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FG Targets $6Bn Revenue from Blockchain Technology

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National Information Technology Development Agency (NITDA) has said that Nigeria plans to generate over six billion dollars through blockchain technology by 2030.

FG Targets $6Bn Revenue from Blockchain Technology

Mr. Kashifu Inuwa, director-general, NITDA, said this at a stakeholders’ engagement for the review of the National Blockchain Adoption Strategy Framework in Abuja on Thursday.

Inuwa said that the blockchain was among emerging technologies that had contributed to the growth of economies globally, saying that Nigeria will not be left out.

“We see the need for us to position our country well so we can capture value from the blockchain.

“There is a recent publication by PricewaterhouseCoopers (PwC), an international institution that indicated that in the next 10 years, blockchain is going to contribute 1.76 trillion dollars to the global Gross Domestic Development by 2030.

“We want Nigeria to be strategically placed to capture value from this economic potential of blockchain.

“Based on the PwC analysis, China is going to get the highest net worth potential from blockchain technology, because it is projected that by 2030, China will capture over 460 billion dollars.

“In Nigeria, looking at our youthful population, which is mainly digitally native and with our position in Africa, we are looking at how we can get at least around six to 10 billion dollars by the year 2030,” he said.

Inuwa said that the target was achievable because Nigeria’s payment and financial services were huge, while the country had been located as a hotspot for FinTech in Africa.

He added that blockchain technology could be achieved through provincial services, payment services, digital identity, customer engagement, contract and dispute resolution applications, among other strategies.

The director-general said that it was important for Nigeria to discover its competences and adopt the application that could generate income.

He also said that blockchain technology interfaced with the eight pillars of the National Digital Economy Strategy and Policy towards building a digital economy.

Inuwa called on stakeholders to fashion out flexible and implementable strategies for immediate execution that government can leverage on for job creation.

“We are looking at coming up with a strategy to help the country capture value from financial services,land administration, education and health care.

“Blockchain is going to play a key role in terms of creating, tracing products and services, ” he said.

Inuwa said that the COVID-19 pandemic had forced people and nations to devise secured ways of transacting businesses and that blockchain technology provided such an opportunity.

Dr Usman Gambo, director, IT Infrastructure Solutions, in his address, said the adoption of blockchain technology was in line with the policy of creating a digital economy for the benefit of citizens.

Gambo said the mechanism of blockchain was complex, but the benefit outweighs the challenges.

He said that the technology if adopted must be regulated to avoid abuse by Ponzi schemes and other malicious technology financial platforms.

The director said that stakeholders’ contributions would give the country directions on how to adopt the technology.

Mr Abdulsalam Umar, a Blockchain Expert, while reviewing the strategy document, said the benefits of the technology included reduced budgeting cost, ensuring security and globalisation.

Umar added that the technology could help create jobs and new business models in addition to ensuring transparency in governance.

He said that adopting it would require a legal framework to avoid potential risks and ensure that the country was operating a common global standard.

The expert added that the technology was beneficial because it could make huge contributions to the country’s Internally Generated Revenue.

Goodwill messages were delivered at the event by representatives of the Central Bank of Nigeria (CBN), Security and Exchange Commission (SEC) and Nigerian Inter-Bank Systems (NIBSS), among others.

 

 


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Again, Labour Fumes, Threatens Shutdown of Telcos over Non-Implementation of 15 Percent Tariff Reduction

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Nigeria Labour Congress (NLC) is threatening to shut down operations of telecommunications companies over their refusal to comment on the 15 percent reduction in telecom tariffs.

Again, Labour Fumes, Threatens Shutdown of Telcos over Non-Implementation of 15 Percent Tariff Reduction

Recall that that organised labour, through the NLC, forced the federal government and NCC to reduce the telecommunications tariff hike from 50% to 35% after threatening to shut down telecom operations and the NCC in response to what it saw as exploitative economic policies amidst excruciating suffering, hardship, and deepening poverty.

The government had previously formed a 10-member committee, consisting of five government and NLC representatives, to deliberate on the thorny topic of tariff hikes within two weeks and report back before making a final decision on the new telecom tariff structure.

Consequently, on Friday, February 21, 2025, the committee, at a meeting conducted in the office of the National Security Adviser (NSA) that lasted nearly three hours, decided on a 15 per cent tariff cut.

According to reports, in accordance with the conditions of the agreement, an official communiqué announcing the tariff reduction was scheduled to be released on Saturday, February 22.

According to Chronicle,iIt was said that the meeting began at 4:00 p.m. and concluded around 7:00 p.m., during which NLC representatives insisted that the tariff hike be withdrawn.

According to sources, after significant pressure from NLC representatives in the 10-man committee, the government and NCC gave up and agreed on the 15% decrease, which the government or NCC should have announced the next day.

However, at the time of this report, no such announcement has been made.

Leaders of the labour union are not taking the government’s failure to announce or implement the 15% tariff decrease lightly, suspecting that they have been duped.

The Labour leaders have therefore resolved to directly confront the NCC and telecommunications operators next week.

Though it has been reported that the date for the start of the industrial action against the NCC and telecom providers has been set and mobilisation is underway, the information is being closely guarded.

One of the leaders of the NLC stated that “We have received directives to commence mobilisation since last week. In fact, the date for the commencement of industrial action against the NCC and telecommunication operators’ offices across the country has been fixed. We have been warned not to disclose the date because the plan is to take all concerned by surprise. We are not giving any notice because we thought we had resolved this matter over a month ago. It is as if we have been scammed. Therefore, we have decided to confront the matter head-on.”

On February 12, the NLC expressed outrage over telecommunications companies’ tariff hikes, despite an earlier agreement with the Federal Government and the NCC.

According to the Labour union, “If the telecommunications companies fail to revert to the old tariff by the end of February 2025, a total shutdown of their operations nationwide will commence on March 1, 2025.”

To demonstrate its seriousness, the NLC declared that, as a first step in resisting the arbitrary tariff hike, it directed that workers and other willing citizens boycott the services of MTN, AIRTEL, and GLO daily between 11:00 a.m. and 2:00 p.m. until the end.

On Tuesday, February 11, NLC leaders issued a communiqué at the conclusion of their Central Working Committee (CWC) meeting in Lokoja, Kogi State, urging workers and citizens to suspend data purchases from telecommunications companies, which have also become one of their most effective tools for exploiting Nigerian citizens.

The communiqué, signed by Joe Ajaero and Emma Ugboaja, Congress’ President and General Secretary, respectively, instructed NLC State Councils and industrial union affiliates to quickly sensitise and mobilise their members and the general public in their jurisdictions.

 


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Ebehijie Momoh, CEO of AfriGOPay to Deliver Keynote at PAFON 2.0

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Ebehijie Momoh (Mrs), the Managing Director and Chief Executive Officer of AfriGOPay Financial Services Limited (AFSL), a subsidiary of NIBSS, has been announced as the keynote speaker for the second edition of Payments Forum Nigeria (PAFON 2.0).

PAFON 2.0 Ads

PAFON 2.0 will be held on Thursday, April 10, 2025 at the Function Room 1, Oriental Hotel, Lekki Road, Lagos by 9am (WAT).

Register here to attend: https://shorturl.at/IPOjA

The keynote speaker alongside the special guest, Uche Uzoebo, the MD/CEO of SANEF, and others lined-up for the Forum, will focus on the theme: “Bridging the Customer Experience Gap for Financial Inclusion Using AI”, which underscores the urgent need to safeguard digital transactions against emerging threats while ensuring seamless financial inclusion and innovation.

Mrs Momoh is leading AfriGO vision to deliver a seamless, secure and efficient payment card scheme which facilitates faster transactions, reduces card operating costs to enhance the overall user experience for stakeholders, partners, and cardholders.

With over 30 years of progressive leadership experience in the Nigerian financial and payment industry, she has a distinguished career marked by strategic vision and a commitment to delivering exceptional results.

She has consistently demonstrated her ability to drive large-scale operations, enhance profit and loss growth, and lead high-performance teams.

Also, Mrs. Uche Uzoebo is a passionate and renowned expert in financial inclusion, digital transformation, inclusive finance and women empowerment in Nigeria.

Under her leadership, SANEF Limited is committed to achieving excellence, greater growth, development and expansion to stakeholders in the ecosystem.

Speaking ahead of PAFON 2.0, Mr. Chike Onwuegbuchi, the co-convener, stated: “As Nigeria accelerates its transition to a digital economy, ensuring trust and security in payments has never been more critical. PAFON 2.0 will serve as a pivotal platform to address these challenges and unlock opportunities for a more resilient and inclusive financial system.”

PAFON 2.0 is open to payment service providers, fintech firms, banks, regulatory bodies, cybersecurity experts, and all stakeholders invested in the future of digital transactions in Nigeria.

Attendance

Register to Attend: https://shorturl.at/IPOjA


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Everything You Need to Know About MTN’s MIP 2025 Fellowship Webinar

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As the MTN Media Innovation Program (MIP) 2025 prepares for another cohort, aspiring applicants have a unique chance to gain firsthand insights into this transformative fellowship. On Friday, March 28, 2025, at 11:00 AM WAT, MTN Nigeria, in partnership with the School of Media and Communication (SMC) at Pan-Atlantic University (PAU), will host a webinar featuring past fellows and PAU faculty. The session will explore the program’s curriculum, application process, and the career-defining opportunities it offers for media professionals.

The webinar, designed for journalists, broadcasters, content creators, and digital storytellers, will offer a deep dive into the fellowship’s structure, the curriculum, hands on practicals and also what to expect during the international study visit to South Africa, and how the program equips media professionals with the skills needed to thrive in an evolving industry.

For many media professionals, the MIP fellowship has been a turning point. Past fellows will share personal experiences, discussing how the training at PAU, exposure to global media practices, and networking opportunities with industry leaders helped shape their careers.

The speakers include Sakina Ahmad, a graduate of the Kano State Polytechnic and a reporter at FRCN, Fombina Fm Yola. Frank Eleanya, a senior reporter at TechCabal, and a seasoned technology and innovation journalist with extensive coverage of the Nigerian and West African tech ecosystems and Ebunoluwa Dosumu, award-winning TV presenter and producer, a content creator/brand strategist at WorldPR Media. Nifemi Oguntoye, the deputy head of presentation at TVC Communications will also speak during the session.

Dr. Ikechukwu Obiaya, Dean of the School of Media and Communication at PAU, emphasised the program’s commitment to nurturing media professionals: “Given the challenges of today’s fast-changing media space, there is an ever-greater urgency to cultivate a new generation of media professionals who will drive innovation and excellence to meet today’s media needs. SMC will leverage its extensive experience in training media professionals to equip this next cohort. And we will do this with our usual emphasis on creativity and ethics.”

With thousands of applications expected, the webinar will also walk participants through the step-by-step application process, offering tips on how to craft a compelling application, what the selection committee looks for, and how to stand out as a candidate.

Faculty members from PAU’s School of Media and Communication, who play a key role in the program’s curriculum, will also shed light on the learning modules, workshops, and hands-on training that MIP fellows receive.

The MIP webinar is free and open to all media professionals, offering a rare chance to engage with alumni, faculty, and MTN executives in an interactive session.

As the application window for MIP 2025 remains open, this webinar serves as the ultimate guide for anyone looking to take their media career to the next level. With limited spots available for the fellowship, attendees are encouraged to come prepared with their questions and seize this opportunity to gain exclusive insights into one of Nigeria’s most prestigious media fellowships.

Interested journalists, bloggers, and content creators can apply for the MIP 2025 at https://bit.ly/MTN_MIP2025 and can register here for the MIP Webinar.


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