Telecom
Buhari Backs NITDA On Fostering Digital Economy Via Local Content, Regulations
By peter oluka
I am delighted to be here today to witness the commencement of the 2017 e-Nigeria Conference. The theme of the event – “Fostering a Digital Economy Through Local Content Development and Effective Regulation” is apt, coming at a time when we are intensifying our efforts at economic diversification, and ICT has a critical role to play.
President Muhammadu Buharis has applauded NITDA’s resolve to pursue local content development in IT, while identifying ICT as strategic in driving productivity and efficiency in all sectors of the economy.
The President, who graced the eNigeria conference 2017, in Abuja, said that currently, almost all sectors of the economy leverage on ICT to increase efficiency, productivity and performance.
The sector has recorded huge investments and contributes over 10% of the nation’s Gross Domestic Product (GDP) and we are making conscious efforts to see that this contribution continues to grow in the next few years.
President Buhari, however, was not happy that about 80% of ICT hardware purchases are imported through local distributors of Original Equipment Manufacturers (OEMs) by MDAs and other government establishments.
“This makes it difficult for us to benefit from the dividends of continuous procurement and consumption of ICT infrastructure and limited value retention within the country.
“As the most populous country in Africa, there are huge opportunities for ICT manufacturing in Nigeria. This, when harnessed, will provide job opportunities for our teaming youths, enhance the quality of locally produced infrastructure, reduce cost of acquisition and increase government revenue.
“There is, therefore, the need for deliberate efforts, both from government as well as the private sector to see to the realisation of this. I urge you to come up with viable recommendations on how we can make the country an export hub for ICT hardware in Africa.
“We have done a lot to transform our government especially in the areas of strategy, policies and digital infrastructure investments.
“You may recall that on assumption of office, we enforced the policy on Treasury Single Account (TSA). Today, we are all witnesses to the impact it has made on our financial management.
“We have so far consolidated over 20,000 accounts, resulting into about N4.7 billion monthly savings. In addition the policy facilitated transparency, accountability and ease of transactions and payments between Government and businesses as well as Government and citizens.
“Another initiative leveraging on ICT and making huge impact on the economy is the introduction of the Integrated Payroll and Personnel Information System (IPPIS) and Bank Verification Number (BVN). Its implementation has helped to eliminate the menace of ghost workers thereby reducing waste in the system by saving government over N20 billion monthly.
“This administration recently issued an Executive Order mandating all ministries, departments and agencies to give preference to locally manufactured goods and services in their procurement of information technology services.
“Such measures are part of the deliberate efforts at encouraging local manufacture of ICT infrastructure, creating job opportunities, providing investment opportunities as well as strengthening our currency. We commend NITDA’s efforts on fostering the patronage of indigenous IT products and services through continuous engagement with indigenous OEMs, relevant stakeholders and other laudable initiatives.
“ICT plays a pivotal role with agencies of government such as the Corporate Affairs Commission (CAC), Federal Inland Revenue Service (FIRS) and the Nigeria Immigration Service (NIS) which have leaned on ICT in improving public service delivery in an efficient and transparent manner. So far, 31 reforms have been completed by the Council and these reforms are already making noticeable impact on our economic diversification efforts.
“The Agency’s efforts at enforcing Federal Government’s directive on ensuring that all ICT projects in the country are cleared by it before implementation are highly commendable. These efforts will ensure that government’s ICT procurements are transparent, they are aligned with government’s IT shared vision and policy, save costs through promotion of shared services, avoid duplication, ensure compatibility of IT systems thereby improving efficiency across government and enforce the patronage of indigenous companies.
“In this respect, I hope this conference will come up with practical, viable solutions and recommendations to further develop local content in ICT as well as how we can best regulate the deployment and use of ICT systems to foster a digital economy in Nigeria”, he said
Clean and reliable power for telecom networks in Ethiopia, Liberia, and Sierra Leone will be expanded following a $45 million investment by the International Finance Corporation (IFC) in IPT PowerTech.
The investment targets countries where limited power supply continues to slow digital connectivity and broader economic participation, the institution stated earlier this week.
To enable this expansion, the IFC is providing a $45 million corporate financing package consisting of an A-loan of $27 million and $18 million in blended finance.
The blended portion is sourced from the Canada-IFC Blended Climate Finance Programme and the IDA20 Private Sector Window Blended Finance Facility.
The initiative marks the IFC’s first direct infrastructure engagement in Liberia in a decade and in Sierra Leone in six years.
It will help scale solar- and battery-based power systems that reduce reliance on diesel and support greener, more resilient telecom networks.
By improving the quality and stability of power to telecom towers, the initiative will strengthen mobile coverage and ensure that households, schools, health centres, and small businesses can depend on consistent digital services, said the IFC.
The funding supports the modernisation, operation, and maintenance of 2 235 telecom sites across the three nations. More than 90% of these are located in off-grid or weak-grid locations.
With new solar and battery systems powering these sites, mobile networks will experience fewer outages and improved service quality.
Optimising the energy mix is estimated to reduce power costs for operators by up to 30% in Liberia, 26% in Sierra Leone, and 52% in Ethiopia.
This transition is also expected to cut emissions by more than 10 624 tonnes of carbon dioxide annually. Furthermore, the partnership will promote gender inclusion by expanding opportunities for women in technical, operational, and leadership roles within the sector, says the IFC.
This agreement reflects a shared vision for a greener telecom industry and empowers the company to scale its innovative energy platforms, according to Nabil Haddad, CEO of IPT PowerTech Group.
Reliable and affordable power for telecom networks is a cornerstone of Africa’s digital transformation, said Nathalie Kouassi-Akon, IFC regional director for West Africa and the Gulf of Guinea.
Through this partnership, the institution is supporting a scalable, private sector-led solution that enables mobile operators to reach underserved and fragile communities more sustainably, added Kouassi-Akon.
The project advances the World Bank Group and African Development Bank’s Mission 300 initiative, which aims to provide electricity to 300 million Africans by 2030.
Expedier has unveiled “Expedier for Business,” an online pro-banking platform to simplify global payments, multi-currency transactions, and financial operations for expanding companies.
Kingsley Madu
The tool centralizes payments, invoicing, payroll, and treasury into one secure dashboard, tackling challenges like fragmented systems and poor visibility that hinder international scaling.
Kingsley Madu, Co-Founder and CEO of Expedier, said: “African businesses are increasingly global… Expedier for Business was built to simplify how companies manage money across borders while maintaining visibility, control, and compliance.”
Key features include customizable dashboards for payments, invoices, and workflows; support for USD, CAD, GBP, EUR, and more; virtual cards; automated payroll/invoicing; currency swaps; and real-time tracking.
Security measures cover two-factor authentication, KYC/KYB verification, and team access controls.
As cross-border trade and remote work boom in Africa, the platform aids firms dealing with international suppliers, teams, and customers. It is now available for organizations scaling globally.
Nigerian fintech unicorn Moniepoint Inc. has finalised its acquisition of a 78% stake in Kenya’s Sumac Microfinance Bank, gaining a key deposit-taking licence for credit expansion in East Africa’s biggest economy.
The deal, marked by a Nairobi reception, bypasses the Central Bank of Kenya’s licence freeze, letting Moniepoint rival giants like Safaricom and Equity Group after a stalled Kopo Kopo bid.
It signals Africa’s fintech shift to licensed banking and mergers, equipping Moniepoint to roll out high-speed SME lending via Sumac’s 20-year-old infrastructure and branches.
The acquisition builds a cross-border merchant ecosystem beyond fees, integrating recent Orda buyout (cloud restaurant software) for “business-in-a-box” tools like inventory, payroll, and capital amid Kenya’s digital lending scrutiny.
Moniepoint, which hit $294 billion annualised transactions in 2025, eyes Kenya’s SMEs with Nigeria-honed retail expertise.
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