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  • Zinox boss rallies young innovators at Enugu TechFest

    Zinox boss rallies young innovators at Enugu TechFest

    Chairman of Zinox Group, Dr. Leo Stan Ekeh, has rallied young innovators at the Enugu Tech Festival organised by the Enugu State government.

    Drawing from his over three decades journey of pioneering success in Africa’s tech ecosystem, Dr. Ekeh captivated the audience with hard truths and inspirational insights on entrepreneurship, resilience, and the boundless potential of technology when deployed ethically.

    “Hope is not a strategy in the 21st century,” he told the audience. It was a sharp reminder that while optimism is valuable, it must be matched by concrete skills and bold execution. In a world dominated by algorithms, artificial intelligence, and disruptive innovation, he said success belongs to those who dare to act and build decisively.

    The ovation that followed his address revealed the fire he had lit in the hearts of young tech enthusiasts present.

    He urged them to use technology not just to make a living but to change lives. “Tech has the power to redefine Enugu, Nigeria, and Africa — but only if we approach it with purpose,” he declared.

    Read Also: Court throws out case against Zinox boss Ekeh, others

    Everyone who spoke before and after echoed the same rallying cry: tomorrow begins now. Mr. Olawande, characterized the event as the largest youth gathering for a technology-focused program. He further praised the organizers and reaffirmed the Federal Government’s commitment to youth empowerment.

    In his speech, the executive governor of Enugu state stated that his government has set a bold target of growing its economy from $4.4 billion to $30 billion in eight years through a 27per cent annual growth rate. Initiatives like this tech festival are strategic steps toward that vision, positioning Enugu as a hub for business tourism, innovation, and inclusive prosperity.

    “But for this dream to materialize, all stakeholders must act. Our future will match our imagination, only if we dare to build it. The Nigeria we want will depend not on hope, but on action,” he said.

    The city of Enugu, once famed for its coal deposits, is fast becoming a beacon of technological promise.

    This transformation was powerfully underscored at the Enugu Tech Festival, a landmark event organized by the Enugu State government through the Ministry of Science and Technology under the leadership of Honourable Commissioner Dr. Prince Lawrence Ezeh. With: “From Coal to Code,” as theme, the festival marked a bold shift from legacy industries to a future powered by innovation.

    The event featured a constellation of industry leaders including Dr. Peter Mbah, the Executive Governor of Enugu State; Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani; Minister of Youth Development, Mr. Ayodele Olawande; Founder/Chairman Geometric Power, Prof. Bart Nnaji; CEO Tenece Holdings, Dr. Kingsley Eze; Dr. Obinna Iyiegbu, Chairman Cubana Group; Tomi Davies, CiC at TVC Labs, among others.

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  • Zinox, Huawei to deepen partnership

    Zinox, Huawei to deepen partnership

    Zinox Group has restated its commitment to deepening the existing partnership with Chinese original equipment manufacturer (OEM), Huawei Technologies.

    Chairman of Zinox Group, Mr. Leo Stan Ekeh, who gave the commitment in Lagos while being presented with the new HUAWEI Mate XT, commended the OEM for its continued innovation and roll out of high quality products. 

    Expressing gratitude for being the first Nigerian to experience the device, he said: “Our partnership will remain steadfast.  Thank you, Huawei, for your incredible contributions to the industry. With this remarkable innovation, I feel inspired to strive for longevity, embracing the possibilities technology brings.”

    Mr. Ekeh conveyed his appreciation to the Huawei team for this honour. He expressed interest in securing units of the handset but noted the high global demand and limited availability. Upon unpacking the smartphone in the presence of his guests and staff, Mr. Ekeh described the elegant device as a “testament to God’s definition of a new lifestyle.”

    The HUAWEI Mate XT, a tri-fold phone launched in September earned Best Smart Phone globally. Before its release, it had over 8 million pre-orders. Even though the lowest specification unit’s official pricing was $2800, the price per unit for the privileged few who pre-ordered and chose to sell owing to extreme scarcity and demand reached over $20,000 on the Chinese black market.

    While international shipments may take some time, Nigeria is fortunate to have received three units of Huawei’s ground breaking smartphone. The presentation was made at the Zinox Group Corporate Headquarters, Yudala Heights, Victoria Island, Lagos.

    Huawei officials said the presentation to Mr. Ekeh was in recognition of his strategic contributions and pioneering role in Nigeria’s tech sector and, by extension, Africa’s digital transformation.

     Mr. Ekeh’s career includes his tenure as Microsoft’s Global Partner Advisor and his recent acknowledgment as Forbes Best of Africa’s Leading Tech Icon. He has earned numerous accolades for his visionary entrepreneurship and his role in transitioning Nigeria and other African nations from analogue to digital democracy. His work encompasses innovations such as digital dispensing pumps, e-commerce platforms, WiMAX, wireless cloud solutions, and advancements in the health and educational sectors.

    Huawei Technologies, a global leader in telecommunications and electronics, has always been at the cutting edge of innovation, breaking boundaries with innovation. Known for its advanced technologies, Huawei aims to extend its dominance and challenge competitors like Apple. The launch of the Mate XT is part of its strategy to maintain leadership in the global smartphone industry.

    Read Also: Zinox Group chair optimistic about economy

    The HUAWEI Mate XT, unparalleled in power and design, is truly a world-class device with an inverse dual-hinge design that allows it to fold in a unique “Z” shape. This feature enables the phone to transform between a traditional single-screen phone and a 10.2-inch triple-screen foldable device, providing flexibility for various uses. The OLED display measures 6.4 inches when collapsed, delivering exceptional clarity and colour. When unfolded, it offers users a larger, immersive experience perfect for multitasking or entertainment.

    Equipped with 16GB of RAM and storage options ranging from 256GB to 1TB, the Mate XT ensures powerful performance, supported by Huawei’s in-house Kylin chips and an AI assistant for enhanced usability. The 5,600mAh battery powers the device, with fast charging options of 66W wired and 50W wireless, allowing users to stay connected on the go.

    The device’s luxurious design and top-tier specifications come at a price starting from $2,800 for the 256GB model. Despite its high cost, the device has already garnered massive demand, with about 8m million pre-orders reported. In some cases, the Mate XT has been resold for up to $20,000 in China’s black market, highlighting its status as a highly coveted product.

    Huawei’s partnership with TD Africa will make this ground breaking device available to the Nigerian market. The collaboration between these two tech giants ensures that cutting-edge devices like the HUAWEI Mate XT are accessible to Nigerian consumers. In addition, shoppers will be able to purchase the Mate XT on Konga, Nigeria’s leading e-commerce platform, when it hits the market.

  • Why we acquired Konga, by Zinox

    Why we acquired Konga, by Zinox

    The Zinox Group has acquired Konga to create jobs for over 750 youths and deepen the e-commerce space in the country. Many workers of the company laid off in the restructuring process may be recalled.

    Zinox Head of Corporate Communications Gideon Ayogu, who made the clarification to The Nation said the decision to invest in Konga was an easy one for the Zinox Group.

    “We have always had an interest in Konga and another big one you know very well but our priority was Konga first because of her integrated nature of four quality companies in one. Konga is a world-class, professionally-run company whose landmark strides in the sector has gone a long way in ushering millions of Nigerians into the ease and convenience of online shopping while boosting the conduct of e-commerce in the country.

    “Today, many Nigerians can attribute their first experience of e-commerce to Konga.com and we are excited to be a part of this remarkable story. Many shoppers can also attest to the speed and efficiency in delivery that characterizes KOS-Express, the company’s logistics arm, which is arguably the best in the sector at the moment.

    “Our ambition is to up the tempo by revolutionising e-commerce on the African continent, with Konga at the fore-front of this initiative. In addition to positioning the business on a path of profitability in the short term, our long term plans are focused around seeing Konga well established in other African capitals. Furthermore, we will be unveiling a lot of new initiatives soon and we advise shoppers and merchants alike to look out for these innovations which will radically reshape the average customer experience of e-commerce in Nigeria and on the continent,” Ayogu explained.

    The acquisition of the e-commerce powerhouse was concluded after successfully rounding off months of long-drawn negotiations with major investors, Naspers and AB Kinnevik.

    Based in South Africa, Naspers is a broad-based multinational internet and media group, offering services in more than 130 countries while AB Kinnevik, founded in 1936, is a Swedish investment company investing primarily in digital consumer brands.

    Through this acquisition, the Zinox Group, foremost integrated ICT solutions conglomerate and Original Equipment Manufacturer (OEM), will expand its operations to e-commerce, an industry it pioneered in the country with the launch of BuyRight Africa.com which was challenged by the absence of credit card and e-payment infrastructure when it was launched over 12 years ago.

    The acquisition has passed all regulatory approvals by the Securities and Exchange Commission (SEC).

    The Zinox Group, arguably Africa’s most-integrated technology group, will assume ownership of the e-commerce platform, Konga.com which remains one of the biggest players in the sector and its KOS-Express, a world-class logistics arm of the business in additon to KongaPay, the company’s integrated mobile money payment channel with over 100,000 subscribers.

    Widely expected to place Konga, Nigeria’s largest online mall on a sound footing for increased market share, the acquisition is seen by industry watchers as one that could see e-commerce in Nigeria finally unlocking the massive revenue potential in the global multi-billion  dollar industry.

    Interestingly, this unprecedented development is coming at a time when global e-commerce spending is expected to top previously unheralded levels. In 2017, retail e-commerce sales worldwide amounted to $2.829 trillion while e-retail revenues were projected to grow to $4.48 trillion in 2021.

    Konga had recently announced a shift to a prepay-only model, essentially putting a stop to Pay on Delivery (PoD) – a significant decision which formed part of an internal restructuring aimed at cutting costs and putting the business on a growth trajectory. This move, coupled with the new investment, is expected to spark an up-turn in the company’s fortunes which will see Konga assume a more significant share of the e-commerce market.

     

  • Zinox to Nigeria: take advantage of $19tr IoT market

    The Chairman, Zinox Technology Group, Dr. Leo Stan Ekeh, has urged policy makers in the information communications technology (ICT) space in the country to ensure that they take the right steps to ensure that the country benefits from the $19trillion market of Internet of Things (IoT)

    He said Nigeria and indeed, the African continent stand to gain immensely if they can leapfrog from their present deep slumber on ICT ecosystem development and engage the values of IoTs – whose estimated market potential is valued at $19 trillion by 2020.

    The Zinox chief who was justifying the decision of the firm to sponsor Chris Uwaje – the former president, Institute of Software Practitioners of Nigeria (ISPON) to speak at the 2017 Global IoTs forum in Geneva, Switzerland, it is in furtherance of its corporate philosophy and superior business principle to continue the acceleration and development of the digital revolution of the country.

    Uwaje, also known as Oracle of the Nigeria IT profession, is the Africa Chair on Communications and Publicity- first Global Internet of Things Summit (GioTS) in Geneva. He will be speaking as a panelist on Africa perspectives and challenges on Ipv6.

    Zinox explained that with this sponsorship, it assumes leadership in the drive of national ICT Policy and strategy matters, where government should at all times be at the driver’s seat, adding that in the absence of this, and cognisance of the future requirements of 70 per cent youths that makeup Nigeria/Africa population, it took up the challenge toward sustainable progress of the nation and the continent.

    Uwaje was selected and invited to represent Africa and speak as a panelist of the Global Internet Version 6 (IPv6) Forum on the state and challenges of Ipv6.

    “IoT is rapidly evolving with the substantial risk of not paying attention to safety, reliability, privacy, security, and interoperability. Research has a fundamental role to enable a globally interoperable IoT and to make it right,” General Chair and President of the IoT Forum, Sebastien Ziegler, said.

    Also commenting on the importance of the forum, Co-Chair and President of IPv6 Forum, Latif Ladid, said: “GIoTS 2017 will attract experts from industry and research in current and emerging technologies such as 5G-based IoT, software defined IoT, IoT-centric cloud computing, including the Social Internet of Things.”

    According to the United Nations Development’s Programme (UNDP) Human Development Report of 2013 (UNDP,2013), Africa contributes 35 of the 45 poorest countries. Given these high poverty levels, most African governments (especially sub-Saharan Africa) are still struggling to provide basic needs such as food, shelter, health, water and sanitation and education among others and therefore technology innovations take a back seat. While the world’s Development Index stands at 0.694, that of sub-Saharan Africa is at 0.475.

    The IPv6 session will attract speakers from the five continents to outline the deployment efforts of IPv6-based IoT research and best practices. The deployment in different countries is taking different shapes and forms considering the differing continental user requirements at this stage of deployment. This session will try to harmonise and draw a common roadmap for deployment of IoT networking capabilities and architectural definitions to make sure “Internet of Things” are scalable, inclusive of several communication media, secure, future proof and viable for businesses and endusers.

  • Govt funding in ICT ‘ll create billionaires, says Zinox chief

    Govt funding in ICT ‘ll create billionaires, says Zinox chief

    With the right kind of investment in technological platforms and support of the government in providing the requisite enabling environment, Nigeria can effortlessly produce global billionaires from the Information Communication Technology (ICT) sector, the Chairman, Zinox Group, Leo Stan Ekeh has said.

    Ekeh who has built arguably Africa’s most integrated ICT conglomerate – the Zinox Group – is confident that with significant investment in ICT, the challenge of youth unemployment, inadequate opportunities and growing restiveness among the youth would be tackled. For this to happen, however, the government has to actively engage the youths by investing massively in ICT which, in his opinion, has become the fancy of young people.

    He said opportunities abound in the rapidly evolving ICT-driven future – a knowledge economy in which wealth is no longer the exclusive preserve of a privileged few.

    “The miracle of ICT is that it is the only profession in the world today that can make the child of a poor man the richest man in the world. The challenge, however, is that majority of our youths are in a closed community in which the standards are still poor so they cannot exhibit their innate intellectual strength. As a result, they are seen as defeated and a lot of them are unemployed.

    “We are doing our bit to correct this situation but government support will go a long way in helping the country achieve more. Presently, Zinox is building digital training centres and tech hubs across the country and empowering many of our youths. We have also committed some significant investment in a number of tech start-ups. Recently, we invested in an Ibadan-based software company – Xputer. Interestingly, some of the apps being created by the young chaps are driving the business processes of the major e-commerce outfits in the country. All they needed was a bit of exposure and support to help them scale up.

    “The same situation applies to many of our youth. Today, if you give these youths the right platforms, which I must say is not expensive, Nigeria can produce a minimum of 10 billionaires from the ICT sector in the next few years,” he told CNN.

    According to him, 90 per cent of youths today want to go into trending professions; lifestyle professions and that is what ICT really is. If government invests in this sector as it should, Nigeria is capable of producing several billionaires straight out of the technology space, he added.

    Ekeh pioneered Zinox Computers, Nigeria’s first internationally certified and most popular indigenous computer brand which has powered several international conferences including the African Union conference in Gambia and the 18th Commonwealth Heads of Government Meeting (CHOGM) held in Abuja in 2003, in addition to being severally deployed by the Independent National Electoral Commission (INEC) in the registration and successful conduct of elections in Nigeria.

    “We came with a computer with an in-built surge protector in line with the peculiar power challenges in Nigeria. At Zinox, we are closest to the people with 14 offices nationwide. Zinox has sold in every local government and town in the country today and the call centre is 24 hours. It’s a brand for Nigeria – global standard but specific to Nigeria,” he noted.

    Ekeh ranks as one of Africa’s most passionate digital entrepreneurs and he has staked this reputation by pioneering several successful technology start-ups and taking them to the zenith of marketplace competition. A first rate Indian-trained economist and risk manager, he was honoured as an ICON of Hope by former President Olusegun Obasanjo on October 1 2002 for his sustained pioneering effort in the area of Information Technology and also as a pride to modern Nigeria.

  • Zinox chief to youths: ICT knowledge crucial to digital economy

    Zinox chief to youths: ICT knowledge crucial to digital economy

    Chairman of Zinox  Group Leo Stan Ekeh has advised the youth and entrepreneurs to embrace the numerous opportunities for wealth creation, which abound with the growing pace of digital revolution and the knowledge economy.

    He said with global shift to information communications technology (ICT), wealth had become a right for all in the 21st Century.

    Ekeh spoke during an entrepreneurship summit with: The ABC of wealth creation and sustenance in the 21st Century as theme.

    It was organised by the Imo State University and its alumni association in partnership with an e-commerce outfit, Yudala, at the University Auditorium at the weekend.

    Imo State Governor Rochas Okorocha was represented by House Speaker, Acho Ihim; Vice Chancellor Prof. Adaobi Obasi, other principal officers of the university as well as several first class traditional rulers.

    Ekeh, who was the guest speaker, decried the attitude to quality education among Igbo youths, a generational problem which he traced to parents who erroneously assumed that education delays the progress of a man.

    He said: “The political leadership of the Southeast for decades has bemoaned the falling enrolment in schools. However, the mindset among many seems to be: Why do we need formal education when all we have to do is find the fastest way of making clean money? ‘Seek ye wealth first and all the rest shall be added unto you’ or drawn straight from the Bible in the book of Wisdom – ‘money answereth all’.

    “This mindset should change to ‘knowledge answers all’. In the 21st Century, knowledge is your right and the most important capital before cash.

    “Wealth creation would always be about generating material values and accumulating same but the knowledge economy says to us that the processes must change. These tools are to be used to reorganise society and fire innovation. The knowledge economy has shrunk the global village even further and our aspirations must rise above the tripod of Hausa, Yoruba and Igbo battle for supremacy. The globe must be the platform for our operations and it has been since 1859 but we need to look inwards if we are to take advantage of the knowledge era.

    “The Igbo entrepreneur would have to take quality education more seriously as deficiency in this is already a minus to her intellectual capacity to sustain her enterprise.”

    In his opinion, innovation, which he defined as when an invention meets a customer,  represents one key success factor for many budding entrepreneurs who seek to enjoy digital wealth.

    “There are Igbo entrepreneurs, including my humble self who have made huge investments in Lagos, Abuja, the UK, along the East and West Coast of Africa who would have no choice other than make investments at home given the qualified manpower and irresistible innovations. The 21st Century venture fund would be delivered to innovations no matter where they are found – China, Indonesia, South Africa, Israel, Brazil, name it.

    “The point being made here is that the world needs innovations – answers to challenges confronting humanity – and the 21st Century Igbo aspiration should be to provide these innovations that are technology driven so that the products would be cost efficient and cost effectively reach more consumers world over,” he said.

    Urging the audience to embrace the ICT revolution, Ekeh noted that there is a clear and urgent need for training and re-training in a bid to reveal the potentials of ICT to all.

    “It is important that I make it quite clear that what I am advocating is not that everyone must be an ICT professional. What I am saying is that every professional or entrepreneur at least for selfish reasons must be ICT literate enough to ensure that every sector of the economy is ICT driven. It is accepted globally that only ICT can catalyse national development at the pace that satisfies the high expectations in good living of the 21st Century,” he said.

  • Zinox secures N7.88b European tech fund

    Indigenous information communication technology (ICT) giant, Zinox Technologies, has secured $25million (about N7.88billion) counterpart funding with which it intends to roll out three digital hubs across the country.

    The Chairman, Zinox Group, Leo Stan Ekeh, explained in text message that the funding is a “Technology Research and Innovation loan from the European Technology Trust Fund.”

    The fund will be used to build three ultra-modern digital hubs across the country to promote the development of a digital economy and complement Federal Government’s efforts to increase ICT sector contributions to gross domestic product (GDP) and job creation.

    The digital hubs, one of which  is already being constructed in Port Harcourt, the Rivers State capital will, among other things, create employment and empower thousands of digital-minded youths in search of the right platforms to develop their skills. Same with the one located in Abuja which is nearing completion and all things being equal, will become active early next year.  With the current improvements raising hopes of stability in public power supply next year, Zinox plans to install the digital plants and commence production shortly.

    Ekeh, who spoke at the weekend in Lagos when Acting Director-General, Dr  National Information Technology Development Agency (NITDA), Dr. Vincent Olatunji, as well as other executives of the agency paid an official working visit to Zinox Headquarters in Gbagada, said the economy is in dire need of an alternative to crude oil, stressing that the ICT sector can effortlessly play that role by boosting the nation’s dwindling earnings.

    He said there are millions of digital-minded Nigerians who have the potential to become billionaires, adding that what is required is the platform for self-actualisation.

    He cited the start-up and pioneer composite e-commerce outfit, Yudala, which received little funding from investors and within one year is a leading e-commerce brand in the country with 400 graduates as employees. Ekeh said the strength of the firm was not necessarily cash backing, but the knowledge of the business backed with strong front and back-end technologies.

    Ekeh affirmed that thousands of such brilliant kids exist in the country, even as he urged the government to partner with technologically-minded companies in unearthing such raw digital diamonds in the country.

    A simple app developed by a Nigerian which achieves global acceptance could usher such an individual into the league of billionaires while putting the country on the world map.

    He said: “I had a similar experience when Zinox acquired an Ibadan-based software company Xputer. The young chaps behind Xputer were so talented and had huge capacity to develop amazing content but no individual, corporate bodies or government saw any potential in them. Some of the apps developed by these young Nigerians are being used today by e-commerce companies in Nigeria which they would have paid millions of dollars for, had it been developed by foreign companies.

    “With the digital hubs, we are going to create the enabling environment and platform for more of our youths to develop their capacities and unleash their creative abilities. This is part of our contribution towards reducing the scourge of unemployment and boosting the revenue-earning streams of the government. We are the last company in the country that will retrench quality indigenous employees.”

    Olatunji was led on the tour of the facilities by Ekeh to see the digital computer hardware manufacturing and assembly plant, telecoms e-Hub unit, Data Centre, bandwidth aggregation, digital security infrastructures and warehousing facilities as well as integrated after-sales service and support centre, among others.

    Olatunji who reiterated the commitment of the agency in partnering with Zinox Technologies in the task of empowering the youth through the provision of requisite capacity-building programmes and initiatives, expressed delight with the infrastructure and facilities on display at the Zinox headquarters. He said NITDA was keen to empower tech start-ups as a means of promoting opportunities in non-oil sectors, noting that a partnership with Zinox Technologies will go a long way in helping to achieve this aim.

  • Zinox advises Buhari on naira devaluation

    Zinox advises Buhari on naira devaluation

    Indigenous integrated Information Communication Technology (ICT) conglomerate, Zinox Group, has advised President Muhammadu Buhari  to resist the push for the naira’s devaluation.

    To its Chairman, Leo Stan Ekeh, it is too late to further tinker with the value of the naira. The prevailing fiscal and monetary framework align with developments in the global oil market, thus making devaluation uneccessary now, he said.

    Ekeh said since the beginning of the year, the country has been facing reduced government earnings from the sale of crude oil because of the dip in prices at the international market, stressing that the development had prompted the Central Bank of Nigeria (CBN) to impose strict foreign exchange (forex) rules to save its reserves while battling the pressure from various quarters to devalue the naira.

    Speaking on the sideline of a reception organised to mark his 60th birthday at Lagos Sheraton Hotel, Ikeja, Stan-Ekeh said it was too late to devalue the naira as the move will only serve to further impoverish the masses and plunge the country into hyper-inflation.

    He said: “If devaluation happened mid-last year, it would have made sense and encouraged in-flows from investors but devaluing now would compound our already difficult situation and investors will only wait in anticipation of a further devaluation. It will rubbish our currency forever and strengthen the purchasing power of our trading partners.

    “If the government devalues the naira now, what do you think would happen to the already stretched wage earners? Would their salaries be adjusted to take care of inflation as is the standard globally? As I speak right now, a lot of states cannot pay the minimum wage and still owing workers their monthly salary.”

    The Zinox chief who lamented that his firm, like many other players in the economy, affected bythe forex scarcity because it has become increasingly difficult to meet foreign business commitments, said individuals and firms in the country have since adjusted to the realities of the hard times which he said has taught people to prioritise critical needs.

    He said: “It’s too late to devalue the naira now. I can see reason why President Buhari refused to consider devaluation. It is a move that will certainly erode the buying power of the middle class and push millions of Nigeria already living below the poverty line into abject penury.

    “The country is hugely dependent on imports as it were and with the status quo ante, any attempt to devalue the currency will only usher in inflation and leave the country at the mercy of the vested interests in the global economic set-up. They have been voluble and strident in their calls for devaluation.”

    Ekeh advised Buhari to explore other options to shore up the value of the naira and make the country less dependent on imports as it used to be in the past.

    “We should rather focus our collective energies on workable ideas and a sound framework on which to base the diversification of our present mono-economy to re-ignite the country’s long forgotten status as a continental exporter.

    “Again, this is the time to refurbish our school system and save forex from fees for the millions of Nigerians who do not have option than to school abroad. This is the time to create knowledge incubators around the country.

    ‘’This does not cost much as it will empower Nigerians to create digital wealth which has near zero-incubation period. It is the time to develop industrial clusters in major productive zones to supply the needs of Nigeria and reduce importation,” he said.

    Ekeh also predicted that if oil prices rebound to at least $50 per barrel, President Buhari will be one of the best placed in the history of the country to positively impact the lives of Nigerians.

    “At $50 per barrel, the quality of life of Nigerians today may be better than when oil prices reached record highs of $115 per barrel because Nigerians now have a new mind-set to live real and well which wasn’t the case until few months ago. If the prices inches to at least $50 per barrel, I am confident that President Buhari will be in a better position from a financial stand-point to positively impact the lives of Nigerians and guarantee rapid infrastructural development,”he said.

     

  • Labour Ministry to partner Zinox on job creation

    Labour Ministry to partner Zinox on job creation

    The Federal Ministry of Labour and Employment is planning to collaborate with an indigenous Information and Communication Technology (ICT) company, Zinox Group, to create jobs for unemployed Nigerian youths.

    Zinox Group’s management team, led by its Chairman/Chief Executive Officer, Dr. Leo Stan Ekeh, broke the news in Abuja during a visit to the Minister of Labour and Employment, Dr Chris Ngige.

    The minister said unemployment was among the major challenges the Muhammadu Buhari administration was tackling.

    He restated Federal Government’s determination to resuscitate skills acquisition centres across the country to ensure that unemployed youths acquire relevant skills to make them productive.

    Ngige assured that his ministry’s doors were open for collaboration with any organisation willing to create jobs.

    The minister noted that partnering with Zinox would effectively create jobs for the nation’s teeming unemployed youths.

    Hailing the Zinox Group for its contribution to the ICT development in the country, Ngige regretted that the Labour Ministry did not have a reliable data base on the nation’s unemployment figure.

    But he assured that the ministry would soon roll out its programme on employment generation, immediately this year’s budget is passed.

    Ngige said: “By the end of the first quarter, we will hit the ground running.”

    Also, the Minister of State for Labour and Employment, James Ocholi (SAN), hailed Yudala, an arm of Zinox Group, for standing out within a short time of its existence.

    Ocholi said he was proud of the private sector’s contributions to the development of the economy.

    Ekeh said his company visited the ministers to congratulate them on their appointments as well as seek collaboration with the ministry to complement Federal Government’s efforts at job creation.

    he Federal Ministry of Labour and Employment is planning to collaborate with an indigenous Information and Communication Technology (ICT) company, Zinox Group, to create jobs for unemployed Nigerian youths.

    Zinox Group’s management team, led by its Chairman/Chief Executive Officer, Dr. Leo Stan Ekeh, broke the news in Abuja during a visit to the Minister of Labour and Employment, Dr Chris Ngige.

    The minister said unemployment was among the major challenges the Muhammadu Buhari administration was tackling.

    He restated Federal Government’s determination to resuscitate skills acquisition centres across the country to ensure that unemployed youths acquire relevant skills to make them productive.

    Ngige assured that his ministry’s doors were open for collaboration with any organisation willing to create jobs.

    The minister noted that partnering with Zinox would effectively create jobs for the nation’s teeming unemployed youths.

    Hailing the Zinox Group for its contribution to the ICT development in the country, Ngige regretted that the Labour Ministry did not have a reliable data base on the nation’s unemployment figure.

    But he assured that the ministry would soon roll out its programme on employment generation, immediately this year’s budget is passed.

    Ngige said: “By the end of the first quarter, we will hit the ground running.”

    Also, the Minister of State for Labour and Employment, James Ocholi (SAN), hailed Yudala, an arm of Zinox Group, for standing out within a short time of its existence.

    Ocholi said he was proud of the private sector’s contributions to the development of the economy.

    Ekeh said his company visited the ministers to congratulate them on their appointments as well as seek collaboration with the ministry to complement Federal Government’s efforts at job creation.

     

  • Economic distress: Zinox chief advises Buhari to meet stakeholders

    Economic distress: Zinox chief advises Buhari to meet stakeholders

    The Chairman, Zinox Tecnology Limited, Leo Stan-Ekeh, at the weekend, advised President Muhammadu Buhari to convoke a town hall meeting with all the stakeholders in the economy to chart a way out of the economic meltdown.

    Speaking with Information Communication Technology (ICT) editors at the Lagos Head Office of the firm, he lamented that companies have been sacking workers in response to the depression in the economy, adding that if the president organises a forum for all stakeholders in the economy to brainstorm, the he will use the forum to appeal to companies to stop the gale of sack going on in the country.

    He warned of grave consequences ongoing retrenchment have on the economy as its social implications will be difficult to manage.

    According to him, if the president sits with business leaders to change their ostentatious life styles in line with current economic realities, they will listen to him, stressing that the same gesture should be extended to the citizens.

    He said: “There is trouble in the global economy and Nigeria as a major player is also not exempted. The country is in very bad shape because entrepreneurs, small and medium enterprises (SMEs) owners and other players in the economy are technically out of business because they cannot access foreign exchange to do their business.”

    He said the Federal Government could raise $30billion in promissory notes from multinational companies such as Shell, Chevron and others, stressing that the firms will be ready to put the money on the table.

    According Stan-Ekeh, when the private sector puts such money on the table, they see themselves as stakeholders in the economy and would monitor how the money is spent because they are also responsible to shareholders whose interest is in returns on investment (RoI).

    He lamented that the Nigerian corporate was losing face in the international community, warning that if this continues till March, less than one per cent will still be around.

    He urged President Buhari to also tap into the limitless opportunities inherent in the information communications technology (ICT) industry, arguing that the sector has capacity to displace revenue from oil.

    He said: “I see a bigger picture, a stronger economy and a path way to economic recovery if President Buhari convokes a meeting with the CEOs and the citizens, appeals to them. “Now, if the president appeals to employers indirectly, he is appealing to shareholders because shareholders are expecting their dividend so they now know that what would have declared at huge profit to make them happy, a percentage will be directed to managing the economy.

    “If we continue to sack people, retrench people, the total challenge is more expensive. If there is no Boko Haram, the money spent on Boko Haram would have been used to train people, build infrastructure.  So the nation benefits for doing this; when the president appeals, the nation listens.”