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EDC, eTranzact Highlights AI Readiness of Nigeria SMEs

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EDC eTranzact research

By Modupe Gbadeyanka

A new report showing how small businesses in Nigeria are adopting Artificial Intelligence (AI) to scale up their operations has been released by the Enterprise Development Centre (EDC) of the Pan-Atlantic University in partnership with eTranzact International Plc.

The survey, titled Artificial Intelligence Readiness of Nigeria SMEs, explored where businesses in the Nigerian Small and Medium Enterprises (SMEs) currently stand on the AI journey, including their readiness, their hurdles, and the incredible opportunities ahead.

It also made some recommendations, including tasking the government to prioritise and invest in locally relevant AI solutions, and also focus on affordable tools for SMEs.

The report called for the promotion of indigenous AI tools that are culturally sensitive and linguistically accessible, and recommended the development of AI –friendly policies, including tax incentives, simplified regulations, and data privacy safeguard.

The private sector was also charged to develop and offer affordable, user-friendly AI solutions tailored to SME needs and invest in AI skill training and capacity building through partnership and educational programmes.

At the unveiling of the study in Lagos, the Director of Programs and Partnerships at EDC, Dr Olawale Anifowose, said, “The AI readiness study reveals both challenges and opportunities, while awareness of AI technologies is growing, especially in information and communication technology (ICT) and creative sectors, overall adoption remain low, particularly in agriculture and fashion.”

“SMEs are drawn to affordable and user-friendly AI tools like Google, Maps, ChatGPT, and Google Assistant, but face significant barriers, including high implement costs, inadequate infrastructure and lack of technical expertise.

“Lack of local adaptation and acceptance, data privacy concerns and the absence of a supportive regulatory framework further hinder AI adoption,” he added.

He said, “At the EDC, Pan-Atlantic University, we’ve always championed the growth and resilience of SMEs. They are not just business- they are builders of livelihood, innovators, and job creators. And we believe that embracing emerging technologies like AI is no longer optional; it is essential.”

On his part, the chief executive of eTranzact, Mr Niyi Toluwalope, said, “As a superfintech enabling inclusive growth in Nigeria, we recognise the vital role SMEs play in driving economic development, employment, and innovation.”

“What emerged from the study is clear, while there is strong enthusiasm for AI-powered solutions, there is still a gap in awareness, access and contextual relevance.

‘The insight from this report offer a timely compass for policymakers, financial service providers, innovators, and SME leaders seeking to design the next ear of inclusive digital tools for Nigeria’s mostly informal SME sector,” he added.

At eTranzact, he said, “This is a not a research, it is a call to action. It affirms our resolve to co-create with the ecosystem, deploy intelligent solutions tailored for real-world business challenges, and continue investing in technologies and solutions that empower SMEs and businesses every day.”

It was learned that the study adopted a mixed-method research approach, involving the use of both quantitative and qualitative data collection and analysis methods. The quantitative approach was implemented through a sample survey of SMEs with 5,290 responses across 36 states of the federation, including the Federal Capital Territory (FCT).

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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IFMA Nigeria Gets Branch in Oyo, Picks Adejumo Olusola Babatunde as Coordinator

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IFMA Nigeria Oyo branch

By Modupe Gbadeyanka

A new branch of the International Facility Management Association (IFMA) Nigeria Chapter has been established in Oyo State, with Mr Adejumo Olusola Babatunde chosen as Coordinator.

The organisation set up an arm in the South-West state in a bid to expand its footprint in the country. Mr Babatunde will be assisted by other executive committee members, including Mr Ajiboye Olusola Akeem as Secretary, and Mrs Adeniran Olaide as Treasurer.

At the inauguration of the branch at the Nigerian Society of Engineers (NSE) Secretariat in the Akobo area of Ibadan, the Oyo State capital, the president of IFMA Nigeria, Mr Sheriff Daramola, expressed delight at the successful inauguration of the branch and commended members for their commitment to the growth of facility management in Nigeria.

He highlighted IFMA’s global heritage, noting that the association is supporting over 25,000 members in more than 140 countries worldwide. Mr Daramola emphasised IFMA’s strong global network, the world’s largest and most widely recognised association for facility management professionals, headquartered in the United States and its growing influence in Africa, the Middle East and Europe.

“IFMA members have taken positions of authority across federal, state, and private institutions; IFMA Nigeria is positioned to ensure our professionals are the first choice for global investors entering the Nigerian market,” he stated.

The Legal Adviser of IFMA, Nigeria, Mr Sola Fatoki, who shared this sentiment, said, “Since 1997, when IFMA Nigeria was established, the association has equipped facility management professionals with integrated knowledge spanning human behaviour, infrastructure, and the built environment.”

He encouraged engineers, architects, surveyors, ITC, Technology innovators, data analysts and allied professionals to see IFMA as their professional home and outlined the functions and responsibilities of branch executive committees.

In his remarks, Mr Babatunde expressed gratitude to the national council for the opportunity to serve and pledged to ensure the success of the branch, focusing on unity and the professional advancement of stakeholders in the region.

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We Didn’t Recommend Ceding Disputed Oil Wells to States—RMAFC

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RMAFC

By Adedapo Adesanya

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has denied reports that some disputed crude oil and gas wells have been recommended for ceding to specific oil-producing states.

In a statement issued on Sunday, the chairman of the commission, Mr Mohammed Shehu, said the attention of RMAFC had been drawn to a “purported report allegedly issued by the Inter-Agency Committee on the Verification of Coordinates of Disputed Crude Oil and Gas Wells between States,” which was circulating in sections of the national media (excluding Business Post).

The agency described the report as “misleading, premature, and does not represent the position or conclusions of the Commission.”

“At this stage, there is no finalised recommendation or decision regarding the ceding or reallocation of any oil wells, as due institutional processes are still ongoing,” the statement read.

The organisation explained that it operates a clearly defined and transparent procedure in handling assignments of national significance, stressing that the process on the disputed oil wells had not been concluded.

It disclosed that it only received a draft report from the Federal Government’s Inter-Agency Committee on Nigeria’s Oil-Producing States on Friday, February 13, 2026, which reportedly projected Cross River State as an oil-producing state.

The report, covering the nationwide 2017–2025 verification of crude oil and gas coordinates, was presented to the Chairman of RMAFC by 10 of the 14 members of the committee.

The exercise, which ran from August 2025 to February 2026, involved extensive field verification, technical reconciliation of state submissions, and a final plenary plotting of coordinates at RMAFC headquarters between January 24 and 31, 2026.

“Consistent with established protocol, the draft document has been transmitted to relevant technical and statutory stakeholders, namely the Nigerian Upstream Petroleum Regulatory Commission, the National Boundary Commission, and the Office of the Surveyor General of the Federation, for detailed review, observations, and technical input,” the commission stated.

According to the statement, after the observations and recommendations of the agencies are received, the matter will be subjected to further scrutiny by the commission’s internal tripartite committees, comprising the Committee on Crude Oil, Gas and Investment and the Legal Matters Committee.

“These committees will undertake comprehensive technical and legal reviews before presenting their findings to the Plenary Session of RMAFC for deliberation and final recommendations,” it added.

The commission further explained that upon completion of the institutional processes, its final report would be formally transmitted to the President and the Attorney-General of the Federation for necessary consideration and further action in line with applicable laws and constitutional provisions.

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Social Media Platform X Suffers Outages Globally

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X Twitter

By Adedapo Adesanya

Social media platform, X, formerly known as Twitter, suffered an outage globally on Monday as millions of users could not use the service.

The widespread outages have been reported by thousands of users across several countries, including Nigeria, the United States, the United Kingdom, Turkey, and India, among others.

According to data from Downdetector, a website that tracks service disruptions based on user reports, complaints about access to X started to pick up around 1:00 p.m. local time in Nigeria.

The cause of the outage was not immediately clear, and X has not put out any comment, but users told Business Post that the platform is not loading or cannot be reached, and the pattern of complaints suggests the issue is not limited to a single region.

Its developer platform status page stated “all systems are operational” all morning despite the reports.

The outage is the latest to hit internet services. X suffered a similar outage in March 2025, while a Cloudflare service outage caused access problems and downtime for various websites, including X, last November.

Microsoft’s Azure had also faced an issue last year, while disruption at Amazon AWS caused global turmoil among thousands of websites and some of the most popular apps, such as Snapchat and Reddit in October

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