Technology
Osun to Access $618m Creative, Digital Fund

By Adedapo Adesanya
The Osun state government has moved to launch a support desk for tech innovators and entrepreneurs in the state to access the recently launched $618 million fund by the federal government and the African Development Bank (AfDB).
Governor Ademola Adeleke, who directed the establishment of the fund, expressed the readiness of his government to tap into the opportunities in furtherance of the digital economy agenda of his administration.
The governor, whose position was recently affirmed by the Appeal Court, said his administration has created enabling environment for the Osun state tech ecosystem, citing the recent domestication of Nigeria’s Startup Act, the flag off of the state’s broadband fibre optic project, and the establishment of a Digital Advisory Board.
He said, “I am delighted to appreciate the African Development Bank, which has set up a $618 million fund to support the technology and creative sector in Nigeria. This is a great initiative spearheaded by Dr Akinwunmi Adesina, the Nigerian President of the African Development Bank, in partnership with our Federal Government, I would like to commend him for his visionary leadership and dedication to the development of our country.”
He added, “I am confident that this fund will go a long way in supporting innovation, job creation, and economic growth in our country.
“As the Governor of Osun State, I am pleased to announce that the Ministry of Innovation, Science, and Technology has been instructed to set up a desk to assist all technology and creative sector entrepreneurs in Osun State in applying and accessing this fund. The desk will provide comprehensive guidance and support to all interested applicants, ensuring that the application process is seamless and efficient.
“We are also exploring partnerships with the African Development Bank to support programs in the technology and creative sector in our state. We will be reaching out to the bank soon to discuss how we can collaborate and leverage this fund and other opportunities to create a vibrant and innovative ecosystem in Osun State.
“I commend the African Development Bank for domiciling the fund in the Bank of Industry to prevent it from being politicized. This is a great step towards ensuring that the fund is used for its intended purpose and will benefit the technology and creative sector in Nigeria.
“I encourage all technology and creative sector entrepreneurs in Osun State to engage directly with the Ministry and register as a stakeholder operating within the state. This is a significant opportunity for our entrepreneurs to grow their businesses while also contributing to the growth and development of our state”, he stated.
He called on residents to harness the potential of the technology and creative sector and create a vibrant and innovative ecosystem in Osun.
Technology
HabariPay’s Squad Seeks Entries from Young Innovators for Hackathon 2.0

By Modupe Gbadeyanka
The payment fintech subsidiary of Guaranty Trust Holding Company (GTCO) Plc, Squad, operated by HabariPay, has urged young innovators to submit applications for the 2025 Squad Hackathon.
A statement from the company disclosed that Squad Hackathon 2.0 will take place from March 13 to 15, 2025, at the state-of-the-art GTCO Training Complex located at Tayo’s Plaza, Abeokuta, Ogun State.
Themed Finclusion Revolution: Unlocking Access, Empowering Communities, this 3-day event aims to spotlight how technology can address real-world challenges that limit access to financial services in underserved communities.
The hackathon will feature onboarding, team-building activities, brainstorming and hacking sessions, and solution development.
By providing a platform for university students and other tertiary institution participants to showcase their IT skills, the event fosters personal growth, professional development, and network-building.
Additionally, it serves as a stepping stone for young innovators to gain exposure, attract investment, and potentially bring their solutions to market.
The grand prize for the programme is N5 million for first place. The first runner-up will smile home with N3 million and the second runner-up will get N2 million, while the standout participants will have the exclusive opportunity to join the Squad Hackademy.
Launched in January 2024, Take on Squad Hackathon is designed to foster creativity, collaboration, and problem-solving skills among emerging tech talents.
Competing teams will leverage Squad’s advanced APIs to create scalable digital solutions that not only improve their immediate communities but also contribute to addressing wider economic and social concerns.
The second edition of the hackathon is expected to be even larger and more impactful, with expanded participation from universities across Nigeria and a broader range of impactful problem statements.
“The Take on Squad Hackathon reflects our core mission of empowering businesses and young innovators. We believe that the next big breakthrough in technology will come from young minds who are passionate about solving current and emerging universal challenges.
“At Squad, we are not just building cutting-edge payment solutions for our clients, but nurturing a culture of innovation and empowering the next generation of tech leaders in Africa,” the Managing Director of HabariPay Limited, Eduophon Japhet, stated.
Technology
Telcos Finally Begin 50% Hike in Data, Call Prices

By Adedapo Adesanya
Some Nigerian telecommunication service providers (telcos) have started hiking their tariffs following the approval granted by the Nigerian Communications Commission (NCC) in January.
Subscribers of MTN Nigeria and Swift are some who have seen increments across their data plans with Airtel, Globacom and others preparing to roll out their new rates.
MTN Nigeria has revised prices, even going beyond the approved 50 per cent in some of its increment.
For internet data, MTN’s 1.8GB monthly plan is now 50 per cent higher than the previous rate at N1,500. Before now, the package was 1.5GB priced at N1,000.
In additional, the company has raised its 15GB plan to N6,500 from N4,500, while its 20GB plan has been adjusted to N7,500, up from N5,500.
Customers who use larger bundles will pay more comparatively as the 365-day 1.5TB plan jumped by 60 per cent from N150,000 to N240,000, and the 600GB 90-day plan also increased by 60 per cent from N75,000 to N120,000.
SWIFT Networks has also increased internet prices by 50 per cent across board.
Business Post gathered that other telcos will roll out the increment from this week. An insider told this newspaper that the others are waiting to see the reaction from other services before implementing.
Recall that the NCC announced its approval for a 50 per cent tariff increase for telecoms operators in the country, the first of such since 2013 on January 20. This followed a lengthy battle that involved the telcos request a 100 per cent increment.
The regulator said the price adjustment though lower than the “over 100 per cent requested by some network operators, was arrived at taking into account ongoing industry reforms that will positively influence sustainability”.
The regulator said the increase was pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA) to regulate and approve tariff rates and charges by telecommunications operators.
Technology
IBM to Exit Nigeria, Others from April 2025 Amid Low Sales

By Aduragbemi Omiyale
One of the global tech giants, International Business Machines (IBM), is planning to quit a few markets in Africa from April 1, 2025.
According to reports, IBM will leave Nigeria, Ghana and other key African markets because of its declining sales in the region.
The company has struggled to impress consumers because of stiff competition from rivals like Dell, Huawei and others with attractive products.
Its operations in Nigeria and other African countries will now be handled by MIBB, a subsidiary of the multinational conglomerate, Midis Group.
MIBB will sell a wide range of IBM products and services in Africa like software, hardware, cloud solutions, and consulting services.
IBM has had a significant presence in Nigeria for over five decades, playing a crucial role in the country’s technology landscape.
The company provided infrastructure and consulting services to key sectors, including banking, telecommunications, oil and gas, and government.
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