Business
NITDA meets with stakeholders to dialogue on effective implementation of Startup Act
As part of its continued effort at revitalising the nation’s startup ecosystem towards the sustainability of a digitally transformed nation, the National Information Technology Development Agency (NITDA) has engaged relevant stakeholders within the tech ecosystem in a Digital Policy Dialogue with the intent of harnessing ideas for the effective implementation of the Nigeria Startup Act (NSA).
The Digital Policy Dialogue session, which was held last week Thursday at the Lagos Continental Hotel, Victoria Island, Lagos is aimed at creating a platform where inclusive and valuable insights are gathered from stakeholders to create a practical framework that will promote innovation, entrepreneurship and sustainable economic growth within the Nigerian Startup ecosystem.
The dialogue session which was organised by the GIZ/Digital Transformation Center Nigeria was designed to enhance policy implementation capacities in the digital innovation ecosystem, enhance stakeholder collaboration from various sectors, create an inclusive policy implementation framework as well as promote innovation and economic growth.
Speaking on the effect of NSA on Digital Transformation in Nigeria while delivering the closing remark, the Director General of NITDA, Kashifu Inuwa gave an overview of the NSA and its benefit as well as opportunities it will provide to the Nigerian youths and the nation as a whole.
The DG who was represented by his Special Adviser on Digital Transformation, Dr. Aminu Lawal, stated that the NSA was passed in October 2022 to create a more favourable environment for Startups in Nigeria.
“The Act provides for several benefits for Startups including Tax incentives, access to seed funds, grants and loans, protection of intellectual property, talent development and capacity building and, regulatory support among others,” he noted.
While lauding the enactment of the Act as a step towards the right direction for the nation’s startup ecosystem, Inuwa further stated that the Act would increase visibility for Nigerian startups which would consequently attract both foreign and domestic investment, create jobs and boost innovation.
He mentioned that the NSA would have a significant impact on People, Processes and Technology which are the three pillars of digital transformation.
Buttressing his point with more holistic insights on NSA’s impact on people, Inuwa disclosed that training and mentorship provided by the Act would enable the required skills and knowledge needed to succeed in the digital age. He added that “this will help to create a more skilled workforce in the digital sector and boost the digital economy.”
Enumerating further on the Act’s impact on Processes, he said that “the Act’s provisions for support and access to funds would help startups to develop and deliver digital services that will digitise the processes of their customers from different sectors.”
Speaking on the last pillar, Technology, the NITDA boss stated that the Act would lead to the exploration of emerging technologies in developing solutions that will attract investment in digital solutions.
He further opined that the Act would increase access to data, improve collaboration between startups and the government, and also, improve access to digital services.
While pledging to work with relevant stakeholders across all sectors of the economy to make startup support services available as well as increasing all indices necessary for the development of more market-creating innovative-driven enterprises, Inuwa urged all stakeholders to take the implementation of the NSA as a collective responsibility.
“To make the most out of the provisions of the Startup Act, we are committed to strengthening collaboration with public sector stakeholders and entrepreneurs to proactively, anticipate disruptive innovations and their implications, build capacity and a conducive environment to unlock their potential and recognise new niches for industries. This way, stakeholders will invest in our creative entrepreneurial population, while also building bridges towards achieving sustainable and inclusive growth,” he concluded.
By Opeyemi Abdulsalam
The NDIC has identified a issue with former Heritage Bank customers’ account names not matching their BVN records, leading to delays in refunding their deposits.
According to the NDIC, discrepancies in account names associated with former Heritage Bank customers’ BVN numbers are hindering the timely reimbursement of their deposits.
Recall that the NDIC has undertaken to begin payment of the 2.3 million depositors following the withdrawal of Heritage Bank’s operational licence.
The commission noted that 99% of the bank’s total customers had deposits less than N5 million.
The NDIC Managing Director, Mr. Bello Hassan, told the newsmen in Abuja on Sunday that a substantial amount has been paid to depositors without BVN-related issues.
He urged those that are not receiving their payments to visit the NDIC website to complete verification forms, including those without BVN-linked accounts.
He said, “We have already commenced the payment of customers since June 6. We have paid a substantial amount to the customers. What we leverage in making the payment is the BVN of customers. We trace alternate accounts in other banks and pay them their insured amounts.
“There are some that we have challenges linking up because of some discrepancies between the names and others. We are calling on customers who have not received their alerts in their alternate accounts to come forward and complete their verification forms so that we can pay them.”
Hassan stated that depositors with more than five million naira would receive a liquidation dividend.
He mentioned that the NDIC has begun selling the bank’s physical assets and is working to recover loans and advances previously granted by the bank.
According to him, “That is what we use in paying those liquidation dividends. We are not going to wait until we recover everything, no. As we recover, we will also advertise to say that we will pay liquidation dividends so that concerned depositors will be on the lookout for alerts in their accounts.”
By Esther Agbo
The Director of Consultancy & Executive Services at the Nigerian Building and Road Research Institute (NBRRI), Makava David, has revealed that using alternative building materials like bricks and laterite can reduce housing construction costs by 25 to 30 percent, making homeownership more attainable for Nigerians.
He announced this over the weekend in Calabar following a presentation at the Cross River State Ministry of Housing. The presentation detailed NBRRI’s partnership with the Regional Sustainable Energy Centre of Excellence for Sub-Saharan Africa to initiate a 3,000-unit low-cost housing scheme across the state’s three senatorial districts, with backing from international agencies and local banks.
Speaking to journalists after the presentation, Mr. David stated that the use of alternative building materials would make houses much more affordable for the average person.
He said, “The cost of materials now is on the high side, the technology that NBRRI is bringing is mainly the use of locally sourced material used in building houses .
“We will use clay for the blocks, fibre for the roofing sheets and this will practically bring down the cost of the building up to 25 to 30 percent compared to conventional building material.
“The aesthetics is next to none, when it’s cold outside it’s warm inside and when it is hot outside it’s cool inside, that is why we are bringing this technology to the good people of Cross River with a payment period of 30 years, so that our people can have affordable houses they can call their home.
“Our target and the mandate of the consultant is to provide 3,000 units of low cost housing units in the three Senatorial districts of the state, and it takes less time to build once the materials are in place.”
Cross Rivers Commissioner for Housing, Dr. Beatrice Igwe, expressed government support for the initiative, highlighting Governor Bassey Otu’s commitment to projects that improve living standards. She lauded the tripartite meeting as a significant step towards reducing the state’s housing challenges by providing affordable, quality housing.
She noted, “The tripartite meeting you just witnessed is the birthing of a project that can reduce the housing challenges of the people of Cross River with a view to giving them modest and affordable housing.
“Alternative building materials are the future and the way forward. The presentation we have witnessed has shown that if properly executed there will be progress as well as a boost in the availability of low cost housing in the state.
“I can assure the partners , and other stakeholders that our Governor who has always put the people first , will key into any programme that will alleviate the suffering of the people and improve their living standard.
“I believe he will surely key into any good program that will make life comfortable for the common CrossRiverian.”
Project facilitator Sir Clay Ogeh Ekpong noted the state’s housing deficit, which prompted the outreach to both foreign and local partners to initiate low-cost housing estates.
He praised Governor Bassey Otu, describing him as a people-friendly leader, for his full support and commitment to the housing scheme.
Ekpong emphasised that the project aligns with the governor’s vision of providing homes for Cross River residents, significantly reducing housing challenges. He stated that plans are underway to construct 1,000 bungalows each in Odukpani, Ikom, and Ogoja/Yala local government areas.
Additionally, the CEO of RSECESSA, Dr. Ibrahim Aminu, expressed enthusiasm and anticipation for the project’s start.
CEO of RSECESSA, Dr. Ibrahim Aminu, expressed enthusiasm for the project’s commencement, noting that it aims to deliver affordable, high-quality housing without financial strain on buyers. The broader program targets building one million houses across Nigeria and the FCT, in partnership with NBRRI.
Aminu stated, “The partners have already put plans in motion to make the project a reality, the idea of reducing the challenges of housing is one aspect and then using alternative materials to build is another major aspect with a view of giving the people quality for their money without breaking the bank.
“We want to ensure that we bring affordable housing to our people and make sure they can also pay for these houses with ease and no pressures, and after retirement they can own good houses at the end of the day.”
By Esther Agbo
Minister of Works, Sen. David Umahi, has issued a warning that the Federal Government is prepared to terminate contracts with Julius Berger, CCECC, and RCC firms involved in two major South South road projects if they fail to demonstrate commitment within one week.
Speaking in Uyo, the Minister addressed Senate President Godswill Akpabio and other stakeholders from Akwa Ibom, emphasising President Bola Tinubu’s intention to launch the Calabar-Akwa Ibom sections of the Lagos-Calabar Coastal Highway by August.
Umahi specifically identified the Eleme-Onne Section of the East-West Road in Rivers State under RCC, and the Calabar-Itu Road sections managed by Julius Berger and CCECC as projects of concern.
He criticised the contractors for prolonged delays and incomplete work, accusing some of lobbying government officials to avoid penalties from the Works Ministry.
Umahi stated, “By end of this coming week, if Julius Berger fails to re-mobilise to site and CCECC fails to re-mobilise to at least 3 Sessions, their jobs will be terminated.”
Regarding the Eleme-Onne section of the East-West Road, Umahi stated, “The worse of the roads in the entire South South is that Section on the East West Road. RCC has collected over N40 billion. 15km of Road, N156 billion inherited from the past administration.
“We’ve been on them to change their ways. And by the end of next week the 14 days notice of termination will elapse and we will terminate the contract.”
Senate President Akpabio and Akwa Ibom Governor Umo Eno urged Umahi to address other neglected federal road projects in the state and ensure contractors fulfil their obligations to benefit residents and travellers.
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