News

Nairaxi Emerges Winner in NCC’s Young Innovators Competition

Nairaxi Emerges Winner in NCC’s Young Innovators Competition

A mobile ridesharing mobile app that enables users to request taxi and bus rides tagged, Nairaxi has emerged over all winner at the young innovators’ competition organized by the Nigerian Communications Commission, which held at the Digital Bridge Institute, Oshodi, Lagos recently.

The company, which took the coveted prize with value of N2 Million, made up of Kingsley Eze, Co-Founder/Chief Executive Officer and Elizabeth Omale, Co-Founder and Chief Financial Officer, presented an app, which will enhance rideshare and safe delivery of packages to an audience made up of top officials of the Commission, led by the Director of Research and Development, Mr. Ismaila Adedigba who represented the Executive Vice Chairman of the Commission, Prof. Umar Garba Danbatta.

Floews, which comprised established by Bashir Abubakar as Founder and Chief Executive Officer, came second with a prize of N1.5 million while Thronix Lab, comprising three young tech-savvy Nigerians, clinched the 3rd position with a prize of N1 million,. All the contestants were adjudged on the criteria of originality, innovativeness, simplicity of usage and commercialization potential of their IT products, among others.

Floews developed novel and deep-tech all-round solution that monitors and forecasts flood imminence and thereby, disseminate the forecast as an early-warning intelligence, while Thronix Lab developed Proxie, an Internet of Thing (IoT)-enabled smart socket and Wi-Fi hotspot range extender which enables users to switch on/off their appliances connected to it remotely through their phones.

Prof Mohammed Ajiya, President, who chaired the panel of judges for the competition, commended the Commission for providing the opportunity for young Nigerians to achieve their dreams of leveraging digital solutions to address local challenges in Nigeria.

Speaking on behalf of the EVC, the Director R&D, Adedigba, commended all the 15 contestants that participated, and the panel of judges for the “commendable diligence, through and painstaking evaluation carried out by his team of independent judges, leading to the emergence of the three winners”.

He assured of the Commission’s commitment to continue to drive the Federal Government agenda of promoting indigenous ICT solutions development towards strengthening the Nigeria’s digital ecosystem.

“It is important to note that this competition is not the end, but rather the beginning of our collective journey towards bridging the digital divide in Nigeria. We must continue to support and invest in local, indigenous digital solutions to ensure that all citizens have access to the technology and opportunities they need to thrive in today’s digital age,” Danbatta said.

Ten innovators from the 15 proceeded to the Pitching Stage, for having developed the best technology solutions, amenable to commercialization and capable of solving identified challenges both locally and beyond in a move to bridge the country’s existing digital divide.

The 15 contestants at the event are Curnance PTY, Floews, Lalita by 02 Innovations Lab, Brilliant ESystems, Afrits Innovation, CitiFlow, Natal Cares, Nairaxi, Rate AM, Fixbot Technologies, Betalife, Cyber Plural, TronixLab, Ntapi Inc., and Bycep by Bedoun.

Leave a Comment

Your email address will not be published.

You may also like

Announcements Business Culture Economy

Businesses Decry Harassment and Multiple Regulatory Bottlenecks in Lagos

post-image

 

Lagos manufacturers are raising their voices against the harassment and bottlenecks they face from multiple regulators and agencies in the state. The outcry follows a viral video showing a man destroying a delivery van loaded with sachet water, popularly called “pure water,” intended for a customer. The incident has sparked widespread criticism and concern among stakeholders in the business community.

One of the prominent voices speaking against this troubling trend is Engr. Roberta Edu, CEO of Moppets Baby Food, a Lagos-based infant food manufacturing firm. Reacting to the video, Edu described it as a reflection of the “huge regulatory gap” plaguing the Nigerian business environment.

“The viral video showing a man destroying sachet water in a van that was out for delivery highlights the huge regulatory gap we have in the country,” she lamented. “Now, NAFDAC has denied their involvement, and Lagos State Environment has also distanced themselves from this act.”

Edu…

Read More
Business Culture Economy Government

Proposed Tax Reform Sparks Nationwide Debate

post-image

 

The recently proposed tax reform bills in Nigeria have stirred intense discussions among citizens and stakeholders. While some Nigerians commend the initiative as a step toward a fairer tax system, others express concerns about its potential economic impact. The bill, which introduces significant changes to the country’s tax structure, aims to implement a progressive tax regime that ensures individuals and businesses contribute to national revenue based on their earnings.

Under the proposed framework, individuals earning up to ₦800,000 annually will be exempt from paying taxes, providing relief to low-income earners. For those earning above this threshold, the tax rate gradually increases based on their income level. The next ₦2,200,000 of income will be taxed at 15%, followed by 18% for the subsequent ₦9,000,000. Higher earners will pay 21% on the next ₦13,000,000, while those with incomes exceeding ₦25,000,000 will face a 23% tax rate. For the wealthiest individuals with annual…

Read More
Business Fintech Society

CBN Mandates N50 Levy on Transfers Over N10,000: PalmPay Adapts to New Policy

post-image

 

The Central Bank of Nigeria (CBN) has enforced a directive requiring financial institutions to impose a ₦50 Electronic Money Transfer Levy (EMTL) on transactions of ₦10,000 and above. The regulation, introduced in 2022, is gaining traction as financial institutions adjust to ensure compliance.

PalmPay, a leading fintech platform, has announced its alignment with this policy. Effective from November 30, 2024, transfers of ₦10,000 or more paid into PalmPay accounts will attract the ₦50 levy, as mandated by the Federal Inland Revenue Service (FIRS).

In a statement, PalmPay emphasized that it does not benefit from the levy, explaining that all proceeds are remitted directly to the federal government. The company reassured customers of its commitment to affordable financial services, stating, “PalmPay continues to offer unlimited free transfers to any bank account. We are dedicated to providing affordable and accessible financial services to our valued customers.”

This development reflects the growing impact of the…

Read More
Business

Governor Soludo Welcomes Apostolic Nuncio to Nigeria, Reflects on Irish Missionary Legacy

post-image

 

The Governor of Anambra State, Prof. Charles Chukwuma Soludo, yesterday extended a warm reception to the newly appointed Apostolic Nuncio to Nigeria and Ambassador of the Vatican City, Most Rev. Michael Francis Crotty. The high-profile meeting took place at the Governor’s Lodge in Amawbia, underscoring the state’s deep-rooted connection to the Catholic Church and its leadership.

Most Rev. Crotty, an Irish prelate with a distinguished diplomatic career, was welcomed with open arms by Governor Soludo, who seized the occasion to honor the historic contributions of Irish missionaries to the growth of Christianity in Nigeria. The Governor spoke passionately about the invaluable sacrifices made by early church emissaries, particularly Irish priests, who dedicated their lives to spreading the gospel and establishing Catholic institutions across the eastern region of the country.

In his address, Governor Soludo highlighted the legacy of the Shanahan family and other Irish clergy, whose work laid the foundation for…

Read More
Business Economy Government

Nigeria Data Protection Commission (NDPC) and Hon. Adedeji Stanley Olajide Empower Over 1,000 Youths with Data Protection and Digital Literacy Training in Ibadan

post-image

 

 

In an effort to equip Nigeria’s youth with essential knowledge on data protection and digital literacy, the Nigeria Data Protection Commission (NDPC), in collaboration with Hon. Adedeji Stanley Olajide, the Chairman of the House Committee on Digital and Information Technology, hosted a five-day training in Ibadan. The event, which saw over 1,000 young Nigerians participate, marks a significant milestone in the country’s push to promote digital awareness and data privacy practices.

Held across multiple locations in Ibadan, the training was designed to provide participants with a deeper understanding of how to protect their personal data in today’s digital world. The initiative is part of the NDPC’s ongoing efforts to raise awareness and build a data-conscious society, especially as more people engage with online platforms.

Representing the National Commissioner and CEO of the NDPC, Dr. Vincent Olatunji, Mrs. Abiola Jide-Abe, the Commission’s Head of Strategic Planning and Communication, shared the Commission’s strong…

Read More
Business Economy Gadgets Government Technology Technology Trends Telecoms

NCC Launches Licensing Framework for Application-To-Person (A2P) Services, Invites Stakeholder Participation

post-image

 

 

The Nigerian Communications Commission (NCC) has officially rolled out its much-anticipated Licensing Framework for Application-To-Person (A2P) services, a move that promises to bring greater structure and transparency to the rapidly evolving telecom industry. The framework, which has been carefully crafted in line with the provisions of the Nigerian Communications Act (NCA) of 2003, was made available for public access on the Commission’s official website, www.ncc.gov.ng, as of November 29, 2024.

The A2P service model plays a crucial role in facilitating automated communication between businesses and their customers, typically for notifications, alerts, and marketing messages. This framework is designed to regulate how such services are delivered, ensuring that the process is seamless, efficient, and compliant with existing laws. By setting clear guidelines, the NCC aims to foster a more reliable and transparent ecosystem for both service providers and consumers.

In an effort to engage…

Read More
Autos Business Culture Economy

Peugeot 504: A Timeless Classic That Defined an Era

post-image

 

First introduced in 1968, the Peugeot 504 has earned its place as one of the most iconic and enduring vehicles in automotive history. With production spanning over three decades, including localized manufacturing in some regions until 2006, the 504 left an indelible mark on the global car market. Known for its robust design, elegant styling, and versatility, it quickly became a symbol of reliability and class.

Available in multiple body styles—sedan, coupe, convertible, wagon, and pickup—the Peugeot 504 catered to a diverse range of drivers. Under the hood, the car offered a variety of engine options, from petrol to diesel, with capacities ranging from 1.8 to 2.7 liters. The diesel variants were particularly celebrated for their efficiency and durability, making the 504 a trusted companion in regions with challenging conditions, such as Africa and South America.

Designed by the renowned Italian firm Pininfarina,…

Read More
Business Economy Society Software Sponsored

NDPC Boss Advocates Data Protection Sustainability at KPMG Workshop

post-image

Dr. Vincent Olatunji, National Commissioner and CEO of the Nigeria Data Protection Commission (NDPC), has called for sustainable and long-term practices in data protection to build trust and confidence in data processing activities. Dr. Olatunji made this call as the keynote speaker at a Data Protection Workshop organized by KPMG Advisory Services, where he presented a paper titled “Data Protection Sustainability and the Role of the Data Protection Officer (DPO).”

In his address, Dr. Olatunji commended KPMG for its efforts in organizing the workshop, describing it as aligned with the Commission’s strategic focus on awareness and capacity building. He noted the importance of distinguishing between privacy and data security, emphasizing the NDPC’s commitment to raising awareness on both fronts.

During his presentation, Dr. Olatunji outlined the fundamentals of data protection sustainability, focusing on:

  • Continuous compliance with data protection regulations;
  • Privacy by design and default in organizational systems;
  • Awareness creation among stakeholders;…
Read More