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E-Business

Local Content Development: A Bridge to Unemployment & Diversification

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Nigeria is currently at an interesting crossroad in its economic journey. The country’s apex bank, the Central Bank of Nigeria is implementing policies to counter the effect of the reduced forex inflow into the country as a result of the global crash in the price of oil – the country’s major export.

Some of those policies include placing limitations on individual and corporate overseas spending and shrinking the size of the secondary market for foreign exchange in a bid to wield more control over the demand and the supply chain for forex.

The import of this (pun unintended) is scarcity of foreign exchange which has led to unusually high rates in the secondary market.

Import items such as cars have been negatively affected by this policy and overseas trade where the average Nigerian has to change local currency to make dollar payments is taking a bashing.

While it is not all doom and gloom is that in the undergrowth of all these macro-economic issues, local manufacturing and local trade is getting some breathing space away from the stifling presence of imported goods which constitute a significant percentage of what is being consumed in the country.

As opined by Co-founder of cokodeal.com Olufemi Aguda, cokodeal.com is an ecommerce for local manufacturing and local trade export.

Even the demand for used-in-Nigeria cars, is starting to look more attractive with almost 30% increase in the price of imported cars in 2015.

Even though all of these have been precipitated by a decline in global oil sales, as it presents a silver lining for any serious government to capitalize on the development of its local content.

In the times of prosperity there might have not been a strong justification to move in that direction but in dire times, it appears a sensible thing to do and I want to believe it will be easier to sell to the electorate who are not used to being denied the pleasures of enjoying imported products.

Such move, then allows local content handlers and e-commerce channels in the local content market sphere such as cokodeal.com to increase their market presence.

With cokodeal.com manufacturers and local producers can access new markets and trade goods beyond the shelf of the nation, improving the trade capacity of businesses and opening up new market.

Local content development is imperative to the growth of the nation in its aim for diversification and resolving unemployment.

The value proposition in this is that it offers the potential of creating employment in a grossly underemployed nation, reducing our reliance on oil and oil-based products which as we have seen in recent times can be far easily influenced by global forces outside the control of local and national governments and eventually translating into export trade which diversifies the channels for forex inflow into the country and makes it less susceptible to fluctuations in just one sector.

It is true that this call for local content promotion and diversification is not new, however, now of all times appears the best time to set the wheels of local production rolling ahead of the next wave of global oil crashes or the imminent global transition to cleaner energy which has even more potentially devastating possibilities of totally wiping out Nigeria’s singular income source.

Raymond Agholor is an e-commerce Blog Specialist


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E-Business

Galaxy Backbone, Rural Electrification Agency Commit to Deepening Digital and Energy Access Across Nigeria

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In a major step towards deepening Nigeria’s digital and energy infrastructure, Galaxy Backbone Limited (GBB) and the Rural Electrification Agency (REA) have signed a strategic Memorandum of Understanding (MoU) at a brief but impactful ceremony held in Abuja.

The MoU signals a collaborative effort between both agencies to enhance Nigeria’s digital transformation agenda by integrating reliable energy solutions with cutting-edge ICT infrastructure, especially in higher institutions, Government institutions, underserved and rural communities across the country.

Speaking at the event, the Managing Director/CEO of Galaxy Backbone, Professor Ibrahim A. Adeyanju, described the partnership as “a landmark moment in Nigeria’s journey towards a digitally empowered, sustainably powered, and inclusively connected nation.”

“This partnership exemplifies what is possible when two visionary government institutions come together, united by shared goals and driven by the desire to improve the lives of Nigerians everywhere,” he said.

Professor Adeyanju emphasized that while Galaxy Backbone’s core mandate is to provide secure digital infrastructure that powers government operations, reliable and sustainable energy particularly in rural areas is essential to fully actualize digital transformation.

Major highlights of the MoU include:

  • Solar electrification of some of GBB’s Metro Fibre sites in Abuja by the REA.
  • Powering Hostels of Higher Institutions across the country through the Fibre to Hostel Project being driven by the Federal Ministry of Communications Innovation and Digital Economy (FMCIDE).
  • Support for the rollout of the 774 Local Government Digitization Initiative, beginning with six pilot Local Government Areas.
  • Provision of LANs, access points, cloud services, colocation infrastructure, and temporary connectivity to enhance REA’s operational facilities nationwide.

The Managing Director of the Rural Electrification Agency Mr Abba Aliyu, in his remarks, expressed optimism that this collaboration will further bridge the digital and energy divide across Nigeria. He noted that by combining REA’s achievements in expanding energy access with GBB’s robust ICT backbone, both agencies are poised to create lasting impact across governance, education, healthcare, and entrepreneurship.

This partnership is also in direct alignment with the Renewed Hope Digital Transformation Agenda of President Bola Ahmed Tinubu, GCFR, which envisions an inclusive digital economy powered by innovation and sustainable energy.

The ceremony was attended by top management from both organizations as well as members of the media.

With today’s signing, Galaxy Backbone and the Rural Electrification Agency have set the tone for stronger, smarter, and more inclusive public service delivery powered by strategic inter-agency collaboration.


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E-Business

NIMC Says NIN Services Back Online

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National Identity Management Commission (NIMC) has announced the restoration of its National Identification Number (NIN) verification services nationwide.

NIMC Says NIN Services Back Online

This, according to the commission, follows the completion of a system maintenance exercise.

In a statement issued on Friday, the NIMC confirmed that all previously disrupted services have resumed.

“NIMC wishes to inform the general public that the recent technical maintenance has been completed and all services have been restored,” the statement read.

The NIMC urged Nigerians seeking to enroll for NIN to visit the its official website to locate the nearest enrollment centers.

The agency also encouraged individuals to make use of its self-service portal for tasks such as data modification, including name changes.

To further ease the verification process, the Commission recommended downloading the NIMC NameAuth app (oath.app) from the Google Play Store or Apple App Store for quick and secure NIN authentication.

NIMC expressed appreciation for the public’s patience during the service disruption, which had impacted banks, telecom providers, and government agencies that rely on NIN verification for their operations.

 


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Report Reveals African Organizations Dangerously Overestimating Cyber defences

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Many businesses are overestimating their defence against cyber attacks, which creates a significant human risk blind spot. A new KnowBe4 report exposes a worrying disconnect between what leaders think about their cyber security readiness and what employees experience.

According to the KnowBe4 Africa Human Risk Management Report 2025, based on insights from cyber security decision-makers across 30 African countries, despite high awareness, a critical gap exists in turning that awareness into actual readiness and resilient behaviour.

Key findings from the KnowBe4 Africa Human Risk Management Report 2025:

Confidence vs awareness: While cyber security awareness is high, leaders express uncertainty about their workforce’s ability to act on that awareness. Many feel employees may overestimate their capabilities in recognising, reporting and mitigating threats.

The need for adaptive and personalised security awareness training: Many companies fail to personalise security awareness training to specific roles or risk exposures.

Widespread BYOD usage: A large percentage of employees (between 41% and 80%) use their personal devices for work.

AI policy development is lagging: Many companies (46%) are still in the process of developing policies for using AI tools in the workplace.

Regional variation: Southern Africa trains more, East Africa governs AI better and West/Central Africa sees the most human-related security incidents.

This gap is significant because Africa has become an attractive target to cyber criminals, especially those that launch AI-powered attacks. A LexisNexis Risk Solutions study found 60% of South African organisations have seen an increase in AI-facilitated financial crime – above the 56% global average.

Kehinde Popoola, regional manager and key representative for West and East Africa at Rubrik, said digital transformation is gaining momentum in Africa and companies are more exposed to cyber risk. The Rubrik executive adds that amid an increase in threats, it is crucial that organisations adopt an assumed breach mindset.

The KnowBe4 research shows that cyber security preparedness and the actual structures required to support secure behaviour seem misaligned.

The report highlights that just 10% of cyber security leaders are fully confident that staff would report a phishing attack or other cyber threat, despite rating employee security awareness of cyber threats at four out of five or higher.

There is also a significant perception gap between decision-makers and general employees in Africa regarding security awareness training, with 68% of leaders believing that training is tailored to roles, compared to only a third of employees feeling adequately trained.

KnowBe4 asserts that many organisations only conduct annual or biannual training that is too generic to effectively change behaviour, contributing to uncertainty about its effectiveness.

According to another report, the KnowBe4 African Cybersecurity and Awareness Report 2025, which focuses on end-user based responses, only 43% of African respondents felt confident in their ability to recognise a cyber threat, and just one in three believed their security awareness training was adequately tailored to their role. This comparison suggests the development of a dangerous perception gap in many organisations.

“There’s a disconnect here – between what leaders think is happening and what employees are actually experiencing,” says Anna Collard, SVP content strategy and evangelist at KnowBe4 Africa. “The data shows that without procedural and cultural follow-through, awareness simply doesn’t translate into readiness.”

“The continent’s cyber security posture may be more confident than it is truly resilient,” Collard adds.

 


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