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Jim O’Neill at AFC Live Lists 4 Agenda for Africa’s Development
Jim O’Neill, renowned economist who coined the ‘BRIC’ and ‘MINT’ acronyms, declares the African infrastructure divide, ‘both a defining challenge and a standout investment opportunity of our generation’.
Speaking at Africa Finance Corporation (AFC) inaugural summit 2014 held in Lagos, O’Neil said that Africa’s future depends on the continent’s policy makers doing the right thing.
The four key areas he wants African leaders focus on include redefining (better) governance, reducing crime, fighting corruption and delivering improved infrastructure.
According to him, “Africa’s future depends on the continent’s policy makers doing the right thing. That is working to create better governance, reducing crime, fighting corruption and delivering improved infrastructure. Infrastructure development is both a defining challenge and a standout investment opportunity for Africa and investors around the world. For example, Nigeria is growing at 7% despite poor access to power; decent power could boost economic growth to 10%-12%. There is no reason why Nigeria should not become one of the G20.”
The Summit christened ‘AFC live’ attracted more than 500 leading thinkers from government, academia, business and finance, fuelled energetic debate on both the opportunities and the challenges of the African infrastructure landscape.
O’Neil who is also the former chairman of Goldman Sachs Asset Management, identified that, infrastructure in general, has been estimated to have the potential to add an average of 2% to Africa’s economic growth rate over the next decade as investment is brought to bear to bridge the current circa US$40 billion per annum investment deficit.
Andrew Alli, president and chief executive officer (AFC), told the delegates that, “The sheer number of people here today, passionately engaged in the debate on infrastructure and what it means for the future of this great continent, is inspiring.
“Our vision at the AFC is to bridge the infrastructure divide and seek a strong return for our shareholders at the same time. We believe our core role comes at the earliest stage of project conception and development.
“While international capital will be fundamental in bridging the investment divide, that capital will have nowhere to go if Africa does not focus on the development of bankable, sustainable projects. By focusing on supporting project development and using our local knowledge and sector expertise to identify and mitigate risk we come in to transactions at an earlier stage than many investors.
“Our role is to accelerate the number of viable, bankable projects across the continent, creating the market for other forms of capital that will follow, and ultimately bridging the investment divide that exists. We believe landmark transformational projects can yield financial dividends every bit as powerful as their social ones and our success to date demonstrates this.”
At a ceremony on stage, Cape Verde Minister of Finance Cristiana Duarte signed the instrument of accession for membership of the AFC.
Cape Verde becomes the 9th country to join other member nations, including: Chad, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Nigeria and Sierra Leone.
AFC is a pan-African investor and its investments are not limited to member states.
Cristiana Duarte, minister of Finance of Cape Verde said, “I am very pleased today to be able to formalise Cape Verde’s membership of the Africa Finance Corporation. Cape Verde and the AFC have enjoyed a very productive and collaborative relationship over the last few years.
“As the lead investor in Cabeolica, our award winning $90 million 26MW commercial wind farm we have firsthand experience of the expertise the corporation can bring to innovative projects and we look forward to working to deliver more projects over the coming years.”
Baring his mind on the infrastructural deficit in Nigeria, particularly, the power sector, Mr. Tony O. Elumelu, chairman of Transcorp Plc, managers of Ughelli Power Plant, said investors in both the power generation and distribution have not forgotten their promises to deliver to Nigerians, adding that, public awareness needs to be created on the progress made under the privatilization scheme.
Elumelu had declared intent of Transcorp Plc to leverage their time tested expertise in turning around businesses in growing the Ughelli Power Plant to a 1000mw generating plant by 2017.

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Broadcasting
NBC Scraps Annual Digital Access Fee on DSO

National Broadcasting Commission (NBC) has said that Nigerians will no longer pay annual Digital Access Fees under the renewed Digital Switch Over (DSO) project.

Charles Ebuebu, director-general, NBC, disclosed this in an exclusive interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja,
Ebuebu said viewers only need to purchase an approved decoder and satellite dish which cost below N20,000 to enjoy free television permanently.
“Previously, users paid an annual digital access fee of about N1,500, described as an administrative charge.
“The new system removes that annual fee. It provides free access to free-to-air television channels without any payment.
“Premium channels will be introduced later. Viewers who want those additional channels will be able to access them through paid services.
“Nigerian content on free-to-air channels remains free to watch. Unlike Pay TV, this platform does not require monthly subscriptions for its basic service,” he said
Ebuebu said approved decoders for the FreeTV will cost less than N20,000 and authorised sales outlets will soon be announced.
He urged Nigerians to wait for official information on approved dealers for the DSO decoders, warning that unauthorised sellers are exploiting growing public demand.
He reiterated that people only need a free-to-air decoder, along with a satellite dish instead of the old antenna system to receive the DSO signal.
“Once the equipment is installed, viewers can access all available channels across the country without paying any subscription fees,” he stressed
The DG dismissed claims by some retailers that there are different categories of decoders sold at varying prices, stressing that such sellers are not authorised by the commission.
According to him, the NBC will soon publish the list of approved dealers, official prices, and locations where genuine decoder boxes and accessories can be purchased.
The NBC boss said the DSO project is designed not only to improve television broadcasting but also to stimulate economic growth by creating jobs, attracting investment, and opening up opportunities for businesses that support the broadcasting industry.
Ebuebu noted that content producers and broadcasters stand to benefit significantly from the nationwide reach of the DSO platform.
Unlike the previous system, where many stations had limited regional audiences, he said the new platform will make their channels available to viewers across Nigeria.
He added that the introduction of audience measurement technology will provide scientific and reliable data on television viewership.
Ebuebu added that audience measurement technology will give advertisers greater confidence in placing adverts and enable broadcasters to demonstrate the true size and reach of their audiences nationwide.
Telecom
Surge in Fibre Cuts Hobbles Service Provisioning

Nigeria’s telecom operators recorded 155, 397 fibre-cut incidents between April and May 2026, and these they blame on why internet or calls suddenly stop working.

Data from the Nigerian Communications Commission (NCC) showed fibre-cut incidents increased from 74 276 in April to a record 79 121 in May, bringing the two-month total to the highest level recorded by the industry.
This represents a 2 428% increase from the 5 934 incidents reported during the first quarter of 2026.
Vandalism remained the leading cause of fibre cuts, accounting for more than 54 000 incidents despite telecom infrastructure being designated as Critical National Information Infrastructure, a classification intended to strengthen protection of key digital assets.
Also road construction constantly damages fiber where iggers and machines tear up buried cables during road repairs or construction.
Even with all these, some state governments make it hard for companies to fix cables quickly across different areas with all manners of fees and levies.
The NCC designation provides for penalties of up to 10 years’ imprisonment for offenders, but operators continue to face widespread infrastructure damage.
Proposed solutions, including Nigeria’s Dig-Once policy and AI-powered fibre sensing technologies, have yet to achieve widespread adoption.
The NCC is developing a cost-based framework for shared underground duct infrastructure, while operators are exploring AI-powered fibre sensing technologies that can detect cable damage in real time and improve network resilience.
Nigeria is pursuing ambitious broadband targets under its National Broadband Plan and has expanded fibre deployment to about 35 000 kilometres.
However, infrastructure protection has not kept pace with network expansion, leaving subscribers vulnerable to unreliable connectivity despite continued operator investment.
General News
Why Bandits, Kidnappers are Hard to Trace despite NIN-SIM Linkage – FG

National Identity Management Commission (NIMC), has explained why kidnappers and terrorists are not always traceable despite the country’s expanding digital identity infrastructure.

NIMC explanation pointed to a simple but significant gap in the system.
Abisoye Coker-Odusote, director-general of the agency said that: “A lot of the time, you find out the kidnappers use the phones of the people they have abducted, which means how do you trace them because they are not using their own phones?” she said.
Coker-Odusote spoke during an appearance on Channels Television, where she was asked to explain why criminals remain difficult to trace despite the mandatory NIN-SIM linkage policy.
She said criminals frequently frustrate investigations by using mobile phones belonging to their victims, instead of their own registered lines.
“We already know the NIN is the foundational identity for the security architecture, but a lot of the time, you find out the kidnappers use the phones of the people they have abducted. Which means, how do you trace them because they are not using their own phones?” she said.
She also suggested that some criminal elements involved in kidnapping operations may not even be captured in Nigeria’s identity database.
“There is a theory that it may be possible that these kidnappers are not Nigerians and are brought into the country 48 or 72 hours before a kidnapping takes place specifically for that purpose. I’m not insinuating anything, but if that were the case, they naturally would not be captured in our database,” she added.
The comments have revived questions about whether expectations placed on the NIN-SIM linkage have exceeded what the system was designed to deliver.
The NIN-SIM linkage exercise was introduced by the Nigerian Communications Commission (NCC) in collaboration with NIMC to strengthen identity management, eliminate anonymous SIM ownership and support national security.
Over the years, the exercise resulted in millions of subscribers linking their SIM cards with their National Identification Numbers, while telecom operators also deactivated millions of lines that failed to comply with regulatory directives.
Earlier, the NCC maintained that the policy was aimed at improving the integrity of Nigeria’s SIM registration database, strengthening identity verification and supporting security agencies in criminal investigations.
The regulator also described the exercise as an important component of the country’s digital economy and national security framework.
Telecommunications operators have consistently maintained that while they play a critical role in implementing the NIN-SIM linkage policy, they are not responsible for tracking criminals.
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