E-Business
Nigeria to Spend N19Bn on Software in New Budget

The Nigerian government will spend N19 billion on computer software in 2022, according to the budget proposal for the year submitted by President Muhammadu Buhari to the National Assembly.

While the items are essential for government operations, their cumulative cost compiled by Premium Times is higher, in part, due to fragmented purchases by agencies that have little or no consideration for cost-reduction or value.
The amount is spread across nearly 200 offices, and is bound to be a lot higher as it does not cover computer and software expenditure by the armed forces and dozens of government offices whose budgets are not submitted as part of the whole to the National Assembly.
Some offices not listed in the government’s general annual budget document include the Central Bank of Nigeria, Customs Service, NNPC and Federal Inland Revenue Service (FIRS).
Punch reported on Monday that the tax office, FIRS, plans to spend a whopping N2.04 billion all by itself on computers alone, and another N1.3 billion on “office stationery and computer consumables.”
Rising software spending
The huge figures help raise the budget’s total deficit to over N6 trillion.
At a time of low government revenue, they reflect how the country is made to bear the burden of increased spending on items that are ordinarily vital for government operations, but whose costs are made higher, in part, due to fragmented purchases by agencies that have little or no consideration for cost-reduction or value.
As countries continue to respond and recover from public health uncertainties due to the COVID-19 pandemic, spending on IT products by governments around the world is expected to rise next year to $557.3 billion, an increase of 6.5 per cent from 2021, according to Gartner Inc., a Stamford, Connecticut-based technology research and consulting company.
Gartner said in an August forecast that the disruptions caused by the pandemic have also reinforced a key digital government tenet, which is that “public policy and technology are inseparable.”
Many governments have over the years put in place processes that take advantage of bulk and discounted procurement of software to save cost.
In 2016, the United State government issued a new policy that tightened the reins on wasteful software purchasing by its agencies.
The policy made it mandatory for agencies to appoint officials to centrally manage their software buying.
Agencies were also required to continually update inventory of software licenses to track usage and remove redundant applications.
The policy aimed to “save taxpayers’ money and deliver more value for the American people.”
There is no indication the Nigerian government has made efforts to streamline its spending in a similar manner. The lack of coherence sometimes leads to apparently inflated rates for computer services and packages.
In 2020, Premium Times reported how the Kogi State government claimed it spent N150 million on a software to track coronavirus cases.
The company contracted by the government confirmed to Premium Times that the package sold for only N300,000.
Amid public backlash, the government later claimed the actual amount it spent was N890,000, without explaining the whereabouts of the huge balance.
Also, in 2015, Fashola Babatunde, minister of Works and Housing, said a IT firm developed his personal website for N78 million, but the firm initially denied being paid the amount.
It subsequently clarified that less than N10 million was paid by the Lagos state government for the website.
E-Business
Nigeria Targeted with 4,622 Cyber-attacks Per Week in December 2025

In December 2025, organisations globally faced sustained cyber pressure, as the average number of cyber-attacks per organisation per week reached 2 027, a 1% increase from the previous month and a 9% increase from December 2024.

This is according to December 2025 Global Cyber Attack Statistics by Check Point Research, the threat intelligence arm of Check Point Software Technologies.
According to the statistics, Latin America was the hardest hit, with companies experiencing an average of 3 065 cyber-attacks per week, a 26% year-over-year increase.
In contrast, Africa saw a decline in attacks, with Nigeria (4 622 attacks per week) and Angola (4 002 attacks per week) being the most targeted countries on the continent.
The report’s findings highlight the evolving cyber threat landscape, with ransomware and GenAI-driven data risks posing significant challenges to companies worldwide.
Ransomware attacks jumped 60% year over year, with 945 publicly reported incidents in December. Qilin was the most active ransomware operator, responsible for 18% of publicly disclosed attacks.
“Ransomware continues to scale through industrialised operations, while unmanaged GenAI usage is creating widespread data exposure at enterprise level,” said Omer Dembinsky, data research manager at Check Point Research.
The report noted the education sector was the most targeted industry globally, with 4 349 cyber attacks per week; followed by government (2 666 attacks per week); and associations and non-profits (2 509 attacks per week).
The widespread adoption of GenAI tools has introduced new cyber security risks, with one in 27 GenAI prompts posing a high risk of sensitive data leakage.
Experts warn that companies must prioritise prevention-first security, real-time AI threat intelligence and strong governance over AI tools to mitigate these risks.
Hendrik de Bruin, head of security consulting at Check Point Software, added: “Strengthening ransomware resilience, deploying AI-powered prevention and enforcing clear GenAI governance will be critical to reducing cyber risk in the year ahead.”
E-Business
Half of Global Companies Build SOCs to Enhance Cybersecurity, with a Focus on Human Expertise

Among the primary reasons for establishing a Security Operations Center (SOC) are strengthening cybersecurity posture, enabling faster detection and response and gaining a competitive edge.

Interestingly, despite the increasing demand for automated cybersecurity solutions, businesses rely on skilled security professionals to make key decisions, as human expertise remains essential for effective security management.
A Security Operations Center (SOC) is a dedicated organisational unit responsible for continuous monitoring and safeguarding of a company’s IT infrastructure. Its core mission is to proactively detect, analyse and respond to cybersecurity threats.
To identify the main drivers, strategic priorities, and potential challenges in SOC planning and implementation, Kaspersky has conducted a comprehensive global study involving senior IT security specialists, managers and directors from companies with 500 or more employees.
All participants operate without a SOC but have plans to establish one in the near future. The study spans 16 countries across APAC, META, LATAM, Europe, and Russia, providing valuable insights into the emerging trends and best practices in SOC development worldwide.
The findings of the research reveal that 50% of companies intend to establish SOCs to strengthen their cybersecurity posture, and 45% are motivated by the need to address increasingly sophisticated and dangerous threats.
Other drivers include budget optimisation, the necessity for faster detection and response, and the expansion of software, endpoints and user devices – factors that demand more comprehensive and layered security measures.
These are cited by 41% of organisations. Additionally, 40% seek better protection of confidential information, 39% aim to meet regulatory requirements and one-third (33%) expect SOC capabilities to provide a competitive edge. Larger enterprises tend to cite each of these reasons more often, reflecting the broader operational and regulatory pressures they experience.
Continuous monitoring becomes the leading SOC requirement
Among the key functions organisations plan to delegate, 24/7 security monitoring leads at 54%. This around-the-clock vigilance enables early detection of anomalies, prevents escalation and sustains cyber resilience in real-time. This demand highlights a strategic requirement for proactive risk management, as organisations aim to defend against persistent threats that can strike at any moment.
Companies intending to fully outsource SOC operations show a stronger interest in applying “lessons learned” methodologies, whereas those developing internal SOCs focus more on access management to maintain tighter control.
Human expertise drives SOC technology choices
While SOCs use advanced technology, the choices made by organisations show that human analysts are very important. Among the solutions that organisations plan to include in SOC are – Threat Intelligence Platforms (48%), Endpoint Detection and Response (42%) and Security Information and Event Management systems (40%) – sophisticated solutions that automate data collection and reduce operational load, however, they depend heavily on skilled security professionals who provide critical context, interpret complex findings and make final decisions when guiding appropriate responses.
Other solutions chosen include Extended Detection and Response (38%), Network Detection and Response (37%) and Managed Detection and Response (33%). Large enterprises tend to adopt more technologies (5.5 per SOC on average), while smaller ones integrate fewer (3.8).
“To successfully build a SOC, companies must prioritise not only the right mix of technology but also the careful planning of processes, clear goal-setting and effective resource distribution.
“Well-defined workflows and continuous improvement are essential to ensure that human analysts can focus on critical tasks, making the SOC a proactive and adaptable component of their cybersecurity strategy,” comments Roman Nazarov, Head of SOC Consulting at Kaspersky.
E-Business
Nigerian Terra Industries Secures $11.8m for Expansion

Terra Industries, a Nigerian defence technology startup, has raised $11.75 million to expand its development of defensive systems that protect critical facilities across Africa.

The fundraising round was led by Silicon Valley venture firm 8VC, which was founded by Palantir co-founder Joe Lonsdale.
Other investors in the round include Valour Equity Partners, Lux Capital, SV Angel, and Nova Global, as well as African-focused funds Tofino Capital, Kaleo Ventures, and DFS Lab.
Terra Industries, founded in Abuja by Nathan Nwachuku and Maxwell Maduka, provides multi-domain security solutions for both air and land. Its solutions are intended to detect and respond to threats including terrorism, sabotage, and armed attacks on infrastructure.
The company’s product portfolio includes surveillance drones, ground-based robotic systems, and fixed monitoring towers deployed around sensitive locations.
Co-founder and CEO Nathan Nwachuku said the company has now fully embraced its identity as a defence-focused startup, citing the growing urgency of security challenges across Africa.
He said safeguarding critical infrastructure from terrorist threats has become unavoidable.
Nwachuku argues that protecting Africa’s infrastructure requires a different approach, one that combines local manufacturing, end-to-end system control, and software capable of independently identifying and responding to threats over large areas.
The company aims to position itself as a defence prime, similar to the role played by firms such as Anduril Industries and Palantir in the United States.
Nwachuku also disclosed that the company had earlier raised $800,000 in pre-seed funding.
With the new funding, Terra plans to increase manufacturing capacity within Africa, establish additional defence production facilities, and expand its artificial intelligence and software teams.
While software offices are planned for San Francisco and London, the company said manufacturing operations will remain on the continent.
E-Financial2 days agoAngst as FG Demands 7.5 Percent VAT on Mobile Bank Transfers, USSD
News2 days agoMoniepoint Launches Second Cohort of DreamDevs Initiative to Double Down on Africa’s Tech Talent Pipeline
E-Financial2 days agoNGX lists 3.156bn UBA shares, boosting capital to N513Bn
Telecom2 days agoGlo Unveils Immersive Gaming Experience, Travel Saga
E-Financial2 days agoThe Missing Pieces in Nigeria’s Banking Recapitalisation
E-Business2 days agoHalf of Global Companies Build SOCs to Enhance Cybersecurity, with a Focus on Human Expertise
General News2 days agoNITDA DG Reaffirms Nigeria–U.S. Partnership on Data Privacy, AI and Cybersecurity
General News2 days agoParadigm Initiative Condemns the Internet Shutdown and Media Restrictions in Uganda Ahead of the 2026 General Election


















