Technology
Nigeria Targets $10bn from Blockchain by 2030—NITDA
By Adedapo Adesanya
The National Information Technology Development Agency (NITDA) has noted that Nigeria plans to capture a market share of about $10 billion through blockchain technology in the next 10 years.
The NITDA Director-General, Mr Kashifu Inuwa, said this at a stakeholders’ engagement for the review of the National Blockchain Adoption Strategy Framework in Abuja on Thursday.
Mr Inuwa said that blockchain was among emerging technologies that had contributed to the growth of economies globally, saying that Nigeria will not be left out.
“We see the need for us to position our country well so we can capture value from the blockchain.
“There is a recent publication by PricewaterhouseCoopers (PwC), an international institution that indicated that in the next 10 years, blockchain is going to contribute $1.76 trillion to the global Gross Domestic Development by 2030.
“We want Nigeria to be strategically placed to capture value from this economic potential of blockchain.
“Based on the PwC analysis, China is going to get the highest net worth potential from blockchain technology because it is projected that by 2030, China will capture over $460 billion.
“In Nigeria, looking at our youthful population, which is mainly digitally native and with our position in Africa, we are looking at how we can get at least around $6 to $10 billion by the year 2030,” he said.
Mr Inuwa said that the target was achievable because Nigeria’s payment and financial services were huge, while the country had been located as a hotspot for fintech in Africa.
He added that blockchain technology could be achieved through provincial services, payment services, digital identity, customer engagement, contract and dispute resolution applications, among other strategies.
The Director-General said that it was important for Nigeria to discover its competences and adopt the application that could generate income.
He also said that the blockchain technology interfaced with the eight pillars of the National Digital Economy Strategy and Policy towards building a digital economy.
Mr Inuwa called on stakeholders to fashion out flexible and implementable strategies for immediate execution that government can leverage on for job creation.
“We are looking at coming up with a strategy to help the country capture value from financial services, land administration, education and health care.
“Blockchain is going to play a key role in terms of creating, tracing products and services,“ he said, adding that the COVID-19 pandemic had forced people and nations to devise secured ways of transacting businesses and that blockchain technology provided such an opportunity.
Mr Usman Gambo, Director, IT Infrastructure Solutions, in his address, said the adoption of blockchain technology was in line with the policy of creating a digital economy for the benefit of citizens.
Mr Gambo said the mechanism of blockchain was complex, but the benefit outweighs the challenges.
He said that the technology if adopted must be regulated to avoid abuse by Ponzi scheme and other malicious technology financial platforms.
The director said that stakeholders’ contributions would give the country directions on how to adopt the technology.
Mr Abdulsalam Umar, a Blockchain Expert, while reviewing the strategy document, said the benefits of the technology included reduced budgeting cost, ensuring security and globalisation.
Mr Umar added that the technology could help create jobs and new business models in addition to ensuring transparency in governance.
He said that adopting it would require a legal framework to avoid potential risks and ensure that the country was operating a common global standard.
The expert added that the technology was beneficial because it could make huge contributions to the country’s Internally Generated Revenue.
Blockchain Technology is a distributed ledger technology (DLT) that allows data to be stored globally on thousands of servers while letting anyone on the network see everyone else’s entries in near real-time. That makes it difficult for one user to gain control of, or game, the network. It can be used in all industries including conducting elections.
Technology
Nigeria to Launch NIGCOMSAT Satellites in 2028, 2029
By Adedapo Adesanya
Nigeria has set 2028 and 2029 as the timeline for the deployment of its new satellites, NIGCOMSAT-2A and 2B, respectively.
The Managing Director of NIGCOMSAT, which is Nigerian Communications Satellite Limited and the premier satellite operator in Nigeria, Mrs Jane Nkechi Egerton-Idehen, disclosed this at the second Nigerian Satellite Week in Abuja on Monday. She noted that the development is expected to boost military intelligence, surveillance, and regional connectivity.
“For 2A and 2B, we have started the process. We have closed the tender and are now back into the financing and implementation stage. 2A is built to come up in 2028, and 2B for 2029.
“When they are up and running, they are expected to provide security within the borders and neighbouring countries. They will support the security agencies because data collection and intelligence in real time is important. Satellites like communication satellites allow that, irrespective of where they are,” she said.
In his remarks, the Minister of Communications and Digital Economy, Mr Bosun Tijani, said the satellites form part of the nation’s strategy to strengthen digital infrastructure.
Mr Tijani explained that the satellites will complement ongoing investments in 90,000 kilometres of fibre-optic cable and nearly 4,000 telecom towers, which are being rolled out nationwide and extended to neighbouring countries, including Cameroon, Niger, Chad, Burkina Faso, and the Republic of Benin.
He stressed that satellite technology is critical for national development, affecting education, agriculture, business, and emergency response.
“The president’s approval of NIGCOMSAT-2A and 2B demonstrates a clear commitment to building the future. These satellites will enhance security, connect remote communities, and extend our fibre-optic network into neighbouring countries,” he said.
“Some of these neighbouring countries pay up to ten times more for internet capacity than Lagos. Extending our fibre network will not only improve connectivity but also enhance border security and regional collaboration.
“Satellite technology affects everything, from how a child in a rural community accesses the internet to how farmers make critical decisions and how businesses operate across distance,” the Minister said.
Also speaking, the Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, welcomed the development, saying the military will leverage the satellites for operational efficiency.
“The Nigerian Army will continue to use space assets to improve intelligence gathering, surveillance, and operational coordination across all theatres of operation,” he said at the event, represented by Major General Kennedy Osemwegie, Commander of the Nigerian Army Cyber Warfare Command (NACWC).
Technology
Interswitch, KCB Group to Deliver Innovative Financial Solutions in East Africa
By Modupe Gbadeyanka
A partnership to advance digital payments and financial inclusion across East Africa has been strengthened between Interswitch and KCB Group.
Both parties have agreed to expand digital payment infrastructure and deliver innovative financial solutions that meet the evolving needs of individuals, businesses, and institutions across the region.
The aim is to accelerate seamless, secure, and inclusive digital payments in East Africa, where the leading Africa-focused integrated payments and digital commerce enabler, Interswitch, recently announced an expansion of Verve card acceptance footprint, leveraging its consolidated partnership with KCB Group, Kenya’s largest financial services group by assets, following a similar move in Uganda through the local KCB Franchise in February 2022.
During a recent executive engagement at KCB Group headquarters in Nairobi, the chief executive of Interswitch, Mr Mitchell Elegbe, held high-level discussions with KCB leadership, including its chief executive, Paul Russo.
At the core of the strengthened collaboration is the integration of Interswitch’s robust payment rails, card scheme, and emerging digital token solutions with KCB Group’s expansive regional footprint and trusted banking franchise.
This integration enables the acceptance of Verve cards and tokenised payment solutions across KCB’s extensive merchant point-of-sale network in Kenya and Uganda, significantly enhancing everyday usability for customers while strengthening KCB’s digitally driven retail payments offering.
The consolidated partnership is expected to drive increased merchant acquisition, improve interoperability across payment ecosystems, and expand access to secure, cashless transactions. It also reinforces both organisations’ shared objective of deepening financial inclusion and accelerating digital commerce across East Africa.
“Our collaboration with KCB Group represents a powerful alignment of vision and capability. By combining our technology-driven payment solutions with KCB’s strong regional presence, we are unlocking new opportunities to scale access, drive innovation, and deliver greater value to customers across East Africa,” Mr Elegbe stated.
Technology
Telcos to Compensate Customers for Service Disruptions—NCC
By Adedapo Adesanya
The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to provide compensation to subscribers whose network quality of service experience is below specified targets within specific locations.
In a Sunday statement, the commission noted that its position is that customers should not be made to bear the full burden of service disruptions where operators fail to meet prescribed standards of service delivery.
Under this directive, NCC said erring operators would compensate affected users directly for breaches of Quality of Service (QoS) Key Performance Indicators (KPIs).
Mobile Network Operators (MNOs) will be required to pay these compensations for instances of poor quality of service recorded within specified time frames.
“The compensation will be provided in the form of airtime credits, calculated based on subscribers’ average spending patterns and their presence within Local Government Areas where service failures occur”, according to the statement.
The directive is rooted in the agency’s broader regulatory philosophy that places the consumer at the centre of Nigeria’s telecommunications ecosystem.
“Telecommunications services today underpin economic activity, social interaction, and access to digital opportunities. When service quality is poor, the consequences affect productivity, commercial activities, and even public confidence in our communications system.
“While regulatory fines have traditionally served as a deterrent against poor service delivery, the Commission is adopting a more consumer-focused approach that strengthens accountability within the industry”.
The commission explained that it has designed this measure to complement existing and ongoing efforts to strengthen service quality monitoring and enforce performance standards.
Further to this directive by the commission to MNOs on compensation to consumers, the regulator has mandated Tower Companies that own the critical infrastructure, such as masts, for Quality of Service delivery, to invest in infrastructure with measurable outcomes using sums that it has fined these companies, in addition to other financial fines the Commission will deem appropriate.
“The commission will continue to reinforce the obligation of operators to invest consistently in network resilience, capacity expansion, and infrastructure upgrades to meet the growing demand for telecommunications services.
“At the same time, it will deploy regulatory tools that promote fairness, transparency, and accountability across the sector, ensuring that every subscriber receives the quality of service they deserve while sustaining a telecommunications industry capable of powering Nigeria’s digital future”, the statement added.
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