News
FG Earmarks N950Bn for Security in 2013 Budget

Federal Government has earmarked some N950 billion in this year’s budget to tackle the internal security challenges confronting the country.
A breakdown showed that the armed forces will get N364 billion; the police N320 billion; Office of the National Security Adviser N115 billion; while the Ministry of the Interior is to get N154 billion.
Dr. Ngozi Okonjo-Iweala, coordinating minister of the Economy/minister of Finance, gave the details during a sectoral analysis of the budget, Abuja.
According to her, Critical Infrastructure (including Power, Works, Transport, Aviation, Gas pipelines, and Federal Capital Territory) received N497 billion; Human
Capital Development (that is, Education and Health) received budget of N705 billion; and Agriculture/Water Resources – N175 billion.
The minister however refuted rumours that the delay in the passage of the budget was deliberately orchestrated by the Presidency so as to mop up unspent funds in the 2012 budget against the 2015 general elections.
Okonjo-Iwuala further explained issues that led to the budget crisis, thus: “I reject the insinuation of 2015 or politics into the budget issue totally. There was no issue or instance of scooping money for 2015. Let us be fair, even to the politicians. Besides being false, such repots paint the picture of all Nigerians being corrupt or thieves, which is not true.”
She attributed the delays to “the moving around” of some projects and funds by the National Assembly, for which the Presidency was not comfortable.
Okonjo-Iweala explained that “this year’s budget process would better so that the 2014 budget is fairly smooth as all of us are learning.”
She hinted that 2013 budget of N4.987 trillion promotes the continuity of the four main pillars on which the 2012 Budget, namely: Macroeconomic stability, Structural reforms, Governance and institutions, and Investing in priority sectors.
“This budget continues the theme of fiscal consolidation with inclusive growth and is underpinned by the following parameters: Oil production of 2.53 million barrels per day compared to 2.48 million barrels per day in 2012; Benchmark oil price of $79 per barrel, up from $72 per barrel in 2012; Projected real GDP growth rate of6.5 per cent and Average Exchange Rate of N160/$,” she added.
The Finance minister gave the priorities of the budget as the reduction in the cost of governance, the restructuring the budget in favour of capital expenditure, the extension of IPPIS to more MDAs, the commencement implementation of the Steve Oronsaye report while awaiting the “White Paper” and the debt management/sinking fund – retiring maturing obligations.
Others are: Focus on infrastructure , especially ongoing capital projects, Job creation through (a) reducing infrastructure challenges, (b) YouWin, SURE-P, etc., as well as fiscal measures aimed at promoting domestic industry and creating employment as well as supporting gender programmes and sporting activities.
Against the backdrop of criticisms that the 2012 budget did not perform, the minister said the 2012 budget financed a number of important projects across the country, including the rehabilitation of tracks for the Lagos-Kano railway line; the ongoing construction of the East-West Road and the dualisation of the Kano-Maiduguri Highway.
“In spite of the turbulent global economic environment and changing global oil map, the Nigerian economy has been resilient, experiencing a robust growth in 2012 of 6.5 per cent compared with global growth of 3.2 per cent. Inflation is now down to single-digits at 9 per cent in January 2013, compared with 12.6 per cent in January 2012. Our fiscal deficit is on a downward trajectory, and below our threshold of 3 per cent, while the exchange rate has remained stable,” she stated.
Speaking further, Okonjo-Iwuala said: “Government is also building up the necessary savings to cushion the economy against a possible global recession or collapse of oil prices. For instance, the balance in the excess crude account has increased from $4.22 billion in August 2011 to about $9 billion at the end of 2012.
“In addition, we have launched Nigeria’s Sovereign Wealth Fund, with an initial capitalization of $1 billion, and we hope to increase this Fund further in the future. Our foreign reserves have also grown steadily, and now stand at $47.38 billion as at the end of February 2013 – the highest level for almost 3 years!
“There has been strong external validation of the management of Nigeria’s economy, despite the global economic slowdown. The leading international rating agencies – Fitch, Standard & Poor’s, and Moody’s – have upgraded the outlook for the Nigerian economy, even at a time when other developed and emerging economies are being downgraded.
“Nigeria’s domestic bonds have also gained international prominence, and were recently included in the JP Morgan and Barclays Emerging Market indices. All these external endorsements provide further testimony to our strong macroeconomic fundamentals.”
The Finance minister continued: “The 2013 Budget makes provision for an aggregate expenditure of N4.987 trillion, representing a modest increase of 6.2% over the N4.697 trillion appropriated for 2012.
“This is made up of N387.97billion for Statutory Transfers; N591.76 billion for Debt Service; N2.38 trillion for Recurrent (Non-Debt) Expenditure, of which N1.717 trillion is the provision for personnel cost while overhead cost is projected at N208.9; and a total of N1.62 trillion has been provisioned for Capital Expenditure. In addition, N273.5 billion has been provisioned for the Subsidy Reinvestment (SURE-P) programme.
“Based on the above assumptions, the gross federally collectible revenue is projected at N11.34 trillion, of which the total revenue available for the Federal Government’s Budget is forecast at N4.1 trillion, representing an increase of 15 per cent over the estimate for 2012. Non-oil revenue is projected to sustain its growth in 2013.”
News
ALX Broadens AI Training in Africa

Pan-African talent accelerator ALX is expanding its footprint and shifting to a fully self-paced learning model to train and integrate young Africans into the workforce, as the global economy reorganises around artificial intelligence (AI).

Partnering with the MasterCard Foundation, the technology training provider and career accelerator designed to equip African talent, says it enables learners to access tech training for $5 a month.
It emphasises a shift in demographics saying that by 2035, more young Africans will enter the workforce annually.
ALX notes that its model has graduated 347,100 learners, with 63% finding employment within six months. Women represent over half of all graduates. To increase flexibility, the organisation emphasises that learning is now entirely self-paced.
“Learners progress through modular blocks, earning credentials as they go, ensuring that the training fits around their existing responsibilities,” says Shana-Michelle Rabonda, Chief Operating Officer of ALX.
Rabonda adds that global employers are taking notice: “We are building a direct pipeline to the global digital economy. When companies look for elite tech talent, they are looking at Africa.”
Due to this demand, firms such as Absa, Stanbic Bank, MTN, and KPMG now employ between 50 and 180 ALX graduates each. Meanwhile, community entrepreneurs have created over 60,100 jobs through AI startups like Signvrse and Edulga.
With Africa’s AI market projected to grow to $16.5 billion by 2030, ALX operates alongside competitors like Moringa School and GoMyCode to secure mindshare.
“With the right skills and networks, young Africans can seize these opportunities,” Rabonda emphasises. “Africa’s youth should not just be consumers of AI; they should be creators shaping innovations that will define the global economy.”
News
Swift Network Faces Winding-up Battle over Alleged N115m Debt

A Federal High Court sitting in Lagos has ordered the advertisement of a winding-up petition filed against telecommunications service provider, Swift Network Plc, over its alleged inability to settle a debt exceeding N115 million.

The order followed an application filed by Optics and Wireless Limited through its counsel, Bimbo Adebayo-Ogunlaja, urging the court to permit the publication of the winding-up petition instituted against the company.
In the petition, Optics and Wireless Limited alleged that Swift Network Plc is indebted to it in the sum of N115,482,302.88, being the outstanding payment for network devices supplied to the telecommunications firm since April 2024.
The petitioner is also seeking the payment of N70,530,062 as accrued interest arising from a loan facility allegedly obtained to finance the transaction between both parties, as well as general damages for breach of contract.
According to court documents, the dispute arose from a series of transactions carried out between April 2024 and February 2025, during which Swift Network Plc, through its procurement officer, allegedly requested the petitioner to manufacture and supply various network devices based on purchase orders issued by the company.
The petitioner stated that payment for the supplied items was expected either immediately after delivery or within 30 days of supply, but alleged that Swift Network repeatedly failed to honour the agreement despite receiving the products.
Optics and Wireless Limited further claimed that it became apparent after the final order for servers in April 2025 that the respondent was either unwilling or unable to settle the accumulated debt.
The petitioner also informed the court that its solicitors, Messrs Zionla Legal Practitioners & Solicitors, subsequently issued a statutory notice of demand dated December 11, 2025, demanding payment of the outstanding sum and accrued interest.
According to the petitioner, all efforts to recover the debt proved unsuccessful, adding that the situation has exposed the company to serious financial challenges and possible legal action from the bank that allegedly granted it the loan facility used to execute the supply contracts.
Optics and Wireless Limited argued that Swift Network Plc is insolvent and unable to meet its financial obligations, urging the court to wind up the company in line with the provisions of the Companies and Allied Matters Act and the Winding-Up Rules.
Among the reliefs sought, the petitioner asked the court to order that Swift Network Plc be wound up by the court and that any voluntary winding-up process involving the company should continue under the supervision of the court.
Justice Lewis Allagoa subsequently adjourned the matter till July 10 for further hearing.
News
Simba Infrastructure, Galaxy Backbone Partner to Deliver Hosted Unified Communications and Call Centre Solutions Across Nigeria

Simba Infrastructure Limited, a leading provider of customer experience and communications technology, has entered into a strategic partnership with Galaxy Backbone Limited (GBB), the Federal Government of Nigeria’s ICT infrastructure and shared services provider, to deliver Hosted Unified Communications (UC) and Hosted Call Centre Solutions to organisations across both the public and private sectors.

This collaboration brings together Simba Infrastructure’s deep expertise in converged communication technologies, systems integration, and private-sector engagement with Galaxy Backbone’s trusted government relationships, world-class Tier III and Tier IV data centre infrastructure, and an extensive fibre-optic network spanning 30 states and the Federal Capital Territory.
Together, both organisations will deliver secure, scalable, and cost-effective communication solutions designed to transform how businesses and government institutions engage with customers and citizens.
Under this this partnership, Simba Infrastructure will lead business development efforts within the private sector, delivering tailored Unified Communications and Call Centre solutions aligned with the unique needs of enterprises. Galaxy Backbone, on the other hand, will drive adoption within the public sector, providing secure, locally hosted data centre services that ensure compliance, reliability, and operational efficiency.
Commenting on the partnership, Sanjay Vaswani, Director at Simba Infrastructure said: ”Simba is pleased to mark this first phase of collaboration, with a long-term vision of deploying fully localized, AI-driven technologies that enable developers to build and scale using Naira-based solutions.
“While Aminu Usman, Profit Centre Head at Simba Infrastructure tressed on the fact that partnering with Galaxy Backbone will marks a significant milestone in our mission to deliver innovative, cloud-based communication solutions to Nigerian organizations.
“By combining Galaxy Backbone’s robust infrastructure and strong public sector presence with Simba’s customer-centric approach and technological expertise, we are creating a powerful platform to drive digital transformation and business growth.”
Also speaking, the GM Strategic Partnerships & Regional Business, Galaxy Backbone Limited, Abdul-Malik Suleiman noted; “Galaxy Backbone remains committed to advancing digital inclusion, secure communication, and reliable ICT services across Nigeria. Our partnership with Simba Infrastructure strengthens our ability to deliver innovative, locally hosted Unified Communications and Call Centre solutions that will benefit both public and private sector organisations.”
This partnership underscores a shared commitment to advancing Nigeria’s digital transformation agenda by equipping organisations with the tools to enhance collaboration, streamline communication, and improve customer experience—while ensuring that critical data remains securely hosted within Nigeria.
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