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Economic Diversification, Ethical Leadership Panacea to Nigeria’s Economic Crisis – Danbatta
Prof. Umar Garba Danbatta, executive vice chairman/ceo, Nigerian Communications Commission (NCC), has underscored the centrality of economic diversification and ethical leadership at all levels of government as panacea to the current economic headwinds in Nigeria.
Danbatta stated this when he delivered a paper titled: “Ethical Leadership as an Instrument for National Sustainability in the Post-Oil Nigerian Economy. A Public Sector Perspective” at a two-day hybrid (online and onsite) Annual Directors Conference (ADC) organised by the Institute of Directors (IoD), Nigeria earlier this week, where he also emphasised that the fourth industrial revolution (4IR) or digital age promises greater revenue-earning potential to the nation.
Danbatta, who went on a memory lane to discuss Nigeria’s economic shift to oil revenue following discovery of oil in the 1970s, leading to the relegation of agriculture, which was hitherto the source of Nigeria’s foreign exchanges earnings, said the Federal Government has realised that Nigeria cannot be solely dependent on oil earnings anymore, hence the decision of the FG to explore ways of diversifying the economy.
Economic diversification, according to Danbatta, is the process of shifting an economy away from a single income source toward multiple sources from a growing range of sectors and markets.
He said this is with a view to increasing productivity, creating jobs and providing the basis for sustained economic growth.
The EVC said though, the Federal Government has made several attempts at economic diversification such attempts have had little impact as majority of them have folded up, whilst others are finding it difficult to survive, just as he noted that the situation has further been compounded by the recent economic recession and the COVID-19 pandemic, which adversely affected the global economy, including Nigeria.
Danbatta stated that countries and societies have evolved by finding new ways of doing things to ensure economic sustainability, which has led to the first, second and third industrial revolutions.
“Currently, countries are exploiting the 4IR in order to diversify their economies. The fourth industrial revolution, which has also been referred to as 4IR or Industry 4.0, describes the age of intelligence and encompasses technologies like high-speed mobile Internet, Artificial Intelligence (AI), automation, the use of big data analytics and cloud computing,” he said.
While highlighting the major constraints facing Nigeria with regard to the fourth industrial revolution to include inadequacy of digital skills, infrastructure deficit and enabling environment, Danbatta, emphasised that the 4IR is the information and digital economy age, which, if properly enhanced and exploited, can unleash a new phase of massive revenue generation and wealth creation for Nigeria in the post-oil era.
“This is because while natural resources such as oil, gas, and so on, are finite, data and information are infinite. Furthermore, the possibilities provided by the 4IR are limitless and can generate employment for Nigeria’s teeming youth population Therefore, in order to achieve economic growth using the 4IR there is the need for ethical leadership,” he said.
Zeroing on the centrality of ethical leadership in the public sector, Danbatta said in order to achieve national sustainability in the post-oil Nigerian economy, the highest standard of ethical leadership is required of all leaders especially in the public sector.
“Ethical leadership is essential for sustainable development of a Country. Nurturing an ethical leadership culture is essential and this will determine the transformation and overall development of the Country.
“Nigeria stands at the threshold of history and would definitely need ethical leaders to ensure sustainability in the post-oil era as government takes positive steps to diversify the economy,” he added.
The IoD Nigeria Annual Directors’ Conference is the Institute’s flagship event, which is attended by captains of industry and directors in both private and public sectors of the Nigerian economy.
It is a forum where contemporary issues affecting leadership and corporate governance of Nigeria’s businesses are x-rayed and global best practice solutions provided by professionals and practitioners in corporate administrations.
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.
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.
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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