General
NITDA Commits to Pushing Digital SMEs with Start up Policy
By Adedapo Adesanya
The National Information Technology Development Agency (NITDA) has reiterated its commitment to support the development of Small and Medium Enterprises (SMEs) through the development of the Nigerian Digital Innovation and Entrepreneurship Start up Policy (NDIESP).
According to the agency, this is in line with the Nigerian Digital Economic Policy and Strategy (NDEPS) aimed at boosting the economic growth and diversification of the country.
This was made known by the Director-General of the agency, Mr Kashifu Inuwa Abdullahi, at the Abuja Enterprise Agency Entrepreneurial Complex in Abuja, where he delivered a keynote address titled Leveraging on Technology and Innovation for Enterprise Productivity at the 8th edition of Business 360 Clinics by the Abuja Enterprise Agency (AEA).
He said SMEs were predominantly the backbone of economic growth in any country and have accounted for the successes of most businesses globally, with ICT being a major driving force for enhancing efficiency.
Mr Abdullahi affirmed that innovation and entrepreneurship are essential for long-term economic gains and prosperity.
“SMEs provide cornerstones on which economic growth and stability of any country solidly depends,” he noted.
He said; “according to World Bank Report on finances, SMEs were pronounced to represent 90 per cent of businesses and more than 50 per cent of employment globally.”
The NITDA boss argued further that in Nigeria, according to a report by Pricewaterhouse Coopers, SMEs contribute 48 per cent of the National GDP and account for 96 per cent and 84 per cent of businesses and employment respectively.
“SMEs are therefore key contributors to employment, economic and export growth to the Nigerian economy,” the DG maintained.
He also explained how the increase in revenue, operational cost reduction, customer service improvement, employee experience improvement and constant innovations are important for enterprise productivity while laying emphasis on technology as a driving force in achieving success.
The DG mentioned that NITDA has always been at the forefront of supporting SMEs and disclosed how the agency through one of its subsidiaries have supported over 200 local startups that leverage technology as a tool for entrepreneurship.
“You may be aware that, as part of our 20th Anniversary celebration, we launched and unveiled a four-year Strategic Roadmap and Action Plan (SRAP 2021 – 2024).
“One of the pillars of this roadmap, Pillar 4 – Digital Innovation and Entrepreneurship, has initiatives targeted at identifying and prioritizing areas of support for Micro, Small and Medium Enterprises (MSMEs) in addition to strengthening the Innovation-Driven Enterprises (IDEs) ecosystem – through the implementation of the Massachusetts Institute of Technology Regional Entrepreneurship Acceleration Program (MIT-REAP).
“As an Agency that is focused on issuing regulations that will positively impact the society and not stifle innovation or growth, we are keen on collaborating with relevant stakeholders to co-create regulations that will enable SMEs to leverage digital technologies to contribute meaningfully towards economic prosperity,” the DG concluded.
By Adedapo Adesanya
The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, has announced that Nigeria will launch a new alphanumeric postcode system on October 1, 2026, with every home expected to have a unique postcode.
Mr Tijani disclosed the development in a video post on X, describing the new system as a more precise and digitally oriented approach to addressing locations across the country.
He said the initiative would mark a significant shift in Nigeria’s postal addressing system by assigning unique postcodes to individual homes.
The initiative marks a major step in Nigeria’s digital transformation agenda. By replacing the outdated numeric-only system, the alphanumeric codes provide a more flexible and scalable framework that can accommodate the country’s rapid urban growth and diverse settlement patterns.
For emphasis, an alphanumeric postcode system is a postal indexing system that uses a combination of both letters (alpha) and numbers (numeric), along with spaces or punctuation, to identify specific geographic locations, streets, or individual buildings for mail delivery.
Unlike purely numeric postcode systems (such as the 5-digit US ZIP Code or 5-digit codes used in some European countries), alphanumeric codes offer a much higher number of unique combinations using fewer total characters. This flexibility allows postal authorities to pinpoint locations with incredible precision, often down to a single side of a street or a specific large building.
“On October 1st 2026 Nigeria’s new Alphanumeric Postcode System goes live,” Mr Tijani said.
“For the first time, every home will be assigned a unique postcode that’s simple, precise and built for a digital future,” he added.
The minister urged Nigerians to prepare to generate their individual postcodes ahead of the launch.
The new system is expected to strengthen Nigeria’s digital addressing infrastructure and improve the identification and location of homes and properties for postal and other location-based services.
The initiative is being implemented in collaboration with the Nigerian Postal Service (NIPOST) as part of broader efforts to modernise the country’s addressing and digital infrastructure.
By Modupe Gbadeyanka
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, has been directed to give an account to Nigerians on how the current government has fared since its inception on May 29, 2023.
This directive was given by President Bola Tinubu in a message posted on his verified social media handles on Wednesday.
This coincides with the commencement of campaigns for the 2027 presidential election scheduled for January 16.
According to the timetable of the Independent National Electoral Commission (INEC), candidates seeking to become the country’s president are eligible to kick off their campaigns from today, Wednesday, August 19, 2026.
In his message today, Mr Tinubu said, “When we began this journey of reform in 2023, I promised that the difficult decisions we were making would serve the purpose of building an economy that works better for you and a country that is stronger for our children.
“Today, your government presents The Reforms Scorecard. It sets out what our reforms have achieved, what they have cost us, and the greater costs and harms we have prevented by acting when we did.
“I have therefore directed the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, to give an account to Nigerians, to explain the numbers, the choices we have made, the progress recorded, and the work that remains.
“You deserve to see the numbers. You deserve to know what has changed and what these reforms mean for you, your family, your business and our country.
“This is your government. This is your country. This is our account to you.”
Shortly after he took the oath of office over three years ago, President Tinubu declared that subsidies on petroleum products were gone. He later approved foreign exchange (FX) reforms, which devalued the Nigerian Naira, shooting from about N800 per Dollar to nearly N2,000 per Dollar. However, it is currently slightly above N1,340 per Dollar in the official market.
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited and the Nigerian Agip Exploration (NAE) Limited are advancing discussions on the development of deepwater assets estimated to hold 500 million barrels of oil reserves.
The development followed a meeting between the chief executive of the state oil company, Mr Bayo Ojulari, and Agip’s Vice Chairman and Managing Director, Mr Maurizio Pinna, in Abuja.
The talks focused on ongoing work on deepwater acreage jointly held by NNPC, NAE and Shell Nigeria Exploration and Production Company (SNEPCo) as well as plans to bring the associated resources into production.
According to NNPC, the acreage comprises the Zabazaba and Etan deepwater fields, with estimated reserves of about 500 million barrels.
The fields are located in Nigeria’s deepwater terrain and are considered significant to the country’s efforts to expand its upstream oil production base, particularly as operators seek to advance projects capable of delivering additional barrels over the medium to long term.
While details of the expected production timeline were not disclosed, the meeting underscores renewed industry focus on unlocking Nigeria’s deepwater resources and growing crude oil production.
The acreage comprises licences converted from OPL 245 and is operated by NAE in partnership with NNPC Limited and SNEPCo.
Mr Ojulari and Mr Pinna also reviewed the work currently underway on the assets and the expected production outlook, with the discussions centred on advancing deepwater development.
The engagement comes amid renewed efforts to attract investment into Nigeria’s offshore petroleum resources and increase national oil production.
