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Experts set to X-ray potential of Nigeria’s industrial hub as Nnewi Investment Summit holds February 6

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As part of efforts to draw attention to the economic opportunities in some of Nigeria’s industrial clusters and grow the Made in Nigeria mindset, Ford Foundation and a group of experts and industrialists have come together to organize and sponsor an investment summit for Nnewi the manufacturing hub located at south-eastern part of Nigeria.

Pioneered by leading marketing communications agencies, TBWA\Concept Unit and C & F Porter Novelli, the Investment Summit, themed; Revitalizing the Manufacturing Hub of Africa, is designed to leverage the already thriving industrial and commercial activities in Nnewi and harness them for the wider economic development of Nigeria.

Expected to lead the conversations at the inaugural edition of the summit, which will hold on February 6 and 7 2020 in Nnewi, Anambra State, Nigeria include: former Presidential candidate and Development Economist, Prof. Kingsley Moghalu; Ike Chioke, CEO Afrinvest Ltd and Mr. Innocent Chukwuma, West Africa Regional Director, Ford Foundation.

Speaking on the Summit, Mr. Kelechi Nwosu, ceo, TBWA\Concept Unit, said the Nnewi Industrial hub should further developed and should be promoted as a model for economic growth in Anambra state and Nigeria in general.

Nwosu noted that Nnewi is a unique town where young entrepreneurs and courageous artisans with limited formal education exploit their wit to create amazing stories of manufacturing and industrialization in Nigeria.

“The overall agenda of the summit is to draw the attention of stakeholders to the benefits of revitalisation and rebranding of Nnewi as an industrial hub in Africa by leveraging on its past glory and current potential.

“We are also expecting this Summit to start the formation of alliance development that will create a blended intervention programme involving Policy makers, Private investors and Donor Organization (Philanthropists)” the marketing communications guru stated.

Sponsored by the Ford Foundation in partnership with the Nnewi Chamber of Commerce and Industries and Anambra Broadcasting Service, the two-day Summit is envisioned to drive the growth agenda for young indigenous businesses by outlining how they can scale with the right exposure, branding and capacity building projects.

Also speaking on the Summit, Chief Nn’Emeka Maduegbuna, chairman C & F Porter Novelli, said the event will be important in fostering collaboration among businesses to increase comparative advantage within Nnewi and environ.

While raising expectations that the Summit will attract foreign and local investors that would create jobs and have an impact on businesses in Nnewi and Nigeria at large, Maduegbuna said it will also seek to sensitize and create awareness for a new way of thinking that will create opportunities for young men and women within and outside the region while also generating better quality and quantity employment opportunities for young men and women via entrepreneurial activity and direct employment.


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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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TCN Reveals N8.8 Billion Expenditure on Restoring Destroyed Transmission Towers

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Federal Government has revealed that N8.8 billion has been spent to repair and restore power transmission towers across Nigeria that were destroyed by vandals and bandits.

The announcement was made on Wednesday by the Managing Director of the Transmission Company of Nigeria (TCN), Engr. Suleiman Ahmed Abdulaziz, during the Quarterly Power Sector Working Group meeting in Abuja.

Engr. Abdulaziz, represented by the Executive Director of Transmission Service Provider (TSO), Engr. Olugbenga Emmanuel Ajiboye, disclosed that 128 transmission towers have been destroyed since January 13, 2024. He lamented the recurrence of vandalism despite the arrests of perpetrators, citing ineffective prosecution as a significant challenge.

“Till date, we have spent about N8.8 billion, by our estimation, to put them back to full and functional use,” Abdulaziz said. “It is so sad that each time the vandals were caught and taken to police for prosecution, police would incident them for theft instead of vandalism, and they will be bailed. If they are charged for vandalism, they cannot be bailed, but this is where we are.”

Highlighting the severity of the situation, Abdulaziz noted the challenges faced during the restoration of the Shiroro-Mando-Kaduna transmission towers. “We had to get full military escorts for our contractors to restore the transmission lines and towers.

“In some cases, they would only allow us to work for two hours a day, and at times, they declared the area unsafe for operations.

“How can we deliver electricity to Nigerians under these terrible circumstances?”

The Minister of Power, Chief Adebayo Adelabu, represented by his Chief Technical Adviser, Mr. Adedayo Olowoniyi, outlined the government’s plans to collaborate with international partners to improve electricity access.

He revealed ongoing efforts with the World Bank and the African Development Bank (AfDB) to provide electricity to 50 million Nigerians by 2030 as part of the larger “Mission 300” initiative, which aims to bring electricity to 300 million Africans.

“Nigeria has a large population that is without electricity, and this is a great opportunity for us to be part of this process,” Adelabu said.

He added that the government’s strategy involves public and private sector partnerships focusing on solar systems, mini and micro grids, and grid extensions.

The Minister also announced that President Bola Ahmed Tinubu is set to sign the Compact document for the Mission 300 project in Tanzania in January 2025. “The most important thing is that we have to drive the process by ourselves,” he emphasized.

The Nigerian power sector continues to grapple with numerous challenges, including vandalism, banditry, and insufficient infrastructure. The Federal Government has also faced criticism for inadequate security measures around critical power assets.


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Asein, DG NCC Seeks IP Policy for Every University

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Dr. John O. Asein, the Director-General, Nigerian Copyright Commission (NCC) has again stressed the need for every University to have an Intellectual Property (IP) Policy so as to maximize their innovative and creative potentials.

Dr. Asein made this point while formally presenting the revised Model Intellectual Property (IP) Policy to the General Assembly of the Committee of Vice Chancellors of Nigerian Universities (CVCNU) in Abuja on 30th October 2024.

According to him, the Model Policy, which was developed by the Commission in collaboration with the CVCNU in 2021 was reissued as part of the Commission’s renewed effort to promote its adoption and implementation.

The Director-General thanked the immediate past Secretary General of CVCNU Prof. Yakubu Ochefu for supporting the initiative and working with the Commission to promote the sustainable use and effective management of IP in Nigerian universities.

Dr. Asein also called on tertiary institutions, as centres of learning and research, to introduce their faculties and students to the subject of intellectual property in line with global trends and to make Nigerian universities globally competitive.

To this end he assured Vice-Chancellors of the Commission’s readiness to help in the development and implementation of their policy.

“The Commission will work with other agencies, including the World Intellectual Property Organization (WIPO) to begin the intellectual property ranking of universities and celebrate those that excel in the respect, generation, use and commercilaisation of IP”, the Director-General assured.

Speaking on the WIPO Distance Learning (DL) courses on IP, the Director-General urged universities to infuse the WIPO DL 101 course, which is available online for free, into the General Studies course to give students basic knowledge of IP and equip them in their respective courses of study.

Receiving the copies on behalf of Nigerian Vice-Chcnellors, the Chairman CVCNU, Prof. Lilian Salami (Vice-Chancellor, University of Benin) commended the collaborative efforts of the Commission and AVCNU in developing the Model IP Policy and assured the Director-General of CVCNU’s continued commitment to working with the Commission, particularly in promoting better IP culture in universities.

The Model IP Policy was developed with the help of a team of Nigerian experts and with the support of the Nigerian University Commission (NUC), the World Intellectual Property Organization (WIPO) and the National Office of Technology Acquisition and Promotion (NOTAP).


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Court Orders Arrest of Echefu, Businessman over Alleged $651,280 Fraud

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A Chief Magistrate Court sitting in Bwari area council, Abuja has ordered the arrest of Dr Bright Echefu, chief executive of Briech Intelligence Fusion Limited, a security company, over an allegation of $651, 280 fraud.

Court Orders Arrest of Echefu, Businessman over Alleged $651,280 Fraud

Echefu is said to have allegedly defrauded BCG NEEDS Company of the said amount under the pretence of supplying drones and accessories.

The court ordered Disu Olatunji, commissioner of Police, federal capital territory (FCT) to arrest Echefu and his company.

Echefu is also the managing director and chief executive officer of Telecom Satellite Television, according to Leadership Newspaper.

The Economic and Financial Crimes Commission (EFCC) had earlier arraigned the businessman at the federal high court over allegations of tax evasion, money laundering, and advanced fee fraud.

Okechikwu John Akweke, presiding judge, ordered Echefu’s arrest after the motion was moved by John Paul Eze Esq. of O. J. Law Consult.

Akweke said the order is to compel Echefu and his company appearances before the court in line with Section 113 of the Administration of Criminal Justice Act 2015.


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