₦airaland Forum

ycat:
I'm female. It depends on the topic though. Introducing yourself as 'Yoruba from Kogi' in itself isn't awkward but to join the hausa/fulani in their "intake" thread to express "one north" is. I think what tpiar is talking about though are the impostors and haters who shred Yoruba by starting with "I'm Yoruba", these are many in nairaland.

Owobobrown:
and I don't think I have done that before and I have never been ashamed of my identity and why is it bad if anyone said he or she is Yoruba and what is the "tpiar" ish. And sorry for addressing you as a guy

delpee:
My sister, glad to meet you here. Omo Otan afole, onile obi. Hope I got it right.

I didn't realise this thread was still on. I searched for it at a time to no avail.

Well done guys.

IlekeHD:
https://www.mechsoc.com/wp-content/images/Schlumberger.png

H. Adesola (‘Sola) Oyinlola

He was most recently Chairman of Africa at Schlumberger and was also the President of the Schlumberger Foundation, a non-profit corporate foundation. Having worked with Schlumberger for 30 years, Sola has held a number of senior operational positions across the world, including Vice President and Global Treasurer, and Managing Director for Nigeria and West Africa.

Sola is a co-founder of the Petroleum Club of Lagos and serves on a number of boards including Guaranty Trust Bank plc and the Schlumberger Foundation. He has a passion for human capital and host community development, as evidenced by his participation in issues of economic development, inclusion, and mentoring. He holds a BSc in Accounting from the University of Ghana, and an MBA from Stanford University. He is an alumnus of the Oxford Institute for Energy Studies.

IlekeHD:
Mary Olushoga

Olushoga is founder of awpnetwork.com, a platform powering small business success for African entrepreneurs. She is a 2015 Vital Voices Global Leadership Fellow, the first-ever GOOD Maker/Oxfam America International Women’s Day Challenge Winner, a Nigeria Leadership Initiative (NLI) Associate, and an Oxfam America Sisters on the Planet Ambassador.
Olushoga received a bachelor’s degree from Union College in Schenectady, New York and a Master of Science degree from Baruch College. She has served as a Public Policy Fellow at the University at Albany, Center for Women in Government and Civil Society and participated in the Sub-Saharan African Women In Public Service Fall Institute. Olushoga has featured on BBC World News, Black Enterprise, iwantherjob.com, AFK Insider, Applause Africa, BET Networks, and has presented her work on women entrepreneurs at the Columbia University Africa Economic Forum, the United States Department of Labor Strategy Meeting on Inclusion.


Yoruba women rocks!

Ritchiee:
For some of us who are not really into startups and do not know what is meant by seedfunding...READ THIS:

[b]What Are Seed Investment Funding Options For Startups In Nigeria?


Seed investment funding or seed money, sometimes known as seed funding is the money needed or used to set up a new business.Ok, now you have a million dollar idea, you have written a very detailed and comprehensive business plan, you are so excited that you can hardly wait to see your business grow and become successful. Suddenly, you are hit with the hard reality of very little or no capital at all.

Seed Investment Funding Getting funds or capital for your startup is an essential factor for its launch. Even though many entrepreneurs, investors and business owners may argue that money is not the most important thing for a startup, its importance cannot be over-emphasized because you’ll need it to run a successful business.

According to statistics showing various seed money options by Businessideaslab.com:

Personal Funds (Personal credit) – 34.9%
Friends and family – 11.29%
Venture Capital – 4.14%
Angel Investors – 3.76%
Banks – 2.63%
Crowd Funding – 0.96%

From the statistics above, you have seen that the highest percentage of seed money is from personal funding and second to family and friends. Hence, I will be writing about seed investment funding for startups in Nigeria except friends and family.

1. Grants:

Grant is an amount of money given to an individual or business for a specific project (startup). Grants could come from the government, international organizations or NGOs. Getting a grant to fund your startup is not always an easy task but with thoughtful strategies you could get it easily and quickly.

There are many grants in Nigeria, below are few of them:

Youth Employment in Agriculture Program (YEAP)
Grofin.com
The Ford Foundation
Shell LiveWIRE Nigeria
African Entrepreneurship Program (AEP)
Africa Innovation Award (AIA)

2. Crowd Funding:

According to Wikipedia, it is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically from the internet.
In a clear and simple term by Fundable.com, Crowdfunding is a way of raising finance by asking a large number of people each for a small amount of money.
In Nigeria many people are not familiar with the term. Even some bankers and finance personnel do not understand crowdfunding. Despite the challenges facing crowdfunding in Africa (Nigeria) like trust and lack of understanding of the relatively new concept of crowdfunding, there are crowdfunding platforms focusing on African Startup.

We have:

JumpstartAfrica
Akabbo.ug
FundaSolva
PushandStart
StartCrunch
NigeriaCrowdfunding
CFundin

3. Business Plan Competition:

Many organizations offer business plan competitions and award to encourage and help entrepreneurs with innovative business ideas to grow their startup or growing business. Some of these organizations are:

Anzishaprize.org
IsDB Business Plan Competition
Development Innovation Ventures
BID Network
Argidius-ANDE Finance Challenge (AAFC)
Business Plan Competitions (BPC)
African Diaspora Marketplace
The African Innovative Prize
Ernst & Young
Innovation Prize for Africa (IPA)

Get more details about these business plan competitions at AfterSchoolAfrica.com

4. Strategic Investors:

Strategic Investors can be companies or individuals who invest in startups to either solve a problem they currently face or to expand into a new market. Large corporations, such as State Street, IBM, Intel and Lucent have venture arms that invest in startups (according to Forbes).

This may not be easy for an average entrepreneur in Nigeria to come by but then you can always try it out and if it doesn’t help your startup, quit.

5. Co-Founders:

It is wise to find a cofounder who has complementary capabilities based on the business model you want to implement. That way, your startup would be more self-sufficient and that means you wouldn’t spend so much because you’ll be hiring very few people.

6. Angel Investor:

This does not mean angel from heaven who invests in business.

According to MyTopBusinessIdeas.com:

“An Angel Investor (or angel) is a high net-worth individual who typically invests in and supports startup companies (brand new ideas by existing companies in their early stage of growth, with the aim of achieving higher returns than the typical public markets provide”.

Many entrepreneurs agree with the fact that angel investing is one of the best strategies for raising equity capital because of its flexibility in deal structuring and financial decisions but as a Nigerian entrepreneur you may be unable to locate angel investors in the country. So you can also look out for foreign angels who are interested in investing in Nigeria.

Notable Investment Firms in the US are:

New York Angels Inc, New York City
Ohio Tech Angel Funds, Columbus, Ohio
Hyde Park Angel Network, Chicago
Golden Seeds LLC, New York City

Notable Angel Investment Firms in Africa

TBL Mirror Fund
eVA Fund
West African Synergies
Africa Media Ventures Fund
Jacana Partners
Angel Investment Network
Fanisi Capital
Adlero Capital
Invenfin Venture Capital
East Africa Capital Fund Partners (EACFP)

(As seen in AnswersAfrica.com)

7. Venture Capitals:

Also known as Venture Capital Firms, Venture Capitalists or VCs. This is made up of Companies of many investors who are willing to fund high risk, high potential startups in return for a certain Percentage of shares in the company.

Honestly, getting funds from VCs is usually very tough because they are seasoned investors that know the intricacies of startup, investing and running businesses who want nothing less than result or ROI. If you think you’ve got a good business idea that can stand the scrutiny of Venture Capitalists, go for it and don’t look back.

Notable Venture Capital Firms in Nigeria according to MyTopBusinessIdeas.com

Vetiva Capital
Solid Rock Securities and Investment Limited, Lagos
New Devco Investment and Securities Limited, Lagos
Riggs Ventures West Africa Limited, Lagos
Best Future Integrate Investment Limited, Lagos
Profound Securities Limited, Lagos
Osprey Investments Nigeria Limited, Abuja
Webar Limited, Abuja
Disok International Limited, Kaduna

You may try all this options and fail but that doesn’t mean you have the worst business idea on earth. The world is full of great ideas already but only short of great business men. You know there’s always a way out of every tough situation and you can’t afford to give up now.

If you try all these options mentioned above and fail, there are other creative ways to raise money for your startup such as, starting on a very small scale that you can afford to fund, you can start making money from day one of your business or get a temporary job to fund your startup.ICT IS THE IN-THING NOW BUT FOR THOSE WHO ARE IN LOVE WITH VOCATIONS AND CRAFTS,I IMPLORE THEM TO THINK ABOUT PACKAGING...If you don't know how to package your biz,come to this thread and let everybody know your problem and God would do wonders in our lives... [/b]

dominique:
E n le o, my fellow omoluabi. Please your attention is needed on the thread below. Please come to the aid of one of our own.

https://www.nairaland.com/3063630/re-clarion-call-intervene-mrs

Cc
Aareonakakanfo
Isalegan2
Egunmogaji
Mayoroflagos
Ilekehd

frankbin2000:
Hello Ritchie, you plagiarized our work without providing the source of the article. That is criminal act and very bad of you.

This article was written by Promise Excel for www.thetotalentrepreneurs.com

Please, do not do this again, it's unlawful.

Original source of article: http://www.thetotalentrepreneurs.com/seed-investment-funding-options-for-startups-in-nigeria/

Nigerian airline pilot Ademola Odujinrin, known as “Lola”, has become the first African to fly solo around the world, his foundation Transcend said in a statement Thursday.
The 38-year-old Nigerian left Washington in September last year abord a Cirrus SR22, a small, single engine airplane, and stopped in more than 15 countries on five continents during the journey, according to the statement. Odujinrin landed at his starting point at Dulles Airport, just outside the American capital on March 29. “I want African children to think: ‘I can do this too!'” Odujinrin said. The website Earthrounders lists Odujinrin as the first African among the 120 pilots who have flown around the world solo since American Wiley Post became the first to do so in 1933. A commercial airline pilot since 2011, Odujinrin works for Air Djibouti, which partially financed the project.

deedeedee1:
wow!! i really love this thread. I really wish we had our own country. Things would surely be a lot better.
AWON OMO ODUDUWA RERE!!!

afonjasaremad:
What are you people.waiting for.....quickly do that

MrMaestro:
Ademola Odujinrin is the first African in the world to fly around the world solo.

Read more at: http://www.vanguardngr.com/2017/04/nigerias-odujinrin-becomes-first-african-fly-solo-around-world/

Olu317:
I just cant stop being grateful to God Almighty, for creating me AS YORUBA. Every other thing about Yoruba is always about doing the unthinkable. whatever, is the cause in Yoruba's cell which always inspire us to set a new record is golden to BEHOLD. Once again, another Yoruba man , Demola, the pilot, has done us proud by also flying around the world in a solo effort. God bless him for setting this record. There are more coming. Yoruba Race is BLESSED FOREVER.

Olu317:
I truly believe in Yoruba common wealth but the so called leaders have gone the Nigeria's way i.e corruption and self centeredness. I so much wish they indeed understood the purpose of the great Legend in the person of late Chief Obafemi awolowo and his expectations. Perhaps we would have been far from the stagnant position we found ourselves today. God bless The YORUBA Race.

MrMaestro:
I agree. He was a visionary. There are some people who are trying to push us forward though. Ambode is the only one with a passion for Yoruba greatness and greatness now.

MrMaestro:
I agree. We need to create better leaders that can compete for office. First and foremost though we need to start doubling down on our language in the region. It's eroding in the younger generation.

BermudaTriangle:
Please omo Oodua, what are we doing about Oduduwa Republic ? We surely cannot continue in this contraption called Nigeria if we really love ourselves and our generations to come.

MrMaestro:
I believe we can. Ogun receives 70% of foreign direct investment. Osun is developing, Lagos is continuing to develop, and DAWN (Development Agenda for Western Nigeria) is working. We don't have much to complain about. But if Nigeria we to split we'd probably be the biggest beneficiaries.