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General News

Fidelity Bank Strengthens Entrepreneurs’ Global Trade Skills with EMP 18 Programme

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L-R: Prof Frank Ojadi, Director, Export Management Program, Lagos Business School; Stella Nwuke, Team Member, Export & Agriculture Division, Fidelity Bank Plc; Emem Bassy, Managing Partner, Peony Dynamic Resource Limited; and Emmanuel Nwalor, Team Lead, Export & Agriculture Division, Fidelity Bank Plc; at the closing ceremony of the 18th edition of the Fidelity Bank Export Management Programme (EMP 18) held at the Lagos Business School recently.
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Fidelity Bank Plc, has once again highlighted the importance of promoting non-oil exports as it recently hosted the 18th edition of its dedicated capacity development training tagged Export Management Programme (EMP 18). The programme, which was held recently in Lagos provided a platform for entrepreneurs interested in exploring global trade opportunities to scale and acquire relevant expertise.

L-R: Prof Frank Ojadi, Director, Export Management Program, Lagos Business School; Stella Nwuke, Team Member, Export & Agriculture Division, Fidelity Bank Plc; Emem Bassy, Managing Partner, Peony Dynamic Resource Limited; and Emmanuel Nwalor, Team Lead, Export & Agriculture Division, Fidelity Bank Plc; at the closing ceremony of the 18th edition of the Fidelity Bank Export Management Programme (EMP 18) held at the Lagos Business School recently.

Hosted in partnership with the Lagos Business School (LBS), the 5-day intensive program focused on equipping entrepreneurs with the skills and knowledge needed to explore international market opportunities and strengthen their capacity to thrive in the export sector.

“At Fidelity Bank, our strategy to enhance non-oil exports is guided by the significant opportunities it offers to our customers and the national economy. This is why we offer a comprehensive suite of financial, advisory, and market-access solutions for businesses aiming to engage in international trade.

“Our market-access initiative, EMP, launched in 2016, has trained over 1,600 entrepreneurs. Today, we completed the 18th cohort with high-caliber participants and a 150% oversubscription. This indicates a promising future for Nigeria’s non-oil exports,” explained Isaiah Ndukwe, Divisional Head of Export and Agriculture at Fidelity Bank Plc.

Facilitated by key industry experts in the exports space, EMP 18 took participants through several sessions focused on critical areas in global trade such as Export Finance Instruments, Export Documentation, Accessibility of Export Markets, amongst others.

A key feature of the training was a facility tour of one of Nigeria’s busiest Export Processing Terminals (EPT) located in Ikorodu, Lagos state. The full-day visit, which was anchored by officials of the Nigerian Customs Service (NCS), gave participants a first-hand feel of the necessary procedure and requirements for securing regulatory approval for exporting from Nigeria.

One of the program participants, Patrick Ulayi Awu-Patricks, Managing Director/Chief Executive Officer, Alliance & Frontier Limited, commended Fidelity Bank for its leadership in deploying capacity-building initiatives in the non-oil exports sector. In a discussion with journalists, he stated that EMP 18 provided invaluable exposure to the opportunities in the export business noting that, “There are lots of non-oil exports opportunities and entrepreneurs must be able to identify and capitalize on these to be able to play effectively in the international trade space. This course has given me insights into the power of data which is essential for strategic decision-making.”

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Awards; the Banks and Other Financial Institutions (BAFI) Awards; Best Payment Solution Provider Nigeria 2023; and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. It was also recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.


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General News

NASRDA Commences Space Regulation Mandate with N20Bn Fund

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National Space Research and Development Agency (NASRDA) is set to commence the implementation of its space regulation and licensing mandate following the approval of a N20 billion take-off fund by President Bola Tinubu.

NASRDA Commences Space Regulation Mandate with N20Bn Fund

Speaking in an interview, Dr. Matthew Adepoju, director-general, NASRDA, emphasised that the agency’s regulatory functions, as outlined in the NASRDA Act (2010), have remained unfulfilled since its establishment in 1999.

To address this, Adepoju submitted a memorandum to President Tinubu advocating for enforcement of space regulation, leading to the recent approval of funds.

Adepoju highlighted the urgency of regulating Nigeria’s space sector to prevent misuse, particularly regarding security-sensitive activities.

The regulatory framework will oversee:

Satellite image providers

Geographic information system operators

Satellite-based telecommunications and broadcasting services

He warned that unregulated geographical data intelligence could be exploited by non-state actors, underscoring the importance of strict oversight.

NASRDA has set up a licensing platform open to public and private sector operators in the space industry.

The regulation will cover Nigeria’s three space segments:

Upstream – Deep space activities

Midstream – Satellites and orbital objects

Downstream – Ground stations and space service users

Although the agency has yet to access the N20 billion fund, Adepoju confirmed that regulatory and licensing functions have commenced.

 


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Amazon Opens Competition in Satellite Internet Business, Sends Satellites into Space

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Amazon has released more details on Project Kuiper, its plan to establish a satellite internet service resembling Starlink. The first launch of satellites for Amazon’s Kuiper project is set to ascend as soon as April 9, less than a week away.

27 satellites are planned to be deployed using an Atlas V rocket, which will blast off from Cape Canaveral Space Force Station in Florida.

This is just the earliest beginnings of the system, which Amazon says will be made up of 3200 satellites in low-Earth orbit. And that’s just for the “first-generation” system that will provide home internet to, according to Amazon, “virtually any location on the planet”.

Amazon has more than 70 additional launches for Project Kuiper planned over the next few years, including sending satellites on rival SpaceX’s rockets.

“We’ve designed some of the most advanced communications satellites ever built, and every launch is an opportunity to add more capacity and coverage to our network,” says Rajeev Badyal, Vice President of Project Kuiper.

“This will be the first time we’ve flown our final satellite design and the first time we’ve deployed so many satellites at once.”

Despite being quite early on in establishing the satellite array required for a functional satellite internet system, Amazon expects to be able to start offering the service “later this year.”

Project Kuiper vs Starlink

Rival Starlink currently has more than 7000 satellites in low-Earth orbit, and future plans include expanding that array to a count of 34,400.

Starlink has also become the leading provider of space junk, with the company’s satellites falling out of orbit “almost every day” according to Space.com.

Satellite internet services like those of Starlink and Project Kuiper require a satellite receiver, which currently starts at £300 for Starlink models.

Starlink charges £75 a month for home internet, which can provide up to 220Mbps typical internet speeds, according to the company’s website.

Satellite internet can often be a workable solution for homes not covered by optical fibre or 4G/5G mobile internet.

The company has also supplied Ukraine with internet connectivity since Russia invaded Ukraine in 2022.

“My Starlink system is the backbone of the Ukrainian army. Their entire front line would collapse if I turned it off,” SpaceX CEO Elon Musk claimed on X. He has since claimed he does not plan to deactivate Ukraine’s access to the service.


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Nigerian Military Makes History with Africa’s First Attack Drones, Bombs

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Nigerian Military, in partnership with Briech UAS, a communications company, has unveiled the first and largest indigenous attack drones and bombs in Nigeria and Africa.

Nigerian Military Makes History with Africa’s First Attack Drones, Bombs

Briech UAS, alongside the Nigerian Army, demonstrated these attack drones and bombs at the company’s headquarters in Abuja on Wednesday.

General Christopher Musa, chief of Defence Staff (CDS), hailed the initiative as a significant milestone in Nigeria’s progress toward self-reliance in defence technology and a crucial step in enhancing national security.

Musa highlighted the importance of developing combat drones, particularly for intelligence gathering. He pointed out that these drones would play a pivotal role in addressing complex and asymmetric security threats.

“These force multipliers will greatly enhance the operational effectiveness of our military, especially in a world where global politics complicate the procurement of advanced military hardware,” he stated.

“Countries that do not produce these solutions face bureaucratic and diplomatic challenges when acquiring essential platforms. We are directly addressing this challenge.

“If we do not produce what we need, we will be at the mercy of others, even if we have the financial resources to acquire them.

“By manufacturing these drones locally, Nigeria reduces dependence on foreign resources, ensures faster acquisition, and strengthens its ability to respond to security threats swiftly.

“With the brilliant minds we have, particularly among our youth, we can create outstanding technology that competes on a global scale,” Musa said.

Plateau Governor Caleb Mutfwang underlined the importance of supporting indigenous products for Nigeria’s growth.

He stressed that the drones would be vital in safeguarding the country’s sovereignty, particularly in Plateau State, where some of these technologies have already been deployed to enhance the efficiency of ground forces.

Mutfwang also revealed that his state was collaborating with local bomb and drone manufacturers like Briech UAS to counter insurgency with domestically produced weapons.

“As a nation, we made a mistake by allowing non-state actors to acquire capabilities nearly on par with state actors,” he stated.

“We’ve entered into a partnership that has led to the deployment of these facilities in our state. We’ve seen substantial improvements in the effectiveness of our security forces.

“It was a mistake to let non-state actors gather capabilities that could almost overpower legitimate state forces. We must correct that imbalance.

“We must ensure no one within our borders has capabilities that surpass or match those responsible for protecting our national sovereignty,” he added.

Earlier, Dr Bright Echefu, chairman of Briech UAS, noted that insurgent groups like Boko Haram and ISWAP have been using commercial drones for reconnaissance and attacks.

“These drones have been used to track and attack our troops, coordinating ambushes and executing crude aerial strikes,” he said.


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