E-Business
eNigeria2016: NITDA Plans to Reverse over $2.8Bn Annual Loss to ICT Importation

National Information Technology Development Agency (NITDA), has decried the increasing level of revenue loss to acquiring foreign hardware and software running into over $2billion annually.
To this end, NITDA is considering processes to reverse the economic loss, with stakeholders in the Information and Communication Technology (ICT) led by Barrister Adebayo Shittu, minister of Communication, backing NITDA’S new direction.
Shittu, who doubled as chairman of the occasion, said the present economic realities in the country, following the dwindling revenue from oil sector has spurred national alternative to diversifying the economy for sustainable development.
The Minister said: “There is no such better alternative than ICT, which has recorded tremendous growth and contribute about 12.62% to total nominal GDP and 12.68% to total real GDP in second quarter of 2016 according to National Bureau of Statistics.
“The ICT revolution offers a historic opportunity to enable national adjustment to a fast changing and knowledge-driven global economy. It opens the opportunity for Nigeria to transform to an open, smart, and inclusive economy. It offers new tools and platform to address the region’s challenges particularly in areas such as governance, employment, demands for public services, export diversification, structural transformation ,and global competitiveness amongst others”.
Shittu reiterated, however, that the challenge presently focuses not only on closing the gap in access to technology but also on enhancing ICT innovation and promoting digital industries.
“Indeed, the access to technology is an important factor for us in Africa and for that we should focus our efforts on collaborating with the ICT private sector in the digital economy and the key role SMEs play in our digital ecosystem as well as regional strategic partnerships in order to be able to do business and make it possible for all to communicate; but we need to address the ultimate application of this potential technology to tackle the underlying challenge of human capacity development.
“Developing the capacity of human resource gives us an opportunity to turn on the furthest reaching and fastest growing technology to bridge the gap. There is need therefore to tap the potential of this technology so as to ensure that everyone can enjoy the opportunity for economic mobility, personal advancement and higher quality of life.”
The Minister observed that the shift in world economy towards knowledge based products and services have become indispensable in recent past as globalisation and developments in ICT had changed the business scenario and the entire landscape.
To this end, Shittu told delegates at eNigeria that the Ministry will collaborate with NITDA to ensure all tiers of government consider the adoption of Open Data Policy (ODP) as a means of creating jobs, making data available for policy formulation and decision making as well as reducing the cost of governance and improving service delivery.
Earlier in his welcome address, Dr. Isa Ali Ibrahim Pantami, NITDA’s DG/CEO, decried that Nigeria loses approximately $2.8 billion annually from the importation of ICT goods and services, including a whopping $1 billion spent annually on software imports.
The DG described as unacceptable a situation locally manufactured or assembled computers represent less than 8% of all the computers used in the country.
“Similarly, Nigeria is projected to expend about $143.8 billion on ICT by 2019- a vast sum that translates to over 7 times the value of the 2016 national budget!
“We strongly plead with our international manufacturers to domesticate their products in order to achieve a win-win relationship.
“Within the limits of the mandate that set us up, we at NITDA are repositioning ourselves to filter the IT gadgets being imported to the country in the overall interest of the nation.
“We want to transform NITDA from its administrative outlook to IT-driven and knowledge-based agency, and we request the support of all to materialize this aspiration”, the DG said.
Dr. Pantami said that there are tremendous gains to be made from a Local Content Policy that encourages the development of local ICT products and services.
Among other things, he said that it will significantly reduce capital flight.
“His Excellency, President Muhammadu Buhari, GCFR, rightly pointed this out at the 2016 Nigerian Economic Summit Group meeting, where he stated that, ‘Economic growth is impossible without a focus on made in Nigeria’.
“In addition to the emphasis that NITDA will lay on regulation, local content development and capacity building, we are making concerted efforts to create, as well as review, existing standards and guidelines.
“This will enable us to regulate the sector in line with the highest global standards. We are committed to ensuring that the proliferation of fake and sub-standard ICT products and services in the country is eliminated or at least significantly curtailed.
“Similarly, security in the 21st century is highly reliant on ICTs and we want to encourage the development of ICT-enabled security services across all sectors of the economy. In addition to our support for the use of ICT for physical security, we are also committed to ensuring the cybersecurity of our nation. Our Computer Emergency Readiness and Response team (CERRT) and our Public Key Infrastructure (PKI) project will support in these efforts.
“Job creation is also very important to us at NITDA. According to the National Bureau of Statistics’ national youth survey report, there are nearly 70 million people in the 15 to 35 age bracket. Unfortunately, they also report that over half of these are unemployed, and many more are underemployed. We recognize that this challenge gives us a good opportunity to use ICT to empower our youth, create jobs and generate revenue for the country. Interestingly, the Federal Government of Nigeria through the office of the Vice-President created 200,000 jobs for Nigerians”, he said.
The DG added that in order to bring about the objectives they have set for themselves under his leadership, the Agency will correct irregularities, fight corrupt practices and resist unnecessary and unproductive interference in the affairs of the NITDA. “But I need the help of all Nigerians, particularly IT stakeholders, in this all-important task”, he prayed.
E-Business
Kaspersky Reveals Malware Attacks on SMBs Disguised as AI Services Surged by Five Times in 2026

From January to April 2026, Kaspersky security solutions detected more than 33,300 attacks on small and medium-sized businesses (SMBs), in which malicious or unwanted software for PCs were disguised as popular artificial intelligence (AI) services. This number has surged by almost five times when compared to the same period in 2025.

A new Kaspersky report reveals threat analysis and mitigation strategies to help SMBs protect themselves against the evolving threat landscape.
Kaspersky experts explored the extent to which threat actors target small and medium-sized businesses with malware disguised as legitimate AI services, considering the growing popularity of such tools for the business workflow. At the beginning of 2026 the most common lures in cyberattacks involved malware posing as ChatGPT (42%), Claude (24%), and DeepSeek (20%).
Among unique malicious files detected in the SMB sector and masqueraded as AI services, Kaspersky experts observed mainly different Trojware (Trojans and Trojan-like malware), including those capable of downloading and running other malware on compromised devices.
Trojware disguises itself as harmless files to trick users into installing them. Their functionality may vary depending on the type of the malware. It may include stealing, deleting, blocking, modifying or copying users’ data, as well as other malicious capabilities. Given this, Trojware represents a highly dangerous cyberthreat to entrepreneurs and businesses.
However, in 2026 Kaspersky telemetry detected even more attacks on SMBs, in which malicious or unwanted software for PCs were disguised as messenger apps and video conferencing software: Telegram, WhatsApp, Zoom and Microsoft Teams. From January to April Kaspersky solutions blocked almost 415,000 such attacks.
The number of attacks changed marginally compared to the previous year’s figures. Thus, Kaspersky experts note that the lure of fake communication apps remains a widespread cyberthreat.
“The threat landscape is evolving with new lures constantly appearing. For example, for the first four months of this year our solutions for small and medium-sized businesses detected hundreds of attacks, in which malicious or unwanted software were disguised as OpenClaw – an AI tool that rapidly gains popularity in 2026.
Corporate employees are increasingly using various AI services and other tools in their workflows, including those that are publicly available. Thus, to be on the safe side, SMB employees – as well as all users – should exercise caution when looking for software on the Internet. Always check the correct spelling of the website and links in suspicious emails, and use robust security solutions,” says Vasily Kolesnikov, security expert at Kaspersky.
“As adversaries constantly refine their methods to exploit human error, the need for up-to-date security awareness training for businesses of all kinds and sizes is undeniable. However, the reality is that micro-organisations often struggle to allocate time and budget to regularly update their staff on the latest threats and malicious trends.
“We believe this issue can be largely addressed through solutions tailored for small businesses which deliver robust core protection while also providing accessible security education,” adds Rodion Pyanov, product manager, Kaspersky Small Office Security.
E-Business
LG Showcases AI-Powered Smart Living Innovations @ Africa Technology Expo 2026

LG Electronics has reaffirmed its commitment to advancing innovation and smart living across Africa by participating as a supporting sponsor at the Africa Technology Expo (ATE) 2026, where the company is showcasing its latest portfolio of premium consumer electronics and home appliance innovations.

The two-day expo, themed around strengthening Africa’s enterprise technology ecosystem through collaboration and innovation, has brought together industry leaders, technology innovators, multinational companies, policymakers, and entrepreneurs to explore opportunities for cross-border partnerships and digital transformation across the continent.
As one of the supporting sponsors of this year’s event, LG’s interactive exhibition booth has become a major attraction, offering visitors firsthand experience of the company’s latest AI-powered technologies designed to enhance everyday life while delivering greater comfort, convenience, energy efficiency, and connectivity.
Among the innovations on display are the latest LG QNED TV, delivering exceptional picture quality and immersive entertainment; the iconic MoodUP™️ Refrigerator, which combines intelligent cooling with customizable LED door panels; the innovative LG WashTower™️, an all-in-one premium laundry solution that maximizes space and efficiency; the energy-efficient LG ARTCOOL Air Conditioner and LG Air Tower, designed to provide smarter climate control; alongside LG’s advanced Dehumidifier and other intelligent home solutions.
Speaking on LG’s participation, Mr. H.S. ji, Managing Director, LG Electronics West Africa, said: “Africa Technology Expo provides an excellent platform to engage with innovators, businesses, and consumers who are shaping the future of technology across the continent. At LG, innovation goes beyond creating advanced products, it is about developing meaningful solutions that improve everyday life.
“Our participation reflects our commitment to supporting Africa’s digital transformation while introducing intelligent technologies that make homes and workplaces smarter, healthier, and more energy-efficient.”
The Africa Technology Expo was established to foster stronger collaboration among African businesses, emerging enterprises, and multinational organisations. During the opening ceremony, the organisers emphasized the need for deeper continental collaboration to unlock Africa’s innovation and economic potential, noting that previous editions of the expo have facilitated approximately $192 million in business deals among participating companies.
LG’s presence at the event aligns with this vision by demonstrating how cutting-edge consumer technology can support economic growth, digital inclusion, and sustainable development across Africa.
Visitors to the LG booth are participating in live product demonstrations, interactive experiences, and expert consultations, gaining valuable insights into how LG’s AI-powered ecosystem seamlessly connects home appliances and entertainment products to deliver a smarter lifestyle.
As technology continues to reshape industries and everyday living, LG remains committed to driving innovation that empowers consumers, supports enterprise growth, and contributes to Africa’s evolving digital economy.
E-Business
Want a Business Loan Without Interest? SMEDAN Launches N500m Fund

Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has secured a 12 million-dollar commitment from the South Korean Government to establish a Skills Acquisition Centre in Abuja to boost entrepreneurship and strengthen Nigeria’s Micro, Small and Medium Enterprises (MSMEs).

SMEDAN
The Director-General of SMEDAN, Mr Charles Odii, disclosed this in a statement on Sunday to commemorate the 2026 World MSME Day with the theme: “Empowering MSMEs through Innovation and Sustainable Industrial Development.”
Odii said the proposed centre would provide vocational and entrepreneurial training for thousands of young Nigerians and improve the productive capacity of small businesses across the country.
He said the agency was awaiting the allocation of land by the Federal Capital Territory Administration (FCTA) to commence the project.
According to him, SMEDAN is determined not to allow Nigeria to lose the opportunity presented by the South Korean Government’s intervention.
“We need land in the FCT to build the Skills Acquisition Centre. If the FCT Administration is unable to provide one, we will use our office premises in Idu, Abuja, because we do not want Nigeria to miss this 12 million-dollar commitment and opportunity offered by the Korean Government to support skills and vocational training,” he said.
Odii described MSMEs as the backbone of Nigeria’s economy, noting that the agency’s interventions were aimed at empowering small businesses to drive employment and economic growth.
“Small businesses are the heartbeat of Nigeria’s economy. They contribute significantly to employment generation and economic growth.
“By providing infrastructure, skills and financing, we are creating an enabling environment for them to grow, thrive and contribute meaningfully to national development,” he said.
The SMEDAN boss also announced the launch of a N500 million zero-interest Grow Fund to improve access to affordable finance for MSMEs.
He said the facility would be disbursed through cooperative societies, trade associations and business membership organisations under a revolving loan arrangement.
Odii explained that the association-based lending model was designed to improve accountability, ensure effective monitoring and guarantee that funds reached genuine entrepreneurs.
“We visited traders at the market because it is not enough to sit in offices and formulate policies without understanding the realities of the people we are meant to serve.
“We met with butchers, pepper sellers, vegetable traders, provision store owners and market leaders, and they all said one thing: they need access to affordable finance.
“That was why we immediately decided to launch the N500 million Grow Fund. We are not giving the money directly to individuals. We are giving it to associations that know their members and can monitor how the funds are used,” he said.
According to him, beneficiaries will access loans ranging from N250,000 to N500,000, depending on their business needs, without paying interest.
“The funding is meant to support and improve businesses. It should be used for working capital, workspaces, tools and other productive business needs.
“It is a revolving fund. When one beneficiary repays, another entrepreneur can access the same money. This way, the impact of the intervention continues to expand and more small businesses can benefit,” he added.
Odii said the agency planned to expand the fund through partnerships with state governments, development partners and financial institutions willing to provide matching funds.
He also disclosed that SMEDAN had commenced consultations on a new National MSME Policy, expected to be relaunched in November, to strengthen the policy framework for the sector.
He reaffirmed the agency’s commitment to supporting small businesses through skills development, access to finance and policies that would enhance their competitiveness and contribution to Nigeria’s economic development.
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