Headline

6 Nigerian Startups Attain Billion Dollar Status — Osinbajo

Published

4 years ago

November 20, 2021

Editor

Vice President Yemi Osinbajo says no fewer than six startups owned by young Nigerians have grown from scratch to billion dollar businesses in recent years.

Osinbajo was the Special Guest of Honour at the Graduation Ceremony of Senior Executive Course 43, 2021 of the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Jos.

He said that as at 2021, more than six of such companies had been named Unicorns– a company that is worth over a billion dollars.

Osinbajo attributed the feat of the startups to providence and good policies.

“Six of those companies started between 2016 in the middle of two recessions and global health crisis.

“The companies are: Opay, Paystack, Flutterwave, Andela, PiggyVest and Jumia.

“ Paystack and Flutterwave. Paystack was co-founded in 2016 by two graduates of Babcock University, in their twenties.

“ Paystack is a payment processing company; I am sure many have heard that it was eventually bought over by Stripe, the American multinational; it is now estimated to be worth a billion dollars.

“Flutterwave, also a payment processing coy founded in 2016; Flutterwave in Lagos; it is now worth nearly three billion dollars and both companies employ hundreds of young men and women.’’

He said that PiggyVest was co- founded in 2016 by ex students of Covenant University led by 21-year-old lady.

According to him, PiggyVest is a wealth management platform that at the end of 2019, had helped one million users save about 80 million dollars.

“What is responsible for some of these successes? Providence and good policies.

“Providence because COVID-19 was a boom period for online payment systems.

“Policy because the president approved the establishment of a technology and creativity advisory group that helped to formulate new banking policies to accommodate new tech enabled payment systems, such that these tech companies could process payments without being full scale banks.

“ The Central Bank of Nigeria (CBN) was then able to issue new types of licences for payment processing; the Federal Government has established a N75 billion National Youth Investment Fund.

“This provides financial support for small businesses in any field.’’

The vice president said that CBN had also established a Creative Sector Fund for young people in entertainment or technology.

He said there was the new programme called Investing in Digital and Creative Enterprises (iDICE) programme.

According to Osinbajo, iDICE is an over 600 million dollars programme that will support young tech and creative sector entrepreneurs through the provision of finance, skills development and infrastructure.

“Earlier this year, the federal government partnered with the UNDP and the private sector to start a programme called the Jubilee Fellows internship programme.

“ For the next five years every year 20,000 students after youth service will be given internship opportunities in private sector companies and in public agencies.

“The idea will be for the participants to gain relevant career and life skills that will enable them transition seamlessly into professional, business or public sector careers, while also earning very good pay during the internship.

“These snapshots of possibility are enough to show us that we are not facing an uncertain future without any tools at our disposal.’’

The vice president said, however, that if Nigeria was to inaugurate a new age of accelerated growth, it must adopt a new strategic direction and policy orientation.

Osinbajo said that adoption of a new strategy was what the Federal Government sought to do through the National Development Plan 2021-2025 which was recently approved by the Federal Executive Council.

“ In terms of strategic direction, the cornerstone of our strategy is boosting productivity by focusing on value addition as the guiding principle for all sectors, especially agriculture, manufacturing, solid minerals, digital services, tourism, hospitality, and entertainment.

“ In agriculture, for example, just as we seek to increase production of rice, we are paying equal attention to other parts of the value chain such as storage, transportation, processing and marketing,’’ he said.

(DAILY POST)

Headline

FULL LIST: US To Review Green Cards From 19 ‘Countries Of Concern’ After Washington Shooting

Published

13 hours ago

November 29, 2025

Editor

The Trump administration announced on Thursday that it will review the immigration status of all permanent residents, or “Green Card” holders, from Afghanistan and 18 other countries following the attack on National Guard troops in Washington, D.C.

U.S. officials identified the suspect in Wednesday’s shooting as a 29-year-old Afghan national who previously worked alongside American forces in Afghanistan.

The individual was granted asylum earlier this year, not permanent residency, according to AfghanEvac, an organisation that assists Afghans resettled in the United States after the Taliban takeover in 2021.

“I have directed a full-scale, rigorous reexamination of every Green Card for every alien from every country of concern,” said Joseph Edlow, director of U.S. Citizenship and Immigration Services (USCIS), on X.

The review follows a June executive order from President Trump classifying 19 countries as “of Identified Concern.”

The order banned entry for nearly all nationals from 12 countries, including Afghanistan. The full list of these countries is:

Afghanistan

Myanmar

Chad

Congo-Brazzaville

Equatorial Guinea

Eritrea

Haiti

Iran

Libya

Somalia

Sudan

Yemen

A partial travel ban applies to seven additional countries, though some temporary work visas remain allowed: Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and Venezuela.

Headline

Romanian Defence Minister Quits After Admitting Error In Academic Record

Published

14 hours ago

November 29, 2025

Editor

Romania’s defence minister resigned on Friday after saying he made a “mistake” on his CV about his university education, as controversy swirled over alleged lies on his resume.

Ionut Mosteanu – who has admitted to writing on his CV that he graduated from a university he never attended – said he did not want the row “to distract” the NATO member at a time when it and Europe are “under attack from Russia”.

Romania has repeatedly seen drone fragments fall on its soil since Russia invaded Ukraine in 2022, and reported a number of drone incursions.

On Tuesday, a drone crashed in eastern Romania, which borders Ukraine.

Romania has also accused Moscow of “hybrid attacks”, including meddling in presidential elections last year that were subsequently annulled.

“Today, I resigned from my position as minister of national defence,” Mosteanu said in a Facebook post, adding he wanted the country to be focused on its “difficult mission”.

“Romania and Europe are under attack from Russia. Our national security must be defended at all costs,” he added.

Mosteanu had come under pressure after a media investigation published on Thursday revealed that he wrote in a CV that he graduated from a university which he did not actually attend.

That same day he apologised for what he called “a mistake”.

“In a CV I quickly put together in 2016 using a template I found online, there is a mistake that I admit embarrasses me. I didn’t pay much attention to these details at the time,” he said on Facebook.

Mosteanu was appointed defence minister in June of this year, when a new pro-European government was formed after months of political turmoil.

Prime Minister Ilie Bolojan said in a press release that he would propose economy and tourism minister Radu Miruta take over the defence portfolio in the interim.

AFP

Headline

Russia Insists Ukraine Must Cede Land Or Face Continued Military Push

Published

2 days ago

November 27, 2025

Editor

Russian President Vladimir Putin said Thursday that he would end his Ukraine offensive if Kyiv withdrew from territory Moscow claims at its own — otherwise his army would take it by force.

The Russian army has been slowly but steadily grinding through eastern Ukraine in costly battles against outnumbered and outgunned Ukrainian forces.

Washington has meanwhile renewed its push to end the nearly four-year war, putting forward a surprise plan that it hopes to finalise through upcoming talks with Moscow and Kyiv.

“If Ukrainian forces leave the territories they hold, then we will stop combat operations,” Putin said during a visit to Kyrgyzstan. “If they don’t, then we will achieve it by military means.”

Russia controls around one-fifth of Ukraine’s territory. The issue of occupied land, which Kyiv has said it will never cede, is among the biggest stumbling blocks in the peace process.

Another important issue in the talks are Western security guarantees for Ukraine, which Kyiv says are needed to prevent Moscow from invading again in the future.

Washington’s original plan — drafted without input from Ukraine’s European allies — would have seen Kyiv withdraw from its eastern Donetsk region and the United States de facto recognise the Donetsk, Crimea and Lugansk regions as Russian.

The US pared back the original plan over the weekend following criticism from Kyiv and Europe, but has not yet released the new version.

Putin, who has seen the new plan, said it could be a negotiation starter.

“Overall, we agree that it could form the basis for future agreements,” he said of the latest draft, which the US is thought to have shortened to about 20 points.

US negotiator Steve Witkoff was expected in Moscow next week to discuss the revised document, Putin said.

US Army Secretary Dan Driscoll is meanwhile due to visit Kyiv later this week, Ukraine’s top presidential aide Andriy Yermak said.

– ‘Little can be done’ –

In his remarks Thursday, Putin repeated the claim that Russia had encircled the Ukrainian army in Pokrovsk and Myrnograd in Ukraine’s eastern Donetsk region — the most fiercely embattled area and a key target for Moscow’s forces.

“Krasnoarmeysk and Dimitrov are completely surrounded,” he said, using the Russian names for the cities.

Moscow was also advancing in Vovchansk and Siversk, as well as approaching the important logistic hub of Guliaipole, he added.

The Russian offensive “is practically impossible to hold back, so there is little that can be done about it”, Putin said.

Ukraine has denied Pokrovsk and Myrnograd are encircled, insisting its forces continue to hold the enemy along the front line.

Putin also questioned Ukrainian President Volodymyr Zelensky’s legitimacy and said signing any agreement with him would be legally “almost impossible” at the moment, a suggestion that has drawn groans from Kyiv and its allies.

According to data analysed by AFP from the American Institute for the Study of War (ISW), Russian forces have conquered an average of 467 square kilometres (180 square miles) each month in 2025 — a step up from 2024.

Moscow launched its full-scale invasion of Ukraine in February 2022, triggering the worst armed conflict in Europe since World War II.

The war has killed hundreds of thousands of people and forced millions to flee their homes.