E-Business
Big Data, Analytics Revenues to Reach $260bn by 2022 – Report

Worldwide revenues for big data and business analytics solutions will total $166 billion this year, an increase of 11.7% over 2017.
This is according to International Data Corporation’s (IDC’s) Worldwide Semiannual Big Data and Analytics Spending Guide, which notes that global organisations are turning to high-level big data and analytics solutions to navigate the convergence of their physical and digital worlds.
Over the 2017-2022 forecast period, revenues for big data and business analytics solutions are expected to reach $260 billion in 2022, representing a compound annual growth rate (CAGR) of 12%, notes IDC.
“The industries making the largest investments in big data and business analytics solutions throughout the forecast are banking, discrete manufacturing, process manufacturing, professional services, and federal or central government.
“Combined, these five industries will account for nearly half ($81 billion) of global big data and analytics revenues this year.
“They will also be the industries with the largest big data and analytics opportunity in 2022, when their total investment will be $129 billion. The industries that will deliver the fastest revenue growth are retail (13.5% CAGR), banking (13.2% CAGR) and professional services (12.9% CAGR),” reveals IDC.
Opportunity for all
In terms of company size, the report found that very large businesses (those with more than 1 000 employees), will be responsible for nearly two thirds of the big data and analytics opportunity throughout the forecast period.
Small and medium-sized businesses will also be significant contributors to big data and analytics revenues, with nearly a quarter of global revenues coming from companies with fewer than 500 employees, according to the report.
Jessica Goepfert, programme vice-president, customer insights and analysis at IDC, says big data is becoming less of an experimental endeavour and more of a practical pursuit within organisations.
“This transformation takes a different shape, depending on the industry. For instance, within banking and retail, two of the fastest growth areas for big data and analytics investments are all about managing and reinvigorating the customer experience.
“Whereas, in manufacturing, firms are reinventing themselves to essentially be high-tech companies, using their products as a platform to enable and deliver digital services.”
Furthermore, the report found that two of the fastest-growing big data and analytics technology categories will be cognitive or artificial intelligence (AI) software platforms and non-relational analytic databases.
Industry adoption
Earlier this year, multinational computer technology corporation, Oracle forecast that 2018 will be the year when laggards finally make the move to cloud; late adopters of big data will see immense benefits straight away; and those using AI will drive the most insights.
“The telecommunications and banking industries were the early adopters of big data in the MEA region. In banking, big data is being used to create a complete profile of the customer from multiple sources of data, including different bank accounts, spending habits and open social media profiles. Industries like agriculture, retail and mining could benefit greatly through implementing big data strategies this year,” notes Oracle.
E-Business
INEC Sets Up AI Division to Strengthen Electoral System

Independent National Electoral Commission (INEC) has announced the establishment of an Artificial Intelligence (AI) Division within its ICT Department.
This marks a significant stride toward enhancing electoral integrity, efficiency, and innovation in Nigeria’s democratic process.
This decision was reached at the Commission’s regular weekly meeting held in Abuja, following a series of consultations and engagements on the global and continental impact of AI on elections.
In a statement issued by Sam Olumekun, national commissioner and chairman of the Information and Voter Education Committee, INEC underscored that the growing relevance of AI in electoral matters necessitated a proactive institutional framework to manage both the risks and opportunities it presents.
“Our interactions with electoral bodies across Africa highlighted both the risks of AI—such as fake news and content manipulation—and the vast potential it holds for data-driven decision-making, risk mitigation, automated voter services, and geo-spatial intelligence for logistics,” Olumekun noted.
According to him, the newly created division will centralise the Commission’s AI efforts, ensuring a harmonized approach to deploying intelligent systems that enhance decision-making, improve voter engagement, and boost the credibility of the electoral process.
“The creation of this division puts the Commission at the forefront of institutionalizing AI capabilities in electoral management.
It is also part of our ongoing reforms in areas where administrative action is sufficient to drive change,” he said.
He added that the AI Division will help INEC better coordinate its existing technological investments while providing safeguards against the misuse of AI technologies.
“We are positioning ourselves to maximise the positive impact of AI while mitigating its negative implications. This step strengthens the credibility and transparency of elections in Nigeria,” Olumekun concluded.
The initiative, INEC emphasised, reflects its commitment to embracing innovation in safeguarding democracy and improving electoral services nationwide.
E-Business
CAC, NIBSS Unveil Platform for Data Access to Private Firms

Corporate Affairs Commission (CAC) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) has unveiled a new Application Programming Interface (API) integration system to allow private firms access company data from the Commission’s database.
Hussaini Ishaq Magaji (SAN), registrar general of CAC, who spoke in Abuja at the unveiling said the system would give selected private organizations access to CAC services through technology-based companies, called “super agents.”
“This is a practical step to show that the Commission is committed to meeting the expectations of our customers,” he said.
Magaji explained that the integration allows the agents to retrieve data from the CAC database for use in specific client requests, outside the standard services provided by the Commission.
“Before now, only a few government agencies had this integration, especially those involved in investigations, anti-money laundering, and terrorism financing. Now, private companies that meet the criteria can also access it,” he said.
He said the system complies with the Nigerian Data Protection Act 2023, and information such as residential addresses, phone numbers, and dates of birth may be restricted.
“This is a call to law firms and companies with the right technology. We’ve started with NIPS because of their credibility. Embassies and banks can now authenticate company records directly through them.”
“There are prescribed fees. We already collect them on our portal, and now customers can also pay through these agents,” he explained.
He named NIPS, MoneyPoint, and OPE as some of the companies involved.
“OPE and MoneyPoint handle only registrations. But NIPS has moved further into validation and verification,” he said.
Ngover Ihyembe-Nwankwo, executive director at NIBSS, who represented Premier Oiwoh, managing director, said the service allows secure and efficient data verification.
“This is the result of years of effort to connect our systems with CAC. It will help users verify data within the limits of data protection laws,” she said.
She said the move is a way to lower costs and promote interoperability across the financial sector.
E-Business
FG Launches Online Citizenship, Business Management Platform

Ministry of Interior has announced the launch of a new Online Citizenship and Business Management Platform in line with the Renewed Hope Agenda of President Bola Tinubu.
A statement signed by Dr Magdalene Ajani, permanent secretary, Ministry of Interior’s said the initiative forms a key part of its ongoing reforms aimed at promoting transparency, enhancing operational efficiency, and significantly improving service delivery to the public.
The new digital platform is designed to streamline the application and processing of citizenship and business-related services, ensuring faster turnaround times and improved user experience.
The platform allows users to apply for and manage business permits, ensuring that both local and foreign businesses operate legally in Nigeria.
It includes an Expatriate Quota System to manage work permits for foreign employees, helping companies hire skilled workers while complying with Nigeria’s immigration laws.
The Citizenship Administration and Management System provides a streamlined online process for applying, tracking, and managing Nigerian citizenship applications and related services.
Members of the public, corporate entities, and other stakeholders are expected to access the platform through the ministry’s website: https://interior.gov.ng , Direct Portal Access: https://candb.interior.gov.ng , or contact candb-support@interior.gov.ng for support and inquiries.
“The Ministry of Interior remains committed to establishing a more efficient, transparent, and secure framework for citizenship administration, while continuously enhancing service delivery through digital transformation,” the statement read in part.
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