The Nation Newspaper

Category: Small Business and Entreprenuership

  • Car diagnostics opens new vista for entrepreneurs

    Car diagnostics opens new vista for entrepreneurs

    Garu Technologies Nigeria Limited Chief Executive Alhaji Lukman Garu is showing the way in auto repair business. His Auto Diagnostics, which makes service delivery faster and responsive, in line with customers’ demand, is the next big thing for aspiring entrepreneurs. DANIEL ESSIET reports.

    For aspiring entrepreneurs, particularly those in the auto repair business, car dignostics is perhaps, the next big thing. With the business  expected to grow rapidly in the future, Garu Technologies Nigeria Limited, Chief Executive, Alhaji Lukman Garu, recommends that this is the right time to explore the bountiful  opportunities therein.

    Garu, who was one of the tech gurus that midwifed the Global System for Mobile Communication (GSM) engineering in Nigeria, first ran a fledgling GSM engineering  startup,  selling  repair  technologies  and solutions.

    He was not deterred by the big players.  He sought and developed a winning approach, which was  the use of cheap repair technology.  With time, he became the toast of clients in the market.

    Garu encouraged young people to start phone repair business. According to him, it was cost effective to set up a telephone repairs startup in terms of infrastructure and manpower.

    Having made an instant success of the business, he quickly transited into car diagnostics, which again became a huge success. This was why he has been encouraging young Nigerians and retirees to explopre the opportunities in auto diagnostics. He has since been training young graduates and entrepreneurs to provide repair and maintenance services based on electronic diagnosis-procedures.

    Garu targets individuals without  a background in car maintenance. He also  provides technicians with an opportunity to brush up their diagnostic skills and learn new techniques.

    He has been searching for interested entrepreneurs from all walks of life, including house wives, retired persons, unemployed and anybody who likes to work and earn money to explore the opportunities in car diagnostics.

    The business, according to him, is not only lucrative, but has the potential to create jobs. He said with auto diagnostics,  service professionals  can  obtain accurate and detailed diagnosis data about each vehicle while allowing a highly efficient and reliable workshop process.

    According to Garu, modern vehicle technology continues to advance at a fast pace and diagnostic expertise is becoming a more critical part of the vehicle servicing process.

    Garu is not the only entrepreneur who has carved a niche in car diagnostics busniess.  OVH Energy Academy, a training academy owned by Oando Energy,  has also keyed into the busniess.

    The firm, in partnership with Garu, has been seeking to fill the skills gap in auto diagnostics expertise for the maintenance of modern vehicles.

    The partnership ensures that businesses in automobile  repairs have access to  top talents entering the industry.

    Garu’s firm recently presented a car engine training simulator and demonstrator, alongside five pieces of Original Equipment Manufacturer (OEM) scanner and 500 pieces of universal oil filter wrench  to OVH Energy Academy.

    OVH Energy graduates have a strong reputation for being well-trained, career ready workers. This will afford small businesses and entrepreneurs  the latest technology as well as high-tech, hands on instruction in  vehicle diagnostics, maintenance and repairs.

    The Head of Lubes, OVH Energy Marketing Ltd, Lilian Ikokwu, said his company’s goal with Oleum academy was to create a well-qualified blue-collar workforce, which will be able to meet local industry demands by providing the tools and resources required to remain relevant in the dynamic auto maintenance industry.

    Ikokwu explaimed that Oando has deemed it imperative to give back to the Nigerian society by educating and equipping auto technicians with the modern ways of troubleshooting fault in cars as well as solving car related problems.

    She said about 5000 auto technicians will benefit from  this  gesture within the next five years, adding that more than 1500 have already benefited.

    Ikokwu hailed the partnership with Garu Technologies Nigeria Limited, which she said will enable technicians meet up with the required standard and have certified qualification.

    “The impact of this social responsibility to the society cannot be over emphasised. The good gesture by OVH Energy will improve the life span of many Nigerian cars, reduce the frustration of car owners, and most importantly, keep the auto technicians in business with modern technology at their disposal,” Ikokwu said.

    The gesture, she said, will also boost technicians’ human capacity, which will in turn improve artisans’ economic activities and positively affect the society and the economy at large.

  • Our success stories, by women entrepreneurs

    They are budding women entrepreneurs with the passion to turn business ideas into reality. Their determination to succeed, against all odds, has paid off. Today, they are role models to other aspiring women entrepreneurs. They shared their success stories during the African Women Power (AWP) Network tagged “Get Connected Business Series” in Lagos.

    Founder, Easyshope-asycook.com, an online groceries business, Mrs Saudat Salami, is on her way to building a business empire. Already, her  company is the toast of customers far and near, seeking fast, convenient and cost-effective grocery shopping experience.

    When The Nation met the successful woman entrepreneur  cum master trainer at the African Women Power (AWP) Network tagged:  “Get Connected Business Series”, held in Lagos, recently, she said  she started the business with the aim of providing support to working women, who may find it difficult managing their homes and work life.

    Mrs Salami was guest speaker at  the forum, which was  created  to provide insights and information needed to help entrepreneurs and employees grow and get to the next level. The entrepreneur, who   pioneered online grocery business in Nigeria, said her company, EasyshopEasycook.com, delivers fresh groceries to customers’ doorsteps.

    Although, she started the business, originally with the target to provide support to working women who may find it difficult managing home and work life, it has since expanded. Today, she catters to the needs of working women living in traffic congested urban areas  such as  Lagos State. She also supports retired, older women who need help with shopping, including people abroad who want to shop for their parents at home in Lagos.

    With more than 25 people on her payroll, Salami is not only an employer of labour, but she has also managed to position herself and her company  in the forefront of developing the agric value chain and food safety standards in Nigeria.

    At EasyshopEasycook, Salami said food waste could be reduced and food prices far cheaper than it is currently  if facilities such as pack houses, cold chain storage and delivery infrastructure are spread across the country.

    In line with her role model status, Salami has been  motivating women, urging them to  take up entrepreneurship.

    However, she is not the only female entrepreneur who has made a success of her career. Future Software Resources Nigeria Limited Managing Director,  and winner of the 2012 Etisalat Nigeria Prize for Innovation, Nkem Uwaje, is also a success story.

    Uwaje created the iConnect project focused on making Information Communications Technology (ICT) and education more accessible to youths in Nigeria.  Her father came up with the name Futuresoft in 1999 when he first incorporated the company. He always told her  that he created the company for her , and when she  was ready to start her own business in 2008, she  inherited it.

    While Uwaje worked for a startup, she realised she  could run the business better than the founder. This gave her the confidence to take the bold step to start her own  company.

    With  $600 as start up capital, she  produced high-quality web solutions at an affordable price and in a timely manner. She then began to re-invest any profit she  made. Since then, she has recovered her  investment and this has been an encouragement for her.

    Uwaje said her long-term goal is to launch various projects  such as iConnect and grow them into self-sustainable business units. This will position the company  as a leading ICT company in Nigeria and West-Africa.

    Asked what were the key things she has learned since starting her business?  She said being bold, patient, never to give up and sticking to  principles are her winning strategies.

    The Founder of the AWP Network, Mary Olushoga, said her organisation recognised women doing amazing work in their various communities.

    Olushoga belongs to a generation of entrepreneurs who caught her teeth in business by understudying her  father who was an entrepreneur. He father owned Fisbol Nigeria Limited. He also worked as a consultant to several  companies such as AJ Seward, Pfizer, Eleganza, Doyin Industries, and Cocosheen, among others.

    This spurred Olushoga to veer into business, starting the AWP network – a platform to empower  small businesses. “We provide valuable access to business resources, educational tools and community support,” she said.

    The idea was to provide a supportive community to African entrepreneurs to grow their businesses that will be sustainable and in turn create jobs.

    So far, AWP Network has  completed a number of entrepreneurial training programmes. These include its training programme for women farmers in Taraba State due to the major sponsorship she received from the Planet Earth Institute. Olushoga said she plans to establish major farming hubs throughout Nigeria.

    Other speakers at the forum  included Director, WAAW Foundation, Tolulope Adeyemo; Founder, Pearls Africa, Abisoye Ajayi and Ubong King.

  • CBN promotes entrepreneurship in Calabar

    Central Bank of Nigeria (CBN) South-South Entrepreneurship Development Centre (SS-EDC) is driving a programme to help youths learn new skills to create micro enterprises, DANIEL ESSIET writes.

    Treating more productive jobs is a major challenge for national development.

    This is because young people have the hardest time finding new jobs, and establishing new businesses to boost economic growth.

    With Nigeria’s high youth unemployment rate, skills are at the core of improving individuals’ employment outcomes and increasing potential for business productivity and growth.

    To experts, providing skills training is one way the government can help young people secure jobs.

    To address this, the Central Bank of Nigeria (CBN) South-South Entrepreneurship Development Centre (SS-EDC) in Calabar, the Cross River State capital, is training young people to become entrepreneurs.

    The centre runs programmes that expose youths to business opportunities, assists them in accessing financial resources and markets and getting the necessary accreditation, and encourages them to make economic decisions. The technical training is supplemented with business advice and training.

    From the programme, CBNSS-EDC  has graduated 488 entrepreneurs.

    A breakdown of their business plans shows that 398 are into agricultural business value chain while the remaining 90 business plans are spread across hospitality, ICT, trading, manufacturing, services and lifestyle.

    CBN Branch Controller, Cross River State, Mr. Graham Kalio, expressed delight at the harvest of seeds sown by  the bank and the fact that some of the graduating students have started businesses and making profits.

    He reiterated that CBN operates in the consciousness that the country’s economy cannot move forward unless MSMEs are supported to thrive and create jobs, and the event is a testimony to that position.

    He advised the entrepreneurs to always remain creative, and that it is only through innovation, that business owners can create an edge for their businesses.

    He charged the graduating participants to adopt the right attitude towards business funds when made available ensuring maximum accountability.

    He condemned the prevalent undisciplined culture towards finance which makes beneficiaries spend loans on things that are irrelevant to the business like marriage, drinking and extravagant lifestyle.

    SS-EDC Programme  Director, Mr. Gbenga Owolabi, charged the entrepreneurs to hit the road with a tenacity of purpose, following through the plans they had articulated.

    He said: “We have worked out how to support each other, challenge set mindset, and break the bonds of waiting for solutions, understanding that with creative thinking, working as a team and accepting our differences, we are a dynamic force that can bring about the birth of a new Nigeria”.

    During his keynote address on “Entrepreneurship and the Value Mandate”, the founding pastor, The Brook Church, Calabar, Pastor Ose Imiemohon, said a man defined 21st century entrepreneurship as jumping out of an aircraft without a parachute and having to build on mid-air to keep him from crashing.

    According to him, “the ability to find opportunity in problems is what defines an entrepreneur and only outstanding entrepreneurs who are constantly coming up with innovation will survive”.

    While testifying to the impact of SS-EDC programme on their lives and business, a rice farmer, Mr. Bassey Itu, said he learnt the importance of product packaging which has helped his business tremendously and thanked SS-EDC and CBN for coming up with Anchor borrower’s scheme for rice farmers which has increased productivity and will soon lead to food sufficiency.

    Another former participant, Mr. Ignatius Okon, said he started fish farming after taking part in the SS-EDC programme. He now produces three batches of fish yearly.

    Another rice farmer, Mr. Akpanke Effiong said joyfully that he now farms three hectares of rice farm and humorously pointed out that he was itching to be at the farm due to the business ethics of dedication which he learned at SS-EDC.

    The event ended with a fashion display from selected fashion designers who are beneficiaries of the SS-EDC programme.

    The SS-EDC over the years have trained over 9442 participants out of which 3560 businesses have  been established and expanded, creating a total of 9,816 direct and indirect jobs.

    The centre has assisted 3035 entrepreneurs to access over N1.6 billion ranging from N50,000 to N10 million.

  • 100 get free empowerment tools

    NO fewer than 100 Nigerians have received vocational tools from District 9110 of Rotary International.

    They include sewing machines, dryersand  makeup equipment.

    Speaking at the presentation last week at Rotary Centre in Ikeja GRA, Lagos, the District Governor Patrick Ijehon Ikheloa said the empowerment was part of the programmes he promised during his inauguration last year.  He said the beneficiaries, who were youths, women and widows, were selected from all the clubs in the district, adding that they were trained in nine courses, which include catering, fashion designing, events planning and make ups.

    He said over N4million was spent on the items, adding that the money was raised from donations and members.

    A representative of the Rotary International President David Roper said the association has one main project: service to humanity. Besides, he said members also contribute to economic development, noting that empowerment was part of it. He advised the beneficiaries to exhibit their talents and support their families with it.

    Lagos State Commissioner for Women Affairs and Poverty Alleviation representative Mrs Funmi Goodluck praised Rotary for the gifts. She said: “When you empower a woman, you empower the world,’’ and that this could have a spiral effect on domestic violence reduction. She advised the beneficiaries to use the items judiciously. ‘’We want to hear your success stories,’’ she charged them.

    Mrs Chima Okoro, who spoke on ‘how to run business sustainably’, said having a skill was different from running a business. She listed business errors as poor record keeping and management, lack of experience and marketing, non-innovation, and poor knowledge of the market and customers.

    She urged the beneficiaries to adopt a winning strategy; without it, he warned, the business would fail

  • Exploring opportunities in logistics business

    The rapid growth of the large and small manufacturing sector has boosted demand for logistics services. However, the local logistics sector has failed to fully meet the demand. An entrepreneur, Yomi Jones, has urged enterprises to explore such opportunities, DANIEL ESSIET reports.

    The Managing Director of Six Continent Travels and Tours Ltd, Mr. Yomi Jones, is one of the boldest entrepreneurs, changing the game in the industry. He represents the optimism, inventiveness and boldness of Nigeria’s entrepreneurs.

    He has not just questioned the conventional wisdom but answered it with fiery and risky business undertakings. He has inspired every young Nigerians to not shy away from breaking the status quo, rewriting the rules and transforming the world.

    According to him, an increasing number of consumers want to build goods on time and the market for delivery is becoming ever more competitive.

    Jones observed a notoriously slow system. But  he  identified opportunities and is urging Nigerians to take advantage in the system and make money.

    The logistics sector, as demand increases, Jones maintained, was in need of better quality services to seize the potential on offer.

    He explained that there is a wide scope of opportunities for Nigerians in the fields of logistics, trucking, warehousing, and food processing, cold storage and supply chain business, among others.

    As a major exporter of agricultural produce and marine products, he said the sector is seeing increasing demand for climate-control transportation and cold-chain logistics.

    In recent years, Nigeria’s agricultural exports have risen significantly.

    The transportation and storage of perishable goods, he noted, requires proper packaging, temperature control and monitoring in order to ensure food safety and quality.

    In this regard, he added that there was considerable development potential for cold-chain logistics and related facilities, such as temperature-controlled warehouses and distribution centres.

    To keep shelves stacked and meet same or next-day delivery obligations, according to him, businesses have to work with logistics businesses to fill the gap.

    With the emergence of local distribution hubs around the country to fulfill the increasing consumer demand for 24-hour delivery deadlines, Jones said the sector needs more service providers to ensure they continue to have the edge in a constantly changing environment.

    The ability to see the opportunities puts small and medium-sized enterprises (SMEs) in an advantageous position.

  • Group holds MSMEs forum June 7

    The Coordinator, SMEs MEET, Mr. Bassey Etim, has said small and medium enterprises (SMEs) development is critical to achieving the goal of the transformation agenda, urging the government to ensure a conducive business environment, and support investors.

    He spoke of the need to create a vibrant, inclusive and holistic business environment for all industries, including micro-enterprises.

    According to him, Nigeria needs to remove the obstacles which hinder the ease of doing business as these are crucial for businesses to prosper.

    He reiterated that a strong growth engine for the nation is the rise in SMEs.

    Etim   said SMEs MEET is organising a forum to address the challenges faced by Micro, Small and Medium Enterprises in Akwa Ibom State and in the Niger Delta region.

    Scheduled to hold between June 7 and 9 at the Ibom E-Library, Uyo, the Akwa Ibom State capital, the enrepreneurs are expected to share and contribute their expertise and resources to help local SMEs to grow, develop and sustain their businesses.

    He announced the SMEs Bright Awards planned to recognise outstanding small businesses in the state with the objective of celebrating and exposing their products and services to the state and beyond.

    He stressed the importance of SMEs in economic development and receive the benefits from the various programmes and plans implemented by the government.

    Etim added that SMEs have an opportunity to secure funding, as well as network and form partnerships and joint ventures with investors at the forum.

    He said the forum was an opportunity for them to make strong partnership that will benefit both parties.

     

  • Journalist finds fortune in palm oil business

    Journalist finds fortune in palm oil business

    A journalist, Blessing Ime Affia, is charting a new path in palm oil business, DANIEL ESSIET reports.

    With a thriving business, the Founder, Chief Executive, Hebron Eagle Palm Enterprise, a subsidiary of Hebron Eagle Communication, Blessing Ime Affia’s  climb to the top is an inspiration to many budding entrepreneurs.

    She speaks of her dissatisfaction with her job as a reporter. It was there she discovered her interest in business that has led to self-sufficiency.

    A graduate  of Mass Communication, she was a newscaster and producer with DBN Television. She was interested in something that would make her financially and economically independent. Her motivation to start her own business began when she realised she was not getting fulfilment in journalism.

    Her words: “I have worked with various media houses, such as  NTA 2 Channel 5, where I basically learnt what media was all about, worked with Silver Bird Television as an Assistant Producer and a reporter for the day’s news bulletin. I also worked with Galaxy TV as a presenter and producer for women’s programme (Woman-to-Woman) and also Children’s programme (Tara-tata- The Children’s playhouse), which I designed. But before then, I worked with the old DBN as a newscaster and reporter.

    She continued: ‘’Hebron Eagle Palm Enterprise -A subsidiary of Hebron Eagle Communication – started when I realised that I was practically not being fulfilled as a journalist at that time.

    ‘’Not being fulfilled in media haunt, I settled into full-time business in agriculture where I used Hebron Eagle Palm Enterprise as a  subsidiary to my Hebron Eagle Communication company which I initially registered.”

    She said: “About two and half years, after I started, it appeared there was no direction but going to FATE Foundation, my business ideas were restructured and my mind was and still is adventurous, reading daily and widely to get more information about palm oil and agriculture as a whole.“

    She is another success. She began the business from her kitchen table in a rented house. She started small. ”I started with N20, 000. I had to call my mum to ask what it would take to start the business and that I would not mind sending that amount immediately and she obliged. In fact, when the “consignments”came, I was filled with joy.”

    Today, the business is striving. “The worth of my business? I will say, is growing. There is an ongoing restructuring at the factory at home. NAFDAC is playing a dominant role. I am trying to get my acts together to do real work.”

    Her challenges: “My failure was not getting funds when I needed it, but I realised it is not all about getting the money but with adequate structures on ground, it will help facilitate the business and create value in the lives of others. I see failures as welcome alternative to growing my entire being greatly.”

    The business is moving from the kitchen table to the factory floor. Currently, the company has a work force of  seven.  Palm oil has been the flagship product of the company.

    It has been the bane of its success. Her business has benefited from unquestioned loyalty borne out of mutual trust. However, as the business   continues to grow, its future success hinges on the diversification of the sector. Right now, she believes she is  yet to realise the full potential of  the  industry.

    She is hoping to expand her agro- based product lines to increase productivity, boost income and improve standard of living. She believes failure is just as important as success. While she admits there is plenty of hard knocks, she is confident her gamble will pay off in the long-term.

    Her joy: “Well, like I always tell my best friend, who is one major source of my daily joy and monitors my growth daily, I am my best friend every second. I look behind today and say that my late dad will be applauding me daily because this was one dream he nurtured systematically when we relocated to the village from Lagos in the early ‘90s before he passed on December 22,1998.

    I am daily fulfilled because people are pleased with the product and satisfied when it brings out that correct taste in your Edikang Ikong Soup,Afang,Atama …and so on. Most especially I am happier when the women who produce the product are happier to be part of the joy of others.”

  • Pushing economic growth through SMEs

    Pushing economic growth through SMEs

    The Federal Government is pushing for the growth of Small and Medium Enterprises (SMEs) for the country to achieve sustained long-term economic growth.  It was one issue that attracted attention at a one-day workshop on nation building organised by Apostles in the Market Place (AiMP), a platform for change agents in Lagos, DANIEL ESSIET reports.

    Addressing widespread poverty is  one of the most-impor-

    tant policy challenges facing Nigeria.

    Not only is poverty high when benchmarked against countries in Asia, but also the rate of poverty reduction has been slow. This was the concern of participants at a nation- building workshop in Lagos, which held at the Civil Centre, Victoria Island.

    The forum was organised by Apostles In The Market Place (AiMP), a network of Christian professionals and leaders in the marketplace who are committed to making a lasting impact on society.

    The focus of the workshop was positioning for economic recovery. The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, was the keynote speaker.

    Enelamah  noted that achieving the goals of ending poverty and boosting shared prosperity would require unprecedented efforts by the government to unleash private sector-led growth.

    This partnership, he added, is strengthened in the Economic Recovery Growth Plan (ERGP)  launched by the government, saying ERGP further reinforces the thrust on entrepreneurship through trade and investment to achieve the government’s goal of economic development and job creation.

    Based on the plan, measures for macro-economic stability, employment, trade and investment, agribusiness, power-sector reforms, infrastructure, competition, science and technology, and anti-corruption, are being pursued to strengthen the nation’s competitiveness and contribute to job creation.

    Reaffirming its commitment to supporting entrepreneurship as a key driver of growth and development, Enelamah said it is the government’s goal to reduce poverty by  pushing economic growth  and  spreading  the payback of its huge economic turnaround among the people.

    He said SMEs have been at the core of the economic transformation and is an important driver of employment and growth, pointing out that the government is focused on easing access to finance, implementing a better regulation agenda and encouraging small and medium scale eniterprises (SMEs) investment in new technologies or markets.

    One of the goals  of the government, according to him, is to improve   infrastructure. He said the government was putting emphasis on SMEs given the sector’s role in allowing the country to achieve inclusive growth.

    Chair Centre Group Chief Executive and FirstBank Nigeria Plc) Chairman, Mrs Ibukun Awosika, said the education system churns out thousands of graduates yearly – this manpower advantage underpins the economic advances since liberalisation, but masks deep-seated problems within its education system.

    While  this is seen as an advantage, Mrs Awosika  noted that it has not succeeded much in equipping promising young Nigerians. She stressed the need to revamp the educational system to support the skills needs of the key sectors.

    She called on the government to ensure that all the relevant partners were working to achieve a common goal and that this is reflected in the investments in skills development and to help people out of universities to secure jobs.

    To ensure continued SMEs growth and contribution to the economy, a former Minister of Communication Mrs. Omobola Johnson advised the government to encourage the private sector to develop a pool of skilled personnel, who can be absorbed in the market and get better at closing the productivity gap to be globally competitive.

    According to her, economic opportunities linked to SMEs are also significant: ICT and mobile technology sectors are growing rapidly, adding that technology space SMEs can tap into a big  market.

    To unlock their potential within the system, she noted there was still  work to be done to help address issues  that prevent SMEs from becoming the engines of growth that the international economy needs.

    Other panelists discussed strategies for the development of the economy while sharing ideas on how entrepreneurs can leverage these and grow their organisations successfully. These include Chief Executive RTC Advisory Services Ltd, Opeyemi Agbaje; Managing Partner, Sahel Capital, Mezuo Nwuneli; and Founder LEAP Africa, Ndidi Nwuneli.

     

  • Improving youth entrepreneurial skills

    Improving youth entrepreneurial skills

    To usher in the next generation of change agents and leaders, the Lagos State Ministry of Wealth Creation and Employment is providing opportunities for youths to gain practical experience and entrepreneurial skills. This will, in turn, support youths to innovate, improve their commercial viability and catalyse economic transformation. DANIEL ESSIET reports.

    THE Sabo Industrial area,Yaba, Lagos State, has been a leading player in the tech entrepreneurship industry by virtue of its strong technological background and capabilities. A crop of innovative startup entrepreneurs is filling up the area’s tech space.

    From applications aiming to automate small businesses, localised software to check for computer viruses, to mobile phone-based solutions that might put an end to chaotic elections, the mobile technology scene is simmering with activities, churning out solutions that can solve Nigeria’s and Africa’s challenges.

    Lagos State Commissioner for Wealth Creation and Employment Mr. Babatunde Durosinmi-Etti, said the development of related industries in Yaba had also led to the creation of business opportunities and value-added services.  These include facilities that meet all industrial needs, such as online processing and services, virtual businesses, collaboration, e-commerce and large-scale data analysis and application.

    To this end, Durosinmi-Etti said the government would transform Yaba to a hub for technology and assist the already-established technology incubators in the area to achieve their potential. Some of the technology outfits in the area include Ardela, IDEA and Co-creation Hub (CC Hub). For instance, CcHUB is Nigeria’s first open living lab and pre-incubation space designed to be a multi-functional, multi-purpose space where work to catalyse creative social tech ventures take place. The hub is a place for technologists, social entrepreneurs, government, tech companies, impact investors and hackers in and around Lagos to co-create new solutions to the many social problems in Nigeria.

    The rapid development of Yaba, the  Commissioner believes, would help accelerate the proliferation of new technologies; as such development would likely become an important issue in ensuring competitiveness. In line with this aspiration, the state government is partnering the Stanford University’s Graduate Business School and a select  stakeholders to develop and transform the city into a technology hub.

    The initiative, driven by the state government, is expected to, upon completion, revolutionise Yaba, identified as Nigeria’s tech city, into the country’s equivalent of Silicon Valley- a hub for technology entrepreneurs in the United States of America.

    According to him, the government is ready to provide incentives to attract investments to the industry.

    With the promise of governmental support to ensure uninterrupted utilities and efficient internet, the Commissioner said there were various special incentives for the investors, adding that Yaba ICT has become one of the priority projects for the government.

    He  said the ministry was training tradesmen and artisans to enhance their productivity and upgrade their skills.

    According to him, the government  is working  to  give skill training to the artisans in that informal industrial sector to help them meet modern challenges in the industry.

    He said the state is set to establish incubation centres to nurture ideas into sustainable businesses in the five divisions in the state.

    He added that the government is offering its support to small and medium companies and that it is leaving no stone unturned to creating a conducive environment to pave way for a flourishing industry.

  • ‘How my mother inspired me to start my business’

    ‘How my mother inspired me to start my business’

    Managing Director/Chief Executive Officer, PayPorte Technologies Limited, Eyo Bassey, is a man of many parts—techie, entrepreneur and venture capitalist.

    He is one of the most successful e-commerce entrepreneurs.   Whether it was his strong work ethic, never-give-up attitude or advice to just believe in him, Bassey is proud to say that the first support to start his business came from his mother.His mother, a civil servant, saved money to get him a computer, which he dismantled and coupled.

    Without her encouragement and belief in him, Bassey said he would not have been able to live his dream. Bassey started his first business venture at 21. Raised in the Federal Capital Territory, he was conferred with the best student award in the West African Secondary School Certificate Examination (WASCE).

    Bassey gained admission to the University of Ilorin where he studied Civil Engineering  and bagged a Masters in Applied Physics from Ladoke Akintola University of Technology (LAUTECH).

    After establishing himself as a developer, he was given the contract by a state government to develop a  software for revenue collection. He introduced the e-receipt system to the government. But to execute the  contract, he needed money.

    To raise funds from the bank for the job, his mother allowed him to use their house. He has since proven himself as a risk taker, founding various companies and  established   online retail shopping platform – PayPorte.

    Launched in 2014, Payporte was the first to launch a 1k Store in the industry to support its customers through the economic downturn.

    He started  the business  with about $100,000. He founded PayPorte at the peak of the first dot-com boom. Few entrepreneurs dared to expand into several markets, while they were in their early stages. But  he  took that plunge headlong.  It is now a highly-valued business. The launch of  payPorte  can, in some ways, be explained as the distillation of many  experiences. Bassey is a successful tech entrepreneur  and  has built an enviable portfolio. He  has been ahead of others in encouraging firms to pivot—refine or change their business models.His investments include online marketplace , logistics provision and ordering app,  among others. At Payporte, he  has built an e-commerce firm that is capital-efficient than most other Nigerian  e-commerce brands.

    Despite the success of PayPorte, Bassey  maintained  that it is still morning for e-commerce in the country. He should know; he launched the company in Abuja  before  relocating to Lagos. He has seen it all—the dot-com boom and the challenge of foreign- funded ecommerce firms coming into the market. But he persevered. He is not afraid to change gears and has an uncanny ability to see beyond the short-term, and though pressure is high at the moment, his clarity of vision allows him to consider the more significant lasting effect of decisions.

    Bassey is hands-on as well,  as it  involves software development  and consulting for other organisations.  He has spent the last four years as the founder/CEO Rom-Flex Technologies, increasing and expanding the business in Nigeria, Africa and beyond.

    Most notable is the ‘Roll-Out Immigration e-Passport, setting up the largest e-library and e-learning hub in East Africa (MUBS Uganda)

    According to him, Nigeria is a large consumer market and its openness is very exciting—it allows players to come to in and push the boundaries of innovation.

    He believes that e-commerce is the future of retail and it will play a big role in Nigeria.

    According to him, the toughest thing about being an entrepreneur is to contend with the choices of what to sacrifice: “You surely can’t have your cake and eat it when you are bootstrapping a business, so making choices and being comfortable in your own skin about the decisions you make are essential.”

    Startup Grind Lagos’ Chapter Director, Uwem Uwemakpan, said the forum was held to highlight and proffer solutions to challenges the Lagos entrepreneur faces.

    Regional Programme Manager, Techpreneur Africa,Teleola Adegoke, urged young entrepreneurs to seek capacity building opportunities to enable them grow their businesses in the face of challenges.