News
Sulaiman, Onuegbu, Others Make Board of Lagos Angel

Lagos Angel Network (LAN), a “not for profit” entity that was formally incorporated in May 2015, for the purpose of organizing individual Business Angels to collectively invest in the most promising start-up businesses in Lagos has announced the appointment of its inaugural Board of Directors comprising of seasoned industry experts and professionals.
Adedotun Sulaiman, board’s chairman is a renowned management consultant and expert in organizational development, enterprise transformation and business process reengineering.
He retired as the country managing director of Accenture in 2005 and currently chairs the board of several companies with a major emphasis on the emerging electronic payments industry and companies in the entrepreneurial stage.
Collins Onuegbu who is the director in charge of Partnership & Sponsorship is founder and Executive vice chairman of Signal Alliance Limited, a leading player the Nigerian technology industry. He is also founder of SASWARE, a technology investment company that provides seed investment to early stage startups in the technology industry.
David Richards is the Memberships Director and a professional banker with several decades of experience across Africa.
He co-founded Midas Merchant Bank and was its first Managing Director and was also the first Finance Director of the Niger Delta Exploration Company a position he held until his retirement in 2008. He is a specialist in raising venture capital for the Manufacturing, Mining, and Oil & Gas industries.
Dipo Adebo is Director responsible for the network’s Processes, Procedures & Compliance with best practices. He is the founder of DAA Architects, which specializes in Hospitality and Retail Design.
He has undertaken several for major hotel management chains including Accor, Golden Tulip, Rezidor, and Hilton. He is a well-respected Architect of Record for several major developments across Nigeria.
Tokunboh Ishmael who is responsible for the network’s Financial Management practices is a co-founder and Managing Director of Alitheia Capital, an investment management and advisory firm.
She has advised on several acquisitions and also successfully raised over USD50m in funding in her previous roles as Managing Director of Avante Capital and Country Partner for Aureos Capital.
Segun Olukoya is Programmes Director with responsibility for co-ordinating the LAN Secretariat.
He is a Partner and member of the founding team at Nextzon Business Services who specialises in corporate and competitive strategy development, business planning and set up with a focus on corporate governance and organizational restructuring.
He is a member of the Investment Committee of the Vantage Guaranteed Income Fund and also sits on the Board of One Credit Limited.
’Tomi Davies is the Director responsible for Awareness, Education and International Relations. He is the founder of TVC Labs, a technology business incubation organisation and has been involved in the world of information and communications technologies for over 30 years.
He sits on the Boards of various companies including Sproxil Nigeria, Baas Online Properties, MBO Capital, Strika Entertainment, TechnoVision Communications, MoMo Academy and PeoplePrime. He is also the founding President of the African Business Angel Network (ABAN).
According to Mr Sulaiman, who chairs the board, “We have pulled together a unique team of pioneers who will bring their knowledge, practical experience, passion and networks to support the realisation of our mission. We are in this for the long haul and have no doubt that our efforts will lead to the emergence of several transformational Nigerian businesses that will go on to become pan African champions in their chosen fields.”
News
Atte, Nigerian Develops AI Algorithm for Hair Transplants

Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.

Atte Ayodeji
Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.
Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.
His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.
Sunday Dare, special adviser on Media and Public Communication to President Tinubu, celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.
“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
News
FG to Abolish Subsidies in Power Sector in 2027 – Minister

Mr. Joseph Tegbe, minister of Power, has said that the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases.

Mr. Joseph Tegbe, minister of Power
The minister told journalists during the media interactive session at the weekend that the government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting liabilities in the power sector.
He explained that the planned removal forms part of the broader reforms aimed at ensuring the long-term sustainability of the electricity sector, while tackling the financial challenges confronting the industry.
According to the minister, despite the planned subsidy withdrawal, there are no immediate plans to increase electricity tariffs, reassuring consumers that the government is not considering a tariff hike in the short term.
News
AfCFTA Urges Africa to Stop Exporting Raw Materials

Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.

She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.
According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.
“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.
Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.
“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.
She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.
Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.
“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.
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