General
StarNews, GBEF Launch Competition to Expose Nigerian SMEs to US Opportunities
By Adedapo Adesanya
African video streaming platform, StarNews Mobile and the Global Black Economic Forum (GBEF) have announced a call for applications for the launch of their Business Competition in Lagos, Nigeria which seeks to empower Nigeria’s most promising businesses that are classified as Small-Medium Enterprises (SMEs) with invaluable investment and partnership opportunities from the United States.
The competition held in partnership with MTN and the United Nations Agency for International Development (USAID), will offer a platform for emerging entrepreneurs to showcase their ventures and gain national visibility over 10 weeks between April 8 to June 14, 2024.
It will be hosted exclusively on the StarNews Biz Channel on the StarNews platform with subscribers voting for their favourite candidates. The top 20 contestants will seize the spotlight and make their mark on the business landscape.
Over 80 per cent of Nigerian startups are incorporated in the US, according to the US Embassy and Consulate for Nigeria, and accounts for more than 60 per cent of venture capital funding in Nigerian startups. In 2023 alone, Nigerian startups raised a total of $398 million however, this signalled a 66 per cent funding decline compared to 2022 due to the global economic downturn, reinforcing the massive need for a fresh injection of capital and business support for Nigeria’s emerging SMEs.
The StarNews Business Competition in partnership with GBEF delivers a unique opportunity for thriving Nigerian SMEs to access mentoring, funding, partnerships and socio-economic development tools through the Global Black Economic Forum.
With the prospect of securing cash prizes through StarNews worth up to NGN5,000,000, getting access to StarNews’s network of investors and the opportunity to gain national visibility by having their business on the StarNews web platform.
The top three winners will also receive coaching from GBEF’s Academy for Advancing Excellence and become part of GBEF’s ecosystem of global leaders committed to social and economic justice across the Black Diaspora.
Previous speakers at GBEF convenings from the entertainment sector include Wyclef Jean (Haitian Musician & Activist), Debra Lee (Former CEO of Black Entertainment Television – BET) and Ceci Kurzman (Founder of Nexus Management Group). Applications will close on April 5, 2024.
Speaking on the competition’s launch, Mr Guy Kamgaing, Founder and CEO at StarNews Mobile, says “The StarNews Business Competition is a passion project close to our hearts at StarNews Mobile. It’s about discovering the most promising business entrepreneurs and creators in Nigeria, opening up global opportunities for them and providing them with the resources and tools to achieve their goals. By partnering with MTN, USAID and GBEF, we want to be a platform of empowerment for these SMEs by helping them give back to the communities that are supporting them.”
Adding his input, Mr Alphonso David, President and CEO of the Global Black Economic Forum notes that, “Our partnership with StarNews Mobile is a critical resource as we continue to build the collective strength of entrepreneurship across the Diaspora. Building a sustainable ecosystem of Black entrepreneurs in the United States and across the African continent is essential to create a future that makes economic opportunity and economic freedom a reality for all.”
A sister company to ESSENCE, GBEF advances its work by convening global summits and conferences, bringing together world leaders, business leaders, entrepreneurs, celebrities and civic leaders to address our communities’ most challenging problems. GBEF’s Academy for Advancing Excellence facilitates workforce and leadership development strategy, addressing the talent pipeline & employee lifecycle, providing leadership development & coaching, and conducting institutional assessments & research.
“GBEF also develops and implements economic and social justice policy recommendations with partners ranging from civil and human rights organisations to government entities and corporations that advocate for economic opportunity, social justice, and health equity through thought leadership, advocacy and litigation.
Launched in 2017, StarNews Mobile empowers African content creators with the unique opportunity to monetize their work through a subscription model, boasting over 4 million subscribers and a thriving community of more than 120 content creators. With a strong presence across six countries including Cameroon, Nigeria, Côte D’Ivoire, Congo, Benin and Ghana, the platform has also established key partnerships with major telecom operators such as MTN and Orange.
To date, StarNews Mobile has secured over $8mn in funding with its most recent raise – a $3 million pre-Series A funding round in October 2023 – led by Janngo Capital with participation from French football players Aurélien Tchouaméni, Jules Koundé, and Mike Maignan.
General
Deep Blue Project: Mobereola Seeks Air Force Support
By Adedapo Adesanya
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Dayo Mobereola, is seeking enhanced cooperation between the agency and the Nigerian Air Force (NAF) with the aim of strengthening tactical air support within the Deep Blue project.
During a courtesy visit last week, Mr Mobereola told the Chief of Air Staff, Air Marshall S. K. Aneke at the NAF Headquarters in Abuja, that the Air Force was a strategic partner in enhancing maritime security in Nigeria and sustaining the momentum of the Deep Blue Project’s success.
According to the DG, “We are here to seek the Air Force’s support, given the importance of tactical air surveillance to the Deep Blue Project. Nigeria is the only African country with a record of zero piracy within the last 4 years. The Deep Blue Project platforms have been used to achieve zero piracy and sea robberies in the Gulf of Guinea, and we need your collaboration to sustain this momentum”.
He further emphasised that international trade depends on security, which is why vessels prefer to go to or transit through countries where they are secured. “With the traffic we have now, we need to show more security might through collaboration to strengthen our trade viability because of the risks attached to our route. We need these collaborations to sustain what we have achieved so far with the Deep Blue Project”.
The NIMASA DG expressed hope that the collaboration with the Nigeria Air Force will reduce response time.
On his part, the Chief of Air Staff, Air Marshall S.K. Aneke, noted that the Air Force desires to be “a very supportive and collaborative partner with NIMASA and is ready to match the Agency step by step and side by side to achieve the desired results.”
He noted that “collaboration between NIMASA and the Nigerian Air Force under the Deep Blue Project can be strengthened through a joint strategic framework, integrated command structures, and a standing steering committee to ensure shared objectives and accountability.
“Establishing a joint maritime domain awareness fusion cell will enable real-time intelligence sharing, synchronised surveillance, and faster response to maritime threats and ensure sustained operational effectiveness across Nigeria’s territorial waters and exclusive economic zone,” he said, according to a statement.
The Air Force Chief added that the Air Force can also support NIMASA outside the Deep Blue Project operations by providing its own ISR platforms, tactical air support, and rapid airborne deployment for interdictions and search and rescue missions.
While thanking the NIMASA DG for the basic trainings the Agency has provided the aircraft pilots under the Deep Blue Project, Air Marshall Aneke also highlighted areas of operational challenges needing NIMASA’s attention to include bridging the communication gap between NAF operators and NIMASA, higher level and in-depth maintenance trainings, readily available fueling of aircrafts to avoid delays on missions, and provision of flying kits among others.
He therefore pledged the Air Force’s collaboration and assured that the request by NIMASA has been noted and that things will begin to move at thrice its speed going forward.
General
Nigeria’s Democracy Suffocating Under Tinubu—Atiku
By Modupe Gbadeyanka
Former Vice President, Mr Atiku Abubakar, has lambasted the administration of President Bola Tinubu for the turnout at the FCT Area Council elections held last Saturday.
In a statement signed by his Media Office, the Adamawa-born politician claimed that the health of Nigeria’s democracy under the current administration was under threat.
According to him, “When citizens lose faith that their votes matter, democracy begins to die. What we are witnessing is not mere voter apathy. It is a direct consequence of an administration that governs with a chokehold on pluralism. Democracy in Nigeria is being suffocated slowly, steadily, and dangerously.”
He warned that the steady erosion of participatory governance, if left unchecked, could inflict irreversible damage on the democratic fabric painstakingly built over decades.
“A democracy without vibrant opposition, without free political competition, and without public confidence is democracy in name only. If this chokehold is not released, history will record this era as the period when our hard-won freedoms were traded for fear and conformity,” he stressed.
Mr Atiku said the turnout for the poll was below 20 per cent, with the Abuja Municipal Area Council (AMAC) recording 7.8 per cent.
He noted that such civic participation in the nation’s capital, the symbolic heartbeat of the federation, is not accidental, as it is the predictable outcome of a political environment poisoned by intolerance, intimidation, and the systematic weakening of opposition voices.
The presidential candidate of the People’s Democratic Party (PDP) in the 2023 general elections stated that the ruling All Progressives Congress (APC) under Mr Tinubu has pursued a deliberate policy of shrinking democratic space, harassing dissenters, coercing defectors, and fostering a climate where alternative political viewpoints are treated as threats rather than contributions to national development.
He called on opposition parties and democratic forces across the country to urgently close ranks and forge a united front, declaring, “This is no longer about party lines; it is about preserving the Republic. The time to stand together to rescue and rebuild Nigeria is now.”
General
Nigeria Eyes Full Entry into Council of Palm Oil Producing Countries
By Adedapo Adesanya
Nigeria is set to validate a technical committee report geared towards transitioning the country from observer status to full membership of the Council of Palm Oil Producing Countries (CPOPC) in April.
Mr Abubakar Kyari, Minister of Agriculture and Food Security, said this when the council’s mission visited him over the weekend in Abuja, noting that the ministry had constituted a technical committee to consider how the country would seamlessly transit from observer country to membership in CPOPC based on its strategic importance in palm oil production.
“We are conscious of the fact that the palm oil value chain is very strategic for us and identified it as an export crop that can drive foreign exchange for the country and ensure good health in terms of consumption.
“We are conscious of the fact that we need the support of CPOPC countries to provide the country with a new variety of seeds that are climate-smart and resistant so that they can be produced by farmers in the country,” he said.
Mr Alphonsus Inyang, President, National Palm Produce Association of Nigeria (NPPAN), said being a member of CPOPC Nigeria would target over 10 million tonnes of oil palm between 2026 and 2050.
“We are also targeting 2.5 million hectares from among Nigeria households who are out to produce one hectare each, geared towards a N20 trillion annual economy within this period from among Nigeria households.
“We are working side by side with the big players who will be developing plantations,” he said.
The Secretary-General of CPOPC, Ms Izzana Salleh, said the council’s mission to Nigeria was to see how the country could transit from observer status to full membership, among others
She said that the status of the country as an observer nation since 2024 would expire by November.
Ms Salleh assured the country of the council’s readiness to support its vision to strengthen domestic production, enhance food security and build a competitive and sustainable palm oil supply chain.
The official emphasised that being a member of the council would strategically position Nigeria for a greater future regarding oil palm production.
According to her, the visit is to strengthen the council’s engagement with Nigeria, including potential membership in CPOPC.
She said: “The council’s mission to Nigeria aims to advance both Nigeria’s national ambitions and Africa’s collective voice in global agricultural discussions.
“CPOPC was established to promote cooperation among producing nations, empower smallholders, advance sustainability, and ensure fair, science-based global dialogue on vegetable oils.
She emphasised that being a member of the council would strategically position the country for greater future prospects regarding oil palm production and the value chain, as well as export.
“We are ready to support Nigeria’s vision to strengthen domestic production, enhance food security, and build a competitive and sustainable palm oil supply chain,” she said.
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