News
Okere Charges Entrepreneurs on 3 Powers for Success in Business
Austin Okere, founder and Chief Executive Officer, Computer Warehouse Group Plc, has charged Small and Medium business owners to ensure that their business visions are driven by the “3 Powers of success”. This, he said, includes the Way power, the Will power and the Wait Power.
He made this known in a panel discussion, with the theme “Leveraging Technology for SME Growth”, at the maiden edition of the Annual Fidelity SMEs conference that was held in Lagos.
The panel featured outstanding entrepreneurs in the ICT sector of the country, including Chief Leo Stan Ekeh, founder of Zinox Technologies; Mr. Nicolas Martin, CEO and co- founder of Jumia ; Mr. Charles Anudu, CEO, SWIFT Networks; Mr. Bankole Cardoso, Founder Easy Taxi; Mr. Opeyemi Awoyemi, Co-Founder Jobberman and Mrs. Funke Opeke, CEO of Main One.
According to Okere, “The three powers are secrets that will keep every entrepreneur going”. He explained further that “Will power is the competence you possess to run your business. The knowledge of how to run the enterprise you want to venture into”.
“Many people will start a business, create solutions then go about looking for the problems. And when people don’t buy it, they become disappointed. You first ought to be finding out peoples’ problems and pain points then create solutions that ameliorate the pain. This is the best way to ensure patronage.” He added.
The will power, according to Mr. Okere is “the resolve to keep going when everyone say give up”.
“Sometimes people close to you will advise you to dump your venture and seek a proper job. But, what should keep you going at such times is your passion. It is the passion of a footballer that makes him complain when he is benched, despite the fact that he will still receive his pay at the end of the day. Your will power makes you go the extra mile, while your passion makes you persist in your venture while waiting for pay day.” He explained.
“Most businesses fail because the proprietors abandon them as soon as they face challenges, because it is not yielding as much as they want. After you have put so much effort into your business, you need to patiently wait for the benefits that will accrue from it. This is the essence of the third power; the wait power, which takes you eventually to light at the end of a dark tunnel.” He concluded.
Speaking on how SMEs can leverage on technology to maximize results, Okere encouraged merchants to explore the opportunities that the CWG 2.0 platform affords.
According to him, “SMERP and Openshopen platforms are designed to meet the peculiar needs of SMEs in Nigeria. Openshopen will give you the visibility your business requires to thrive in this age where businesses are going online, while SMERP will take care of your accounting and generate the records banks like Fidelity will require from you to access loans”.
“Beyond that, they are reliable and affordable, and are available on a subscription basis.” He noted.
According to Okere, the essence of developing the CWG2.0 platform is to democratize the technology that companies such as Jumia and Konga have erstwhile used exclusively to great advantage, and make them available to the over 17.7m MSMEs in Nigeria.
“Seeing the value that this platform shall bring to the SME’s in the country, SMEDAN recently signed an MOU with CWG Plc culminating in a partnership that will address the technology needs of the sector.” Austin concluded.
Nnamdi Okonkwo, managing director, Fidelity Bank Plc, in his opening speech maintained that the bank’s commitment to building Nigerian entrepreneurs is one of its core business focuses.
“We have gathered here today to deliberate on the challenges faced by SMEs in Nigeria and proffer solutions that would guide entrepreneurs to build sustainable businesses.” He explained.
“Our goal is to produce more successful businessmen like Alhaji Aliko Dangote from our entrepreneurs that are in SME category for now. We have watched Dangote transform from a merchant who went into manufacturing and later transformed into an owner of a multinational conglomerate.” He added.
At the end of the conference, Mr. Okere was given a Distinguished Partner Award for his role in the building of Nigerian entrepreneurs by Fidelity Bank plc. In a commemorative statement, the bank appreciated Mr. Okere for sharing his ideas on the panel. “We have continued to receive excellent feedbacks from the audience who are inspired by the insights and knowledge you shared.” It explained.
Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
PalmPay, Nigeria’s leading fintech company, has partnered with Globacom to launch the second edition of the “Recharge and Win Bonanza” campaign. The promotion, which runs from June 19th to August 8th, 2025, offers Nigerians the chance to win amazing prizes when they purchase Glo airtime and data via the PalmPay app.
According to a joint statement by PalmPay and Globacom, “A weekly live raffle draw will be held and streamed on PalmPay’s official social media channels throughout the campaign. Customers who make Glo transactions through the PalmPay app will be eligible to win prizes, including the iPhone 15 Pro, Infinix Hot 40, and other exciting items”.
To participate, interested customers can log onto http://bit.ly/PalmPaySms .
The statement added that all transaction above N500 gives participants an extra shot at winning, adding that daily social media challenges will also offer participants a chance to win cash prizes.
Additionally, PalmPay users can enjoy up to 6% cashback when they buy Glo airtime and data through the PalmPay app. As an added bonus, customers who have not subscribed to a Glo data plan in the last 90 days will receive a 100% bonus on their recharge during the campaign period.
Wayne Ruppel, Head of Billers at PalmPay Limited expressed excitement about the partnership, stating that, “This collaboration is a major step in our mission to deliver MORE – more support, more rewards, and more innovation to our customers.
Partnering with Glo, a leader in the telecommunications sector, is a testament to our shared commitment to improving everyday experiences for all Nigerians. We are excited to reward our users and encourage everyone to take full advantage of this exciting opportunity.
Globacom also expressed delight at creating additional value for its subscribers through unique customer-appreciation schemes.
“Our partnership with PalmPay on the “Recharge and Win Bonanza perfectly underscores our commitment to delivering exceptional value and experiences. Over the years, we have always sought innovative ways to enrich the lives of our customers. We, therefore, enjoin our subscribers to utilize the opportunity provided by the bonanza and enjoy the many benefits it offers”, the company stated.
PalmPay and Glo will collaborate throughout the campaign period to deliver exceptional customer experience, reward loyalty, and reinforce their shared mission to make digital transactions more accessible, rewarding, and secure for millions of Nigerians.
News
UK Reaffirms 99% Duty-Free Access for Nigerian Exports Under Developing Countries Trading Scheme
United Kingdom has reiterated its long-term commitment to strengthening economic ties with Nigeria, confirming that 99% of Nigerian goods will continue to enjoy duty-free access to the UK market under the Developing Countries Trading Scheme (DCTS).
Dr. Richard Montgomery, British High Commissioner to Nigeria
The announcement reinforces the UK’s intention to bolster sustainable trade with Nigeria, boost export competitiveness, and promote inclusive economic growth across both nations. Introduced in June 2023, the DCTS is designed to reduce tariffs and simplify export rules for developing economies. It currently benefits 37 African countries, with Nigeria being a key player.
Nigerian exporters are set to gain substantial advantages from the scheme, which allows over 3,000 products—ranging from cocoa, plantain, and shrimp to processed items like cocoa paste, palm oil, and cotton garments—to enter the UK duty-free or with reduced tariffs. This shift supports value addition in Nigeria’s export ecosystem, encouraging the move from raw to processed exports.
British High Commissioner to Nigeria, Dr. Richard Montgomery, said: > “Nigeria stands at the heart of the UK’s global trade ambitions. This isn’t just about improved market access—it’s about building a fairer, freer global trading system that supports economic growth and job creation, both in developing countries and in the UK.”
He further noted that through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), the UK continues to work closely with the Federal Ministry of Industry, Trade and Investment (FMITI) to tackle export challenges and maximise opportunities under the scheme.
The DCTS aligns with broader UK efforts to expand trade relations across the globe, complementing recent agreements with nations such as India and the United States.
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