The Nation Newspaper

Category: Business

  • Firm seeks support for solar power

    Firm seeks support for solar power

    Chief Executive, SMEFUNDS, Dr. Femi Oye has appealed for support for startups that are poised to shape the future of solar power within Nigeria.

    Highlighting the rapid evolution of solar technology, Oye stressed that the sector is driven by “rapid technological advancements and the ever-increasing urgency of addressing climate change.”

    According to  him, the necessity for continuous growth and innovation in this area is paramount.

    He said: “The dynamic nature of the renewable energy landscape requires constant innovation and vigilance, making solar energy a top priority for governments, businesses, and individuals worldwide”.

    He stated that SMEFUNDS is determined to accelerate the expansion of solar capacity by providing sustainable, long-term renewable energy solutions, while also ensuring minimal environmental impact and supporting local communities’ zero-carbon goals.

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    Oye elaborated on the organisations revolutionising the photovoltaics industry through an innovative model that significantly reduces customers’ electricity expenditure. He explained that the company “offers solar systems, storage units, enabling homeowners to become independent of electricity companies and reduce costs.”

    Furthermore, he noted that his organisation prioritised “breakthrough innovation, customer-centric solutions, and excellence, aiming to shape the future of clean energy,” adding it’s ready to help individuals  and organisations integrate solar panels into various devices to reduce fuel consumption and emissions.

    Beyond energy provision, Oye views the renewable energy and green energy ecosystem as a powerful engine for job creation. He argued that “the expansion of green industrial manufacturing and agricultural production could become the engine of sustainable human development more broadly.” He reiterated the industry’s readiness to expand the nation’s renewable energy sector, assessing the opportunities and challenges in leveraging these new green industries to drive long-term employment, particularly among women, youth, and rural populations.

    Within Nigeria’s nascent green energy ecosystem, Oye observed that “climate-smart and green technologies are emerging as a foundation of its innovation ecosystem of start-up MSMEs and the incubators and accelerators to support them.” He indicated that the  innovation ecosystem has formed “the leading edge of the opportunity for MSMEs.” Addressing household consumption, he maintained that with its KIKE AI kitchen technology, SMEFUNDS has “done so much to enable Nigerians manage gas consumption in partnership with retail services providers. Its subsidiary, Kike Technologies, introduced “Kike Ai,” a pioneering kitchen application with the “ambitious objective of creating 1,000,000 jobs throughout the nation.”  Oye envisions a future where a wider economic transformation will result in a greater scale of private sector employment, supporting retail services and sales start-ups initiatives for sustainable development and green industrialisation.

  • NACCIMA partners Germany to facilitate cross-border trades

    NACCIMA partners Germany to facilitate cross-border trades

    National Chamber of Commerce, Industry, Mines, and Agriculture (NACCIMA) and the German Agency for International Cooperation (GIZ) have partnered to strengthen regional integration, facilitate cross-border agricultural trade, and expand opportunities for Micro, Small and Medium Enterprises (MSMEs).

    The partnership was announced in Lagos, over the weekend, during the launch of NACCIMA’s activities under the ‘ECOWAS Agricultural Trade (EAT) Project,with the theme: “Strengthening ECOWAs Agricultural Market to Drive Food Security and Regional Prosperity.”

    Speaking at the event, NACCIMA President, Engr. Jani Ibrahim, said agriculture continues to play a critical role in Nigeria’s economy, noting that in Q4 2024, the sector contributed about 24.64 per cent to the nation’s Gross Domestic Product (GDP).

    He, however, said with the recent GDP rebasing, the share of agriculture in national output has risen, with early 2025 estimates showing about 27.8 per cent rise.  He, however said despite its huge role in the economy, Nigeria’s agricultural exports remain modest.

    The NACCIMA chief said it is against this backdrop that the EAT Project and NACCIMA’s role take on special relevance. He said for NACCIMA, this initiative aligns perfectly with the association’s mandate to empower the private sector, promote enabling policies, and strengthen export competitiveness.

    He explained: “Through this project, we intend to address longstanding bottlenecks that hinder trade through the capacity building of traders and SMEs within the agribusiness value chain, enabling them to meet requirements for regional markets.

     “By unlocking the potential of regional agricultural trade, we are not just moving goods; we are unlocking livelihoods, creating value, deepening regional economic integration, and contributing to food security for millions across West Africa.

     “The opportunities are enormous, with Nigeria’s burgeoning population and rising urban demand, ECOWAS’s vast markets, and the dynamism of our private sector.

     “But we must also recognise the challenges: infrastructure gaps, limited access to finance, weak value-chain linkages, and non-tariff barriers. This is why a coordinated effort under the EAT Project, with NACCIMA as a central private-sector anchor, is so critical.”

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    The NACCIMA boss applauded GIZ and ECOWAS, its development partners, for entrusting NACCIMA with the responsibility.

    He noted that the partnership promises stronger agricultural value chains, better market access, enhanced trade in food and agro-products, and a more vibrant role for the private sector in shaping regional trade in West Africa.

    NACCIMA Director General Sola Obadimu emphasized that agriculture remains a major pillar of Nigeria’s economy, contributing about one-quarter of its GDP and supporting millions of livelihoods.

    He, however, expressed regrets that despite its vast potential, the nation’s agricultural export earnings remain below expectation, even as the wider ECOWAS region with a population of over 400 million people continues to offer huge untapped market opportunities.

    The DG pointed out that the EAT Project is therefore timely, as it strengthens the collective effort to boost intra-regional agricultural trade, improve standards, remove non-tariff barriers, and support SMEs to participate more competitively in regional value chains.

    Obadimu said: “For NACCIMA, this intervention aligns strongly with our mandate to promote trade, support private-sector competitiveness, and deepen regional integration.

     “Under this project, NACCIMA will lead a series of activities focused on capacity building and improving access to market information.

     “Our aim is simple: to ensure that Nigerian agribusinesses are better positioned to take advantage of opportunities within the ECOWAS market and contribute meaningfully to national and regional growth.”

    Program Lead, GIZ- EAT, Arne Schuffenhauver, said the programme is funded by the German government, implemented in partnership with the ECOWAS Commission, and with many other partners in five countries of which Nigeria is one of them.

    Schuffenhauver said ECOWAS trade is one of the biggest markets for food products in West Africa. He noted that the GIZ partnered NACCIMA because the Association gives services to members and non-members on how to better access markets, trade, go through inspections and customs in an efficient way.

    The Program Lead for GIZ- EAT, while noting that NACCIMA is a strategic partner, said EAT project is important to really accelerate trade in food products.

    He listed some of the benefits of the project to include enhanced knowledge, access to information, access to markets, to promote businesses of SMEs and those of youth and women.

    Schuffenhauver said cross-border food trade is a big business valued at $10 billion, meaning there are a lot of opportunities though still laced with challenges for small and medium traders to invest, have access to finance, and to cross the borders without any obstacles.

    He, however, said the project will support in the areas of small infrastructure, cool stores, solar-powered cool stores, including very simple things like transporting a product from a market to the next destination across the border with tricycles.

    Principal Trade Promotion Officer, Nigerian Export Promotion Council (NEPC), Nancy Okpa, noted that the launch marks a significant milestone in regional economic cooperation by creating a structural platform for producers, processors, exporters, policy makers and development partners.

     “This initiative advances a shared vision of an integrated West African market where agricultural value chains thrive. Through this collaboration, barriers to trade are reduced, opportunities for inclusive growth are expanded,” she said.

    Okpa noted that the framework for agricultural trade facilitation lies strongly with the Council’s mandate to support exporters, improve competitiveness and help Nigerian producers meet regional and global demands.

     “We particularly commend NACCIMA and GIZ for their commitment to empowering agricultural businesses and strengthening the capacities of all stakeholders. This initiative comes at a crucial time when strategic patterns are needed to unlock the immense potential of the West African agricultural sector,” she stated.

  • ‘Retail penetration, digitalisation key to insurance growth‘

    ‘Retail penetration, digitalisation key to insurance growth‘

    Stakeholders in Nigeria’s insurance sector have emphasised the critical role of resilience in navigating the challenges facing Nigeria’s insurance industry, as it enables the ability to cope with unexpected challenges.

    This, they emphasised at the 25th Adetunji Ogunkanmi Memorial Lecture themed “Beyond Insurance: Building Resilience, Health, and Legacy,” highlighting its importance in navigating the complexities of the insurance sector.

    Managing Director, Nigeria Liability Insurance Pool, Mrs Adeyinka Adekoya, highlighted the sector’s over-reliance on corporate clients while lamenting the low penetration of insurance products in the retail market.

     “Resilience is the root of everything we are discussing here. It gives us the ability to cope when life throws unexpected challenges,” Mrs Adekoya noted. “But one thing missing in the Nigerian insurance sector today is penetration of the retail market. Most insurers target corporate businesses, yet if we want the masses to benefit from insurance, deliberate efforts must be made to tailor products for ordinary Nigerians.”

    She urged stakeholders to rethink product development with a focus on meeting the actual needs of everyday people, noting that current offerings fail to attract the large untapped market.

     “We need to do more than what we are currently doing. In most cases, insurance products are sold through agents, but we need to go beyond that.”

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    She stressed the importance of embracing technology, emphasising that “without technology, reaching the nooks and corners of Nigeria will be very difficult for us.”

     “So we have to digitalise and be deliberate in our efforts if we want to reap the fruits of our labour in the future,” she added.

     “The truth is, I don’t think we are doing enough in selling insurance, and that’s why penetration remains very low. If you compare Nigeria’s penetration level to other African nations, especially given our population size, it’s clear we are lagging behind.”

     “How can insurance penetration be just 3 per cent with over 200 million people? Considering Nigeria’s current level of sophistication, insurance penetration should be at least 10 to 15 per cent,” she argued. “The only way to achieve this is by going back to basics: digitalising our operations and offering multiple platforms through which customers can easily access insurance products.”

     “Today, many insurance companies provide platforms that allow customers to buy insurance from the comfort of their homes, but we need to go beyond even that.”

     “If you look at the fintech banks, they penetrate local markets remarkably well. Insurance can and should leverage technology to reach that same audience,” she added.

    Mrs Adekoya also pointed out the opportunities presented by the new Nigerian Insurance Act (NIRA), which replaces the 2003 legislation. Although some policies under NIRA are compulsory, she recommended making insurance appealing enough that consumers willingly purchase coverage.

    Managing Director, Cornerstone Insurance Plc, Mr Stephen Alangbo, echoed the need for resilience amid growing risks, including climate change and political instability. He stressed the importance of health and legacy, highlighting the role of insurance in providing security.

     “For us in this part of the world, we need resilience because a lot of things are working against us—from climate change to political instabilities and all that. There are also a lot of risks. So the more we have the mindset to stay longer, the better for us.

     “Then we talk about health. If you have all the money but you don’t have health, you are poor. So it’s generally good to be able to take care of your health.

     “And when you talk about legacy, Tunji’s legacy is what we talk about today. And it’s better for us, not only as Cornerstone ambassadors but as citizens of Nigeria. There’s a need for us to be able to say, if we leave, what are we leaving behind? It takes a sacrifice from everybody. If you leave yourself now, there’s a need to decide what we are giving and what we are getting. That will help us leave a nation we can be proud of when we get old or when we pass on.

     “So legacy is key for us as Nigerians, to ensure that when we close our eyes, what can they say about us? In Yoruba, they say, ‘Let’s close our eyes and do as if we are dead, and let’s see who and who will keep house for us. Let’s see what people will say about us.’ If that is key, then it’s better to take that very seriously than what we gain here.”

    Speaking on insurance penetration in the country, Mr Alangbo said insurance penetration is not as it ought to be, but many things are working to improve the situation.

     “From the Presidency to the National Insurance Commission to the National Insurance Association, everything is working to make insurance improve—from compulsory insurances to the stand of the new management of NICOM to NIA with the new NIRA.

     “It will make insurance very attractive. And we all need to look forward to what the industry is going to be in the future because it’s brighter. I won’t be surprised if, just like in South Africa and some Western countries where insurance-owned banks are strong, we see it in the very near future in Nigeria. I will not be surprised.”

  • Legend, Trojan partner on Africa’s first fibre-to-the-room

    Legend, Trojan partner on Africa’s first fibre-to-the-room

    Legend Internet Plc has partnered with Trojan Estates to deploy fibre-to-the-room (FTTR) technology across Royal Gardens Estate, making it the first fully FTTR-enabled residential community in Africa.

    Under the partnership, unveiled at a launch and contract signing ceremony in Lagos, Legend Internet’s premium connectivity solution, Legend Omni, will deliver fibre-powered internet directly into every room within Royal Gardens Estate.

    The deployment eliminates connectivity dead zones and ensures consistent high-speed access, positioning the estate for smart-home adoption, digital lifestyle integration, and future-of-work readiness.

    Chief Executive Officer, Legend Internet Plc, Aisha Abdulaziz, described the project as a major step forward for Africa’s digital ecosystem.

    “This milestone marks a new chapter in connected living across Africa. Royal Gardens Estate is not only the first to deploy Legend Omni in Lagos, but also a leader in defining what modern luxury living should look like—seamless, smart, and future-ready

    “FTTR is more than a connectivity upgrade, it is the new baseline for premium living. As consumer expectations shift toward uninterrupted digital experiences, our partnership with Trojan Estates demonstrates how technology can unlock new value for homeowners, developers, and long-term investors alike,” Abdulaziz said.

    Managing Director, Trojan Estates, Kunle Tinubu, said the agreement reflected a long-term commitment to technological foresight.

    “Today, Royal Gardens Estate becomes the first estate in Africa to deploy Legend Omni’s FTTR technology. This groundbreaking partnership is the culmination of Trojan Estates’ founding vision—one so committed to enduring value that over twenty years ago, we engineered the foundation for this digital future.

    “We are not just defining luxury living; we are guaranteeing a world-class resident experience and cementing our legacy in iconic real estate development,” Tinubu said.

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    According to him, the project is expected to serve as a model for similar deployments across the region, setting a precedent for how real estate and technology players can collaborate to drive Africa’s digital evolution.

    Investors and industry observers explained that the collaboration signals rising demand for digitally optimized housing and next-generation infrastructure. Legend Internet says the rollout forms part of its broader mission to elevate Nigeria’s connectivity standards and accelerate the adoption of smart residential ecosystems.

    The event also featured attendees from Huawei Technologies, which supplies the FTTR architecture supporting the project.

    Meanwhile, Abdulaziz was named Digital Luminary of the Year at the Association of Telecommunications Companies of Nigeria’s (ATCON’s) Excellence Awards 2025.

    Analysts said the recognition underscored the company’s strengthening position in Nigeria’s competitive broadband market.

    The award, one of the industry’s most coveted, celebrates leaders shaping the strategic direction of Nigeria’s digital economy. ATCON, the umbrella body for telecom operators and infrastructure providers, cited Abdulaziz’s “exceptional leadership, strategic foresight, and commitment to expanding national connectivity” as reasons for the honour.

    Under Abdulaziz’s stewardship, Legend Internet has emerged as one of the fastest-growing fibre broadband providers in the country, reporting improvements in network performance, customer acquisition, and service delivery. Industry watchers note that the company’s aggressive fibre rollout and its engagement on national digital-policy discussions have positioned it as an increasingly influential player in the sector.

    The recognition is expected to boost investor confidence in Legend Internet’s long-term growth strategy as the company competes for market share in a broadband landscape driven by surging data demand, enterprise digitisation, and government-backed digital-inclusion initiatives.

    Reacting to the award, Abdulaziz described the honour as “a reflection of the hard work and resilience of the entire Legend team,” adding that the company will continue to “innovate, expand access, and strengthen Nigeria’s digital foundation.”

    With the accolade, Legend Internet signals its intention to deepen market penetration, scale infrastructure investments, and strengthen partnerships that support its ambition to deliver reliable, future-ready connectivity to individuals, businesses, and communities nationwide.

    Commenting on the achievement, Chief Marketing Officer Shakirah Alaga said the award reinforces the company’s brand momentum and market credibility. “This milestone validates the trust our customers and partners place in Legend Internet. It strengthens our commitment to delivering superior broadband experiences and scaling innovative digital solutions that meet the evolving needs of Nigeria’s households and enterprises,” Alaga said.

    Investors will be watching closely as the company leverages this momentum in what remains one of Africa’s fastest-evolving digital markets.

  • Govt reviews rules to woo investment into national grid

    Govt reviews rules to woo investment into national grid

    The Federal Government is working with the Nigerian Electricity Regulatory Commission (NERC) to review regulations to encourage private investment in transmission lines and make the sector more attractive.

     Minister of Power, Chief Adebayo Adelabu, revealed this much in his remark at the PwC Annual Power and Utilities Roundtable, with the theme: “Multi-tier Electricity Market: Imperatives for Successful Evolution,” which held in Lagos.

    This move, when consummated, is expected to relieve the government of the full 100 per cent funding responsibility for the national grid and transmission network.

    According to him, the government has introduced a willing-buyer mechanism for transmission infrastructure, an initiative that allows private sector participation through a financing framework that enables investment in specific load centers, substations and transformers.

    He said: “Transmission is 100 per cent government-owned and it is too complex for government to continue funding alone.

     “Since there is a transparent willing-charge mechanism for transmission infrastructure, investors have a clear line of sight for recouping their investments”.

    He also emphasised that consumer financing will be crucial for the sustainability of the power sector, serving as a key driver for sector-wide investments.

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    He noted that financing for renewable energy at the consumer level is significantly easier to implement than the wholesale financing required for conventional generation, transmission and distribution systems.

    Minister said: “For the renewable energy space, I support renewable energy not only because of climate protection, decarbonisation, or net-zero commitments, but because of its role in expanding energy access.

     “That is the only realistic way to supply power to remote and border communities without extending the grid where it is not economically viable. Renewables not only improve energy access for rural communities; they also enhance productivity and bring prosperity to largely agrarian populations.

     “Renewable systems support irrigation for farming, solar-powered homes, and improved storage of excess harvests. They also strengthen agricultural processing and value addition through productive-use equipment.”

    The Minister further explained that through the Distributed Access through Renewable Energy Scale-up (DARES) and other initiatives, including a ₦5 billion facility from Sterling Bank, are supporting the distribution of solar home systems through network-based consumer financing.

    The scheme, according to him, allows participants to spread payments over 24 to 48 months, making renewable energy systems more affordable and accessible for rural communities.

    Adelabu explained that the World Bank, AfDB, GIZ, Agence Française de Développement (AFD), and all development finance institutions are supporting the Federal Government to de-risk the renewable energy industry.

    This, according to him, is the reason why many renewable energy vendors are springing up in Nigeria.

    He said, “Under several programmes, up to 30 percent of system costs are subsidised through capital subsidies from the World Bank, DARES, and even the Japan International Cooperation Agency (JICA), which offered a large renewable energy loan facility to Nigeria — around US$190 million — to complement the World Bank’s US$750 million under the Distributed Access Through Renewable Energy Scale-up (DARES) Project.

     “The vendors will contribute 70 percent of the capital. When aggregated, this will grow the industry, provide confidence, and accelerate sector-wide expansion,” the Minister stated.

  • SMEDAN seeks MTN’s partnership to boost job creation

    SMEDAN seeks MTN’s partnership to boost job creation

    Small and Medium Enterprises Development Agency (SMEDAN) has sought the partnership of MTN Nigeria to boost job creation as well as digital technology penetration in the country.

    Director-General, Small and Medium Enterprises Development Agency (SMEDAN), Charles Odii, who made the appeal said with millions of small businesses depending on accurate guidance and easy-to-access support, MTN and SMEDAN’s shared platform will address gaps in communication, misinformation, and access to opportunities.

    He spoke when MTN Nigeria and SMEDAN signed a strategic partnership aimed at accelerating the growth, digital capacity, and sustainability of Nigeria’s 40 million Micro, Small and Medium Enterprises (MSMEs). The signing ceremony was held at the MTN Plaza, Lagos.

    Speaking on the occasion, MTN Nigeria’s Chief Operating Officer, Ayham Moussa, reiterated MTN’s commitment to supporting Nigeria’s economic development, stating that MSMEs are the lifeline of Nigeria’s economy.

    He said: “SMEs are the backbone of the economy and the backbone of employment in Nigeria; we are delighted to power SMEDAN’s platform and provide tools that help MSMEs reach customers, obtain funding, and access wider markets. This collaboration serves both our business and social development objectives.”

    Chief Enterprise Business Officer, Lynda Saint-Nwafor, MTN Nigeria described the MoU as a tool to “meet SMEs at the point of their needs,” noting that nano, micro, small, and medium businesses each require different resources to scale.

    She stated: “Some SMEs need guidance, some need resources; others need opportunities or workforce support. This platform allows them to access whatever they need. We are committed to identifying opportunities across financial inclusion, digital inclusion, and capacity building that help SMEs to scale.”

    Odii emphasised the significance of the collaboration, noting that the agency cannot meet its mandate without leveraging technology and private-sector expertise.

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    He said: “We have approximately 40 million MSMEs in Nigeria, and only about 400 SMEDAN staff; we cannot fulfil our mandate without technology, data, and strong partners. MTN already has the infrastructure and tools to support MSMEs from payments to identity, hosting, learning, and more. With this partnership, we are confident we can achieve in a short time what would have taken years.”

    Odii highlighted that the SMEDAN-MTN collaboration would support businesses across their growth needs, guided by their four-point GROW model – Guidance, Resources, Opportunities, and Workforce Development. He added that SMEDAN has already created over 100,000 jobs within its two-year administration and expects the partnership to significantly boost job creation, business expansion, and nationwide enterprise modernisation.

    The partnership will feature joint initiatives focused on digital inclusion, financial access, capacity building, and providing verified information for MSMEs.

    The event concluded with the formal signing of the Memorandum of Understanding (MoU), setting the stage for the immediate roll-out of tools, content, and resources that will support MSMEs nationwide.

  • Lafarge Africa to train 1,000 PWDs

    Lafarge Africa to train 1,000 PWDs

    Lafarge Africa Plc, a building solutions company renowned for creating a greener planet through innovation and operational excellence, has commemorated International Day of Persons with Disabilities  with the participants of its Disability-to-Ability (D2A) Programme.

    It was in partnership with the Lagos State Employment Trust Fund (LSETF), the Lagos State Ministry of Youth and Social Development, the Lagos State Office for Disability Affairs (LASODA) and Tunde Onakoya,  Founder, Chess in Slums Africa, and Guinness World Record Holder for the longest marathon chess game.

    The D2A Programme, themed: “Ability Reimagined,” which kicked off  is designed to train 100 Persons with Disabilities (PWDs) and equip them with market-relevant vocational and entrepreneurial skills that open pathways to employment, business development, and long-term self-reliance. Participants will receive hands-on training in four key areas: Laptop and Phone Repairs, Make-Up and Gele, Wig and Braids Making, and Shoe and Bag Making.

    To ensure accessibility and inclusivity, the programme was implemented across two hubs; Ikeja (Lagos West) and Ikorodu (Lagos East), allowing beneficiaries from different parts of the state to participate fully.

    Speaking at the event, the Director of Communications, Public Affairs & Sustainable Development, Lafarge Africa Plc, Viola Graham-Douglas, described the initiative as a reflection of Lafarge’s commitment to inclusivity, empowerment, and sustainable livelihoods. She expressed her appreciation to the partners for championing inclusion and supporting the success of the programme.

    Graham-Douglas explained that beyond technical skills, the programme will expose participants to entrepreneurship, financial literacy, and mentorship sessions coordinated by LSETF, ensuring that beneficiaries are not only skilled but also ready to thrive as business owners or professionals in their chosen fields.

     “This programme is very important to us at Lafarge and underscores our commitment to our communities. We don’t just produce building solutions, we build society, homes, and empower people to be the best that they possibly can be”, she said.

     “Everyone has a right to dignity, to make a living, and we believe in real opportunities. A society is not governed by the policy, it is governed by people, committed people, people who really want to make a difference. We really want to make a difference in people’s lives and an inclusive society is one where everyone can make a living and give back in their own way,” she added.

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    In his speech, the program partner, Tunde Onakoya lifted the spirits of the participants, citing his personal story and how playing chess and reading books gave him the opportunity to travel the world despite his condition. He charged the beneficiaries to believe in themselves and take utmost advantage of the Lafarge D2A programme as a valuable opportunity. He encouraged them to be diligent with their God-given skills and use them as a blessing to the world. He commended Lafarge for providing such an opportunity that empowers people living with disabilities.

    Executive Secretary and Chief Executive Officer, Lagos State Employment Trust Fund (LSETF), Mrs. Feyisayo Alayande, joined other key stakeholders at the event to engage the beneficiaries in a speed mentoring session.

    Also speaking, the General Manager, Lagos State Office for Disability Affairs (LASODA), Mrs Adenike Oyetunde-Lawal, who was represented by Dr Adekola Oluwafunmilayo, Director, Monitoring and Evaluation, LASODA emphasized that the responsibility of building an inclusive society does not lie with the government alone but  is a shared task that requires collaboration, compassion, and consistent effort from every stakeholder.

    She commended the partnership of Lafarge Africa Plc and the Lagos State Employment Trust Fund (LSETF) for the impactful entrepreneurship training, which has over 100 beneficiaries. “By supporting business registration and providing starter toolkits at the end of the training, you are empowering these individuals to begin their entrepreneurial journeys with confidence and clarity. This is the kind of thoughtful support that truly transforms lives, and we at LASODA sincerely appreciate your commitment” she concluded.

  • Nigeria, others share innovation cash award

    Nigeria, others share innovation cash award

    Nigeria, South Africa, Kenya and Zimbabwe have shared a total of Euro 18,000 in Schneider Electric together with Enactus, 2025 Energy Transition Battery Innovation Challenge, funded by the Schneider Electric Foundation.

    While the former is the global leader in energy management and automation, and sustainability leader, the former is an international non-government organisation (NGO) dedicated to inspiring students through entrepreneurial action.

    The energy company said this year’s first-place winners exemplify the ingenuity and impact of youth-led innovation across the region.

    They are Nigeria’s Joseph Sarwuan Tarka University with Energiv; South Africa’s BioWatt from WITS University; Kenya’s Strathmore University with Afya Cell; and Zimbabwe’s University of Zimbabwe’s LithiumX project.

    The winners in the four countries shared Euro 18,000 smiling to the bank with Euro 4,500 each.

    According to the energy company, this year’s Battery Innovation Challenge winners demonstrated technical ingenuity, community relevance, and strong potential for scaling impact and have received Euro cash prizes from the Schneider Electric Foundation.

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    In Nigeria, the first place went to Joseph Sarwuan Tarka University (Energiv, €2000): Converting plastic waste into carbon nanotubes to enhance lithium-ion batteries; second place went to Ahmadu Bello University (Cell Matrix, €1500): Machine learning-based smart battery management system to prevent overheating and extend lifespan while the third place went to Kaduna Polytechnic (SmartVolt, €1000): Adaptive charging algorithm extending battery life through intelligent charge control.

    For South Africa, the first place – BioWatt (University of the Witwatersrand – WITS, got €2000): Harnessing microbial fuel cells and efficient circuits to generate electricity from organic waste while promoting STEM education and reducing e-waste; the second place – EcoVolt Innovation (University of the Witwatersrand – WITS, €1500): Pioneering sodium-ion and solid-state hybrid batteries using recycled materials, AI-powered monitoring, and community training; while the third place was shared by Renewable Fuels (Cape Peninsula University of Technology) & BioGlux (Sefako Makgatho University, €1000 shared): Renewa Fuels: Converting biodiesel by-products into bio-batteries; and BioGlux: A biodegradable, glucose-powered medical implant battery.

    In Zimbabwe, the first place – University of Zimbabwe (LithiumX, €2000): Low-cost recycling of lithium-ion batteries using eco-friendly hydrometallurgy; second place– National University of Science and Technology (Ukukhanya 2.0, €1500): Affordable solid-state sodium–air hybrid battery delivering clean, off-grid community power; and third place – Harare Institute of Technology (PowerPulse, €1000): Aluminium–air chemistry battery using recycled aluminium and organic waste-based cathodes.

    Kenya’s frst place went to Strathmore University (Afya Cell, €2000): AI-powered battery health analyser that extends battery life for EVs, solar, and IoT systems; second place – Meru University (E-Waste Management Through Renewable Energy Integration, €1500): Recovering lithium-ion batteries from e-waste for affordable community solar storage; and third place – Machakos University (ChargeAgain, €1000): Repurposing discarded vehicle batteries for sustainable solar storage in rural communities.

     “These innovations demonstrate the ingenuity and determination of English-speaking Africa’s youth to reimagine the energy landscape. This year’s entrants were all winners in their own right and we wish them all the success to take their innovations forward,” CEO & Country Director of Enactus South Africa, Letitia de Wet, said.

    Now in its second year, the Battery Innovation Challenge was conceived by a South African Schneider Electric engineer and is funded by the Schneider Electric Foundation. It empowers young innovators to design battery solutions addressing the region’s most pressing energy challenges. The initiative also forms part of the Foundation’s New Skills for the Future and Innovation programme.

    The programme also celebrates the continued success of the 2024 winners who have used the prize money from the Schneider Electric Foundation to further develop their concepts, including Zimbabwe: Second place winner, Bindura University of Science Education (BUSE), evolved their project CaLIX into VoltStep, a micro-battery module capable of storing the low-voltage current generated from piezoelectric sensors. This is a commercially viable, socially impactful enterprise.

    Within its first year, the project sold 8,070 pairs of VoltStep shoes, generating $104,910 in revenue, provided reliable lighting access for 892 rural students by extending study hours, produced over 900 kWh of renewable kinetic energy, and reduced household lighting costs by up to 65per cent. This project also helped earn them second place in the 2025 Enactus World Cup.

    Kenya: The winning team, Afterlife, provides second life applications by repurposing and recycling worn out batteries.  They also won other awards with their solution like the “Power the Community 2025 International Design Competition” and is now a registered company who also joined the Emerging Circular Leaders programme, sparking national conversations on circular economy innovation.

    Nigeria: Originally launched as Repo during the challenge which won third place, the project has evolved into Ecovolt—a scalable clean energy solution made from recycled e-waste. Ecovolt powers household appliances and small businesses created 20 youth jobs and sold 40 units, with 55 more on order currently.

    South Africa: Airnergy & Tech Solutions, third-place winners, have successfully commercialised their innovation.

    Indicative of the programme’s success is Airnergy & Tech Solutions, who have gone on to successfully commercialise their solutions ElectroBoost300, a 300W portable power station, now on Takealot (South Africa’s largest online retailer), providing reliable lithium-based storage for households, students, and small businesses.

     “Schneider Electric believed in us. Their support and funding helped Airnergy & Tech build a viable product, and that gave our team the confidence to keep pushing forward with sustainable energy innovation,” Neo Moabi of Airnergy & Tech Solutions, said.

    Marketing Communications & Corporate Citizenship Director, English-speaking Africa at Schneider Electric, Adds Elihle Obi, said: “The Battery Innovation Challenge is proof that with the right support, students in our region can create scalable, sustainable solutions that accelerate today and tomorrow’s energy transition. We are proud to form part of this truly life changing initiative.”

  • Firm unveils incentives for film development

    Firm unveils incentives for film development

    Africa’s fast-growing virtual cinema platform, Circuits, is pushing a bold new economic agenda for Nollywood—one that combines digital distribution, anti-piracy technology, state-backed creative funding, and an unprecedented lifetime welfare scheme for film icons.

    The company said the goal was to build a more equitable and commercially sustainable industry framework for both pioneers and emerging creators.

    At a media roundtable in Lagos over the weekend, the company unveiled a sweeping set of interventions—from monthly lifetime stipends and health insurance for ageing movie legends to a $15 million state-backed creative fund and a national digital skills pipeline designed to place one million young Nigerians into paid creative and technical roles within 18 months.

    Circuits’ Chief Operating Officer, Imade Bibowei-Osuobeni, described the initiatives as a deliberate effort to correct long-standing economic distortions in a sector valued in billions but lacking in institutional protection for its pioneers.

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     “This is not charity, it is an economic responsibility. The men and women who built Nollywood’s cultural wealth deserve lifetime dignity, not abandonment. We designed the Film Veterans’ Dignity Fund to correct a long-standing economic injustice in the creative industry,” she said.

    The Fund currently supports three industry icons including Chief Pete Edochie, Idowu Philips (Iya Rainbow) and Chief Lere Paimo, with monthly payments for life, alongside comprehensive health insurance. It is Nigeria’s first private-sector, recurring welfare mechanism specifically built for veterans above 70, with more beneficiaries scheduled for induction in phases.

    Beyond welfare, Circuits is positioning its platform as a new economic infrastructure for African cinema—one built on scheduled virtual screenings, anti-piracy enforcement, and a Pan-African content marketplace.

    Bibowei-Osuobeni described Circuits as “Africa’s first true pan-African virtual cinema—scheduled, pay-per-view, and designed to protect intellectual property while expanding revenue channels for filmmakers.”

     “Films premiere on the platform at specific times, mirroring the experience of physical cinema attendance. When you buy a film on Circuits, you are paying for a scheduled seat, not random access. That ensures creators receive real-time, measurable income,” she said.

    The platform’s limited-release window, which makes films available only for a short period, has boosted scarcity value and improved yield for producers, she added.

    But the toughest battle remains piracy.

     “In one day, we can record 10,000 infringements, and we take down more than 9,900 almost within minutes,” the COO said.

     “In under a year, we removed over one million illegal channels and URLs. Without this fight, creators cannot earn what they truly deserve, and the economy cannot grow,” she added.

    Circuits’ economic ecosystem extends beyond cinema distribution into state-level creative development.

    Ekiti State was the first to commit $15 million to the Ekiti State Creative Impact Fund, aimed at training residents, producing state-owned content, and boosting Internally Generated Revenue (IGR).

     “Fifteen other states are in the pipeline and are at different levels of conversation. This is not another government project; this is a commercially anchored system that builds jobs, strengthens state finances and gives young people paid digital skills,” Bibowei-Osuobeni said.

    The rollout begins in January, with thousands of youths expected to enter new employment pipelines in content creation, technical production, digital operations and marketing.

    In December, the platform will kick off what it calls its most ambitious distribution experiment yet, a community cinema model executed with theatrical distribution partner Blue Pictures.

    The pilot will feature Agesinkole: King of Thieves Part 2, with screenings held across community halls, event centres and town squares in the South-West.

    She said: “We are taking cinema to communities across the South-West at N3,000 outside Lagos and N4,000 within Lagos. We want families at the grassroots to experience Nigerian film at a price they can afford. This is an economic inclusion model.”

    The platform also secured rights to reintroduce the blockbuster Agesinkole Part 1, which sold hundreds of thousands of cinema tickets at release.

    To deepen user engagement ahead of its expansion drive, Circuits will **stream AFCON matches to over 100,000 viewers who join the platform’s waitlist—at no cost.

     “It is part of testing mass-market digital behaviour in a tough economy,” Bibowei-Osuobeni explained.

    January, she said, will also see the launch of a Kids’ Corner designed to grow family-oriented content consumption and strengthen subscription value.

    According to the COO, Circuits is extending its digital footprint into other industries, including tourism and hospitality. Through a partnership with the National Institute for Hospitality and Tourism (NIHOTOUR), the platform is supporting digital training for hospitality and tourism workers nationwide.

     “Entertainment technology must serve multiple sectors. If we strengthen tourism training digitally, we expand another job-creating value chain,” she said.

    She noted the company’s LaunchPad programme, its flagship youth employment channel, has onboarded more than 1,600 trainees, many of whom are already earning stipends in roles across digital marketing, customer support, content operations and technical functions in over 25 states.

     “Our goal is one million young Nigerians empowered within 18 months. Creativity and digital work are now economic lifelines,” Bibowei-Osuobeni said.

    She added that Circuits’ long-term vision is to anchor a combined creative-technology-tourism economic network capable of delivering recurring jobs, new state-level revenues and sustainable income systems that protect both established and emerging creators.

  • Rite Foods wins four sustainability awards

    Rite Foods wins four sustainability awards

    Rite Foods Limited has reaffirmed its social responsibility excellence by winning four major awards at the 2025 Social Impact and Sustainability Awards (SISA) and The SERAS Africa Sustainability Awards 2025.

    The company emerged as a winner in four categories including ‘Best Health-Focused CSR Programme of the Year’, ‘Education Empowerment Champion of the Year’, ‘CEO Champion of Corporate Responsibility at SISA Awards’ and ‘Best in Supply Chain Management at the SERAS’.

    While presenting the CEO Champion of Corporate Responsibility award, the organiser of the event, Eche Munonye, applauded the Managing Director of Rite Foods Limited, Seleem Adegunwa, for his firm commitment to sustainability initiatives and meaningful social interventions that continue to uplift communities and inspire transformation across the industry.

    Head, Corporate Affairs & Sustainability, Rite Foods Limited, Ekuma Eze said the recognitions affirmed Rite Foods’ firm commitment to advancing healthcare, improving educational outcomes through sustainability ideas, and championing sustainable initiatives that uplift communities across Nigeria.

    He said the awards reinforced the company’s mission to embed people, planet, and purpose at the heart of its business operations.

    According to him, Rite Foods’ culture of innovation continues to set it apart, with strong focus on its sustainability commitments which is hinged on the company’s EYEC framework-environmental stewardship, youth empowerment, education and community development.

    Eze dedicated the awards to the team at Rite Foods saying, “This achievement is a testament to teamwork and collaboration”.

    He highlighted that the company’s bold marketing campaigns and consumer-centric initiatives continue to strengthen connections with its diverse audiences.

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    The awards were presented at the award ceremonies featuring key stakeholders in the Fast-Moving Consumer Goods (FMCG) industry and Nigerian business landscape at the MUSON Centre and at the Oriental Hotel, Lagos.

    The company’s expansive product portfolio of 13 variants of Bigi carbonated soft drinks, the premium Bigi table water, Sosa fruit drink in five variants, Fearless energy drink, and the newly introduced Bigi Flex, Rite Spicy Beef, and Bigi beef sausage rolls all produced in a world-class facility equipped with state-of-the-art technology.

    Rite Foods’ continued excellence has earned it multiple accolades in recent months, including three honours at the 2025 Edge Awards Outstanding Carbonated Soft Drink Brand of the Year (Bigi Apple), Outstanding Sausage Brand of the Decade (Bigi Beef Sausage Roll), and Outstanding FMCG Corporate Brand of the Year (Rite Foods Limited). In addition, the company received the highly coveted Food Company of the Year 2024 award at the Independent Awards, further cementing its reputation as a proudly Nigerian, truly world-class organization.