Telecom
Galaxy Backbone Partners Interra Network to Connect S/East and S/South with STORM ISP
Galaxy Backbone (GBB) and Interra Networks have officially launched an Internet Service Provider, codenamed STORM.ng, for the benefit of the South East and South South regions of the country.
The project, under the Nigeria National Information and Communication Technology Infrastructure Backbone (NICTIB) Phase I, was launched in Enugu State on Tuesday.
The GBB and Interra Networks, through STORM, would cover Enugu, Ebonyi, Owerri, Port Harcourt, Awka, Onitsha and Asaba under its national fibre roll out programme.
Dr Isa Pantami, minister of Communications and Digital Economy, at the launch of the project expressed delight with the unveiling of STORM as a fibre connectivity and digital services platform powered by GBB, which aligned with the vision of the present administration.
The minister, who joined virtually, explained that STORM would open up massive opportunities for corporates, small businesses and for homes looking to improve the quality of internet services in those regions.
“I would like to congratulate Galaxy Backbone and its project partners for achieving this great feat, which will provide fast and efficient delivery of Internet and hosting services for the South-East and South-South regions.
“Since 2019, the Federal Ministry of Communications and Digital Economy has championed the country’s digital transformation agenda in efforts to position it as one of the leading Digital Economies in the world.
“To achieve this aim, we developed the National Digital Economy Policy and Strategy (NDEPS) (2020-2030) with the clear vision ‘to transform Nigeria into a leading Digital Economy providing quality life and digital economies for all.”
He said the mission was “to build a nation where digital innovation and entrepreneurship are used to create value and prosperity for all.”
He, however recalled that STORM initiative was in line with the National Digital Economy Policy for a Digital Nigeria (2020 – 2030).
Pantami added that STORM was a significant milestone in support of the Federal Government’s efforts to accelerate broadband penetration across cities and underserved communities in the country.
He expressed optimism that Digital Services would expand and strengthen development since Nigeria was endowed with enormous potential.
He congratulated GBB and Interra Network teams for putting the launch in place and urged them to work together in order to ensure wealth and prosperity was expanded in the nation.
“In particular, it supports the implementation of Pillar 3 (the Solid Infrastructure Pillar). It is also in alignment with the Nigerian National Broadband Plan (2020 – 2025).
“Broadband connectivity plays a major role in the economic fortunes of countries around the world.
“A 10 per cent increase in broadband penetration can lead to growth in Gross Domestic Product in the region of 0.6 per cent to 2.8 per cent.
“Furthermore, the use of broadband technology goes beyond facilitating socialisation.
“Rather, it supports key sectors of the economy, such as the Micro, Small and Medium Enterprises (MSMEs).
“These enterprises are a critical part of the Nigerian economy and broadband access enables them to extend their services beyond their physical locations through the use of e-commerce platforms.
“It will support government’s effort in meeting the target of the NNBP, which aims to achieve a 90 per cent broadband penetration by 2025.
“Through platforms like STORM, we are extending the provision of internet services beyond major cities in the country, thereby deepening broadband penetration across the country to overcome the existing digital divide,” he said.
Recall that Galaxy Backbone had deployed fibre optics to 17 major cities across the federation under the first phase of NICTIB.
Prof. Mohammed Abubakar, managing director of GBB, said the plan to launch the project in year 2020 was aborted by the COVID-19 pandemic.
Abubakar, who also joined virtually, expressed optimism that with the official launch of STORM, GBB and Interra Networks were ready to unleash broadband services to organisations and homes in South East and South South.
He informed that STORM would bridge the notable gaps in the market in terms of reliable internet service.
According to him, change is the only constant thing in life and as people living in a fast changing digital world, I am sure you all know how important it is to ensure we embrace change,
“So, that we are not left behind at the speed of light transformations taking place all around us.
“We are confident that by making fast and reliable internet services available in urban and rural communities, greater number of job opportunities will emanate and we can lift more people out of poverty.
“History has shown that in every major pandemic, one or two sectors begin to thrive and lead to the transformation of the lives of entire communities and indeed the world.
“In this case, Digital Technology has taken centre stage, especially in Nigeria, where we have observed its great contributions to the GDP of our country in the last quarter of the year 2020.
“We are not unmindful of the strides recorded by most of our competitors in this industry.
“We are confident that the broadband internet connectivity and hosting service being offered by STORM will lead to an experience that you will find efficient, reliable and with great support.”
Speaking on ‘”Partnering to Serve: The Storm Value Proposition”, Mr David Onu, president, Interra Networks, , said that the service would enable greater youth participation in technology and digital economy drive.
According to Onu, ICT is considered to be the new oil worldwide and it is very interesting to see that just 15 years ago, the top six companies were oil companies.
“Today, those companies are no more in the top 10. The only one that has broken the top 10 record is the Exxon Mobil.
“And you ask yourself what has made it so. What have made it so are the IT services and data.
“It is something interesting, taken away from the corporate world and countries that were considered to belong to the third world 20 years ago.
“It is interesting to see how they have erased their poverty index; by empowering people, creating jobs and creating wealth.”
He, however bemoaned the misnomer in Nigeria, which was excessive reliance on natural resources, adding that the biggest strength had been intellectual resources.
“What has been going on today in the country is that silent revolution and it will soon take the country by storm with the engagement of our young people in technology.
“We hear of our young people getting investments from companies outside the country to expand; we hear of services that are being used Africa-wide and worldwide and we haven’t even started.
He hinged the launch of STORM on the harnessing of the capacity of young people and businesses in the regions to boost the economy.
Dignitaries present at the event included: Mr Osita Chidoka, former minister of Aviation; Sir Carl Obi Kama, commissioner, Enugu State Ministry of Science and Technology; Prof. Boniface Nworgu, commissioner, Imo State Ministry of Science and Technology.
Others were Rocky Ighoyota, director of ICT, Delta State Ministry of Science and Technology; Abdul-Malik Suleiman, group head, Regional Offices, Galaxy Backbone; Tope Dele-Oni, head, Regional Business & Operations, Galaxy Backbone (Lagos and South West), among others.
The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.
NITRA
The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.
Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.
Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.
According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.
It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.
The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.
The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria
The board of global payments company, PayPal, says a 53 billion dollars takeover offer from financial technology firm, Stripe, and private equity company, Advent International, does not adequately reflect the company’s long-term value.
PayPal
According to reports, the proposed acquisition, valued at 60.50 dollars per share, remains under consideration, with the board yet to formally respond to the offer.
The directors are said to be evaluating not only the financial value of the proposal but also the structure of the financing, the timeline for completing the transaction and the likelihood of obtaining regulatory approvals.
They are also considering the possibility of competing bids emerging.
Although the offer represents a premium of about 28 per cent above PayPal’s recent share price, the board believes the company could deliver greater value to shareholders if its ongoing turnaround strategy succeeds.
Following reports of the bid, PayPal shares gained about two per cent to close at 56.73 dollars.
Sources familiar with the discussions said Stripe and Advent have secured approximately 50 billion dollars in debt financing from JPMorgan and Morgan Stanley, while both firms would jointly contribute 17 billion dollars in equity.
Under the proposal, the two companies would jointly own PayPal instead of dividing its operations.
PayPal, Stripe, Advent International, JPMorgan and Morgan Stanley have all declined to comment on the proposed transaction.
The discussions come as PayPal seeks to strengthen its business after years of increasing competition from rivals including Apple Pay, Google Pay and emerging financial technology firms.
The company, which was valued at about 360 billion dollars in 2021, now has a market capitalisation of approximately 36 billion dollars.
Since assuming office as Chief Executive Officer in March 2026, Enrique Lores has embarked on a restructuring programme aimed at improving operational efficiency and restoring growth.
The restructuring includes the creation of three business divisions comprising Checkout, Venmo and Consumer Financial Services, and Payments and Crypto.
The company is also targeting 1.5 billion dollars in cost savings through the deployment of artificial intelligence technologies.
PayPal’s latest financial results indicated signs of recovery, with first-quarter revenue rising seven per cent year-on-year to 8.35 billion dollars, while total payment volume increased by eight per cent to 464 billion dollars.
If approved, the transaction would combine two of the world’s largest digital payments companies.
The combined business would process an estimated 3.7 trillion dollars in annual payment volume, significantly strengthening its position in the global online payments market.
However, analysts expect the proposed acquisition to face intense regulatory scrutiny because of the companies’ combined market share in merchant payment services.
To address possible antitrust concerns, the bidders have reportedly considered options, including separating PayPal’s Braintree business or other assets if required by regulators.
Sources said Stripe and Advent remain interested in pursuing the acquisition despite the board’s reservations, although negotiations are expected to continue.
Market observers are also awaiting PayPal’s earnings report scheduled for July 28 for further indications of the company’s financial recovery and future growth prospects.
Concerns over network reliability and its impact on Nigeria’s growing creator economy took centre stage at MTN Nigeria’s Data on Trial event, where content creator and streamer, Jarvis, challenged telecommunications operators to improve connectivity for digital creators.
Speaking during the event, Jarvis asked whether there were locations in Nigeria where uninterrupted internet connectivity could support real-life (IRL) streaming without network disruptions.
“Are there places where there is no breakage when streaming IRL?” she asked.
Her question highlighted the challenges faced by content creators who depend on stable internet services for live streaming, content uploads and real-time engagement with audiences.
Responding, MTN Nigeria’s Chief Technical Officer, Mr Yahaya Ibrahim, said network performance depends on several factors, including location, network coverage, device capability and the number of users connected to a particular base station.
He noted that operators continue to invest in expanding network capacity to meet the growing demand for data services.
Earlier, MTN’s General Manager, Network Performance and Quality Assurance, Mr Michael Ndukwe, explained the evolution of mobile network technology in Nigeria, from first-generation (1G) services to the current fifth-generation (5G) technology.
According to him, each phase of technological advancement has significantly increased network capacity and enabled new digital services.
Ndukwe cited Nigerian Communications Commission (NCC) data showing that Nigerians consumed about 13.2 million terabytes of data in 2025.
He added that data usage reached approximately 4.06 million terabytes in the first quarter of 2026, reflecting the country’s increasing reliance on digital platforms and online services.
According to him, the growth is being driven by wider adoption of 4G and 5G networks, increased smartphone penetration, the proliferation of smart devices and expanding use of social media platforms.
Participants at the event noted that as more Nigerians build businesses and careers around digital content, access to reliable and high-speed internet has become critical to sustaining the country’s digital economy and creator ecosystem.
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