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Lagos Seeks Global Investment for $9 Billion Startup Ecosystem

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The Lagos State Government is partnering with the Dubai World Trade Centre to attract global investors to its growing startup ecosystem, worth $9 billion. During meetings in Dubai, Deputy Governor Obafemi Hamzat and Commissioner for Innovation, Science, and Technology, Tunbosun Alake, discussed strategies to draw international investments ahead of GITEX Nigeria 2025, a tech event expected to boost Nigeria’s economy by $25 million.

Alake highlighted that Lagos is home to over 2,000 tech startups, including successful companies like Flutterwave and OPay, with fintech making up about 40% of the industry. He encouraged potential investors to seize opportunities in Lagos, which has a skilled workforce and innovative ideas.

The 2024 Startup Index ranked Lagos 70th globally among top startup cities, making it one of only two African cities in the top 100. Alake expressed optimism about recent growth, supported by new regulations like the Startup Bill, and invited stakeholders to join Lagos’s entrepreneurial journey. LohMirmand emphasized Nigeria’s importance as Africa’s largest AI market and its role in the global tech landscape.


 

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Isaac Fayose Criticizes Government Over Taxation and Insecurity

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Nigerian businessman Isaac Fayose has spoken about what he considers one of the country’s biggest problems, stating that many Nigerians are worried about government taxation, insecurity, and the increasing rate of kidnappings for ransom.

He lamented the situation and criticized the government, arguing that these issues have become deeply rooted and that there appears to be no lasting solution in sight.

According to him “In Nigeria we have two governments. One is collecting tax, the other one is collecting ransom. Both of them have one thing in common which is to make life difficult for their people.

The one that is collecting tax without doing anything will come and share you rice and semolina. The one that is collecting ransom is doing giveaway on social media.”


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Concern Grows Over Rising Insecurity Following Kwara Abduction Case

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It was reported that bandits were seen in Kwara State and abducted six residents from Rukpete Village.

The incident was reported to have occurred on June 8 at about 11 p.m.

Sources revealed that seven people were initially taken, but an elderly man was later released, leaving six victims in captivity.

The rising cases of insecurity in the country remain quite alarming.


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Panic as Bandit Rumours Spark School Safety Concerns in Abuja

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The state of the country is affecting many people, as they believe nowhere is safe, including schools where they keep their children.

It has been reported that some parents have started withdrawing their children from schools in Abuja.

It can be noted that rumours of bandits being sighted near a school triggered panic, causing parents to hurriedly remove their children for safety.

While the reports of bandits have not been confirmed, the school has also issued safety measures to ensure the protection of students within the premises.


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