E-Business
Nigerian Businesses go to Cloud Computing
A report released at the weekend revealed that 44% of Nigerian businesses say they will embrace the Cloud in the coming year, although Nigerian businesses still lag behind, with only 36% of them currently using the Cloud.
Report of a study conducted by World Wide Worx and Cisco shows that the total of businesses using country in Nigeria will increase to 80% by the end of 2014 indicating considerable investment in cloud within next year.
Commenting on the trend during Microsoft Journalist Academy programme held in Lagos, Oluyomi Alarape, datacenter solutions manager, Microsoft West Africa Limited, highlighted that the economy of scale inherent in Cloud Computing drives the IT industry, in particular, to contribute national development, employment generation, and reduction in cost of doing business.
According to him, companies presently spend 45% of their IT budgets on hardware and software solutions, 25% on facilitates, 15% on operations and the remaining 15% on power generation. “These can be reduced up to 30%, 35%, 70% and 90% respectively via the processes of virtualization and Cloud Computing,” he said.
Alarape, advised companies to be weary of the traditional systems of data storage and management which do not only occupy scarce spaces but drain companies’ purses.
Meanwhile, key among the findings include that the rapid adoption of Cloud Computing in Nigeria and other African countries can be found in the growing confidence that IT decision-makers have in the environment. Even where confidence is not high, distrust in Cloud has almost entirely disappeared.
Apparently, World Wide Worx and Cosco found that approximately 17 percent of data center traffic will be fueled by end users accessing clouds for web surfing, video streaming, collaboration and connected devices, all of which contribute to the Internet of Everything, which is the networked connection of people, data, process and things.
The Cloud in Africa: Reality Check 2013 research study1 was conducted among a small but representative sample of senior information technology decision-makers in medium-sized and large companies.
The most significant finding from the study was that, while South Africa currently leads the continent in Cloud uptake, it is about to be overtaken, dramatically, by Nigeria.
“Cloud computing is the next big step in the evolution of computing and the Internet,” said David Meads, Cisco’s Vice President for Africa.
“The broadband revolution sweeping Africa and the continent’s reputation for innovation add up to tremendous appetite for services that will drive this evolution. Looking ahead, the Internet of Everything represents the largest online trend today. As more people, things and devices connect to the Internet in Africa, more data from more places will be introduced across corporate and service provider networks, which will open up new opportunities and increased demand for the Cloud.”
“The fact that no one is expressing doubt about the reliability of the Cloud means that the final pieces of the puzzle are falling into place,” said Arthur Goldstuck, managing director of World Wide Worx.
“People all over the world continue to demand the ability to access personal, business and entertainment content anywhere on any device, and each transaction in a virtualized, cloud environment can cause cascading effects on the network,” said Meads. “Because of this continuing trend, we are seeing huge increases in the amount of cloud traffic globally within, between and beyond data centers over the next four years.”
Other revelations from the study show that in 2013, 50% South African medium and large businesses are using Cloud services; while a slightly lower proportion of about 48% are using the Cloud in Kenya.
While a significant 44% of Nigerian businesses are will to embrace the only 24% of organizations in Kenya and only 16% in South Africa saying they will be taking up Cloud.
The survey showed that 57% of decision-makers across the three countries had high confidence in the security of the Cloud, while a further 34% were neutral – meaning they would wait and see, but were not negatively disposed towards it. Only 1 in 10 respondents did not trust security in the Cloud.
An even higher level of confidence was expressed in the reliability of the Cloud: 73% of respondents across the three countries expressed high confidence, while most of the rest – 25% – were neutral on reliability.
Private Cloud is the most popular in 2013 with 25% or organizations surveyed currently deploying this compared to 13% opting for Hybrid Cloud and only 7% of companies opting for the Public Cloud.
In 2014, this trend is set to continue with 32% of companies opting for the Private Cloud compared to 18% for Hybrid Cloud and 16% for Public Cloud.
The most popular category for cloud use today is storage (28% of companies) followed by SaaS (10% of companies surveyed).
Nigeria Data Protection Commission (NDPC) has signed a Memorandum of Understanding with Mastercard to enhance data protection in Nigeria.
Dr. Vincent Olatunji, commissioner, NDPC and Derek Ho,deputy chief privacy officer, Mastercard
The agreement was sealed during a workshop where 150 Data Protection Officers (DPOs) were trained on Data Protection Impact Assessments (DPIAs).
Dr. Vincent Olatunji, commissioner, NDPC, said the event kicks off activities for the 8th NADPA conference, highlighting government efforts to train more certified DPOs.
Olatunji also disclosed the Federal Government’s commitment to increasing the number of certified DPOs with the required skills to manage data protection.
He noted that Nigeria’s digital-savvy youth are key to driving this agenda.
“Human capital is really key to us, and the ecosystem we are regulating is very special. It is still new, still emerging, and we need all we can to build the capacity of officers.
“We want to build the capacity of our people so we can be able to deliver on our mandate and fully deepen privacy in Nigeria.
“We are targeting to build the capacity of 250,000 DPOs annually, and we are working with partners like Mastercard to achieve that,” he said.
Derek Ho,deputy chief privacy officer, Mastercard, also stressed the need for collaboration to build trust in the digital economy and urged participants to embrace training as data protection keeps evolving.
Central Securities Clearing System PLC (CSCS) has announced the launch of *7270#, its Unstructured Supplementary Service Data (USSD) code service, set to go live on May 8th, 2025.
The USSD code service is an innovative solution designed to enhance the ease and accessibility of investment services for all users.
Also, this service leverages the network capabilities of MTN Nigeria to bring unparalleled convenience to investors.
Driven by a relentless commitment to innovation, CSCS aims to revolutionize information access within the Nigerian capital market through this USSD code service.
As the Central Securities Depository (CSD), CSCS focuses on enhancing investor experiences and providing deeper market insights with unparalleled convenience.
The CSCS USSD code service offers seamless access to essential market information directly from mobile phones, eliminating the need for internet connectivity or specialized trading platforms.
Investors can now effortlessly retrieve Clearing House Number (CHN), check Direct Cash Settlement (DCS) status, view stock positions, account balances, and account status confirmations.
Haruna Jalo-Waziri, managing director/chief executive officer of CSCS, said ” We are excited to launch the *7270# USSD code service, a significant step in leveraging mobile technology to democratize access to account and portfolio information.
“This service empowers every investor, regardless of their location or resources, to stay informed about their investments. At CSCS, we believe that financial inclusivity is key to driving economic growth.
“Our partnership with MTN Nigeria on this project represents a significant leap toward a more inclusive financial landscape, leveraging the spread of the MTN network.
“This collaboration enhances the investing experience, reinforcing our shared commitment to empowering individuals with the tools they need to manage their financial futures effectively.” he added.
The CSCS USSD code service will initially be available to MTN users only. However, CSCS plans to expand this service to other networks soon.
This innovative service offers investors streamlined and secure access to critical market information at their fingertips.
Aisha Umar Mumuni, chief digital officer of MTN Nigeria, said, “This collaboration with CSCS on the *7270# USSD service underscores MTN’s commitment to harnessing the power of mobile technology to simplify complex processes for our users.
“By making critical investment information available at the touch of a button, we are helping to democratize access to the capital markets and, in the process, enhance investor engagement and market transparency,” she said.
CSCS continues to lead the way in technological advancements, reinforcing its position as a pivotal player in the Nigerian capital market ecosystem.
This initiative underscores our dedication to enhancing market efficiency and empowering investors with the tools they need for informed decision-making.
The need to maximise local digital assets, amid dwindling Oil revenues and a struggling economy, has been reiterated by the Chief Executive Officer of Quomodo Systems Africa, Oluwole Asalu, who maintained this measure remains the path to prosperity.
Asalu, while addressing the press in Lagos, recently asserted that global shift towards digital economies, presents a pivotal opportunity for Nigeria at this time to mobilise sufficient resources towards effective governance.
He emphasised harnessing the burgeoning local digital economy to expedite national diversification goals, while break away from overdependence on oil output.
Asalu, boasted further that Nigeria’s tech-savvy, youthful population and increasing recognition from global tech giants already position its digital sector as a driver of inclusive growth and job creation.
“Nigeria’s overreliance on oil is no longer tenable. As global markets shift towards renewable energy, the urgency to diversify has never been greater. Technology stands out as the most promising avenue, not merely as a sector, but as an enabler of growth across all facets of the economy,” he explained.
According to him, Nigeria’s tech talent remains the new oil, a renewable resource with the potential for significant returns, if strategically harnessed.
Like India’s successes in information technology services, Asalu want Nigeria to tap into lucrative outsourcing industry to draw foreign investment.
“Foreign investment in Nigeria’s tech sector is rising. Programmes like Digital Explorers have led European firms such as Telesoft to establish operations in Nigeria. Tech giants like Microsoft and Facebook have followed suit, injecting capital and creating jobs,” he stated.
He again pointed to the emergence of three unicorns within Nigeria’s tech ecosystem as a breakthrough and sign of maturity.
“Nigeria’s tech ecosystem is already showing signs of maturity, with three unicorns emerging from its soil. These success stories, powered by local innovation, underscore the viability of a home-grown, world-class tech sector,” he affirmed.
He however emphasized urgent need to close existing gap in skills and infrastructure, in addition to embracing governance and collaboration to fully harness digital potential cum future.
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