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How NECLive’s ₦1.3 Billion Investment Bolstered Nigeria’s Entertainment Industry

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Nigerian Entertainment Conference (NECLive) has released its highly anticipated report on the growth, trends, and opportunities in the Nigerian creative and entertainment industry.

It sheds light on the development and economic boom in Nigeria’s entertainment sector over the last ten years, as well as the prospects for the future of one of the continent’s fastest-growing industries.

According to the report produced by ID Africa and BHM Research & Intelligence, a startling ₦1.3 billion investment over ten years has stimulated the industry and helped it reach previously unheard-of heights.

Known for convening the most significant gathering of entertainment professionals, the NECLive report offers an extensive analysis of the extraordinary strides made in Nigeria’s entertainment and creative industries. Within this report, the conference also highlights its pivotal role and contributions in driving progress and advancement within the entertainment sector.

The report underscores how NECLive, through its ₦1.3 billion investment, has played a crucial part in shaping and propelling the industry forward, leaving a profound impact on Nigeria’s entertainment landscape, and significantly influencing its global standing.

Ayeni Adekunle, the conference’s convener, reflected on the journey and future plans, stating, “The inception of NECLive was rooted in the belief that the realm of possibilities knows no bounds; that with the right blend of education, networks, and determination, we have the power to accomplish anything we set our minds to.

“As Nigerian entertainers continue to shatter barriers and achieve unprecedented milestones, NECLive stands as a steadfast companion, guiding, inspiring, and reminding us that our potential is limitless.

“As we embark on the next transformative decade, be rest assured that NECLive has a renewed mission to embrace.”

Over the past decade, NECLive has emerged as a pioneering force, leading the charge in advocating for crucial matters within the entertainment industry.

Its unwavering commitment to driving positive change has encompassed key areas such as fostering talent development, combating piracy, advocating for enhanced regulations within the industry, ensuring access to global opportunities, and facilitating international collaborations.

Similarly, the Nigerian entertainment and creative industry has witnessed significant growth. According to the International Monetary Fund (IMF), the entertainment industry now accounts for 1.45% of Nigeria’s GDP.

Femi Falodun, a director at BHM and committee member of NECLive, emphasised the significance of the impact report by stating, “NECLive has consistently served as the go-to platform for spotlighting critical issues within the entertainment industry.

“Over the past 10 years, NECLive has brought together key stakeholders, including policymakers, investors, creatives, and technical experts, to collaborate and devise effective solutions.

“It is now time to unveil the remarkable impact that NECLive has made in driving positive change and advancement within the entertainment sector.”

One significant area of impact has been talent development within the entertainment industry, supporting workshops, training programs, mentorship opportunities, and nurturing the next generation of creative professionals.

Recognizing the growing significance of digital platforms in the entertainment landscape, it has also provided a platform for conversations that promoted digital streaming and profitable distribution of content. Since its inception, NECLive has remained at the forefront of driving progress and innovation in the entertainment sector.

Overall, NECLive’s investments have been comprehensive and diverse, covering film, music, comedy, and fashion. With over 100,000 participants and a reach of over 1 million people, NECLive’s initiatives, including conferences, workshops, advocacy efforts, and more, have driven positive change and remarkable growth in Nigeria’s entertainment landscape.

These initiatives have contributed to the remarkable growth and economic boom in Nigeria’s entertainment landscape, elevating its global standing and leaving a profound impact on the industry as a whole.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Visa Launches Report on Digital Payment Landscape in Nigeria, Shows Positive Outlook

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Visa, a global leader in payments, today announced the launch of a new report, ‘Value of Acceptance: Understanding the Digital Payment Landscape in Nigeria,’ which highlights substantial growth potential for digital payments, particularly among small and medium-sized enterprises (SMEs).

In Nigeria, digital payments are proving beneficial for surveyed SMEs, with nearly 90% believing that it boosts revenue and customer footfall. This growing confidence in digital transactions, especially cards, is coupled with a desire for further digitization, with 76% of cash-only SMEs planning to invest in new payment technologies.

The study also reveals that more than half of merchants already prefer digital payments, with 44% reporting lost sales due to customers’ lack of cash and 62% expressing concerns over fraud risk associated with cash.

Nigeria’s Digital Payments Momentum

An overwhelmingly positive outlook on digital payment investment emerged in the report, with 83% of merchants surveyed seeing this as a crucial component for growth, boosting sales, reducing fraud, and enhancing convenience among customers,
“Nigeria’s digital payments landscape is rapidly evolving, with a growing inclination towards digital transactions,” stated Andrew Uaboi, Vice President & Head, Visa West Africa.

“This transformation not only holds the promise of bolstering SMEs prosperity but can also help the economy to thrive.

“At Visa, we look forward to working together with our partners to further drive this transformation, enabling individuals, merchants, and businesses to grow and participate in the digital economy.”

Addressing Challenges to Unlock Full Potential

Unlocking digital payments’ full potential in Nigeria will require confronting key challenges. There is an overarching need to enhance financial literacy and raise awareness about the benefits of digital payments while also incentivizing their usage among customers.

With 76% of cash-only SMEs surveyed intending to get a point-of-sale (POS) device in the near future, an opportunity emerges to accelerate adoption through simplifying onboarding.

In addition, improving infrastructure to counteract concerns around payments failures (42%) can enhance confidence in digitization. To address fraud concerns, educational campaigns are vital to highlighting the robust security features of digital payments, especially the lower fraud risk associated with card payments.

Visa’s established cybersecurity capabilities can be instrumental to building trust across the digital payments landscape in Nigeria by helping to harness confidence across both the SME and consumer segments.

The Broader Value of Digital Payment Acceptance

Digital payments are crucial for Nigerian SMEs for a number of reasons including – boosting revenue through an increasingly cashless customer base, improving customer satisfaction with faster payments, and reducing operational risks by minimizing cash handling. Digital transaction records also provide valuable data that facilitate access to financing and stimulate growth.

While cash is still seen as quick and convenient, cards offer an advantage across expense tracking, spending encouragement, and enhanced security. Meanwhile, mobile and digital wallets offer an innovative and competitive edge. Promoting the adoption of preferred methods, particularly card payments, is crucial for driving growth.

Beyond direct benefits, digital payment adoption drives economic growth and financial inclusion, by connecting the unbanked to the formal financial system and enabling access to savings, credit, and insurance.

Research shows that the transition to the digital economy can generate 1-2% annual GDP growth; a mere 1% increase in card usage generates an average $67 billion annual increase in goods and services consumption across 70 countries and territories.

Visa: A Partner in Driving Digital Payment Adoption

Visa is uniquely positioned to support Nigeria’s transition to a more digital economy. As a trusted advisor and partner, Visa offers a range of capabilities to help governments, financial institutions, businesses, and technology providers enhance their digital payment acceptance maturity.

Visa’s suite of solutions includes programs for specific merchant segments, innovations like Tap to Phone, Contactless Payments and Click to Pay, and resources educating businesses about the benefits of digital payments.

About the Visa Value of Acceptance report

Visa’s ‘Value of Acceptance: Understanding the Digital Payment Landscape in Nigeria’ report, conducted by 4Sight Research & Analytics, examines the current state of digital payment acceptance, exploring both opportunities and challenges. The findings are based on face-to-face interviews with 250 SME owners/managers who are key decision-makers with respect to day-to-day business decisions.


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Gombe Commissioner of Police Visits GBB Command Centre, Strengthens Collaboration on ICT-Driven Security Solutions

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L-r : Ibrahim Bello, Regional Coordinator, North East, Galaxy Backbone(GBB) Limited, CP Bello Yahaya, Commissioner of Police, Gombe State. During the tour of GBB's state of the art Safe City, Command Centre in Gombe.
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Galaxy Backbone (GBB) Limited welcomed the newly appointed Commissioner of Police for Gombe State, CP Bello Yahaya, on a courtesy visit to its North East Regional Office and Safe City Emergency Command Centre.

This visit underscored the growing synergy between law enforcement and technology-driven solutions in strengthening security operations and fostering digital transformation in the region.

During the visit, CP Bello Yahaya was received by Mr. Ibrahim Bello, Regional Coordinator of GBB North East Regional Office, alongside key members of the GBB team.

The engagement provided a platform to explore strategic collaborations aimed at enhancing security infrastructure, digital transformation, and capacity-building initiatives for the Gombe State Police Command.

The Commissioner was taken on a guided tour of the Safe City Emergency Command Centre, a state-of-the-art facility that forms a critical part of the National Information and Communications Technology Infrastructure Backbone (NICTIB) project.

The centre plays a pivotal role in improving security architecture across Gombe State and the North East region, leveraging cutting-edge surveillance systems, real-time monitoring tools, and integrated emergency response mechanisms.

With its advanced Unified Communications System, security analytics, and digital emergency response coordination, the Safe City Command Centre provides law enforcement with real-time intelligence, proactive threat detection, and seamless inter-agency collaboration, enabling a more effective and responsive approach to public safety.

CP Bello Yahaya expressed keen interest in leveraging ICT solutions to strengthen policing efforts, emphasizing the importance of technology in modern crime prevention, data-driven policing, and crisis management.

He highlighted the need for enhanced digital transformation, improved connectivity, and expanded training programs to equip officers with the necessary skills to operate effectively in a digitally evolving security landscape.

Galaxy Backbone reaffirmed its commitment to supporting law enforcement agencies, government institutions, and critical stakeholders through innovative ICT solutions, secure cloud infrastructure, and digital training programs.

By providing access to high-speed connectivity, cybersecurity frameworks, and cloud-powered command centres, GBB continues to drive the adoption of smart policing solutions and enhanced security management across Nigeria.

The visit concluded with a shared commitment to deepening engagement between Galaxy Backbone and the Gombe State Police Command, focusing on optimizing digital transformation initiatives for law enforcement efficiency, expanding the scope of ICT-driven surveillance and emergency response systems and strengthening training programs for officers to enhance digital skills and operational effectiveness.

As Nigeria’s leading digital infrastructure provider, Galaxy Backbone continues to shape the future of public safety, digital governance, and cybersecurity, ensuring that law enforcement agencies have access to the best tools to protect lives and property.

 


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Salesforce Collaborates with Tech Leaders to Launch AI Energy Score for Model Efficiency

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Salesforce, in collaboration with Hugging Face, Cohere, and Carnegie Mellon University, announced the release of the AI Energy Score, a first-of-its-kind benchmarking tool that lets AI developers and users evaluate, identify, and compare the energy consumption of AI models.

Salesforce also announced it will be the first AI model developer to disclose the energy efficiency data of its proprietary models under the new framework.

The AI Energy Score aims to address the lack of transparency about the environmental impact of AI models. Similar to how ENERGY STAR transformed energy efficiency standards for appliances and electronics, this initiative establishes a clear, trusted benchmark for AI model sustainability.

“Reducing AI energy consumption lowers operational costs, optimises infrastructure, and enhances long-term sustainability and profitability. We are proud to work with industry leaders to build a more transparent AI ecosystem,” says Linda Saunders, Salesforce Country Manager and Senior Director of Solution Engineering for Africa.

The AI Energy Score will debut at the AI Action Summit, where leaders from over 100 countries, the private sector, and civil society will convene to harness AI for good. By enhancing transparency, the score can drive market preference for efficient models and incentivise sustainable AI development. Recognised by the French Government and the Paris Peace Forum for its transformative potential, the AI Energy Score features:

  • Standardised Energy Ratings: A standardised framework for measuring and comparing AI model energy efficiency.

  • Public Leaderboard: A comprehensive leaderboard that features scores for 10 common AI tasks — such as text generation, image generation, and summarisation — performed by 166 models, including Salesforce’s SFR-Embedding, xLAM, and SF-TextBase.

  • Benchmarking Portal: A platform where AI developers can submit their open or proprietary AI models to be evaluated and added to the leaderboard. Open models can be automatically tested, while closed models can be evaluated through a secured testing sandbox.

  • Recognisable Energy Use Label: A new 1- to 5-star label that rates AI model energy use, with five stars indicating the highest efficiency. This helps developers and users easily identify and choose more sustainable models. Once rated, AI developers can generate standardised labels to share their models’ energy score, with built-in guidance on the proper label display for visibility and impact.

Last year, the company introduced Agentforce, the agentic layer of the Salesforce Platform for deploying autonomous AI agents across any business function. Agentforce offers tools to build and customise agents, as well as a library of ready-to-use skills for sales, service, marketing, commerce, Tableau, Slack, and more.


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