NEWS

CNN visits Yaba, Nigeria’s headquarters of tech innovation

Published

7 years ago

July 3, 2017

Eleni Giokos, host of ‘CNN Marketplace Africa’, meets the tech startups that are based in the Lagos suburb of Yaba, now dubbed Yabacon Valley, which is becoming Nigeria’s own take on California’s Silicon Valley.

Giokos meets investment banker turned entrepreneur, Jay Alabraba who recognized the need for an efficient mobile money transfer system in Nigeria’s heavily cash-based economy. Alabraba tells Giokos about Paga, his easy and efficient payment system: “With Paga people can make all kinds of payments, directly to businesses or even transfer money to other individuals or businesses, bill payment, air time top up…We’re also involved in the international money transfer space now. So, the convenience is really really huge. It’s about giving people back more of their time.”

Alabraba explains the benefits of establishing a company in Yaba: “So many great things have happened in Yaba, infrastructure has been great, we have fiber here so internet is really quite stable and fast. And other startups, other peers and partners that we work with have moved to the neighborhood as well.”

Image result for CNN visits Yaba

He continues by identifying the opportunities that the tech sector is creating for the country: “Nigeria is an extremely interesting opportunity when anyone is looking at an emerging market. It’s a market that is hard to ignore. The tech industry does have a great role to play in pretty much any sector you’re thinking about. It may be in banking, it may be in agriculture, it may be in manufacturing, but technology has a role to play in just making systems more efficient.”

The programme speaks to Femi Longe, co-founder of Co-Creation Hub, a space where innovators can find resources to create tech based solutions to local challenges. Longe discussed the inspiration and rationale for founding her business: “We started really out of frustration, the same social challenges we had in Nigeria when we were kids, we believe that the solution to get Nigeria and Africa and lots of the developing world out of the current state of where they are, is going to come from smart people putting their energies in entrepreneurial ways of addressing the problems our societies face.”

Femi Longe and her business partner Tunji Eleso were one of the first companies to set up their business in Yaba. They’ve seen the neighborhood grow significantly from less than ten startups five years ago, to well over 75 today. Longe explains how her business looks to educate and encourage others about solving problems and overcoming challenges: “There’s problems in our healthcare system, there’s problems in our education system, there’s problems in the way society is governed. The typical thinking in the past was that those problems were the job of NGOs to fix or the government to fix. What we’re telling people is to see how we can reframe that thinking to say “If I see a problem in my society, I can actually create a business out of solving that problem”.”

CNN learns that the country’s Minister of Technology wants to improve Nigeria’s internet connectivity which, despite the growing start-up industry, is still behind countries like Kenya or Rwanda.

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Barr. Adebayo Shittu tells the programme about the intention to increase internet connectivity and the opportunities that this creates: “We hope that with the current state of 18% connectivity, that by 2018 we will be able to grow it to 30%. With Nigeria’s population of about 200 million, the market is there for the investor.”

Shittu goes on to explain that Nigeria is trying to diversify its economy and is looking at the technology sector as a source of jobs: “Today, the ICT sector employs more Nigerians to work than the oil industry which provides about 90% of our income as a country, and the opportunities are limitless. Over the years almost 99% of our income had been through oil. Today the figures have changed and I believe they will continue to change with new initiatives by the private sector to drive ICT development.”

SOURCE: Naijalife Magazine

NEWS

Dele Farotimi Breaks Silence After Release From Detention

Published

5 hours ago

December 25, 2024

Reporter

Dele Farotimi breaks silence after release from detention | fab.ng

Activist lawyer and author Dele Farotimi maintained his stance against Senior Advocate of Nigeria Afe Babalola during a press conference in Ado-Ekiti on Tuesday, following his release from detention.

Farotimi addressed reporters to restate his previous allegations against the prominent legal figure.

“I have never lied against anyone. If I don’t know, I will say I don’t know. The truth is enough—it is the only weapon with which you can slay the monster called Nigeria.”

Welcome back, Comrade @DeleFarotimi. pic.twitter.com/TYV6e7bnwK

— Inibehe Effiong (@InibeheEffiong) December 24, 2024

The Ekiti State Correctional Centre detained Farotimi after defamation allegations emerged against him.

His book “Nigeria and its Criminal Justice System” contains specific allegations of unethical conduct against Babalola, claims which Farotimi continues to defend as accurate.

The author stands by the investigative findings detailed in his publication despite the legal challenges he has faced.

“I understand the challenges that come with fighting entrenched powers, but I remain steadfast in my commitment to the truth,” he added.

An Ado-Ekiti magistrate court released Farotimi on December 20 after he met multiple bail conditions.

These conditions included posting a ₦30 million bond, securing two sureties with one being a property owner, and surrendering his passport. The court also restricted Farotimi, barring him from giving interviews to the media.

The case has ignited widespread discussions within Nigeria’s legal community regarding press freedom and institutional influence in the justice system.

Legal experts and civil rights advocates now await the forthcoming court proceedings, which will examine the merits of both the defamation claims and Farotimi’s defence.

Check out more news updates here.

MOVIES

Funke Akindele’s “Everybody Loves Jenifa” Rakes Box Office With ₦511 Million In Just 12 Days

Published

1 day ago

December 24, 2024

Reporter

Everybody Loves Jenifa rakes box office with ₦511 million | fab.ng

Funke Akindele’s comedy film “Everybody Loves Jenifa” has shattered Nigerian box office records by earning ₦511 million within just 12 days of its release.

FilmOne, the film’s distributor, revealed that this remarkable achievement makes it both the highest-grossing Nollywood film of 2024. It is also the fastest Nigerian movie to reach the ₦500 million milestone.

“History Made! Everybody Loves Jenifa smashes records with ₦511M at the box office, becoming 2024’s highest-grossing Nollywood title and the fastest to hit ₦500M in just 12 days! Don’t stop! Let’s smash the record books. Watch Everybody Loves Jenifa in cinemas near you,” the post said.

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“Everybody Loves Jenifa” achieved unprecedented success by generating ₦206 million during its opening weekend. It established a new record for the highest-grossing opening weekend in Nollywood history.

The film demonstrated its immediate appeal by earning ₦87.8 million on its first day. This set another record for the highest single-day earnings in Nigerian cinema.

Funke Akindele masterfully reprised her beloved Jenifa character, delivering a performance that perfectly captured the character’s signature humour and charm.

The narrative follows Jenifa through an engaging storyline filled with personal growth, fame-related challenges, and comedic situations that resonated deeply with audiences across Nigerian theatres.

Akindele’s marketing strategy proved exceptionally effective. Moreso, she implemented comprehensive social media campaigns and made strategic appearances at various cinemas to connect with viewers.

Her promotional efforts transformed the film’s release into a cultural phenomenon that extended beyond traditional movie-watching.

The film features an impressive ensemble cast including Falz, Omotunde ‘Lolo’ Adebowale-David, Olayode Juliana, Chimezie Imo, Layi Wasabi, Bisola Aiyeola, Jackie Appiah, and Omowunmi Dada.

These actors collectively bring depth to this comedy-drama that successfully weaves together humorous moments, emotional depth, and surprising plot developments.

Check out more movie updates here.

MUSIC

Tems Debut Album Ranks #2 On Billboard’s R&B List Of 2024

Published

5 days ago

December 20, 2024

Reporter

Tems debut album hits #2 on Billboard's R&B list of 2024 | fab.ng

Tems’ Global Impact: A Billboard Recognition

Tems, a global music sensation, has solidified her position as one of Africa’s most successful artists, with her album captivating millions of fans worldwide and garnering numerous prestigious awards.

In a recent testament to her talent, her debut album secured the second spot on Billboard’s list of the best R&B albums of 2025.

This remarkable achievement places Tems alongside renowned artists such as Chris Brown, PartyNextDoor, Muni Long, and Bryson Tiller.

Furthermore, Billboard has praised Tems’ music for transcending the boundaries of Afrobeats, resonating with audiences across the globe.

“The Nigerian star finds her footing in the global spotlight and stands firmly in her purpose on her dazzling debut album Born in the Wild.

“She opens up about surviving her mental wilderness and learning to thrive in it on the opening acoustic ballad that shares the album’s title.

“And on the mid-tempo standout “Burning,” Tems confronts the trappings of her newfound stardom but finds comfort in the collective struggle. As someone who’s studied Céline Dion, Destiny’s Child, and Mariah Carey and dreamt of making soul-stirring songs that send people into their feelings, Tems succeeded with aplomb.

“Born in the Wild became her highest-charting project on Top R&B Albums (reaching No. 5) and marked her career-first entry on the Billboard 200, peaking at No. 56.

“And while Born in the Wild and “Love Me JeJe” earned Tems 2025 Grammy nominations for Best Global Music Album and Best African Music Performance, respectively, her best R&B song nod for “Burning” further reinforced the rich diversity of her music– and the notion that African artists like Tems cannot be bound to the catchall “Afrobeats” term, as their music has traveled well past the borders of the continent. – H.M.”

Tems’ debut album, “Born In The Wild,” received critical acclaim in the United States.

Indeed, the album earned a Grammy nomination for Best Global Album.

Additionally, her single “Burning” broke records by securing a nomination for Best R&B Song. Meanwhile, “Love Me Jeje” received a nomination for Best African Music Performance.

Check out more music updates here.