Sunday, September 25, 2022

Three startups valued at $1 billion founded by young Nigerians: NESG

Asue Ighodalo, chairman of NESG, says three out of four digital startups, valued at over $1 billion, were founded by young Nigerian entrepreneurs.

• October 26, 2021

Asue Ighodalo, chairman of the Nigerian Economic Summit Group (NESG), says three out of four digital startups, valued at over $1 billion, were founded by young Nigerian entrepreneurs.

Mr Ighodalo said this in his opening remarks at the 27th Nigerian Economic Summit on Monday in Abuja. The NESG chairman added that the Nigerian technology entrepreneurs could leverage the digital transformation to succeed and attract local and foreign investments.

“As I stand before you today, three out of Africa’s four startup unicorns, valued in excess of $1 billion, were founded by young Nigerian entrepreneurs. We celebrate the achievements of Interswitch, Flutterwave, and Jumia. We can create and enable many more unicorns,” said the NESG chair. “I am convinced that our path to greatness lies within our people, but we must inspire and support ourselves to believe in our country and trust our leaders, who must, by their acts, earn our trust.”

He stressed that at the 2019 NES #25, young people reminded the summit of the issues that were of central priority of policy and governance.

Mr Ighodalo also recalled that the NES #26 in 2020 proposed several recommendations to ensure a resilient economic recovery, strengthen partnerships, and unlock sub-national competitiveness.

He added that meeting the Sustainable Development Goals (SDGs) by 2030 and empowering the Nigerian youth also formed part of the recommendations.

The NESG chair further said the NES #26 Report had been presented to the Federal Executive Council and National Economic Council.

The NESG chair urged President Muhammadu Buhari to give more attention to young people, out-of-school children, job opportunities, security, and economic diversification as the focus of his eight-year-term legacy.

He also urged governors to reduce poverty, open up the rural sectors, provide extension services to farmers, storage facilities, and routes to markets while improving the quality of education for children in their states, healthcare facilities and enhancing internally generated revenue.

“The only viable plan that can deliver improved quality of life for our people is the commitment of leaders, across the board, to now urgently execute visionary, broad-based policies and programmes to create a great, safe, comfortable, productive, efficient, and developed Nigeria,” Mr Ighodalo stressed. “As we look forward to the launch and implementation of the Medium-Term National Development Plan (2021–2025), Nigerians expect that it will signal a strong commitment to advancing the key imperatives for national development.”

(NAN)

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