Economy
Get Equity, Pocket Food, Six Others Win Lagos Gitex Pitch Competition
By Adedapo Adesanya
Eight Nigerian startups have emerged winners of the Gitex Pitch Competition, Lagos Roadshow edition, held at the Eko Innovation Centre, Ikoyi last Friday.
The winners at the Lagos Roadshow Event were Pocket Food, Fuspay Technologies, Byte, Africa Comicade, Get Equity, Alajo, Instant Rad, and Dataleum.
The Lagos State Government, in partnership with Eko Innovation Centre, would be sponsoring these startups on an all-expense paid session to Morocco and Dubai for the Gitex Supernova Pitch Competition, where the entrepreneurs will pitch their ideas and compete on a global scale before fund managers and investors.
Speaking at the event, Mr Olatunbosun Alake, Special Adviser on Innovation and Technology to the Lagos State Governor, reaffirmed the state’s commitment to partnering with the Dubai World Trade Center, organizers of Gitex Global, to provide the platform for young companies or small businesses to become global companies and operate on a global scale.
“It is an opportunity for Lagos startups to showcase their ingenuity across a global audience, as it helps to validate their products and services, puts them in front of other competitors as well as exposure for investment opportunities to Nigeria,” he said.
He further added that the entrepreneurs provide economic value through the Gitex platform as it puts them in front of investors sponsored by the Lagos State Government.
On his part, Mr Victor Afolabi, Founder of Eko Innovation Centre, stated that the initiative presents a platform to deepen the entrepreneurial ecosystem as well as reduce unemployment in Lagos state and Nigeria.
“With Gitex, we expect the entrepreneurs to get partnerships and collaborations to commercialize their businesses, and grow their market share in order to help assuage the economic challenges and eradicate the high rate of poverty prevalent in the country,” he said.
Mr Afolabi further commended the Lagos State Government for being futuristic and friendly in its approach to expanding the frontiers of entrepreneurship by driving the innovation ecosystem in Nigeria.
One of the winners, Mr Oscar Michael, Founder of Africa Comicade, a platform for African digital creatives in gaming, animation, comics, and XR, connecting them to opportunities for learning, jobs, collaboration and funding” stated that the win for him is transformational, as it gives him the opportunity and platform to showcase Nigeria as the gaming hub in Africa.
“This is a good validation, and I look forward to making Nigeria the hub for gaming in Africa”, he said.
The Lagos Roadshow Event recorded over 130 entries for the pitch competition. The best 30 were shortlisted to pitch, and eight startups eventually emerged as winners.
Gitex is an acronym for Gulf Information Technology Exhibition. It is an annual global tech show at the Dubai World Trade Centre in the United Arab Emirates. It is the largest gathering of entrepreneurs all over the world, a global platform with the best collaborators, mentors and innovators, giving opportunities for visibility and funding.
The 42nd edition in October 2022 hosted more than 5,000 companies and over 170,000 attendees from 176 countries.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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