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$1 Trillion Economy: Why Tinubu Must Listen to Dangote, Ekeh, Others
By Aliyu Gaya
One exceptionally commendable fact about the Bola Tinubu presidency is that it is not lacking in ambition and audacity. Courage defines the leader and Tinubu has it in good measure. Think about this: Tinubu wants to grow Nigeria’s net worth to a $1 trillion economy by 2030. While this shows ambition, it is much more a demonstration of audacity in leadership.
To achieve this, Tinubu says Nigeria must lean on and encourage local production. He believes that achieving food security is the sine qua non for advancing the nation’s economy through heavy investments in the agriculture value chain. He is pushing a Nigeria First, Buy-Nigeria policy. Some of his ministers and appointees are also singing the same local production hymn.
A quick fact-check shows that this is not new, especially since the commencement of the 4th Republic. President Olusegun Obasanjo, it has to be emphasised, laid a solid foundation to promote indigenous production of goods and services. He did not chime Buy Nigeria, he lived it, implemented it and the results were profound. The results of Obasanjo’s Buy Nigeria policy manifested in diverse ways. Local patronage of indigenous fruit drinks and ban on imported ones; local production of airtime cards for GSM service providers; local patronage of locally assembled computers that gave a huge boost to local production of the same, such that some ministries, departments and agencies (MDAs) standardised their IT operations on indigenous computer hardware and software.
Sadly, despite the traction gained by indigenous products, the succeeding governments did not even sustain the Buy-Nigeria momentum. Tinubu seems determined to do so. However, to achieve the noble ambition of a $1 trillion economy, President Tinubu must listen to key Nigerians who are not only employers of labour but are deeply committed to indigenous production as the key to unlocking the huge potential of the nation’s economy.
One of such Nigerians Tinubu must take heed to his advice is Aliko Dangote, the President of Dangote Group whose refinery is the biggest single infrastructure project in Africa. Dangote, a major indigenous manufacturer, is not happy with the manner local companies are treated in Nigeria.
Dangote recently advocated for policies that protect indigenous industries and nurture them into mega corporations capable of generating jobs and fostering prosperity. Addressing a gathering of manufacturers and investors in Abuja recently while delivering a keynote on ‘Rethinking Manufacturing in Nigeria’ at the Nigeria Manufacturers’ Summit, Dangote advocated a reversal of government policies that expose local players to vulnerabilities including continued importation of goods and services that are also produced in Nigeria. Such a lack of protection of indigenous players, usually in the form of a lack of patronage from the government and Nigerians, stunts the growth of these local players.
He cited countries where governments had to take drastic measures to protect their respective local markets. These include the blocked sale of US steel to Nippon Steel of Japan, the blocked sale of six US port management companies to Dubai Ports World, restrictions on Chinese cranes at US ports, and the US imposition of tariffs such as 100% on Chinese EVs (electric vehicles), 50% on semiconductors, medical products, and solar panels.
There are other instances, including the restriction of Russia gas supply to Europe, which led European countries to increase coal usage despite opposition to fossil fuels; and the US government’s distribution of $39 billion in subsidies to incentivise local microchip production. The above cases clearly show how respective governments deliberately protect their local players, not only to give them a head-start over competition but also to help them scale up on the path to profitability. Nigerian governments have been short on this.
Leo Stan Ekeh, Chairman of Zinox Group, an African ICT unicorn, is yet another voice Tinubu should give ears to. Ekeh, much like Dangote and others, has been a victim of serial blackmail and corporate bullying despite his undeniable sacrifice to create a digital culture in the Nigerian marketplace including education, media, banking, oil and gas, agriculture and other aspects of the economy. His Computerise Nigeria project became the cornerstone for the establishment of digital hubs in the nation’s tertiary institutions.
Ekeh believes that achieving a $1 trillion economy is possible but stressed that the current state of power delivery nationwide (an average of 4 hours per day according to the latest NBS data) cannot support the type of bullish industrialisation and local production that will bolster the nation’s economic trajectory to the trillion-dollar mark. He warned that a situation where genuine players in local production and service delivery are bullied and blackmailed by unscrupulous private sector fringe players and public sector operators does not bode well for economic growth. He urges more protection from government for the progressive and proven indigenous companies. He says the concept of Buy-Nigeria should be enforced, especially among MDAs.
While expressing confidence in President Tinubu’s ability to address the issue of blackmail, he suggested that Tinubu should aggressively pursue a policy that promotes patronage of indigenous manufacturers and service providers as a way of reflating the economy.
He said: “It is evident that the core of the myriad challenges afflicting the nation today is our failure to develop local capacities. We must embrace self-sufficiency by consuming what we produce and supporting indigenous players across various sectors.”
He regretted that in spite of several local content policies established by the Federal Government, such policies are consistently disregarded by government employees and appointees, wondering why “we send our children to the world’s best institutions, where they excel, yet we overlook the products they create.”
He gave the example of the government of India, which effective November 1, 2023, placed restrictions on the importation of laptops, tablets, all-in-one personal computers and ultra-small computers and servers with immediate effect. This, according to him, was to boost local productivity both by multinationals operating in India and indigenous Indian companies to create more jobs, encourage proficiency, and discourage capital flight.
“Mr. President, I humbly appeal to you to be deliberate and decisive in encouraging indigenous producers and service providers across all sectors. This way, we create a market for indigenous products, build confidence in our economy and easily attract international investors. The way we treat our local investors will determine how many foreign investors we can attract,” he stated in an open letter to the President earlier this year. The voices of Dangote and Ekeh echo the voices of other indigenous players who have continued to deliver value amid vicious headwinds.
Speaking at the inaugural Domestic Investors Summit in Abuja recently, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, reaffirmed Tinubu’s determination to achieve the trillion-dollar economy. She outlined targets for 2025, including $6 billion in foreign direct and portfolio investment, $6.5 billion in non-oil exports, a 20 per cent increase in trade value, and the creation of 200,000 export-led jobs. This is grand. But the major pulley that will drive this growth is the recommendation of Dangote, Ekeh, and other indigenous players, which is that the government should, as a priority, protect local investors and entrepreneurs through patronage, a policy shift that encourages growth, and categorising such investors’ assets as national assets deserving of preservation.
Gaya, a public policy analyst, writes from Kano.
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Global South Alliance Launches $72,000 Datafication and Democracy Fund to Support 2026 Research Projects
The Global South Alliance, a coalition of 26 digital rights organizations, launched today the second edition of the “Datafication and Democracy Fund” on December 9.
Global South Alliance
The Fund will provide more US$ 72,000 to support research and advocacy projects focused on datafication and democracy to be implemented in 2026.
The Datafication and Democracy Fund was launched during the fourth edition of the Data Privacy Global Conference, organized in São Paulo, Brazil. The Global South Alliance is jointly managed by Data Privacy Brasil, Aapti Institute, and Paradigm Initiative.
The members are Asociación por los Derechos Civiles, Bolo Bhi, Center for Communication and Governance, CIPESA, Derechos Digitales, Digital Rights Foundation, Dukingire Isi Yacu, Internet Bolivia, Pollicy, Research ICT Africa, Fundación Multitudes, InternetLab, Thraets, Jokkolabs Banjul, Aláfia Lab, Centre for Policy Alternatives, KICTANET, Tech Global Institute, Freedom Forum, TEDIC, Digital Access, Center for AI and Tech Innovation for Democracy and Masaar.
The call for proposals is open to non-profit, non-governmental organizations based in the Global South working on digital rights and related public policy issues. Previously supported organizations have addressed topics such as online child protection, data governance in electoral processes, biometric technologies in stadiums and large events, mandatory biometric data collection of migrants, and discriminatory surveillance and datafication practices.
According to the launch announcement, the Datafication and Democracy Fund “aims to finance research and public policy analysis projects that address critical questions arising from the impact of datafication on democracy.” The Alliance emphasizes that “datafication is a deep and complex process of social transformation: it shapes the provision of public services mediated by information technologies, the emergence of digital public infrastructures, the data-driven nature of elections, the reconfiguration of markets and platforms, and many aspects of civic life. Beyond deliberative processes and elections, datafication exacerbates democratic challenges such as transparency, due process, and respect for citizens’ autonomy.”
Selected applicants will receive grants of up to US$ 8,000 to support their research projects. Depending on the proposals submitted, between 8 and 12 projects will be funded. All funded projects must be carried out during 2026.
Applicants are required to submit:
A one-page cover letter outlining the organization’s background, experience, and motivation for participating in the research program;
A proposal of up to five pages detailing the topic, scope, methodology, expected results, and relevance of the project to digital rights and democracy in the Global South;
A detailed budget, not exceeding US$ 8,000, specifying how resources will be allocated across the proposed project’s components.
Applications must be submitted in English by January 30th 2026, through the designated online form.
South Africa’s leading pay-TV operator, Multichoice, owner of DStv and Showmax, will officially delist from the Johannesburg Stock Exchange (JSE) this week following its acquisition by French media giant Canal+.
DStv
The delisting, scheduled to take effect on Wednesday, Dec. 10, 2025, also applies to Multichoice’s ordinary shares on the A2X Markets.
The move comes after Canal+ completed a Squeeze-Out of remaining shareholders, securing full ownership of the company after nearly two years of acquisition efforts.
According to the company, the delisting remains subject to regulatory approvals from the JSE, the A2X, and the South African Reserve Bank. Canal+ has pledged to comply with conditions set by South Africa’s competition authorities and intends to proceed with a secondary inward listing on the JSE within nine months of the delisting.
Founded in 1985 with the launch of M-Net, Multichoice has been a household name across Africa for four decades. It introduced DStv in 1995, expanded into multiple African markets, and launched its streaming platform, Showmax, in 2015.
In 2019, Multichoice was spun out of Naspers, South Africa’s most valuable company, and later began secondary trading on A2X in 2020.
The acquisition by Canal+ marks a significant shift in South Africa’s media landscape. Local investors will no longer be able to hold direct stakes in Multichoice, but will only gain indirect exposure once Canal+ completes its planned inward listing.
Industry analysts say the takeover underscores the growing consolidation in global media markets, with Canal+ strengthening its footprint across Africa through Multichoice’s extensive subscriber base and sports broadcasting rights via Supersport.
By Kehinde Ogundare, Country Head, Zoho Nigeria
Artificial intelligence is everywhere–in polished social media posts, in the recommendations that guide our viewing habits, and in the bots that handle customer queries before a human agent steps in. On LinkedIn, AI-assisted writing has become standard practice. A year ago, more than half of English long-form posts that went viral were estimated to have been written by or assisted by AI. If that’s the norm on the world’s biggest business network, it’s no surprise that AI is driving conversations in Nigerian boardrooms as companies move from experimentation to embedding AI into their daily operations.
Kehinde Ogundare, Country Head, Zoho Nigeria
Part of the package
The Nigeria Data Protection Act (NDPA), modelled on the European Union’s General Data Protection Regulation, together with the Nigeria Data Protection Commission, requires companies to build privacy into their systems from the outset rather than adding it later. This clear regulatory framework has evolved alongside a rapid rise in AI adoption.
New research from Zoho on responsible AI adoption highlights the impact of the regulations. As per the report, 93% of Nigerian companies have already started using AI in their daily operations; 84% have tightened their privacy controls after adoption, and 94% now have a dedicated privacy officer or team, which is well above global averages.
The survey, conducted by Arion Research LLC among 386 senior executives, shows just how deeply embedded AI has become in Nigeria. One in four companies already uses it across several departments, and nearly a third report advanced integration. Financial services firms are pioneers in this sector, using AI to automate client interactions, streamline operations and sharpen their marketing, while staying compliant with data protection rules.
The NDPA has helped make privacy part of business planning. Four in ten companies now spend more than 30% of their IT budgets on privacy. Regular audits, privacy impact assessments and explainability checks are becoming standard practice.
Skills, compliance and capacity
Rapid adoption brings challenges. More than a third of businesses say that their biggest obstacle is a lack of technical skills, and another 35% cite privacy and security risks. Instead of outsourcing, most are building capacity in-house: nearly 70% of companies are training staff in data analysis, more than half are improving general AI literacy, and 40% are investing in prompt engineering for generative tools.
The understanding of the NDPA regulation, which came into force in 2023, has also improved. 65% of organisations see compliance as essential. Many voluntarily apply data-minimisation and transparency standards even when not required to do so, aligning more closely with international norms and easing collaboration with global partners.
Privacy is increasingly influencing business decisions — from investment priorities to system design. Companies are asking tougher questions: is specific data essential? How can exposure be limited? How can fairness and transparency be proven?
Trusted systems
As privacy becomes part of how technology is built, companies are being more cautious about the tools they use because they now want systems that protect customer data, with clear boundaries between data and model training, straightforward controls, and reliable records for compliance teams.
Demand for business software that balances productivity with privacy is also growing. Zoho, among others, has seen strong customer growth as more organisations are looking for platforms that support responsible data handling.
The study identifies three main reasons behind AI adoption: to make work more efficient by automating routine tasks, to support better decision-making by identifying patterns sooner, and to improve customer engagement through faster, more relevant interactions. But none of this can succeed without trust. Nigeria’s experience shows that privacy and innovation can reinforce each other when they’re built together.
There’s still work to do because some industries are moving faster than others, and smaller businesses often face the biggest hurdles in time, cost and skills. Enforcement is also patchy; while the law is clear, application across sectors and geographies is a work in progress.
The next steps are more practical, requiring investment in skills – from data analysis and AI literacy to sector-specific training – and for governance to be put in place, with clear responsibilities, written policies, and a plan for managing errors or breaches. Privacy impact assessments should become part of every new system rollout, enabled by technology.
As AI becomes fundamental to doing business, Nigerian companies that build it carefully and responsibly will be better able to compete at home and abroad.
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