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Metaverse, Future of Work Among Disruptive Tech to Shape 2022

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While connectivity, digital transformation and telemedicine dominated 2021, this year is expected to be shaped by the metaverse and the future of work.

This is according to data and analytics company GlobalData’s “Tech, Media & Telecom Predictions: 2022” report, which identifies the top 30 themes impacting the tech, media and telecoms (TMT) industry.

GlobalData describes a theme as anything that keeps a CEO up at night. Its focus on themes aims to give companies an opportunity to invest in the right areas in their industries to become success stories, notes the firm.

During a webinar presentation of the TMT Predictions 2022 yesterday, GlobalData analysts offered a deep dive into eight of the 30 themes, namely environmental, social and governance (ESG), metaverse, the future of work, quantum computing, space economy, crypto-currency, batteries, and mergers and acquisitions.

“Technology is making it even easier for new entrants to disrupt even the most established businesses, so investment in the right themes is key to a company’s success,” says Emilio Campa, analyst on the Thematic Team at GlobalData.

Top among GlobalData’s TMT Predictions 2022 is the metaverse.

Though the metaverse may not yet be fully realised, early prototypes and use cases will emerge as tech companies strengthen their metaverse capabilities and start-ups develop solutions around data visualisation, collaboration and training, says the report.

According to Emma Taylor, GlobalData’s thematic analyst, the metaverse has the potential to transform how people work, shop, learn, communicate, socialise and consume content.

Taylor comments that big tech will increasingly invest in the metaverse in 2022.

Last year, she notes, there were significant investments made in the metaverse. In April 2021, Epic Games announced a $1 billion funding round to develop the metaverse platform within Fortnite. More recently, in November 2021, SoftBank Group announced it was investing $150 million in a South Korean metaverse platform.

She explains: “The metaverse is attracting significant media attention, including predictions that it will form the next incarnation of the internet. As such, competition will intensify as the tech titans battle for market dominance and non-tech brands explore how metaverses could deliver operational improvements.”

Taylor anticipates game publishers such as EA and Tencent will also join the metaverse development race. “GlobalData estimates cloud gaming alone will generate $30 billion in revenue by 2030.”

In addition, enterprises are expected to be the prime market for metaverse developers in 2022, she states. “New use cases will emerge as Microsoft, Nvidia, Meta and HTC strengthen their metaverse capabilities, and start-ups develop specific solutions around data visualisation, collaboration and training.

“The big players will engage in key mergers and acquisitions to bolster their metaverse offerings.”

According to Taylor, the use of augmented and virtual reality will be integral in the metaverse.

The metaverse is loosely defined as an extensive online world where people interact via digital avatars. Companies like Meta (formerly Facebook) have announced plans to develop metaverse experiences, services and hardware.

GlobalData analyst Rachel Jones points out that it’s no surprise ESG remains the major theme for 2022.

According to Jones, the 2021 United Nations Climate Change Conference (COP26) brought climate action to the forefront of the political agenda, where discussions regarding climate inaction were debated.

Jones says ESG will be discussed in all corporate boardrooms throughout 2022, with GlobalData predicting ESG disclosures will be an expectation in 2022.

“The role of the private sector in assisting the transition to a low carbon economy is becoming increasingly prominent thanks to the exposure created by COP26.”

GlobalData is of the view that commitment to the SBTi (Science Based Targets initiative) and Amazon’s The Climate Pledge will accelerate in 2022, Jones noted during the webinar presentation.

“Where companies pledge climate action, they will win stakeholder approval, which can therefore drive a competitive advantage.”

GlobalData predicts there will be a regulatory crackdown on big tech, especially regarding how they manage misinformation and online harm, says Jones.

Therefore, companies that disclose their ESG policies effectively and actively improve their ESG are the winners in this theme. Those that don’t will lose out, she expresses.

“Governance is a key issue in the tech sector as they [big tech companies] repeatedly evaded accountability for things such as data breaches, fake news and online abuse, which has persistently spread across the various social media platforms. However, it seems the time of this regulatory Wild West is up.”

Turning to the future of work, GlobalData’s Amrit Dhami notes hybrid working will remain commonplace in 2022, as workers enjoy the flexibility and lack of a commute.

“Companies must be flexible to retain and attract top talent,” Dhami says. “The gig economy will also continue to expand, catalysed by COVID-19 lockdowns and the explosion of quick commerce.

“However, the gig economy model will become increasingly unsustainable, due to landmark regulatory changes across Europe, classifying more and more gig workers as employees rather than independent contractors.”

According to GlobalData analyst Dan Clarke, the US and Europe will work to consolidate their own lithium-ion battery supply chains in 2022.

US manufacturers in the transportation equipment, electronics and chemicals industries will re-shore production due to concerns over electronic vehicle battery production and domestic semiconductor supply.

Says Clarke: “Batteries are crucial in digital technology, renewable energy and electric vehicles, three areas that are important now and will be increasingly important in the future. There is also likely to be a lot of vertical integration next year, where automakers move into building batteries or processing plants, or simply securing long-term partnerships as Tesla and Panasonic have done.”

The GlobalData report indicates that decentralised finance (DeFi) will disrupt traditional financial institutions and is set to be the killer use case of crypto-currency.

“Start-ups will lead DeFi platform innovations with retail investors as the primary targets. Institutional bodies will catch up with the trend through the introduction of Central Bank Digital Currencies and the adoption of stablecoins.”

The cyber security industry will develop quantum-resistant encryption before RSA codes are broken, notes the report. However, future quantum computers could break secure communications captured today. “Therefore, companies will implement quantum security solutions in 2022.”

In terms of the space economy, the report reveals the expansion of satellite networks will provide almost 70% of the space economy’s growth in the near term, facilitating larger aspirations.

“Plans for space business parks from aerospace leaders will see commercial actors have a more sustained presence in space, signalling a commercial infrastructure boom in the longer term.”


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Tomato ‘Ebola’ May Disrupt Nigeria’s Agric Value Chain-  Rewane

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Bismarck Rewane, renowned economist and chief executive officer of the Financial Derivatives Company,  has warned that the recent outbreak of the tomato leaf miner, commonly referred to as “Tomato Ebola,” is a disruption to Nigeria’s agriculture value chain.

Tomato ‘Ebola’ May Disrupt Nigeria’s Agric Value Chain-  Rewane

Bismarck Rewane, CEO, Financial Derivatives Company

Speaking on Channels Television’s Business Morning programme on Thursday, Rewane emphasised that the impact of the outbreak extends far beyond tomatoes, triggering a cost ripple effect across the broader food basket.

“The effect of an increase in the price of tomatoes leads to cost elasticity which means that the price of other substitutes will begin to increase, including the price of carrots, the price of tomato paste, price of tomato puree and other things.

“One  for the reddening, two for the effect and the  thickening on the sauce you’re making.

“However, because tomato is a perishable commodity, it also means that  if there is tomato ebola, then the price has increased, and also the supply has reduced, it has a knock-on effect on so many other things,” Rewane explained.

He added that Nigeria’s lack of food storage and preventive mechanisms has worsened the crisis, causing severe supply chain disruptions.

Rewane’s comments come amid a sharp increase in the price of tomatoes, with a 50-kilogramme basket of the commodity which used to sell for N5,000, now selling for N10,000 to N30,000, thereby compounding food inflation and straining household budget.

The Federal Government said Nigeria has so far lost over N1.3 billion to the outbreak of the invasive pest in key tomato-producing states like Kano, Katsina, and Kaduna.

Abubakar Kyari, minister of Agriculture and Food Security, explained that the outbreak has significantly disrupted tomato supply chains, causing a surge in prices.

He noted that the outbreak of tomato Ebola highlights the fragile nature of Nigeria’s horticultural systems, and that the invasive pest can destroy tomato crops within 48 hours, resulting in catastrophic yield losses.

He added that this crisis highlights the urgent need for integrated pest management strategies, investment in resilient crop varieties, and enhanced support for farmers to safeguard the country’s food supply chains.

 

 

 

 

 


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Loan Controversy: Court adjourns Otudeko, others’ case to June 11

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Oba Otudeko,
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A Federal High Court sitting in Lagos has adjourned the N12.3 billion loan controversy case involving the Chairman of Honeywell Group, Oba Otudeko, and three others, to June 11, 2025.

Oba Otudeko,

Oba Otudeko,

Justice Chukwujekwu Aneke postponed the case to allow time for either a peaceful settlement or the formal arraignment of the suspects.

The decision followed reports that negotiation are still ongoing between the parties involved for out-of-court settlement as advised by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), who is trying to mediate.

During Thursday’s hearing, Otudeko’s lawyer, Bode Olanipekun (SAN), told the court that negotiations for an out-of-court resolution were still in progress.

Similarly, the lawyer for the Economic and Financial Crimes Commission (EFCC), Bilikisu Buhari, acknowledged the discussions but asked the court to set a new date for arraignment in case the negotiations fail.

It will be recalled that at the last sitting of the court on March 17, Chief Wole Olanipekun (SAN) had informed the judge that a meeting involving all counsel had been convened at the instance of the Attorney General of the Federation.

He said that this was aimed at reaching a peaceful settlement of the case.

Olanipekun had also stated that substantial progress was made, and the AGF directed all parties to refrain from actions that could jeopardize the resolution process, including filing further applications.

The court will reconvene on June 11 to hear the outcome of the settlement talks or proceed with the arraignment if no agreement is reached.


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Zamfara, Oracle Partner to Drive Digital Skills Development

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The Zamfara State government has signed an agreement with Oracle to invest in youth development, workforce capacity building and the digital economy under Oracle University’s Skills Development Initiative (SDI).

The agreement was signed at Oracle’s Offices in London, United Kingdom, with Governor Dauda Lawal representing the Zamfara State government.

A statement on Wednesday by the Governor’s spokesperson, Sulaiman Bala Idris, explained that the development will foster collaboration between the Zamfara Information and Technology Development Agency (ZITDA) and Oracle.

Secretary to the State Government, two Special Advisers and the Executive Secretary of ZITDA were also present at the event, along with Siobhan Wilson, Oracle UK Country Leader and Senior Vice President, EMEA.

The statement said, “Zamfara State government has signed a strategic agreement with Oracle to drive digital skills development across the state.

“Facilitated through the Zamfara Information Technology Development Agency, the collaboration will use the expertise and learning services of both Oracle Academy and Oracle University in their digital transformation efforts.

“The collaboration signifies a commitment to education and a strategic investment in the future of Zamfara’s youth, workforce and digital economy.

“Oracle Academy, Oracle’s global philanthropic educational programme offers a robust portfolio of technology education teaching and learning resources, including curriculum and software access, to educators and students worldwide.

“With the support of the Zamfara Information Technology Development Agency, these resources will be made available to validate higher education institutions across Zamfara.

“ZITDA will help lead efforts to integrate Oracle Academy offerings into Zamfara’s higher education curriculum, equipping educators with the tools and resources they need to guide students in learning hands-on tech skills and toward Oracle’s professional certifications and foster a new generation of tech-savvy leaders.

“In addition, Oracle University’s Skills Development Initiative, a global programme that provides access to world-class learning and certification programmes at no cost to eligible learners, will further expand opportunities for learners in Zamfara.

“Through a co-branded Learning Portal in collaboration with ZITDA, Oracle University plans to provide free access to digital learning paths and foundational certifications for eligible participants across Zamfara. This includes curated learning journeys offering over 200 hours of professional-level training in high-demand areas such as Cloud, AI, Data Science and APEX development.”

In his remarks at the ceremony, Governor Dauda Lawal restated that the collaboration with Oracle is part of his administration’s commitment to transforming Zamfara into a hub of innovation, education, and digital excellence.

He said, “on behalf of the government and the good people of Zamfara State, I extend my deepest appreciation to Oracle for believing in our vision and for partnering with us on this transformative journey.

“What we are doing today goes beyond technology, it is about giving hope, creating opportunities and unlocking the future. By investing in digital education and innovation, we are offering real alternatives to poverty, to joblessness and to despair. I sincerely thank Oracle for standing with us, believing in the power of partnership, purpose, and shared dreams.

“Today, we are not just signing a document, we are making a promise, promise that every child in Zamfara will have a fair chance to dream, to learn, and to succeed. A promise that technology will be our bridge to a stronger, more inclusive economy. And, a promise that Zamfara will not merely participate in the digital revolution, we will lead it.”

 


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