Technology
Nigeria’s Telecommunications Sector has Attracted $70bn Investments—NCC
By Aduragbemi Omiyale
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Mr Umar Danbatta, has disclosed that the country’s telecommunications sector has attracted about $70 billion in investments.
In his keynote address delivered at a two-day International Conference of the Association of Media and Communication Researchers of Nigeria (AMCRON), the NCC chief described the industry as a critical component of the economy.
He also said these huge investments were made possible through the implementation of policies designed by the government to create enabling environment for stakeholders.
Speaking on the theme Influence of Communication Policies on Digital Revolution in Nigeria, Mr Danbatta stated that communication policies are essentially blueprints and strategies, marked by plans for the development of Information and Communication Technology (ICT) in a way that nudges people to harness opportunities of the Fourth Industrial Revolution through the embrace of digital culture across sectors by individual, businesses and institutions.
According to him, this diligent implementation of various telecommunications policies, strategies and regulatory frameworks has continued to enhance the nation’s capacity to deepen citizens’ access to digital resources, transformed media and knowledge production and positively impacted Nigeria’s economic and social progress.
The NCC boss, represented by the agency’s Director of Research and Development, Mr Ismail Adedigba, while tracing the trajectory of growth in the telecoms industry from 1960 till date, said the past decades had witnessed formulation of various policies and laws for developing the industry, but remarkable growth in the sector started after the sector’s liberalization in 2001.
He said through diligent implementation of policies, vision plans and strategic regulatory frameworks by the NCC, in collaboration with relevant stakeholders in the industry, there is increased access to digital services, and the media industry is being shaped in terms of patterns of information dissemination through multiple platforms while the digital revolution has revealed a new vista of research areas for scholars in the field of mass communication.
“Today, the active telecom subscribers have grown significantly to 212.2 million from about 400,000 aggregate telephone lines in the country as of 2000, on the eve of liberalisation. This represents a teledensity of 111 per cent. Basic Internet subscriptions grew from zero ground to 152.7 million now, while broadband subscriptions stand at over 86 million, representing a 45.09 per cent penetration as of July 2022.
“The industry has also become a major contributor to our national economy, with the ICT industry contributing 18.94 per cent to the nation’s Gross Domestic Product (GDP) as of the second quarter of 2022, according to the latest data released by the National Bureau of Statistics (NBS). From this, the telecommunications sector alone contributed 15 per cent to GDP.
“The ICT contribution to GDP is, by far, the second largest contributor to the national economy aside from the agriculture sector. From less than $500 million investment in 2001, the investment profile in the nation’s telecommunications sector has also surpassed $70 billion. The telecommunication sector has also created direct and indirect jobs for millions of Nigerians to date,” Danbatta said in his keynote speech,” he said.
Mr Danbatta expressed hope that just as the liberalisation policies have worked quantifiably for Nigeria’s progress, yielding exponential results, the commission is committed to the implementation of the various extant economic recovery plans, digital economy policies, the national broadband plan as well as strategic management plans which have been streamlined in NCC Strategic Vision Plans.
The EVC promised that the NCC would continue to ensure more quantum leaps and retain its current leadership role in the telecommunications space to lead Nigeria into the next level of development.
“To achieve this, the NCC will continue to strengthen collaboration with the media professionals and communication research-focused bodies such as AMCRON, towards creating an environment where stakeholders can leverage digital infrastructure to achieve greater efficiency in what they do,” he said.
By Aduragbemi Omiyale
Four Nigerian firms have been selected to join the 10th Google for Startups Accelerator Africa Cohort, which began on April 13 and will end on June 19, 2026.
Fifteen companies are participating in the hybrid programme, which will receive dedicated guidance from experienced mentors and industry experts, alongside hands-on technical workshops focused on AI and machine learning.
The four Nigerian startups chosen for this scheme include Bani, MasteryHive AI, Regxta, and Termii.
They were picked from an exceptionally competitive pool of nearly 2,600 applications. The beneficiaries are utilising Artificial Intelligence (AI) to address critical local and regional challenges.
As for Bani, it is a cross-border payments infrastructure platform eliminating settlement delays for African businesses trading globally, while MasteryHive AI is an AI-native platform automating transaction reconciliation, fraud detection, and AML monitoring.
On its part, Regxta combines alternative data-driven credit scoring with a hybrid digital-agent distribution model to deliver financial products to unbanked micro businesses, while Termii uses its AI-native communications infrastructure platform to ensure reliable financial messaging for banks and fintechs.
African tech founders are actively solving fundamental infrastructural challenges, bridging gaps in financial inclusion, healthcare, and supply chains with complex AI.
The continent’s venture ecosystem showed remarkable resilience by raising $3.9 billion in 2025. However, scaling deep-tech solutions requires specialised technical infrastructure, advanced cloud capabilities, and strategic mentorship to complement this capital.
Accelerator initiatives provide these exact tools, ensuring local innovations can sustainably grow into businesses that power the continent’s digital economy.
“At Termii, we’re building AI-powered infrastructure that ensures financial transactions don’t fail, from login PINs to payment OTPs and fraud alerts.
“The Google Startup Accelerator is helping us accelerate our AI roadmap and scale globally, and even in the first week, access to technical support and insights has been incredibly valuable for our next phase of growth,” the chief executive of Termii, Mr Gbolade Emmanuel, stated.
“We are absolutely thrilled to welcome these exceptional founders into Class 10. African startups are driving essential economic growth and social development.
“Our role is to serve as a supportive partner, providing these developers and founders with the technical infrastructure, mentorship, and global network they need to scale their solutions and amplify their real-world impact,” the Head of Startup Ecosystem for Google Africa, Mr Folarin Aiyegbusi, disclosed.
Since launching in 2018, the Google for Startups Accelerator Africa program has supported 106 startups from 17 African countries, empowering them to collectively raise over $263 million and create more than 2,800 jobs.
By Modupe Gbadeyanka
Nineteen emerging startups are being showcased at the 2026 Demo Day organised by the Ilorin Innovation Hub in partnership with IHS Nigeria, a part of IHS Holding Limited, also known as IHS Towers.
The participating small firms took part in the hub’s accelerator and incubation programmes. At this event, themed The Convergence, they will pitch their solutions to investors, venture capital funds, corporate partners, and the media.
The platform would be used to help them unlock funding opportunities, foster strategic collaborations, and amplify visibility for these startups that are developing solutions across critical sectors, including agriculture, health-tech, green energy, lifestyle, and digital services.
“We believe innovation and digital technology are powerful drivers of economic growth and sustainable development. This is why we partnered with the Kwara State Government on the Ilorin Innovation Hub.
“It is impressive and very fulfilling to see the diverse portfolio of ideas and solutions showcased today from the hub within a year of the commencement of operations. This speaks to the depth of creativity among Nigerians and what is possible when they are equipped and supported.
“Today’s event makes me proud of our investment in the space and underscores IHS Nigeria’s continued commitment to supporting technology, entrepreneurship, and digital innovation in Nigeria,” the chief executive of IHS Nigeria, Mr Mohamad Darwish, said.
The Managing Director of Ilorin Innovation Hub, Temi Kolawole, also said, “Today, we showcase 19 startups that have shown that when you combine talent with the right support, the results speak for themselves.
“The Ilorin Innovation Hub exists to ensure that geography is never a barrier to building something extraordinary, and this Demo Day is proof that we are on the right track.”
The Ilorin Innovation Hub, a partnership between the Kwara State Government and IHS Nigeria, began operations in February 2025 with programmes managed by Co-creation Hub and Future Africa.
The Demo Day presents an opportunity to take stock and assess how the Ilorin Innovation Hub is helping to nurture and bring to life groundbreaking ideas and solutions supporting economic resilience and addressing real-world societal challenges.
By Adedapo Adesanya
The Lagos State Government has released a set of cybersecurity guidelines to enhance digital safety for businesses, public institutions, and residents in the state, which is home to thousands of enterprises.
A statement by the State’s Commissioner, Information and Strategy, Mr Gbenga Omotoso, noted that the development represents another decisive step in Lagos’ mission to become a secure and globally competitive digital hub.
The National Information Technology Development Agency (NITDA) estimates that Nigeria loses over $500 million (approximately N250 billion) annually to cybercrime, underscoring the urgency for stronger, coordinated security measures.
Lagos’s rapid evolution into a SMART City heightens vulnerability to cyber threats, Omotosho noted, adding that the newly issued guidelines outline clear, practical, and scalable cybersecurity best practices for small businesses, medium and large enterprises, and Ministries, Departments, and Agencies (MDAs).
They are aligned with key national frameworks, including the Cybercrime Act (2024), the Nigeria Data Protection Act (2023), and the National Cybersecurity Policy and Strategy (2021).
According to the guidelines, these recommendations are not regulatory mandates but tools designed to empower stakeholders with practical, context-specific guidance.
The Lagos State Government reaffirmed its commitment to fostering a secure digital environment that promotes innovation, investment, and public trust.
“The guidelines further strengthen Lagos State’s leadership in advancing digital trust and building a resilient, future-ready digital economy.
“The Government praised the Lagos State Cybersecurity Advisory Council, chaired by Prof. Fene Osakwe, for its strategic leadership and technical expertise in developing the framework.
“The release of these guidelines underscores Lagos State’s unwavering dedication to safeguarding digital assets, enhancing public-private collaboration, and ensuring that every organisation—from sole proprietorships to multinational corporations—can operate confidently in a secure digital environment.
“As the document highlights, A cybersecure Lagos is essential for sustaining its position as one of the most dynamic and globally competitive tech hubs of the 21st century”, the statement added.
The Lagos State Government said it will continue to refine and expand the guidelines to address emerging threats and evolving technologies, ensuring that cybersecurity remains a foundational pillar of the State’s digital transformation.
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