VP’s Remarks At Launch Of Startup Nigeria

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REMARKS BY HIS EXCELLENCY, PROF. YEMI OSINBAJO, SAN, GCON AT THE LAUNCH OF START-UP IN NIGERIA, ABUJA ON THE 28TH OF MAY, 2018.

Thank you very much everyone, I am really excited to be here.

I have seen a lot already just by going around and looking at what is happening here.

I think that first, there is a revolution that has gone on completely unnoticed in this country and it is really incredible that so much has happened, but we almost missed it for very long.

But some of us have somehow put our heads to the ground by sort of following a bit of what has been developing; a bit of what has been happening.

But even my following, I see that it has been very small indeed. I just simply have missed out on all that is going on and there is so much that is going on.

It is incredible, just even being here today, I have come across so many different innovations, so many creative ideas, I just listened to three here today.

I mean that it is simply incredible that all of these things are happening. From the “P-farmer” and “Policy Engine”. I mean that really is actually something else, also the forensic man who listens in on conversations concerning Boko Haram and Herdsmen, I think a lot of this work is very important and there is a need not just to encourage those who are working now, who have all these ideas, but for the other eight thousand odd people who and several others, who are out there.

I think maybe the bar is too high you know maybe it because obviously would we can’t deal with everyone but perhaps, there is a need for us to lower the bar a bit so that we can include more people and you know that would, of course, involve perhaps putting up a bit more resources.

But it is very important that we bring in as many people as possible, ideas that may not necessarily have been worked on with a kind of diligence or competence that some have, but I’m sure they can be encouraged.

One of the things we are trying to do as government is to set up what is called the Creativity and Technology Council.

We already have an Industrial and Competitiveness Council where the likes of Dangote; you know the big businesses already advise on policy. So, in the Industrial and Competitiveness Council, I have the privilege of chairing that council and what happens there is that we have several of the businesses, we have those who are in manufacturing, those who are professionals, even some who are in technology but not creative, not innovators or startups, or anything like that. So, we have people who are already established with many of these different areas.

And what we try to do with them (because we meet fairly regularly) is to develop policy. They can tell us what their challenges, they repeat so many of the problems that they experience. We are able to work on pioneers’ status. The kinds of things that mostly big businesses are concerned about and we have done a bit of work on that.

We have shaped a lot of policies working with these individuals who actually have practical problems.

But what we are trying to do now, is to set up a Creativity and Technology Advisory Council as well, which is one that will take on people like yourselves, who are startups who encourage start-ups and also people in the creative arts and all of the people in entertainment.

Now, what we intend to do is also to shape policy because some of the policies that need to make this environment friendly and make this environment more interesting for those who are in innovation, have to be developed by those who are actually doing the work.

Since today we are talking about payment systems and difficulties people have with making payments using dollar cards or using Nigerian cards, these are very peculiar issues, peculiar problems and unless somebody who is actually involved in this sits round a table with policy makers, sits round a table with the Minister of Finance, the CBN Governor, with the Minister of Industry, Trade and Investment, and is able to say this is what the problem is and then we can resolve it easily at these kinds of meetings. So, we’re looking forward to doing that.

We have been planning this for a very short while now, I think we will have the meeting that will try to bring on board, people who we think will be helpful in shaping this process. I’m sure one or two of us will be involved in that.

But within a couple of weeks, we should have that council set up so that we can start thinking and talking about the businesses.

Having said so, I think that when you look at funding for startups, some people are doing very good work. Tony Elumelu, for instance, is doing some very interesting work and I think that’s very good. But we must develop more activities around the public sector.

I think the problem with public sector funding is actually being able to define the scope of these things. I think that a lot of help is going to come from you all, come from businesses like yours, who already have an idea on how these things are done.

Public sector tends to probably have more money, but also very little experience and can just do something that is big and grand or don’t get to the depths that it ought to or to the people that it ought to get to.

So, we are going to have to work together to make this make sense.

And I am sure that with our social investment policy for that new technology policy, we should be able to get more people on board, more startups doing interesting things.

I am absolutely convinced that the future is right here with us and you guys represent that and frankly, I know that you know that where this country is headed is really a great place. Every single day I see that there’s so much innovation, so much creativity, so much energy. The country is really moving forward in leaps and bounds.

We have been talking about agricultural policy for a while and putting a lot of investment behind agriculture as a government. But listening to ThriveAgric today, you know these guys are doing incredibly creative work in agriculture.

So, today, they are working with about 5,000 farms and what they are doing is really the kind of micro-managing that is impossible to do without technology.

So, they are able to tell these people about the weather, they are able to tell them that it would rain in two days’ time or rain tomorrow and all of that, so don’t go and put your fertilizer in the soil yet and all sorts of very micro-hype advice.  And, this is obviously showing incredible result.

Asides from that, those of us who don’t want to go near a farm but like to make money from farming, can actually sit down and invest our money. So, their type of funding activities is just incredibly innovative.

And I am sure that by the time you have the kind of growth that they are looking forward to, there’s just going to be some really great improvement in not just agricultural methods, but also in investment in agriculture. So much money is going to go into agriculture.

I think that the field is wide open, so much is up there to be done, so much is it waiting to happen.

I am very excited and I wish I were your age, I think that I would be a lot more successful as an individual if I had all of this technology.

But just to say that I am really proud of what I see here and am greatly encouraged. I also want to say that you can be sure that we have your back and we’re going to be looking at how to help you in every way.

Thank you very much.