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Digital Economy a Catalyst for National Development- Shittu

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Reuben Muoka, Head, Public Relations, Nigerian Communications Commission,Dr Bayero Agabi, Executive Director, Centre for Cyber Awareness and Development, CECAD, Dr Adebayo Shittu, Minister of Communications and Tony Ojobo, former Director of Public Affairs, NCC, at the 5th edition of the Nigeria Mobile Economy Summit and Expo (NIMES 2018) recently in Lagos.
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Dr Adebayo Shittu, Minister of Communications has said that Nigeria will not have any meaningful development without a commensurate level of development in digital economy and technology.

He stated this on Thursday at the 5th edition of the Nigeria Mobile Economy Summit and Expo (NIMES 2018) held in Lagos.

Shittu noted that Nigeria must begin to see the development and use of mobile technology applications and tools as prerequisites to speedy national development.

Acoording to him, “We at the Federal Ministry of Communications strongly believe that Nigeria cannot have any meaningful development without a commensurate level of development in digital economy and technology.

“We as a nation must begin to see the development and use of mobile technology applications and tools as prerequisites to speedy national development.

“Therefore, from whichever way you look at it, Information and Communications Technology is very vital and pivotal for whatever any country wants to do to achieve development and growth.

He emphasized that the transformational benefits of the mobile economy is predicated on the gains observed from Government’s diversification process which is hinged on ICTs.

He reiterated government’s commitment to local content, which is expected to provide further opportunities for the economy to get the desired boost to enhance mobile innovation and governance in the country.

 

He revealed that Nigeria is the fastest growing markets for mobile technology and trends in Africa, noting that the ministry is poised to create affordable and reliable access to ICT services and infrastructure development through their various plans and initiatives.

Dipo Fatokun, Director, Banking & Payment system, Central Bank of Nigeria, (CBN) speaking at the event, said that the theme of this year’s Expo is in line with the apex bank’s objective to promote mobile money operations in the country.

He applauded Center for Cyber Awareness & Development (CECAD) and other stakeholders in the industry for promoting mobile innovations and application for the effective growth of Digital Payments System in Nigeria.

He added that the CBN in a bid to encouraged mobile technologies and digital payment system has come up with a Regulatory Framework for Mobile Payment Service in Nigeria.

He noted that the objective of the Framework is to provide an enabling environment for mobile payments services in reducing cash dominance in the Nigerian economy.

Fatokun stated that the evolution of mobile payment system the world over has shown a tremendous change in banking and payments services.

Dr Bayero Agabi, Executive Director, Centre for Cyber Awareness and Development, CECAD organizers of Nigeria Mobile Economy Summit and Expo (NIMES) said that Nigeria has become developed and huge thriving mobile hub.

He noted that the aim of the Award is to celebrate the impact of the Mobile Economy in the country.

He explained that for the country to move from 400 thousand lines in 2001 to well over 198 million lines shows that we have really become a huge and thriving mobile hub.

“For many consumers across Nigeria, the mobile phone is not just a communication device but also the primary channel to get online, as well as a vital tool to access various life-enhancing services.

“Mobile adoption in Nigeria has grown rapidly in recent years. Access to mobile connectivity is vital to empowering consumers and driving economic growth.

“Technology enhances access to many essential services, including education, health and utilities, while also enabling business models that support the efficient and sustainable delivery of key services through mobile-based platforms such as mobile money, music, and changes to the way we do business and interact,” Agabi added.

 

 

 

 


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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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ASVLP 2026: Africa, MENA VCs Gear Up as Tech Funding Hits $4.1bn Rebound

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As Africa and MENA’s startup ecosystems transition from post-correction resilience into a new phase of disciplined growth, the Africa Startup & VC Landscape Preview (ASVLP 2026) will convene leading founders, investors, policymakers, and ecosystem builders on January 29, 2026, for its second annual, agenda-setting virtual forum.

ASVLP 2026: Africa, MENA VCs Gear Up as Tech Funding Hits $4.1bn Rebound

Following a challenging global venture cycle, 2025 marked a notable rebound across the African ecosystem, with startups raising an estimated $3.2–$3.3 billion over the full year.

The recovery was accompanied by significant structural shifts: Kenya emerged as the leading destination among Africa’s “Big Four” markets for the first time, while Nigeria recorded a year-on-year funding decline, reflecting changing investor preferences, macroeconomic pressures, and a broader recalibration toward capital efficiency and sustainability.

Sectorally, fintech remained the most funded vertical, while climate & energy, AI-enabled solutions, healthtech, and infrastructure-adjacent businesses gained increasing attention. Across Africa and MENA, development finance institutions (DFIs) and family offices played a more pronounced role in anchoring funds, deploying catalytic capital, and supporting blended-finance structures, reshaping how early-stage and growth capital is mobilized.

ASVLP 2026 is designed to translate these data points into forward-looking strategy.

The forum will bring together venture capitalists, angel investors, LPs, DFIs, family offices, founders, corporate leaders, and regulators from Africa, MENA, Europe, and North America to assess 2025 outcomes and chart priorities for 2026.

The program will feature keynotes, fireside chats, panels, and deep-dive roundtables, including discussions on:

· The 2026 Africa & MENA FinTech Landscape, focusing on security, profitability, regulation, and growth frontiers

· Emerging Fund Managers, capital formation, and LP alignment

· Talent, operator depth, and institutional capacity as constraints to scale

· Regulatory evolution and cross-border market integration

A major highlight of ASVLP 2026 will be the Final DealRoom Pitch Session, where a curated group of high-potential startups will present to an experienced panel of investors.

• Founders can apply to pitch via: bit.ly/ASVLP-DR-Founders
• Investors seeking DealRoom access can request entry via: bit.ly/ASVLP-DR-Investors

Confirmed speakers for ASVLP 2026 include Khaled Ismail (HIMangel), Idris Ayodeji Bello (LoftyInc Capital), Zachariah George (Launch Africa), Tosin Faniro-Dada (Breega), Selma Ribica (FirstCircle Capital), Maha Mandour (COREangels MEA), Joe Kinvi (Borderless), Remi Prunier (Orange Ventures MEA), Karima El Hakim (Plug and Play Tech Center), Souheil Guessoum (President, The Confederation of Citizen Employers – Algeria (CAPC)), Remi Prunier (Partner, Orange Ventures, MEA), Maha Mandour (COREAngels MEA), Ali Hussein (President, Kenyan FinTech Association), Patrick Okebu (CIO, Interswitch Group) among other leading voices shaping capital, policy, and innovation across the region.

“The conversation has shifted,” said Uche Aniche, Convener of ASVLP. “It’s no longer about whether capital will return to Africa and MENA, but what kind of capital, deployed with what discipline, and in service of which long-term outcomes. ASVLP exists to help the ecosystem make sense of that transition.”

Participation in ASVLP 2026 is free but strictly by invitation.
Interested participants are encouraged to repost the official announcement on LinkedIn and comment #ASVLP2026 to receive a private registration link. They could also email [email protected] and request invite.


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TikTok, Instagram Blamed in US Youth Suicide Lawsuit

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Major social media giants Meta Platforms, TikTok and Alphabet’s YouTube will face a landmark jury trial this week in Los Angeles County Superior Court over allegations that their addictive designs have fuelled a youth mental health crisis, marking the first such case to reach this stage.

TikTok, Instagram Blamed in US Youth Suicide Lawsuit

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The pivotal personal injury lawsuit centres on a 19-year-old Californian woman identified as K.G.M., who claims her childhood immersion in Instagram, Facebook, YouTube and TikTok—engineered with endless scrolls, autoplay videos, notifications and algorithms—sparked severe anxiety, depression and suicidal thoughts.

Dozens of similar suits have surged since 2022 from families, schools and states, accusing the firms of burying internal research on teen harms while prioritising ad revenue through youth-targeted engagement hooks, despite Section 230 protections for user content.

Plaintiffs seek damages and design overhauls, arguing platforms bypassed parents and preyed on vulnerable kids; defendants counter there’s no clinical “social media addiction” diagnosis, no proven causation—kids with issues often use less—and they’ve added safeguards like parental controls and time limits.

Echoing Australia’s under-16 bans, the trial will scrutinise thousands of internal documents, expert testimonies and K.G.M.’s story, potentially expanding tech liability amid debates where studies show complex links, not direct causation, between screen time and disorders like eating issues or self-harm.

A win could mandate warning labels, age gates or algorithm tweaks, reshaping global platforms as U.S. Surgeon General advisories and global scrutiny intensify pressure on Big Tech to prioritise child safety over profits.


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Meta Tests Paid Subscriptions Across Instagram, Facebook, WhatsApp

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Meta is gearing up to trial paid subscription services on Instagram, Facebook, and WhatsApp, aiming to diversify revenue streams beyond advertising while maintaining free core access for all users.

Meta Tests Paid Subscriptions Across Instagram, Facebook, WhatsApp

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The subscriptions will offer enhanced tools tailored for everyday users, creators, and businesses, including advanced content creation, sharing, and workflow features distinct from the existing Meta Verified verification program. Unlike a uniform rollout, Meta plans varied testing formats per app to match diverse audiences, experimenting with feature bundles based on user feedback to refine the model.

A key element involves integrating Manus, the autonomous agent firm Meta acquired for $2 billion in December, into these apps alongside its enterprise sales. Manus enables complex task automation with minimal input, with early signs like Instagram shortcuts already spotted by reverse engineer Alessandro Paluzzi.

Video tools feature prominently: Meta’s Vibes short-form video generator in the Meta AI app shifts to freemium, where paid tiers unlock higher monthly creation limits beyond the free baseline. On Instagram, subscriptions could enable unlimited audience lists, non-follower tracking, and anonymous Story views, though specifics for Facebook and WhatsApp remain under wraps.

Drawing from Meta Verified’s 2023 launch—which provides badges, support, and protection mainly for creators—these broader plans target wider appeal amid industry shifts. Ad growth slows against TikTok competition, while Snapchat+ boasts 16 million subscribers at $3.99 monthly, proving demand for value-driven paid perks despite subscription fatigue risks from streaming and storage fees.

Meta will phase tests gradually, prioritizing feedback to shape long-term viability without alienating free users.


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