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AfriTECH 2.0: Agada Lists Factors That Could Kill Startups

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James Agada, Immediate Past CEO, CWG and the Founder, Ixzdore Laboratories Limited delivering keynote address at AfriTECH 2.0
James Agada, Immediate Past CEO, CWG and the Founder, Ixzdore Laboratories Limited delivering keynote address at AfriTECH 2.0
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Immediate past Chief Executive Officer, CWG PLC, and Founder, Ixzdorelabs, an innovation hub and consultancy focused company, Mr. James Agada, has listed some factors that could lead to the premature death of a Startup.

James Agada, Immediate Past CEO, CWG and the Founder, Ixzdore Laboratories Limited delivering keynote address at AfriTECH 2.0

James Agada, Immediate Past CEO, CWG and the Founder, Ixzdore Laboratories Limited delivering keynote address at AfriTECH 2.0

Agada, who spoke to the theme: Sustainability and the company of the future, at Africa Tech Alliance Forum (AfriTECH 2.0) held in Lagos on Wednesday, listed the factors to include non-reporting of sales figures, issues around corporate governance, Court or Government interference, and inability to create new business.

A well-regarded, innovative, and versatile technology expert, Agada, while aligning with the views of economists said in his keynote address at the event that the only way to determine whether a company is alive or dead is to check whether they are reporting their sales figures.

“When a company stops reporting its sales figures, it means the company is dead. For a startup, three things are obvious: Sales, Cash and Profit. At maturity, the company’s sales, or what they call cash cow, typically flatten out. Before then, you see a steep growth in sales or what you call exponential growth.

“That sale has to translate into profit, and profit must have cash. The only thing that can kill a company is when it runs out of cash. Another thing though is that sales do not necessarily translate to cash; if you sell, you must also collect the money and make a profit. At any point the company starts declining because it’s not able to generate enough cash from the declining sales to maintain itself, death beckons,” he said.

He said that at any point a company decides to do a life extension, that’s what is at the core for the sustainability of the company, noting that between the sales a company generates and the cash it gets, it is the funding that determines where the company is going.

“At maturity, you have a lot of debt funding because you are generating enough cash and trying to minimize business risk. Kodak had misjudged where the technology it developed was leading to, leading to its decline. Customers left Blackberry and went for iPhone and Android, and that left Blackberry behind if not dead.

“Therefore, the issue of corporate governance is another thing that can kill a company. The court or government can also decide to close your company. And the inability to create new business even when you are struggling with that company can as well lead to the death of a company,” he further explained.

Agada stated that a sustainable company is one that has figured out how to balance its business risk and sales to ensure that decline does not put it in a situation where it is no longer sustainable, contending that once a company is not growing, it is dying.

In providing a solution to this, Agada opined that “the real thing is that you are looking for increased profit and increased cash flow. You have to look at what is happening around you and take those defensive and offensive actions to prevent collapse and eventual death.


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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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NANS Issues Fresh Protest Notice over Telecom Tariff Hike

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National Association of Nigerian Students (NANS) has condemned the recent increase in tariffs by telecommunications companies in Nigeria, threatening to embark on a nationwide protest to compel a reversal.

NANS Issues Fresh Protest Notice over Telecom Tariff Hike

In a statement jointly signed on Thursday in Abuja by Comrade Anzaku Shedrack Ovye, national secretary-general, NANS and Comrade Samson Ajasa Adeyemi, the student body gave the Federal Government and telecommunications companies a 72-hour ultimatum to reverse the tariff increase.

The students warned that upon the expiration of the ultimatum, students across the country would be mobilized for a series of street protests nationwide to ensure a reversal.

They argued that the arbitrary action of telecommunications companies has further exacerbated the financial burden on millions of Nigerians, particularly students and youths, who are among the dominant end-users of their services.

The statement read in part:

“This decision, which has led to a significant rise in the cost of calls, data, and other communication services, is both unjustifiable and insensitive, given the prevailing economic challenges faced by the populace.

“NANS views this development as a blatant disregard for the welfare of Nigerian citizens and an affront to the principles of affordability and accessibility that should govern the telecommunications sector.

“This administration is committed to promoting the welfare of Nigerian students; hence, it will vehemently oppose any tendency that does not align with this vision.

“NANS is deeply concerned about the adverse impact this tariff hike will have on students, many of whom rely heavily on affordable telecommunications services for academic research, virtual learning, and staying connected with their families.

“Therefore, it is worrisome to comprehend the justifications for these increments, as NANS considers this action a direct threat to the security of Nigerian students and an attempt to further impede their ability to navigate their academic endeavors, maintain familial connections, and secure legitimate personal incomes, particularly for independent students responsible for their upkeep.

“We hereby issue a 72-hour ultimatum to telecommunications companies, the Honourable Minister for Innovation, Digital and Blue Economy, Dr. Bosun Tijani, and the Nigerian Communications Commission to reverse this tariff increase and provide a clear roadmap for ensuring affordable telecommunications services for all Nigerians.

“Failure to comply with this ultimatum will leave NANS with no choice but to mobilize students across the nation for a series of peaceful protests to demand justice, accountability, and a comprehensive audit of activities in the telecommunications sector,” NANS stated.

The leadership of NANS maintained that as student representatives, they would not stand idly by while the rights and welfare of Nigerian students, which they have vowed to protect, are trampled upon by greed, “corporate capitalism,” and regulatory complicity.

NANS also called on the Federal Government to intervene promptly and decisively to address this issue.

Additionally, they urged telecommunications companies to prioritize the interests of their customers over profit margins and to engage in meaningful dialogue with stakeholders to find sustainable solutions rather than inflict further hardship on Nigerians who are already struggling economically.

“As the voice of Nigerian students, NANS remains committed to advocating for policies and actions that promote equity, fairness, and the overall well-being of all Nigerians.

“We will continue to hold all parties and duty-bearers accountable to ensure that the rights of students and citizens are protected,” the statement added.


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FG Launches Key Initiatives to Bridge Nigeria’s Digital Divide by 2030

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Federal Government has restated its dedication to closing Nigeria’s digital divide, with a focus on delivering connectivity to underserved and unserved communities.

Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, disclosed this on Thursday during a stakeholders’ engagement session held at the Marriott Hotel, Ikeja, Lagos.

Tijani noted that while significant progress has been made in expanding broadband penetration and strengthening digital infrastructure, millions of Nigerians remain without access to reliable digital opportunities.

He announced several flagship initiatives under the Federal Government’s efforts to bridge the divide. These include Project BRIDGE, a 90,000km fibre optic expansion; Project 774, aimed at connecting every local government secretariat with high-speed internet; and the Universal Access Project, targeted at connecting over 20 million unconnected Nigerians.

Other initiatives, such as the National Broadband Alliance of Nigeria (NBAN) and the 3 Million Technical Talent Programme, were also highlighted.

“The Universal Service Provision Fund (USPF) remains a critical tool in delivering this goal, as it supports infrastructure expansion and inclusive policies,” Tijani said.

He stressed the need for strong public-private partnerships and collaboration with development agencies and local communities to achieve sustainable progress.

Dr. Aminu Maida, Executive Vice-Chairman of the Nigerian Communications Commission (NCC), emphasized the importance of unified efforts to build resilient telecommunication infrastructure.

He revealed that projects funded by the USPF had played a significant role in connecting remote communities.

“We urge stakeholders to strengthen partnerships and explore innovative financing models that will ensure sustainable connectivity,” Maida said.

The engagement session also provided a platform for deliberations on practical strategies for addressing barriers, such as inadequate infrastructure and limited digital literacy, which hinder the achievement of universal connectivity in Nigeria.

The Federal Government reiterated its vision of achieving universal access to communications and digital literacy for all Nigerians by 2030.


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MTN Nigeria, Lagos State Unveil MyLagosApp to Transform Urban Living

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L-R: Chief Digital Officer, MTN Nigeria, A’isha Mumuni; Legendary Nollywood Actress, Joke Silva; Chief Executive Officer, MTN Nigeria, Dr. Karl Toriola; Deputy Governor of Lagos State, Obafemi Hamzat and Chief Information Officer, MTN Nigeria, Shoyinka Shodunke at the launch of MyLagosApp, a one-stop digital hub designed to simplify urban living, held on Thursday, March 13 at MTN Rooftop Plaza, Falomo, Lagos.
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MTN Nigeria, in collaboration with the Lagos State Government, on Thursday launched ‘MyLagosApp,’ a digital platform designed to enhance urban living in Lagos.

L-R: Chief Digital Officer, MTN Nigeria, A’isha Mumuni; Legendary Nollywood Actress, Joke Silva; Chief Executive Officer, MTN Nigeria, Dr. Karl Toriola; Deputy Governor of Lagos State, Obafemi Hamzat and Chief Information Officer, MTN Nigeria, Shoyinka Shodunke at the launch of MyLagosApp, a one-stop digital hub designed to simplify urban living, held on Thursday, March 13 at MTN Rooftop Plaza, Falomo, Lagos.

The application, which serves as a one-stop hub for events, entertainment, transport services, hospitality, and government-related payments, aims to simplify access to essential services for residents and visitors.

At the launch event held in Lagos, the Executive Governor, Mr. Babajide Sanwo-Olu, represented by Deputy Governor Dr. Obafemi Hamzat, lauded the partnership as a milestone in leveraging technology to improve lives.

“This collaboration reflects our administration’s commitment to bridging the gap between public and private sectors, using innovation to provide practical solutions for the people,” Hamzat said.

He described the app as a vital tool for fostering transparency, accountability, and seamless access to public services, noting that it aligns with the state’s smart city initiatives.

MTN Nigeria’s CEO, Dr. Karl Toriola, expressed the company’s pride in partnering with the Lagos State Government to achieve this milestone.

“MyLagosApp is a major stride in digital transformation, marking a significant step in making Lagos a truly smart city. It simplifies connectivity, access to services, and promotes an efficient urban ecosystem,” Toriola said.

The app, developed by MTN’s Software Lab, adheres to global security standards and ISO 27001 certification, according to MTN’s Chief Information Officer, Shoyinka Shodunke.

Stakeholders at the event emphasized the role of the app in advancing mobility, supporting local businesses, and enhancing government-citizen interactions.

The application is now available for download on Android and iOS platforms.


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