Tag: Femi Oye

As the agricultural sector grapples with shifting economic tides, Chief Executive, SMEFUNDS, Dr. Femi Oye, has called for a strategic pivot toward increased biofuel production and year-round supply of ethanol.

He asserted that the measures are essential to bolstering the farm economy, providing much-needed market stability for growers, and ensuring that energy expenditures remain within local communities.

He noted: “The push for year-round ethanol comes at a critical juncture where farmers are actively seeking expanded market opportunities.”

According to Oye, the transition to higher biofuel blends represents a reliable avenue for increasing farm revenue and revitalising the broader rural landscape.

“Biofuels drive steady demand for corn and soybeans. They create jobs at ethanol and biodiesel plants. They also attract a lot of local investment and keep energy dollars circulating in rural communities, rather than allowing that capital to exit the local ecosystem,” Oye stated.

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On Kike Ai application, Oye highlighted how technology is already bridging the gap between energy production and consumer efficiency. He noted that SMEFUNDS has successfully deployed the Kike Ai application, an innovative digital tool designed to optimise how households and businesses interact with energy resources.

“Our Kike Ai application has helped to promote efficient gas usage and drive retail gas sales. By integrating artificial intelligence into energy management, we are enabling better kitchen management and fostering healthy dietary habits for our users. It is about creating a holistic cycle where sustainable fuel production meets intelligent consumption,” Oye said.

Chief Executive, SMEFUNDS, Dr. Femi Oye, has called on logistics companies to embrace solar energy as a strategic solution for cost reduction and operational efficiency.

Oye stressed that integrating renewable energy is no longer a luxury but a necessity for businesses seeking to remain competitive and sustainable. He noted that the logistics industry, with its high energy consumption for warehouses, climate control, and machinery, is particularly vulnerable to fluctuating energy costs.

 “By transitioning to solar power, companies can produce a substantial portion of their own electricity, leading to dramatic reductions in monthly energy bills and a more predictable financial outlook,” he said. According to him, the initial investment in solar panels typically pays for itself within three to seven years, given their lifespan of more than two decades.

He emphasised that the most immediate benefit of solar adoption is cost savings. “By generating their own power, logistics firms can significantly lower their reliance on conventional grids and mitigate the impact of unpredictable energy prices. This provides a crucial hedge against market volatility, allowing for more accurate budget forecasting,” he explained.

Oye added that adopting solar energy also reduces CO₂ emissions, enabling companies to meet growing legal and social demands for sustainability. He pointed out that logistics firms often have vast, underutilised rooftop spaces on warehouses, which are ideal for solar panel installations. This, he said, not only strengthens a company’s public image but also provides a competitive edge by attracting environmentally conscious partners and customers.

Beyond financial and environmental benefits, Oye highlighted operational resilience as another key advantage of solar power. “Solar energy provides logistics firms with the ability to maintain continuity during power outages or grid failures, ensuring their services remain uninterrupted,” he said. He also noted that combining advanced technologies such as aerothermal systems with solar panels could further maximise efficiency and reduce dependence on external power sources.

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According to him, implementing solar solutions offers multiple advantages—unlocking savings, strengthening monitoring capabilities, improving resilience, and giving businesses a sharper competitive edge. “For any logistics company looking to thrive, exploring the role of solar energy is a strategic move that simply cannot be overlooked,” he added.

Oye also linked renewable energy adoption to broader national challenges, particularly the pressures facing Nigeria’s food supply chain. He said meeting the dual demands of feeding a growing population and upholding environmental stewardship requires bold innovation. Artificial intelligence, he argued, is part of that solution.

He explained that AI-driven tools in the food value chain are already helping stakeholders predict demand by analysing historical sales, weather patterns, and consumer preferences. This foresight, he said, allows producers and retailers to better align supply with actual demand.

SMEFUNDS, he added, is supporting several clean energy initiatives, including innovations in household energy use. One such effort is KIKE AI, an intelligent kitchen application designed to promote responsible gas usage and efficient energy management in Nigerian homes.

 “The application educates users on safe and optimal cooking gas practices, helping to reduce waste, improve safety, and encourage energy conservation at the household level,” he explained.”

The Chief Executive SMEFUNDS, Femi Oye, has urged for joint efforts to confront the surging cost of living, a matter that has become increasingly urgent for citizens, especially with inflation impacting everyday goods and services such as  food, fuel, and housing.

The ranking of Nigeria as the fifth hardest-hit African nation by the global cost-of-living crisis highlights the increasing strain on households. The 2025 cost-of-living index, issued by Numbeo, a data and research platform, shows that Nigeria is ranked 115th worldwide, with a score of 26.4 on the index.

Oye articulated the urgent need for collaboration with the government to confront pressing cost-of-living challenges, proposing measures aimed at curtailing government expenditures and redirecting those resources to other crucial sectors of the economy. He further advocated for the establishment of financial literacy programs to enable individuals to navigate their financial responsibilities more adeptly, while also fostering a culture of savings to address financial uncertainties.

He pointed out the critical need for improved attention towards the expansion of social safety nets, including unemployment benefits and support for informal workers, to enhance financial security for those severely affected by escalating costs.

In line with this objective, he disclosed that his organization has launched an AI-driven kitchen application., Kike AI, which can alert households before their gas supply in the cylinder is depleted.

His words: “This application is intended to help households keep track of their gas usage through a meter device, which informs them when their gas supply is approaching depletion. While a cooking application lacks the ability to directly monitor a gas meter, it can still assist homeowners in estimating and managing their gas consumption. By harnessing historical data and user feedback, the application delivers a comprehensive overview of typical usage patterns and issues alerts when the gas supply is likely to be low, drawing from historical consumption data and current trends.”

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He points out that a central aim of kiki AI is to bridge the digital gap. “The platform is designed specifically for women and marginalized populations, enabling them to showcase their culinary talents and earn a living. The application includes profiles of female chefs, detailing their personal journeys and culinary backgrounds. This initiative not only fosters economic empowerment for women but also aids in the preservation of traditional Nigerian culinary heritage. “

He envisions the app as a significant tool for advancing food tourism, allowing tourists to easily find authentic local dishes and identify restaurants and street vendors highlighted on the platform

He commended the Lagos State government for its steadfast commitment to supporting startups and innovation.

He noted: “The administration’s dedication to creating a favorable environment for entrepreneurship is clearly demonstrated through initiatives such as the Lagos State Employment Trust Fund (LSETF), various funding programmes, regulatory reforms, and the establishment of innovation hubs. These efforts have not only empowered emerging entrepreneurs but have also stimulated economic growth, establishing Lagos as a prominent center for innovation in Africa.

SEC moves to open up capital market opportunities to states (third lead)

As part of strategies to harness the potentials inherent within the various states for wealth creation, the Securities and Exchange Commission (SEC) is to embark on investor education for state governments across the federation.

Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, during a meeting with a team from the World Bank Group and the International Finance Corporation (IFC)  in Abuja at the weekend, said SEC would approach the state governments to help them understand the many opportunities in the capital market.

He said the Commission would strive to enhance state governments’ understanding of financial markets, investment strategies, and regulatory frameworks.

Said he: “Imagine setting up factories that will produce goods that can be exported and earning foreign exchange. A lot of Nigerians would be employed and that would lead to wealth creation and economic development.  

“That is why the Commission will continue to emphasize education, because if they do not know, there is little they can do until they know. Sometimes it is not because they don’t want to do it, it is just because they don’t know and it is our responsibility to give this vital knowledge for wealth creation. There are some states in the country that are so rich but nothing is happening there. All of their wealth is in the ground”.

He added that the strategic approach will commence soon with the executive council of a state in northern Nigeria, to speak to them about the opportunities in the capital market.

“We will create guides, reports, and policy briefs that explain capital market opportunities for state governments, we will translate complex financial concepts into simple, actionable insights and we will use case studies from Nigerian states that have successfully raised capital through bonds or attracted investments in the capital market.

 “We believe strongly that if we go out and speak to these people, get them into understanding exactly the benefits and how it is important, get them to manage their own assets meaningfully well, and harness them for greater economic growth for the states, things will begin to change, it is our responsibility to change the narratives and we will keep at it,” Agama said.

Speaking earlier, Mr. Tom Ceusters, Director, Treasury Market Operation IFC, said the delegation of the World Bank Group and IFC were on a  two weeks mission to Nigeria to have deep conversations with regulators and organisations in the financial sector with a view to coming up with plans to help their endeavours.

Co-founder SMEFUNDS, Femi Oye, has urged the Federal Government to focus on generating more clean energy jobs and providing greater wealth creation opportunities for Nigerians.

According to the International Renewable Energy Agency, as many as 4.5 million off-grid, renewable energy jobs could be created globally,including Nigeria by 2030.

He  pointed out that  the clean energy sector is one field where  the nation’s emerging young workforce has the potential to make a massive impact in accelerating the transition to a sustainable energy future.

 He emphasised that the clean energy sector is a crucial industry encompassing various fields such as bioenergy, geothermal, solar, and wind.

 Oye pointed out that clean energy jobs encompass manufacturing, distribution, installation, and maintenance, highlighting a significant shortage of professionals in Nigeria, including solar panel installers and  energy engineers, and entrepreneurs.

As the  sector continues to expand,he noted  that  demand for a skilled workforce will rise considerably  as higher skills are required for more complex installations.

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He  continued that there were  thousands of Nigerian youths who could be trained and empowered to help the government and the private sector transit to clean energy.

He noted that numerous organisations are taking steps to eliminate carbon emissions from their operations, manufacturing processes, product designs, and supply chains, which presents a substantial job market and wealth creation potential.

Furthermore, he remarked that renewable energy businesses have become integral to the Nigerian economy as individuals seek alternative energy solutions. He  observed: “The growth of the renewable energy services market is driven by an increasing demand for energy-efficient options.”

 Oye also explained that many leading energy companies globally have adopted a network marketing model to enhance sales and expand their reach in a competitive environment. “The success of these multi-level marketing (MLM) energy firms underscores the marketing model’s ability to foster sustainable growth opportunities,”he  added.

According to him, his organisation is on the campaign to accelerate deployment of renewable energy  through  a coordinated  regional  effort to develop  local capacity to meet the needs of this rapidly growing sector.

 He stated, “We operate a scheme that allows individuals to leverage the efforts of others to sell solar and other renewable products for profit. One can generate income even while resting at home. This approach offers a means to earn money and establish a business, ensuring financial stability for families for years to come.”