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  • Firm calls for pitches from startups

    Firm calls for pitches from startups

    A leading innovation outfit, ICP.Hub Sahara, at the weekend announced plans to host a startup pitch initiative aimed at empowering startups across Nigeria and other West African countries.

    ICP.Hub Sahara is the official hub for Internet Computer protocol in West Africa.

    A statement by Co-founder of ICP.Hub Sahara, Adedayo Adebajo, said the motive behind the initiative was to support and nurture budding entrepreneurs in Nigeria and the sub-region.

    “ICP.Hub Sahara is introducing a dynamic initiative called “Innovate West Africa: Pitch Tuesday,” the statement reads.

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    It added: “This initiative invites startups operating in both Web2 and Web3 domains, including those leveraging the Internet Computer Protocol (ICP), to pitch their innovative ideas for a chance to win grants and invaluable support.”

  • Firm vows to generate 150 jobs/MW

    Firm vows to generate 150 jobs/MW

    …to reach out to states, LGA chairs for investment

    A private renewable energy firm, Kodion Energy (Kodion Consulting), with offices in Kansas City, Missouri, Nigeria, and China, has vowed that in its bid to generate and supply off-grid electricity, it will be creating 100 direct and 150 indirect jobs per every Mega Watts (MW).

    Speaking in a virtual interview over the weekend, CEO, Joshua Okorie emphasized that the company’s mission goes beyond merely energizing communities; it aims to empower them.

    He said: “But our impact extends beyond electricity. By creating over 100 direct and 150 indirect jobs per megawatt of solar power, we will not just be powering cities but also empowering communities.”

    He insisted that providing stable, clean and affordable electricity in Nigeria is possible.

    The CEO blamed Nigeria’s lingering electricity challenge on the country’s lack of technical know-how to build transformers.

    Wondering why there is an energy deficit in the country, he said the firm has analysed the issues with the national grid.

    “The problem is simple, Nigeria doesn’t have the technical know-how and infrastructure know-how on how to manage energy or power,” he said.

    Korie noted that the solution to the nation’s energy shortage is in solar, wind, and nuclear.

    He said, “The solution to this problem in Africa and Nigeria, to be precise, is solar, wind and nuclear.”

    Asked what is stopping him from coming to develop renewable energy in Nigeria, the CEO said, “What is stopping me is what is stopping a lot of people from coming to Nigeria: who do you know?”

    He blamed bottlenecks and bureaucracy for the delay of localization of business in Nigeria.

    “Also, the politics in Nigeria is too much. How can you navigate the politics? ” Korie asked.

    The CEO, who revealed that he already has his office in Umuahia, Nigeria, said the firm is now seeking further investment in the venture.

    He revealed that “we built the biggest transformer in the US. In Nigeria, we have built transformers up to 250KVA… Currently, right now most transformers are 50KVA to 100 high voltage, depending on where you are.

    “Right now we are building a 25 and 50KV to power in Umuahia. Our office is in Umuahia, we don’t have a factory yet. We need a factory in Enugu to power the things that we need to build our transformers.”

    According to him, the transformers built in Umuahia have been shipped to the US for testing.

    Okorie said now that the 2023 Electricity Act is in force, the firm will reach out to state governments, and local government chairmen for the partnership for the ability to fund the idea.

    The CEO added: “The government should be willing to bring home the companies that have solutions. But the average man knows nobody. We need to invite the government to work with us.”

    He sought the deployment of smart meters and the eradication of energy theft for a sustainable electricity market in the country.

    Asked what exactly he wants from the government, he said “investment.”

    Driving home the advantage of solar energy over thermal plants, he said solar is far cheaper to build and manage.

    He recommended an off-grid solution to the nation’s energy challenge, stressing “Nigeria will never work with the national grid.”

    He revealed that no firm builds transformers and hardware in the country at the moment even as there is presently a global transformer shortage.

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    According to him, the firm’s commitment to local fabrication and skill development ensures that its projects will deliver electricity and drive economic growth and development.

    He also noted that the firm’s technology is not just about power, but also about sustainability.

    Okorie said by harnessing renewable energy, the firm will reduce carbon emissions, mitigate climate change, and pave the way for a greener, cleaner future.

    The CEO revealed that already, the company’s projects qualify for carbon credits, unlocking additional funding and opportunities for Nigeria on the global stage.

    He said he is out to present a solution—one “that not only addresses the challenges we face but also propels Nigeria into a leadership role in solar and clean energy.”

    According to him, Nigeria, with its vast potential, rich resources, and resilient people, has long been poised to become a leader in renewable energy.

  • Firm, FUNAAB partner on food security

    Firm, FUNAAB partner on food security

    Driven by a shared vision of nurturing future agricultural leaders and boosting Nigeria’s food security, natnudO Foods, the food processing arm of Amo Farm Sieberer Hatchery Limited, has joined forces with the Federal University of Agriculture, Abeokuta (FUNAAB) for an innovative entrepreneurial poultry project.

    Under the strategic partnership, natnudO Foods donated 1,000 broiler chicks, feeds, and medication to the university’s Department of Agriculture, as part of its “Natnupreneur University Programme.”

    The Natnupreneur University Programme is not just about raising chickens; it’s about empowering young minds with the skills and knowledge to become successful agribusiness entrepreneurs.

    This unique initiative provides an invaluable platform for students to gain hands-on experience while contributing to their development and the university’s well-being.

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    Under the program, FUNAAB students will rear the donated chicks to maturity, learning every step of the way. From the intricacies of proper ventilation and biosecurity to feed optimization and meticulous record-keeping, the program covers all aspects of broiler management.

    Natnupreneur Operations Manager at natnudO Foods, Abodunrin Wasiu Adeyemi, and Technical Assistant to the Group Managing Director of Amo Farm Sieberer Hatchery Limited, Alaba Yunusa, personally guided 1600 students through the technical aspects.

    Senior Account Officer at natnudO Foods, Ms. Omole Iyabo Morenike, further equipped the students with essential financial skills.

    Budgeting, book-keeping, and managing profit margins are the cornerstones of any successful business, and the Natnupreneur University Programme ensures students are well-equipped to navigate the financial aspect of their poultry ventures.

    According to Adeyemi, the program holds immense potential for the future. “This initiative is about catching them young, training them as entrepreneurs with the fundamentals of raising broilers and selling them back, creating a ready market for their produce,” he said.

    He also said these skills will empower graduates to pursue their poultry businesses, contributing to increased protein availability and economic growth in Nigeria.

    While receiving the 1,000 broiler birds, FUNAAB Vice Chancellor Prof. Olusola Kehinde, commended natnudO Foods for the partnership and the school’s choice for the Natnupreneur initiative, which he said would boost its agricultural potential.

    He added that the knowledge of poultry farming and entrepreneurship imparted to the students will further enhance their skills and equip them for the future, after graduation.

    In his remark, Professor of Monogastric Nutrition and Biochemistry at FUNAAB, Fafiolu Adeboye, expressed his enthusiasm for the partnership.

    “We are sure that this is the way to go, and the training for our students today will go a long way in sharpening their thinking and focus, to ensure they take this as a business so that their future will be secured,” he said.

    A statement by both partners said this collaboration transcends simply donating chicks; it’s about sowing the seeds of entrepreneurial spirit and fostering a future generation of food security champions.

    The statement, which was made available to The Nation, over the weekend, said by investing in young minds and fostering practical learning, natnudO Foods and FUNAAB are paving the way for a brighter, more sustainable future for Nigerian agriculture.

  • Firm records N2.2b profit

    Firm records N2.2b profit

    Veritas Kapital Assurance Plc has announced that in the fourth quarter of the 2023 fiscal year, its Profit After Tax (PAT) increased by 287 per cent.

    The insurance firm’s PAT increased from N562.7 million in 2022 to N2.2 billion last year, marking a yearly growth of N1.614 billion, its Managing Director, Adaobi Nwakuche, said in a statement yesterday, in Lagos.

    The insurer’s profit surge, according to Nwakuche, was due its dedication to boosting shareholder value and improving its business offerings for a customer experience, adding that the company’s growth was a result of its underwriting choices and strategic investments.

    She highlighted the significant increase in the underwriter’s investment income year-on-year due to the positive returns generated by these choices.

    “Veritas Kapital remains dedicated to maintaining its position as a leading insurance provider in Nigeria and is committed to delivering value to all stakeholders,” said the Managing Director.

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    Executive Director of Operations at the insurance firm, Sunkanmi Adekeye, declared a 33 percent increase in the underwriter’s total assets from N17.338 billion to N23.0 billion, and a 17 percent increase in shareholders’ funds from N12.6 billion to N14.74 billion.

    The company’s strong financial performance in 2023 as stated by Adekeye, demonstrates its resilience in challenging economic conditions.

    The insurer holds a prominent position in the Nigerian insurance industry, he insisted, because of its unwavering dedication to providing value and safeguarding the interests of its clients.

    He said: “Clients and stakeholders can confidently rely on Veritas Kapital Assurance’s financial strength and commitment to excellence, making it a trusted partner in safeguarding their interests.”

  • Firm opens centre

    Firm opens centre

    IDP IELTS has extended its services to Ibadan, introducing the option of taking IELTS on Computer at its test centre.

    This addition allows students in the area to access IELTS test without the inconvenience and expenses of  travelling to other cities.

    Speaking to reporters, Darrin Vardon, IELTS Director, hailed IDP’s expansion of IELTS on Computer to Ibadan.

    He noted the flexibility provided to test takers, who now have the choice between taking the test on paper or on computer,

    Furthermore, he stressed the support for students through expert guidance and IELTS by IDP App, facilitating registration and preparation, as well as sharing results on social media platforms.

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    The IELTS test comes in two formats: Academic, designed for those pursuing higher education, and General Training, tailored for individuals seeking employment opportunities or migration to English-speaking countries.

     This internationally recognized language proficiency test serves as a benchmark for English communication skills and enjoys widespread acceptance among universities, employers, and immigration authorities worldwide.

  • Firm raises $6.5m to tackle AI failures

    Firm raises $6.5m to tackle AI failures

    A tech firm, p0 has raised $6.5million from Lightspeed Venture Partners with participation from Alchemy Ventures to help stop catastrophic software failures. p0’s proprietary technology leverages Large Language Models (LLMs) to identify safety and security issues in software before it is ever run in a production environment. p0’s technology provides a single-click solution with no need for additional user configuration.

    p0 can handle a wide range of software issues including data integrity issues and validation failures (including those affecting data security), alongside speed and timeout issues. p0 noiselessly surfaces intelligent and actionable output far more effectively than traditional software reliability and security solutions. Through developer teams simply connecting their Git code repositories to p0, they can rapidly gain insight beyond what traditional rule-based static analysis tools can provide – with the ability to run code scans in just 1-click.

    Co-Founder and CTO of p0, Prakash Sanker, said: “Across the world, recent catastrophic software failures have led to real-world impact on human life and poor outcomes for businesses. At p0, we are determined to stop these safety and security issues affecting our society.

    Leveraging AI, we can go further than traditional software reliability and security tools to ensure society sees the benefits of technology with less risk.”

    Co-Founder and CEO of p0, Kunal Agarwal, said: “We’re building a phenomenal team and product at p0, all focussed around protecting our clients and their users the damage that software vulnerabilities and reliability bugs can cause.

    “As software becomes more intricate and pervasive, the importance of robust testing and reliability checks has never been more apparent. p0 is here to fundamentally change how organisations tackle these challenges head-on by harnessing the analytical power of AI. Our innovative approach empowers developers to write safer, more secure code thereby pre-empting serious run-time failures and exploits.”

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    Before founding p0, Sanker studied maths and computer science at Stanford University and worked at companies including Palantir. Agarwal, an economics graduate from Harvard College, has previously founded a company backed by Lightspeed, Priority Vendor Technologies, which was acquired by Kansas-based C2FO in 2019.

    p0 will use the capital to develop its product further, as it seeks to gain adoption from more users and build its team further.

    Partner at Lightspeed, Hemant Mohapatra, said: ““At Lightspeed we’ve backed over 50 companies using generative AI to create new markets and upend old ones. p0’s cutting-edge approach to code and API security is unique and amongst the first ever truly LLM-native ways of solving this age-old and ever-evolving problem. We are excited to have incubated and backed them from when this was just an idea on paper.”

    In an increasingly competitive and malicious environment vulnerabilities in enterprise codebases can lead to catastrophic security failures. Many times these can be fatal for businesses built on a foundation of customer trust and reliability. Data security is the most fundamental promise that a business can make to its users. Despite this, we have grown accustomed to hearing about massive data exploits on an almost daily basis. It is logical that recent research has found that 71per cent of software engineers are concerned about software reliability at their workplace.

  • ‘Why firm strengthened marine franchise with supervisory board’

    ‘Why firm strengthened marine franchise with supervisory board’

    Obijackson Group, a firm  has said it newly-constituted Marine and Assets Supervisory Board would address the short life span of marine ecology business.

    In a statement, it noted that the board was formed to further support the group’s marine and assets business.

    It said most marine enterprises don’t consider  continuity and  fate of their internal and external publics. “Their only aim is to increase the gains of their founder and make ends meet, hence the constant fluctuations of trade, and the periodical industrial crises, each of which ruins marine economies and throws scores of thousands of workers on the streets,” it added.   

    The new outfit will focus on supervising companies such as White Dove Shipping Company Limited, B&Q Dredging Limited, Shipside Drydock Limited, Scorpio Drilling International Limited, Geepic Aluminium Limited, and Obijackson Investment and Properties Limited, all of which are part of Obijackson Group.

    “The firm  commits to entrepreneurial pursuits with the passion of a humane corporate entity; its internal and external publics -comprising its employees and host communities – come first in all situations and at all times. This is why the group recently constituted a seasoned supervisory board to guide the operations of its marine ventures.

    “There is no gainsaying the Group oversees colossal stakes in local and international marine business ventures. It propagates, within the sector, a business culture that funnels dividends for every stakeholder within its immediate and remote business environments.

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    “It is guided by an entrepreneurial ethic that seeks to provide enough of everything for everybody. That’s how productive and rich its marine enterprise is. Its whole process fosters the proposition that conquests and milestones are worthless without an attendant growth in prospects for the enterprise’s internal and external publics.

    “Guided by robust corporate governance principles, the Obijackson Group upholds a culture rooted in integrity, transparency, accountability, innovation, and excellence. The Group’s primary focus is to bolster long-term value and prosperity through dynamic growth strategies, selective acquisitions, and astute resource management,” the statement said.

    The  Marine and Assets Supervisory Board is chaired by Dr Ernest Azudialu Obiejesi, responsible for policy formulation and guiding the direction of the companies under the board’s supervision. Other esteemed board members include, Mrs Nnenna Obiejesi, Mr Nduka Ikeyi, Mr Gbenga Olaniyan, Mr Nnaji Igwe, and Mr Fabien Monleau.G

  • Firm to resolve housing problems

    Firm to resolve housing problems

    As Wonder Homes and Properties firm has said it will contribute to commercial expansion with its ‘Iyanu Lagos Project’.

    Speaking at the launch, it said the project would offer commercial and residential services to Lagosians, adding it wouldn enhance  develop in Epe, Lagos State.

    “Projects as Deep Sea, Lekki Free Trade Zone, International Airport, central food processing and storage facility, among others, have made Epe the next commercial destination for investors.”

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    Continuing, the firm said: “We intend to achieve this through a flexible and systematic payment plan that meets each individual’s earnings.

     ‘Iyanu Lagos Project’ is our fifth major estate in this axis. Our Wonder Court Estate, where we are developing 1,000 housing units in Oribanwa, Awoyaya area of Lagos, is at 50 per cent completion with residents enjoying the facility,” it said.

  • Firm launches platform to empower content creators

    Firm launches platform to empower content creators

    A renowned firm, Allurie, has announced its latest initiative designed to empower creators in the ever-evolving creative industry.

    A statement by the founder, Samson Akindeinde, said the move was to provide much-needed support for creators to explore their artistic talents without worrying about their financial stability.

    The statement reads in part: “In a bold move that challenges traditional norms, Allurie emerges as a groundbreaking force in the Nigerian entertainment industry, aiming to disrupt the status quo and redefine the sector with the innovation tagged “monetize your passion”

    “There’s more to the Allurie experience! We believe in empowering creators, and that includes putting real value on their talent. On Allurie, content creators have the opportunity to earn US dollars through a transparent and rewarding monetization by sharing educational content, or expressing themselves in unique ways. Each view and subscription on Allurie contributes to your financial success. It is not just a platform; but a catalyst for creators to thrive and prosper.

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    “I envisioned Allurie as more than just a platform – it’s a movement challenging societal norms surrounding adult content. Allurie was born out of a vision to create a space free from judgment, where pleasure and freedom coexist. Join us as we rewrite the narrative of entertainment in Africa and embark on a journey of exploration, empowerment, and celebration.”

    Emphasizing on the journey to empowerment and readiness to embark on an adventure, he said: “Are you already making content in? Becoming an Allurie creator is a simple and empowering process. Start by reading ‘How It Works’ to get a comprehensive overview of the monetization features.

  • Firm expands fresh produce distribution

    Firm expands fresh produce distribution

    A firm, Fresh County Limited, has continued to redefine the food production space by distributing fresh produce to teeming consumers. 

    It has been able to support small holder farmers by increasing the financial value they obtain for their produce, establishing stronger market access and adding value to their raw materials.

     Chief Executive Officer of Fresh County Foods, Mrs. Amaka Emmanuel, stated that the company exists to also provide viable nutrition solutions for a very wide range target audience.

     ”Fresh County is solving vital problems in the society. We are re-introducing longevity to humanity by providing freshly made juices, smoothies, salads and plant-based milk with no added artificial sugar, no preservatives and no additives.

      “We cater for people of all ages with limitations to babies between ages 0-2 years. We cater for the health-conscious individuals, people managing life style illness such as diabetes, obesity and high blood pressure, the fit-farm individuals, pregnant women dealing with constipation, athletes, Invalid and convalescent,” she added.

      She the firm had expanded it Manufacturing As A Service (MAAS) department for B2B customers by 300 per cent, whereby, by servicing  other brands such as hotels, restaurants, caterers, juice bars, supermarkets, schools and other retail outlets.

     “Part of the uniqueness of our products is that our customers are part of the creation process.

    “We are improving on our processes, making it easier for people to access nutrient dense meals. We are creating a quick service option for healthy meals. In this way most of our products will be available on-demand not only to those on pre-booked meal plan.”

    “Presently, we have just expanded our Manufacturing As A Service (MAAS) department for B2B customers by 300 per cent, whereby, we manufacture for other brands such as hotels, restaurants, caterers, juice bars, supermarkets, schools and other retail outlets. In this way, we shall be able to expand the reach of healthy food options.”

     She  noted that Fresh County stands out from the rest of the market due to its unique production process, that places consumer preferences at the center of decision making: “Part of the uniqueness of our products is that our customers are part of the creation process. Our Juices, smoothies and salads are made right before the eyes of the customers, this enables customers to choose ingredients they are comfortable with. Our healthy meals for the invalid and convalescent persons are consciously tailored to each individual need recommended by their nutritionist.”

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     Mrs. Emmanuel also reaffirmed the company’s commitment to following environmentally sustainable industrial processes that are safe for the ecosystem.

     “We are a circularity focused and environmental conscious business operating from farm to table and table back to farm. The waste products from our juicing processes are used as feed for animal husbandry and compost for farming. Our three locations are presently powered by 47% renewal energy in form of solar panels and inverters that reduces carbon footprint in the environment.” she added.

       “Our Juices, smoothies and salads are made right before the eyes of the customers, this enables customers to choose ingredients they are comfortable with.

    “Our healthy meals for the invalid and convalescent persons are consciously tailored to each individual need recommended by their nutritionist,” she said.

      Emmanuel reaffirmed the company’s commitment to following environmentally sustainable industrial processes that are safe for the ecosystem.

     “We are a circularity focused and environmental conscious business operating from farm to table and table back to farm. The waste products from our juicing processes are used as feed for animal husbandry and compost for farming. Our three locations are presently powered by 47% renewal energy in form of solar panels and inverters that reduces carbon footprint in the environment,” she added.