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Speakers At CFA Startup Hangout Urge Youths to ‘Stay & Invest’ in Nigeria

By Justice Okemgba
The October 2017 Edition of the CFA’s Startups Hangout really lived up it’s expectation, as the Startups were fed with priceless nuggets on how to run their businesses successfully and improve on their lives and uplift the nation.
CFA’s Startups Hangout, is an event that brings Startups together to learn how to run and grow their businesses from invited successful entrepreneurs, as well as network with each other.
The two invited speakers for the October 2017 edition, which was held at Adna Hotel, GRA, Ikeja last Friday, were Mr. Wale Ajisebutu, vice-chairman, 21st Century Technologies and Dr. Nkiru Balonwu, Managing Partner, RDF, a Consultancy outfit.
First to speak, was Dr. Nkiru Balonwu. She stated that Startups need to be determined and stay focused, as these are key to achieving what they want to achieve. “Be sure of what you want to do and set milestones for the achievement of goals”, she emphasised.
She admonished the Startups to note each achievements as they are met and also know why they are not met and fight to see that they are met in the end.
She made it known to the Startups that, from her own experience at starting her own business outfit, not everyone will encourage them in their quest, but they should not be deterred. She advised them to seek for sponsors and mentors, but should also be ready to give them something in return.
Nkiru stated that Startups should ensure that whatever it is that they are doing, should be centered around solving a problem for their clients. She gave the example of her own experience, where her personal need to track the income and expenses of her income and expenses, prompted her to develop the Bukkipa App, a simple accounting solution, but she had to ask for inputs from those who are also in need of such a solution, so that they can patronise it.
Wale Ajisebutu, in his presentation to the Startups, gave the narrative of Nigeria as a country blessed by God, with lots of opportunities, which, unfortunately, the citizens are only seeing and complaining about as problems.
He advised the Startups to stop complaining about what the government has not done and see all the problems that we have in Nigeria in the areas of inadequate water supply, bad roads, poor transportation, scarcity of food and agriculture, etc., as opportunities they can key into and start a business on, because the government cannot do them.
“You cannot see all these kinds of opportunities in England, for instance, because they have light, they have houses and they have roads, etc. You don’t need to run there. If you go there, you will just go and wash toilets and plates”, he observed.
“It was individuals that developed America and not the government”, he stressed. He gave the example of Cornelius Vanderbilt, who invested in and built railroads, John D. Rockefeller Snr, who invested in the oil and oil pipeline business and J. P. Morgan, who invested in the banking industry, all in America.
He stated that a good example of such individual, doing a similar thing in Nigeria, is Aliko Dangote, who invested in problem areas in Nigeria and is today, the richest African in the world.
Wale advocated for the adoption of a four-tier government, namely, Federal, State, Local government as well as Youth and Entrepreneurs, to take care of the interest of SME’s. He advised Startups to work hard, be consistent, dream big, think big, start small, be open, be curious and take risks. “If you do the right thing in your business in Nigeria, you will become a multi-billionaire in any currency”, he assured.
Wale further advised the Startups to build great teams, have good business concepts, build wide network of mentors and cover their costs to stay relevant in the business world. “You are in Nigeria for a purpose. Take advantage of it. The country is for you. You have to build it”, he concluded.
Other attractions during the October 2017 edition of the CFA’s Startups Hangout, include presentations by officials of The Bridge Clinic, who took the Blood Pressure of the Startups that attended the event and TAMS on Time Management, Payroll and Human Resource solutions for the Startups.
The event ended with the networking session, where the Startups interacted with each other to form alliances, friendships as well as synergize their operations.
The November 2017 edition of the CFA’s Startups Hangout, which will be the last for this year, also promises to be an exciting one. Watch out for details @ http://startups.cfatech.ng
News
NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.
Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.
“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.
Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.
“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.
He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.
“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.
During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.
Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.
“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.
The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.
In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.
Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.
The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.
News
NRS Takes Over Mineral Royalties Collection Under New Tax Laws

Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS
The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.
Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.
NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.
Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.
The move aims to streamline revenue collection while fostering mining growth.
News
Microsoft Revamps Copilot in Workplace AI Push

Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.
The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.
Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.
Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.
“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.
Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.
A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.
The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.
Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.
The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.
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