Technology
Full Text of Prof Osinbajo’s Speech at Google for Nigeria Event
I am delighted to be to be here with you today at this year’s Google for Nigeria event. Just couple weeks back, it was a special pleasure to be welcomed to the Googleplex by Google CEO, Sundar Pichai and his great management team. We all have very warm memories of that visit, and I am truly grateful for your kindness and warm hospitality.
About three months ago, I spoke at an event at the Warwick University on the subject “The African Century.” The substance of that speech was that this century is Africa’s century. Why? Because Africa will, for good or ill, play the defining role in global development. Africa’s fortunes will matter across all the trends shaping the world. I say for good or for ill because either scenario is possible. If Africa fails on these important development issues, because of our sheer size, the global impact will be catastrophic and if it succeeds the global impact will be incredible.
In at least four important respects, Africa will hold the balance of world development. First is in world population (demography). Second is environment and climate change. Third is productivity. Fourth is social exclusion (or inclusion as the case may be) and its implications for global security.
Let’s take population, by 2035, Africa will have 1.2 billion people. Nigeria is Africa most populous country; she will become the 4th most populous nation in the world. Over 50% of that number will be young persons under the age of 25. Today, 60 percent of the unemployed in Africa are young people. If we do not change the trajectory of socio-economic development, we would have millions of jobless young people in the prime of their lives, and as we will see, largely illiterate and /or poorly trained. The workforce will be ill-equipped to man any industrial revolution or take advantage on scale of technology. The anger, disillusionment, and hopelessness of these young people will drive social unrest, compel more desperate migration northwards and present a fertile recruiting ground for extremist groups. If social conditions remain tenuous, even the well-educated will be tempted into migration and contribute further to the brain drain.
How about the environment and climate change? So, it is generally agreed that although Africa has contributed least to global warming, it is and will suffer most from its consequences. Indeed, we are already seeing extreme weather events such as flash floods, drought, and desertification.
So to cut a long story short, Africa is confronted with existential challenges, and there is simply no time to waste in resolving these problems. The answer that providence has given us is technology. The great purveyors of technology such as our hosts today Google, and their collaborators – 21st century Technologies Limited and Backbone Connectivity Network (BCN), are not mere corporations in search of profit and some social good, they literarily hold the future of generations of humanity in their hands.
In Nigeria, we cannot train our nearly 200 million young people by 2045, in classrooms alone. It is impossible! We must use the internet and even mobile telephony. We must connect our young people to knowledge and innovation all over the world. Co-creation efforts of innovators and inventors require broadband to be consummated.
So without connectivity, the development trajectory of our nation and continent is truncated. Today, it is also becoming increasingly clear that the availability of food and healthcare for the huge numbers of our people will depend on how democratized the technology becomes. We simply cannot provide enough food, drugs or vaccines in Africa without the availability of innovation in agriculture, and technology in farming and the production of drugs and vaccines. So democratizing Artificial Intelligence as we heard Marvin Chow, Google’s VP Product Marketing, describe in agriculture and the medical sciences, will change the human development story.
Indeed every step that is taken to democratize technology is a quantum leap in the African development story and a major contribution to Global stability and growth. This is why the launch of Google Station here in Nigeria, is an enormously significant event.
First, it means that Google and 21st Century, will be providing free WiFi access in several public spaces in Nigeria, more exciting is that several of our markets will benefit from this free internet access.
This partnership is particularly important to us, because we have in the past one year, in our energizing markets project, been providing solar power to markets and economic clusters across the country. We have done extensive work in Ariaria market in Aba, Sabongari in Kano, Gbagi market in Ibadan, Sura here in Lagos, and we are starting out in Iponri, and Balogun markets.
But the most profound implication is that internet access is becoming available to some of the poorest in society. What access to information, tools of education, business or commerce means is that gaps of inequality and exclusion are bridged. Jobs are created and in many important respects, there is a real chance of better quality of life for large numbers of our people.
Millions of Nigerians have personal stories of how the Internet has transformed their lives, their hustle, as today’s theme alludes to, in positive ways. And Juliet Ehimuan, Google’s Country Director Nigeria, has showed us, with stories of real people like Adaobi, how Google has featured prominently in many of these stories.
In 2016, working with the Office of the Senior Special Assistant to the President on SDGs, I launched the Google Digital Skills Training Programme with the target to train 400,000 Nigerians on basic Digital Skills, working with Google and local Nigerian Tech Training companies.
We have since surpassed those numbers and trained over a million Nigerians in basic digital skills in the last 24 months.
To scale up our support to private sector players in the technology space, I recently inaugurated the Technology and Creative Advisory Group, a subset of our National Industrial Policy and Competitiveness Advisory Council.
This group brings together, young private sector players in the technology and creative sectors and relevant government agencies, working jointly to formulate policies, programmes and projects for the Technology and Creative sectors of our economy.
Some private sector members of the Advisory Group and relevant government agencies like NITDA, NEPC and the Bank of Industry, went with me on the trip to Silicon Valley. Also on that trip, I met with the creative sector in Los Angeles and showcased Nigeria’s readiness and preparedness for investment, and the work we are doing with our Ease of Doing Business Secretariat, to provide an enabling environment for business in Nigeria, and which helped Nigeria rise 24 places on the World Bank’s Ease of Doing Business Index in 2017.
Through the GEM Project of the World Bank, the Federal Government has given out over $2million to 79 startups across the country. Apart from this, our National Social Investments Programme is working with the National Information Technology Development Agency (NITDA) to support the private sector to establish technology and innovation centers across the country.
We have established and launched these Innovation Hub projects across the nation. From the Ventures Platform in Abuja (Ventures Park), to the Marydel Hubs and the Edo State Government’s Edo Innovate project in Benin, Edo State, and the Humanitarian Innovation Center in collaboration with the North East Innovation Hub and the International Committee of the Red Cross (ICRC) in Yola, Adamawa State, we are committed to building an ecosystem to drive innovation.
The Federal Government is now investing in training 5,000 developers as part of our N-Power Tech program, just as we are catalyzing a whole new sector of animation production by training 3,000 young people with scriptwriting, storyboarding, voice acting, animation and post-production skills. Not only will we develop their skills, we are providing an initial support of the hardware and software tools that will help them function economically after they are trained. We also believe that starting earlier with our students helps to solve tomorrow’s challenges, today. The Federal Government is lending support to initiatives such as the Civic Lab’s Student Innovation Challenge, and the Campus Innovation Challenge by Union and CC Hub, Nigeria’s pioneer Tech Hub in Yaba, Lagos State, to discover and support student entrepreneurs in our tertiary institutions.
Next week, I will launch a Climate Innovation Center in partnership with the Enterprise Development Center at the Lagos Business School. This forms part of our ICT roadmap, in which the private sector is an important stakeholder.
The challenge remains connectivity, extending broadband reach, making data cheaper – National Broadband Policy. As a first[1] step, the Federal Government, through the Nigeria Communications Commission (NCC), has since licensed a number of Infrastructure Companies (Infracos), who will invest in rolling out broadband infrastructure across Nigeria.
I believe we can extend broadband reach significantly in a year or two. We will partner in whatever way we can with Google and Nigerian broadband providers like 21st Century Technologies Limited and Backbone Connectivity Network, to quickly achieve extensive broadband coverage.
Our goal is to create a data-driven digital economy; one that will lead the way not just in Africa, but globally as well. And I believe strongly that Nigeria is on the right path. We have the people, the talent, we have a government that sees the potential very clearly, and is showing the determination to unlock that potential.
Technology has put great power into our hands, as individuals, but more importantly as co-creators and collaborators, to positively and dramatically change the course of human existence. With it, we can solve many of the problems that confront us.
In addition, we can connect people, grow businesses, influence good governance, and create better lives, and a better country for ourselves and for the future.
Thank you.
By Dipo Olowookere
To tackle the critical cash flow challenges faced by Small and Medium Enterprises (SMEs) across Africa, investors like P2Vest, Norrsken Accelerator, Afrinovation Ventures, Kaleo Ventures, and 54 Collective (formerly known as Founders Factory Africa), have invested about $1.6 million into Billboxx.
The integrated billing-to-payment platform, founded in 2023, successfully closed the pre-seed funding round, which is a mix of debt and equity, due to its innovative approach and commitment to building a more financially secure future for SMEs – the backbone of the African economy.
Manual invoicing and deferred payments often result in delayed payments, stifling many SMEs, but Billboxx’s integrated billing-to-payment platform streamlines billing processes, reduces inefficiencies from manual invoicing and mitigates the impact of deferred payments.
By providing automated billing and invoicing, secure payment facilitation, and tailored cash flow financing, Billboxx empowers businesses to achieve consistent cash flow and focus on growth.
Since its inception, the company has facilitated over $4 million in invoice payments through its MVP launched in May 2023.
The platform boasts strategic integrations with a leading commercial bank in Nigeria, a prominent African payment gateway, and multiple lending partners, enabling seamless payment facilitation via bank transfers, cards, and financing options.
“Cash flow difficulties are the leading cause of business failures in Africa, with delayed invoice payments being a major contributor.
“Billboxx is dedicated to solving these issues with an integrated platform that ensures consistent cash flow and financial resilience for businesses.
“This funding round enables us to expand our impact and empower more SMEs to thrive,” the co-founder and chief executive of BillBoxx, Mr Justus Obaoye, said.
Another co-founder and chief technical officer, Mr Abdulazeez Ogunjobi, noted that, “Delayed invoice payments pose a significant threat to SME growth and survival.
“Our platform not only streamlines the billing-to-payments workflows but also offers strategic embeddings to expedite payments. We aim to alleviate payment concerns and allow SMEs to focus on their core business.”
One of the investors, Bongani Sithole of 54 Collective, said, “We’re enthusiastic about the innovative work the Billboxx team is building. These 3x founders with successful exits under their belts are leveraging their leadership and business experience to tackle a massive pain point for SMEs across Africa.
“We invested in the company due to the large market size of the opportunity, impressive early traction gained from strong early partnerships with notable large corporates and startups, and the solid tech product the team has developed. We’re delighted to back Justus and Abdulazeez as they continue to scale Billboxx.”
Mr Obaoye and Mr Ogunjobi previously co-founded two startups: Charistouch (Carido), successfully acquired by Cars45, and Fixit45, a spin-off from Cars45.
Their leadership experience in large corporations and scaleups such as Schlumberger, Bolt, and OLX add to their strategic insight and entrepreneurial prowess.
As technology advances, the internet is undergoing a revolutionary shift toward decentralization. Known as Web3, this next phase of the internet is redefining how we interact with digital systems by emphasizing transparency, user ownership, and autonomy.
At the heart of this evolution are Web3 developers—professionals whose expertise in blockchain and decentralized systems is driving innovation and creating exciting new opportunities. Pursuing a Web3 career is not just about adapting to industry trends; it’s about shaping the future of technology. In this article, we’ll explore why Web3 developers are in high demand and how you can step into this promising field.
What is Web3?
Web3 represents the decentralized evolution of the internet. Unlike its predecessor, Web2, where centralized platforms dominate, Web3 leverages blockchain technology to create an ecosystem that is transparent, secure, and community-driven.
Some of the defining features of Web3 include:
- Decentralization: Control is distributed among users rather than being concentrated in a single organization.
- Transparency: Blockchain technology ensures that all transactions and operations are open and verifiable.
- Automation: Smart contracts allow for self-executing agreements, reducing the need for intermediaries.
This paradigm shift has unlocked immense opportunities, particularly for developers who can create, manage, and enhance Web3 applications.
Why a Web3 Career is the Future
- Rapid Growth in Blockchain Technology
Blockchain is no longer just about digital currencies; its applications have expanded to include finance, healthcare, logistics, and gaming, among others.
This rapid adoption is driving an unprecedented demand for Web3 developers to build decentralized applications (dApps) and integrate blockchain solutions across various sectors.
- High Demand and Competitive Compensation
The demand for Web3 talent has outpaced supply, making it one of the most lucrative fields in tech. Web3 developers often earn significantly more than traditional developers due to their specialized skills.
Many roles offer remote and flexible working arrangements, enabling global opportunities.
- Opportunities for Innovation
Web3 is still in its infancy, making it a playground for innovators. From creating decentralized finance systems to building virtual economies in the metaverse, developers have the chance to work on groundbreaking projects that redefine industries.
Key Skills for a Successful Web3 Career
To excel as a Web3 developer, mastering certain skills is essential:
- Programming Knowledge: Proficiency in languages like Solidity, Rust, or Go, commonly used in smart contract and blockchain development.
- Blockchain Fundamentals: A deep understanding of how decentralized networks function and their architecture.
- Smart Contracts: The ability to design and implement self-executing contracts.
- Cryptography: Knowledge of encryption techniques to ensure security in applications.
Soft skills such as adaptability and problem-solving are equally important, given the fast-paced nature of the industry.
Benefits of Pursuing a Web3 Career
A career in Web3 comes with a range of unique advantages:
- Global Reach: The decentralized nature of Web3 opens doors to international opportunities without geographical limitations.
- Future-Ready Skills: Web3 expertise is increasingly sought after, offering a secure and sustainable career path.
- Collaborative Ecosystem: Unlike traditional tech environments, Web3 thrives on open collaboration and community-driven development.
- Freedom to Innovate: Developers have the flexibility to experiment and contribute to transformative projects.
Steps to Start Your Web3 Journey
Breaking into a Web3 career may seem challenging, but with a focused approach, it’s entirely achievable. Here’s how to get started:
Understand the Basics
- Learn the core concepts of blockchain technology, decentralized systems, and smart contracts.
- Explore educational resources, tutorials, and online communities for foundational knowledge.
Develop Technical Skills
- Master programming languages and frameworks commonly used in blockchain development.
- Familiarize yourself with Web3-specific tools and libraries to streamline your workflow.
Build Projects
- Start small by creating basic decentralized applications or experimenting with smart contracts.
- Showcase your work in a portfolio to demonstrate your capabilities for a potential employer.
Engage with the Community
- Join forums, developer meetups, and hackathons to network with others in the field.
- Stay updated on industry trends by following Web3-focused discussions and publications.
Continue Learning
- The Web3 space is constantly evolving, so staying up-to-date with advancements is crucial.
- Seek out certifications or courses to deepen your expertise and credibility.
Challenges and Future Outlook
While the opportunities in Web3 are immense, they come with challenges. The fast-evolving technology requires developers to continually upskill. Additionally, the regulatory landscape for blockchain and decentralized systems is still developing, which may introduce uncertainties. A Web3 career offers more than just a job—it provides a chance to shape the next wave of technological innovation. As industries embrace decentralization, the demand for Web3 developers will only grow. Whether you’re a seasoned tech professional or someone looking to enter the field, now is the perfect time to explore this exciting career path. By stepping into the world of Web3, you’re not just advancing your skills—you’re becoming part of a movement that’s redefining how we connect, transact, and collaborate online. The future of technology is here, and it’s decentralized. Will you be part of it?
By Adedapo Adesanya
HubPharm has emerged as the winner of First City Monument Bank (FCMB)’s HERccelerate Showcase Day held recently at Hub One, FCMB’s Innovation Hub in Yaba, Lagos.
The tech accelerator, powered by FCMB’s SheVentures and Hub One and delivered by 8thGear Hub & Venture Studios, was designed to empower women-led startups in Nigeria with the skills and resources needed to secure funding and scale.
HubPharm was the best out of 10 finalists with Midddleman, a platform simplifying payments for African e-commerce businesses sourcing from China coming second, while Onit, a productivity tool designed for African SMEs, secured third place.
The Showcase Day brought together the finalists selected from over 1,000 applications who pitched their innovative solutions to a panel of judges.
Ms Tope Kareem, the co-founder of the startup explained that HubPharm is a digital platform with a retail pharmacy chain which has delivered over 100,000 medications across 15 cities, ensuring 98 per cent on-time delivery with AI-driven logistics.
We plan to explore more options and ensure Nigerians, both at home and abroad, know the importance of prioritizing their health. This funding will enable us to keep growing and making an impact,” she noted.
Speaking on the HERccelerate initiative, Mrs Nnenna Jacob-Ogogo, Group Head of SheVentures, described it as “a testament to what we can achieve when we invest in women. While this is the first pilot of its kind, it is clear that women in tech have the talent, resilience, and vision to drive innovation.”
She also highlighted SheVentures’ broader impact, noting that over the past five years, they have “scaled businesses through four key pillars: access to finance, knowledge, markets, and networks. Our Zero Interest Loan program has provided over N800 million in funding to women entrepreneurs so far, an unprecedented achievement in the industry.”
The top 10 finalists will get free access to Hub One’s coworking space for a year, valued at over N5 million and will also be supported to scale their businesses.
FCMB’s HERccelerate programme is setting a new standard for supporting women in tech, with plans to accelerate over 200 startups in the next five years. By fostering innovation and inclusion, FCMB is shaping a brighter future for women entrepreneurs in Nigeria.
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