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Covid-19 Presents Opportunity to Reset Africa- Elumelu

Tony Elumelu, chairman of the United Bank for Africa (UBA) Plc, has stated that the Coronavirus Pandemic currently ravaging the world presents an opportunity to reset the African continent so that Africans can be empowered to become more productive and self reliant.

Tony Elumelu, chairman of the United Bank for Africa
He said this at the high-level Roundtable discussions made up of African leaders including Dr. Ngozi Okonjo – Iweala, special envoy of the African Union on Covid-19 and Tidjane Thiam who is also a Covid-19 Special Envoy responsible for mobilising international economic support for Africa.
During the session titled ‘Resilient World: An African call for a new world order’, Elumelu stated “I see this pandemic as an opportunity to reset Africa.’ Whilst pointing out that Africa as a continent has all it takes to emerge into a strong digital economy, the UBA Group Chairman advocated a martial plan that will galvanise the entire continent and make Africa less dependent on the ‘circularity of debt’ from developed nations, which according to him, has been a major setback for decades.
He said, “I feel that as we engage the rest of the world in providing relief, we need to look for a more fundamental solution to Africa’s challenges. I have often argued for a martial plan overtime. We need to mobilise everyone. If we have a martial plan that mobilises resources to address particular issues, then we can mitigate against this constant begging for assistance.”
Explaining further, Elumelu pointedly said, “The truth is that we have resources to help mobilise people. As the founder of the Tony Elumelu Foundation, we committed to endow $100m to support young African entrepreneurs and we have been seeing the positive results this has yielded so far. It is evident that if we can fix access to electricity, ensure stability of the macro-economic environment, ensure prioritisation of the youth, empower our small and medium scale enterprises and fix youth migration, then we are in for a better and more resilient economy’.
“There is the urgent need to prioritise our youths and empower our SMEs. The people who work hard need to be encouraged,” Elumelu noted passionately.
Tidjane Thiam who supported what Elumelu had proposed, said that rather than depend on international assistance at every point, there is the need for governments and institutions to invest in activities that will prioritise the youths and create a better enabling environment.
“I totally agree with Tony Elumelu. The major challenge is that we do not see enough entrepreneurs. Similar to what obtains in Asia and Europe, there is the need to promote a class of Entrepreneurs to drive the African economy. we need to groom more Tony Elumelus’ from Africa’ he said.
Tidjane continued, ‘We know what needs to be done. We need government and multinational institutions to bring in capital so that there will be investment in health, infrastructure and the like. We do need to get rid of this debt cycle because constant rescheduling and begging for relief for debts is not good for us as a continent,”
Okonjo-Iweala, on her part, called for a system where youths and women will be empowered to create and produce more to boost the African economy.
Whilst calling on private and government parastatals to engage in meaningful partnerships that will help to galvanise job creation and entrepreneurship among youths in Africa, she said, “As Tony pointed out, we can see this pandemic as an opportunity for the continent. We have the African Free Trade Agreement, and we have to make it real.
“We have to specialise our countries to manufacture the things we need so we can trade with others. We need to produce good jobs for our young people. We need to empower our women and youths and put them at the centre. It is said that Africa would have the largest number of youths in the world by 2050, so we need to fix this,” she noted.
The roundtable which was organised by the New York Forum Institute, also had in attendance African Heads of States including President Mahamadou Issoufou of Niger; President Uhuru Kenyatta of Kenya; President Alassane Ouattara of Cote d’Ivoire; President Macky Sall of Senegal and President Julius Bio of Sierra Leone;
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HCSF Describes Galaxy Backbone as a Strategic Partner in Civil Service Digitalization Reforms

In a significant move towards accelerating the Federal Government’s digital transformation agenda, the Head of the Civil Service of the Federation (HCSF), Mrs. Didi Esther Walson-Jack, paid a strategic working visit to Galaxy Backbone (GBB) Limited, Nigeria’s foremost ICT infrastructure and shared services provider.
The visit, which took place at GBB’s National Shared Services Centre (NSSC) and Corporate Headquarters in Abuja, forms part of the HCSF’s efforts to deepen collaboration and assess the technological infrastructure supporting the government’s ongoing digitalisation reforms across Ministries, Departments, and Agencies (MDAs).
Accompanied by the Permanent Secretary of the Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE), Mr. Adeladan Rafi’u Olarinre, and a delegation of Permanent Secretaries and Directors from the Office of the Head of the Civil Service, the visit featured an extensive tour of GBB’s cutting-edge Digital Infrastructure facilities. These included its Network Operations Centre (NOC), Security Operations Centre (SOC), and Uptime Institute Certified Tier III Data Centre; all built to ensure a secure, scalable, and sovereign digital infrastructure for Nigeria’s public sector.
In his welcome address, Mr. Adeladan Rafi’u Olarinre described Galaxy Backbone as a critical institution under the supervision of FMCIDE, tasked with providing the nation’s core digital infrastructure and shared ICT services. “Today’s visit is an important opportunity to showcase the significant progress GBB has made in building the infrastructure necessary for a truly digital government,” he said.
“I believe this engagement will foster stronger alignment and collaboration between MDAs and GBB as we move towards a more connected and efficient public service.”
The Managing Director/CEO of Galaxy Backbone, Professor Ibrahim A. Adeyanju, expressed appreciation for the visit, noting its alignment with GBB’s mandate to support Nigeria’s digital transformation goals.
“A visit of this nature by the Head of the Civil Service is highly symbolic,” he remarked. “It reinforces the central role that the Civil Service plays in national development and highlights the importance of strategic ICT infrastructure in driving effective governance.”
He went on to emphasize that GBB’s mission to design, build, and manage Nigeria’s digital infrastructure aligns seamlessly with the Civil Service’s digital reform agenda.
“Our platforms; including the 1Government Cloud, GovMail, and our extensive fibre optic network present in 28 states, are designed to support a digitally enabled, secure, and efficient government,” Prof. Adeyanju added.
He also called for greater collaboration with the Office of the Head of Service to drive the adoption of GBB’s infrastructure, particularly the fibre optic connectivity already terminated at Federal Secretariat buildings across 28 states of the country. He further appealed for support in expanding Local Area Networks (LANs) in the Federal Capital Territory (FCT) secretariat buildings to integrate more MDAs into the digital ecosystem.
In her remarks, Mrs. Walson-Jack commended the world-class infrastructure and strategic digital solutions developed by Galaxy Backbone, stating that her perception of the agency had been greatly enhanced following the tour.
“This visit has opened my eyes to the enormous potential and capacity that Galaxy Backbone brings to Nigeria’s digital journey,” she said. “I now see GBB not just as an ICT agency, but as a strategic partner in the realisation of our dream to build a modern, agile, and paperless civil service.”
She specifically praised GBB’s support for the “War Room” initiative, the widespread deployment of GovMail — currently serving over 34,000 civil servants, and the agency’s high-speed fibre connectivity provided during the 2025 International Civil Service Week hosted by her office.
Reaffirming her office’s commitment to achieving a fully paperless civil service by December 31, 2025, the Head of Service expressed optimism that this goal is attainable with stronger collaboration and technical support from GBB.
She also highlighted several strategic areas where partnership with GBB is critical, including:
- Full implementation of the 1Government Cloud to host and manage MDA operations.
- Adoption of an Enterprise Content Management System (ECMS) to streamline records and workflow automation across MDAs.
- Synergy between the 1Government Cloud Academy and the Civil Service Academy to enhance capacity development.
- Training and onboarding of civil servants on innovative tools such as Service-Wise GPT – Nigeria’s AI-powered platform designed to transform public service delivery.
Mr. Mohammed Ibrahim Sani, Executive Director of Finance and Corporate Services at GBB, in his vote of thanks, expressed deep gratitude to the Head of Service and her delegation for taking the time to visit and engage with the team. He reiterated GBB’s unwavering commitment to partnering with all stakeholders to deliver inclusive, resilient, and forward-looking digital solutions for the Federal Government.
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Festive Seasons Trigger 400% Spike in Livestock Prices Across Nigeria’s North East — Moniepoint Study

A new study by Moniepoint Inc., Africa’s leading financial technology company, has revealed that livestock prices in Nigeria’s North East markets surge by up to 400% during festive seasons, driven by high demand from cities like Lagos, Port Harcourt, and Onitsha.
The report, which focuses on informal market dynamics in Borno State, shows that traders at Kasuwan Shanu in Gamboru dispatch an average of 50 trucks daily during peak periods such as Eid al-Adha and Christmas, with goat prices rising by 400–470% and rams by over 230%.
Beyond seasonal spikes, the study highlights a shift toward investment-minded trading, where livestock is raised in advance to boost resale value. This approach is helping traders build more stable and profitable businesses, despite the region’s history of conflict and economic volatility.
Key findings include:
- 51.2% of traders source goods from Maiduguri, reinforcing its role in Nigeria’s food supply chain
- 45% of traders now accept digital payments, with mobile transfers and POS usage rising sharply since the 2023 cash crunch
- Informal credit and trust-based transactions remain dominant, often conducted via phone calls and voice notes, without formal contracts
Moniepoint CEO Tosin Eniolorunda said the company’s tools are helping bridge long-standing gaps in access to finance: “This shift isn’t just tech-enabled — it’s structurally impactful. We’re helping build an economy where everyone can participate.”
The study joins Moniepoint’s growing portfolio of thought leadership on Nigeria’s informal economy, following previous reports on Onitsha Market, community pharmacies, and women-owned businesses.
News
FG Eyes 8,000MW Power Boost in 18 Months with Grid Overhaul

Federal Government has expressed optimism that improved management of the national power grid by the Nigerian Independent System Operator (NISO) could increase electricity supply to 8,000 megawatts within the next 12 to 18 months.
Speaking at a leadership retreat to onboard NISO’s top management in Abuja, the Director General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Gbeleyi, noted that although Nigeria’s installed generation capacity exceeds 14,000MW, actual daily output has hovered around 5,500MW.
Gbeleyi emphasized that with more efficient grid operations and increased investments in transmission and distribution infrastructure, the power sector is poised for substantial improvement.
“As an independent entity, NISO now carries the critical responsibility of managing the national grid with impartiality and integrity. It must ensure non-discriminatory access, efficient dispatch coordination, and fair market settlements—free from undue influence or conflicts of interest.
“Currently, about 5,500MW of power is being wheeled daily, compared to a nameplate generation capacity of over 14,000MW. With the right investments and enhanced grid resilience, it is realistic to project a 50% increase in supply within 12 to 18 months,” he said.
Gbeleyi also revealed that the Federal Government has secured a $500 million loan from the World Bank to support the upgrade of the distribution infrastructure. Under this initiative, 3.2 million electricity meters will be deployed across Nigeria, with an additional 2 to 3 million meters to be provided through a separate presidential initiative.
Chairman of the NISO Board, Dr. Adesegun Akin-Olugbade, stressed the significance of NISO’s independence following its unbundling from the Transmission Company of Nigeria (TCN).
“NISO is not just a new institution; it represents a new approach—an independent system operator, a neutral market coordinator, and a strategic planning authority. Our responsibilities span real-time grid operations, long-term system planning, and the development of the electricity market.
“These are not peripheral tasks—they are core to national stability. When power fails, everything else suffers: industry, healthcare, education, even security,” he said.
Also speaking, NISO Managing Director/CEO, Engr. Abdu Bello, affirmed that the 8,000MW target is achievable within the projected timeframe.
“We must stay focused, get our internal structures right, and attract private sector investment. This retreat is part of the strategic planning process. With a clear direction and commitment, the goal is within reach,” Bello stated.
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