Telecom
Danbatta, Others Extol Benefits of Data in Development of Digital Economy
Professor Umar Garba Danbatta, Executive Vice Chairman and Chief Executive Office (EVC/CEO) of the Nigerian Communications Commission (NCC) has said that real value can only be driven from data when it is gathered completely and accurately, connected to other relevant data, and done in a timely manner.
This is a cross section of the award for the corporate organisations
He stated this while delivering a keynote address at the 2021 edition of the Nigeria ICT Impact CEO Forum held on Friday, at Oriental Hotel, Lagos.
The event themed: “Data the New Oil of the Digital Economy” had ICT policymakers and policy enablers in attendance.
The EVC noted that data when properly refined could quickly become a decision-making tool – information – that allows companies to react to market forces and be proactive and intentional in their decision-making.
He further expressed delight in the significant contributions of telecommunications sector in the development of the Nigerian economy.
According to him, “It is gratifying that in the last few years, the telecommunications sector has consistently driven the digital economy agenda of the government, as it provided the necessary impetus for the support of the Nigerian economy in the digital space.
“It is pertinent to add that the information and communication sector recorded a growth of 6.31% in Q1 2021, which was largely driven by the growth in the telecommunications sub-sector (+7.69%).
“This growth trend has rekindled the hope that economic diversification can be realised in Nigeria.
“Also one of the most dynamic developments related to the digital economy has been the rise of social network platforms which have set the stage for unprecedented social 2 interactions, dialogue, exchange and collaboration.
“These platforms have opened up multiple avenues for entrepreneurship, business connectivity and engineered several activities that support ease of doing business in Nigeria”.
Danbatta further stated that the Commission is currently working on a regulatory instrument to manage data collection and utilisation in the Nigerian communications sector.
The process, according to him, is going through the Commission’s collaborative rule making approach and will provide all stakeholders with ample opportunities to participate.
Engr Ikechukwu Nnamani, CEO – Medallion Communications Limited and President of Association of Telecommunications Companies of Nigeria (ATCON), speaking on the Topic titled: “Building Blocks to a Data Based Digital Economy” said that digital economy is the network of economic activities, commercial transactions and professional interactions that are enabled by information and communications technologies.
He noted that the benefits of digital economy span across, Job creation, Rise in E-commerce, Expansion in business opportunities, Transparency, Improvement in public services, Digital delivery of goods and services and others.
He equally said that Nigeria is still far from generating the volume of data that will make data the new oil for Nigeria, noting that there is still need for more local content data generation in Nigeria for its Data to move from people and business based to machine based if we are to generate adequate data to make data Nigeria’s new oil.
According to him, “Nigeria is missing in key cloud services platform location.
“Hyperscale datacenters must be located within Nigeria to make the key cloud service platform to be located within the country.
“Edge datacenters are needed for effective storage and distribution of content across the country to ensure efficient service delivery.”
Earlier, Tayo Adewusi, editor-in-Chief of ICT Watch magazine, the organizers of the event, said that Data in the 21st Century is like Oil in the 18th Century: an immensely, untapped valuable asset.
He noted that Data is the key to smooth and efficient running of everyday life, including in both public and private sectors.
“Like oil, for those who see Data’s fundamental value and learn to extract and use it there will be huge rewards.
“We are in a digital economy where data is more valuable than ever. It’s the key to the smooth functionality of everything from the government to local companies. Without it, progress would halt”.
Oluwarotimi Arakunrin Akeredolu, SAN, Governor of Ondo State, speaking at the event via virtual platform, emphasized the importance of Data to all stakeholders in Nigeria’s economy, noting that it’s the lifeblood of any digital economy.
He said, “The importance of data cannot be overemphasised in the economy of nations because data is the lifeblood of digital economy.
“We are in digital economy where data is more valuable than ever.
“Hence, it is not surprising that data has of late been referred to as ‘the new oil’. Data is an essential resource that powers the present digital economy”.
Mr Kashifu Inuwa, the Director-General, National Information Technology Development Agency (NITDA) speaking on the topic: Nigeria Data Protection Regulation (NDPR) and the Future of Data Governace, said the world has gradually evolved into a digital platform in which everything we do appears to be linked to technology in some way.
He noted that the digitalization phenomenon has now elevated digital platforms to become drivers of the economy rather than enablers.
The DG added that digital economy is highly dependent on the availability of data and the requisite skills to process such data to extract maximum economic and social value.
Abiodun Omoniyi, CEO, VDT Communications Limited, who spoke on the theme: ‘Why Data will be the New Oil in the Digital Economy’, said that data is now world’s most valuable resource.
He stated that it will not be right to say that data will be the new oil, but that it is already the new oil.
On the contributions of Telecom industry in the Nigerian economy, Omoniyi said, “Telecom is already the new oil especially in Nigeria with the highly dwindling oil fortunes.
“The fact that telecoms globally and in Nigeria are largely driven by the private sector gives it tremendous room for growth.
“However, governments around the world and including Nigeria need to create growth-oriented policies and provide enabling environments for the full potentials of data to be harnessed.
“Data has enormous potentials to displace oil in leading the global economic growth now and the foreseeable future”.
News
NITDA Communications Director Hadiza Umar Named in 2026 PR Power List, Graces Glazia Magazine Cover
Mrs. Hadiza Umar, Director of the Corporate Communications and Media Relations Department at the National Information Technology Development Agency (NITDA), has been officially recognised as one of Nigeria’s top public relations professionals in the prestigious 2026 PR Power List.
The definitive annual list, compiled by GLG Communications in partnership with The Guardian, was unveiled to commemorate World PR Day.
It celebrates 50 outstanding professionals within Nigeria and the diaspora whose strategic communication strategies have significantly shaped organisations, influenced public discourse, and advanced the profession over the past 12 months.
Adding to the momentous milestone, Mrs. Umar was hit with a major surprise at the exclusive PR Power List Soirée and Awards ceremony held at the Alliance Française in Ikoyi, Lagos, where she was unveiled as a front-cover personality for the Glazia Magazine PR Power List Special Issue.
The double recognition highlights her exceptional distinction and impact in public sector communications and narrative management.
Speaking on the dual achievement, Mrs. Umar expressed profound gratitude for the honours, describing the magazine cover appearance as a breathtaking surprise.
“I am deeply humbled and honored to be recognized on the 2026 PR Power List and to feature on the cover of Glazia Magazine alongside other exceptional industry titans,” Umar said.
“This milestone is a testament to the enabling environment and visionary leadership of the Director General of NITDA, Kashifu Inuwa Abdullahi, CCIE, which has allowed us to strategically drive the narrative of Nigeria’s digital economy and technological innovation.”
Mrs. Umar, a highly respected corporate communications strategist, holds professional fellowships in the Nigerian Institute of Public Relations (Chartered), the African Public Relations Association (APRA), and the Institute of Corporate Administration (CICA).
Under her supervisory role, NITDA’s media relations have consistently projected national information technology frameworks, start-up support frameworks, and digital literacy initiatives, to position Nigeria competitively on the global stage.
The 2026 PR Power List selection process involved a rigorous, independent evaluation led by a distinguished international jury.
The organisers noted that the class of 2026 represents professionals raising the standard of strategic communications and introducing new ideas to the industry.
The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.
NITRA
The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.
Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.
Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.
According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.
It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.
The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.
The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria
The board of global payments company, PayPal, says a 53 billion dollars takeover offer from financial technology firm, Stripe, and private equity company, Advent International, does not adequately reflect the company’s long-term value.
PayPal
According to reports, the proposed acquisition, valued at 60.50 dollars per share, remains under consideration, with the board yet to formally respond to the offer.
The directors are said to be evaluating not only the financial value of the proposal but also the structure of the financing, the timeline for completing the transaction and the likelihood of obtaining regulatory approvals.
They are also considering the possibility of competing bids emerging.
Although the offer represents a premium of about 28 per cent above PayPal’s recent share price, the board believes the company could deliver greater value to shareholders if its ongoing turnaround strategy succeeds.
Following reports of the bid, PayPal shares gained about two per cent to close at 56.73 dollars.
Sources familiar with the discussions said Stripe and Advent have secured approximately 50 billion dollars in debt financing from JPMorgan and Morgan Stanley, while both firms would jointly contribute 17 billion dollars in equity.
Under the proposal, the two companies would jointly own PayPal instead of dividing its operations.
PayPal, Stripe, Advent International, JPMorgan and Morgan Stanley have all declined to comment on the proposed transaction.
The discussions come as PayPal seeks to strengthen its business after years of increasing competition from rivals including Apple Pay, Google Pay and emerging financial technology firms.
The company, which was valued at about 360 billion dollars in 2021, now has a market capitalisation of approximately 36 billion dollars.
Since assuming office as Chief Executive Officer in March 2026, Enrique Lores has embarked on a restructuring programme aimed at improving operational efficiency and restoring growth.
The restructuring includes the creation of three business divisions comprising Checkout, Venmo and Consumer Financial Services, and Payments and Crypto.
The company is also targeting 1.5 billion dollars in cost savings through the deployment of artificial intelligence technologies.
PayPal’s latest financial results indicated signs of recovery, with first-quarter revenue rising seven per cent year-on-year to 8.35 billion dollars, while total payment volume increased by eight per cent to 464 billion dollars.
If approved, the transaction would combine two of the world’s largest digital payments companies.
The combined business would process an estimated 3.7 trillion dollars in annual payment volume, significantly strengthening its position in the global online payments market.
However, analysts expect the proposed acquisition to face intense regulatory scrutiny because of the companies’ combined market share in merchant payment services.
To address possible antitrust concerns, the bidders have reportedly considered options, including separating PayPal’s Braintree business or other assets if required by regulators.
Sources said Stripe and Advent remain interested in pursuing the acquisition despite the board’s reservations, although negotiations are expected to continue.
Market observers are also awaiting PayPal’s earnings report scheduled for July 28 for further indications of the company’s financial recovery and future growth prospects.
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