Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

News

Expert Urges More Investments in Technology in Solving Problems

Published

on

Kindly share this post

Mrs Roseline Ilori, a technology enthusiast, has reiterated the need for government at all levels as well as stakeholders in investing massively in technology; not just software development, but in robotics, artificial intelligence, bio-medicine, voice biometrics and a host of other technology spectra.

Ilori, the founder and Chief Executive Officer (CEO) of Bridge57 Solutions Limited, made the call in a statement in Lagos.

According to her, such investments will shore up manufacturing competitiveness via authentication and traceability of goods and services, improve physical security and cyber security, among others.

Ilori said that government needs to be more proactive in making the Nigerian technology environment more friendly, seeing that the growth and young people’s interest in technology were massive.

She noted that Nigerian technology experts were the most sought-after in developed economies as the relocation syndrome had taken up to half of the technology brains the country possessed.

“The fact is that the environment we are in is not conducive enough for technology to thrive, so the government has to do more in that regard to bring out more technology to the fore.

“The ‘Japa Syndrome’ has been a major challenge affecting our human capital potential, hence, the need to grow more of these professionals internally so that when some leave, many more would be around to keep the country going.

According to the Bridge57 boss, Nigeria still lags behind earnestly in terms of innovation as she submitted that, unlike the notion many are having, technology is quite different from innovation.

She noted; “In terms of innovation, we are still very far in Nigeria. For instance, while I had the opportunity to go through some training on innovation in some international organizations, I realized that many people talk about innovation but very few people do innovation as a lot of people don’t really understand what innovation means.

“For technology, yes we are doing well, but for innovation as a practice itself, we still lag behind. Innovation is not just about technology, it is deeper than that. Innovation can be applied to processes, products, marketing and to different areas of business models. But technology can use innovation, when people often mention innovation, people assume that it is technology, but they are two different things. They both need each other in a way to flourish.”

However, the technology expert also advised government to remodel the Nigerian educational curriculum across levels to accommodate the practical aspects of technology to engender early exposure to the nitty-gritty of technology and innovation.

She said that the need to expose, encourage and sensitise the Nigerian child through the educational system from a tender age, was due to the massive economic potential of technology and its ability to solve almost every problem across sectors.

“Technology as of today is beyond computers and smartphones as it encompasses a whole lot which if youths are properly exposed to practice can yield massive economic potential and gains for the country.

“We must, therefore, rework the curriculum to accommodate technology, innovation and robotics beyond the surface use of computers.

“In our universities, a lot is going on technologically that the government can take advantage of, but they must first invest enormous resources right from the universities to open the minds of students to the practical aspects of technology.

“More practical approach that is relatable to real life more than the abstract classes the Nigerian child is used to is what is needed to open up their minds to the endless possibilities of technology,” she said.

Ilori said that government funding upon disbursement must be put to good use to secure the future of technology and educate more persons that were willing to use their intelligence for the development of the nation.

She charged young girls with interest in the technology industry, perceived to be a male dominant industry, to take the bulls by the horn, even if they might be few in number and assert their competencies and capabilities.

“Funding is key and the cash flow is the blood of any business and this is necessary to build start-ups that are innovation-driven.

Speaking on Bridge57 Solutions, where she had implemented diverse business initiatives and products for several organizations, NGOs, and government parastatals using strategic foresight, drive and determination, Ilori said the organisation was established with the aim of organising workshops, using innovative practices, methodology and tools to improve the Nigerian technology environment.

“I have been in the technology space for 18 years now in Nigeria and several other countries in Africa where we have deployed a lot of solutions in the past. I decided to start Bridge57 Solutions because I saw that there are more problems to be solved in Nigeria and in Africa at large.

“Our problems are in abundance if I can put it that way. But where there are problems, there are opportunities as well.

“So I was looking for the opportunity to solve more problems on a more largest scale. That was one of the things that prompted me. I see there are lots of opportunities that would enable more entrepreneurs to be born.

“At Bridge57, there are two pillars; innovation and technology and in between them is digital transformation. Those are the two pillars our business is being built on.

“We have a lot of international partners that we work with that are technology providers. We partner with them in order to bring such technology that does not exist here. For instance, looking at voice biometric for example, we have a solution in voice biometrics. It would surprise you to know that our voices are as unique as our fingerprints.

“We can use that to help people using services but they are not very literate. Some people have problems with remembering their PINs, because they are not literate, and you see people that are not so literate telling people their passwords and therefore exposing themselves.

“These are some of the problems that this technology as simple as might seem can solve. Aside the voice technology, there is a technology that uses artificial intelligence, AI. There is a partner we are working with, we use what we call AI that can identify moving objects. It can actually tell if the person is a male or female. These are some of the innovations we do at Bridge57,” Ilori submitted.


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Continue Reading
Advertisement
Comments

News

Creative Economy Ministry Secures $300M Investments Commitment

Published

on

Kindly share this post

Hannatu Musawa, Minister of Arts, Culture, and the Creative Economy, has revealed that the ministry has secured over $300 million in investment commitments.

Musawa disclosed this at the Ministerial Press Briefing Session held on Friday in Abuja.

She emphasised that the government has set a goal of creating at least two million jobs within the creative industry by 2027.

According to her, “In just 18 months, we have secured over $300 million in investment commitments and established innovative funding mechanisms, including the Creative Economy Development Fund (CEDF).

“We have also initiated the development of key infrastructure projects, which are projected to generate at least two million jobs by 2027.”

The Minister further noted that President Bola Tinubu plans to unveil creative hubs across Nigeria’s six geopolitical zones in the coming months, positioning Nigeria as a global hub for creativity.

“Beyond the numbers, we have elevated Nigeria’s global cultural standing while ensuring inclusivity, empowering rural communities, women, and young people to participate meaningfully in the creative economy,”.

The Minister highlighted the significant role the creative economy will play in Nigeria’s future, particularly the music industry.

She pointed out that the government has identified five key segments within the music value chain production, marketing, sales, and others—that can generate over 500,000 new jobs by 2030, representing a transformative opportunity for Nigeria’s economy.

“A key initiative in this drive is the $200 million Creative Economy Development Fund (CEDF), managed by the African Export-Import Bank (AfreximBank).

The fund aims to provide affordable financing to creative businesses and entrepreneurs, empowering them to innovate, expand their operations, and contribute to job creation across multiple sectors such as film, music, fashion, and tourism.

The minister said in addition to funding, the ministry  is working on the Abuja Creative City project, which seeks to transform the capital into a vibrant hub for the creative sector.

“This project is expected to foster economic growth, create job opportunities, and showcase Nigeria’s diverse cultural heritage.

The Minister also emphasized the importance of effective policy formulation to foster the growth of the creative sector. Currently, the Ministry is evaluating 49 sub-sectors within the creative industries, with priority given to key areas such as music, film, fashion, art, and gastronomy.

“This targeted approach is aimed at driving sustainable development and further enhancing Nigeria’s cultural and economic standing on the global stage.

“Through these initiatives, the Nigerian government is taking significant steps to harness the untapped potential of its creative industries, paving the way for a more dynamic and inclusive economy.

As part of this effort, the Ministry, in collaboration with the private sector and led by the Nigerian Economic Summit Group, is working on creating a clear policy framework not just for the creative economy but also for the art, culture, and tourism sectors.

The Nigerian government is working on a series of policy reforms  National Intellectual Property Policy, which will soon be presented to the Federal Executive Council.

This policy aims to foster industry growth by securing intellectual property rights for creators. Additionally, the government is reviewing key policies such as the National Policy on Incentives for the Arts, Culture, and Creative Economy, which is designed to offer incentives and boost confidence among creative businesses.

Another important update is the review of the 2005 National Tourism Policy, intended to better support the tourism sector, which plays a crucial role in Nigeria’s cultural economy.

The government is updating the outdated 1988 National Policy on Culture and introducing a new Policy on Monetary and Credit Solutions to ensure financial support for creative businesses.

Alongside the Creative Economy Development Fund, these reforms aim to create a supportive environment for the sector to grow and position Nigeria as a major force in the global creative economy.

Musawa also announced the implementation of the Creative Economy Development Fund (CEDF), which aims to provide funding to creative businesses, drive innovation, and create jobs across multiple sectors.

Additionally, a global standard arena is under construction in Nigeria to host major music and cultural events, aligning with the country’s ambition to become Africa’s cultural hub.


Kindly share this post
Continue Reading

News

IFC Invests $5m in Husk Nigeria to Build 108 Solar Mini Grids

Published

on

L-r: Ethiopis Tafara, Regional Vice President for Africa, International Finance Corporation (IFC), and Olu Aruike, Country Director, Husk Power Systems, Nigeria during the signing of a $5m investment meant to expand access to reliable, renewable energy in Nigeria through IFC’s $250m DARES platform in Abidjan, Cote d'Ivoire
Kindly share this post

Husk Power Energy Systems Nigeria Ltd (Husk Nigeria), a subsidiary of solar mini-grid operator Husk Power Systems Inc., has received a $5 million investment from The International Finance Corp. (IFC), a member of the World Bank Group, with the support of the Government of Canada.

IFC Invests $5m in Husk Nigeria to Build 108 Solar Mini Grids

L-r: Ethiopis Tafara, Regional Vice President for Africa, International Finance Corporation (IFC), and Olu Aruike, Country Director, Husk Power Systems, Nigeria during the signing of a $5m investment meant to expand access to reliable, renewable energy in Nigeria through IFC’s $250m DARES platform in Abidjan, Cote d’Ivoire

The financing will support the rollout of Husk’s portfolio of solar hybrid mini grids in Northern Nigeria, helping address one of the country’s most urgent development challenges: access to electricity.

It marks the first investment under the IFC Distributed Access through Renewable Energy Scale-up (DARES) Platform, a $200 million debt facility approved in November 2024 to catalyze private sector solutions across West and Central Africa.

The DARES Platform complements the World Bank-financed Nigeria DARES Project, a $750 million initiative launched in December 2023 and implemented by Nigeria’s Rural Electrification Agency.

Together, these efforts aim to provide over 17.5 million Nigerians with new or improved electricity access through decentralized renewable energy (DRE) systems.

 

IFC’s financing package will enable Husk to develop and operate up to 108 mini-grid sites, resulting in around 28,750 new electricity connections and delivering clean, affordable energy to around 115,000 people and businesses.

The total project cost is estimated at $25 million. IFC’s $5 million package includes a $2.5 million senior loan from its own account and a $2.5 million concessional subordinated loan from the Canada-IFC Renewable Energy Program for Africa.

The facility is structured as a revolving loan, allowing Husk to repay and redraw funds multiple times during the project’s implementation.

“The DARES Platform is an innovative approach to tackling one of Africa’s most pressing challenges—energy access. By partnering with Husk, a leading renewable energy developer globally, through the first project under the DARES Platform, we are not only addressing the immediate electricity needs of underserved communities in Nigeria but also laying the foundation for a scalable model that can be replicated across the continent,” said Ethiopis Tafara, regional vice president of Africa, IFC.

“This innovative debt facility is exactly what the minigrid industry needs to scale — blended, long-term and affordable capital,” said  Manoj Sinha, Husk co-founder and CEO.

“Access to working capital is critical for sustained and rapid growth. Adding 108 new communities to our minigrid portfolio with IFC support is an important step toward our goal of deploying at least 250MW of decentralized renewable energy projects in Nigeria.” said Olu Aruike, Manager, Husk Nigeria.

 

 


Kindly share this post
Continue Reading

News

Stakeholders Seek Strengthening of Digital Infrastructure @ IoT West Africa

Published

on

Kindly share this post

Stakeholders in the emerging technologies, Data Centre and Power have stressed the need to strengthen the country’s digital infrastructure for the application of internet of Things, and artificial intelligence.

 

They spoke at this year’s IoT West Africa, Data Centre and Cloud Expo, co-located with Power and Water Nigeria organised by Vertex Next.

Abba Abubakar Aliyu, managing director, Rural Electrification Agency (REA) in his keynote address said that, for true sustainable development to take place in any sector, “we must create opportunities and possibilities for a strong and sustainable energy ecosystem. Within this ecosystem, digital infrastructure must leverage, or must be leveraged, as an enabler, not as an oversight”.

Speaking on the topic: “Building Digital Infrastructure for Sustainable Rural Electrification in Nigeria”, said that one of the most critical benefits of electrification and digital infrastructure nexus is the ability to enable remote monitoring of all grid installations, especially mini grids and solar home systems.

“So, in the past, the Rural Electrification Agency, which prides itself in over 600 mini grids across the country, had some challenges with respect to monitoring our systems real time.

“But with the advancement in the IoT system, IoT sector, as well as tech sector, we’re able to have sensors that report energy throughput real time. This is why the ability of digitally enabled real time tracking of generation, consumption and even technical faults provide us with the information needed to make better decisions on the go,” he said.

Dr. Aliyu who was represented at the event by Dr. Bala Tyoden, Project manager, Rural Electrification Agency of Nigeria, added: “For true sustainable development to take place in any sector, we must create opportunities and possibilities for a strong and sustainable energy ecosystem. Within this ecosystem, digital infrastructure must leverage, or must be leveraged, as an enabler, not as an oversight.

“We must understand that for digital infrastructure to thrive in rural education, policies must enable innovation. An example is the electrification act of 2003 that grants the rights to subnationals to joining the energy primary market so they can generate and distribute power now and other policy, all other policies in the pipeline to enable private sector participation in the sector.”

Dr. Aristotle Onumo, Director of Stakeholder Management and Partnerships at the National Information Technology Development Agency (NITDA) who spoke on “A Bird’s Eye View of IOT: Mapping the Future of Connected Intelligence in Africa”, said that the global IOT industry itself is growing, and it is estimated that by 2030, we are likely to have close about 29 billion connected systems across the globe, and which is an increase from 15.1 million in year 2020, think about the massive Increase.

Think about the quantum Leap and the global IoT market also is expected to support 1.6 trillion by the year 2025 that is at the end of this year, according to Mackenzie, the market itself is extended to exceed more than 1.6 trillion. And that’s the market we are in, and that is the environment we are operating.

The question is, what does this mean for Africa? What does this mean for Nigeria? Remember, Africa is about is a whole of our close about 1.4 billion people, and Nigeria, within that context, consists of about 14% of African population. Think about such a good population.

Think about what happens in Sub Saharan Africa, where the penetration of mobile penetration has increased, and that’s the Africa that we are, and it’s expected to grow up to a 88% by the year 2030, that is Africa for you.

And with the mobile penetration, with the kind of mobile infrastructure that is existing even Africa today, it provides a fertile ground for IOT. It provides a fertile ground for us to leap frog opportunity, not that we want to replicate the past, but to reinvent what the future looks like, and that’s what is important for us to consider, to think about, to imagine, to reason around.

Consider what happens in agriculture, which almost accounts 60% of employment in Africa. Think about the transformation I can take with smart technologies in agriculture, where IoT sensors can now measure oil motions, optimize irrigation and track livestock in a time. These are realities. They are not imaginary.

According to himAfrica currently accounts less, much more, less than any other continent in the global narrative. I’m not just talking about statistics. I’m not just talking about words or numbers to discourage us, but it is a call for action. What then do we think will be the economic impact of IoT in Africa?

According to World Bank reports, digital technologies alone could add plus about $300 billion in Africa GDP even by the end of this year. And IoT is at the heart of digital transformation. Mackenzie also has estimated that IoT has the potential of economic impact across the global market, exceeding 1.6 trillion naira and trillion dollars by the year 2025 with significant value in agriculture, logistics, energy, public health, all key priority in Africa. Imagine using predictive analytics from IoT sensors to reduce the cost of harvest loss.

Think about it in African countries where the harvest loss, especially in agriculture, is up close to 30 to 50% think about how you could use IoT for diagnosis to combat diseases that claim 1000s of lives every year. They are not just tech innovation. They are life saving devices.

He identified some challenges in the quest to reap the benefits of IOT such as connectivity gaps, especially in rural areas. “You agree with me that even in some rural areas, even in some areas, you see how 2G 3G some are struggling with 4G and a few they had where the 5G is actually working at this moment, when you think about the energy, it is a critical issue, not only In Nigeria, but across Africa, these connected devices need to be powered through networks.

So power is an essential issue. Is a challenge that we must overcome, cyber security and other governance. If we’re going to be connected across internet, connected across machines, machine talking to machines, then the issue of cyber security becomes an issue. Governance becomes very imperative.

Government comes in, has a great role to play in providing policies and guidelines that will help us to operate responsibly now help us to operate within the internet space in a manner that will serve and create value for the public, and perhaps most importantly, the skill gap. Studies have shown that, apparently, skill gap, not only in Africa, but across the globe.


Kindly share this post
Continue Reading

Trending