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General News

NCC Sets the Pace in FG’s Indigenous Tech Development Policy

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L-R : Dr. Kings Jack, Regional Manager North Central Region, Bank of Industry (BOI); Prof. Umar Garba Danbatta, Executive Vice Chairman/ CEO, NCC; Prof. Isa Ali Ibrahim (Pantami), Honourable Minister, FMCoDE; Prof. Adeolu Akande, Chairman NCC Board, Engr. Ubale Maska, Executive Commissioner, Technical Services, NCC and Mr Kelechi Nwankwo, Head, Research and Development, NCC, during the Prototype and Research Exposition that took place at the Communications and Digital Economy Complex, Mbora, Abuja.
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The Nigerian Communications Commission (NCC) has given concrete expression to the Federal Government’s drive to promote indigenous innovative technologies in Nigeria’s telecommunication sector.

L-R : Dr. Kings Jack, Regional Manager North Central Region, Bank of Industry (BOI); Prof. Umar Garba Danbatta, Executive Vice Chairman/ CEO, NCC; Prof. Isa Ali Ibrahim (Pantami), Honourable Minister, FMCoDE; Prof. Adeolu Akande, Chairman NCC Board, Engr. Ubale Maska, Executive Commissioner, Technical Services, NCC and Mr Kelechi Nwankwo, Head, Research and Development, NCC, during the Prototype and Research Exposition that took place at the Communications and Digital Economy Complex, Mbora, Abuja.

The NCC demonstrated this by organising the maiden prototype and research exposition aimed at showcasing no fewer than 10 prototypes, arising of from its sponsored Telecommunications-Based Research Innovation Projects in the Nigerian universities.

At the event, which took place at the Commission’s Communications and Digital Economy Complex, Head Office Annex in Mbora District, Abuja, from 21–22, February 2022, the Commission selected 10 prototypes for exhibition as outputs of its telecom research project during the two-day event.

The top 10 prototypes include: Multiple operators’ enabled SIM, GSM communication-based walking cane robot, Powerline communications module, Home-grown electrical power charger, Low-cost GSM telephone system, Wireless power transfer device, Vital sign monitor, Plastic optical fibre cable, Wearable E-band tracker, and a Software-based nomadic base station.

The Commission is implementing the research and prototype exposition as a way of encouraging the commercializing of the prototypes, as an influential platform for universities, professionals and industry experts to come together, share information and build long-lasting business relationships.

Speaking at the event, Prof. Isa Ali Ibrahim Pantami, minister of Communications and Digital Economy, stated that, through the NCC’s telecoms-based research and prototype exposition, “the indigenous technological capabilities of Nigerians will be fully appreciated, harnessed, and utilised towards stimulating the overall productivity and sustainability of the telecommunications industry.”

Pantami emphasised that research is considered a necessary condition for the technological development of any nation and also regarded as the backbone of the communications industry, because it is the building block for the future development of advanced telecommunications products and services.

He tasked the mobile network operators (MNOs) to work with NCC to support indigenous technology development to solve national challenges in future.

The Minister commended the Commission’s Board and Management for facilitating the delivery of the lofty policy targets contained in the National Policy for the Promotion of Indigenous Content (NPPIC) 2021.

He also thanked the recipients of the Commission’s grants for the display of already developed prototypes for the knowledge of the industry stakeholders.

Speaking earlier, Prof. Adeolu Akande, chairman, NCC, Board of Commissioners, declared that the Commission will continue to provide the enabling environment to bridge the gap in the significant tripartite relationship among the academia, industry, and the government. He encouraged participants to support NCC’s initiative to succeed, as businesses will emerge, and sustainable jobs will be available for our young graduates on account of this new developments.

Also in his address, Prof .Umar Garba Danbatta, executive vice chairman and chief executive of NCC, reinforced the Commission’s commitment to discharging its role as an active regulator to drive the indigenous content development component of the nation’s telecoms sector.

The EVC reiterated the significance of building the indigenous technological capacities of Nigerians through partnerships with relevant stakeholders.

“The Commission has awarded grants to successful academic institutions to develop Working Prototype and Telecommunications-led Products capable of addressing industry needs and providing overall sustainability, fully-developed and ready-for-the-first phase of market entry”, Danbatta stated.

The EVC asserted that “it is important to have a commercialisation strategy to transit from rudimentary research into the market to address the local challenges and reduce the over-dependence on imported innovations and technologies with the attendant drain on the nations scarce foreign exchange.

“This is what this programme hopes to achieve to maximize the full potential of academia in contributing to the steady growth of the telecoms industry in Nigeria”.

 

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. 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

General News

MTN Nigeria’s AGM Highlights Strong Q1 2025 Performance and Future Growth

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MTN Nigeria Communications Plc held its 2025 Annual General Meeting (AGM) in Lagos today, where shareholders reviewed the company’s full-year financial performance and endorsed its strategic priorities for the future.

The AGM came on the heels of a strong first quarter in 2025, during which MTN Nigeria invested a record ₦202.4 billion in capital expenditures and posted ₦133.7 billion in profit after tax, marking a major turnaround from a ₦392.7 billion loss in Q1 2024.

This 159% year-on-year surge in Q1 CAPEX—the company’s highest-ever quarterly investment—has gone into expanding network capacity, boosting data speeds, and enhancing service quality nationwide, in response to rising demand for digital services.

The Chairman of the Board, Dr. Ernest Ndukwe (OFR), addressed shareholders, saying: “On behalf of the MTN Nigeria family, I am proud to affirm that our business remains deeply rooted in strength and resilience.

“Our foundation remains solid, and our role within the broader economic landscape is unwavering, even amidst the challenges we encountered over the past year.

“As we reflect on this journey, I am inspired by the resilience of the Board, management, and staff of our Company, backed by the unwavering confidence of our shareholders, the valued support of our customers, and the immense potential of our nation, Nigeria.”

Dr. Karl Toriola, chief executive officer stated: “The year 2024 undoubtedly tested our resilience as we navigated a challenging operating environment marked by severe macroeconomic conditions.

“At MTN Nigeria, we viewed these challenges as catalysts for innovation and decisive action.

“We focused on what mattered most, strengthening the resilience of our network, prioritising customer experience, and accelerating the growth of our commercial operations through our customer value management initiatives.”

However, the company reported a ₦400.4 billion net loss for the year, largely due to ₦740.4 billion in foreign exchange losses from the devaluation of the naira, alongside elevated operating costs, and higher interest expenses. Due to negative retained earnings, the Board was unable to recommend a final dividend for FY 2024, consistent with regulatory requirements.

Looking ahead, MTN Nigeria remains optimistic, citing tariff increases, currency stabilisation, and easing inflation as key factors that will support the company’s return to positive equity in 2025.

Chief Financial Officer, MTN Nigeria, Modupe Kadri, commenting on this optimism said, “Our Q1 2025 results reflect strong operational execution and financial discipline, with service revenue up 40.5% and EBITDA growing by 65.9%.

“We delivered N133.7 billion in profit after tax, marking a significant turnaround from the prior year, while maintaining a healthy cash position and robust balance sheet metrics.”

During the AGM, all resolutions were passed by shareholders, including the adoption of the 2024 financial statements, the re-election of directors, and approval of remuneration policies.

The Q1 2025 report shows the company has returned to profitability and remains committed to strengthening network investments, accelerating digital inclusion, and delivering sustained value to its customers and shareholders.


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NITDA Inaugurates Start-up Consultative Forum

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Nigeria has taken a bold step toward deepening its innovation ecosystem with the official launch of the Start-up Consultative Forum, an initiative designed to accelerate the implementation of the Nigeria Start-up Act (NSA) and strengthen the country’s tech startup ecosystem.

While addressing the forum, NITDA’s Director General, Kashifu Inuwa CCIE, who was represented by Barrister Emmanuel Edet, the Ag. Director, Regulation and Compliance described the platform as more than just a stakeholder meeting.

“It is a commitment to building a stronger tech ecosystem through collaboration, inclusion, and data-driven governance, marking a new phase in the implementation of the Nigeria Startup Act,” he said.

He noted that the Nigeria Startup Act is more than legislation—it is a framework for national development. “Startups are not fringe players. They are central to Nigeria’s economic future,” he asserted.

Inuwa further mentioned that over the past eight months, NITDA has driven key activities under the Act. These include stakeholder workshops across 10 states, roadshows at tech events like Lagos Tech Week, the Omniverse Summit, Moonlight Conference and the Akwa Ibom Tech Week, and awareness campaigns through digital and direct engagement.

The forum, according to Inuwa, will serve as a feedback engine, spotlighting regulatory gaps, guiding policy improvements, and shaping a startup-friendly environment.

Under the Renewed Hope Agenda and the guidance of the Federal Ministry of Communications, Innovation and Digital Economy, NITDA continues to support startups through initiatives like the Startup Portal, tech infrastructure deployment, and digital skill training across the country.

The DG emphasised that for startups to thrive, policies must be inclusive and responsive. “Inclusion is not charity. It is a strategy,” he said, calling for equal representation across gender, region, and sector.

While inaugurating the members if the Conservative Forum on behalf of the Director-General, the Director of IT Infrastructure Solutions, Oladejo Olawunmi, ignited the forum with a call to action, envisioning it as a vital nexus for collaborative breakthroughs.

He inspired the members, saying, “We remain deeply committed to nurturing a space where innovation can flourish, and I call upon each of us to embrace the task ahead by shaping ideas into concrete policy and outcomes that leave a lasting impact.”

Earlier, Victoria Fabunmi, National Coordinator of the Office for Nigerian Digital Innovation (ONDI), in her opening address called the Forum, a “structured dialogue between those building the future and those enabling it.”

She outlined five key pillars for success: access to funding, capacity building, supportive policy, inclusive innovation, and global competitiveness.

She urged startups to speak boldly, private sector players to offer more than capital, development partners to scale what works, and government to harmonize efforts. “This Forum must be a problem-solving platform, not another talk shop,” she concluded.

With the Startup Consultative Forum now launched, NITDA aims to turn policy into action, ensuring startups are no longer on the sidelines, but at the center of Nigeria’s innovation journey.

The virtual event was attended by private sector players, development agencies, verified Ecosystem Support Organisations (ESOs), angel investors, venture capital firms, and labelled startups from across the country.


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NFIU Alerts Nigerians of Rising Ponzi Schemes, Unregulated Crowdfunding Scams

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The Nigerian Financial Intelligence Unit (NFIU) issued a detailed advisory on yesterday, warning Nigerians about the growing threat of Ponzi schemes and unregulated crowdfunding scams, particularly in digital assets, agriculture, and real estate.

These sophisticated scams, often disguised under appealing brand names, promise unrealistically high returns, exploiting vulnerable citizens facing economic hardship between 2022 and 2025.

Digital asset scams, like Crypto Bridge Exchange (CBEX) and Chinmark Group, leverage cryptocurrencies’ anonymity and limited regulation. CBEX, promising 100% returns in 30 days, collapsed with over ₦1.3 trillion in losses, using blockchain to obscure funds.

Chinmark, posing as a conglomerate, defrauded investors of over ₦10 billion via social media and religious endorsements. “We are committed to saving Nigerians from the troubles associated with Ponzi schemes,” the NFIU stated, pledging to pursue major actors.

Agricultural Ponzi schemes, such as Farmforte Ltd and Green Eagles Agribusiness, promise unsustainable farming returns, with one Lagos operator collapsing after processing ₦400 million with 16% monthly return pledges. Red flags include guaranteed high returns, unlicensed operations, and reliance on referrals.

The Investment and Securities Act (ISA) 2025 imposes fines of ₦20 million and up to 10 years’ imprisonment for promoting Ponzi schemes, empowering the Securities and Exchange Commission (SEC) to regulate digital assets. The NFIU urged licensing for Virtual Asset Service Providers, advanced fraud detection, and stronger KYC/AML compliance by financial institutions.

It advised the public to verify platforms with the SEC, question return mechanisms, and report suspicious schemes promptly.


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