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Tech: NDITDA Bill Must Not Be Allowed to Destroy the New Oil Well

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By Joel Popoola

In tech terms, 2007 was a thousand years ago.

YouTube was a little over a year old. Instagram and Snapchat didn’t exist. TikTok wouldn’t go international for another decade.

That’s why it’s only sensible that we update out technology laws to reflect the Nigeria we live in now.

But this regulatory refresh must not come at the expense of our economic future.

This week has brought news that the National Information Technology Development Agency is apparently seeking to extend powers granted in 2007 to provide the Nigerian tech sector with advisory guidelines to a fully-fledged regulator with the powers to determine which businesses are allowed to operate.

Under the proposals, companies would also have to pay a 1% levy on their profits to NITDA. Companies failing to comply with the rules would risk jail time or minimum fines of 30 million naira.

In the aftermath of the government’s banning of both cryptocurrency and Twitter, insiders fear the move may have the effect of hindering innovation in Africa’s fastest growing tech ecosystem.

This must not be allowed to happen.

Tech is a sector which has defied the stagnant economy which has defined Nigeria in recent years. The internationally-renowned Financial Times recently branded Nigeria “Africa’s hottest start-up scene”. Of every five dollars invested in venture capital funding in Africa in 2020, one dollar went to Nigeria. In Flutterswitch and Intersave our nation is home to two of Africa’s four unicorns- companies valued at over $1billion. Investors poured $1.6billion into the Nigerian tech scene between 2016 and 2020.

It is this reason why tech’s role in the Nigerian economy has been called “the new oil”. And as the world adapts to a post-oil future, it’s something which is only going to become more and more critical. We must not intentionally destroy the new oil’s well.

As the Financial Times writes, the Nigerian government’s “byzantine structure, endemic corruption and penchant for free speech crackdowns” already inhibits innovation and discourages investment. Heavy handed regulation will only encourage investors and businesses to look elsewhere.

Fintech – digital banking – is one of the most significant divers of the Nigerian tech boom, and in a nation where 60 million people do not have a bank account and where 96% of transactions still take place using cash, the sector is only going to expand – democratising money as it does. No-one is seriously suggesting this area should be an unregulated free-for-all. Consumers need to know that they are investing in a reputable and regulated organisation and not a digital pyramid scheme.

Regulation which supports instead of strangling innovation is the key to prosperity. But the Nigerian tech sector has all-too-often found both the NDITA and other governmental bodies remote, inaccessible and even antagonistic.

This approach is symptomatic and symbolic of the digital divide between decision makers and ordinary Nigerians.
At the digital democracy campaign I lead we are trying to bridge that divide with technology.
We have developed a free app called Rate Your Leader to help elected officials better engage with both technology and the people who elect them.

The app allows direct person-to-person communication between verified voters and confirmed local leaders. As a result, Rate Your Leader allows the rapid raising of issues and concerns and the sharing of information, allowing communities to collaborate to make local areas better and helping politicians understand what matters most to the people who elect them. Rate Your Leader’s abuse-proof technology ensures that this communication is always courteous and civil.

Rate Your Leader also lets local people rate politicians for accessibility, transparency and honesty – building trust in both politicians and political institutions.

The Nigerian tech sector is alarmed by the prospect of a bill which seems to give a single agency the power to decide which businesses can operate and which technologies can come to market, and baffled with a bill which seems to entirely contradict the Nigerian Startup Bill, a tech industry–led initiative much better targeted at delivering a more startup-friendly business environment.

As with so many aspects of the Nigerian political landscape, the key to overcoming these concerns is better engagement – engagement that new technology ironically makes it a lot easier to facilitate.

If we are to safeguard a more prosperous future, it is engagement which must take place at the earliest opportunity – and at Rate Your Leader, we are willing to support that engagement in any way we can.

Joel Popoola is a Nigerian tech entrepreneur, digital democracy campaigner and founder of the Rate Your Leader app. He can be reached via @JOPopoola

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Top Society Holds Eight Day Fidau Prayer, Grand Reception for The Otunba Adekunle Ojora

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By Eric Elezuo

The intimidating personality of The Otunba Adekunle Ojora, a prince of Lagos, was brought to the fore earlier in the week, when the who’s who in the society turned up to honour his memory at the Eight Day Fidau Prayer held in his honour at the Eko Hotels and Suites, in Lagos.

The ceremony, as solemn as it was meant to be drew gather men and women of influence, whose paths have crossed with the deceased, while he was alive. The Otunba Ojora died at the age of 93.

The events of the day was separated unto two sections: the first was the Prayers proper, which were conducted at the Ballroom of Eko Hotels, while the second, a grand reception, followed immediately after.

The Prayer, which lasted within two hours, was supervised by Sheikh (Dr) Sulaiman Farouq Onikijipa, and assisted by other Sheikhs from Lagos Central Mosque.

In his sermon, Sheikh Onikijipa extolled the virtues of the deceased, thanking God for granting him a long life of imput and impact on the society.

He admonished the congregation of listeners to toe the line of humanity, which Chief Ojora followed while alive, and leave an enduring name of positivity before departing the earth, noting that everyone would be remembered for what they did in their lifetime, just as the crowd that turned out for Adekunle Ojora is a testimony of how impactful upon humanity he lived his life.

With the conclusion of the prayers, and hearty pleasantries exchanged among worshippers, most of which were high profile networking as the environment was filled with the class of men and women of means.

Immediately after the prayer, the congregation moved to the Convention Hall of the same Eko Hotels and Suites, where a generous and sumptuous reception was held, with popular stand-up comedian, Tunde Adewale aka Tee A, anchored and supervised with the king of juju music, King Sunny Ade, and also the Vintage Band thrilling the audience with soulful and evergreen music.

Among A-list invitees, who storm the venue in person, clad in either the ankara asoebi attire or white traditional wear with brown fila cap or gele to match were Africa’s richest man, Alhaji Aliko Dangote, Chief Justice of Federation, Justice Kudirat Kekere-Ekun, former Presidential Candidate and Anambra State governor, Mr. Peter Obi and Wife, former Gov of Akwa Ibom State, Mr. Udom Emmanuel, former Gov of Ekiti State, Dr. Kayode Fayemi & wife, Publisher of ThisDay Newspaper and Arise News, Mr. Nduka Obaigbena, Hajia Bola Shagaya, Mr Kola Abiola, Hon Abike Dabiri-Erewa, former Gov of Bauchi State Ahmed Adamu Mua’zu, former Governor of Ogun State, Aremo Olusegun Osoba & wife, former Commonwealth Secretary-General, Chief Emeka Anyanku & wife, Chief Francis Ogboro & wife, Mr Greg Uansaru, Mr Timi Alaibe, Mr Wale Tinubu, Alhaja Tinubu, General Ike Nwanchukwu (retd) and wife, Deputy Governor of Lagos State, Mr. Obafemi Hamzat, Pastor & Pastor (Mrs) Paul Adefarasin of House on the Rocks, the Olugbon of Orile Igbon, Oba Francis Alao & his Olori, among a host of others.

The event was hosted by the former Senate President, Dr. Bukola Saraki, who is married to the daughter of the deceased, Mrs. Toyin Saraki. Also present at the occasion was the deceased’s widow, Mrs. Ojuolape.

With good music, indepth networking and heartfelt condolences, the farewell of the nonagenarian was observed even as various local and continental dishes, with choice beverages made the rounds to the full satisfaction of the guests.

A highly principled businessman, Adekunle Ojora was born on June 13, 1932, into the distinguished Ojora Royal Family of Lagos, where he grew with a deeply-rooted tolerance for the history, culture and traditional governance of the Yoruba race and Lagos in particular. He died on January 28, 2026.

His lineage placed him among the foremost royal families in the state, a heritage he upheld with dignity throughout his long life. Over several decades, he emerged as one of the most influential figures within Lagos’ traditional institutions, commanding respect across royal, cultural and civic circles.

Ojora was a member of the Ojora and Adele royal families of Lagos and was himself the holder of the chieftaincy of the Otunba of Lagos.

The Otunba Adekunle Ojora would be remembered as a quintessential gentleman,  astute businessman, excellent in speech, dignified in conduct, and deeply respected across generations.

For as many as those who know him, Ojora has for decades, remained a familiar and revered presence in elite social and cultural spaces, where his highly sought-after counsel and calm disposition have proved relevant and needful.

He is also known for his refined lifestyle and strong family values, an embodiment of a “brand of old-school nobility that earned him admiration well beyond wealth or status. He was often described as a man of honour whose life reflected discipline, tradition, and unwavering integrity.

Otunba Adekunle Ojora is survived by his wife, Erelu Ojuolape Ojora, his children, grandchildren and great-grandchildren.

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Glo Boosts Lagos Security with N1bn Donation to LSSTF

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In a landmark gesture underscoring its enduring commitment to national development and public safety, communication giant, Globacom, has donated ₦1 billion to the Lagos State Security Trust Fund (LSSTF), to strengthen security infrastructure across Nigeria’s commercial capital. The contribution stands among the most significant private-sector interventions from the telecommunications industry to the Fund in recent years and reinforces Globacom’s position as a responsible and patriotic corporate citizen.

The donation follows Globacom’s participation in the LSSTF-organised Private Sector Breakfast Meeting with CEOs, hosted by the Executive Governor of Lagos State, Mr Babajide Sanwo-Olu, on Friday, January 30, 2026. The high-level forum emphasised deeper collaboration between government and business on security, innovation and economic resilience—an agenda Globacom has consistently supported through sustained social investment.

Expressing appreciation, the Executive Secretary/CEO of the Fund, Dr Ayo Ogunsan, described Globacom’s gesture as “a powerful demonstration of corporate citizenship and a strategic investment in the stability of Lagos State.” He noted that the LSSTF was established to bridge funding gaps in security infrastructure and therefore relies heavily on voluntary contributions from corporate bodies and well-meaning partners.

According to Dr Ogunsan, the ₦1 billion donation will significantly enhance the Fund’s capacity to address critical priorities for 2026, including multipurpose security helicopters and drones, Armoured Personnel Carriers (APCs), water cannons, digital communication equipment and Smart CCTV systems.

These assets are central to proactive policing, rapid response and intelligence-led operations across the state.

Reacting to the development, a senior executive of Globacom described the donation as an extension of the company’s long-standing belief in Nigeria’s future. “At Globacom, we see security not as a government burden alone, but as a shared responsibility. When people feel safe, enterprise grows, creativity flourishes and hope becomes practical,” the official said. “Our support for the LSSTF is about protecting the everyday dreams of millions of Lagosians.”

Globacom’s intervention is consistent with its long-standing approach to social responsibility—practical, timely and aligned with national priorities. Over the past decade, the company has supported relief efforts for flood-affected communities, assisted displaced persons, advanced youth skills through structured training programmes, and invested in education, culture and digital inclusion. These initiatives reflect a philosophy of giving that privileges institutional impact over personal acclaim.

Dr Ogunsan also urged Lagosians to support organisations that invest in the safety and development of the state. “When companies step forward to secure our environment, residents should reciprocate by patronising them. Their support directly impacts the protection of lives, property and economic activity,” he said.

By strengthening the LSSTF, Globacom is investing directly in the conditions that enable commerce to thrive—safety, confidence and stability. With this support, the Fund is poised to scale its interventions further, reinforcing Lagos State’s position as the country’s safest and most vibrant commercial hub.

As Lagos continues its journey toward global competitiveness, Globacom’s partnership with the LSSTF stands as a model of how the private sector can help secure shared prosperity.

In an industry built on signals, Globacom’s clearest signal remains trust—earned through consistency, conscience and action.

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Ex-AfDB Chief Akinwumi Adesina Launches Investment Platform to Drive Capital to Africa

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Africa appears to have found a deal and investment channel that will help lure scarce capital into a continent that houses 12 of the world’s 20 fastest-growing economies, as rising protectionism and geopolitical tensions weaken capital flows.

The Global Africa Investment Summit (GAIS), a transformative platform co-founded by Akinwumi Adesina, former president of the African Development Bank, is set to bridge African governments, global CEOs, and institutional investors to accelerate the continent’s shift from aid dependency to investment-driven growth.

With the fastest young demographic in the world and a population of nearly 1.3 billion, Africa is punching below its weight as fragmented markets, under-prepared public assets, and a reliance on aid rather than scalable private investment pose the biggest constraint to growth.

“Africa must unlock its vast sovereign assets to generate wealth,” Adesina said in a statement ahead of the summit scheduled to be held in Angola later this year.

“The Global Africa Investment Summit, as a market maker, is the globally trusted platform to unlock mega deals and assets by connecting Africa to global capital.”

Africa’s Foreign Direct Investment (FDI) continues to lag behind both developed and developing economies, representing only 6 percent of global FDI in 2024, according to the United Nations Trade and Development World Investment Report.

GAIS aims to boost Africa’s lagging foreign direct investments by providing investors the enormous opportunities abound in the continent some of which includes the continent’s population projected to double by 2030, with a rapidly growing middle class.

Its consumer market is growing, from $1.4 trillion in 2015 to an expected $2.5 trillion in 2030, opening investment windows for FDIs.

According to the organisers, strategic sectors, including critical minerals, metals, rare earths, energy, agriculture, and digital infrastructure, are primed for investment.

Global leaders including President of Ghana John Mahama, William Ruto of Kenya, Samia Suluhu Hassan of Tanzania, Prime Minister of Italy, Giorgia Meloni, Daniel Chapo of Mozambique, former UN Secretary-General, Ban Ki Moon, former Prime Minister of the United Kingdom, Tony Blair, Africa’s richest man and President, Dangote Group, Aliko Dangote, and Robert Gumede, founder and chairman Guma group have all backed the need for Africa to harness its potential for economic growth.

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