollover risks, the IMF said, urging a shift towards more stable, long-term capital such as foreign direct investment.
General News
SSDC Warns Businesses against Cyber, Election-Related Risks

Security Skills Development Company (SSDC) has released its 2026 Security Outlook, highlighting four major security challenges expected to shape Nigeria’s business and operating environment as the country moves closer to the 2027 general election.

The report, developed from a nationwide survey and expert contributions at the recently concluded Security Thought Leadership Roundtable, identifies internal security threats, protection of national assets, cyber risks and election-related instability as the most significant concerns facing organisations and institutions in the coming year.
According to SSDC, findings from the survey and stakeholder discussions reveal growing concern over the increasing complexity of security challenges and their potential impact on business continuity, economic stability and public confidence.
A substantial number of respondents identified internal threats within organisations as an emerging risk, pointing to the need for stronger corporate governance, workforce integrity measures and structured risk management systems.
Security experts at the roundtable noted that weaknesses in critical public infrastructure and national assets could have far-reaching consequences for the economy and national development if not adequately addressed.
The report also highlights cybercrime as a persistent and evolving threat to both public and private sector institutions.
Participants stressed the importance of strengthening cyber resilience through proactive monitoring, investment in technology-driven safeguards and improved security awareness.
Another key concern raised in the outlook is what SSDC described as the “2027 Election Shadow.” Many respondents expressed concerns about the possibility of heightened political tension as the election season approaches, warning that uncertainty and security disruptions could affect business operations, investment decisions and overall economic confidence.
Speaking on the report’s findings, Mike Igbodipe, managing director, SSDC, called for a more strategic approach to security management across both public and private sectors.
He said organisations must move beyond reactive security measures and integrate security considerations into their broader strategic planning and decision-making processes. He also advocated the development of a gold-standard, locally certified training programme for security professionals tailored to Nigeria’s unique security environment.
SSDC, a security training and consulting firm focused on advancing professional standards in Nigeria’s security sector and strengthening industrial resilience through capacity building and strategic expertise, said the Security Outlook forms part of its ongoing thought leadership initiative aimed at promoting informed dialogue on national security, institutional resilience and risk management.
The company reaffirmed its commitment to supporting stakeholders through research, training and strategic advisory services designed to improve preparedness and response to emerging security challenges.
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