E-Business
FG to Create 1m Jobs on Digital Platforms

National Information Technology Development Agency (NITDA) is targeting the creation of about one million jobs through digital platforms between now and 2025, according to, Kashifu Inuwa Abdullahi of the agency.
Abdullahi who disclosed this during a virtual stakeholders engagement workshop in Abuja on the Draft National Outsourcing Strategy for Nigeria 2020-2025, said Nigerians and industry players should learn from how the world’s 25 richest billionaires have gained over $225 billion in just two months during the COVID-19 pandemic.
“Almost all of them leverage on the power of digital platform to get the whopping amount. Facebook CEO Mark Zuckerberg is the biggest gainer.
“He made almost $32.5bn in two months under lockdown and he has moved from the 7th richest person in the world in early April to the fourth-richest person today,” Abdullahi said.
The NITDA boss, who quoted Forbes Magazine to buttress his point, explained that the Federal Government would leave no stone unturned on the diversification of the economy, especially adoption of digital platforms to increase the country revenue earnings.
Abdullahi, who put the global business process outsourcing market size as at 2019 at a value of $221.5 billion, said it was expected to grow at a compound annual growth rate (CAGR) of 8.0% from 2020 to 2027.
COVID-19 is forcing organisations to cut bottom line cost. Therefore, many organizations will leverage on the benefits of outsourcing for some business processes and focus on core competencies, he explained.
He said: “With the recent government initiative to make Nigeria a leading digital economy coupled with the government promise to lift 100 million Nigerians out of poverty, NITDA under the supervision of Ministry of Communications and Digital Economy has refocused its effort to implementation of the National Digital Economy Strategy.
“This resonate with what is happening globally. Digital economy was emerging before covid-19 and now the crisis has made it more profound.”
He told participants at the workshop the strategy is predicated on fostering “institutional, legal, regulatory, technological and infrastructural environment for sustainable development and rapid growth of IT enabled outsourcing industry in Nigeria.
“And we targeting creating over a million jobs in Nigeria by 2025”, Mr Abdullahi said, adding that seven critical pillars, such as infrastructures, skill and human capital development, branding and promotion, digital finances and incentives, innovation and entrepreneurship, trust, privacy and security and multi stakeholders governance are on target to achieve the desired end.
Abdullahi urged the stakeholders to make inputs into the draft to facilitate robust document that would make Nigeria a better place for all and a force to reckon with in the global business outsourcing market.
E-Business
BPP Partners NDPC to Strengthen Data Protection

Dr Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), has reaffirmed the bureau’s commitment to data protection in Nigeria.
He disclosed this in a statement at the weekend by Zira Nagga, head of Public Relations, BPP, following a courtesy visit by a delegation from the National Data Protection Commission (NDPC).
Adedokun stressed that data protection is vital to Nigeria’s economy and development, particularly in areas such as demography, health, education, and other key sectors.
He emphasised that no country should leave its data unprotected, as it plays a crucial role in future planning and national development.
“Data governs the world. It is essential to technological progress and must be protected for a country or business to be taken seriously,” he said.
Adedokun described the visit, aimed at fostering partnership on data policy implementation and protection, as timely and aligned with national goals.
He said the BPP would collaborate closely with the NDPC to boost data development, capacity building, and enhance the procurement system.
“The BPP will support compliance as part of the ‘Nigeria First’ Policy, although it is not a core procurement eligibility requirement,” he explained.
He suggested a hybrid training model to help build strong capacity in data protection, privacy awareness, and policy understanding.
According to him, a dynamic training approach will reduce logistics costs and improve public confidence in data safety and privacy.
Dr Vincent Olatunji, CEO, and national commissioner, NDPC, praised Adedokun and the BPP for supporting data protection initiatives.
He said the partnership supports President Bola Tinubu’s vision and will strengthen data privacy across Ministries, Departments, and Agencies (MDAs).
“The collaboration will create awareness and train BPP staff to ensure a firm grasp of data protection principles and policies,” he stated.
Olatunji said the NDPC would establish a working group to finalise a Memorandum of Understanding beneficial to both institutions.
He added that President Tinubu signed the NDPC into law on 12 June 2023 to uphold citizens’ rights and protect national and business data.
Olatunji also noted that strict legal measures were in place to enforce data protection and ensure full compliance nationwide.
Both agencies agreed to form a team to sign the MoU and focus on capacity building and data management in procurement and beyond.
E-Business
FG Mulls Fibre Optic Layout to Bridge Internet Gaps

President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.
His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.
He said the fibre optic layout is part of other projects being embarked on.
“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.
“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.
He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.
In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.
The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.
Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.
It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.
E-Business
African Startups Raised $345m in Funding in May

African startups raised more than $345 million across 65 deals in May, more than double the amount raised in the same period of last year, according to a report by Briter, a research and business intelligence firm.
The report disclosed that both the number of deals and participating companies declined, confirming a growing trend of fewer companies raising funds in larger sizes.
It said fintech attracted the highest share of funding in May, accounting for 34 percent of the total, while cleantech followed closely, driven by a debt deal from Sun King. The company raised $80 million (in local currency) to expand clean energy access in Nigeria.
“Equity remains the primary instrument in terms of total value. There’s no doubt about it; in fact, equity deals with disclosed amounts captured more than half of the total funding volume in May.
“However, debt financing is increasingly proving its weight. Although it accounted for only 8 percent of all deals, it represented 32 percent of the total funding, highlighting the typically larger size of debt transactions. With the rise of specialised vehicles targeting early-stage businesses, debt is becoming an increasingly important part of Africa’s innovation funding landscape,” it said.
Briter’s report added that grants continued to play a vital role in early-stage support, especially in the education technology (EdTech) sector. The Mastercard Foundation led the pack in grant activity, funding a new cohort of EdTech innovators in Nigeria and Kenya. Each selected startup is set to receive $100,000 in grant funding, in addition to mentorship and business development support.
Multilaterals also made a strong showing in May, it said. The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, issued a $179.6 million guarantee to CleanTech firm KOKO Networks. The support will help scale its clean energy solutions across Kenya.
“This deal not only demonstrates growing international confidence in African climate ventures but also signals a promising pathway for other asset-intensive startups in clean cooking, agriculture, and renewable energy,” the report said.
From a geographic perspective, Egypt emerged as the continent’s fundraising powerhouse for the month, contributing 51 percent of all funding raised. The country recorded 12 deals across equity, debt, and bond instruments. Notably, FinTech platform MNT-Halan raised $50 million through a bond issuance, further illustrating the diversification of capital-raising mechanisms in the region.
Outside Egypt, funding was distributed across Africa’s three other key markets, which are Egypt, Nigeria, and Kenya, with limited activity recorded in countries such as Ghana, Tunisia, Morocco, and Uganda, each registering between one and three deals.
In terms of exits, the African tech landscape continues to mature. Three companies—Baobab+, Qardy, and Shopa—were acquired in May, bringing the total number of exits this year to 22. This already surpasses last year’s count for the same period. Qardy was acquired by Catalyst Partners Middle East (CPME) in a disclosed deal valued at $23 million, the report added.
- E-Financial2 days ago
Sterling Bank Pledges ₦2bn to Fully Fund University Scholarships
- Telecom2 days ago
MTN Nigeria Unveils CPaaS Platform to Transform Business Communication
- News2 days ago
China Expands Zero-Tariff Trade for Nigeria, 52 Other African Nations
- E-Financial3 hours ago
Fidelity Bank ED, Kevin Ugwuoke takes over as President of Risk Managers Association
- General News3 hours ago
Airtel Concludes Nationwide Environment Week with Market Clean-Up by Employees
- News3 hours ago
Adebayo Joins AFRINIC Board Race, Promises to Drive Africa’s Internet Expansion
- E-Financial3 hours ago
CBN Suspends Dividend, Bonus Payments for Banks under Forbearance
- E-Business3 hours ago
BPP Partners NDPC to Strengthen Data Protection