Telecom
Otunuga Urges Nigeria to Move Away from Oil as Major Export Commodity

Lukman Otunuga, research analyst at FXTM, has urged the federal government of Nigeria to move away from oil as a major export commodity for the country and look at other sustainable sources.
Otunuga stated this in a chat with Nigeria CommunicationsWeek in Lagos.
He stated that Nigeria needs to move away from oil as major export commodity and look at other sustainable sources like tourism and agriculture.
He noted that if the country could follow the example of what other nations have done and fix its weak infrastructure, she could gain GDP through tourism.
According to him, any nation that has weak infrastructure naturally will have a weak GDP and this is what is with Nigeria.
In his words, “Nigeria could gain GDP via tourism, tourism is a very good GDP earner, if Nigeria is able to fix its infrastructures, if Nigeria could fix these bumpy roads and ensure that electricity is stable this would attract tourists and this could be another form of growth for Nigeria.”
He added that the growth of the country’s GDP remains in the diversification of its economy.
Otunuga also implored government to explore this period the oil prices are trading where they are now and push further to Agriculture.
He said, “What Nigeria needs to do is to explore this period that the oil prices are trading where they are trading now and push further to agriculture.
“You know that unemployment in Nigeria is at18% and youth unemployment is even higher and Nigeria is been blessed with fertile lands and a very young working force when you put these two things together, the answer to Nigeria expanding its GDP goes to Agriculture also.”
He decried the multiple exchange rates we have in the country, adding that multiplicity of exchange rate will discourage foreign investment.
According to him, “we should look for ways to actually abolish the multiple exchanges because it’s a bit confusing and this confusion continues to repel foreign investments.
“So we have the official rate, we have the black market rate and we have the different rates other central banks are using, we should look for a way to have one exchange rate if we are to actually attract foreign investment.”
Telecom
Why Nigeria Must Embrace .ng Now – NiRA Reveals Five Critical Steps

Nigeria Internet Registration Association (NiRA) has outlined five strategic pathways to accelerate the adoption of the .ng domain and position it as a critical driver of Nigeria’s digital economy.

NiRA
Oluwaseyi Onasanya, Chief Operating Officer of NiRA, presented the framework at a Media Advocacy and Capacity Building Workshop held on April 16.
Onasanya described the .ng domain as a key component of Nigeria’s digital sovereignty, noting that the country has about 65 per cent internet penetration and over 35.6 million Micro, Small and Medium Enterprises (MSMEs) contributing nearly 48 per cent to the Gross Domestic Product (GDP).
She said the first pathway involves mandating the use of .ng domains across all Ministries, Departments and Agencies (MDAs), as well as subnational entities, government vendors and tax remitters.
According to her, this would ensure that all official digital communications with government institutions are conducted through .ng platforms, while also linking domain usage to Corporate Affairs Commission (CAC) registration and procurement processes.
The second strategy focuses on a nationwide awareness campaign tagged “Own Your .ng, Own Your Future,” aimed at promoting the domain as a symbol of national identity, trust and economic value.
Onasanya said the third pathway calls for leadership from the private sector, urging banks, telecommunications companies, startups and SMEs to adopt .ng domains and integrate them into onboarding processes.
She added that the fourth strategy seeks to position .ng as a secure and regulated alternative to foreign domains, enhancing consumer confidence, improving local search visibility and strengthening jurisdictional control.
The fifth pathway centres on expanding the digital ecosystem by strengthening registrar networks, simplifying user experience and integrating .ng domains into internet service providers, digital platforms and national performance metrics.
Onasanya warned that Nigeria’s domain adoption rate remains low compared to global peers, noting that the country has approximately one domain per 855 citizens, far behind countries like Germany, the United Kingdom and China.
She cautioned that low adoption could lead to capital flight, as businesses continue to rely on foreign domain platforms in an increasingly digital global economy.
She also called on the media to drive awareness, shape public perception and promote adoption by highlighting the economic value of .ng domains across sectors.
“Without media, .ng stays technical. With media, it becomes economic,” he said.
NiRA said that over 240,000 .ng domains have been registered so far, with projections indicating continued growth as Nigeria targets a $1 trillion economy by 2030.
Telecom
Tech Shake-Up: Snap Cuts Hundreds as AI Drives Efficiency Push

Snap Inc., the parent company of Snapchat, has announced the layoff of about 1,000 employees as part of efforts to improve efficiency through artificial intelligence.

Evan Spiegel, chief executive officer, disclosed this in a memo on Wednesday, noting that the cuts represent about 16 per cent of the company’s full-time workforce and include the elimination of more than 300 unfilled roles.
Spiegel said advancements in artificial intelligence were enabling teams to reduce repetitive tasks, increase productivity and accelerate project execution.
“We believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity and better support our community, partners and advertisers,” he said.
He added that smaller teams using AI tools had already delivered meaningful progress across key initiatives.
The California-based firm said the restructuring would help cut over $500 million in annual costs by the second half of the year, providing a clearer path to profitability.
Spiegel described the decision as difficult, expressing regret over the impact on affected employees.
“This is an incredibly difficult decision, and I am deeply sorry to the colleagues who will be leaving us,” he said.
Snap joins a growing number of technology companies downsizing their workforce while citing productivity gains from artificial intelligence.
The company has undergone multiple rounds of layoffs in recent years amid stiff competition from rivals such as Instagram, TikTok and YouTube.
Meanwhile, activist investor Irenic Capital Management recently disclosed a 2.5 per cent stake in Snap, calling for cost-cutting measures, including a review of its Spectacles smart glasses unit.
Shares of Snap rose by more than 7.5 per cent following the announcement, although the stock remains down compared to earlier in the year.
Data from Layoffs.fyi shows that more than 72,000 employees have been laid off by nearly 90 tech companies globally so far in 2026.
Telecom
NBC Warns Broadcasters Against Bullying Guests, Passing Opinions as Facts

National Broadcasting Commission (NBC) has cautioned broadcast presenters against bullying guests during live interviews or presenting personal opinions as facts, warning that such actions will attract sanctions.

NBC
In a statement issued on Friday, the commission said it had observed a rise in violations of the sixth edition of the Nigeria Broadcasting Code across news, current affairs and political programmes.
“Broadcast platforms are increasingly being deployed in ways that depart from their core obligation to inform the public with accuracy, balance and professionalism,” the NBC said.
The commission noted that some anchors and presenters were deviating from professional standards by denying fair hearing to opposing views and compromising neutrality during broadcasts.
It stressed that such conduct violates provisions of the broadcasting code, which require impartiality and fair representation of all sides on issues of public interest.
“Henceforth, any anchor or presenter found to have expressed personal opinion as fact, bullied or intimidated a guest, denied fair hearing to opposing views, or otherwise compromised neutrality, shall be deemed to have committed a Class B breach,” the statement added.
The NBC also raised concerns over the growing use of broadcast platforms by political actors to promote divisive, inflammatory and unverified content.
It emphasised that broadcasters bear full editorial responsibility for all material aired, including live programmes, and cannot transfer that responsibility to guests.
The commission reiterated its commitment to enforcing strict compliance with the broadcasting code, warning that violations involving hate speech, incitement and imbalance would attract appropriate sanctions.
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