Swiych,

S008: How I Started BudgIT – with Seun Onigbinde

September 14, 2016
Seun Onigbinde

S008: How I Started BudgIT – with Seun Onigbinde

BudgIT Founder, Seun Onigbinde, was stuck as an executive at First Bank for three years. In the light of this, he started looking for a way out. He got his opportunity when his startup idea came second in a hackathon organized at the Co Creation Hub, Lagos, and has not looked back since then. Seun shares in this episode how he came to meet his cofounder, Joseph and how they both built BudgIT to where it is today.

In this episode, you will learn

  • how the idea for a data visualization platform for budget and public data (which we know now as BudgIT) came about,
  • how he met his partner, Joseph  Agunbiade,
  • how the name “BudgIT” came up,
  • how they raised over 2 million dollars to fund their startup,
  • what BudgIT has accomplished so far, and
  • the most discouraging and encouraging feed backs he has gotten so far.

About BudgIT

BudgIT is a civic organization that uses technology to ensure transparency and accountability in government spending. It now has over 2000 unique data requests from private, corporate and development entities/individuals.

Because of this, BudgIT is now widely regarded as a trusted hub for public finance data in Nigeria. Consequently, Forbes listed it as one of the top five exciting startups to watch out for in 2013.

BudgIT
BudgIT, Lagos, Nigeria (Photocredit: techpoint.ng)

The Problem BudgIT Solves

Many people are critical of governance in Nigeria and a host of other African countries. However, there have been little or no data to back up many claims despite the continued public cry. BudgIT Founder, Seun Onigbinde, shares in this podcast, how his social venture provides this information using infograhs. This information includes government financials such as budgets, expenditures, etc.

In Conclusion,

There are many reasons why you should listen to the words of BudgIT Founder, Seun Onigbinde. But worthy of note in this podcast is how he has used both constructive and negative feedbacks to grow stronger. Also Listen to this podcast with Seun Onigbinde, to learn what new steps BudgIT is taking to ensure sustainability.

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About Swiych

Swiych is Podlobe’s interview based channel focused on bringing you entrepreneurs, business owners, and enthusiasts, whose experience you can learn from. Hosted by Samuel Adeoye (a.k.a Se7en), Swiych is a 10-15 minute weekly podcast show.



Today's Guest

BudgIT founder, Seun Onigbinde reveals the story behind the success of his startup. Seun left his job as an executive of First Bank to start his social enterprise, BudgIT. Seun Onigbinde graduated as an Electrical Engineer from the University of Agriculture, Abeokuta before proceeding to the Graduate School of Business, Standford University. Onigbinde is an Ashoka Fellow and has won several renowned awards.

Episode Takeaways

In this episode, you will learn

  • how the idea for a data visualization platform for budget and public data (which we know now as BudgIT) came about,
  • how he met his partner, Joseph  Agunbiade,
  • how the name “BudgIT” came up,
  • how they raised over 2 million dollars to fund their startup,
  • what BudgIT has accomplished so far, and
  • the most discouraging and encouraging feed backs he has gotten so far.

Bonus Track

Bonus Tracks are short cuts (1 to 5 mins long) from our interview with guest that are not included in the main podcast. We find them useful, but cannot include them in the main podcast because of our show length policy.

CHALLENGES BUDGIT FACES

Resources

  • Nukak Asanansi

    Great interview. @Se7en (Samuel Adeoye) I love the questions asked – about most discouraging comments and most encouraging. Truly sets expectations for entrepreneurs and those aspiring. Great initiative Podlobe. Your vision is a necessity for the country. Great things ahead for you guys.

    • Hello Nukak, thanks for time time out to drop a comment. Sometimes listening to other people share their experience startup inspires confidence in us. Mr Seun onces shared this that BudgIT first infograph had 0 likes 0 comments 0 shares in the beginning. That has changed now! That is inspiring for people who measure their worth by other people’s acts. Thank you once again, is there is anything we can improve on?

  • Inyon Festus-Kator

    Good job. To the Podlobe team. I am really inspired by your thought provoking style of questioning. I am moved to ask did you study any communications related course Samuel Adeoye? Anyway that’s by the way. And BudgIT is just 5years hmmm interesting.

    • Hello Festus, thank you so much for your kind words. Lol, had C5 in WAEC’s English and still struggle with spellings at times till date. I love Art, but too introverted for expression lol… I study Civil Engineering. But my friend, when you see a need that gives you sleepless nights, your background or your lack of qualification or skills are not strong enough to hold you down. I am learning and I strive to be better sir.

      Thank you once again for taking time out to drop a comment (especially in a part of the world where we rarely comment).

  • Seun’s story is one that can inspire persons who are passionate about creating positive change in Nigeria. I’ve known BudgIT for some time, and truly appreciate the effort they are making to fill gaps in the Nigerian governance data space. Through their work, they are helping to engage Nigerians and engender knowledgeable discussions about governance in Nigeria. I think that is worth celebrating. Happy Anniversary BudgIT

    • Hello Jonah, I was at their 5th year anniversary Symposium on Thursday; I saw an organization, a startup, driven by a cause.

      “When you rise for a cause, the universe will conspire to give you what you need to succeed”

      Those words were in flesh at the event. With ccHub, TEEP, Obiageli Ezekwesili, MacArthur Foundation, Osinwa,Omidiyar Network and numerous others evidently and actively supporting BudgIT. Its just 5 years (a lot in the startup world in Nigeria) but it has only just begun and I am honoured we had the opportunity to speak with him.

  • Kofo

    Great job, Samuel and the entire podlobe team! Very inspiring and thought provoking.
    I thoroughly enjoyed every second.

  • Kofo

    Great job, Samuel and the entire podlobe team! Very inspiring and thought provoking.
    Keep it up!

  • Ife Akande

    Very Inspiring Session. Learnt a lot from this. Thank God we have people like Seun Onigbinde that we entrepreneurs can learn from. Really,everyone must learn to take risks. Thanks for the inspiring knowledge. Kudos to Sam and his team

  • Omoloro Fasuyi

    Good Job guys! I really need to say that i enjoy everything about the podcasts. Especially the fact thatchy are so concise. You ask very useful questions and sometimes i wonder if its that you ask the people being interviewed to talk generally at first, and then you put in your questions based on the important points they make, but then i realised thats not true. You and your team are just really good at what you do. I’m really glad i took out the time to listen to the podcasts. Also, its so great how you get really inspiring people to come and speak. Really proud of you Sam! Good job Podlobe!

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