Economy
How storytelling can support you pitch to investors
By Emmanuel Otori
There are a number of reasons a business needs investments, these investments could be in the pre-seed, Series A or B and regardless of whatever stage the business is operating, the major reason for seeking investor’s funding is usually for expansion purposes. This expansion could be in the line of products or the need to serve more customers in their growing numbers due to exponential demands in other regions.
Why Storytelling?
Storytelling has been found to be an underlying magic when pitching to investors and while I suggest that the stories should be genuine and linked to why a business eventually took off because the founder was trying to solve a challenge, it also has to be told with clarity and does not negate the fact that Primary Market Research (PMR) should have been done to ascertain that there is a good number of prospective customers that are in need of such solutions, to justify not just based on assumption that it is needed by one person, then there might be a market.
Supporting Start-up Founders With Their Pitch Deck
I had the opportunity to mentor 10 Nigerian start-ups to be attending GITEX in Dubai where they would have the opportunity to pitch their ideas to investors. I worked alongside with the Nigerian Information Technology Development Agency (NITDA) to help structure their pitch decks to meet up to the acceptable standards
The Pitch Structure
The pitch deck structure while different in the pieces put together as template by different organizations, still has the most essential ingredients in similarity to answer the questions in the minds of investors
These items in a pitch deck should be on each slide
1. Cover Page
The cover page is a basic design that captures what the organization does. Usually the logo of the organization and the byline which serves as their value proposition to clients. The cover page should be very simple in design and text.
2. Introduction
The introduction slide focuses on what introduced the problems and solution; It is the executive summary of what is to be expressed in the rest of the pitch desk. All the parts in a pitch deck should follow a simple rule “less is more”. The Pitch deck should have very limited words and portrays clarity.
3. Problems
State the problems in very few sentences to capture what represents the current state of affairs as the challenges is concerned, bullet-points can also be used. Stating between 1-3 problems would serve this purpose.
4. Solutions
The solution slides need to state the functions of your product or service as it addresses the problems you have stated. Try not to get into mentioning features as what is important here is how your product will benefit customers.
5. Product Demo
If you are making a physical presentation, your product demo should be in a video of 30 seconds or less about how your product or service functions to provide the solution. If you do not have a video, then a pictorial view of images can also be used to represent this.
6. Market Size
There are two approaches which are the top down or bottom up approaches. The top down approach is to find out the size of the market and how much of that size you think you can capture. I think the top down helps to be more realistic as what you hope to capture can either be expressed in years or in the lifetime of the business.
7. Business Model
What would your business model be? Are your products going to sell for a particular price, would it be one that customers have to subscribe weekly, monthly or daily? This is what your business model represents. Some social media platform runs on a fermium model where users do not pay to use such platforms; however the platform then makes money from advertisers wanting to gain visibility from these number of users for their products or services.
8. Competition
List your competitors whether they are direct or indirect and mention how you are better than them. For example, the indirect competitor for carbonated drink is water and most bottling companies have succeeded in making their products a unique alternative to water by serving a refreshing taste. Mention here where makes you stand out.
9. Go-to-Market
When you launch a new product, it is necessary that a market plan exists; it helps to answer the question of how you would acquire customers. What steps are you going to take for customers to engage you? Would you have direct markets, use radio or television, social media, sponsored adverts, print etc to reach out to your targets.
10. Team
Your team information should display competence. Most start-ups have the product developer and the marketing officer. This can be seen in the likes of companies like Apple where Steve Jobs is the Chief Marketing Officer with communication prowess and ability to get customers to buy while Steve Wozniack was the developer. 2-3 team members can be the founder or co-founder and launch the start-up and add other team members as the organization grows.
11. Milestones
Investors only want to make a contribution because they look forward to returns on their investment (RoI), no investor is your friend. Here is the section to show you already have traction in the form of partnerships, number of downloads and most importantly that you generate consistent cash flow and serving a good number of customers
12. Fundraising Information
How much funding would you need and in what ways are you going to apply the funding you get and what this funding injection would generate within a specific timeframe. These are question you want to answer in this slide. Funding is usually needed for operational costs such as rent, staff salaries, and acquisition of office equipment, licenses or certifications and many more depending on the needs at the moment.
While receiving funding for your business is a great move, it can also lead to the death of start-ups as initial exposure to huge funding without experience or ability to have managed such funding could lead to instant gratification and reason why some start-ups have raised funding but are not profitable.
I suggest that a business proves through their financial statement to be profitable enough before seeking for funding in order to grow a sustainable business model.
Emmanuel Otori has over 9 years of experience working with 100 start-ups and SMEs across Nigeria. He has worked on the Growth and Employment (GEM) Project of the World Bank, Consulted for businesses at the Abuja Enterprise Agency, Novustack, Splitspot and NITDA.
He is the Chief Executive Officer at Abuja Data School.
A total sum of N1.678 trillion, being February 2025 Federation Account Revenue, has been shared to the Federal Government, States and the Local Government Councils.
The revenue was shared at the March 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja; chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
The meeting was attended by the Accountant General of the Federation, Shamseldeen Ogunjimi.
The total distributable revenue of N1.678 trillion comprised distributable statutory revenue of N827.633 billion, distributable Value Added Tax (VAT) revenue of N 609.430 billion, Electronic Money Transfer Levy (EMTL) revenue of N35.171 billion, Solid Minerals revenue of N28.218 billion and Augmentation of N178 billion.
According to a communiqué issued by the Federation Account Allocation Committee (FAAC), total gross revenue of N2.344 trillion was available in the month of February 2025. Total deduction for cost of collection was N89.092 billion while total transfers, interventions, refunds and savings was N577.097 billion.
The communiqué stated that gross statutory revenue of N1.653 trillion was received for the month of February 2025. This was lower than the sum of N1.848 trillion received in the month of January 2025 by N194.664 billion.
Gross revenue of N654.456 billion was available from the Value Added Tax (VAT) in February 2025. This was lower than the N771.886 billion available in the month of January 2025 by N117.430 billion.
The communiqué stated that from the total distributable revenue of N1.678 trillion, the Federal Government received total sum of N569.656 billion and the State Governments received total sum of N562.195 billion.
The Local Government Councils received total sum of N410.559 billion and a total sum of N136.042 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
On the N827.633 billion distributable statutory revenue, the communiqué stated that the Federal Government received N366.262 billion and the State Governments received N185.773 billion.
The Local Government Councils received N143.223 billion and the sum of N132.374 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
From the N609.430 billion distributable Value Added Tax (VAT) revenue, the Federal Government received N91.415 billion, the State Governments received N304.715 billion and the Local Government Councils received N213.301 billion.
A total sum of N5.276 billion was received by the Federal Government from the N35.171 billion Electronic Money Transfer Levy (EMTL). The State Governments received N17.585 billion and the Local Government Councils received N12.310 billion.
From the N28.218 billion Solid Minerals revenue, the Federal Government received N12.933 billion and the State Governments received N6.560 billion.
The Local Government Councils received N5.057 billion and a total sum of N3.668 billion (13% of mineral revenue) was shared to the benefiting States as derivation revenue.
The Augmentation of N178 billion was shared as follows: Federal Government received N93.770 billion, the State Governments received N47.562 billion and the Local Government Councils received N36.668 billion.
In February 2025, Oil and Gas Royalty and Electronic Money Transfer Levy (EMTL), increased significantly while Value Added Tax (VAT), Petroleum Profit Tax (PPT), Companies Income Tax (CIT), Excise Duty, Import Duty and CET Levies recorded decreases.
Economy
Protesters urge president Tinubu to protect Diaspora housing investments along Lagos-Calabar coastal highway
A group under the aegis of Renewed Hope Concern Citizens (RHCC) on Friday staged a peaceful protest, calling for President Bola Tinubu’s intervention in protecting housing investments owned by Nigerians in the diaspora along the Lagos-Calabar coastal highway.
The protesters gathered in front of the United States Embassy in Abuja, carrying banners with inscriptions such as; Minister of Works, Senator Umahi should revert to the original gazetted alignment as promised. Enough is Enough; Association of Nigerian Diaspora Investors (ANDI) has cried enough, please intervene to save their energy to promote, support, and assist the Renewed Hope Administration; Renewed Hope Concern Citizens want Diaspora Investments to be protected and given adequate attention among others
“As committed stakeholders in the nation’s economic progress, we have consistently supported the government’s vision, particularly in revitalizing Nigeria’s infrastructure and energy sector. While we acknowledge the administration’s positive strides, recent developments have raised concerns about the misalignment of energy policies, particularly regarding the 2006 Gazetted alignment.
“We urgently call on the Minister of Works, Senator David Umahi, to restore the 2006 Gazetted alignment to ensure continued growth and stability in Nigeria’s energy sector,” said Hon. Tayo Agbaje, Chairman of RHCC, while addressing journalists.
The group refuted the Minister’s claim that an underground cable warranted the removal of structures in Okun Ajah, Lagos and outlined several reasons why President Tinubu’s intervention is crucial.
According to them, The 2006 Gazetted alignment has long provided a stable and predictable framework, essential for maintaining investor confidence in Nigeria’s energy sector.
“Diaspora investors contribute significantly to job creation, business growth, and the overall economy, making their protection vital to sustaining these contributions.
“The President should investigate the Minister of Works’ claim about the underground cable allegedly interfering with the 2006 Gazetted plan.
“Restoring the alignment will reinforce Nigeria’s commitment to a stable investment climate, boosting foreign investor confidence and attracting much-needed capital for infrastructure development.
“Deviating from established policies creates uncertainty, undermining both current and future foreign investments.
“Maintaining the 2006 Gazetted alignment will signal Nigeria’s dedication to long-term economic stability, further reassuring both local and international investors,” the group stated.
The RHCC reaffirmed its support for the Association of Nigeria in Diaspora Investments (ANDI) in its quest to uphold the 2006 Gazetted alignment plan of the Lagos-Calabar Coastal Highway.
They urged the government to act swiftly to protect diaspora investors, as this will strengthen Nigeria’s investment future and ensure continued economic success under the Renewed Hope Administration.
Economy
Ogunjimi promises to collaborate with ex-Accountants-General in taking treasury house to greater heights
The newly appointed Accountant General
of the Federation, Mr Shamseldeen B. Ogunjimi said he would collaborate and tap from the wealth of experiences of all Former Accountants -General of the Federation to bring the nation treasury to a greater height.
Mr Ogunjimi disclosed this while receiving two Former Accountants-General of the Federation, Dr John Naiyeju and Dr Ibrahim Dankwambo in his office in Abuja.
Speaking earlier, Senator Ibrahim Dankwambo suggested the upgrading of the Treasury Academy, Orozo owned by the Office of the Accountant-General of the Federation (OAGF) to a Degree (University) awarding Institute.
Also, Dr. John K. Naiyeju charged the new Accountant-General to carry along everyone and advised him to make staff welfare his priority.
In a related development, the Accountant-General of the Federation expressed his willingness to work with all professional organisation that will bring positive development to the nation, especially, his professional and Academy colleagues of the doctorate class.
Mr Ogunjimi called on his classmates to come up with ideas and suggestions that will enhance the management of the nation’s treasury that will positively affect the economy development.
In his remarks, the Chairman Forum of Doctorate Students, Ibrahim Aliyu said that they were in Treasury House to congratulate one of their own and assured him of their support towards his successful tenure.
-
News6 days agoBill to establish National Cashew Production and Research Institute in Kogi passes first reading in Senate
-
Politics1 week agoCPDPL accuses Adeyanju of orchestrating smear campaign against FCT Minister Wike
-
News6 days agoReport of attack on Wike’s Port Harcourt residence false, misleading – Police
-
News6 days agoShehu Sani debunks Governor Uba Sani’s alleged diversion of LG funds, challenges El-Rufai to publicly tender evidence
-
News5 days agoPlateau gov’t expresses concern over violence in Shendam LGA, calls for calm
-
Sports7 days agoMerino gives Arsenal win over Chelsea
-
Interview6 days agoSenators Natasha-Akpabio saga should have been resolved privately – Rev. Mrs Emeribe
-
Politics3 days agoOpposition leaders announce coalition to challenge Tinubu in 2027