Telecom
FG Plans to Launch Additional Satellites in Space- Onu

Federal government has said it is now more determined put additional satellites in the orbit to enhance the realization of its developmental agenda for space technology.

Dr. Ogbonnaya Onu, minister of Science and Technology
Dr. Ogbonnaya Onu, minister of Science and Technology, made the pledge at the 2020 edition of Space Dialogue and National Media Conference on Space Science and Technology held at the Obasanjo Space Centre, Airport Road, Lugbe, with the theme: Potency of Space Dependent Technologies in Driving Good Governance and Eliminating Corruption in Post COVID-19 Era.
The Minister said the administration believes so much in the ability of science and technology in the Transformation of the Nigerian economy from a resource-based to a knowledge-based economy and has proven same through the much needed supports rendered to the development of science and technology ministry and its agencies in the country since inception.
He said the administration has introduced five additional policies in the last five year and if implemented, especially the Executive Order No 005, Nigeria will achieve what China has achieved in shortest time.
“We will make sure additional satellite are put in the orbit. I assure you that the ministry will continue to do the best it can to ensure that additional satellites are put in the orbit that will help in the direction the nation is going.
“Without space science and technology, it will be very difficult for Nigeria to compete with the rest of the world. We should aim to be the best in the world and this is achievable. We are prepared to make NARSDA to compete with best space agencies in the world.
“We have introduced five additional policies in the last five year and if implemented, especially the EO 005, Nigeria will achieve what China has achieved in short time.”
Dr. Onu, who admitted that NARSDA made mistake in staff recruitment promised that the Ministry would ensure sanity in the agency for optimal delivery of its mandate.
“I agreed to mistakes made by NARSDA in the recruitment of staff, but we are determined to correct the mistakes done in NARSDA.”
In his goodwill message, Sen. Ajayi Boroffice, chairman, Senate Committee on Science and Technology, frowned at what he called wrong employment at NARSDA and called on the ICPC to thoroughly scrutinize the anomaly to enable the agency achieve its set goals.
Sen. Ajayi said it was wrong for such a sensitive agency to have 80% support staff as against 70% engineers and scientists that are needed to carry out researches and innovative studies in line with the
“The space agency today is really the shadow of what we thought it would be. The reason is because we have wrong employment.
“How can we be taking people with religious, Islamic studies in space centre? Space centre is means mixed staff application, employment. Where support staff constitute 80% of work force is wrong. We need engineers and scientists to constitute 70% of the workforce. But the reverse is the case.
“I learnt that the ICPC is around, scrutinizing employment documents. It is sad to have 2 -2.5m staff. We have to reexamine ourselves, and sanitize the space agency, so that we can achieve the purpose for which it was set up.”
He charged Dr. Francis Chizea, acting DG of the agency, who he said was part of the dream of the agency at onset to pursue it with vigor and interpret it fruition.
“I challenge you with dedicated staff to actualize the dream and mandate of the agency. We can re-orientate NARSDA to what it should be. Right now, I don’t think I am happy. The space agency has nosedive, the trajectory is disastrous. We have to get it right now.
“I thank God we have a president that believe in science and technology. We have to keep pace to be in space.”
He further challenged the staff of the agency to sit up and move the agency to where it should be, saying that 90% of human challenges can be solved in space if deployed.
Mr. Leo Stan Ekeh, keynote speaker, said the challenge facing the space agency does not lie in funding but in application.
He charged the Federal government to anticipate into the future by investing more in the space technology to be able create the needed job opportunities and wealth and also compete at the global space.
According to him, space technology holds the key to empowering the citizens and until government put the structure in place and build the culture, the benefits will continue to elude the country.
Ekeh further challenged the Federal government to earmark special fund for building cost effective satellites that would absorb many enterprising youths to become future billionaires.
Speaking on security, he chided the security agencies for relying on physical combat, insisting that the war against insecurity cannot be won by guns and bullets but by technology war fare.
The Zinox chairman regretted that Nigeria is the country in the world where technology people are not the richest and posited that the only way for Nigeria to succeed in post-COVID era is to leverage space science and technology.
Earlier in his address, the Acting Director of NARSDA said that the dialogue was aimed at stimulating robust intellectual discourse on critical issues of national and global interests, particularly on the successful implementation of the Nigeria Space Agenda.
He informed that the agency now boast of seven activity centres of excellence and fix research laboratories located in various geo-political zones of the country for various important researches that affect all facets of human life and strategic to national development.
“NARSA remains irrevocably committed to her resolve to deploy the capabilities of space science and technology for the improvement and betterment of the life of the ordinary Nigerian and for the greatness of the country.
“It has become evident that the utilization of certain emerging technologies such as space dependent technologies provides the modern and basic approach to revolutionalise tee way in which operations are conducted at the local and national levels in our environment.”
Telecom
Legend Internet Reports Losses despite N505m Revenue

Legend Internet Plc has reported a loss for the six months ended January 31, 2026, as rising operating costs and finance charges weighed on earnings, according to its latest management financial statements filed on the NGX platform.

The company posted revenue of N505.36 million for the period, down from N622.64 million recorded in the corresponding period of 2025, reflecting a contraction in topline performance.
Despite generating a gross profit of N322.99 million, Legend Internet’s profitability was eroded by elevated administrative expenses, which surged significantly to N457.62 million from N166.78 million in the prior year.
This drove the company to an operating loss of N134.63 million, compared to an operating profit of N244.55 million a year earlier.
Finance costs further pressured the bottom line, rising to N64.71 million, while interest income provided only a limited offset.
Consequently, the company recorded a loss after tax of N99.34 million, a sharp reversal from the N239.85 million profit posted in the same period of 2025.
Earnings per share also declined into negative territory, closing at a loss of 11 kobo compared with earnings of 12 kobo in the prior period.
A review of the company’s financial position showed total assets increased to N3.45 billion as of January 2026, up from N3.21 billion in July 2025, driven largely by growth in cash and cash equivalents and receivables.
However, shareholders’ funds weakened to N2.55 billion from N2.80 billion, reflecting the impact of the reported loss and dividend payments.
Cash flow analysis indicates that net cash used in operating activities stood at N237.48 million, highlighting liquidity pressure in the core business.
This was partially offset by financing inflows, including loans, which helped lift cash balances during the period.
Further breakdown showed personnel costs rose markedly to N153.50 million, underscoring increased staff-related expenses, while depreciation and amortisation charges remained significant due to ongoing investments in network infrastructure.
The results underlined the pressure on smaller telecom and internet service providers navigating high operating costs, currency volatility, and infrastructure demands within Nigeria’s competitive digital services market.
Telecom
Airtel Africa Records Strong Market Gains, Strengthening Investor Trust

Airtel Africa has emerged as the standout large-cap performer on the Nigerian Exchange (NGX), recording a 10 per cent gain in a single trading week and reinforcing its position as one of Africa’s most resilient and valuable telecommunications companies.

The telecoms giant closed the week at ₦3,655.70 per share, up from ₦3,323.40, making it one of the strongest contributors to market performance during a period characterised by selective investor activity and sector rotation.
The strong performance reflects growing investor confidence in Airtel Africa’s business fundamentals, diversified revenue streams, and long-term growth strategy. Analysts note that the company continues to attract attention from investors seeking stable, high-quality stocks capable of delivering sustainable value despite ongoing macroeconomic uncertainties.
Unlike many of the week’s gainers, whose performance was largely driven by speculative trading and short-term market positioning, Airtel Africa’s rise was underpinned by confidence in its operational strength and strategic importance within the telecommunications sector.
Market watchers have identified Airtel Africa as a preferred investment destination due to its strong earnings profile, extensive regional footprint, and exposure to foreign currency-linked revenue streams. These factors have helped position the company as a key stabiliser within the NGX, particularly at a time when investors are increasingly selective in deploying capital.
The company’s performance also highlights the growing importance of telecommunications firms in driving economic growth and digital transformation across Africa. Through continued investments in network expansion, digital services, enterprise solutions, and financial inclusion initiatives, Airtel Africa remains at the forefront of enabling connectivity and economic opportunity for millions of people across the continent.
Beyond its stock market performance, Airtel Africa continues to strengthen its position through investments in digital infrastructure, mobile financial services, and technology-driven solutions that support businesses, governments, and communities. These initiatives have become increasingly important as demand for connectivity and digital services continues to accelerate across Africa.
Airtel Africa’s latest performance underscores confidence in the company’s long-term prospects and its ability to create sustainable value for shareholders. The milestone also reflects the market’s recognition of Airtel Africa’s role in shaping Africa’s digital future through innovation, connectivity, and inclusive growth.
With telecommunications remaining a critical enabler of economic development, Airtel Africa’s strong showing on the NGX serves as another indicator of the company’s continued momentum and leadership within the sector.
Telecom
AVEVA Brings AI, Digital Twin Revolution to Nigeria’s Industrial Sector

AVEVA, a global leader in industrial software, will host the first edition of AVEVA Day Nigeria, on 11 June 2026 at the EKO Hotel, Victoria Island, Lagos.

AVEVA
Built around the theme, “Driving the Transformation: Leveraging Digital Technologies and AI to Achieve Operational Excellence, Increase Efficiency and Reduce Emissions,” the one-day event will bring together industry leaders to discuss how AI, Digital Twin, and cloud-native industrial platforms are transforming the design, construction, and operation of assets.
The event will host AVEVA leadership, technical experts, customers, ecosystem partners, EPCs, and decision-makers from across Nigeria’s energy and process industries.
Nigeria’s industrial sector is entering a new phase with operators under pressure to improve operational reliability, cut emissions, and unlock gas monetisation opportunities cost-effectively. Digital technologies have emerged as a key enabler of this balancing act.
The International Energy Agency’s Africa Energy Outlook highlights the growing role of AI and digital tools in balancing Africa’s energy ambitions with its sustainability goals. At the same time, initiatives such as the African Union’s Digital Transformation Strategy for Africa (2020–2030) and Nigeria’s National Digital Economy Policy and Strategy are helping create the foundation for wider adoption.
Khaled Salah, Vice President – Africa, AVEVA, said: “Nigeria’s industrial economy is one of the most dynamic industrial markets in the EMEA region. As industries navigate growing demands around efficiency, sustainability, and resilience, technologies such as digital twin, industrial AI, and connected ecosystems are becoming central to transformation strategies. Through AVEVA Day Nigeria, we want to bring our global expertise closer to local industry leaders and demonstrate how the convergence of AI and industrial software can help local enterprises compete, and lead, on the world stage.”
Hanno Van Niekerk, Market Leader – Sub Saharan Africa, AVEVA said: “Nigeria has the scale, resources, and industrial ambition to become one of the leading energy and industrial hubs in the region. With continued investments in power infrastructure, and industrial development, the country is well positioned to drive long-term economic growth and strengthen energy access across Africa. At AVEVA, we are proud to support this journey by helping organisations leverage digital innovation to enhance operational performance, accelerate transformation, and advance sustainability goals.”
The event will begin with a welcome note from Khaled Salah, followed by a keynote from Gaurav Panpaliya, Enterprise Architect, AVEVA, on how AI-enabled Digital Twins are guiding industries towards autonomous, sustainable operations, supported by examples from global energy companies.
It will also feature interactive round table discussions hosted by Gururaj Purohit, structured around three focus tracks – Design & Build track, that will engage EPCs, capital project teams, and engineering companies, the Operate & Optimise track covering enterprise visualisation, process optimisation, asset reliability, AI/ML-based predictive analytics, and Predictive Asset Optimisation (PAO) and the IT/OT and Data Management track, focusing on the CONNECT industrial intelligence platform and how it underpins next-generation industrial operations.
Attendees will get a chance to explore the full scope of AVEVA’s industrial intelligence capabilities through a series of focused technical and industry sessions along with dedicated customer and partner presentation slots throughout the day.
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