Connect with us

E-Business

tBs: Experts Say Knowledge-Based Economy Solution to Nigeria’s Challenges

Published

on

(L-r): Yele Okeremi, Chief Executive Officer/Managing Director, Precise Financial Systems (PFS); Ayotunde Coker, Managing Director, Rack Centre; Rudman Muhammad, Chief Executive Officer, Internet eXchange Point of Nigeria (IXPN) and Atul Kshetry, Chief Executive Officer, IDM Services Plc., during maiden ‘Think Breakfast Series’ organized by Nigeria CommunicationsWeek and Cfatech.ng for CEOs in Lagos, recently.
Kindly share this post

Information and Communication Technology (ICT) experts are unanimous in their views that Nigeria has to become a thinking nation to survive the coming, disruptive revolution which is upon the world.

The experts who were gathered at the maiden edition of ‘Think Breakfast Series’ (tBs) organized by Nigeria CommunicationsWeek and CFAtech.ng in Lagos, recently, said that one of the biggest steps President Muhammadu Buhari led Federal Government must take is to identify and address impediments to broadband penetration.

Ayotunde Coker, managing director, Rack Centre, delivered a well-researched presentation on ‘The Challenges & Importance of Building a Knowledge-Led Economy through ICT.’ According to him, Nigeria has over 180million (estimated) population with the middle class around 18 years old and gross domestic product (GDP) worth $481billion, it therefore behoves on the government and the private sector to build critical infrastructure required to stir up the knowledge-led economy.

Mr. Coker who reiterated improvement broadband penetration usually leads to 1,4% increase in GDP, noting that the key driver of knowledge-based economy relies on the transformational power of computing.

“The ‘Impacts of Broadband Penetration on economic Growth’ are obvious. Both the ITU and GSMA have stated continuously that a 10% increase in broadband penetration yields 1.4% increase in GDP. Yes, broadband penetration brings about improvement of productivity in enterprises; acceleration of innovation by new consumer applications and services; more efficient functional deployment of enterprises, access to consumers and social impact from consumer access to products, services and content.

“Knowledge economy eco system requires varying technologies to thrive particularly Fibre then of course LTE, 5G is coming into the mix now. Of course the impact and benefits of cloud services can’t be over emphasized. More so Cloud services will create significant positive impact on SMEs particularly for cost savings, optimization and efficiency.

“Now, looking at the ‘Network Readiness Index and Ease of doing business’ (EDB) ranking: Nigeria ranks behind Mauritius and South Africa at the 16th position in Africa with an NRI and EDB ranking of 119 and 169 respectively.

“But the good thing is that Nigeria’s presidency has begun to look at the EDB issue realistically. We hope it will be sustained,” the Rack Centre boss said.

On his part, Mr. Yele Okeremi, Managing Director of Precise Financial Systems (PFS) said that the ten pillars the World Economic Forum (WEF) uses to gauge nations shows that Nigeria is lagging in most of the areas like skill, knowledge and competence pillar.

Mr. Okeremi said that technology as a tool and technology professionals can assist in the enhancing the ease of doing business particularly by ensuring that e-government platforms are deployed.

He said, “Leadership is key to this transformation and leverage the new mindset of the youth by focusing more on skills rather than paper qualifications. Leadership engagement- continuous awareness, education and enlightenment of our leaders across board to understand the importance of technology and the knowledge economy is primary in achieving the knowledge-led economy, because it is what the legislator knows that he will present at the floor of the Chamber, which often times becomes laws of the land.

Also speaking, Mr. Muhammed Rudman, the chief executive officer, Internet eXchange Point of Nigeria (IXPN), nodded in agreement on the need for legal framework to protect Intellectual Property (IP).

The laws when promulgated as shield for protect intellectual properties; the judges and lawyers need to be informed on the principles in order to ensure proper interpretations and enforcements.

Rudman added that funding framework for start-ups has not encouraged innovation which necessities for various channels to step up interests of angle investors in Nigeria.

“So, basically, it’s all about pervasive enabling infrastructure, learning frameworks, e-government enablement and executive drive amongst others. Opportunities include a diversified export oriented economy enhanced GDP growth of about 18%, economic and country efficiency, educational and health implications and systematic GDP impact on all value chains. We have a lot to gain from the knowledge-based economy”, he said.

Craving for local content and indigenous data hosting, Reverend Sunday Folayan, President, Nigerian Internet Registration Association (NIRA), said that unlike in other climes, Nigerian call centers staff range from 24-30.

“Does it mean that Nigerians become productive from age 22. 18-22 are not skill ready. Usually call Centre staff age is 18-22, by 24 they move to Knowledge processing. It is one thing we must look into as an industry to place our young people on the right footing.

He also encouraged individuals and organizations to join in the .ng domain name crusade. “This should be default for Nigerian businesses there is increasing interest in Nigerians patronizing .ng domain companies as 80% is mainly people process. 

“Change happens with a few people not with the crowd. Nigeria can change. Government pushes agriculture as the solution to our current recession. Extractive industry is important but that is not the way to go. How much do we generate from these. The leaders and laggers’ countries, what is the difference? Knowledge is the differentiator! Three categories of people: producing something the world needs, if you are wealthy, people with specialized knowledge.

Mr. James Emadoye, President, Institute of Software Practitioners of Nigeria (ISPON), however, linked the journey to knowledge-based economy to quality educational sector.

To him, there is need for technology companies like Rack Centre to collaborate with educational institutions particularly universities to enable them enjoy the benefits of cloud services because it’s expensive for universities to building their own data centers, rather they should focus on knowledge delivery.

Again, he said, the existing university network and content platforms are ineffective, as it has become very expensive for universities to be building data Centre, hence they should focus on knowledge sharing.

He also called for industry support to young software developers though the use of cloud based productivity tools and services.

“Content development – whose responsibility- it’s everyone’s, but it must be structured to get real value. The key issue in knowledge economy is Knowledge and learning; therefore developing the people and managing processes within the technology chain is important. People, process and technology make knowledge-based economy happen”, the ISPON president said.

These thought leaders also proffered ‘trust capital’ as solution to many business ideas in the country, as trust enables progress and builds confidence in a business.

 

 


Kindly share this post

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.

Continue Reading
Advertisement
Comments

E-Business

FG Approves Electric Buses for Civil Servants, Pushes Local Auto Growth

Published

on

Kindly share this post

Federal Government of Nigeria has approved the acquisition of electric buses for civil servants as part of efforts to promote cleaner transportation and boost local vehicle manufacturing.

FG Approves Electric Buses for Civil Servants, Pushes Local Auto Growth

The development was disclosed in Abuja by Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC). Osanipin said the buses would be sourced from local assemblers to strengthen domestic production and stimulate growth in Nigeria’s automotive sector.

He stated: “The initiative is aimed at encouraging the transition to cleaner mobility while creating opportunities for local manufacturers.” According to him, the government has also procured charging infrastructure that will be deployed across parts of the country to support the adoption of electric vehicles.

As part of broader efforts to develop the sector, the council is establishing the Nnewi Automotive Development Park in Anambra State. Osanipin explained: “We are developing the Nnewi Automotive Development Park where we will provide the necessary infrastructure so that users of the park can share facilities.”

He added that the shared infrastructure model would enable investors and manufacturers to operate without bearing the full cost of setting up independent facilities. The council is also seeking additional investment to accelerate the development of the park and attract more industry participants.

Osanipin urged Nigerians to support locally assembled vehicles, noting that increased patronage would help create jobs and drive economic growth. He said the council is providing training to manufacturers and stakeholders to enhance local production of vehicle components such as batteries and tyres.

“The move will reduce import dependence, create employment opportunities, and contribute to the country’s Gross Domestic Product,” he said. The NADDC is also working with the Bank of Industry Nigeria to facilitate the disbursement of the National Automotive Development Fund to qualified stakeholders.


Kindly share this post
Continue Reading

E-Business

Jumia Reaffirms Commitment to Consumer Trust on World Consumer Rights Day

Published

on

Kindly share this post

As the global community commemorates World Consumer Rights Day, Jumia Nigeria joined industry leaders, regulators, and consumer advocates at the Lagos Marriott Hotel, Ikeja, for a high-level panel session hosted by the Lagos State Consumer Protection Agency (LASCOPA) on Tuesday, March 17, 2026.

Speaking during the session, Peters Afebuame, Group Head of Content and Production at Jumia, highlighted Jumia’s comprehensive approach to protecting consumers from counterfeit or adulterated products on its marketplace, noting that the company has implemented structured checks and technology-driven systems across the entire product lifecycle, from seller onboarding to post-listing monitoring, to safeguard product authenticity.

“Ensuring product authenticity on our platform requires a combination of technology, policy enforcement, and continuous seller engagement,” he stated.

“At Jumia Nigeria, we have implemented a multi-layered process that begins with rigorous seller onboarding and policy agreements, followed by catalogue configuration controls, AI-driven product attribute verification, and the use of global product identification standards. These systems are reinforced by ongoing quality moderation, brand protection mechanisms, and strict enforcement actions, including product and seller delisting, ensuring that customers can shop on our platform with confidence.”

Central to Jumia’s consumer protection framework is a rigorous seller verification process designed to ensure marketplace integrity. Vendors are required to provide proof of legal and regulatory compliance before gaining access to the platform. This vetting process is reinforced by a strict quality control system that monitors products listed on the platform, backed by a zero-tolerance policy toward counterfeit or substandard goods. Non-compliant sellers face penalties and permanent delisting from the marketplace.

Transparency also remains a core priority in helping customers make informed purchasing decisions. Product listings across the platform feature clear specifications, verified descriptions, and detailed images, enabling shoppers to understand exactly what they are purchasing before completing a transaction.

Recognising that digital literacy plays a critical role in online safety, Jumia continues to invest in consumer education initiatives through instructional “how-to” videos, platform guides, and social media campaigns that equip Nigerian shoppers with practical knowledge to navigate online shopping securely and confidently.

To further strengthen transaction security, Jumia leverages its proprietary payment solution, JumiaPay, which provides a secure and encrypted payment infrastructure designed to protect customer financial data. The company also adheres to internationally recognised data protection standards such as the General Data Protection Regulation (GDPR) and local regulatory frameworks established by the Nigeria Data Protection Commission (NDPC), ensuring responsible handling and protection of user information.

Beyond the point of purchase, Jumia reinforces consumer protection through a customer-centric return and refund policy designed to ensure seamless resolution when issues arise. A dedicated customer service team also provides support through multiple channels, including phone and social media, enabling swift response to consumer inquiries and complaints.

As e-commerce continues to expand across Nigeria, Jumia reaffirmed its commitment to building a marketplace that prioritises fairness, transparency, and consumer safety. Through continuous investment in technology, strong policy enforcement, and ongoing consumer engagement, the company aims to strengthen trust and confidence in Nigeria’s growing digital commerce ecosystem.


Kindly share this post
Continue Reading

E-Business

FG Determined to Protect Rights, Privacy Online- NITDA

Published

on

Kindly share this post

Federal government is determined to protect Nigerians’ rights and privacy in the digital space, according to Dr Ayodele Bakare, assistant director, Cybersecurity Department, National Information Technology Development Agency (NITDA),

FG Determined to Protect Rights, Privacy Online- NITDA

To achieve that, Bakare, said that the government has developed several policy and regulatory frameworks to strengthen cybersecurity.

Bakare, stated all these during an interview with the News Agency of Nigeria (NAN) in Abuja on Monday.

He said that cybersecurity governance in Nigeria was implemented through a collaborative approach involving multiple government institutions with different responsibilities.

According to him, the Office of the National Security Adviser (ONSA) provides overall coordination of national cybersecurity efforts through the National Cybersecurity Coordination Centre, which serves as its operational arm.

“At the national level, cybersecurity implementation is done collectively, and different government organisations are responsible for implementing different aspects of the national cybersecurity framework.

“At the top, however, the Office of the National Security Adviser coordinates these efforts through the National Cybersecurity Coordination Centre,” he said.

Bakare said that one of the key policy instruments guiding the country’s cybersecurity efforts was the National Cybersecurity Policy and Strategy Framework.

He also highlighted the legal framework provided by the Cybercrimes Prohibition and Prevention Act 2015, which was recently amended in 2024 to strengthen Nigeria’s response to cyber threats and digital crimes.

According to him, NITDA has also introduced sector-specific regulations to enhance cybersecurity in the country.

“One such regulation is the National Public Key Infrastructure Regulation, which is one of the core infrastructures required to ensure trust and security in digital communications and transactions,” he said.

Bakare said that NITDA played a pioneering role in Nigeria’s data protection landscape through the Nigeria Data Protection Regulation 2019, which laid the foundation for the current data protection framework.

He said the regulation had since evolved into a full legal framework implemented by the Nigeria Data Protection Commission.

Bakare disclosed that the agency was also finalising an Information Security Regulation that would soon be made available to the public.

He further explained that the regulation would provide organisations and individuals with clear guidelines on their responsibilities in safeguarding information and digital assets.

“Nigeria has continued to strengthen its legal and policy environment for cybersecurity, a development reflected in the country’s performance in the Global Cybersecurity Index.

“One of the pillars of the index focuses on legal measures and assesses the availability of national cybersecurity laws and regulations.

“Nigeria recorded a strong performance under the legal measures pillar, reflecting the country’s efforts to establish the necessary frameworks to support cybersecurity governance,” he told NAN.

He said that sustained collaboration among government agencies and stakeholders remained essential to effectively implement the existing policies and strengthen Nigeria’s digital security architecture.


Kindly share this post
Continue Reading

Trending