LASG Reaches Out to Stanford Business School to Transform Yaba into Tech Hub

In a bid to optimise the budding technological potential of the Yaba axis, the Lagos state government has reached out to Stanford University’s Graduate Business School and a select group of 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.

The stakeholders, drawn from both public and private sectors, included Mrs. Omobola Johnson, a former Minister of Information and Communication Technology, and Nigeria’s leading technology players such as Systemspecs, SB Tel & Devices, ccHub, iDeaHub, Microsoft, as well as the visiting faculty of Stanford University’s Graduate Business School led by Professor Jesper Sørensen and Mr. Jeffrey Prickett.

Speaking at the meeting held at the state secretariat, Mr. AbdulAhmed Mustapha, Permanent Secretary, Lagos State Ministry of Wealth Creation and Employment, expressed delight with Stanford Graduate Business School and the Stanford Seed Transformation Network (STN), the alumni body of its African entrepreneurs training, for their readiness to support the state’s efforts to actualise its objective of establishing a hub for tech entrepreneurs.

Mustapha, who acknowledged the immense contributions of the Stanford Seed Transformation Program to entrepreneurial development on the African continent, said the state government is confident that the business school and its alumni network will unleash the enormous potential for technological innovations in the state and the country at large.

Also speaking, Afolabi Abiodun, vice president of STN, said the network will support the state government’s commitment to creating entrepreneurial opportunities and economic prosperity for Nigerians.

He added that the objective of the initiative is in alignment with the ideals of the Stanford Seed programme, which is to positively influence the entrepreneurial ecosystem for the purpose of ending the cycle of poverty in developing economies.

“The way to eradicate poverty is by having more successful businesses and innovative start-ups. We sincerely believe that the state government is fully committed to the realization of this initiative and the STN would support as much as we can. Interestingly, we have a bunch of tech companies in our network. So, we are ready for action as soon as the state government sets the wheels in motion.” Afolabi said.

The highlight of the meeting was the inauguration of a steering committee drawn from both the public and private sectors of the economy– primarily state government officials and members of the Stanford Transformation Network.

Also present at the meeting were officials from the coordinating Ministry of Wealth Creation and Employment, Lagos state Ministry of Energy, Office of Overseas Affairs and Investment, Lagos state, Lagos state Employment Trust Fund, Ibile Holdings, Vice Chancellor of Lagos State University, Prof. Olanrewaju Adigun Fagbohun and officials of the Stanford Graduate Business School.