E-Business
Stakeholders Seek Early Adoption of Technology to Promote Economic Growth
Participants at the Nigeria e-Government Summit 2020 have stressed the need for early adoption of technology and increased ICT infrastructure across the country that will promote economic growth and e-Government.
The summit, which was held at Sheraton Hotel in Lagos on Tuesday, and organised by DigiServe, had the theme : COVID-19: Impetus for Accelerated e-Government Adoption.
Mr. Muhammad Nami, Executive Chairman, Federal Inland Revenue Service (FIRS), who was represented by the Coordinating Director, FIRS, Mr. Femi Oluwaniyi, said the COVID-19 pandemic, even though it took the world by surprise, brought about the importance and need for technology adoption that would keep citizens in tune with the new normal, where meetings and conferences are now held online and government activities are more accessible online.
According to Nami, “There is need for early adoption of emerging technologies to improve governance and also improve the lives of Nigerians. Small businesses like Small and Medium Enterprises (SMEs), need to be empowered and government must begin to provide ICT infrastructure that could be leveraged by SMEs to further grow the Nigerian economy digitally,” Nami said.
He said FIRS was already at the forefront of technology adoption in providing seamless services for tax payers, through the e-Tax and other initiatives of the FIRS.
The Governor of Lagos State, Babajide Sanwo-Olu, in his keynote address, discussed the importance of technology in developing the Nigerian economy and e-Government across different states of the federation.
The governor who was represented by his deputy, Dr, Obafemi Hamzat, explained how the state is deploying 3,000km Lagos Metro Fibre cables in order to address the shortfall of broadband infrastructure in the state, designed to boost high speed broadband connectivity across the state. “Lagos State will continue to provide leadership for the adoption of relevant technologies that will enhance e-Government and Information Technology (IT) infrastructure spread across the state,” Sanwo-Olu said.
Mr. Lanre Ajayi, Executive Chairman, DigiServe Network Services, and convener of the e-Government summit, said: “Technology evolution has made it easy for government service delivery and no government can survive effectively without technology application. Nigerians therefore need technology to leverage e-Government services.”
According to Ajayi, there would be detailed communique that would come from all deliberations at the summit that would assist government in making its services easily assessable online.
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Pro. Umar Garba Danbatta, who joined the summit from Kano through a virtual conference, said NCC would continue to deepen broadband penetration across the country to enhance high speed broadband connectivity. According to him, as at September this year, NCC increased broadband penetration to 45.43 per cent, up from a paltry six per cent broadband penetration in 2015.
“Telecoms subscription has reached 205 million and internet subscription has reached 150 million , with over 80 million Nigerians having access to high speed internet access. But in all of these, effective security must be put in place to guard against associated risks, which can affect e-governance, if not checked. NCC is therefore working hard to address cyber insecurity through the establishment of the Computer Emergency Response Team (CERT), in collaboration with other agencies, to deal with cyberattacks,” Danbatta said.
The Secretary to the State Government of Akwa-Ibom State, Dr, Emmanuel Ekuwem, who represented Akwa-Ibom State Governor, Emmanuel Udom, gave instances how the state government is leveraging technology to provide healthcare and education services across the state. “Through technology, the state was able to establish remote healthcare services, where medical practitioners attend to patients in remote locations of the state, without physical contact. The same goes to the education sector where the state is leveraging technology to promote online education in the state,” Ekuwem said.
Highlights of the summit were the discussions from different panel sessions around e-Government and critical success factors in specified countries that were represented at the summit; The role of government agencies in advancing national e-Government plan; Domain name, Data Centre and Co-location, among others.
Dr Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), has reaffirmed the bureau’s commitment to data protection in Nigeria.
He disclosed this in a statement at the weekend by Zira Nagga, head of Public Relations, BPP, following a courtesy visit by a delegation from the National Data Protection Commission (NDPC).
Adedokun stressed that data protection is vital to Nigeria’s economy and development, particularly in areas such as demography, health, education, and other key sectors.
He emphasised that no country should leave its data unprotected, as it plays a crucial role in future planning and national development.
“Data governs the world. It is essential to technological progress and must be protected for a country or business to be taken seriously,” he said.
Adedokun described the visit, aimed at fostering partnership on data policy implementation and protection, as timely and aligned with national goals.
He said the BPP would collaborate closely with the NDPC to boost data development, capacity building, and enhance the procurement system.
“The BPP will support compliance as part of the ‘Nigeria First’ Policy, although it is not a core procurement eligibility requirement,” he explained.
He suggested a hybrid training model to help build strong capacity in data protection, privacy awareness, and policy understanding.
According to him, a dynamic training approach will reduce logistics costs and improve public confidence in data safety and privacy.
Dr Vincent Olatunji, CEO, and national commissioner, NDPC, praised Adedokun and the BPP for supporting data protection initiatives.
He said the partnership supports President Bola Tinubu’s vision and will strengthen data privacy across Ministries, Departments, and Agencies (MDAs).
“The collaboration will create awareness and train BPP staff to ensure a firm grasp of data protection principles and policies,” he stated.
Olatunji said the NDPC would establish a working group to finalise a Memorandum of Understanding beneficial to both institutions.
He added that President Tinubu signed the NDPC into law on 12 June 2023 to uphold citizens’ rights and protect national and business data.
Olatunji also noted that strict legal measures were in place to enforce data protection and ensure full compliance nationwide.
Both agencies agreed to form a team to sign the MoU and focus on capacity building and data management in procurement and beyond.
President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.
His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.
He said the fibre optic layout is part of other projects being embarked on.
“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.
“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.
He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.
In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.
The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.
Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.
It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.
African startups raised more than $345 million across 65 deals in May, more than double the amount raised in the same period of last year, according to a report by Briter, a research and business intelligence firm.
The report disclosed that both the number of deals and participating companies declined, confirming a growing trend of fewer companies raising funds in larger sizes.
It said fintech attracted the highest share of funding in May, accounting for 34 percent of the total, while cleantech followed closely, driven by a debt deal from Sun King. The company raised $80 million (in local currency) to expand clean energy access in Nigeria.
“Equity remains the primary instrument in terms of total value. There’s no doubt about it; in fact, equity deals with disclosed amounts captured more than half of the total funding volume in May.
“However, debt financing is increasingly proving its weight. Although it accounted for only 8 percent of all deals, it represented 32 percent of the total funding, highlighting the typically larger size of debt transactions. With the rise of specialised vehicles targeting early-stage businesses, debt is becoming an increasingly important part of Africa’s innovation funding landscape,” it said.
Briter’s report added that grants continued to play a vital role in early-stage support, especially in the education technology (EdTech) sector. The Mastercard Foundation led the pack in grant activity, funding a new cohort of EdTech innovators in Nigeria and Kenya. Each selected startup is set to receive $100,000 in grant funding, in addition to mentorship and business development support.
Multilaterals also made a strong showing in May, it said. The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, issued a $179.6 million guarantee to CleanTech firm KOKO Networks. The support will help scale its clean energy solutions across Kenya.
“This deal not only demonstrates growing international confidence in African climate ventures but also signals a promising pathway for other asset-intensive startups in clean cooking, agriculture, and renewable energy,” the report said.
From a geographic perspective, Egypt emerged as the continent’s fundraising powerhouse for the month, contributing 51 percent of all funding raised. The country recorded 12 deals across equity, debt, and bond instruments. Notably, FinTech platform MNT-Halan raised $50 million through a bond issuance, further illustrating the diversification of capital-raising mechanisms in the region.
Outside Egypt, funding was distributed across Africa’s three other key markets, which are Egypt, Nigeria, and Kenya, with limited activity recorded in countries such as Ghana, Tunisia, Morocco, and Uganda, each registering between one and three deals.
In terms of exits, the African tech landscape continues to mature. Three companies—Baobab+, Qardy, and Shopa—were acquired in May, bringing the total number of exits this year to 22. This already surpasses last year’s count for the same period. Qardy was acquired by Catalyst Partners Middle East (CPME) in a disclosed deal valued at $23 million, the report added.
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