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We’re Leveraging NigComSAT-1R to Linkup Hinterlands Says Alale @NDSF2021
Dr. Abimbola Alale, managing director and chief executive officer, Nigerian Communications Satellite (NigComSAT), has said they are leveraging NigComSAT-1R to provide complimentary solutions for an effective digital economy.
Speaking at the 2021 Nigeria DigitalSENSE Forum series on Internet Governance for Development (NDSF) held in Lagos recently at Golden Tulip Essential Hotel, she said they are leveraging the NigComSAT-1R I by linking stakeholders, especially ones in the hinterland.
Alale who was represented by the acting General Manager, Marketing at NigComSAT, Mrs Ibiye Ukoko, dwelt on “The Role of NigComSAT on Digital Cooperation for Enhanced Digital Economy” said that the advantages of using the satellite in this case, include quick and fast deployment, cheaper infrastructure in less commercially viable areas as well as broadcast services.
She cited an instance with a crisis period, saying that since the unrest situation in Nigeria, NigComSAT has had to embark of journeys of critical areas to work and ensure connectivity is provided, back up services to serve and resultant speed, ubiquitous, equitable and affordable access to ICT infrastructure.
In addition, she said, NigComSAT is leveraging this satellite to promote access to basic and advanced telecom infrastructure and services; develop an enabling environment for ICT applications in other fields cutting across commerce, health, and education to name a few.
Equally, she said they have increased collaborative efforts within the private sector, civil society and government.
NigComSAT, she informed, is a satellite operator having launched the NigComSAT -1R satellite to offer connectivity solutions across its coverage areas. Stressing, this strong digital infrastructure has the capacity to provide effective connectivity across Nigeria and their regions.
“The internet has affected every aspect of our lives and this space is heavily dominated by the private sector, this is why the private sector needs to be heavily engaged as a stakeholder,” she said.
According to the NigComSAT boss, a digital economy speaks to a range of functioning and implementation. Noting that digitization of the Nigerian economy has so far created benefits and efficiencies as digital technologies drive innovation, job opportunities and economic growth.
“The Nigerian digital economy affects all aspects of society influencing the way people interact and bring about broad changes,” she said.
Alale also pointed out that Nigeria’s digital transformation is already having a great impact in the economy as it applies to the Gross Domestic Product (GDP) growth rate in comparison to other sectors.
“The ICT sector contributed 14.07% to the total real GDP in Q1 2020 higher than its contribution in 2019 at 13.32%. In Q2 2020, the sector contributed 17.83% increasing the amount contributed to about N1.78trillion and N1.28 trillion in Q1 while the oil sector contributed 8.93% in the same quarter,” she said.
Furthermore she said that Nigeria e-commerce transactions, for instance, accounts for about $13billion USD, according to London-based Economic Intelligence Unit (EIU). Whereas exports in the Nigerian financial service sector also estimated that Nigeria’s e-commerce market value could rise to $50billion over the next 10 years.
In addition, she said that financial technologies have also given rise to new ways of delivering financial services in Nigeria, while the use of technologies advance the efficiency of the payments systems and strengthen Nigeria’s e- commerce sector.
This, she emphasized further digitized networks and intelligent information and communications technologies enable modern economic activities to be more flexible, agile and smart.
“Further digital economy is allowing regional businesses to move away from the local and into the global, in keeping abreast with the long term trends towards market liberalization and reduced trade barriers.
Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.
Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.
The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.
Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.
Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.
According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth
Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.
Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.
The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.
News
IHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community
Communications infrastructure company, IHS Nigeria, has donated business support equipment to empower people with disabilities within the Karonmajiji community in the Federal Capital Territory, Abuja. This is part of the company’s commitment to drive inclusive community development and sustainable livelihood support under its Project Empower initiative.
The equipment was distributed to beneficiaries during a ceremony held in the community on Monday, July 27. The initiative was conceived following a community needs assessment and is designed to empower active traders by providing them with business tools rather than cash grants, thereby strengthening their businesses and ensuring long-term economic impact and accountability.
Speaking at the event, Director, Sustainability, IHS Nigeria, Titilope Oguntuga, described the initiative as a reflection of the company’s commitment to advancing inclusive development by equipping persons with disabilities with the tools and opportunities needed to build resilient livelihoods.
She explained that rather than providing short-term financial assistance, IHS Nigeria adopted an asset-based approach by donating 50 pieces of business support equipment, including sewing machines, freezers, generators and hairdressing kits, to the selected beneficiaries.
According to her, the intervention is designed to create lasting value by supporting entrepreneurship, promoting self-reliance and strengthening household incomes, while contributing to the achievement of the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities).
In his opening remarks, the Chief of the Karonmajiji Disabled Community, Alhaji Sulaiman Muhammed Katsina, represented by the Secretary of the Community, Alhaji Mohammed Dantani commended IHS Nigeria for its commitment to empowering persons with disabilities through practical and sustainable interventions.
He described the initiative as a demonstration of genuine partnership with the community and expressed appreciation for the company’s continued engagement with the Association, noting that the donation of the equipment was a significant investment in improving the livelihoods of persons with disabilities and would create meaningful economic opportunities for the beneficiaries and their families.
The event brought together traditional rulers, government representatives, leaders and members of the Karonmajiji Disabled Community Association, implementing partners, including Field of Skills and Dreams Vocational Technical and Entrepreneurship (FSD VTE) Training Institute and other community stakeholders, reaffirming a shared commitment to promoting inclusion and sustainable community development.
Project Empower reinforces IHS Nigeria’s commitment to advancing sustainable development through strategic partnerships that promote economic inclusion, strengthen community resilience and create opportunities for underserved communities.
The Chartered Institute of Bankers (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have enjoined banks to further deepen and prioritize financial inclusion, women’s empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners.
Both organisations made this call during a courtesy visit to the newly invested 24th President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, Ph.D, FCIB, as part of plans to congratulate him on his investiture as well as seek a stronger alliance between both bodies.
The visit followed Alabi’s investiture where he unveiled his “IMPACT” Vision, themed “Consolidating Our Local Impact, Enhancing Our Global Relevance.”
The vision rests on six pillars: Inclusion across geographic, gender, and generational lines; Membership growth and quality; Professionalism and ethics; Accountability; Competencies and skills development; Technology, automation, and innovation. Other areas of shared interest, include women empowerment, financial inclusion and literacy, as well as MSME clinics, all of which are top on his agenda.
Alabi explained that under him, the institute will be prioritising financial inclusion and women empowerment, because of its realisation that women are often the primary financial managers and caregivers in families. Access to savings, micro-credit, and insurance acts as a safety net during crisis and allows them to significantly improve living conditions.
He added that CIBN would be happy to drive joint knowledge sharing and exchange sessions with CBN and ACAMB across various platforms. “Educating the public through public awareness programmes, with ACAMB as the rallying point, is central to what we do,” he noted.
ACAMB President, Jide Sipe, who led the delegation, spoke in unison with the CIBN president, as he noted that, closing the inbalances in financial access help economies grow faster, reduces inequality, and encourages greater civic participation by all.
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