The Nation Newspaper

Author: The Nation

  • Leo Stan Ekeh still winning

    by Oladapo Sofowora

    The Chief Executive Officer of Zinox Computers, Leo Stan Ekeh, seems to have mastered a unique way of always making his competitors groan in envy, with his distinct approach of making a long lasting statement in business.

    Apart from being a top player in the ICT business, he has his hands in several businesses including; E-commerce, oil and gas, media publishing and real estate, among others.

    A brilliant businessman extraordinaire, anything he touches turns into gold.

    To affirm his midas touch, when he announced that he has acquired Konga, a dwindling E-commerce site, two years ago, his competitors were jittery over the acquisition. The the reason is not far- fetched, as they know his capacity coupled with his wealth of knowledge in business will turn the fortune of the company around.

    Blessed with the proverbial magic wand, he successfully merged the company with Yudala and transformed it from its former declining state to a flourishing one, that has now become a brand to reckon with in the sector.

    Read Also: Jumia opens online store

    Society Rendezvous gathered that, within two years of acquisition, he alongside his son, Nnamdi, the Managing Director of Konga, has repositioned and strengthened the online store, making it the number one online shopping mall in the country, while also gaining global recognition for business analysts across the world.

    Sources revealed that its ongoing “Konga Yakata promo” is causing serious headache for its stiff competitors. Since the promo started in November 11, the E-commerce site has raked in millions of Naira which has boosted the revenue of the company. The promo has also registered new customers who visit the site to shop, as well as place adverts for their goods. “Some E-commerce experts predicted Konga to break the shopping record of China’s online supermarket, Alibaba, despite stiff competition from its rival, Jumia, which holds the Black Friday sales record in Nigeria. Alibaba recently smashed its record for the largest single-day shopping sales ever recorded worldwide with a revenue of $38 billion”.

  • Seyi Vodi’s staying power

    by Oladapo Sofowora

    For those wondering how Oluwaseyi Adekunle, known as Seyi Vodi with the imprint “VodiGroups” has remained on top of his game since his 18 years sojourn in the fashion business, his touching success story will indeed make an award winning inspirational business memoir if well scribbled.

    From birth, he never had a silver spoon in his mouth nor pampered with the luxury of life, he rose from being a pure water hawker in Maiduguri to become a consummate fashion businessman. His name “Oluwaseyi” meaning “the Lord has done this” shows he is indeed blessed by his creator. His rise to the top is not by luck, but providence granted him his heart desires.

    Seyi’s business conglomerate include tailoring, fashion, laundry services, fashion institute, shoe making and fabrics/textiles sales. With zero capital, he founded Vodi Group in 2001 after several years of job hunting to become a banker. His failure to secure a spot in the banking arena spurred his innate business mindset. He registered his tailoring business and started off with sewing of boxers and shirts.

    Read Also: What makes difference in conglomerates?

     

    With his uncommon brilliance and finesse, the super dandy upward mobile dude, rebranded and metamorphosed to become one of the best fashion imprint out of Nigeria. Vodi is currently competing with foreign fashion brands across the world. His list of clienteles openly affirms that he is a major key player.

    Despite his God given wealth, the Chief Executive of Vodi Groups has never for once disconnected from his humble beginning. He sees wealth as God-given, which must not only be for himself but also to touch the lives of people around him. He is an unrepentant believer in the popular axiom that; “We rise by lifting others”.

    His state-of-the-art office edifice, located in the heart of Abuja has remained a mecca of sort for top politicians, celebrities, billionaires and businessmen. The stylish philanthropist has over the years, learnt the art of resilience, doggedness, innovation, friendship and sustainability as factors that give a brand longetivity.

    Apart from his keen interest in tailoring and fashion, he is a very generous and cheerful giver. The University of Maiduguri graduate of Geology, has remained a source of inspiration to many young aspiring fashion entrepreneurs. At a well subsidized price, through his Vodi Fashon Institute, with Walton equipped modern tailoring facilities, he passionately trains young fashion enthusiasts on basic rudiments to help them thrive in the fashion business. He often calls the kind gesture a little way of giving back to his immediate society by raising and mentoring giants to secure the future of fashion business in Africa.

  • Inspiring a new generation of African entrepreneurs

    The Africa Netpreneur Prize Initiative launched by the Jack Ma Foundation will award $10 million to 100 African entrepreneurs over thee next 10 years. The foundation is an initiative of founder of Alibaba Group Mr. Jack Ma. Its aim is to support and inspire the next generation of African entrepreneurs. The first 10 budding entrepreneurs, who won this year’s share of the $1 million prize, were announced at the Africa’s Business Heroes Show, with four Nigerian entrepreneurs leading the pack. Assistant Editor CHIKODI OKEREOCHA, just back from the inaugural Africa Netpreneur Summit in Accra, Ghana, reports.

    It took his first trip to Africa in July 2017 to get inspired by the energy and entrepreneurial potential of the young people he met. During the visit, Chinese business mogul and founder of Alibaba Group, a multinational technology conglomerate, Mr. Jack Ma, immediately committed to inspiring, training and supporting entrepreneurs in Africa.

    Ma’s plan was to help build inclusive business models that can create jobs and economic opportunities for the continent. “I have been inspired by the entrepreneurs I met in Africa, many of whom are dealing with the same challenges we faced when we started Alibaba years ago. I truly believe the potential of Africa’s business heroes is limitless,” he said.

    To demonstrate his unflinching commitment to driving Africa’s transition to a digital economy, he announced the establishment of the Africa Netpreneur Prize Initiative (ANPI), a philanthropic initiative aimed at supporting and inspiring the next generation of African entrepreneurs across all sectors who are building a more sustainable and inclusive economy for the future of the continent.

    The ANPI is spearheaded by the Jack Ma Foundation. “We launched the ANPI to identify top entrepreneurs from across the continent, not only to reward them, but to inspire a whole new generation of potential game-changers for Africa,” Ma, who is also the founder of the foundation, explained.

    Under the initiative, the foundation set aside  $10 million grant to be awarded to 100 entrepreneurs over the next 10 years. In other words, the ANPI will award $1 million each year. This will be done at an annual pitch competition where the top 10 finalists will compete to win their share of the prize money.

    The prize is open to entrepreneurs from all industries. But Ma especially encouraged those running small businesses, those making a difference in their local communities and female entrepreneurs to apply. And the response  across Africa including Nigeria was encouraging. Nearly 10,000 applicants from 50 African countries threw their hats into the ring.

    After months of judging and deliberation, a diverse group of 10 finalists, representing a range of industries and experience, was chosen to lead the way for Africa’s emerging digital economy. The 10 lucky finalists, four of whom are Nigerians, had pitched their business directly to four judges during the Africa’s Business Heroes Show held at the Accra International Convention Centre (AICC), Ghana, on November 16.

    The Africa’s Business Heroes Show was the highpoint of the inaugural Africa Netpreneur Summit hosted by the Jack Ma Foundation. It was a platform where African and global entrepreneurs, investors, educators, and leaders  discussed how best to enable entrepreneurship and the digital economy across the continent.

     

    Nigerian entrepreneurs lead the pack

    Among the top 10 finalists Nigerian budding entrepreneur Temie Giwa-Tubosun emerged the overall winner of the Africa netpreneur prize.

    Giwa-Tubosun, who is the founder and CEO, LifeBank, a medical distribution company, smiled home with $250,000, the highest share of the $1 million prize pool. Her LifeBank uses data and technology to deliver blood and other critical medical supplies to hospitals. The company has saved over 5,300 lives in Nigeria.

    She has over 10 years of health-management experience with the Department for International Development, the World Health Organisation, the United Nations Development Programme and Lagos State Government.

    In recognition of her pioneering work, the British Broadcasting Corporation (BBC), in 2014, listed her as one of the 100 women changing the world. She was also recognised by Quartz and the World Economic Forum.

    The $250,000 prize money was a shot in Giwa-Tubosun’s arm. Hear her: “The Africa Netpreneur Prize will give me the resources to grow LifeBank and expand our presence in Nigeria and throughout the rest of Africa. I look forward to continuing my journey to solve problems and make a significant impact on the future of Africa.”

    The burgeoning entrepreneur whose innovative and pioneering work at LifeBank clearly swayed the four judges to her favour said, “It was an incredible honour to be named Africa’s Business Hero. I was truly inspired by my fellow winners at today’s Netpreneur Summit.”

    Read Also: Innovative, promising world of digital agri-preneurs

     

    The four judges who could not resist Giwa-Tubosun’s compelling pitch included FirstBank of Nigeria Chairman and The Chair Centre Group founder Ibukun Awosika, Econet Group founder and Executive Chairman Strive Masiyiwa, Alibaba Group Executive Vice Chairman Joe Tsai, and Ma.

    The judges also declared the founder and CEO, of Nawah-Scientific, Dr. Omar Sakr, from Egypt, second place winner, and he was rewarded with $150,000. The third place position went to founder, Water Access Rwanda, Christelle Kwizera, from Rwanda. She got $100,000.

    The remaining seven finalists each received $65,000. Three of the seven finalists were Nigerians —co-founder, Thrive Agric, Ayodeji Arikawe; founder, Black Swan, Dr. Tosan J. Mogbeyiteren; and co-founder, DrugStoc, Chibuzo Opara.

    The four Nigerian entrepreneurs (including Giwa-Tubosun) are now calling the shot in the African entrepreneurial space by leveraging on the Jack Ma Foundation’s philanthropy.

    For instance, Arikawe’s Thrive Agric, an agricultural technology-enabled company, empowers smallholder farmers with greater access to finance, as well as improves their income and harvest distribution.

    Today, Thrive Agric works with 22,000 farmers in Nigeria. Although the company has its eyes on building the largest network of farmers in Africa, Arikawe, who is a software engineer, said his mission was to build an Africa that feeds the world and itself.

    On his part, Mogbeyiteren is a public-health specialist with more than 13 years experience in deploying technology to solve development challenges in Nigeria.

    He is helping to solve Nigeria’s public-health challenges by deploying an automated scheduling, GPS-enabled software-as-a-service that uses a combination of digital record keeping and community engagement to increase birth registration and early childhood immunisations.

    Black Swan is working with the United States Agency for International Development (USAID) Nigeria to expand WeMUNIZE coverage in northern Nigeria.

    Also, DrugStoc, co-founded by Opara, is a cloud-based pharmaceutical IT and logistics platform focused on eliminating counterfeit drugs, expanding access to pharmaceutical products and improving transparency in pricing for health-care providers and the product supply chain.

    Opara is a health economist and medical doctor with over 12 years of experience in the health sector. He has worked with the World Health Organisation, the World Bank, and the International Finance Corporation.

    While Nigerian entrepreneurs may have undoubtedly taken the continent’s entrepreneurial landscape by storm, other entrepreneurs from across Africa are also pushing.

    Other finalists who emerged from other African countries at the Africa’s Business Heroes Show included CEO, Mumm, Waleed Abd El Rahman (Egypt); Founder and CEO, J-Palm, Mahmud Johnson (Liberia); Co-founder and CEO, UZURI K&Y, Kevine Kagirim-pundu (Rwanda); and Co-founder and CEO, Afrikrea, Moulaye Taboure (Cote D’Ivoire).

    Explaining the criteria for the selection of the top three winners, which include Giwa-Tubosun, the overall winner, Ma said the judges, during the pitch, looked for “A business model that is simple, profitable and sustainable.”

    He said the finalists who competed in Africa’s Business Heroes should be an inspiration for Africa and for the world.

    “Each of these entrepreneurs looked at big challenges facing their communities, and saw them as opportunities,” Ma said.

    He expressed strong belief that entrepreneur heroes, like these finalists, will change the world – creating companies that drive inclusive growth and opportunity for the continent. “Everyone is a winner tonight,” Ma maintained.

    For Masiyiwa, “This competition demonstrates the overwhelming entrepreneurial talent that exists across Africa. I’m very excited about the future of industry and entrepreneurship for this continent. The top 10 truly show the limitless potential of African business.”

    On her part, Awosika said: “What really struck me about the finalists was that they each addressed specific African problems with a specific African solution in a fresh way, leveraging technology that wasn’t available previously.

    “If this is an indication of the future of entrepreneurship on the continent, then Africa’s future looks bright.”

  • Need to mainstream multifunctional small farms

    In times of increasing challenges for farms, an option worth considering is multifunctional farming. Multifunctional farms produce not only food, feed, or fibre but sustain rural development including tourism and recreation.  Experts are advocating for such, writes  DANIEL ESSIET.

    SonghaI Centre farm located in Benin Republic is the most visited farm in West Africa today. Founded by Nigerian born clergy, Father Godfrey Nzamujo in 1985, the farm has been well-known for more than 34 years.  It serves as centre for training, production, research and development of sustainable agricultural practices. An attractive landscape with the beautiful view, the centre provides a mixed agricultural production – farming and livestock.

    It is an example of a multifunctional farm. Songhai farm is one of the largest non-governmental organisation (NGO) farm projects empowering Africans, an integrated farm that uses all its waste produce to generate more income. Songhai Centre is a chain of agricultural research centres established by a Nigerian American for the promotion of the study of sustainable farming techniques.

    The farm has about 15 sections. These are farming, aquaculture, biogas, poultry, mushroom, mechanic, grass cutter, snailery, piggery, grass cutter, quails, among many other things. The Centre receives more than 4,000 visitors each year, thus becoming an agritourism centre that welcomes the general public and government dignitaries from across the world. It engages in human resource training and entrepreneurship as well as wealth generation.

    At Songhai, youths learn about agricultural practices such as organic farming, food processing and natural resources management.

    Following the training, graduates start their own businesses or apply to become farm managers in the centre after a minimum incubation period of one year. Selected graduates are given business installation kits. The centre also provides access to land, seeds and tools. Songhai has also cultivated hybrid varieties of plants for seed crops.

    Generally, Songhaï training includes both classroom instruction and field practicum that provides its graduates with the practical expertise to become successful farmers. The centre also works with local institutions of higher learning and provides practical agricultural experiences for university students..

    The centre lays a lot of emphasis on renewable energy such as biogas, solar, wind and plastic waste conversion. As a result, small and large scale biogas production has been in place for years.

    Read Also: Return to the farms –Lafia emir urges Nigerians

     

    At the Songhai Centre, there is also a mechanical workshop for servicing and repair of vehicles and agricultural farm tools.

    The business is successful because there are no more farms of that type. Moreover, the nature around is beautiful with stunning landscapes and a lot of people want to visit it. Songhai is one of the major agro initiatives that many states in Nigeria had tapped into. Apart from Lagos, Songhai farms are in Katsina, Rivers, Enugu, Delta and Ebonyi States.

    For experts, multifunctional agriculture is an umbrella term that combines agricultural production and environment with services to society: care farming, farm education, farm shops/short chains, agricultural day care, agricultural nature management and agrotourism.

    Advocating for multi-functional farms, the Rector of Moshood Abiola Polytechnic (MAPOLY), Ogun State, Dr Samson Odedina, said such farms are absolutely essential for agricultural sustainability. Speaking with The Nation, Odedina said his dream has been to establish a multi-functional farm where he lives and enjoy good quality of life.

    He explained that multi-functional agriculture encourages not just secure food supply but promotes activities such as leisure farms, educational farms, therapeutic farms, social farms, food farms and environmental farms to offer services and products concerning cultivation, recreation, learning, care, direct marketing, landscape management, and environmental measures.

    For this reason, Odedina said Nigeria has to adopt a multi-functional approach to agricultural development – one that focuses on on-farm productivity and climate adaptation and mitigation, value-addition, and household health and nutrition.

     

  • Niger to engage 50,000 farmers

    Justina Asishana – Minna

    Niger State government said it would engage 50,000 rice farmers to cultivate 50,000 hectares of farmland across the state.

    The Permanent Secretary, Niger State Ministry of Agriculture and Rural Development, Dr. Ibrahim Garba, disclosed this at the flag-off ceremony of the 2019 Dry Season input distribution organised by International Fund for Agricultural Development Value Chain Development Programme Additional Financing (IFAD-VCDP AF) in Mokwa Local Government Area of the state.

    According to him, the state would take advantage of the closure of the border to improve the yield of rice  in order to boost their productivity.

    “With the border closure, it is time for the farmers to take advantage of dry season farming. The dry season should be utilised and not be used to rest. Niger State should be able to feed Nigeria and that is why we are taking advantage of the dry season farming. The government has decided to cultivate rice all year round,” Garba said.

    The Coordinator, IFAD-VCDP AF, Dr. Mathew Ahmed, said IFAD has made arrangements to provide agro-inputs for 2,250 farmers across eight local government areas in the state.

    He said with the inputs, the farmers are expected to produce 6.5 to 8 metric tonnes per hectare instead of the three metric tonnes being produced without agro inputs.

    Read Also: Smallholder farmers need N500m grant

     

    Ahmed also urged the farmers to take farming seriously now especially with the closure of the border, urging the farmers to embrace dry season farming which would go a long way in boosting rice production in the nation.

    He stated that the agro inputs are not free but are 50 per cent subsidized, urging them to use the inputs judiciously and not sell it in the market.

    One of the beneficiary farmers, Jubril Abubakar, said farming needs both financial and equipment support expressing optimism that the agro-inputs will go a long way to boost farmers production.

  • Boosting livestock sector growth

    Domestic demand for meat and dairy products is rising. For this reason, stakeholders are urging concerted efforts to drive expansion in the livestock industry, reports DANIEL ESSIET.

    That Nigerians eat greater percentage of the meat produced in West Africa is indisputable. Data from different sources indicate that an average Nigerian eats meat almost three times a week, which is about nine kilogrammes (kg).

    The growing population, rising incomes and urbanisation are translating into an increased demand for livestock products. About 1.3 million cows are slaughtered annually to provide for Nigeria’s population of about 170 million people. Cattle meat accounts for about 30 per cent of the country’s meat consumption, therefore, it is critical and important to assuring Nigeria’s food security

    Statistics shows that Nigeria was already experiencing shortages of meat due to high level of local consumption. This, therefore, means that the livestock industry is big business in Nigeria in view of the growing demand for meat. As disposable incomes rise alongside population growth in the coming years, consumption of meat and milk is forecast to expand.

    Corroborating this, Food and Agriculture Organisation (FAO) estimates that between 2010 and 2050, beef, poultry meat and milk consumption will increase in Nigeria from 117 to 253 and 577 per cent.

    To this end, stakeholders have urged the country to invest adequate resources in the livestock subsector to enable production of high-value food products to feed the growing population.

    This was the position at the 3rd Daily Trust Agric Conference & Exhibition, held in Lagos. The theme of the conference was: Repositioning Rice, Sugar and Dairy Production for Optimal Yield.

    The dialogue set the stage for roadmap on integrated livestock development. The forum’s aim was to come up with proposals, which would be used to advise the government on measures to improve livestock production.

    In his remarks, the Chief Executive/Editor in Chief, Daily Trust Newspaper, Mallam Mannir Dan-Alli, said livestock plays a pivotal role in the earnings and livelihoods of small-scale and marginal farmers in the country. He said the country needs healthy and productive animals for food security and stressed the need to enhance farmers’ access to high-quality feed and fodder for more productive livestock.

    Read Also: Boosting poultry production through pelleting

     

    He noted that long-term development of the country’s livestock sector requires partnership between government and other actors including private entrepreneurs. He said strategies are needed to guide livestock keepers in balancing the use of feed and fodder to ensure more productive livestock, which would enable them to keep fewer more productive animals.

    Dan-Alli maintained that livestock development is an important component of Nigeria agriculture with abundant social and economic potential.

    Co-Chair, Nigeria Agribusiness Group (NABG), Mr. Emmanuel Ijewere, urged stakeholders to identify ways in shaping the livestock sector across the nation. According to him, there is a need to help countless farmers and other stakeholders in the sector live better lives through livestock.

    He said the livestock sector can create new opportunities for farmers and provide more affordable and healthier diets for future generations.

    According to him, the livestock economy remains largely lowly productive, underdeveloped and hardly attracts investments. This is attributable to several factors including poor breeds and animal husbandry and inadequate financing. Additionally, poor infrastructure has compounded the challenges faced by livestock keeping communities.

    He called for a pragmatic action to help the livestock sector meet growing demand and strengthen food security. Achieving this, according to him, requires a complex institutional response that can stimulate income and employment opportunities in the rural areas, protect the livelihoods of small farmers and improve resource use efficiency at all levels of the value chain.

  • Assessing PMB’s anti-corruption fight

    By Kemi Asemota

    Almost five years into the administration of President Muhammadu Buhari (PMB), it is pertinent to take a closer look at the anti-corruption fight.

    The success of PMB in the 2015 election was largely due to his famed anti-corruption crusade. He is perceived by many to have flawless personal integrity and able to stage a lasting anti-corruption battle.

    PMB had proclaimed in 2015 ”A policy programme that does not have fighting corruption at its core is destined to fail…The battle against graft must be the base on which we secure the country, build our economy, provide decent infrastructure and educate the next generation.”

    Five years on, corruption is yet to go away as its ugly face is still part of the polity. The last election was largely tainted by corruption perpetrated by fraudulent politicians in their desperation to come to power. Money still changed hands to tilt the results to favour some candidates. The one-man, one-vote principle postulated by the Goodluck Jonathan administration was thrown overboard in 2015. The 2019 election was no different as the major parties, APC and PDP (Peoples Democratic Party), went to town outbidding themselves to buy votes.

    Corruption is still very much around. It is endemic in Africa’s most populous country and its largest economy. It is harming public and private businesses and investments. It is reducing the standard of living and weakening the social contract between the government and the people. It is harming the health, education, agriculture, maritime and oil sectors. It is affecting Nigeria’s income, and by extension its GDP, thereby eroding human capacity.

    In a recent report on the impact of corruption on Nigeria’s economy, PricewaterhouseCoopers warned that corruption could cost Nigeria up to 37% of GDP by 2030, or around $1,000 per person, if not addressed immediately. The report found that corruption has a dynamic impact, which is felt the most by poorer households and smaller firms in Nigeria. It means that corruption has rendered the poor even poorer and the rich even richer, not through their ingenuity but by amassing our commonwealth into their pockets. This is why Nigeria’s social economy is at its lowest ebb and slumping further. This is an invitation to social malaise, chaos, disorder, crime and general anarchy.

    That takes me to the question: What has PMB done in five years to limit or eradicate corruption? The facts are there. Former National Security Adviser to President Goodluck Jonathan, Sambo Dasuki is still in custody to answer for the $2bn arms fraud. A large part of the money has been traced and returned to government coffers. PMB has implemented some reforms to block government excesses and corruption. His administration has implemented a Treasury Single Account (STA) with single bank account for all government revenue and Bank Verification Number (BVN) to trace clients and transfers of funds. It claims it has recovered almost $550 million by removing ghost workers from the public payroll, and $2.9 billion of embezzled assets have been returned.

    Two former governors Joshua Dariye and Jolly Nyame were, last year, convicted for fraud while in office and sentenced to jail terms.

    Also, it has taken positive and drastic steps to reduce endemic smuggling at Nigeria’s porous borders by closing the borders since October. Though it has generated mixed reactions among Nigerians, I believe closing our borders would in the long run bring down border corruption and encourage patronage of local produce and services.

    Read Also: When corruption fights back

     

    My submission is that PMB must do more. For one, his anti-corruption campaign has not been all-inclusive. Kano oovernor Abdullahi Ganduje, who was secretly filmed allegedly receiving bribes, has not received the attention of the anti-graft bodies whatsoever.

    The government did not pay much attention to the underhand deals, money-for-vote drama, that were a part of the last elections- especially where it affected his backers.

    However, tackling corruption is not a government thing alone. The solution is multi-dimensional and PMB must create the enabling environment for the business and civil societies to play their own roles in addressing this hydra-headed monster called corruption.

    Civil society has a role to play as a watchdog, demanding transparency and accountability while the business community should also be active in the fight against corruption. The private sector encourages corruption in the system, whether out of willingness or a sense of survival. Businessmen and women can begin to change the culture and system in Nigeria by refusing to engage in corrupt business activities, empowering employees to do business ethically, and working collectively to strengthen institutions and laws that reduce corruption in the system and level the playing field for all businesses.

    The government cannot fight corruption alone.   Nigerians should have an input in its anti-corruption fight. PMB needs to be tolerant of civil society. Nigerians must be given the opportunity to air their opinions and PMB must have listening ears. This way, he can fight an all-inclusive war against corruption.

    I think this is the time for PMB to finish what he has started, and he can only achieve meaningful results by tackling corruption from its source and uprooting it. To achieve this, no sector, section or people should be spared. Corruption has indeed eaten deep into the fabric of Nigeria, and only a widespread, all-encompassing and all-round anti-corruption war can cleanse the nation.

     

    • Asemota writes from Lagos.

  • Elumelu’s sprinter speed

    Broad Street’s iconic buildings and its history make it a phenomenon. One of the iconic buildings on the financial hub of Lagos is the UBA House. The house commands global attention. When UBA is mentioned anywhere in the world, a name comes to mind: Tony Elumelu. He is the bank’s chairman.

    President Muhammadu Buhari yesterday presented Elumelu with the National Productivity Order of Merit (NPOM) “in recognition of your high productivity, hard work and excellence”. The president also honoured Africa’s richest man Aliko Dangote, Oba Otudeko, Col. Hameed Ali (rtd.) and my poetic-prose stylist boss Sam Omatseye.

    What Elumelu, Microsoft chief Bill Gates, Dangote, Geregu Power Plc chief Femi Otedola and TY Danjuma do with their wealth makes them exceptional and deserving of the accolades. They are all preserving the world for the future generation in their way.

    Year in, year out, Nigerian universities push out graduates in various fields with no one to employ them. The unemployment statistics are scary. The curricula run by these universities are so outdated and are not entrepreneurship-focused. This is where Elumelu comes in. Since 2010, he has chosen to lift young entrepreneurs who are the future of any nation that does not want to die.

    Elumelu is running the race to preserve the future for the next generation with sprinter speed. It is not that Elumelu has spike shoes like Usain Bolt, the Jamaican sprinter who holds the world record in the 100 metres, 200 metres and 4 × 100 metres relay; his speed is in his economic model, Africapilatism, designed to move beyond a charitable aid model for combating poverty by stimulating the creative prowess of young Africans to create sustainable economic enterprises that lead to self-sufficiency.

    The first time I took notice of Elumelu was when he was running Standard Trust Bank (STB). At that time I found myself on journalistic trips from Anambra to Kogi to Borno to Yobe and other states in the country. And everywhere I went, STB was there for my cash needs. I could deposit and withdraw money from any of its branches. This was at a time when banking in Nigeria was still at its knees technology-wise. To carry out transactions in other banks at the time, you had to rely on only the branch where you opened your account. Other branches of your bank in the same town could not help you, not to talk of those in other states. STB broke all that and many loved it for that and opened accounts with it.

    Read Also: For Elumelu, Dangote, Otedola, Danjuma, charity begins at home

    I had not quite gotten over the STB wonder when the then Keem Belo-Osagie-led United Bank for Africa (UBA) ran into troubled waters. It needed rescue and I had thought some foreign banks and, perhaps, the like of First Bank, would give the needed help by acquiring it. But the opposite happened; UBA was acquired by Elumelu’s STB. It was a rude shock to me and many others. It was like the dwarf backing the giant. But events over the years have shown the dwarf carry the giant successfully and effortlessly. Or what other way is there to describe the turning of a single-country bank into a truly Africa bank with more than seven million customers in about 20 African countries? Its operations are also in London, New York and Paris.

    The Central Bank of Nigeria (CBN) at a point came up with a policy, which saw Elumelu handing over the day-to-day running of the UBA. He was less than fifty at the time. He still had the energy to give more. Heirs Holdings and the Tony Elumelu Foundation (TEF) came in handy, but it is with the TEF that he is doing what I like the most: Helping those who are hungry to start their businesses in mineral-rich but struggling Africa, the home of the youngest population in the world. He sees these young entrepreneurs as “the lifeblood of Africa’s rise”.

    His charity and entrepreneurial drives have ensured that from Kenya to Uganda to the United States and the United Kingdom, Elumelu has listening ears. The other time when he espoused on his Africapitalism concept, Kenyan President Uhuru Kenyatta smothered him with applause. “By lifting budding entrepreneurs with cash and counselling, Elumelu is doing a good job for Africa’s growth,” Kenyatta said.

    Ugandan President Yoweri Museveni revered Elumelu for his forthrightness and commitment to Africa. “Thank you for the financial support extended to the Ugandan youths,” he said.

    Elumelu has pleaded the cause of the young people at relevant forums. He once urged policymakers at the spring meetings of the International Monetary Fund (IMF) and World Bank in Washington DC not to see youths in Africa as lazy and laidback.

    With TEF’s 10-year $100 million Entrepreneurship Programme, Elumelu has made many young people with start-up ideas across Africa jump for joy. Seed capital, capacity building, mentorship and networking have helped no less than 7,500 African entrepreneurs change their fortunes.

    Nigeria’s Ndubuisi Eze and Sierra Leone’s Edmond Nonie now manufacture drones to help farmers in rural areas map sites. All thanks to TEF, their start-ups have soared.

    Eze, a 2016 Tony Elumelu entrepreneur, became a manufacturer after realising that the drones he was importing from China were not meeting the needs of the African farmers his firm was serving.

    Zimbabwe young entrepreneur Robin Chaibva said of Elumelu: “He has given me hope for Africa despite the feeling that Zimbabwe is not in an economically viable state. Instead of asking my government to give jobs, I realised that I can build a network of enterprises to employ Zimbabweans while lifting communities. Thanks for investing your wisdom and experience with us.”

    Rwanda’s Yvette Ishimwe of Clean Water Delivery start-up said: “Tony Elumelu gave us unique skills that every early entrepreneur would need to build their business idea. This is what is exceptional from many other initiatives. Of course, the money is not small as it helps you expand the idea or the business.”

    Ex-United States Secretary of Commerce Penny Pritzker said Elumelu is one leader driving change throughout Africa. “Tony is an extraordinary partner. His kind of leadership is indispensable for our partnership,” she said. It was not surprising that when the Barrack Obama administration needed help with its Power Africa initiative Elumelu was one of those called on. His Transcorp Power supported Power Africa initiative with a $2.5 billion commitment.

    My final take: Unlike those who blow their cash on booze, hard drugs and women, Elumelu has Nigeria’s Ndubuisi Eze, Zimbabwe’s Robin Chaibva, Rwanda’s Yvette Ishimwe, Sierra Leone’s Edmond Nonie and thousands of others to point at as those he has taken care of and will be eternally grateful. In our little corners, we must work for a situation where someone somewhere can point at us as change-makers.

  • Omatseye missed ‘The Road’

    By Bamikole Omishore

    Anybody who read Sam Omatseye’s piece titled ‘The Road’ in The Nation newspaper edition of November 25, will easily understand the motive behind the effort, even from the first paragraph. It is simply an image laundering attempt in favour of Mr. Babatunde Raji Fashola, the Minister of Works and Housing who was recently caught on a wrong footing while trying to defend the state of the roads in Nigeria. While Fashola deserves the sympathy of ordinary Nigerians on the spin put on his statement about the state of federal roads, one may need to point out that he was just a victim of the same ugly method which his own sympathizers like Omatseye have repeatedly subjected other prominent Nigerians.

    If Omatseye had whatever motivation to defend and help shore up Fashola’s image, he should at least state the truth and stop playing crude politics. His real motivation became obvious when in attacking former Senate President, Dr. Abubakar Bukola Saraki and the Eighth Senate, he made it look like only the senate has the constitutional responsibility to pass the national budget as he did not mention the House of Representatives at all.

    Will Omatseye not know that budget passage is a responsibility of the entire National Assembly comprising the Senate and House of Representatives? Of course, his interest was to take a shot at Saraki. His real interest was to attack the Eighth Senate led by Saraki. And in that process, he created a big factual gap in his write-up.

    Though Omatseye wanted his readers to believe Saraki and the Eighth Senate were the reasons the federal roads in Nigeria are in their present state because the then legislators allegedly cut the vote for capital projects in the budget for the Ministry of Works in 2017, we challenge him to come out and state what is the percentage of budget performance or annual release to that ministry on capital projects since 2015? These figures will enable Nigerians to know that the budgetary figures approved by the legislature are never the issue. The release of funds provided for capital projects in the budget of the ministry is the key thing. We are bold to state that not once since 2015 did the federal government release up to 50 percent of the  capital vote approved for the Ministry of Works, Power and Housing.

    Figures obtained from the government show that in 2016, while the executive proposed N433,400,000, 000 as capital vote for the Ministry of Works, Power and Housing, N422,964,928,495 was eventually passed by the National Assembly. However, only N160,425,193,949 which represents 38 percent was eventually released by the government. In 2017, the proposed capital vote for the ministry by the executive was N553,713,857,113. The National Assembly approved N434 431, 887, 448 but only N91, 832,912,259 representing 21 percent was released by the administration throughout the year.

    In 2018, the proposed figure for the ministry was N555, 877, 594, 442 while the National Assembly approved N682, 959, 550, 242 as capital vote. The release at the end of the year was N222, 823, 057, 223 which represents 33 percent. In 2019, only 34 percent of the capital vote of the budget of the Ministry of Works was released. And that was N133, 519, 401, 405 out of the N394, 906, 215, 852 approved by the legislature. The executive had initially proposed N408, 028, 437, 602 to the National Assembly. Thus, in the first four years of the Buhari administration, the Ministry of Works, Power and Housing got a total of N608, 600, 564, 836 out of the N1, 326, 662, 017, 201 budgeted for its capital projects. And this represented less than 50 percent release. Here lies the main reason why the roads are what they are now. There are insufficient funds to cater for them.

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    These are figures that Omatseye needs to familiarize himself with before making baseless claims simply because he has an assignment to hit Saraki and make excuses for some of his own ‘friends’. Of course, it takes only a writer who is genuinely interested in informing the people to do a proper research and interrogate the derived figures for the purpose of making an objective analysis. But if the interest is just to attack a particular person or a select group, any prose beautified with some quotes from old literature books will do.

    When commentators like Omatseye want the general public to get the impression that the funds for constituency projects of legislators affect the capital votes of the Ministry of Works and Housing, they are only misleading the people. The fund for Constituency Projects is usually on a separate line item outside the budget of MDAs. The constituency projects therefore do not in any way interfere with the funds allocated to the Ministry of Works and Housing or any other MDA for that matter.

    When the 2017 budget was being prepared, people like Omatseye attacked Dr. Saraki for proposing that the Lagos-Ibadan Expressway was the most viable road in Nigeria and should be funded outside the budget so as to allow more funds to be allocated to other non-viable road projects and social service programmes. Today, the current idea of funding the very important Lagos-Ibadan Expressway outside the budget, through the Sovereign Wealth Fund, which Omatseye is now gloating about in his article, is a return to the suggestion earlier made by Saraki.

    Members of the National Assembly as elected representatives of their various constituencies usually insist on equitable distribution of resources and development projects among the various zones. A good example of this was witnessed during the consideration of the 2017 appropriation when National Assembly members from the North actually led a protest to President Muhammadu Buhari on the lopsidedness of the capital vote in the budget of the Ministry of Works, Power and Housing in favour of the Southwest zone. They complained that the huge chunk of the budget of the ministry meant for road construction was devoted to roads in the Southwest to the detriment of other zones, a development they noted, defeated the essence of a national budget. And the complainants actually got the sympathy of the president. And it will be wrong to conclude that as the legislators were fighting for the interest of their constituencies, they were being corrupt.

    It is my prayers that Almighty God should preserve our lives and give us good health to witness the fact that without Saraki in the 9th National Assembly, the capital vote in the budget proposal of the Ministry of Works and Housing for year 2020 will be approved 100 percent, that the releases will be 100 percent, that all federal roads will be reconstructed and they will all become motorable as we desire.  This is my wish and we will be on the lookout for all these.

    However, on The Road he took on Monday, Omatseye missed his destination.

     

    • Omishore is an aide to the former Senate President.

  • An ill omen for our democracy

    By Mike Kebonkwu

    The footages were ugly and gore as violence marred the elections that held in Kogi and Bayelsa states.  It was violence all the way before, during and after the elections. It was fought more like combat than a civic duty.  The massive deployment of security depicts everything else but safety. Investment in security for the elections therefore was not worth the while as it was a free reign of tears and blood and bitterness to the very end. Intimidation and box snatching was the order of the day and the presence of the security people pale into nothingness.    If the outcome of the election in Kogi State is a reflection of the will of the people of that state, then we have completely gone round the bend in insanity.

    If the government   allows this tragedy to stand because it falls in sync with lust for power, then we know that we have gangsters as leaders and I hope not.  It is not about Kogi or Bayelsa now, it is all about Nigeria.  It is about the future of democracy in our country and the integrity of our political leaders.  The result of the two elections is a vote of no confidence on the security apparatuses of the state as well as the government and all so-called democratic forces in this country.  It is an anathema for the people to sit down and allow the antic democratic forces take root in the land.   If we tell the world that we are practicing democracy, then we must rise to defend our ballots.  We should not stand helplessly while our mandate is stolen through the assassin’s bullet.

    The government should not pretend that what we witnessed in Kogi was not a state sponsored attack on the people and the collective will of Nigerians.  What has just happened in Kogi State is bigger than the Kogites. It is our democracy that is being hijacked by state sponsored thuggery.  Tomorrow, Yahaya Bello would leave government just as Seriake Dickson is preparing to leave.  Modu Sheriff left government a long time ago, but we are faced with a holocaust of his brainchild that has metamorphosed into full blown terrorism wearing the visor of Boko Haram.

    Those armed bandits that the security agents allowed to operate because they are watching the lips and body language of their paymasters in government will turn against the state tomorrow when they exhaust their tenure.

    Already, Kogi is one of the states where kidnapping and armed banditry has defied solution.  Why unleash mayhem on the land because you want to be a leader?  It is important for us to be very reflective and take a score card of the APC led government and the anti-democratic and anti-people behaviours of its leaders.  If it is indeed true that we had over 35,000 policemen deployed in Kogi State alone for the election and we witnessed such free reign of violence and electoral heist, then those behind the violence should be scrutinized again.   Why would anybody be at peace with his conscience to stay in power with blood-stained hands of citizens because they have alternative view?

    The federal government shortly before the election released a humungous sum of money to the Kogi State government for federal projects executed by the government.  A beautiful co-incidence with the election you would say.  But wait a minute, where are the projects?  Is it the road infrastructure?  Is it for the resuscitation of the Ajaokuta Steel Company or payment of workers’ salary?

    We have lost the finest moment in Kogi State to hoist Yahaya Bello on the people again with his abysmal record where you have cerebral intellectuals harassed to submission.  We have lost the finest moment when the Chief Judge of the state could be used to preside over the swearing in of a deputy governor in circumstances of open display of travesty of justice.  It is very clear that under the watch of APC-led government, the votes of the people may never count.  The electorate will not determine who represent them any longer but INEC officials and security agents or licensed and armed thugs and in isolated cases, the judiciary.

    The pro-democracy space and activists have contrasted after the demise of its avatars like Chief Gani Fawehinmi, Beko Ransome Kuti, Chima Ubani and Bamidele Aturu to mention but a few.  We now have Civil Society Organisations (CSOs) and Non-governmental Organisations (NGOs) which do not have the appetite to fight against anti-progressive policies of government.   They now exist only for life-line and bread and butter not to take on the state on policies that will improve and advance our democracy and well-being.

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    The social media bill has passed second reading in parliament the purpose of which is to muscle the people from speaking out whereas we have laws against libel and defamation.  Our parliamentarians are even unanimous that offences on social media should attract the death penalty.  That is how base and insensitive the people we voted for are.  We have road infrastructure across the country that have collapsed in places and those who embezzle the huge budgets allocated for these roads have no laws made to punish them.  We have corruption in the power sector just as in other government departments; it is good for them to be patted on the back when we lament over the lost occasioned by the activities of the corrupt officials.

    We have people punished occasionally when they fall out of line with the government; people who manage to find their voices and hold a divergent view on the policies of government. The chairman of the APC, Adams Oshiomhole was once quoted to have said that any person accused of corruption and defects to the ruling APC would have his sins forgiven. Indeed, we have seen that and it is clear manifestation of the type of system we operate in this clime. This is a regime that rode to power on the platform of social media.

    We are living a lie.  We go to bed hungry and the government bring out statistics of the number of people taken out of poverty.  A bag of local rice is sold for between N22,000 and N24,000 in Delta State.  Which worker that earns N30,000 can afford that; assuming that it is only rice that he is going to live on?  Not to distract from our focus, the Kogi electorate should demand that their votes be made to count.  Those behind the violence, arson, killings should be brought to book if we are a serious people.  Let justice be done even if the heavens fall!

     

    • Kebonkwu Esq; writes from Abuja.