E-Business
Big Data is Core Economic Driver When Harnessed-Oloko
Abayomi Oloko, manager, Information Technology (IT), Nigerite Limited has identified “Big Data” as now an economic driver waiting to be harnessed in the country.
He however, noted that the private sector has the potentials to drive lead in the system as waiting for the government will lead to retrogression.
“Nigeria will be way behind other smaller countries if we continue to wait for the government” he said.
Oloko bared his mind during the recent International Data Corporation (IDC) Big Data Round table held in Lagos.
He said: “There are a lot happening in the country; the traditional way of thinking that technology will come from Europe is diminishing. Nigerians are far-way ahead of some of these countries we perceived as giants in technology or software. What we need is to harness what we have and make use of them.
“Big data is not actually software rather it is generated from unstructured sources like the social media. For instance, corrupt people are ‘tried’ in the social media. What we are discovering is that the social media is paying a lot of roles in the country, but who is ‘harvesting’ those data?
“People have installed capacity long time before the big bang in big data, what is happening is that some sectors like the Telecom are now drivers of big data. Those days you needed to have a computer, seat down and connect before you can surf the internet. In those days of cyber café, but things have changed, tremendously. Today, in the convenient of your room or can connect via your mobile phone to blog, twit, facebook commenting, updating, etc; so in as much as they are drivers for big data they lack the capacity for installed data”.
Speaking on big data and cyber security, he admitted that the avenue will exposes individuals and corporations to security issues.
“And there is no one stop shop for cyber security and that is where policies come in to play. For the public sector, it may not be able to be implemented. But for the need for the private sector cannot be over emphasized. There need to be policy in place to guide the operators’ actions and peg them to implementing standards,” Oloko said.
On the sectarian challenges, the Nigerite IT Manager said that, basically, Nigeria is being bombarded from the outside world.
“The perception that technology still resides aboard is a big challenge. There are too much happening at home; gurus who have never traveled outside the shores of Nigeria but they are operating at a very high level in technology world. So lack of understanding has led to non-recognition of these people by the society.
“Government seems to have the notion that the only way to create jobs is to start a new parastatal, but you cannot create even up to one percent of the job. But when the right policies are in place you end up creating different platforms for people who have the capacity to create the jobs in diverse ways in a very structured way,” he maintained.
National Insurance Commission (NAICOM) has urged Nigerian insurance companies to develop and introduce cyber insurance products.
This is in response to the escalating digital risks accompanying global digitalization.
This initiative aims to provide coverage against cyber threats and data breaches, ensuring that businesses and individuals are protected in the evolving digital landscape.
To facilitate this development, NAICOM is collaborating with the National Information Technology Development Agency (NITDA) and the Nigeria Data Protection Commission (NDPC).
This partnership seeks to promote cyber insurance and ensure compliance with Nigeria’s Data Protection Regulations, emphasising the importance of data protection training for industry practitioners.
Despite the growing threat of cybercrime, cyber insurance remains underutilised in Nigeria. Industry reports indicate that many businesses and individuals overlook the importance of cyber insurance, even as global cybercrime losses are projected to reach $10.5 trillion by 2025.
NAICOM’s directive underscores the need for the insurance industry to adapt to the digital era by offering products that address contemporary risks, thereby enhancing the resilience of Nigeria’s digital economy.
Google has increased the price of its Google One subscription in Nigeria.
The tech giant, in a note to its customers, said, “Price will automatically increase to N1,900/month on 28 Mar 2025 for your Google One subscription. Cancel at any time in Google Play.”
The old price was N1,200. Google One, a cloud storage service offered by Google LLC, provides users with a centralised platform to manage their storage across Google Drive, Gmail, and Google Photos.
It added that subscribers who do not cancel their subscription will be charged automatically on the payment method they provided.
In the world of technology and entrepreneurship, few names resonate as powerfully as Mrs. Chioma Ekeh, CEO of TD Africa, Africa’s leading technology distribution powerhouse.
Mrs. Chioma Ekeh, CEO of TD Africa
A media-reclusive entrepreneur and quiet achiever, she has made a name for herself not with loud proclamations but through consistent actions that have shaped the trajectory of the continent’s digital economy.
She has steered the company to unprecedented heights, forging strategic partnerships with global giants such as HP, Microsoft, Apple, Starlink, IBM, Dell Technologies, Ring (by Amazon), Cisco, Lenovo, APC by Schneider Electric, Samsung, Bosch, Philips, Logitech, and Vivo.
These collaborations have not only strengthened TD Africa’s position as a market leader but have also contributed to the growth of Africa’s tech ecosystem.
At the recently held Accra Synergy Summit, a high-profile event held in Ghana that brought together top strategic partners and Original Equipment Manufacturers (OEMs), Mrs Ekeh made a bold declaration: “We are no longer waiting for change — we are driving it. We are no longer spectators in the digital revolution — we are architects, engineers, and visionaries shaping the future.” This statement, emblematic of her visionary leadership, underscores her commitment to driving Africa’s tech renaissance.
Ekeh’s words are not mere rhetoric; they are backed by tangible achievements and a deep understanding of Africa’s digital potential. The data speaks for itself.
According to the International Finance Corporation (IFC), Africa’s digital economy is on track to reach $180 billion this year, with projections indicating it will soar to an astonishing $712 billion by 2050.
This growth is not just an increase in numbers — it signifies a paradigm shift in how Africa engages with technology and innovation.
With over 570 million internet users today, Africa is undergoing an unprecedented digital awakening, a number expected to double by 2030 according to the World Bank.
From financial inclusion to business automation, Africa is embracing the digital age at an accelerated pace, with 70% of global mobile money transactions already occurring in sub-Saharan Africa.
This widespread adoption is a testament to the ingenuity and resilience of African entrepreneurs and businesses.
The continent’s tech ecosystem is also attracting significant global attention. In 2022 alone, African tech startups secured over $6.5 billion in investments, a clear testament to the world’s belief in Africa’s digital future.
Ekeh’s message is clear: Africa’s future is bright but requires collective effort.
Rapid transformation does not happen in a vacuum. It is built on strategic collaborations and forward-thinking leadership.
According to Ekeh, “This renaissance is not happening in isolation. It is built on the foundation of strong partnerships. It is fuelled by collaboration — between businesses, governments, and technology enablers like TD Africa. Each of us has a role to play in ensuring that Africa doesn’t just adopt technology but creates, innovates, and leads.”
Her words serve as a rallying cry for businesses, governments, and individuals to strengthen partnerships, increase investments, and take bold steps toward excellence. “Africa is no longer just a consumer of technology. Africa is a builder. Africa is no longer following global trends. Africa is setting them. Africa is no longer waiting for the future. Africa is the future,” she concluded.
Chioma Ekeh’s leadership and vision are a testament to what can be achieved when passion, innovation, and collaboration come together.
As Africa continues its journey toward a tech-driven future, her words and actions remind us that the power to shape tomorrow lies in our hands today.
TD Africa has remained at the forefront of Africa’s tech revolution as the market leader in technology distribution.
Under Ekeh’s leadership, the company has not only expanded its portfolio of global partners but has also facilitated the seamless deployment of innovative tech solutions across various sectors.
By empowering businesses with cutting-edge technology, TD Africa is laying the groundwork for an Africa that does not just consume technology but pioneers it.
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