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NITEC & Tech Start-up Financing for National Development

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An inspired Facebook post by Chukwuemeka Fred Agbata jr. (CFA) recently got me thinking. He said, “We will keep playing our role for a better Nigeria…. Entertainment, Music, Fashion and Sports does not build a Nation. There is an over emphasis on them and corporate Nigeria is most guilty”.

As a tech-activist CFA is, I dare to say he felt like being in a wilderness owing to the insignificant support technologies companies, mostly, startups get from multinationals. The conspiracy might have been induced by fears of the unknown: if we support or invest on them, they might grow big and send us packing. But, whether we like it or not, technology is winning.

Essentially, we must not hide under the undeniable fact that the success of an entrepreneur`s search for capital depends partly on the nature and mix of the operational and capital needs of the firm relative to the investment preferences of venture capitalist or fund providers, then, we can’t continue to dole out millions of dollars, sponsoring ‘anyhow’ ‘emotional inducing’ events while our supposed blue-chip companies in making are sulking!

Suffice to say, we are quick to recognise the critical roles entrepreneurs play in the development of economy, but few are committed to the task to understanding what constrains them from taking effective entrepreneurship and investment decisions.

Virtually every government/ dispensation in Nigeria takes the forefront efforts to modernise and improve the ailing economy through a “focus on macroeconomic stabilisation, and the pursuance of a massive trade and investment liberalisation programme to encourage foreign direct investment in the country”.  (Un)interestingly, the country usually pursue this agenda by relaxing most restrictions on current and capital transfers, introduced tax relief for those multi-nationals willing to invest in the country, and improved access to foreign exchange at near market rates, while the start-ups are left with like children in the street with bowls to beg for arms. Yes, billions of naira, at one time or the others, were ‘stacked’ in CBN for SMEs in Nigeria (generally to referred to firms with less than 250 employees) to access and grow their fortunes, but with strictest conditions.

Even, a recent study by the Federal Office of Statistics shows that 97% of businesses in Nigeria employ less than 100 employees.

By implication, 97% of all businesses in Nigeria are, to use the umbrella term, “small businesses”, which no government can afford to ignore such a high contributor to the economy.

 Thus, the Entertainment, Music, Fashion and Sports ‘gems’ CFA was referring, seemingly, fall under the SMEs. Nevertheless, the penchant for technology SMEs cannot be over emphasized. They are the builders of disruptive technologies that spark creativity in other industries. The longevity of an innovation relies on the superiority of technology behind it.

Both the International Data Corporation (IDC), Gartner, Microsoft and other research consultancies, are projecting that worldwide spending on public cloud services (alone) will grow at a 19.4% compound annual growth rate (CAGR) from nearly $70B in 2015 to more than $141B in 2019. Today, the global video gaming revenue is worth $101.62. While the world are still at awe over the driverless cars, ‘gas-free’ cars are on the verge. What is Nigeria and Africa in general doing to be part of the Internet of Things (IoTs)? Shall we continue to applaud and savoury the juicy, infiltrations of Silicon Valley applications, that capitals flights abound…technology startups must say, God forbid! A stitch in time can only save nine when you recognize that global village appreciates only continents and countries alike with fondness for productivity. Less stress less of download and start uploading.  

What is needed? A platform for both parties: startups and investors to bare, share ideas and arrive at workable indices. Permit me to say, we have several fora meshed with inspiring discussions.  However, it’s high time we embraced a paradigm shift from tiger-paper & conference communiques to hands-on template, which Nigeria International Technology Exhibition & Conference (www.nitec.com.ng) entails. NITEC wants to teach people the flexible, easy-going and ‘economic-friendly’ ways to finance technology startup. You may wish to call it, Start-Up Financing With Tears.

It is actually going to be a win-win for intending technology investors and start-ups, especially with the later sharing in the blames aforementioned. How? Our start-ups need to sharpen their marketing and presentation skills. There are many talents, chasing few ‘dollars’, in the pocket of the investor.

Therefore, NITEC 2016 and forward, will serve as a catalyst to achieve this goal. This is why the slogan for what will become an annual conference and exhibition is “Trending Technologies”, a slogan that will ensure each year’s edition captures all the trending issues in technology around the world.

To this end, NITEC 2016 is positioned to bridge the gap between the private and public sectors and the international technology community in re-engineering the African technological ecosystem for greater impact on the continent’s GDP.

Top reasons to exhibit at NITEC 2016 include exposure of products & services to thousands of attendees; exhibition booth (2 days); placement of brand logo on event brochure and website; complimentary wifi, place web banners and share branded gifts at booths. See you there!

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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NCDC Issues Public Advisory on Cerebrospinal Meningitis

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Nigeria Centre for Disease Control and Prevention (NCDC) has issued a Public Health advisory on the spread of Cerebrospinal Meningitis (CSM).

NCDC Issues Public Advisory on Cerebrospinal Meningitis

It said that the caution is particularly for states within the African Meningitis belt.

In a statement by the Corporate Communications Division of NCDC urged all Nigerians to remain vigilant and adopt preventive measures.

The statement said: “As Nigeria continues through the peak dry season months, the Nigeria Centre for Disease Control and Prevention (NCDC) alerts the public to the ongoing risk of Cerebrospinal Meningitis (CSM), particularly in states within the African meningitis belt.

“Cerebrospinal meningitis occurs more frequently between December and April, when dry, dusty conditions, overcrowding, and poor ventilation increase the risk of transmission.

“The NCDC urges all Nigerians to remain vigilant and adopt preventive measures. Surveillance and response activities remain ongoing nationwide, and laboratory testing is being conducted at the state level while national laboratory capacity is being strengthened.

It explained that Cerebrospinal meningitis is a serious infection of the protective membranes covering the brain and spinal cord.

According to NCDC the affliction is most commonly caused by bacteria, particularly Neisseria meningitidis.

“Bacterial meningitis can progress rapidly and may be fatal within hours if untreated.

“However, early diagnosis and prompt antibiotic treatment significantly improve survival and reduce complications. CSM spreads through respiratory droplets during close contact, especially in overcrowded or poorly ventilated environments.”

It said that symptoms to watch out for include sudden high fever, severe headache, and neck stiffness.

It said other symptoms may include: nausea or vomiting, sensitivity to light, confusion or altered consciousness and seizures.

For In infants and young children, NCDC said the symptoms could bulging soft spot on the head.

The Centre said that early recognition and treatment can save lives.


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Report finds the Number of Trojan Banker Attacks on Smartphones Increased by 56% in 2025

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According to a Kaspersky report “Mobile malware evolution,” the number of Trojan banker attacks on Android smartphones increased by 56% in 2025 compared to the previous year*.

This type of malware is designed to steal user credentials for online banking, e-payment services and credit card systems. Cybercriminals commonly distribute Trojan bankers through messaging apps, as well as through malicious webpages.

The number of new Trojan banker installation packages for Android (unique APK files) also increased sharply, reaching 255,090 packages – a 271% increase over 2024. This may indicate that these tools generate substantial profit for cybercriminals.

Kaspersky experts believe threat actors will continue both to expand delivery channels and develop new Trojan variants trying to evade detection by security solutions. Among all detected Trojan bankers, the leading families were Mamont and Creduz.

“Although Trojan bankers for smartphones are the fastest-growing type of malware, we also observed another important trend: preinstalled backdoors such as Triada and Keenadu appeared more frequently compared to previous years. People purchase completely new, but infected, Android devices and may be unaware of the threat.

Once integrated into the firmware fully functional preinstalled backdoors provide attackers with unlimited control over the victims’ smartphones and tablets. As a result, all information on infected devices can be compromised.

It’s quite difficult to remove such malware. If the device is infected, we recommend users check for firmware updates. After the update, run a scan of the device with a security solution again to make sure newly installed firmware is not infected,” comments Anton Kivva, malware analyst team lead at Kaspersky.

 


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FG Can Now Track, Prosecute Visa Overstayers – Interior Minister

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Federal Government has said it now has the capacity to identify and apprehend foreigners who overstay their visas in the country.

FG Can Now Track, Prosecute Visa Overstayers – Interior Minister

Minister of Interior, Olubunmi Tunji-Ojo

The Minister of Interior, Olubunmi Tunji-Ojo, disclosed this on Thursday in Abuja during the 2026 Sectoral Performance Review Retreat of the Federal Ministry of Interior.

Tunji-Ojo said the government now possesses comprehensive data that enables authorities to track individuals who have entered the country over the past decade and determine those who have failed to comply with their visa conditions.

According to him, the development followed the establishment of an Integrated Operations Centre and a Network Operations Centre by the Nigeria Immigration Service.

The minister, however, said the FG will go after foreigners who have overstayed their visas, adding that outside of the country, Nigerians are not being spared.

He said, “In NIS, I know we are doing a lot already. As of today, we have been able to build our Integrated Operations Centre and the Network Operations Centre, which we never had before.

“With that, we can access, in the last 10 years, everybody who has entered, where you came from, everything, we have all your records, we have everything, we know the exact people who have overstayed in our country, and we will go after them, with due respect, because, outside of Nigeria, they go after the irregular immigrants and we think we have to protect the sanctity of our borders,” the minister stated.”

The minister also stressed the need for reforms across agencies under the ministry, including the Nigeria Security and Civil Defence Corps, to ensure services are delivered transparently and without corruption.

Tunji-Ojo said the goal of government institutions should be to protect citizens, particularly the most vulnerable in society.

NSCDC provides protection in an organised and corruption-free manner, where the son of a nobody will have the same opportunity as the son of anybody in government.

“If you are a businessman or there is a genuine threat to your life, you should be able to access protection without going through the minister, the Commandant General, or anyone else. It is only then that we can truly say we have a service that works for Nigerians.

“Nigeria should not be about selective service delivery. The essence of government is to protect everyone, with greater emphasis on protecting the weakest in society, ” he said.

Speaking on correctional reforms, he argued that a system where individuals repeatedly return to custody reflects a failure of rehabilitation.

“Anybody who goes in there must be reformed and transformed,” he said, adding that the objective was to reduce cases of repeat offences to the barest minimum.

In her remarks, the Permanent Secretary of the ministry, Magdalene Ajani, emphasised the importance of accountability in leadership.

She said leadership was about “devotion, promises, performance, and impact,” noting that the ministry’s agencies play critical roles that affect the daily lives of Nigerians and therefore require transparency and effective service delivery.

The move to go after foreigners who overstay their visas comes amid renewed efforts by the Federal Government to strengthen border management and enforce immigration regulations across the country.

This definitely would allow immigration authorities to track the movement of travellers and identify individuals who remain in Nigeria beyond the duration permitted by their visas.


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