Technology
Buhari Inaugurates Council to Boost Digital Economy, e-Government
By Adedapo Adesanya
President Muhammadu Buhari has inaugurated the Presidential Council on Digital Economy and e-Government, promising that his administration will continue to take advantage of digital technologies to transform every sector of the economy.
At the event on Friday in Abuja, the President directed the Minister of Communications and Digital Economy, Mr Isa Pantami, to chair the council on his behalf and give regular updates.
He tasked members of the council to work towards further strengthening the capacity of government to develop, adopt and deploy digital technologies to make government more efficient and transparent, thereby improving Nigeria’s global standing in the ease of doing business index.
Mr Buhari noted that the organisation, whose members have been arrived at after a painstaking and thorough process, would provide the oversight needed to bring about a veritable structure for accelerating achievements in the digital economy and in the implementation of e-government in the country.
He enjoined every member of the council to consider the task as a national assignment and justify the trust reposed in their ability to support and significantly enhance the digital transformation of Nigeria.
“I launched the National Digital Economy Policy and Strategy (NDEPS) on the 28th of November, 2019, and expanded the mandate of the then Ministry of Communications to include Digital Economy.
“The implementation of that policy and mandate has enabled us to achieve significant progress and record a number of unprecedented achievements.
“The impact of the COVID-19 pandemic on the global economy showed that the steps we took in developing and implementing NDEPS were indeed timely.
“For example, the Information and Communications Technology sector was the fastest growing sector in both the fourth quarter of 2020 and the entire year 2020, based on the Report by the National Bureau of Statistics.
“The sector’s 14.7 per cent double-digit growth rate was instrumental in supporting our country to exit the recession triggered by the COVID-19 pandemic, far earlier than predicted by experts.
“The significant contribution of 17.92 per cent by the ICT sector to our GDP in the second quarter of 2021 is another example of the important impact of the digital economy on the overall economy.
“In the same vein, the growth of our digital economy sector enabled us to cope with the effect of the lock-down as both activities of the government and private sector, as well as educational activities, were able to move to online platforms,” he said.
Furthermore, Mr Buhari expressed delight that the approval of the National Policy on Virtual Engagements for Federal Public Institutions had helped to formalise government online meetings.
According to him, statutory meetings like the Federal Executive Council (FEC), Council of State, and other meetings can now effectively and legally take place online.
He added that Nigeria’s progress in e-governance had been noted by the international community, eliciting recognition from international stakeholders, including the appointment of the Minister of Communications and Digital Economy as the Chairman of the 2022 Forum of the highly regarded World Summit of the Information Society.
While congratulating the minister, the president acknowledged that the ministry has partnered with the Korea International Cooperation Agency to develop a National e-government Master Plan, approved by FEC in August 2019.
The President listed benefits from the partnership, including “the training of over 1,400 Nigerian public servants in both Nigeria and South Korea on e-governance; the launching of an E-Government Training Centre handed over to the Federal Government in November 2019, and the signing off of Phase II of the e-government Project – Project for Building Foundations Towards Digital Governance in Nigeria (2020-2026).”
On his part, Mr Pantami noted that NDEPS launched in 2019, made provision for the establishment of the Presidential Council to coordinate the development of an indigenous digital economy.
While describing the implementation of NDEPS for a digital Nigeria as very successful, the minister said in the last two years, the sector had provided ICT intervention to no fewer than 1,667 institutions at the federal and sub-national levels.
He stated that the recent auctioning of spectrums by the ministry generated over 400 per cent of revenue to the federal government coffers while two virtual institutions established by the government had trained some 500,000 Nigerians on digital and emerging technologies.
The 27-man committee chaired by Pantami on behalf of the president has the following members: Boss Mustapha, Secretary to the Government of the Federation; Governor Inuwa Yahaya of Gombe State; Governor Nasir El-Rufai of Kaduna State; Governor Abdullahi Sule of Nasarawa State; Governor Godwin Obaseki of Edo; Governor Babajide Sanwo-Olu of Lagos State and Senator Hope Uzodinma, Governor of Imo.
Others are Dr Zainab Ahmed, Minister of Finance, Budget and National Planning; Adeniyi Adebayo, Minister of Industry, Trade and Investment; Dr Folasade Yemi-Esan, Head of Civil Service of the Federation; and Prof. Umar Danbatta, Executive Vice Chairman/CEO Nigerian Communications Commission.
Prof. M.B. Abubakar, Managing Director/CEO, Galaxy Backbone Limited; Dr Abimbola Alale, Managing Director/CEO, Nigerian Communications Satellite Limited; and Aliyu Aziz, Director General/CEO, National Identity Management Commission, are also members of the council.
Also on the committee are Mr Oswald Guobadia, Senior Special Assistant, (Digital Transformation) to the President; Olufemi Olufeko, Director, e-Government Dept, Federal Ministry of Communications and Digital Economy; A.B. Okauru, Director General, Nigeria Governors Forum; Prof. Simon Sodiya, President Nigeria Computer Society; and Gbenga Adebayo, Chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON).
Other members are Prof. Kabiru Bala, representative of the academia and Vice-Chancellor, Ahmadu Bello University, Zaria; Prof. Nnenna Oti, representative of the academia and Vice-Chancellor, Federal University of Technology, Owerri; and Mr Kashifu Abdullahi, Secretary and the Director-General/CEO, National Information Technology Development Agency (NITDA).
Mr Sungil Son, Country Director (KOICA); Dr Olufemi Adeluyi, Technical Assistant (Research & Development) to Minister of Communication & Digital Economy; and Abubakar Dahiru, Special Assistant (Cyber Security & Digital Identity) to the Minister are also members of the committee.
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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