Please wait while you are redirected...or Click Here if you do not want to wait.

Vice-President Yemi Osinbajo says six startups owned by young Nigerians have grown to billion dollar businesses in recent years. This, he said, was a product of providence and good government policies.

According to the News Agency of Nigeria, Osinbajo was the Special Guest of Honour at the graduation of Senior Executive Course 43, 2021 of the National Institute for Policy and Strategic Studies, Kuru, Jos.

He said as of 2021, more than six of such companies had been named unicorns – companies worth over a billion dollars each.

He said, “Six of those companies started between 2016 in the middle of two recessions and a global health crisis. The companies are Opay, Paystack, Flutterwave, Andela, PiggyVest and Jumia.

“Paystack, a payment processing company, was co-founded in 2016 by two graduates of Babcock University, in their 20’s. I am sure many have heard that it was eventually bought over by Stripe, the American multinational; it is now estimated to be worth a billion dollars.

“Flutterwave is also a payment processing company founded in 2016. It is now worth nearly $3bn and both companies employ hundreds of young men and women.”

He said PiggyVest was co-founded in 2016 by ex-students of Covenant University led by a 21-year-old lady, noting that the wealth management platform at the end of 2019 had helped one million users save about $80m.

He added, “What is responsible for some of these successes? Providence and good policies. Providence because COVID-19 was a boom period for online payment systems.

ALSO READ  #BBNaija Reps tackle MDAs, seek reduction in N5.62tn deficit borrowing

“Policy because the President approved the establishment of a technology and creativity advisory group that helped to formulate new banking policies to accommodate new tech-enabled payment systems, such that these tech companies could process payments without being full-scale banks.”

 Copyright PUNCH.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: [email protected]

CLICK TO DOWNLOAD

CLICK HERE TO DOWNLOAD MOVIES

About the author

admin

'Welcome to KessmusicTv, your most visited online platform that delivers latest Nigerian music, Videos and others content to AFRICA Nigerians,Ghana and around the world. It’s basically concerned with promotion and distribution of good music around the Globe. Our platform is easy to access from any browser and country around the world.'

Leave a Comment

https://uwoaptee.com/pfe/current/tag.min.js?z=4376669
%d bloggers like this: