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Anambra can alter Nigeria’s destiny – Ekeh, Zinox boss

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Chairman, Zinox Group, Leo Stan Ekeh has described Anambra as a state with global capacity to influence and positively alter Nigeria’s destiny.

Ekeh affirmed that the state has all it takes to make this a reality. Further, he noted that the wealth, energy and knowledge per square meter in Anambra does not exist in any other part of Africa.

Nevertheless, the Zinox boss urged the state government to open its eyes to the immense opportunities lying within the state with which it can re-configure the narrative for good.

Ekeh made this call at the 2019 Anambra Business and Investment Roundtable on Monday, November 25th, 2019. He spoke on the topic: Doing Business in the 21st Century.

The summit, with the theme – Beyond Infrastructure: Rethinking the Future – was held at the Anambra Governor’s Lodge, Amawbia, Awka.

In attendance at the event was the Anambra State Governor, Willie Obiano; the Deputy Governor, Nkem Okeke; Speaker of the Anambra State House of Assembly, Uche Okafor; the Obi of Onitsha, Nnayelugo Alfred Nnaemeka Achebe; former Governor of the Central Bank of Nigeria (CBN), Prof. Chukwuma Soludo and other members of the Anambra state political set-up. Also in attendance were corporate egg-heads and entrepreneurs drawn from various spheres of the economy.

‘I am an Igbo man from Imo State but here I am in Anambra and delighted to be here as well. Why? Anambra state has the global capacity to alter Nigeria’s destiny. You have it all in Anambra State but you have to certify it in the 21st century for it to be rewarding. You have credible human capital, brilliant minds and the right investment climate to make it happen,’ Ekeh noted.

Nevertheless, Ekeh who was the keynote speaker at the event, sounded a note of caution.

The serial digital entrepreneur warned that the state must wake up to the fast-evolving dynamics of the technology-mediated 21st Century.

Urging the Anambra State governor, Willie Obiano to invest in education and upgrade human capital in the state, Ekeh disclosed that this is the surest route to helping Anambra achieve its considerable potential.

‘I must commend the governor for what he is doing in the state. However, the 21st Century requires us to anticipate the future. If you look at the current Zinox Future Visions emblem of a man in deep thought, you will see it speaks to our mindset as a corporate with an eye on the future. This has been my story throughout the over 30 years I have spent in business.

‘You must invest in the next generation, especially the children of the poor because these are the ones with a mindset of disruption.

‘There is analogue knowledge and there is digital knowledge. Our generation relied on 80 per cent common sense and 20 per cent knowledge. But our children have global exposure and the benefit of better education, so they mainly use 80 per cent knowledge and 20 per cent common sense.’

Continuing, Ekeh noted that: ‘The Anambra state government must launch a Knowledge or Digital city in Awka with smart facilities and certified knowledge workers to re-train teachers across platforms and equip them to prepare our children for the digital age.

“In addition, the government should consider setting up and attaching a finishing school to the knowledge capital so that candidates are prepared as global citizens.

‘There is a fundamental problem with the quality of graduates we are currently churning out. Many of them are not fit for the 21st Century work-place. You must invest in these kids to make them relevant in the global marketplace and the multiplier effect will transform the fortunes of Anambra state for good.

‘You must build and equip many young graduates with skills in emerging technologies such as Artificial Intelligence, Robotics, Machine Learning, Cloud Computing and Big Data, among others.

‘I embarked on a similar intervention in Imo State after encountering the child of a widow who aced WAEC with straight A’s but regularly fell short in JAMB. It turned out that many of these students had never seen a computer in their lives but had to use a computer in sitting for the JAMB examinations. So, I spoke with the Commissioner of Technology in Imo State and set up a digital training centre where over 5,400 students are currently being exposed to computer appreciation and other digital skills. I am also paying these students to attend the classes. A week to the exam, there will also be a refresher session to ensure they are brought up to speed ahead of the examination.’

According to Ekeh, the second quarter of the 21st Century will delete many of the known names in business if they fail to rise up to the evolving era of change.

‘Our children will achieve within a few years what many of us struggled to build in 30 years. That is the age we are in. It is an era of miracle wealth. An age in which you do not need a Godfather to succeed. An E-commerce business like Konga, for instance, which is managed by my son and his colleagues has over 187,000 merchants trading on its platform. It can reach customers nationwide and deliver to them without stress. Even on Sundays when some of you are in church, business is on-going on the platform,’ he enthused.

Urging the Anambra state government to rally well-meaning sons and daughters of the state as well as the private sector to partner with it in its mission to transform the state, Ekeh counselled that this move is paramount in view of its long-reaching implications for the state.

‘The state government will never have enough money to handle everything alone. Therefore, you must reach out to Anambra indigenes and other investors to come to the aid of the state. If you invest N5bn in a digital centre, the returns will be massive.

‘But you must set a system to ensure it is properly managed. That way, investors such as myself will be encouraged to come in and invest and then reap some profit from their investment.  However, politicians must not be allowed to hijack the system. Every beneficiary nominated must be screened and passed through the process to ensure they are selected on merit,’ he counselled.

Furthermore, Ekeh advised Anambra parents to leverage on their assets and empower their children. He disclosed that it is a reasonable risk to invest in one’s children while stating that human beings have been classified into three in this century – employers, employees and fools.

‘Don’t allow you kids to be rated as fools while you have billions siting in different asset classes,’ Ekeh warned.

Also speaking at the event, Gov. Obiano expressed delight and confidence that the summit will yield immense benefits for the state.

‘…The insights from today’s deliberations will set us firmly on the path to building a more socially prosperous state not only from the riches that lie beneath the soil, but essentially from the infinite possibilities that lie between our ears.’

The well-attended event featured panel sessions on Education and Health, ICT and the Creative Industry, Tourism and Hospitality as well as Housing and Infrastructure.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Nigeria’s Electricity Exports Hit $112m amid Persistent Power Outage

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Recent data from the International Trade Centre (ITC) has revealed that Nigeria’s electricity exports have reached a value of $112m.

Nigeria’s Electricity Exports Hit $112m amid Persistent Power Outage

According to the ITC’s website, Nigeria is currently exporting electricity to two neighbouring African nations: the Republic of Benin and Niger.

As of January 18, 2025, Nigeria’s electricity exports to Benin amounted to $66m, with a potential export value of $82m. However, there remains an unrealised export potential of $16m, according to the Punch.

Similarly, electricity exports to Niger were valued at $46m, with the potential for $51m in exports, leaving an unrealised potential of $4.1m.

“The products with greatest export potential from Nigeria to Benin are electrical energy, Urea, and Bars & rods of iron/steel,” the ITC noted.

It also highlighted that the largest absolute difference between potential and actual exports was in electrical energy, with an additional $4.1m in exports still unrealised.

The ITC further indicated that Nigeria’s exports to Niger include electrical energy, Portland cement, and soups, broths and preparations.

While the export data paints a picture of growth in the sector, concerns remain about the state of electricity supply in Nigeria.

According to the Punch, Chief Princewill Okorie, executive director, Electricity Consumer Protection Advocacy Centre, questioned the country’s priorities.

He said, “Are the electricity companies in those countries they export electricity to serve the consumers the way they serve Nigerian consumers? We cannot be celebrating electricity export when at home in Nigeria we are experiencing blackout and extortion in violation of our consumer protection laws. A good parent first takes care of his home before caring for outsiders.”

He further criticised the export of electricity, questioning whether the money generated was benefiting the Nigerian power sector.

“Is it the wellbeing of Nigerians that is more important or the money generated from export of electricity? If such money is generated, why not inject it into electricity when they are telling us they lack liquidity? What sense does it make for our local industries and economy to be dying because of electricity while export is building other countries’ economies?” Okorie asked.

He added that Nigeria’s economic struggles, including the exodus of professionals and youths, were exacerbated by power shortages, questioning the rationale behind celebrating electricity exports under these conditions.

“It is a shame. Charity begins at home. Let them also explain what the money has been used for when we keep borrowing from the World Bank,” he added.


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SERAP Petitions Trump, Urges Recovery of Stolen Nigerian Assets, Barring Corrupt Officials from US

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Socio-Economic Rights and Accountability Project (SERAP) has called on US President-elect Donald Trump to identify and recover stolen Nigerian assets hidden in the United States.

SERAP Petitions Trump, Urges Recovery of Stolen Nigerian Assets, Barring Corrupt Officials from US

Donald Trump

In a statement released on Sunday via X, SERAP urged Trump’s administration to ensure the return of these assets to the Nigerian people.

“We’ve urged US President-elect Trump and his incoming administration to identify US-based stolen assets traced to Nigerian public officials and to ensure the return of any such assets to the Nigerian people,” SERAP stated.

The organization also demanded that Nigerian public officials implicated in the theft of these assets be banned from entering the US.

Meanwhile in the letter, Trump was urged to “attach and release to Nigeria some $500 million worth of US-based proceeds of corruption traced to former Nigerian dictator General Sani Abacha.”

SERAP’s request “aligns with the UN Convention Against Corruption, which both the US and Nigeria have ratified.”

The organization emphasized that the US Department of Justice should initiate civil asset forfeiture proceedings to fulfill the US commitment to assisting Nigeria in recovering looted assets.

In the letter, SERAP explained that “these proceeds are separate from the $480 million of Abacha-origin funds that have been forfeited to the US under an August 2014 US federal district court order.”

SERAP urged Trump’s administration to initiate discussions with the Nigerian government to fulfill the objective of returning the stolen assets within an agreed framework and timeline.

The organization also stressed the importance of acknowledging the role of civil society in asset recovery matters.

SERAP noted that the UN Convention Against Corruption requires states to return “corrupt” assets to their countries of origin.

The organization noted it believes that Nigeria has met the requirements for the return of the $500 million in proceeds.

The letter was signed by Professor Alexander W. Sierck, US volunteer counsel, SERAP and Adetokunbo Mumuni, executive director and copied to Stuart Symington, US Ambassador to Nigeria.

 

 

 

 

 

 


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EXIM Bank of the United States, NEXIM Bank Sign MoU to Strengthen Economic Cooperation

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The Export-Import Bank of the United States (EXIM) has signed a memorandum of understanding (MOU) with the Nigerian Export-Import Bank (NEXIM) that will deepen collaboration and trade ties between the United States and Nigeria.

The agreement was signed by Exim President and Chair, Reta Jo Lewis, on behalf of Export Import Bank of United states, while Abba Bello, Managing Director/ Chief Executive of NEXIM signed on behalf of the Nigerian Export-Import Bank.

During the signing ceremony, EXIM President and Chair, Reta Jo Lewis, highlights increased opportunities for U.S. exports to Nigeria in critical minerals, clean energy, aviation and infrastructure.

Also, NEXIM MD/CE, Abba Bello, highlights that the partnership is a significant milestone for Nigeria and the US that will provide increased access to trade financing for Nigerian businesses whilst facilitating smoother and more robust mutually beneficial trade flows between the two countries.

The MOU demonstrates a shared desire to identify and promote trade and economic cooperation between the two countries, especially in sectors like clean energy, critical minerals, aviation, maritime transport, digital connectivity, and infrastructure, amongst others.

“Nigeria is the second largest U.S. export destination in Sub-Saharan Africa, but there is so much opportunity to grow,” said Chair Lewis.

“This MOU with NEXIM sends a strong market signal to Nigeria that EXIM is eager to forge a stronger commercial relationship by supporting U.S. exports in key sectors.”

The MD/CE NEXIM in his own remarks noted that, “This collaboration marks a significant milestone in our efforts to strengthen trade ties between Nigeria and the United States.

We are confident that this partnership will open new avenues for economic growth and development”. The MOU, signed virtually marks a significant milestone for the United States and Nigeria.

The MOU will enhance the competitiveness of companies in both nations and strengthen collaboration by exploring options for utilizing EXIM’s medium- and long-term loan guarantees and/or direct loans to finance U.S. exports to Nigeria.

This MOU contributes directly to EXIM’s Sub-Saharan Africa mandate. Over the past three years, EXIM has approved approximately $4 billion of authorizations in support of U.S. exports to sub-Saharan Africa.

The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports.

To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including credit insurance, working capital guarantees, loan guarantees, and direct loans.

As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States.


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