General
Kagame, Sall to Address Over 5,000 Entrepreneurs at TEF Entrepreneurship Forum
By Modupe Gbadeyanka
Two leading African Presidents, Mr Paul Kagame of Rwanda and Mr Macky Sall will deliver speak with over 5,000 entrepreneurs from the continent at the Tony Elumelu Foundation Entrepreneurship Programme slated for July 26 and 27, 2019 in Abuja
The event is the brainchild of the Tony Elumelu Foundation (TEF), Africa’s foremost champion of entrepreneurship. This year’s edition is the 5th and will take place at the iconic Transcorp Hilton Hotel, Abuja.
The forum provides a unique opportunity for young women and men, from all 54 African countries, to meet, learn and network with the broader African and global entrepreneurship ecosystem. It is also a critical opportunity for political leaders and policy makers to meet, face to face, a new generation of African business leaders, who are transforming Africa’s economic trajectory.
The speakers will join founder of TEF, Mr Tony Elumelu, who doubles as Chairman of Heirs Holdings and the United Bank for Africa (UBA) Plc in an intimate open house discussion.
The Presidential Convening is a highlight of the forum, allowing the African entrepreneurs in attendance to closely engage with political leaders, to give first hand testimony of the important role government can play in catalysing growth and encouraging business ambition.
The event’s agenda includes masterclasses and panel discussions with leading speakers and sector experts, from Africa and globally, who will engage attendees in specialised training sessions to share insights, deepen their knowledge and refine their skills.
The forum will also feature a pitching event, where select entrepreneurs will deliver exciting presentations on the goods and services they provide to a distinguished judging panel.
For first time the forum will be hosted in Abuja, the Federal Capital of Nigeria and will bring together leading policymakers, business leaders, development agencies and the entire entrepreneurship ecosystem including alumni of the foundation’s entrepreneurship programme.
Last year, a significant highlight was the launch of TEFConnect, the digital networking platform for African entrepreneurs, which provides a unique digital hub for the African entrepreneurship, facilitating networking, mentorship and most importantly business beyond borders.
Previous editions have been headlined by African leaders, including President of Ghana, Mr Nana Akufo-Addo; President of Kenya, Mr Uhuru Kenyatta; former President of Nigeria, Mr Olusegun Obasanjo; former Prime Minister of Benin Republic and TEF Advisory Board Member, Mr Lionel Zinsou; Vice President of Nigeria, Mr Yemi Osinbajo.
The Tony Elumelu Foundation’s determination to bring change in scale, across Africa and its relentless focus on entrepreneurship is rooted in the inclusive philosophy of Africapitalism, created by its founder, which recognizes economically empowering Africa’s youth — the continent’s future wealth creators — and thereby creating sustainable economic and social wealth, as one of the most pressing issues of the 21st century.
In 2015, the foundation committed $100 million to empower 10,000 entrepreneurs from across the continent, over 10 years. Now in the 5th year, the foundation has funded, mentored and provided business management training to over 7,500 start-ups and small businesses, from all 54 countries in Africa.
“The TEF Entrepreneurship Forum will not just convene the most important stakeholders in the African entrepreneurship ecosystem, it provides an opportunity for everyone to make a commitment to advance entrepreneurship and scale the impact of our entrepreneurs if we are to accelerate the development of the continent,” TEF CEO, Ifeyinwa Ugochukwu said.
She added: “We are constantly inspired by the stories we receive from our entrepreneurs who are creating jobs, employing people and impacting their local communities and ultimately, the continent. We believe that these entrepreneurs are our future. Invest in them now and reap the Africa of our dreams tomorrow. This is what we are committed to.”
General
How We Rescued Ex-Lagos CP’s Wife from Kidnappers, Recovered N10m Ransom, Others—Police
By Modupe Gbadeyanka
The wife of a former Commissioner of Police (CP) in Lagos, Mr Hakeem Odumosu, Mrs Folashade Odumosu, has been rescued from the kidnappers’ den.
Mrs Odumosu, whose husband retired as an Assistant Inspector General of Police (AIG), regained freedom in the earlier hours of Thursday, January 23, 2025, after some police detective launched an attack on her abductors.
She was forcefully picked up by the suspects on Thursday, January 16, 2025, at about 9:45 pm from her car outside her residence in the Arepo area of Ogun State allegedly by four masked gunmen.
Immediately after the incident, police operatives attached to the Ogun State Command began surveillance for her rescue, which finally happened a week later.
In a statement issued by the police spokesman, Mr Olumuyiwa Adejobi, narrated that the Ogun State police operatives engaged in extensive surveillance of the creeks surrounding Arepo, gathering crucial information to track down the assailants.
It was stated that their efforts culminated in a raid today after an intelligence-led operation took the police to a creek in the swampy area of Ikorodu where the kidnappers were reportedly planning their next attack.
Upon arrival, the operatives encountered the kidnappers, who opened fire. In the ensuing confrontation, two of the gunmen were neutralized, while four others fled the scene, abandoning their operational weapons.
The victim, Mrs Odumosu was rescued within the swampy creeks during the operation, unharmed. She is currently undergoing medical evaluation as a precautionary measure and has since been reunited with her family.
The police also recovered four AK-47 rifles, three locally made single barrel rifles, ammunition of various calibres, and the sum of N10 million ransom previously demanded by the kidnappers, further ensuring that justice is served.
The Inspector-General of Police (IGP), Mr Kayode Egbetokun, commended the Ogun State Commissioner of Police, Mr Lanre Ogunlowo, and his operatives for the successful operation, saying it exemplifies the dedication and resilience of police officers.
General
Telco Tariffs Hike: FCCPC Promises to Ensure Compliance
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has said it would ensure compliance with the new telecommunications tariff adjustment.
Earlier this week, the Nigerian Communications Commission (NCC) allowed for a 50 per cent hike in tariffs for the first time since 2013.
Although stakeholders have expressed dissatisfaction with the level, the law establishing the policy will have to be followed.
While the telcos have silently expressed that the 50 per cent level was too low for the sustainability of the industry; consumers want a lower threshold with an association protecting customers saying it will approach the courts.
Speaking on how it will ensure compliance, the Director of Corporate Affairs of FCCPC, Mr Ondaje Ijagwu, said the commission was working with the NCC to ensure consumers are not infringed upon during the transition period and beyond.
He urged telecom operators to prioritise visible and measurable improvements in network reliability, speed, accessibility, and customer service as part of any tariff adjustment, saying that consumers’ interest is paramount.
According to him, it is crucial that tariff adjustments directly translate into demonstrable and tangible service enhancements for consumers, commending the NCC for adopting a deliberate and measured approach by rationalising the tariff adjustment and linking it to commensurate improvements in service quality.
”Operators are now required to disclose all key details upfront, including the cost, validity period, and the specific inclusions of a plan.
“Consumers can also expect a mandatory disclosure table from their service providers, enabling them to make informed decisions without worrying about unexpected charges or surprises,” he said.
Mr Ijagwu said the Memorandum of Understanding (MoU) signed between the FCCPC and NCC would provide a unified framework to oversee the implementation of the tariff adjustment in a manner that met the needs of consumers, encouraging consumers to report any unfair practices or concerns through the agency’s official channels to ensure effective resolution.
General
Rough, Smooth Ride for Motorists, Commuters on Lagos-Abeokuta Expressway
By Emmanuel Udom
The 81-kilometre Lagos-Abeokuta Expressway seems to be taking shape both for good and bad, as the Minister of Works, Mr Dave Umahi, works tirelessly to fix major roads and expressways in Nigeria.
Checks by Business Post in the last week revealed that from the Lagos end of the expressway, motorists and commenters seem to be having a smooth ride and rough from the Ogun State end, especially after the Toll Gate area, as pointed out by a commercial bus driver plying the Lagos-Abeokuta route, Mr Segun Abayomi.
He lamented on Thursday that from Toll Gate inward Ogun State, most of the terrible and dilapidated points and bus stops have been neglected by the government, though repairs are ongoing, according to our correspondent, who plied the road from Ewekoro in Ogun State to Iceman in Lagos State today.
It was observed that caterpillars and bulldozers, as at the time of filling this report, were busy fixing the roads at major bus stops and points from Toll Gate inward Ogun State, precisely around Joju, Corn-oil area, Omiyale, Pakoto, Vulcanizer, Bungalow, and U-Turn near Mountain of Fire Church in Ifo, Ogun State.
A female trader, returning from Oshiodi, lamented while boarding a commercial bus, of the health hazard caused by the dust raised by the workers in tiling the roads. She said the dust was affecting commuters, motorists and others.
This was confirmed by this newspaper, though efforts are being made to water the ground around Omiyale, near The Apostolic Church Convention ground and parts of Aiyede, to address this issue.
Recall that some weeks ago, Business Post that the government was doing a quick fix on the road to ease the hardship citizens playing the expressway go through daily.
The road connects Lagos to the capital of Ogun State, Abeokuta, and is one of the busiest inter-state and intra-city routes in Nigeria, covering more than 250,000 PCUs daily and constitutes one of the largest road networks in Africa, according to Wikipedia.
In 2017, the Lagos State government announced plans to put a BRT lane on the Lagos-Abeokuta Expressway in two phases, with the first from Oshodi to Abule Egba, and the second from Abule Egba to Toll Gate, the boundary area between Lagos and Ogun States.
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