Telecom
Moniepoint and Afrigopay Unite to Drive Digital Payments and Financial Inclusion in Nigeria
In a significant move to further enhance the availability of digital payment services to Nigerians, Moniepoint Inc has announced a strategic partnership with Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), to further enhance the government’s digital payment agenda, by driving tap-to-pay solutions as well as accelerating the adoption of AfriGO Card, Nigeria’s National Domestic Card Scheme nationwide.
L-R Managing Director, Moniepoint MFB, Babatunde Olofin; Chief Operating Officer, AfriGOPay Financial Services, Ugo Obasi; MD/CEO, AfriGOPay Financial Services, Ebehijie Momoh and Co-Founder and Group CEO, Moniepoint Inc, Tosin Eniolorunda during a courtesy visit to AfriGo in Lagos.
This collaboration will also leverage Moniepoint’s extensive reach and robust infrastructure to avail an innovative solution which allows users to make payments by tapping or hovering their contactless card or Near Field Communication (NFC) enabled device over a payment terminal or directly on compatible mobile phone devices.
Moniepoint, already a leader in driving digital payments and financial inclusion in Nigeria, will utilize its vast network and technological expertise to facilitate the rapid scaling of the AfriGO cards. Known for its innovative solutions that empower small and medium-sized enterprises (SMEs) and individuals, Moniepoint has consistently demonstrated its commitment to bridging the financial inclusion gap and has committed to deploying 5 million AfriGO cards.
AfriGO aims to deepen financial inclusivity by utilizing innovative products, a customer-focused approach, and cutting-edge technology. By reducing the country’s dependency on foreign exchange (FX) for payment transactions and ensuring data sovereignty, AfriGO Card strengthens and empowers local businesses, creating new opportunities within the growing card business ecosystem in Nigeria.
“Our partnership with AfriGO aligns perfectly with our ongoing mission to engineer financial happiness for every Nigerian while driving convenience, transparency and security with contactless payments,” stated, Tosin Eniolorunda, CEO Moniepoint Inc. “The Moniepoint/AfriGO card is not just a product; it’s a vital tool that will extend our reach, particularly to those who have been traditionally excluded from the formal financial system. Building on Moniepoint’s impressive track record, this partnership will offer Nigerians a more affordable payment option while ensuring instant transaction settlement through AfriGO. Additionally, it will further drive financial inclusion across the country”.
He continues, “the benefits of contactless payments are far reaching and will be great for our ecosystem. There are mutual synergies in unlocking potentials by creating a better life through our services for all Nigerians and we can reshape the digital economy so everyone — individuals, financial institutions, governments and businesses — can realize their ambitions.”
Speaking on the collaboration, the Managing Director & CEO of Afrigopay Financial Services Ltd. (AFSL), Mrs. Ebehijie Momoh, stated, “This partnership is set to transform financial service delivery, particularly in underserved areas, by leveraging AfriGO’s innovative payment solutions. With AfriGO Cards, merchants and agents will experience seamless transaction finalization and instant settlement, leading to improved efficiency, better cash flow management, and reduced risk. Backed by robust technology infrastructure and effective liquidity management, AfriGO ensures smooth and secure operations, further enhancing accessibility and driving financial inclusion”.
She added, “Moniepoint’s extensive agent network will play a key role in expanding this reach, supporting local businesses and delivering essential banking services, including purchases, deposits, withdrawals and money transfers. Together, we are creating a more connected and inclusive financial ecosystem, making transactions faster, more reliable and widely accessible to Nigerians.”
This partnership reinforces the industry’s commitment to offering advanced, efficient payment solutions while significantly giving a boost to digital payment adoption in Nigeria, offering a secure, local alternative to international payment cards and shaping the future of payments in Nigeria.
Moniepoint has been instrumental in transforming Nigeria’s financial landscape by providing reliable and accessible digital payment solutions. Their agent network, spanning across the country, has significantly contributed to bringing financial services closer to underserved communities. The company’s focus on empowering SMEs with reliable point-of-sale (POS) terminals and digital banking tools has fostered economic growth and financial stability.
Nigeria is partnering with Burkina Faso on Project Building Resilient Digital Infrastructure for Growth (BRIDGE), to extend terrestrial fiber-optic routes through Niger and Benin, aiming to cut Burkina Faso’s internet transit costs by up to 50 percent.
Dr. ‘Bosun Tijani, minister of Communications, Innovation and Digital Economy and Dr. Aminata Zerbo-Sabané, his Burkinabe counterpart, have sealed a deal to establish a joint technical committee for regional digital integration at a meeting in Ouagadougou, Burkina Faso’s capital.
At the centre of the discussions was BRIDGE, Nigeria’s connectivity initiative aimed at expanding access to faster, more affordable and resilient internet infrastructure.
Under the proposed collaboration, technical teams from both countries will assess connectivity routes linking Nigeria to Burkina Faso through Nigeria-Niger-Burkina Faso and Nigeria-Benin-Burkina Faso corridors.
The assessment is expected to identify a viable pathway for lowering Burkina Faso’s internet connectivity costs by up to half.
The two countries also agreed to establish a Technical Working Committee to develop an implementation framework for the partnership.
The cooperation will extend beyond fibre infrastructure to other areas of the digital economy.
Nigeria and Burkina Faso plan to explore collaboration on digital skills and talent development, including the potential sharing of Nigeria’s 3 Million Technical Talent (3MTT) model.
The countries will also seek to strengthen ties between their startup ecosystems, support Burkina Faso’s Innovation Campus and collaborate on artificial intelligence, local-language technologies, shared computing infrastructure, cybersecurity and research.
Tijani said the engagement forms part of Nigeria’s broader outreach to neighbouring countries, following a recent visit to Benin Republic, with planned engagements in Niger and Chad.
Federal government said the broader objective is to leverage the country’s expanding digital infrastructure and capabilities to support shared economic opportunities across borders, strengthen regional digital integration and position Nigeria as a digital gateway connecting West Africa and the Sahel.
As the federal government is thinking os helping Burkina Faso, Nigeria’s internet cost is too high.
The cost of internet in Nigeria is driven by a 50% tariff floor increase approved by the Nigerian Communications Commission (NCC), pushing average mobile data to over ₦431 per GB.
Major telecom networks, fiber providers, and satellite services like Starlink have raised prices due to severe inflation, local currency devaluation, and expensive diesel maintenance for cell towers.
Airtel Nigeria is approaching the 18,000-cell-site mark as the telecommunications operator accelerates network deployment across the country, adding more than 1,000 new sites annually and extending high-speed mobile connectivity deeper into rural communities.
The expansion places Airtel as an operator making one of the largest sustained infrastructure commitments to Nigeria’s digital economy, with the company’s network now spanning all 774 Local Government Areas in the country.
More than 99 percent of Airtel Nigeria’s sites are 4G-enabled, with the company continuing to add new capacity and upgrade existing infrastructure as demand for mobile connectivity rises. Airtel Africa’s latest annual report said the Nigerian operation added more than 1,050 new sites during its 2025-26 financial year.
The pace represents a significant increase from the approximately 15,000 sites Airtel operated two years ago. By early 2026, the operator had crossed 17,000 sites, after adding about 2,000 sites in two years.
The current expansion has also taken the network further into locations that have historically been underserved by telecommunications infrastructure. These communities include Kukawa, Borno State; Okomu-Udo, Edo State; Chimbi, Niger State; Orile Ijaiye, Oyo State; Kopii, Benue State; and Aran-Orin, Kwara; among others.
Airtel has previously said a significant portion of its network investments is targeted at deep rural communities, small towns and the fringes of major cities. At a media roundtable in February, Chief Executive Officer, Dinesh Balsingh, said the company intended to maintain the large scale of network expansion during 2026.
“Everyone has the right to digital connectivity, including people in deep rural markets and small communities,” Balsingh said.
The impact of the growth extends beyond the ability to make calls or browse the internet. Wider network availability gives families more reliable access to one another, enables businesses to communicate with customers and suppliers, and supports access to digital banking, education, healthcare and government services.
For farmers in remote areas, mobile connectivity can provide access to current crop prices, weather information, market information and agricultural advisory services. For small businesses, reliable mobile data supports payments, customer acquisition, logistics and digital commerce. For communities, connectivity can improve access to health and social services and help residents participate more fully in the digital economy.
Airtel’s network strategy is also increasingly focused on improving the experience delivered through the infrastructure already in place. In 2025, the company upgraded capacity on about a quarter of its existing sites, deploying higher-capacity radios and moving portions of its backhaul from microwave to fibre.
The operator has also reported a continued addition of spectrum to strengthen its spectrum position. Since November 2025, it has added 20MHz spectrum, which is on track for full integration on all sites this quarter.
Balsingh said the company’s investment programme was designed to improve coverage, capacity and resilience, with the benefits ultimately reflected in the quality of service experienced by customers.
“We have invested with discipline and clarity to strengthen our network nationwide. Those investments are now translating into measurable improvements in performance, customer experience and reach, including in underserved communities,” he said.
Third-party measurements have also continued to provide evidence of changing network performance in Nigeria. Ookla’s Speedtest Global Index, for example, reported a median mobile download speed of 97.74 Mbps for Nigeria in June 2026.
For Airtel, the network expansion not only extends the geographical footprint; but also increases the speed, capacity and stability available to existing customers.
Director of Marketing, Ismail Adeshina, said the company’s network investments were ultimately aimed at making connectivity more useful in the everyday lives of Nigerians, as increasing numbers of consumers, families and businesses depend on mobile services for communication, commerce and access to essential services.
Airtel’s infrastructure programme is also contributing to the wider development of Nigeria’s digital economy.
“With mobile connectivity increasingly serving as the platform for financial services, commerce, education, healthcare, agriculture and enterprise, expanding the physical network effectively increases the number of Nigerians able to participate in those activities,” Adeshina said.
National Information Technology Development Agency (NITDA) is calling for a unified, cross-sector push to translate the framework of the Nigerian Startup Act (NSA) into practical benefits for local entrepreneurs and investors.
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE, represented by the National Coordinator, Office for Nigerian Digital Innovation (ONDI), Ms Victoria Fabunmi, in a group photograph with participants from various Ministries, Departments and Agencies (MDAs) at the Nigerian Startup Act (NSA) Incentives Activation Co-Creation Workshop in Abuja.
Speaking at the NSA Incentives Activation Co-Creation Session in Abuja, organised by NITDA’s subsidiary, the Office for Nigerian Digital Innovation (ONDI), the NITDA boss stressed that while enacting the legislation was a historic milestone, its ultimate success will be measured by its tangible impact on everyday tech ventures.
Delivering remarks on behalf of NITDA Director-General Kashifu Inuwa, ONDI National Coordinator Victoria Fabunmi emphasised that Nigeria must now transition from policy design to operational delivery.
Inuwa noted that while early structural achievements such as setting up the Startup Consultative Forum and launching the digital startup portal have established vital channels for dialogue, the true test of the law lies in whether founders can easily access the relief and resources promised to them.
He said the establishment of the Startup Consultative Forum and its governance structures had created an important platform for sustained engagement among stakeholders, but stressed that the real test of the legislation would be its impact on businesses operating within the innovation ecosystem.
According to him, government agencies, private-sector actors and other ecosystem stakeholders must work collectively to remove institutional bottlenecks and ensure that startups can access the opportunities created by the Act.
Inuwa said the participating institutions possessed different mandates, resources and policy instruments that, if properly coordinated, could significantly improve the operating environment for Nigerian startups.
“We want to go to the next level. We want to be able to say that the actors in our ecosystem have been able to benefit significantly from the legislation that has been passed, and it wouldn’t happen without everyone sitting in this room,” he said.
He urged stakeholders to shift attention from the mere existence of the legislation to its practical implementation, particularly the activation of incentives designed to promote investment, innovation and enterprise growth.
The DG noted that the implementation of the NSA involved institutions across several sectors, including trade, finance, communications, innovation, digital economy, science and technology.
He said bringing these institutions together was necessary to identify gaps, clarify responsibilities and develop workable mechanisms for delivering the incentives to intended beneficiaries.
Inuwa also urged stakeholders to embrace continuous engagement and feedback, noting that the success of the Act would depend largely on the ability of implementing institutions to work together and respond to the evolving needs of the startup ecosystem.
He said recommendations from the session would contribute to ongoing efforts to strengthen the implementation framework and create an environment where Nigerian startups could scale, attract investment and compete effectively in global markets.
In a context-setting presentation, “Operationalising the Incentive Provisions of the Nigerian Startup Act,” Ms Elma Andah, Acting Lead, Strategy, Research and Analytics at ONDI, said the Act provides more than 31 incentives distributed across six major categories.
She identified the categories as tax and fiscal incentives, regulatory support, funding access, exports and trade, ecosystem enablers, and training and capacity building.
Andah explained that implementing the incentives required the participation of more than 15 government institutions, making inter-agency coordination central to the success of the legislation.
She said the Nigerian Startup Act, signed into law on October 19, 2022, was designed to promote innovation, improve access to funding, strengthen collaboration and position Nigeria as a leading technology and innovation-driven economy in Africa.
According to her, Nigeria’s startup ecosystem has continued to demonstrate significant potential, with more than 3,000 startups and several globally recognised technology companies.
She added that Nigerian startups attracted about $410 million in funding in 2024, despite the challenging economic environment.
Andah highlighted several areas of progress under the Act, including engagements with states on adoption, the operational startup support engagement portal, improved startup labelling timelines, the Startup Consultative governance framework, the Startup Investment Seed Fund framework and ongoing efforts to operationalise the regulatory sandbox framework.
She, however, stressed that the interconnected nature of the incentives meant that no single institution could deliver them independently.
“No single institution can deliver all these incentives alone. Implementation requires coordination across more than 15 MDAs,” she said.
Using practical examples, Andah explained that a startup seeking funding could simultaneously require tax incentives, while an enterprise seeking to export its products might need regulatory approvals. Investors seeking tax credits could also depend on access to the startup labelling system.
She consequently challenged participating institutions to clearly establish ownership of the incentives assigned to them, strengthen coordination, simplify access procedures and introduce effective monitoring and accountability mechanisms.
The session therefore provided stakeholders with an opportunity to identify implementation gaps and develop practical approaches for ensuring that the incentives contained in the Startup Act are accessible to startups, investors, innovation hubs and other beneficiaries.
The outcome, stakeholders noted, is expected to support a more coordinated implementation of the NSA and strengthen its contribution to Nigeria’s innovation, investment and economic development objectives.
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