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Investors Pump $68b Into Nigeria’s Telecoms Industry

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By Dipo Olowookere

A total of $68 billion has been injected into the Nigerian economy from the telecommunications sector despite economic downturn in the country.

From this amount, about $35 billion came from foreign direct investments (FDI).

According to the immediate past Secretary General of the International Telecommunications Union (ITU), Mr Hamadoun Toure, who was the keynote speaker at the Nigerian Telecoms Investment Forum at the just concluded ITU Telecom World 2016, Bangkok, Thailand, these figures recorded so far in Nigeria point to the fact that “the country is certainly a preferred destination for telecommunications investors in Africa”.

Mr Toure told the audience including Communications Minister, Mr Adebayo Shittu, Governor of Kaduna State, Malam Nasir El-Rufai, Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar G. Danbatta, members of the Diplomatic Corps, Chief Executives of agencies under the Ministry of Communications and major telecommunications companies from Nigeria, Thailand, Senators and Members of the National Assembly among others that Nigeria is the place to invest because the population is large, there is political stability and a very robust telecommunications regulatory regime.

He explained that within 15 years when Nigeria opened its telecoms sector to the global community, investments have grown in leaps and from a paltry 400,000 connected lines in 2001, the country now has over 150m connected lines and a teledensity of 107 percent.

“The next growth for voice communication is in Quality of Service

“The new oil in Nigeria is ICT and data transmission is the way to go,” he said.

Mr Toure was particularly excited that while he served as Secretary General of ITU, Nigeria occupied the number one position as the fastest growing telecoms sector for five consecutive years.

He told current and potential investors that the Nigerian Communications Commission (NCC) has done a very good job with the way it has managed regulatory activities transparently and by the fact that law makers from Nigeria were also part of the audience he spoke to at the venue, underscored the importance Nigeria attaches to this sector.

He said he is more Nigerian than his native Mali because Nigeria has always led the way, adding “Nigeria should share its experience with other African countries”.

While assuring existing and potential investors in Nigeria of Government support and protection at all times, Mr Shittu, who spoke on behalf of President Muhammadu Buhari, said since Nigeria was now navigating from resource based to knowledge based economy, “we want to encourage you (the investors) to renew your confidence in our country”. “Feel free to come to Nigeria and if visa is an issue let us know. Our doors are open and the ease of doing business in Nigeria is being improved upon”

Governor El-Rufai, who served as panellist at the forum alongside Mr Danbatta, EVC of NCC, Ms Funke Opeke of MainOne Cable, Mr Ibrahim Dikko of Etisalat said technology as an enabler has helped Kaduna State to reduce land fraud and tax payments are now done online thus reducing incidents of leakages.

Mr El-Rufai, a former Minister of Federal Capital Territory told the audience that Kaduna will soon launch Smart Kaduna initiative and has contacted a major Smart phone manufacturer to introduce pocket-friendly smart phones to Kaduna to boost the smart Kaduna Initiative.

NCC boss, Mr Danbatta told the audience that the regulator has begun digital transformation through the National Broadband Plan (NBP 2013 – 2018).

The NCC boss explained that since broadband is the catalyst for social and economic transformation, saying “we have come to let the global community know that investments are welcome in this area.”

He said the target is 30 percent by 2018 according to the NBP 2013 – 2018.

Although Nigeria has hit 21 percent so far, investments will be needed for 3G, 4G and to take services to underserved and unserved regions of Nigeria, “and we need to deploy infrastructure to those areas that have no services, we understand that and the strategy to address them hence we came out with the 8-point agenda to address this.”

Mr Danbatta told the audience that Nigeria has a very flexible regulatory environment and “we are fare, firm and forthright in our activities.”

CEO of MainOne Cable Company, Ms Funke Opeke, said MainOne Cable has keyed into the National Broadband Plan and hence investments in the Infrastructure Company (Infraco) licence for Lagos to take broadband services to Small and Medium Enterprises (SMEs), Corporate organisations through metropolitan fibre optic links.

“We are building over 1,000km of fibre optic in Lagos and this is part of the building block to encourage broadband penetration,” Mr Dikko, whose company, Etisalat, has over 20 million subscriber base said, adding that Etisalat was encouraged to invest in Nigeria because “laws are very clear, policy is good because the NCC hears us out all the time.”

In his contribution, Vice President, New Consumers at MasterCard, Mr Anand Menon praised Nigeria’s ICT sector for creating an enabling environment for business to grow.

“We at MasterCard believe in Nigeria,” Mr Menon submitted.

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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Google, UpSkill Universe Revamp Hustle Academy to Bring Free AI Skills to Africans

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By Adedapo Adesanya

Google and UpSkill Universe, Sub-Saharan Africa’s leading AI and business skills training partner, have announced a major redesign of the Google Hustle Academy programme. For the first time, the free training initiative is open to everyone, not just business owners.

The new curriculum is focused on equipping individuals and entrepreneurs with practical AI skills and comes at a time when small businesses have become the engine of Africa’s economy, creating over 80 per cent of jobs on the continent. To help them grow, the Hustle Academy was launched in 2022, providing bootcamp-style training on business strategy, digital skills, AI, and leadership. The program has since trained over 18,000 SMEs, with many reporting increased revenue and job creation.

Now, as AI reshapes the job market, the program is evolving. The 2026 edition is built for anyone in Sub-Saharan Africa, including employees, students, and job seekers, who want to use AI to advance their careers. To meet the needs of a diverse audience, the new format includes short, 60-minute webinars and more immersive, high-impact bootcamps. These sessions are laser-focused on putting AI to work immediately in areas like digital commerce, marketing, and growth strategy.

Speaking about the academy, Mr Gori Yahaya, Founder & CEO of UpSkill Universe, said, “The 2026 Hustle Academy is designed to close the AI Skills gap with hands-on training that is short, focused, and immediately useful. AI is reshaping how businesses win and how careers are built, right across this continent. We’re excited to renew our partnership, now in its fifth year with Google, combining their global AI leadership with our deep regional AI expertise. The next wave of AI leaders will come from this continent. We are making sure they are ready.”

The Hustle Academy initiative has strengthened digital competitiveness across emerging African economies by enabling SMEs to move beyond AI awareness to practical implementation, positioning them for sustained growth in an increasingly AI-driven business environment.

“We believe that the future of Africa’s digital economy lies in the hands of individuals and entrepreneurs alike. Our new strategy focuses on scaling reach by training individuals in the latest AI-centred tools and techniques,” said a Google representative.

Applications for the 2026 cohort are now open. Interested participants can apply at: https://rsvp.withgoogle.com/events/hustle-academy

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LINX Launches 12-month No-Charge Promo in Ghana

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By Modupe Gbadeyanka

To develop the country’s internet ecosystem and build a dedicated connectivity community, the London Internet Exchange (LINX) has launched a 12-month no-charge promotion for all services at its new Ghana Internet Exchange Point, LINX Accra.

LINX Accra went live at the end of 2025, providing a regional interconnection point and a platform for networks to meet and exchange traffic, available from PAIX, Onix and the new Digital Realty data centre launched at the end of last year.

As part of its growth drive, LINX Accra aims to attract major global internet carriers and content delivery networks to keep more traffic local to Ghana, building relationships between local networks and encouraging early adoptions through promotion.

A key aspect is growing the local networking and peering community to reduce Ghana’s reliance on international routing, improve latency, and cut costs for networks and end users across the country.

“Ghana’s connectivity ecosystem is growing fast, and our goal, through the promotion, is to remove early barriers and encourage local ISPs to join and exchange traffic from the start.

“We’ve seen in other African markets that once the local community grows, global networks follow, so this is an important step for building community engagement and driving the localisation of internet traffic in Ghana and West Africa,” the Head of Existing Business for LINX, Inga Turner, said.

Ghana is one of West Africa’s fastest-growing digital markets, with over 70 per cent of the country’s 25 million people accessing the internet, and Accra is connected to six submarine cables to provide international connectivity to the country.

The market is also attracting significant data centre investment with new facilities opening every few months.

LINX has had a successful growth in Kenya, building on a similar promotion for LINX Mombasa and LINX Nairobi, which helped establish and expand the connectivity ecosystem, attracting major global networks and content providers to keep traffic local.

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FG to Establish National Cybersecurity Council to Tackle Digital Threats

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By Adedapo Adesanya

The federal government has announced plans to establish a national cybersecurity coordination council to strengthen Nigeria’s response to rising digital threats.

In a statement, the Federal Ministry of Communications, Innovation and Digital Economy said the council will serve as a multi-stakeholder platform to improve coordination, intelligence sharing, and collaboration between public and private institutions.

The initiative, championed by the Minister of Communications, Mr Bosun Tijani, aims to enhance Nigeria’s ability to respond to increasingly sophisticated cyber incidents affecting both private companies and public systems.

“The proposed council is envisioned as a non-statutory, multi-stakeholder coordination platform, designed to convene key actors and strengthen partnerships that support efficient coordination, trusted information sharing, and sustained cooperation among institutions responsible for advancing Nigeria’s cybersecurity posture,” the ministry said.

The council will bring together chief information security officers, cybersecurity experts, technology firms, law enforcement agencies, and relevant government institutions.

It will also provide advisory support to the federal government on strategies and frameworks needed to improve national cyber resilience.

“The approach reflects the government’s recognition that modern cyber threats demand collective defence models, trusted threat intelligence sharing, and multi-stakeholder coordination,” the ministry added.

The move follows recent cyber incidents that disrupted operations and highlighted the “increasingly coordinated and sophisticated nature of cyber threats,” signalling the urgent need for stronger national cybersecurity frameworks.

This development comes amid the rising frequency and complexity of cybercrimes, which have made cybersecurity a vital tool that countries must focus on.

Special policies around data breaches, ransomware attacks, and third-party liabilities have come to the fore. While cybersecurity has been historically underutilised in Nigeria, its critical role in mitigating the financial fallout of cybercrimes and threats has taken a new dimension with the adoption of Artificial Intelligence (AI).

Countries are leveraging AI tools to enhance threat detection, automate incident response, and analyse patterns to identify risks early. These AI-driven solutions enable quick and effective responses, improving resilience by detecting anomalies, predicting potential attacks, and mitigating threats before they escalate.

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