Technology
Nigeria Urgently Needs National Technology Agenda—Verraki
Leading business and technology solutions firm, Verraki Partners, has called on the Nigerian government, working in collaboration with the private sector, to urgently develop and begin to execute a national technology agenda, that will be distinctly Nigerian and will improve our competitiveness in the global economy.
Speaking to journalists on the sidelines of the recently concluded 25th Nigeria Economic Summit, Senior Manager for Technology Application Services at Verraki, Olatunde Olajide who facilitated the summit’s Industry Breakfast Meeting on Information and Communications Technology, advocated the need for Nigeria to overturn its perceived unwelcome stereotype and emulate countries like Israel, China, Singapore and South Korea that have all articulated and implemented a national agenda which has in turn helped them to create specific niches, improve their reputation while fostering economic growth.
In his submission, though Nigeria boasts of Africa’s largest young population, bursting with entrepreneurial energy, tremendous resolve, resilience and creativity, the nation is yet to articulate a holistic agenda as a counternarrative to the damaging reports of fraud, corruption and unemployment.
He asserts that this biased perspective has a negative impact on the country’s perception, creating a drawback to our ability to attract new investment and ultimately our future economic potential.
In pressing for a national ICT agenda, Olajide quoted “Following its release of an Artificial Intelligence Development Plan, China outlined AI as a national priority, expressed its commitment to building a domestic AI industry worth US$150 billion and leading AI globally by 2030.
“China has already introduced AI pilot programmes in hundreds of schools and training teachers to implement the new curricula throughout the country. Nigeria must define what its strategic ICT agenda is, in the global economy and work towards this”.
He continued “There is a lot Nigeria can do in a global economy; Nigeria is home to the leading hubs for entrepreneurship on the continent thanks to several strengths, including our resilient entrepreneurs, a growing number of engaging international investors, a huge population with increasing access to technology, a growing number of startup support organizations active in the ecosystem, over 84 million hectares of arable land with less than half cultivated for agriculture production, our creative industries especially music and Nollywood, a booming billion dollar film industry. We must harness these strengths to determine how best we can play in the global economy”.
Olajide also highlighted the importance of local content and skills in the country’s IT agenda and encouraged local enterprises and governments to patronize companies with Research & Development, Product Development and Manufacturing operations in Nigeria to help in developing natonal technology competence.
“China, South Korea, Japan’s competencies were not built in a day. I remember people scorned Asian (Japan, South Korea and China) cars some decades ago. The path to development is an iterative process and we must encourage our local players so they can improve.
“Given the low national literacy level of 66%, we need to aggressively scale digital literacy training for teachers, students, and others while also establishing systems and structures for protection of contents and IP rights of our inventors and entrepreneurs”, he concluded.
The 25th edition of the Nigerian Economic Summit, a public-private dialogue held recently in Abuja and was supported by Verraki Partners.
Since its inception, NESG has promoted its activities around six fundamental principles of the economy. It includes a commitment to a Free Market Economy, encouragement of Private Sector Investments, Creation of an Enabling Environment, Good Governance in the National Interest, Rule-Based Economy and the Establishment of Economic Foundation for Democracy.
Verraki is focused on implementing technology and business solutions designed inherently for Africa and fit for purpose, while curating business ventures that would contribute to unlocking new sources of growth across the continent.
Led by foremost corporate professionals as well as former Accenture leadership in Nigeria, Verraki will apply its global expertise and local insights to partner with enterprises and governments to accelerate the development and transformation of Africa by providing business solutions uniquely tailored for Africa.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn