Innovators, builders, makers and entrepreneurs in the Abia Technology & Innovation Network (ATIN), I want to publicly thank all for the vision which all of you have articulated, and shared with us, as we work to craft a great vision for Abia State. In many conversations with Governor-elect, Dr Alex Otti, he noted that he wants Abia to be a home for all techies.

In the next coming days, I will be meeting all of you to understand and know how Abia can become a destination for the development, application and deployment of modern technology in Africa. We want to serve and meet your needs, expectations and perceptions, because we want all of you!

Nigeria’s GDP is about $0.5 trillion. We are about 220 million people. The GDP of the United States is about $24 trillion for 330 million people. Do they have four heads? No. At parity, the GDP of Nigeria should not be less than $3 trillion and the implication is that everything we have now should be 6x multiple. So, you have 6 Dangotes, 6 Elumelus, 6 Innoson Motors, 6 Lagos and 6 “Everything”. To join the ATIN network, contact Tochukwu Clinton Chukwueke; he is based in Aba and runs Clintonel Innovation Centre.

As we welcome the ATIN techies, we’re also reaching out to Startup Founders who want to make Abia a part of their homes. Franklin Peters (FIMS), CEO of BoundlessPay, is coordinating that. Abia has the market and we’re a hub to serve many states. We need you in God’s Own State! #MakeAbiaHome.

Prof Ndubuisi Ekekwe

Co-Chair, Abia State Economic Transformation Transition Council

She is one of the leading growth makers in the world of digital economy. She has led growth teams in MTN, Ericsson, Meta (parent of Facebook), etc. She is teaching at Tekedia Mini-MBA on “How to scale a business”. I picked this from her Zoom slide. Jane Egerton-Idehen, thank you so much – that was a masterpiece on scale.

Look at those two plots to understand if you’re growing or scaling. You need to scale and what that means is clear: revenue must grow fast (exponentially) even when cost remains in the linear phase.  How can that happen? It means you have taken care of your marginal cost, meaning that servicing more customers will not trigger and accelerate higher costs. #SCALE, do not just grow.

Tekedia Institute Mini-MBA: a temple for the mastery of entrepreneurial capitalism where the best business leaders teach.

The National Economic Council, NEC, has suspended the planned removal of subsidy on petroleum products by the end of President Muhammadu Buhari’s administration.

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed disclosed this while briefing State House correspondents at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

According to the minister, the NEC concluded in its meeting that it is not a favourable time for the action.

She stated that the Council deliberated on the matter and resolved that it cannot be removed for now, but it equally agreed on the need to continue the discussion on the matter and the necessary preparatory work in conjunction with states and representatives of the incoming administration.

Mrs Zainab Ahmed explained that the planned subsidy removal should be due in June because the Petroleum Industry Act, PIA and the 2023 budget provided subsidy till June, hence any delay may require the amendment of the PIA and the budget provision.

She, however, noted that there was no deadline given for the subsidy removal and that the incoming administration will have to make decision on when it is possible to do so.

Hahaha – the men are “talking” and the words are “cash. cash. cash”, totally different from what Hamlet said in ages past. Lord Polonius in Shakespeare’s Hamlet would have wondered and said, “what an answer!”, hearing something better than the “words, words, words” from the mouth of Hamlet. 

The play is in the Nigerian stock exchange and the actors are Tony Elumelu (my mentor in business and a man who opened his heart to guide a village boy, and his company provided the first support which enabled my breakthrough) and Femi Otedola, a business icon. On the script, the words are “cash” and the stage is Transnational Corporation Plc (Transcorp).

Otedola  has been buying this company and was close to 6.5% – and a little more, he would become the dominant shareholder, controlling the company. But today, Elumelu, upped the game, pushing all the way to 25.58% of the company’s total shares: “The acquisition of 9,697,189,984 units of shares brings HH Capital’s total holdings in Transcorp to 9,991,173,177 units, representing 25.58% of the company’s total shares.”

Femi Otedola has taken his stake in Transcorp to 6.3%: ‘“We write to inform you that our client Femi Otedola (C4430272AP) has acquired additional unit of Transcorps shares that brings his percentage holdings with us to 5.8…Stanbic IBTC Stockbrokers Limited, in its own letter, informed Africa Prudential the energy magnate procured shares… That takes his entire holding in Transcorp to 6.3 per cent or 2.6 billion shares’.

We will wait for how Otedola will respond. Investors in Transcorp, rejoice because it will turn out good. I am liking it because I bought this company during the IPO, circa 2007, and I also got it for Ifeoma for her birthday! (village man who buys shares as birthday gifts instead of gold and silver for his wife). 

If Otedola responds with 50% interest, Elumelu may just go for the 100% and that means they will pay us a premium as ordinary investors. #louder, do not stop this play; I am liking it.

“In compliance with Chapter 17, Rule 17.13 of the NGX Issuers Rules, Transnational Corporation Plc (the Company) hereby informs the Nigerian Exchange Limited (NGX) and the investing public of the below new acquisition of shares in the Company. With this new acquisition, HH Capital Limited now holds a total of 9,991,173,177 units, representing 25.58% of the Company’s total shares.”