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Creating An Investment Friendly Telecom Market

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L-r: Victor Ukwat, DGM Sales, (Mrs.) Amaka Okeke, Adebayo Temitope Red Star scholar and Sola Obabori, COO Red Star Logistics during the fund presentation ceremony held in honour of recipients of the scholarship award in Lagos recently.
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Technology Strategies International in partnership with BroadGroup TMT Ventures recently, published a report on telecom development in Nigeria.

 It pointed to ample room for expansion of the market based on the dismal penetration level of fixed line and opportunity to improve internet penetration.

Christie Christelis, President of Technology Strategies International said: “There is huge momentum behind the growth, and even through the recent global financial crisis investors have managed to source funds for good investment opportunities in Nigeria”.

 Key opportunity areas identified in the report include expanding the reach of the undersea cables, building out mobile infrastructure, turning investments into fixed wireless infrastructure into sustainable businesses, expanding the retail network for mobile, fixed wireless and internet services, and in electronics manufacturing.

Christelis said that the Nigerian Government is particularly keen to promote an indigenous electronics manufacturing and is doing much to attract investor interest.

Christelis warns, however, that the Nigerian ICT sector is complex and investors must give due consideration to the characteristics of the Nigerian market when evaluating business plans.

The sensitivity of the economy to oil price fluctuations can result in a volatile foreign exchange.

Regionalism has a big impact on the extent to which services can be rolled out. And corruption weighs heavily on investors’ minds, he added.

 The fact that the market is liberalized, and hence very competitive in certain segments, provides some safeguards to investors.

As the economy of the nation continues to look up as well as the position of Nigeria as a major commercial centre in the West Africa region, the demand for reliable and modern telecommunications infrastructural facilities is heavy.

Nigeria she said must therefore be viewed as a major market for telecommunications equipment and services in technology areas such as: digital transmission system (including microwave, satellite and optic fibre), submarine communications, digital exchanges (wired and wireless), billing systems and data communications networks including primary rate ISDN and Broadband ISDN services.

The Government should be interested in attracting local and international operators to come and participate, in the urgently needed expansion of the country’s telecommunications infrastructure by providing the enabling environment for the intending investors in the sector.

What need to be done
There are challenges in the telecom sector that are inimical to investment which need to be addressed if the country will attract the desired massive investment to the ICT sector of the country’s economy.

Some of these challenges according to Gbenga Adebayo, chairman of the Association of Licensed Telecommunications Operators of Nigeria (Alton), could hinder the sustenance of the growth, if they are not nipped in the bud.

He listed some of the challenges as multiple regulation, government interference in telecom matters, multiple taxations, insufficient broadband rollout in the industry, security of infrastructure, quality of service, inadequate power supply, and state of access roads, among others.

Adebayo called for the scrapping of all forms of levies and fees charges by various agencies of government on right of way approvals, insisting that they are all inimical to a true regulatory framework in any society.

He also explained that capacity building is critical for the sustenance of telecom development and that more effort is needed from government to ensure that the technical manpower requirements for the information and communications technology (ICT) industry were met.

This, he said, was traceable to challenge in the socio-economic environment and the guaranteed minimum quality of lives and that the industry was loosing a number of highly trained personnel to other countries with less potential, but with better social security and standard of living and economic values, better healthcare, better education guarantees for their children, better security of lives and properties and quality of living.

He reiterated the fact that telecommunications in Nigeria remained the most functional and reliable public social infrastructure, while calling on stakeholders to continue to do the needful to sustain the growth and stability of the telecom sector of the economy through the provision of enabling environment for investors both local and foreign.

In order to optimize and accelerate development in telecoms sector in the country, attention must continue to be paid to these key issues that affect investment.

The sector today requires massive inflow of private investment for infrastructure upgrade and expansion. Half-hearted liberalization measures have denied many African countries access to investment that could have been available to the sector both from within and outside such countries. Governments must therefore resist pressures to protect incumbent operators to the detriment of truly competitive markets.

The need for government to provide the right environment that will attract serious investors and for market forces to thrive cannot be overemphasized.

All policies must of necessity be aimed at attracting new sources of capital, accelerating network expansion, improving pricing, enhancing quality of service, introducing of new technologies and providing access to ICT resources to all citizens at affordable prices.

The expansion of telecommunications facilities must go side by side with the development of human resource capacity that will support the industry. We must develop knowledge, skills and competencies to understand, plan and deploy the complex networks of wireless systems, fibre optics, satellite systems, and a host of other information and communications technologies.

Industry watches that spoke to Nigeria CommunicationsWeek believed that attracting massive investment in the telecom industry goes beyond providing a good regulatory framework which NCC has done, and that environmental as well as operational challenges are very key to achieving it.

They cited instances of bureaucratic bottleneck in securing approval for deployment of telecom infrastructure which state and local governments give.

They also decried unending demand by government agencies for one levy or the other, for example, MTN disclosed that an environmental agency demanded that it pays N1million every year on its mast.

Recently, some manufacturing companies in the country have started relocating their production factories to neighbouring countries that have improved social infrastructure especially power which accounts for over 60 per cent of cost of production in the country.

Telecommunications sector is not different, imagine where an operators do not have to provide generators and its rising maintenance cost on its so 5,000 base station what such operator would be saving.

Such an operator will be saving the cost of 20,000 generators at a cost of N2million each as well as cost of fueling such generators where it runs on it for 17 hours in a day.

Operators will not face the problem of theft of these generators that is now target to armed robbers.

All these challenges make nonsense of most business projections and speculation of foreign investors into the country, which has resulted in scaring them away from investing in the country. The earlier these issues are addressed the better for the country to position the sector for the incoming massive investment in the sector.


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NiDCOM Launches Diaspora Startup Challenge to Boost Nigerian Talent

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The Nigerians in Diaspora Commission (NiDCOM) has sought to harness the innovation and expertise of Nigerians across the globe with the launch of the Connected Diaspora x DOWA Start-Up Challenge and the Connected Diaspora Flagship Event 2025.

Speaking at a news conference in Lagos, Abike Dabiri-Erewa, Chairman/CEO of NiDCOM, described the initiatives as timely and transformative, noting that they are strategically designed to tap into the creativity, enterprise and professional strength of Nigerians in the diaspora.

She said the Start-Up Challenge, themed “Building, Breaking and Believing in Nigeria,” aims to energise innovators abroad by promoting knowledge transfer, enterprise development and strategic investment to support Nigeria’s rapidly expanding economy.

According to a statement by NiDCOM, the challenge, which offers cash prizes of up to ₦1 million, is targeted at spotlighting exceptional ideas and supporting impactful ventures created by Nigerians living overseas.

According to Dabiri-Erewa, the initiative aligns with the Federal Government’s overarching goal of engaging the diaspora community as key partners in national progress.

She further announced that the Connected Diaspora Flagship Event will take place on December 19, 2025, in Lagos, and will bring together entrepreneurs, policymakers, investors, technology leaders and strategic partners for critical discussions on Nigeria’s future.

Kadiri Hamzat, Deputy Governor of Lagos State, will serve as the Special Guest of Honour and is expected to speak on the importance of collaboration between government and the diaspora in accelerating development.

NiDCOM also revealed that notable contributors from the global diaspora community and Nigeria’s entrepreneurship ecosystem will enrich the sessions and help shape new pathways for meaningful engagement.

Dabiri-Erewa said their support remains invaluable in driving the success of the initiative. She emphasized that their continued collaboration helps unlock the potential of Nigeria’s global talent pool and fosters sustainable economic growth.

The Commission called on stakeholders across both the public and private sectors to support the initiative, stressing that the opportunities for innovation, collaboration and nation-building are immense.

NiDCOM urged young Nigerians and diaspora returnees to participate actively in the Start-Up Challenge, reminding them that entries close on December 12, 2025.

The December event will also feature a Diaspora Talent Career and Internship Fair, aimed at connecting diaspora returnees with internship opportunities offered by DOWA partner organisations.

NiDCOM said the fair will further strengthen talent exchange and deepen the country’s development capacity.

The programme timeline includes the opening of applications for the Start-Up Challenge from November 18 to December 12, followed by public voting on Instagram from December 13 to 17.

The winner will be announced on December 18, ahead of the final presentation at the JK Randle Centre in Lagos on December 19.

NiDCOM encouraged interested participants to follow the provided registration details and take advantage of the platform created to connect, innovate and contribute to national advancement.


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PromoPrint Rekindles Nigerian Resilience @ 25th Anniversary

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L-r; Dr. Chukwuka Monye, Founder, Ciuci Consulting; Mrs. Bola Adesola, Chairman, Ecobank Nigeria; Mrs. Patricia Ojora, CEO PromoPrint Ventures Ltd and Mr Jonny Baxter, British Deputy High Commisioner at the 25th anniversary of PromoPrint Ventures held in Lagos recently.
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Indigenous printing company, PromoPrint Ventures Ltd, celebrated 25 years of operations in the country on Tuesday 2nd December, at an event held at the Lagos Motor Boat Club in Lagos.

The evening saw business executives, clients and stakeholders in the printing space gathered to attest to the dexterity and Nigerian resilience demonstrated by Mrs. Patricia Ojora, the Founder and Chief Executive of the company in sustaining the growth of PromoPrint over the last 25 years.

Amongst many things on display that evening were PromoPrints very first t-shirt printed in the year 2000. Guests also cheerfully adorned custom-made patterns done by Promoprint on our indigenous cotton fabric (Funtau).

In her opening remarks, Mrs. Patricia Ojora recalled the past 25 years of operation in Nigeria at the helm of PromoPrint. While not easy, she says:

“We’ve been able to do it and we enjoy it. There’s nothing better than creation. To create something from nothing and do it so well, it’s a passion for me. It’s something that I really, value.  I’m a great supporter of Nigeria, so I believe that we should be able to do things well in Nigeria. We don’t need to always import, that’s why we’re doing this today, to be able to collaborate with people. Most of the people here are people we’ve collaborated with and have worked hard to build Nigeria back up”.

She recounts how she was able to change the narrative of many Nigerians that were printing outside of the country who are now printing with PromoPrint Ventures. “People used to print outside the country because they didn’t trust the quality that was here in Nigeria,” Patricia explains with an understanding that “we can produce good quality here within Nigeria.”

The company is a one-stop shop for all things printing with all operations happening in-house, from the expertise of crafting graphics and garment production to the t-shirts, roller banners, corporate gifts and more being rolled out on a daily basis. “What we are selling is peace of mind in a chaotic place.” Patricia says, with nearly three decades of successful operations and collaboration under her belt.

Significantly, she makes sure the company remains primed for the future, using AI and the like to remain progressive in strategy and implementation. Patricia proudly states, “Our automated printing carousel can churn out 10,000 tees a day if needed and our many corporate clients can attest to this.”

In attendance was Atedo Peterside (CON), Founder, Stanbic IBTC Bank Plc, one of many guests in the room who spoke to PromoPrints impact. “There’s something about longevity,” he shares with the crowd, “If you’ve kept the business going for 10 years, I always tell people, it means you’re doing something right. If you get it going for 20 years, you’re doing something very correct. Patricia must be doing something phenomenally right and it’s my sincere hope that she keeps it going, keep building, keep innovating.”

“Patricia can create almost everything,” Peterside remarks, “she has the courage, audacity and the commitment.”

Mrs. Ibukun Awosika, Nigerian businesswoman and the first female Chairperson of First Bank of Nigeria, contextualises the tenacity of Patricia’s efforts rather well. She reminds the room that “when you think of how many big multinationals who have so much that protects them, who have a lot of support systems internationally and locally, who gave up on Nigerian manufacturing, then you have to go back and think about those of us like Patricia.”

Even after 25 years, Nigeria remains in need of more Entrepreneurs, particularly those like Patricia, to boost the SME and manufacturing industry in the country despite the odds. “She didn’t give up,” Awosika says in admiration.

“What is key is that, when we celebrate the likes of Patricia and her company, we know without a doubt that it’s not just because they want to have a celebration. It’s because, in truth, the Nigerian entrepreneur is a star, and even more so, the Nigerian manufacturer.” Awosika concludes.

So, we celebrate Mrs. Ojora and her PPV entire team, and all that has gone into 25 years of hard work, commitment, creativity, we also recognise the passion that does not allow you to give up on the vision, the commitment to not only creating jobs for other Nigerians but creating value within Nigeria. The commitment to innovating a solution for every challenge and every situation. Indeed, it was a worthy celebration.


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Optimus AI LABS CEO Showcases AI Breakthroughs in Nigeria’s Financial Sector

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Mr. Lanre Basamta, Chief Executive Officer and Co-Founder of Optimus AI LABS, has unveiled a suite of artificial intelligence innovations poised to transform Nigeria’s financial services industry, aligning with recent Central Bank of Nigeria (CBN) directives on consumer protection and fraud prevention.

Optimus AI LABS CEO Showcases AI Breakthroughs in Nigeria’s Financial Sector

Mr. Lanre Basamta, Chief Executive Officer and Co-Founder of Optimus AI LABS

Basamta, speaking at a media parley in Lagos, said the company’s flagship product, Omnis, is redefining customer engagement in banking by serving as a virtual assistant embedded within mobile applications.

According to him, the platform is capable of analyzing customer behavior to recommend tailored financial products, effectively functioning as a “digital salesperson” that boosts bank revenues while enhancing customer experience.

He noted that Optimus AI LABS, which began as a modest startup targeting small businesses such as schools, has now identified greater opportunities in serving banks, fintechs, and microfinance institutions.

“The financial sector presents the biggest opportunity for AI to deliver value at scale,” Basamta said.

In response to rising fraud concerns and new CBN regulations mandating resolution of fraud cases within 14 days, Basamta highlighted the company’s AI-powered support platform designed to address customer frustrations over delayed assistance.

The system, he explained, interacts naturally with users, resolves issues promptly, and escalates unresolved cases, thereby strengthening compliance and improving customer satisfaction.

Basamta also recounted the firm’s global expansion, citing its work with Canadian clients, including the development of a dental learning environment for a major dental group.

He said this international footprint demonstrates Nigeria’s capacity to compete globally through homegrown innovation.

Reflecting on the company’s relocation into office space formerly occupied by KUDA, a fast-rising Nigerian fintech, Basamta expressed optimism that Optimus AI LABS is on a similar trajectory toward scaling into a major industry player.

He emphasized that the company’s growth would contribute not only to technological advancement but also to national development.

Basamta concluded by appreciating partners and stakeholders, stressing that “big things can emerge from small beginnings when powered by AI’s transformative capabilities.”


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