Rock Results Group, NUGI Technologies move to curb capital flight …Sign MoU
Worried by the worsening spate of capital flight, especially through technology importation, two Nigerian firms; Rock Results Group and NUGI Technologies Limited have entered into a strategic partnership with a view to developing technology solutions that will meet the needs of all sectors of the nation’s economy.
While Rock Results Group is a leading construction and Civil Engineering conglomerate, NUGI Technologies Limited, is an Information Communication Technology ICT Solutions giant.
Under the partnership consummated in Lagos, both firms have signed a Memorandum of Understanding MoU in which they would be deploying technological solutions in the transport, banking, agriculture, education and utilities sectors, with a view to ending technology importation, through which the country loses millions of dollars annually.
Speaking during the brief signing ceremony, President/CEO of the Rock Results Group, Mr. Ifeanyi Okorie, said the two companies decided to go into the partnership for the advancement of information technology and innovations in Nigeria and Africa.
According to him, Rock Results Group, which had created massive growth in the construction of oil and gas sectors, recently found a new vision in diversifying its investment portfolio into providing solutions in the ICT sector.
He said: “Our partnership with NUGI Technologies is strategically pivoting our movement into the tech space in Africa. This partnership is strategic to both companies, the government and society as a whole, as we seek to create a solution that will impact our community and the nation.
“Our ecosystem comes with the capacity of creating thousands of jobs beginning from here in Nigeria in few months. Our focus in this partnership is to create value for everyone and to use technology to make a positive impact in Africa and beyond.”
Also speaking at the event, the Chief Executive Officer of NUGI Technologies, Mr. Ugi Augustine Ugi, said the two companies have come together to bring technology back home and end the annual spending on technology importation. According to him, the partnership will be saving Nigeria millions of dollars every year as all the technological solutions being imported will be delivered within Nigeria.
On the company’s solutions that attracted the partner, Mr. Augustine said NUGI Technologies has been operating for five years and has been impacting the economy positively, deploying solutions in hospitals, schools and government’s institutions to block revenue leakages.
Citing an example of how the company has been using technological solutions to help institutions block revenue leakages, Mr. Ugi said the Cross River State University of Technology (CRUTECH) and a federal parastatal in the aviation sector were some of the institutions that have benefited from the company’s expertise.
“The school was always going on strike due to lack of payment of salaries. And we told them, don’t pay us for one year, let us work. We deployed our solutions and we helped the school generate enough revenue within one year such that there was no strike again. Between 2017 and 2020, we generated N5 billion for the school. The statistics are there,” he said.
While speaking on the partnership, Mr Ugi said: “Since both companies are experienced at what we do, our coming together is strategic because Rock Results has been in business for more years than NUGI Technologies. When you bring experiences and expertise together, you get the best result, which is what we are doing.”
Ugi also assured that the partnership is beyond Nigeria, as it is targeted at ensuring that customer-centric ICT solutions are provided not only across the Africa Continent but also across the world.