Telecom
ICT Sector Accounts for Over $32 billion FDI Over the Last 15 Years- Shittu
Barrister Adebayo Shittu, Minister of Communication, over the weekend disclosed that Nigeria’s revolution in the ICT sector accounts for over $32 billion in foreign direct investment over the last 15 years.
The Minister noted that investments in infrastructure has produced an ICT backbone that powers various critical sectors of the economy such as Banking, E-commerce, Insurance, and Oil and Gas.
Speaking at the one-day conference themed ‘Africa-China Cooperation in ICT and Digital Economy’ in Abuja, organized by the Nigerian Institute of International Affairs in collaboration with the Embassy of China in Nigeria and Huawei Technologies Company (Nigeria) Limited, Shittu advocated the need for all stakeholders to strengthen the technology and innovation ecosystem.
He affirmed that the fortification and supporting the development of innovation hubs in partnership with the private sector will be beneficial to all.
“This conference provides the opportunity to jump-start the critical game-changing steps needed to make Nigeria’s objectives a reality in digital economy, he said
“Beyond this conference, we must work to strengthen relationships and knowledge management platforms towards building the better and more digital future that we seek.”
Lanre Osibona, Special Advisor on ICT to the Vice President, at the conference said that there is an urgent need to overcome challenges facing the nation to leveraging ICT to fuel the fourth industrial revolution that brings about digital economy.
According to him: “Africa must develop its skills. We must know how to scale workforce and move away from business base outsourcing to knowledge base outsourcing.
“Data is the future and new hope. For us as a country we must invest heavily in capturing data.”
Dr. Zhon Pingjian, Ambassador of China to Nigeria, on his part asserted that “China will continue to share its development opportunities with African countries and welcome them on board the train of China’s development.”
Tank Li, Managing Director, Huawei Technologies Nigeria, said a robust ICT infrastructure is the bedrock for digital transformation in Nigeria, and to unleash Digital Economy potentials in the country, issues of availability and affordability need to be addressed.
“In order to foster digital transformation of the economy, policies and programs to increase ICT infrastructure and ensure wide-spread coverage both in urban and rural areas should be prioritized to make voice and data services available.”
Li said “At the same time, strategic measures of infrastructure sharing, investment-friendly regulatory framework and preferential taxation policies are needed to reduce sites acquisition and broadband deployment costs in order to bring down the cost for users to really encourage application of ICT across the industries and the whole society.”
The conference featured discussions on policy issues with a view to propose a domestic approach to not only enhancing the strategic priority of ICT and penetration of fixed broadband, but also improving connectivity through cost-effective network deployment, and easing the development of local content such as e-commerce in accelerating economic growth.
A request by the stakeholders at the conference was made, for a framework and policies from the government that will foster broadband infrastructure development in Nigeria to help stimulate GDP growth.
A necessity to continue to collaborate with private sector and foreign investors that help to drive innovation for scaling ICT in Nigeria was also noted.
Digitization, widespread adoption of digital technologies and applications by Corporates, Government and Consumers, is beneficial for an emerging economy like Nigeria.
Google has launched its Search Live feature globally to over 200 countries, including Nigeria, where AI Mode is available, enabling voice-and-camera conversations in users’ preferred languages.
Powered by the new multilingual Gemini 3.1 Flash Live model, it delivers natural, real-time interactions via the Google app on Android or iOS—tap the Live icon under the Search bar.
Ideal for hands-free help, users can speak queries for audio replies, follow-ups, or web links. Camera integration adds visual context, like troubleshooting a shelving unit, or pairs with Google Lens for real-world chats.
From the app or Lens, Nigerians can now explore, learn, or solve tasks instantly, boosting everyday productivity worldwide.
Clean and reliable power for telecom networks in Ethiopia, Liberia, and Sierra Leone will be expanded following a $45 million investment by the International Finance Corporation (IFC) in IPT PowerTech.
The investment targets countries where limited power supply continues to slow digital connectivity and broader economic participation, the institution stated earlier this week.
To enable this expansion, the IFC is providing a $45 million corporate financing package consisting of an A-loan of $27 million and $18 million in blended finance.
The blended portion is sourced from the Canada-IFC Blended Climate Finance Programme and the IDA20 Private Sector Window Blended Finance Facility.
The initiative marks the IFC’s first direct infrastructure engagement in Liberia in a decade and in Sierra Leone in six years.
It will help scale solar- and battery-based power systems that reduce reliance on diesel and support greener, more resilient telecom networks.
By improving the quality and stability of power to telecom towers, the initiative will strengthen mobile coverage and ensure that households, schools, health centres, and small businesses can depend on consistent digital services, said the IFC.
The funding supports the modernisation, operation, and maintenance of 2 235 telecom sites across the three nations. More than 90% of these are located in off-grid or weak-grid locations.
With new solar and battery systems powering these sites, mobile networks will experience fewer outages and improved service quality.
Optimising the energy mix is estimated to reduce power costs for operators by up to 30% in Liberia, 26% in Sierra Leone, and 52% in Ethiopia.
This transition is also expected to cut emissions by more than 10 624 tonnes of carbon dioxide annually. Furthermore, the partnership will promote gender inclusion by expanding opportunities for women in technical, operational, and leadership roles within the sector, says the IFC.
This agreement reflects a shared vision for a greener telecom industry and empowers the company to scale its innovative energy platforms, according to Nabil Haddad, CEO of IPT PowerTech Group.
Reliable and affordable power for telecom networks is a cornerstone of Africa’s digital transformation, said Nathalie Kouassi-Akon, IFC regional director for West Africa and the Gulf of Guinea.
Through this partnership, the institution is supporting a scalable, private sector-led solution that enables mobile operators to reach underserved and fragile communities more sustainably, added Kouassi-Akon.
The project advances the World Bank Group and African Development Bank’s Mission 300 initiative, which aims to provide electricity to 300 million Africans by 2030.
Expedier has unveiled “Expedier for Business,” an online pro-banking platform to simplify global payments, multi-currency transactions, and financial operations for expanding companies.
Kingsley Madu
The tool centralizes payments, invoicing, payroll, and treasury into one secure dashboard, tackling challenges like fragmented systems and poor visibility that hinder international scaling.
Kingsley Madu, Co-Founder and CEO of Expedier, said: “African businesses are increasingly global… Expedier for Business was built to simplify how companies manage money across borders while maintaining visibility, control, and compliance.”
Key features include customizable dashboards for payments, invoices, and workflows; support for USD, CAD, GBP, EUR, and more; virtual cards; automated payroll/invoicing; currency swaps; and real-time tracking.
Security measures cover two-factor authentication, KYC/KYB verification, and team access controls.
As cross-border trade and remote work boom in Africa, the platform aids firms dealing with international suppliers, teams, and customers. It is now available for organizations scaling globally.
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