News
FG Plans to Spend N59Bn on Ex-Militants

The Federal Government plans to spend an estimated N59 billion on ex-militants, according to details of the 2014 Appropriation Bill presented to both arms of the National Assembly last week.
A breakdown of the figure showed that while N23.6 billion will be spent for payment of stipends to 30,000 ex-militants, another N35.4 billion is allocated for transformed ex-militants.
Daily Independent reported that the Presidency is to spend a total of N33.4 billion within the fiscal year, out of which N25.106 billion represents recurrent expenditure, while capital expenses is estimated at N8.39 billion.
A further breakdown of the Presidency’s budget shows that N320.222 million is for ‘honorarium and sitting allowance,’ N267.775 million for ‘welfare.’
The Economic and Financial Crimes Commission (EFCC) has been allocated N10.245 billion in the budget, comprising N8.838 billion, or 86.26 per cent recurrent expenses and N1.406 billion, or 13.72 per cent as recurrent.
The budget also made provision of N700 million for the proposed National Dialogue.
Allocation proposed for the Education sector increased to N493.45 billion of the total, which represented 10.6 per cent of the total 2014 budget proposal.
The Appropriation Bill, presented by Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, before both arms of the National Assembly, showed that N3.7 trillion, representing 72 per cent of the N4.6 trillion, is to be spent on recurrent expenditure, while N1.1 trillion was earmarked for capital projects.
This, according to analysts, does not tell of any plan for infrastructure development in the coming year. The document, they believe, failed to address critical needs of the country.
On the revenue side, the Bill proposed a Gross Federally Collectible Oil and Gas Revenue of N7.16 trillion while Non-Oil Revenue is projected at N3.29 trillion.
Out of the oil revenue, total deductions, including cost of crude oil production, subsidy payments, and domestic gas development is put at N2.15 trillion, the same amount as in 2013.
The Federal Government budget revenue is estimated at N3.73 trillion. Subsidy payments were maintained at the 2013 level of N971.1 billion.
On the fiscal balance side, the government projected that in the 2014 financial year, fiscal deficit would be about N911.96 billion, representing about 1.90 per cent of the GDP while total borrowing of N571 billion is proposed in the Appropriation Bill, representing a mere N6 billion decrease from the approved 2013 figures.
For Edwin Ikhinmwin, a financial analysts and former bank chief executive, the 2014 budget does not show any sign of helping to create jobs, which would ordinarily come through massive capital investment “needed to rejuvenate our dilapidated infrastructure and build new capacities to support job creating growth.”
Consequently, he told Daily Independent, a “budget document that provides only 27 percent for capital expenditure is a trip in self delusion and propagation of false hood. The weight of recurrent expenditure cannot be supported by the capital budget. This is symptomatic of a rent economy whose long-term growth is not sustainable.
It is like the winner of a lottery who changed his style to expensive consumption without investing in sustaining wealth creation. The money soon got finished and he became poorer than before.”
Olufemi Awoyemi, and analyst and Chief Executive of Proshare Nigerian, an online finance and economy portal, lamented the inequity in the distribution of spending in the budget.
He is particularly concerned that 72 per cent of the spending is earmarked for payment of salaries and wages to about 10 million workers or less than six per cent of the nation’s 174 million people.
Even under in the days of military, he lamented further, “capital expenditure never grew below 40 per cent of total budget… We just bloated the civil service with every many of hangers’ on and political jobber.”
Mallam Garba Kurfi, Managing Director, APT Securities and Funds Limited, told News Agency of Nigeria (NAN) in an interview in Lagos, that the Nigerian economy would not grow with the scant emphasis on capital expenditure.
Allocating a mere N1.1 trillion for capital expenditure is a child’s play, considering the nation’s huge infrastructure challenge, and that Nigeria needs capital expenditure for the economy to experience meaningful growth and development.
Sehinde Adenagbe, Managing Director, Standard Union Securities Limited, however expressed dissatisfaction with the late presentation of the budget, calling for quick passage of the budget, which he regarded as the “road map for economic activities”.
This, he said, would help companies in decision making on investment, since it is a pointer to the direction of the nation’s economy in the new year.
Harrison Owoh, Managing Director, HJ Trust & Investment Limited, also told NAN that the budget proposal failed to address critical sectors of the economy, and that it was indeed disheartening that bulk of the nation’s budget would be used for wage payment instead of capital projects.
He said that the Federal Government should be bothered about the sufferings of the masses and ensure the provision of basic social amenities.
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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