News
FG to Spend Additional $3.1bn on Digital National Identity
Vice President Yemi Osinbajo, yesterday in Abuja, said the Federal Government required additional 3.1 billion US dollars to achieve digital national identity for all citizens.
Osinbajo disclosed this at the Stakeholder Workshop on Strategic Roadmap for Digital Identity, Eco-system in Nigeria.
The VP, represented by his Senior Special Assistant to the President on ICT, Mr Lanre Osibona, said a World Bank research of 2015 showed that Nigeria spent 1.2 billion US dollars since the 1970s on the project
He explained that the digital identity ecosystem was aimed at having a basic data of all Nigerians, which could be built upon by the functional identity stakeholders.
“This is over two years of relentless effort to get to where we are today, the issue and challenges to ensuring a successful national identity are many and they must be addressed collectively.
“However, one thing I can assure you of is that funding has never been one of those challenges.
“According to World Bank research in 2015, Nigeria spent 1.2 billion dollars since the late 1970s but much work remains undone.
“We are projected to spend an additional 3.1 billion US dollars, if we are to follow the existence approach of developing identification in Nigeria.
“The incredible benefit of this programme is at stake and we must get it right this time,’’ Osinbajo said.
The vice president said further that the major challenge facing identity programme was the lack of a working record system and practical approaches.
He said changes had been made to the process of enrolling on the digital national identity to ease the procedure, which included reduction of identity attributes from 75 to 10.
Osinbajo emphasised on the gains of the digital identity number, stating that the Federal Road Safety Corps (FRSC) would easily enforce traffic offences through unified identity system.
He added that bank transaction would also become easier, saying that the benefit derivable from the technology cannot be quantified.
He said: “it covers over all security benefits in an environment of current anonymity’’.
Mr Aliyu Aziz, Director-General, National Identity Management Commission (NIMC), had called for collaboration among agencies handling data to help actualise the eco-system approach of national identity.
He said the digital identity was meant to give every Nigerian a unique identity, boost development and promote security in the country.
“The plan of giving every Nigerian a unique identity within a period of three to five years programme can only happen if we all work together.
“Nigeria is a very special country where people without identity live well and eat three square meals and there has been a lot of issues related to this identity.
“Policies developed must be articulated and refined in such a way that government agencies will work together, share infrastructure and investment to serve their customers who are potentially the same citizens and residents.
“We should give Nigeria a world class identity management, infrastructure, which will boost security and socio-economic transformation,’’ he said.
Also, Mr Mahmood Mohammed, Chairman, House Committee on National ID commended the Federal Government for the huge amount spent on the project so far.
Mohammed, therefore, assured the stakeholders of the National Assembly’s support in actualising the digital national identity.
He also called on similar agencies to work together and ensure a unified database and identity for Nigerians.
Entrepreneurs backed by the Tony Elumelu Foundation (TEF) have generated more than $4.2 billion in cumulative revenue since the organisation began its grant programme in 2015, according to Somachi Chris-Asoluka, chief executive officer of the foundation.
Chris-Asoluka, revealed this during a virtual media briefing, where she also stated that over $100 million has been distributed to nearly 24,000 young entrepreneurs across Africa.
She noted that the beneficiaries of the programme have gone on to create about 1.5 million jobs, both directly and indirectly, across various sectors of the continent’s economy.
The performance, she said, has strengthened the resolve of the foundation and its partners to scale up financial support for emerging businesses.
Chris-Asoluka emphasised that the foundation’s interventions are anchored on the conviction that entrepreneurship is central to reducing poverty and reshaping Africa’s economic future.
She explained that selected participants receive a $5,000 seed capital grant, in addition to structured business training and mentorship designed to help them either expand existing enterprises or establish new ones.
Highlighting operational challenges faced by entrepreneurs, she identified inadequate electricity supply as a major constraint.
According to her, many small businesses spend as much as 60 per cent of their earnings on alternative power solutions, including generators and inverters.
To mitigate this challenge, she disclosed that Tony Elumelu, TEF founder, alongside the foundation’s leadership, has been engaging governments across Africa on the urgent need to improve power infrastructure.
She further stated that investments by programme beneficiaries cut across critical sectors such as agriculture, artificial intelligence, manufacturing, and technology innovation.
Chris-Asoluka also announced that the foundation’s 2026 cohort of entrepreneurs will be formally unveiled by Elumelu in Abuja.
A new financial operations platform, Morney, has officially launched in Nigeria to help businesses face growing pressure to digitise their finance processes as the country’s shift towards electronic invoicing.
Developed by Morzoe Technologies Inc. and introduced locally through its partner, BuySimply Services Limited, the platform is designed to help organisations streamline and automate financial workflows.
Speaking at the launch, Head of Growth at BuySimply, ‘Mide Olubi, said many Nigerian organisations still depend on fragmented systems such as emails and spreadsheets to manage expenses, supplier invoices and payments.
According to him, this approach often results in inefficiencies, delayed processes, weak oversight and a higher risk of errors.
He noted that Nigeria’s increasing adoption of electronic invoicing and tax digitisation frameworks is accelerating the need for structured and transparent financial systems. Businesses, he said, must move away from manual processes and adopt platforms that provide clear visibility into financial operations.
Morney integrates payments, procurement, expenses and invoicing into a single system, enabling finance teams to automate approvals, monitor transactions in real time and maintain accurate records.
The platform also supports supplier onboarding and invoice processing, helping organisations better manage operational spending.
The company revealed that businesses across sectors such as FMCG, manufacturing, energy, banking and telecommunications are already adopting the solution to improve efficiency and strengthen financial control.
It added that the partnership with BuySimply reflects a broader trend of digital transformation, as organisations respond to evolving regulatory requirements and the demand for more efficient financial management systems.
Dr Krishnan Ranganath (Krish) to Lead UniCloud Africa in Continental Digital Infrastructure Push
UniCloud Africa Limited, the premier pan-African cloud platform dedicated to advancing the continent’s digital sovereignty, has announced the appointment of Dr. Krishnan Ranganath as its Chief Executive Officer.
Dr. Krish, a seasoned industry leader known for building and scaling digital infrastructure while maintaining rigorous operational excellence, steps into the role as UniCloud Africa accelerates its mission to redefine the continent’s digital landscape.
The appointment coincides with the groundbreaking launch and immediate availability of UniCloud Africa’s enterprise-grade Sovereign Cloud and Artificial Intelligence (AI) infrastructure across six key markets: Nigeria, Ghana, South Africa, Zambia, Senegal, and Mozambique, even as it plans to launch in Kenya, Tanzania, DRC, Uganda, Ethiopia and Côte d’Ivoire as part of further continental expansion.
Operating under the mission of “One Cloud, One Africa,” UniCloud Africa provides governments and enterprises with a world-class, fully compliant sovereign cloud alternative to high-latency offshore providers,ensuring a robust, scalable foundation tailored to Africa’s unique environmental and economic needs.
“UniCloud sits at the epicentre of Africa’s cloud evolution. We are committed to deploying 100% sovereign infrastructure across the continent. My focus is on driving high-growth partnerships and scaling the next generation of resilient, sustainable cloud infrastructure to accelerate the evolution of the African digital ecosystem,” said Dr. Krish, CEO of UniCloud Africa Limited.
He disclosed that his focus at UniCloud Africa is on driving high-growth partnerships and scaling the next generation of resilient, sustainable cloud infrastructure, and will deploy GPUs in certain economies based on market potential and need.
While admitting that the challenges from AI integration to the green energy transition are immense, Dr Krish believes that the opportunities are greater. “I am eager to collaborate with our partners and customers to redefine the digital frontier and accelerate the evolution of the African digital ecosystem,” he added.
Ladi Okuneye, Co-founder and outgoing CEO (who remains as a director on the board) remarked: “As we enter this new chapter of growth, I am confident that Dr Krish’s extensive experience in the African digital landscape will add immense value. His technical depth and regional insight make him the ideal leader to drive UniCloud Africa forward.”
Before he was appointed CEO of UniCloud Africa, Dr. Krish was, until last month, the Regional Executive – West Africa at the Africa Data Centres (ADC).
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