News
UK Government Supports 10 Tech Startups with Capacity Building Training, Mentorship
The iNOVO Accelerator Programme launched in January by the UK government through the UK-Nigeria Tech Hub has Created Pipeline of Growth for 10 early stage startups building innovative solutions to tackle the challenges caused by COVID-19 across the Education, Agriculture and Health sector in Nigeria.
The UK-Nigeria Tech Hub reiterated that the programme was designed to empower early-stage Nigerian startups that are solving challenges resulting from the COVID-19 pandemic.
In partnership with StartupBootcamp Afritech and Ventures Platform as implementing partners, this 3-month virtual programme afforded the top 10 selected Startups an opportunity to receive capacity building and learn startup training, mentorship, and support to scale their products and business models rapidly.
The statement also noted the top 10 startups across EdTech, AgriTech and HealthTech received an opportunity to validate their solutions with pilots and proof of concept engagements and use their newfound insights to rapidly pivot and scale.
“All of this was done with the help of dedicated Entrepreneurs, mentors, investors, and industry experts.
“To wrap up the programme, these startups also got the opportunity to pitch in front of an audience comprised of investors, corporate and government partners at the virtual demo day event.
“The second pronged strategy of the programme was to also provide a great learning experience for selected startups that couldn’t make a cut into the programme. Of a total of 750 applications received, the UK-Nigeria Tech Hub also sponsored 100 startups from the pool of applications received to gain life-time access to the Accelerator Squared platform where they are provided with the necessary insights and modules to help them build products and companies to scale impact.
“Founders were very impressed by the Accelerator Squared platform-the interactive playbook that provides startup founders with more than a dozen graduated modules to progress through every stage of the startup journey was a valuable asset that assisted in helping them fine-tune their business models”.
Lamide Johnson, Interim Country Director of the UK-Nigeria Tech Hub, said: ”Seeing the incredible impact this programme has been for the participating startups is a testament to the fact that if we want to give room for innovation to solve some of the arduous problems faced in Nigeria, more interventions such as this are needed to provide the needed information, network and support for early-stage startups building innovative solutions.
“Through this programme, we readily saw the need to support and provide more spring-boards for early-stage startups seeking to scale their impact.”
Speaking on the programme experience, some of the top 10 startups gave remarkable feedback on how the iNOVO Accelerator programme had an impact on their Startups.
The CEO of Schoola Abdul Bature, stated: ‘It has been an incredible 3 months of hardwork. With the help of StartupBootcamp AfriTech and Ventures Platform, our gamified learning solutions for secondary and primary schools has managed to get the attention of corporate parteners and key stakeholders. Which has led to a partnership with the Nigerian Turkish International Colleges and an onboarding of 25 other partners.
Furthering on this: Damilola Olaopa, CEO of Foodbank.ng, a food loan service startup, stated that through the programme, his team has managed to leverage the partnerships made to get the required support.
“The partnerships we have made will help us to scale our operations rapidly. Our partnership with First Bank reduces our exposure to risk as the bank takes on the responsibility of providing the funds, creditworthiness assessment, recollection and reconciliation of loans.
“This will not only help us scale our operations rapidly but will also lead to more revenue for the bank and for us too,” said Dami.
In the course of this programme, cloud-based hospital management startup Medipal secured two major partnerships with notable Insurtech Company, Curacel (Startupbootcamp Afritech alumni) as well as eTranzact- an African finance giant.
Medipal’s client numbers have increased and they have been ranked as Lagos’ number 1 Electronic Medical Record Company by the governing body of hospitals, the Association of General and Private Medical Practitioners of Nigeria.
News
GMOs are Food Poison – Agric Experts
Pro organic and agro-ecologists have staged a rally in Ibadan, the Oyo state capital, to protest against Genetically Modified Organisms (GMOs) which they consider as food poison.
The rally was organised by GMO Free Nigeria in collaboration with Organic and Agroecology Initiative (ORAIN).
Olugbenga Adeoluwa, leader of the group and professor of Soil Fertility, University of Ibadan, said they were against genetically modified organisms and raising the awareness of its impending danger.
The News Agency of Nigeria (NAN) reports that a petition was submitted to the Oyo state House of Assembly, and received by Bayo Olaniyan, chief of staff to the Speaker.
The group kicked against the approved genetically modified beans, cotton and maize approved by the federal government.Food and travel guides
They cited toxic herbicides like roundup and others approved by agencies of the government.
Adeoluwa said, “We say no to the incursion of these negative scientific innovations into our food systems, not just in Nigeria, all over the world. Why are we saying this? Genetically modified technology in food systems has been found to counter human health.Food and travel guides
“There are quite a lot of diseases like cancer, organ failure, hormonal failure that have been traced to food consumption, as a result of manipulation of our food system right from the field.”
According to him, there are a lot of research outputs that have been issued recently that have shown the correlation between consumption of GMO foods and human diseases, especially inflammatory of specific organs in human cells.
“I am talking about the organs of test animals which we feel as scientists can also affect humans and so this is why we are saying no to GMOs in Nigeria.
“We know that there are challenges of biosecurity which means that there is no guarantee that allowing these GMO foods and crops into our food system can be curtailed.
“What we are saying is that no to GMOs food in Nigeria, no to anything that could compromise our health, no to negative scientific innovations called GMOs food.”
He encouraged Nigerians to embrace the use of compost and manure, as well as indigenous technology that have been found in seeds and breeds and resistant to diseases, droughts and all manners of things countering healthy living.
Also, Dr. Mojisola Oyewole, a senior lecturer in the University of Ibadan, said the rally was to press home the negative impacts of GMOs.
“The effect of these GMOs on the healthy living of an individual is non-negotiable and so we are in the movement of saying no to GMOs in our society.
Oluwafemi Adebayo, one of the protesters, from the Department of Agriculture Extension and Rural Development, said GMOs had adverse effects on the lives of people.
Chief Moshood Salimonu, a farmer, from Akinyele local government area, said GMO had never been the solution to food security and good nutrition, adding that “I want to see my children grow up healthy and happy.”
News
Auditors Urged to Embrace New Technologies in Service Delivery
Advanced and emerging technologies such as artificial intelligence (AI), blockchain, robotic process automation, data analytics, among others, are critical for auditors, to deliver real-time audit service in a rapidly changing world.
This was the position of Bode Agoro, head of service, Lagos State, at the 15th annual Lagos State Auditors’ Retreat, with the theme, “Digital transformation in audit: Assessing technological threats and opportunities”, held in Lagos on Thursday.
According to Agoro, in line with the retreat’s theme, there are significant challenges and threats associated with auditing task, which should be mitigated. He mentioned cybersecurity risks and data integrity as some concerns that require continuous skills development detect if auditors must deliver efficient service.
“It is auditors’ responsibility to face these challenges head-on, by leveraging technology not only to improve their operations but also uphold public trust in our systems.
“As we navigate an era defined by swift technological advancements, it is crucial for us, as public servants and stewards of accountability, to adapt to these changes with foresight and agility. As auditors, we must uphold a high standard defined by core principles such as integrity, accountability, and transparency.
“These principles are the foundation of our profession and guide us in our mission to ensure that public resources are managed effectively and responsibly. It is our moral and professional obligation to maintain these objectives, regardless of the challenges posed by the digital landscape”, Agoro said.
Kehinde Joseph, chairman, public account committee, Lagos State House of Assembly, also speaking at the event, charged auditors against colluding with officials of ministries, departments and agencies (MDAs) to defraud the government.
According to Joseph, auditors must at all time work to protect public interest without compromising their integrity.
Speaking also, Muyiwa Adetola, permanent secretary/state auditor-general designate, whose office organizes the annual retreat, said a lot of progress had been made in the area of exposing auditors in the state to new trends and tools that aid their capacity for service delivery.
“As the auditor-general of Lagos State, I am proud to say we have made progress in leveraging technology to enhance public accountability. Yet, our journey is far from over. We must not only adopt new tools but also develop frameworks to ensure their ethical and effective use”, Adetola noted.
News
Nigeria to Enhance National Grid with Additional 150 MW – Adelabu
Nigeria is set to boost its national grid by an additional 150 megawatts (MW) of electricity before the end of the year, according to Adebayo Adelabu, the minister of power.
Speaking to journalists after a closed-door meeting with President Bola Tinubu and German President Frank-Walter Steinmeier at the presidential villa in Abuja, Adelabu said the milestone would be achieved following the successful completion of the pilot phase of the presidential power initiative (PPI).
The minister explained that the initiative, implemented in partnership with Siemens, aims to improve Nigeria’s electricity supply through strategic projects.
“We believe that before the end of the year, an additional 150 megawatts will be added upon completion of the entire pilot phase,” Adelabu said.
Highlighting international collaboration as critical to Nigeria’s energy development, the minister underscored the country’s partnership with Germany.
“We have a bilateral relationship with the Republic of Germany that focuses on energy and electricity support,” he said.
“The name of the game now is about cooperation, collaboration, and partnership.”
Adelabu described the Siemens project as a flagship component of the partnership, focusing on implementing both brownfield and greenfield transmission substations under the PPI.
He noted that since the agreement was signed in December 2023 at COP 28 in Dubai, Nigeria has made significant progress. “We have completed the pilot phase of this project up to 80%,” he said.
The pilot phase includes the importation and installation of 10 power transformers and 10 mobile substations, with eight already commissioned.
“The positive impact of this is that it has added nothing less than 750 megawatts to our transmission grid capacity,” he said.
Adelabu outlined plans for the next phase, which will involve revamping 14 existing substations and establishing 23 new ones across the country.
“The entire grid is quite fragile and dilapidated. We need to revamp it to ensure stability going forward,” he added.
In addition to addressing immediate power needs, the minister reaffirmed Nigeria’s commitment to renewable energy as part of its long-term strategy. “We have an energy transition plan to achieve net-zero emissions by 2060,” he said.
Adelabu highlighted Germany’s expertise in renewable technologies, which aligns with Nigeria’s natural resources.
“Germany has technology; we have the sun and wind,” he said, noting that over 30 states in Nigeria enjoy a minimum of 10 hours of sunshine daily.
The minister also discussed plans for off-grid solutions, proposing a distributed power model where each state would have its own generating plants.
“This model will shield states from problems on the national grid and ensure rural electrification,” he said.
“Germany’s involvement extends beyond traditional energy sources; it includes significant investments in green energy projects.”
Adelabu concluded by expressing optimism about Nigeria’s energy future, emphasizing that partnerships with Germany and other stakeholders will help build a robust energy infrastructure to support economic growth.
- Uncategorized2 days ago
Polaris Bank Wins Sectoral Award at the 2024 NEC A Employers’ Excellence Awards
- News2 days ago
NAFDAC Recalls Deekins Amoxycillin Batch Over Serious Adverse Reactions
- E-Financial2 days ago
House of Reps Moves to Shut Down Illegal Loan Apps Exploiting Nigerians
- E-Business1 day ago
PalmPay, Jumia Partner to Launch Integration for Shoppers in Nigeria
- Telecom1 day ago
South Africa-Nigeria Bi-National Commission Announces Visa Reforms
- Telecom1 day ago
Techeconomy Recognized as Best Supportive Media Partner by NiRA
- Telecom1 day ago
Glo Lucky Number Draw Game Winners Get Cash Prizes
- Telecom1 day ago
Mobiles Poised for Second Lives this Christmas as a Third of Consumers ‘Recycle’ Phones Within the Family