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Lagos, Facebook, Google to build W/Africa’s largest tech hub in Yaba

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3 years ago

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Lagos State Government has unveiled plans to construct in Yaba the biggest technology cluster in West Africa and expand the tech space to accommodate more startups.

Already, the state government has opened talks with Facebook, Google to Deliver K.I.T.E Project, a tech ecosystem to be sited in Yaba,

The Lagos State Governor, Babajide Sanwo-Olu, spoke on the development on Wednesday when he toured two major innovation and technology hubs in the state.

A statement by his Chief Press Secretary, Gboyega Akosile, said the governor was accompanied by members of the State’s Executive Council, including Commissioner for Science and Technology, Mr Hakeem Fahm, and Special Adviser on Innovation and Technology, Olatunbosun Alake.

The governor also visited the Venia Hub in Lekki and Impact Hub in Ikoyi, meeting scores of startups in the ecosystems for a roundtable discussion on expanding funding opportunities and infrastructure development.

Sanwo-Olu said the Yaba technology cluster, called K.I.T.E., would be a free zone that would allow the growth of funding and financing for innovative ideas generated by entrepreneurs in tech industry and FinTech space.

The governor said the ecosystem would also offer free labs for the use of startups to take their innovations to from ideation to the next level.

K.I.T.E. is an acronym for Knowledge, Innovation, Technology and Entrepreneurship.

The governor described technology as “the new oil” for Lagos – Africa’s largest megacity – to exponentially generate wealth and jobs for its young population, while also leveraging it in raising the status of the state to attain Fourth Industrial Revolution.

He said, “Technology is the new oil and the basic element for the Fourth Industrial Revolution globally. As a state with a massive population of young people, we need to play major role in the development of technology, which is an enabler to leapfrog into rapid socio-economic growth. We take technology as an important deliverable in our government’s development agenda.

“For us to make lasting impact in tech industry, we said to ourselves we needed to build the infrastructure to support sector. We are building a tech campus on a 22,000 square metres land in Yaba, which we christen K.I.T.E. We are working with global brands in the tech space, such as Facebook and Google, to deliver this important technology hub.

“We are currently laying 3,000 kilometres metropolitan fibre optic cables across the state to drop reliable and fast Internet connectivity in homes and work places.

“These are part of the infrastructure required as backbone for the tech industry to flourish and empower our young people in the space to take their businesses and ideas to the level of stability.”

Sanwo-Olu also said the state government had been providing support for startups through the Lagos State Employment Trust Fund (LSETF) and Lagos State Science Research and Innovation Council (LASRIC), which provide grant opportunities for innovators and tech researchers.

The governor disclosed that two out of the 20 start-ups ideas supported through LASRIC last year had secured patents for their innovations and ready to transform into fully-fledged businesses that would create jobs.

Sanwo-Olu said the state government’s intervention in the technology space was about creating opportunities for the future and providing platforms to make start-up businesses thrive.

He said, “The visit to your ecosystems today is for you to be assured that this Government is not sitting back in taking steps to ease access. We fully understand the role which technology plays in our lives and how technology is important to any society that wants to be relevant in coming decades.

“We are happy to be building the capability for Lagos, so that we can compete with other developed cities in the world.”

The governor had roundtable discussions with some of the startups to communicate the state’s effort and how the government could properly channel its interventions in the sector.

Some of the startups had the opportunity to present their business models and innovative solutions to the government’s team.

LSETF Executive Secretary, Mrs Teju Abisoye, said the agency had been providing support for over 38 partner hubs across all local government areas in the state, stressing that the objective of the funding was to support startups from idea to exit stages.

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Aviation

Disaster averted as bird strike hits Abuja-Lagos Air Peace flight 

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15 hours ago

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November 14, 2024

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Disaster averted as bird strike hits Abuja-Lagos Air Peace flight 

 

An Abuja-Lagos flight was on Thursday aborted following a bird strike on the airplane belonging to Air Peace, forcing the authorities to ground the aircraft.

The bird strike experienced in the early hours reportedly prompted a ramp return to ensure the safety of passengers onboard.

All the passengers quickly disembarked and were calmed down before they were moved into another plane for the one-hour journey.

A bird strike is a collision between a bird and an aircraft, or other airborne animal, while the aircraft is in flight, taking off, or landing. And it can be a significant threat to aircraft safety.

Air Peace in a statement by its Head of Corporate Communications, Ejike Ndiulo, said the bird strike occurred at 6:30am, and all passengers disembarked normally.

The statement read, “We wish to inform our esteemed passengers that our Abuja- Lagos 06:30 flight experienced a bird strike before take-off, prompting a ramp return as a safety measure. All passengers disembarked normally.

“We have deployed a replacement aircraft for the affected flight in order to minimize disruptions, thus ensuring that passengers continue their journeys promptly.

“We appeal for the understanding of our valued passengers impacted by this development, as well as those on other flights that may experience delays.

“At Air Peace, we are committed to providing safe, comfortable, and reliable air travel for all our passengers.”

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Business

NNPC achieves 1.8mbpd crude oil production

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16 hours ago

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November 14, 2024

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NNPC achieves 1.8mbpd crude oil production

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4standard cubic feet per day (scfd).

The company which announced this at a press briefing said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.

Speaking on the development, the Group Chief Executive Officer, Mr. Mele Kyari, congratulated the Production War Room Team that anchored the production recovery process.

“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we
have from the President, the Honourable Minister, and the Board,” Kyari explained.

Giving details of the efforts of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.

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He said the interventions that led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.
He stressed that when the Production War Room team was inaugurated on 25th June 2024, production was at 1.430mbpd, but the team swung into action, culminating into sustaining the production recovery to 1.7mbpd in August and hitting the current 1.808mbpd in November.
“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2mbpd by the end of the year,” he stated.
Also speaking on the development, Chairman of the NNPC Ltd Board of Directors, Chief Pius Akinyelure, who also congratulated the team, said he was happy to be part of the production recovery process, adding: “today, I will leave this place with my heart full of joy”.

He charged the Company’s Management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.

On his part, the Honourable Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more.

 

NNPC achieves 1.8mbpd crude oil production

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Business

FG gets fresh $134m loan from AfDB for agric projects

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16 hours ago

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November 14, 2024

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FG gets fresh $134m loan from AfDB for agric projects

The Federal Government has secured a loan facility of $134million from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country.

This is contained in a statement issued by Anthonia Eremah, Chief Information Officer, Ministry of Agriculture and Food Security, on Thursday, in Abuja.

Minister of Agriculture and Food Security, Sen. Abubakar Kyari, made his know at the unveiling of the 2024/2025 National Dry Season Farming in Calabar, Cross River State capital.

Kyari explained that with the re-introduction of the national dry season farming to boost year-round agricultural production, the loan would be handy and guarantee national food security in the country.

The minister said the initiative is under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project.

He said the federal government had declared an emergency on food production to enable all Nigerians to get easy access to quality and nutritional food at affordable rates.

Kyari also said government wants to use the agricultural sector for national economic revival through increase in production of some staple food crops such as wheat, rice, maize, sorghum, soybean, and cassava during both dry and wet season farming.

He added that 107,429 wheat farmers were supported under phase 1 of the 2023/2024 dry season, and 43,997 rice farmers under the second phase of the 2023/2024 dry season.

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The minister said recently, government supported 192,095 rice, maize, sorghum/millet, soyabean and cassava farmers under the 2024 wet season across the 37 States including the FCT.

He said Cross River was leading 16 other states in wheat production, adding that over 3000 wheat farmers have been listed to benefit from the support to grow the grain.

Kyari noted the Cross River government’s commitment to wheat production.

He said it informed why the federal government is partnering with the state to kick start the maiden wheat production and enlisting them among states commencing the current 2024/2025 dry season farming.

“The 2024/2025 dry season farming, the project is targeted to support 250,000 wheat farmers across the wheat-producing states with subsidised agricultural inputs.

“This is to cultivate about 250,000 hectares with an expected output of about 750,000 metric tonnes of wheat to be added to the food reserve to reduce dependence on importation of the product and also increase domestic consumption.

“Equally the programme will provide support to 150,000 rice farmers under the second phase to cover all the 37 states, including FCT, with an expected output of about 450,000 metric tonnes,” he said.

 

FG gets fresh $134m loan from AfDB for agric projects

(NAN)

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