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Creating Conditions for Sustainable and Inclusive Growth in Nigeria’s Digital Economy – An Urgent Call for Action

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By Engr. Gbenga Adebayo

The renewed Hope Agenda clearly recognizes the power of technology and innovation to enable inclusive economic growth and development. It is an important acknowledgement that if we can create the conditions within which innovation can thrive, we can maintain, or even accelerate the already rapid growth in the digital economy.

Since the liberalisation of the telecoms sector in the early 2000s, the ICT sector’s contribution to GDP in Nigeria has grown progressively. Today, it delivers 17.89% of annual GDP. That is more than double the contribution of oil and gas. From the initial development of connectivity infrastructure and services, the sector has catalysed the emergence of innovative technology businesses across a range of sectors. From financial technology, to data, logistics, transportation, healthcare and education.

It also provides the infrastructure that enables the delivery of critical national development projects, from national identity enrollment and management, to elections and financial inclusion programmes that provide access to vital services for marginalised and vulnerable communities.

While this growth is impressive and the impact on socio-economic development so far has been clear, the journey is far from over. The recognition within the renewed hope agenda is that the sector has the potential to drive a new wave of inclusive economic development that can be the foundation of Nigeria’s economy for decades.

To deliver this, the government has clearly and publicly acknowledged the importance of creating an enabling environment for investment and taken a number of bold steps to address investment bottlenecks. From the tough decisions to unify the exchange rates, to the tightening of monetary policy and a focus on reviewing the tax regime to make it smoother and more efficient. They have also created target investment funds to support key sectors of the economy, from healthcare and agriculture to the small businesses that drive the economy.

The specific role of the digital economy is captured in the Federal Ministry of Communications, Innovation and Digital Economy’s 4 year 2023-27 growth plan, which envisages a further 15% increase in  the contribution of the ICT sector to GDP growth, as well as 15% YoY increases in investment in the sector, both of which are projected to support a 100% increase in the annual net revenue that the sector delivers to government.

These are laudable and ambitious objectives, but they are impossible to achieve without deliberate sustained strategic and tactical action. If these actions are not taken, then the foundations that have been built are vulnerable and not only will these objectives be missed, but the industry will stagnate.

If you look carefully at the investment trajectory in the telecoms industry you can see two clear and concerning trends, which are being further exacerbated by the recent short term economic shocks. Between 2021 and 2022 industry CAPEX declined by 30.37% while industry Foreign Direct Investment declined by 46.9%. This happened at a time when operational expenses have surged and it has been exacerbated more recently by rising interest rates increasing the cost of debt. What that means is that industry expenditure has been diverted from capital (expansion and growth) to operations and that the investment environment has deteriorated. The ultimate manifestation of this has been the recent losses declared by major operators for FY 2023 and HY 2024.

This is further exacerbated by the multiple taxation ecosystem that continues to exist across Nigeria, with operators exposed to 54 different federal/state/local government taxies or levies, many of which are technically illegal. There is a perception that the telecoms industry is highly profitable and so can be treated as a ‘cash cow’ – we are now seeing the impact of this, and even though it is clear operators are suffering, more new taxes continue to be considered by the national assembly.

This is a critical moment. It is an inflection point. If we act, we can establish the platform for growth and the delivery of the government’s ambitious objectives. If we delay, or fail to take the decisions necessary, then the industry is likely to go in the wrong direction. This will not only damage the interests of investors, many of whom are Nigerian, but also impact the emergence of the innovative services and products that ride on telecoms infrastructure.

We believe that decisive action can turn this moment from a crisis into an opportunity. Following extensive research, the Association of Licensed Telecom Operators of Nigeria (ALTON), has developed a clear set of recommendations that can catalyse the next wave of growth in the industry, and for Nigeria. These are:

  1. Take immediate action on retail pricing: In the short term, this means an industry wide increase to retail tariffs, which were last reviewed in 2016, when the exchange rate was N373/$ and inflation at 18.4%. No industry can survive indefinitely in a rapid inflation environment and not be allowed to increase retail prices. Regulators have denied all recent requests, despite approvals being granted in other critical industries from power to fuel and transportation.
  2. Make industry pricing sustainable: Every price increase requires individual pre-approval from the regulator, which continues to use 2016 pricing guidance. This is an outdated regulatory model that is not representative of global best practice.  ALTON recommends the implementation of a general authorization regime for tariff administration under which the NCC sets general pricing principles and requirements and operators independently align their tariffs with the set pricing requirements through self-certification, eliminating the need for prior approval.
  3. Provide concessionary funding to enable CAPEX investment: To continue to drive investment and growth in infrastructure, the industry needs access to concessionary finance. Establishing a dedicated financing facility will help mitigate the impact of recent interest rate increases and enable more investment.
  4. Build and expand regulatory capacity: With technology driving rapid change, we need to rapidly upskill the sector’s regulators to ensure the implementation of well structured regulation that provides the right balance between protection and investment incentive. Regulations need to be co-developed more constructively with industry on a regular basis.

If we can deliver each of these things, then we will have established the basis for long-term sustainable growth in the telecoms sector, and through it catalyse dynamic growth in Nigeria’s broader digital economy. This is achievable, and the time is now.

Engr. Adebayo is the Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON)


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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How to Turbo-charge Your Productivity as a Backend Engineer!

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By Seye Folajimi

I start each day with one goal: to be as efficient and focused as possible. A developer’s life is full of interruptions, and without good time management, it’s easy to fall behind. As a Backend Engineer at Moniepoint, I’ve assembled the toolkit that helps me and I believe by extension any technical professional to deliver results consistently.

In this feature article, I’ll share the tools and habits that have practically multiplied my productivity and sharpened my focus on the job.

My Daily Toolbox

I rely on a handful of core tools every day. IntelliJ IDEA and Visual Studio Code are my primary editors: IntelliJ for heavy backend work (it’s packed with features) and VS Code for quick edits or scripting. When testing APIs or debugging endpoints, Postman is indispensable for sending requests and saving environments. For spotting code or configuration differences, I often paste text into Diffchecker.com and let it highlight the changes. And for database work, MySQL Workbench provides a visual SQL editor and schema designer that saves me a ton of time. Dear professional, using the right tool for each task means fewer context switches and a smoother workflow.

Productivity Strategies That Power My Workflow
Beyond raw tools, I use structured habits to stay on track. I break the day into focused blocks and assign each chunk to an activity (coding, reviews, meetings, etc.). This time-blocking approach improves focus by letting me give my full attention to one task at a time. I also apply the Eisenhower Matrix to categorize tasks by urgency and importance; this ensures I tackle critical work first. Rather than flitting between emails, calls, and code, I batch similar tasks into dedicated slots. Some of my core techniques include:

  • Time Blocking: I assign specific blocks of time for coding, meetings, code reviews, and so on. This means I can dive deep into one task without switching contexts. (For example, I often use 25-minute sprints followed by a 5-minute break – the classic Pomodoro cycle – to keep my mind sharp.)

  • Prioritization (Eisenhower Matrix): Each morning I list my tasks and sort them by urgency vs importance. The Matrix helps me “do first” what truly matters and “delegate or drop” low-value items. This clarity prevents me from getting bogged down by busywork.

  • Automation: Whenever I catch myself doing something repetitive, I stop and ask, “Can I script this?” Whether it’s a shell script for routine commands or a CI/CD pipeline for deployment, automation frees up hours. Reducing manual repetition lets me focus on more critical work. Even simple automations (backups, report generation, test harnesses) add up to big time savings.

  • Notification Discipline: I turn off unnecessary notifications and check email/Slack only at scheduled times. By minimizing interruptions, I stay “in the zone” longer and preserve my cognitive energy.

Building My Custom Focus Extension: The Hot Gate

I even took matters into my own hands by coding a productivity tool from scratch, i called it “THE HOT GATE” .

 The “Hot Gate” refers to the ancient Battle of Thermopylae in 480 BCE, a famous event in Greek history. It’s where King Leonidas of Sparta and a small force of Greeks (famously 300 Spartans) held off the vast Persian army of Xerxes I for several days.

The extension:

  • Blocks distracting websites during deep work sessions.

  • Organizes tabs to reduce clutter.

  • Unlocks distractions only during breaks.

I built it using JavaScript and browser APIs. One limitation: I can still turn it off manually. I’m considering adding a restriction to prevent that—but it’s still a local extension. Maybe someday I’ll publish it.

Breaks and Rewards
I’ve learned that smart breaks actually boost productivity. I take 2–4 minute strolls every hour, prompted by reminders from our infrastructure team. It’s refreshing and clears my head.

After big wins (like deploying a major feature or solving a tough bug), I reward myself—whether it’s a nice meal, a movie night, or just a chat with friends. These rewards keep me motivated and prevent burnout.

Wrapping Up

In my experience, combining the right tools with disciplined habits is what unlocks consistent high performance.

I’m constantly refining my setup—automating repetitive tasks, organizing my schedule better, and building systems that help me stay in the zone.

At Moniepoint and beyond, delivering quickly and reliably takes more than just code. It takes systems thinking, self-awareness, and the discipline to evolve your workflow over time.

By adopting these practices, I’ve become both more productive and more fulfilled. And I’m hoping the story is same or at least similar for you after reading this.

Seye Folajimi is a backend engineer with Africa’s fastest growing financial institution, Moniepoint Inc.  


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African Craftsmanship Takes Center Stage at TALES 2025 in London

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This summer, London’s West End will transform into a vibrant showcase of African excellence as TALES (The African Lifestyle Experience) returns with its most ambitious edition yet: Reimagine 2025.

A Luxury Cultural Experience

Hosted at Luxury Promise, 28 Cavendish Square, just off Oxford Street, the event will run from July 25 to August 3, 2025, offering ten days of curated experiences, fashion-forward storytelling, and cultural immersion.

With over 70 curated brands spanning fashion, beauty, art, music, and home décor, TALES 2025 will spotlight Africa’s brightest creative talents and celebrate craftsmanship across the diaspora.

Key Highlights

  • Exclusive African Fashion & Craftsmanship Discover one-of-a-kind pieces, from bold fashion in traditional textiles like Aso Oke, Adinkra, and Bantu, to luxury handmade beauty products and bespoke interiors.
  • Fireside Chats with Industry Icons Intimate conversations with trailblazers and tastemakers exploring the future of African entrepreneurship, culture, and design.
  • Kidpreneur x The Veteran A standout feature returns, bridging generations of innovation by spotlighting rising Gen Z entrepreneurs alongside industry legends like Gloria Ije Anyaehie-Coker, founder of GIA1 Fashion.
  • Exclusive Travel Offer with Air Peace TALES is partnering with Air Peace to offer a 15% flight base fare discount for brands and attendees flying to London, strengthening connections within the diaspora.

A Global Movement Powered by Bellafricana

Backed by Bellafricana, a platform empowering African creative entrepreneurs across 18+ countries, TALES champions authentic African stories, craftsmanship, and visibility on the world stage.

Supported by the City of Westminster

The City of Westminster proudly supports TALES 2025, reinforcing London’s commitment to diversity, innovation, and inclusive cultural celebration. The event will be featured across Oxford Street’s Instagram and website, ensuring maximum visibility.

Why It Matters

Following the runaway success of TALES 2024, which featured 40 brands and attracted a global audience, Reimagine 2025 raises the bar. As London’s fashion and cultural scene increasingly embraces diversity and authenticity, TALES 2025 is a timely and necessary celebration of African brilliance.

Whether you’re a fashion enthusiast, culture lover, or global tastemaker, TALES 2025 is where Africa’s future-forward creativity meets London’s cultural heartbeat.

Event Details

Venue: Luxury Promise, The Corner Showroom, 28 Cavendish Square, London W1G 0DB 📅 Dates: July 25 – August 3, 2025 🎟 Admission: FREE — Registration required at

 


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Bolt Rewards Loyalty and Expands Branding at Lagos Family Fest

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Bolt, Africa’s leading ride-hailing platform, hosted its Bolt Family Fest in Lagos to honour driver loyalty, reward top performers, and strengthen community ties within its driver network.

As Bolt’s largest market in Nigeria, Lagos served as the ideal location for this vibrant celebration of excellence and shared growth.

The event recognised and rewarded some of Bolt’s longest-serving and still-active drivers, who have been with the platform for 7 to 8 years since the early days when Bolt was known as Taxify.

These veteran drivers were specially recognized and rewarded, each receiving a cash award of ₦200,000 in appreciation of their commitment to the platform and consistent service delivery.

In addition to honouring loyalty, the Bolt Family Fest provided a platform to scale up vehicle branding efforts in the city.

The on-site branding process was made easy and accessible for drivers, while attractive incentives including branded merchandise, gift bags, and raffle entries encouraged participation.

A key highlight of the day was a lucky dip giveaway, where two lucky drivers, one newly branded and one previously branded each walked away with a brand-new SmartTV.

Osi Oguah, General Manager, Bolt Nigeria said: “Our drivers are the heart of everything we do at Bolt, and this event is our way of saying thank you for their dedication and professionalism. We’re not just building a platform, we’re building a family.

“The Bolt Family Fest is about creating moments of connection and showing our drivers they are seen, appreciated, and celebrated.”

The event delivered multiple wins for Bolt including increased the number of branded vehicles in Lagos, enhanced Bolt’s street-level visibility across the city and strengthened the sense of unity and pride within the driver community.


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