Nigeria Targets 22% ICT Contribution to GDP by 2027

By Adedapo Adesanya The Minister of Communications, Innovation, and Digital Economy, Mr Bosun Tijani, has announced a N1 billion partnership between the ministry and IHS Towers, one of the largest independent communications infrastructure firms in the world, to establish the 3 Million Technical Talent (3MTT) Learning Community. The ministry earlier this month released a 31-page policy document titled Accelerating our Collective Prosperity through Technical Efficiency which outlined plans to boost the country’s economy through the use of technology. It said it would collaborate with other ministries and parastatals, including private sector stakeholders to drive opportunities for startups to facilitate the

By Adedapo Adesanya Leading global provider of technological solutions YNV Group, through its cybersecurity brand, Cytek, has advocated that stakeholders in the financial services sector prioritise cybersecurity and highlighted key strategies for resilience at a recently hosted webinar for the industry. The session which was held on November 22, was themed Ensuring Cybersecurity Resilience in Financial Services Companies in Nigeria, and served as a pivotal platform for fostering collaboration and knowledge exchange in the sector. Led by cybersecurity experts in the industry, the webinar analysed some of the pressing challenges and emerging threats faced by financial services companies in Nigeria while

By Kehinde Ogundare In recent years, the global economy has faced and continues to face numerous challenges, including a pandemic, war, climate change, and inflation. Businesses have had to adapt and find new ways of working to tackle these challenges. Nigeria is no exception. According to the National Bureau of Statistics of Nigeria, the annual inflation rate accelerated to 24.08% in July 2023, the highest since September 2005. This has affected everything from electricity tariffs to transportation, all crucial to the performance of Nigerian enterprises. Fortunately, by adopting the right technologies and using them the right way, enterprises can ensure that they’re

By Aduragbemi Omiyale Three Nigerian startups are among the 11 small firms selected by Google for its Artificial Intelligence (AI) First Accelerator Program for Africa. The beneficiaries will undergo a 10-week accelerator journey and will get $350,000 as an allocation in Google Cloud Credits, and further enjoy mentorship sessions, technical guidance, and networking opportunities to enhance their reach and impact. The 11 startups were picked from a vast pool of innovative talent. At the end of the scheme, they would be required to use cutting-edge AI to address both the continent’s challenges and broader global issues. “At Google, we’ve been

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange appreciated further by 0.51 per cent on Friday, June 23, following a positive price movement from FrieslandCampina WAMCO Nigeria Plc. The milk producer closed the session at N70.96 per share compared with the preceding day’s value of N68.27 per share after gaining N2.69. This improved the value of the NASD bourse by N5.25 billion to N1.038 trillion from N1.033 trillion, as the NASD Unlisted Securities Index (NSI) went up by 3.80 points to wrap the session at 750.82 points compared with 747.02 points recorded at the previous session. During the session, the

By Ashemiriogwa Emmanuel As part of its initiative and ongoing capacity building programme, Nigerian telecommunication giant, 9mobile, recently equipped some journalists with Artificial Intelligence (AI) skills to improve their professional practice. The session, which was themed Responding to Emerging Challenges in Journalism with the use of AI-powered tools, was set up to acquaint journalists with emerging trends in journalism. Widely attended by journalists across print and online news platforms, the program was facilitated by Mr Usifo Omozokpea, an experienced multimedia producer and social media strategist who is the current Audience Development Manager (West Africa) at The Conversation Africa. Speaking at

By Dipo Olowookere The average yields of treasury bills at the secondary market in Nigeria went down on the first trading session of this week yesterday, Business Post reports. This occurred as the various market participants begin to readjust to the new directive from the Central Bank of Nigeria (CBN) on who or not to invest in the government debt instrument. Last week, the apex bank said effective Wednesday, October 23, 2019, institutional and retail investors would no longer be allowed to partake in the purchase of OMO bills at both the primary and secondary markets so as to improve

By Dipo Olowookere The Nigerian Stock Exchange (NSE) has suspended trading in the shares of First Aluminium Nigeria Plc on its platform. This followed the request of the company ahead of its planned voluntary delisting on the main board of the local bourse. The NSE said yesterday that Apel Asset Limited, on behalf of First Aluminium, has requested that the issued share capital of the company be placed on suspension. “Dealing members are hereby notified that in preparation for the voluntary delisting of the issued share capital of First Aluminium Nigeria Plc from the Daily Official List of the exchange,

By Modupe Gbadeyanka The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, in partnership with Green Delta Capital Limited (GDCL), have signed a memorandum of understanding (MoU). Under this MOU, both parties will work together regarding sourcing, structuring and implementing various financing transactions in Bangladesh. Mr Farid Masmoudi, Director, Direct Investments and Financing Department & Member of the Management Committee of ICD, and Mr Rafiqul Islam, Managing Director and CEO of Green Delta Capital signed the MoU on behalf of their respective organizations. During the MOU signing event,

By Dipo Olowookere A Mathematics teacher in Ogun State named Mr Kolawole Bello has highlighted ways to stem the continuous poor performance of students in Mathematics. Mr Bello, who works at The Ambassador College, Ota in Ogun State, while speaking at the on-going Cowbellpedia Mathematics Television Quiz Show in Lagos, stressed that parents and guardians have a major role to play in sustaining the interest of their children in the subject, which is dreaded by many. According to him, parents must strive to complement the efforts of teachers in encouraging and supporting students’ interest in Mathematics and other science subjects.

By Modupe Gbadeyanka Sokoto Operations Controller of the Department of Petroleum Resources (DPR), Mr Mohammed Makera, has disclosed that 19 filling stations in Kebbi and Sokoto States have been sealed. He explained that the affected fuel stations were closed down for allegedly selling petrol above the pump price of N145 per litre approved by the Federal Government. Addressing journalists in Sokoto on Tuesday, Mr Makera stated that 11 of the stations sealed were in Sokoto State while eight were in Kebbi State. According to him, the affected the stations were allegedly selling petroleum between N148 and N150 per litre to

By Adedapo Adesanya President Bola Tinubu has expressed his administration’s commitment to breaking the cycle of overreliance on borrowing for public spending that results in the burden of debt servicing. Inaugurating the Presidential Committee on Fiscal Policy and Tax Reforms on Tuesday in Abuja, the President charged the team to improve the country’s revenue profile and business environment. He also said that the federal government was moving towards achieving an 18 per cent Tax-to-GDP ratio within three years. Mr Tinubu directed the group to achieve its one-year mandate, divided into three main areas: fiscal governance, tax reforms, and growth facilitation.