Technology
Nigeria Needs Cutting-Edge AI Applications—Osinbajo
By Adedapo Adesanya
Nigeria needs to invent and produce cutting-edge Artificial Intelligence (AI) applications for education, business, medicine and security.
This was the view of Nigeria’s Vice President, Mr Yemi Osinbajo, at the founding class (2021) of the Nigerian University of Technology and Management (NUTM), Lagos.
Mr Osinbajo, while giving a keynote address at the event, also called for an effective collaboration between public and private sectors to build world-class institutions focused on innovation in science, technology and management sciences that would help proffer solutions to the country’s challenges.
NUTM is a top-notch school of innovation and technology focused on nurturing leaders in Nigeria and Africa, promoted by Mr Okey Enelamah, immediate past Industry, Trade and Investment Minister.
“The most significant problems of this generation, especially in Africa, will require innovation in science, technology and the management sciences, especially entrepreneurship and innovative leadership if we are to stand a chance of resolving them,” the VP was quoted as saying in a statement released by his media aide, Mr Olaolu Akanda.
The Vice President said that the graduands of the NUTM programme had what was required to be among those who would in the future, provide solutions to national and global challenges in different sectors.
“I think sitting before us today, the graduands of the NUTM Scholars Programme, we might just be beholding the men and women with the answers to some of the world’s most significant challenges.
“And there are many challenges indeed. We need to invent and produce cutting-edge AI applications for education, business, medicine and security.
“We need to design the educational innovation required to train millions of children in or out of classrooms all across the country and on our continent, and provide the techniques for delivering opportunities in technology on the scale,” he said.
Mr Osinbajo said that in Agriculture, Nigeria needed to invent advanced devices, precision agriculture methodologies, and robotic systems
He said such inventions would guarantee the huge yields per acreage or volumes in dairy and livestock to meet the food security needs of a country headed for the third position in global population size in a few short years.
“And we are waiting for the breakthrough in the treatment of peculiar African health challenges such as sickle cell disease, fibroids and cancers.
“There is so much to do. But we know that ground-breaking innovation in technology or commerce will always be the product of the work of well-trained people.
“Which is why the NUTM Scholars Programme was designed to offer cutting-edge knowledge in Technology, Entrepreneurship and Design; Management; Perspectives in breakthrough Leadership ideas, Critical thinking and Writing.”
According to him, the goal of the university is to train and equip highly sophisticated crack technology, innovation and management experts.
“The students are the first cut of that dream team. And, we are holding our breath waiting for you to step into your destined roles.
“First, every major innovative breakthrough in science, technology or the social sciences was the product of patient collaborative work, sometimes across nations.
“There is no innovation yet around the hard and, sometimes, long task of creating rare value,” he said.
According to him, the second reason why most people will never attain significance is that they are only interested in themselves and their personal successes.
“But to earn significance, one must do something much bigger than oneself, a big idea, a massive game-changer should always be your target.
“Third is developing a mindset that you are as good as anyone who has ever developed a game-changing idea.
“Problem-solving innovators are, after all, men and women not spirits. And this is important because the way not to achieve is to have a mind that is incapable of seeing huge things,” he said.
While commending the founders, management and academics of the NUTM for the great work, Osinbajo told the graduands that those who built Dubai were men and women, not spirits.
In his welcome remarks, Mr Enelamah, who is also the Chairman of the Governing Board of the University, thanked the vice president for attending the event.
He added that NUTM was a pioneering higher education institution that had been established to nurture leaders and innovators to create an impact in Africa and other parts of the world.
By Modupe Gbadeyanka
Nigeria’s telecom landscape is about to be abuzz, with the much-anticipated launch of Flexmobile from Hazon Technologies.
Feelers indicate that the company will soon make a commercial debut, as the regulatory approval is now in the final stage.
It was gathered that the commercial rollout for Flexmobile should be June 1, 2026, as this depends on the authorisation of the Nigerian Communications Commission (NCC), which regulates the sector. The telco will have the distinctive 081 number series.
Early signals suggest a product ecosystem engineered around flexibility, data-centricity, and user control—an approach aligned with the evolving expectations of Nigeria’s digitally connected population.
For seamless operations, Flexmobile has sealed commercial agreements with its MVNE, IMBIL, and Airtel Nigeria.
“What lies ahead is more than a launch—it is the beginning of a new way to experience telecoms in Nigeria,” the chief executive of Hazon Technologies, Mr Victor ‘Gbenga Afolabi, said at a recent media briefing.
“After years of building the right partnerships and infrastructure, we are approaching a defining milestone. Flexmobile is designed to challenge conventions and introduce a smarter, more flexible telecom experience for Nigerians,” he added.
While full details of its offering will be unveiled at launch, Flexmobile is expected to introduce a suite of value-added services designed to go beyond traditional connectivity—positioning the brand at the intersection of telecoms, lifestyle, and digital enablement.
Backed by strong institutional partnerships and a robust MVNE framework, Flexmobile enters the market not just as another operator, but as a platform with the potential to reshape how telecom services are consumed and experienced.
By Aduragbemi Omiyale
A leading Information and Communications Technology (ICT) company, ipNX Nigeria, is joining forces with the Nigerian Communications Commission (NCC) to accelerate broadband penetration and drive inclusive digital growth across the country.
Recently, an executive delegation of the organisation paid a visit to the chairman of the regulatory agency, Mr Idris Olorunimbe.
“We are pleased to engage with the new chairman of the NCC and show our support as he takes on this important role.
“Strong leadership and a clear policy direction are essential to unlocking the full potential of Nigeria’s digital economy.
“At ipNX, we remain committed to working closely with the commission and other stakeholders to expand broadband access, enhance connectivity in educational institutions, and ultimately bridge the digital divide.
“This collaboration will empower millions of Nigerians and further position the country as a leader in Africa’s technological evolution,” the Managing Director of ipNX Nigeria, Mr Ejovi Aror, said at the visit.
In his remarks, Mr Olorunnimbe thanked the firm for the show of support, reiterating the commission’s commitment to fostering an enabling environment for private sector participation in achieving universal broadband access across Nigeria.
This collaboration is expected to advance Nigeria’s transformation agenda in technology and help boost the federal government’s broadband agenda for the country.
ipNX Nigeria has said it remains at the forefront of delivering cutting-edge broadband and ICT solutions, and this engagement underscores its unwavering dedication to supporting national development through technology-driven initiatives.
By Adedapo Adesanya
MTN Nigeria is restructuring its fintech business by bringing in its parent company, MTN Group, as a major investor to help cushion against losses that have plagued the units.
Yesterday, MTN Nigeria announced that its parent firm, based in South Africa, will acquire a 60 per cent stake in MoMo Payment Service Bank Limited (MoMo PSB) and Y’ello Digital Financial Services (YDFS) Limited.
MoMo is a payment service bank business that provides financial services, including deposits, payments, transfers and digital wallets to individuals and small businesses in Nigeria via digital and mobile‑based platforms.
Y’ello Digital is a licensed super-agent that provides agency banking and financial services, including cash deposits, withdrawals and bill payments. It operates through the MoMo network.
In an explanatory note in respect of the proposed transaction on Tuesday, MTN Nigeria said the transaction will cost N95.5 billion and reduce its exposure to the “loss-making” financial technology (fintech) companies.
According to the Nigerian subsidiary, the acquisition, which the South African company will conduct through another subsidiary, MTN Group Fintech, is a restructuring that consists of two phases.
MTN Nigeria said the first phase is the acquisition of a 60 per cent stake in each of the two fintech companies by MTN Group.
“MTN Group Fintech will acquire a 60 per cent stake in each of the Fintech Companies through a combination of primary issuance of shares by the Fintech Companies and a secondary acquisition of shares in MoMo PSB from MTN Nigeria, at an agreed valuation of N95.5 billon (on an intra-group debt free and cash free basis), resulting in an implied capital injection of N152.06 billion payable in cash or consideration other than cash, or a combination (the “Investment Amount”) into the Fintech Companies; and MTN Nigeria will retain a 40% stake in the Fintech Companies,” the statement read.
According to the explanatory note, the second phase is the creation of a financial holding company named Fintech HoldCo, which will be 60 per cent owned by MTN Group Fintech and 40 per cent owned by MTN Nigeria.
The fintech units are currently loss-making, and this move will help MTN Nigeria to reduce financial risk and share future losses and investment burden. However, it will still keep a significant minority stake (40 per cent)
The network provider said the transaction phase will be completed with Fintech HoldCo acquiring the shares held by MTN Group Fintech and MTN Nigeria in MoMo and Y’ello Digital.
“Subject to obtaining the approval of the CBN, Fintech HoldCo will become the 100% owner of the shares in the Fintech Companies, having acquired all the shares held respectively by MTN Group Fintech and MTN Nigeria in the Fintech Companies,” the telecommunications company said.
MTN Nigeria said an annual general meeting (AGM) will be held on April 30, for shareholders to consider and, if thought fit, approve the proposed transaction.
The telco said the proposed transaction distributes operational risks, allowing MTN Group Fintech to share future capital risks, such as losses, regulatory burdens and execution risks.
In August 2024, MTN Nigeria acquired a 7.17 per cent stake held by Acxani Capital Limited in MoMo.
The acquisition increased MTN Nigeria’s total stake in MoMo to 100 per cent.
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