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MTN Woos US Investors to Invest in Nigeria

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MTN Nigeria has called on US investors to invest in Nigeria assuring them that the country provides one of the best return on investments in the world.

Karl Toriola, Chief Executive Officer, MTN Nigeria

Olutokun Toriola, Chief Executive of MTN Nigeria made the call at the 2021 edition of the US-Nigeria Investments Summit (UNIIS), in New York, United States which was held on 17th and 18th of September.

An event dedicated to attracting foreign direct investment into Nigeria, this year’s summit themed: ‘Nigeria, The Future of Global Business,’ had in attendance Mr Toriola, as well as the Chief Financial Officer, MTN Nigeria, Modupe Kadri.

They were joined by the Governor of Lagos State, Babatunde Sanwo-Olu, Minister of Industry, Trade and Investment, Otunba Niyi Adebayo amongst other dignitaries.

Speaking about the Nigerian environment, collaboration and new opportunities, Mr Toriola said “Working with like-minded partners and communities across the country, our goal is to drive meaningful, measurable and sustainable change while creating shared value.

“This is the reason we are partnering with the Federal government through the Ministry of Industry, Trade and Investment to attract new investors into the country to further improve the economy.”

Over the years, MTN Nigeria has borne witness to the innovation, drive, and resilience that is at the heart of Nigeria.

According to the company, the opportunity to play a role in Nigeria’s evolution has been its privilege and greatest achievement, as it understands that with real access and support, there is nothing Nigerians cannot achieve.

“MTN is a proudly Nigerian company, committed to the growth and progress of Nigeria and Nigerians. We’ve communicated significant plans to make an additional investment of up to $1.7 billion over the next three years in our network infrastructure, while our focus remains on improved customer service and network service quality” Toriola added.

MTN is guided by the philosophy of shared prosperity, as it believes that the success and growth of its business will contribute towards the diversification of Nigeria’s economy and attract more investments to the country. Its partnership with USNIIS, will also further create a platform for present and future investment networking between Nigeria and the US public and private sectors.


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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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FG Hopeful Thuraya’s Relaunch in Nigeria Will Boost Fight against Insecurity, Others

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Thuraya, a leading provider of satellite communication solutions, has officially relaunched its services in Nigeria, a move the federal government hope will help in the fight against insecurity, illegal mining and oil thefts in the country.

FG Hopeful Thuraya’s Relaunch in Nigeria Will Boost Fight against Insecurity, Others

Tsat Telecommunication, Thuraya’s local service partner, spearheaded the relaunch by implementing comprehensive strategies to enhance service delivery across Nigeria.

As part of this effort, the company partnered with system integrators Cypod Solutions and Niflink, who played critical roles in ensuring the successful integration of Thuraya’s advanced satellite services into the local market.

With this relaunch, Thuraya aims to provide more reliable and accessible communication options for businesses and individuals across Nigeria, addressing the growing demand for robust satellite solutions in remote and underserved areas.

This development is expected to have a significant impact on sectors such as oil and gas, agriculture, and disaster management, where seamless communication is vital for operational efficiency.

At the event Dr Bosun Tijani, minister of Communication, Innovations and Digital Economy, expressed hope that the launch of Thuraya communication products and services will help in the fight against insecurity, illegal mining and oil thefts in the country.

The minister who was represented by Engr Farouk Yusuf, permanent secretary of the ministry, said, beyond helping in expanding the country’s broadband penetration to hinterland and hard-to-reach areas, the formal entry of Thuraya satellite communications services will help security forces in combating criminalities bedevilling the country.

“Of course, Thuraya’s solutions will not only enhance broadband access but also provide critical communication tools such as can be used in security, agriculture and disaster management, as we mentioned in previous presentations.

“We expect Thuraya’s satellite products and services to play a critical role in addressing Nigeria’s ongoing security challenges through a deliberate action.

He, however, said that while the country is thrilled with the coming of Thuraya, Nigeria expects the firm to take deliberate actions and efforts in ensuring that the partnership brings value to the country.

Earlier, Alhaji Abba Sani Abdullahi, chairman and chief executive officer of TSAT, expressed delight over the partnership that saw the re-entry of Thuraya onto the Nigerian market.

Also speaking, Faisal Mohammed Ahmed, vice president, Tech and Sale of Thuraya,  said the company has range of telecommunications and satellite assets that will boost the country’s digital landscape and also help in tackling security problems.


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Toyota Prado, Kia Cars, Generators, Other Items on Offer as Glo Festival of Joy Begins

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Customers of digital solutions provider, Globacom, are in for an exciting Yuletide season as the company is set to give out exquisite cars and other prizes in a new season of its customer-loyalty reward promo, Festival of Joy.

Globacom, in a press statement issued in Lagos, noted that it has chosen to put smiles on customers’ faces by   spending huge sums on prizes at a time other companies are cutting costs owing to the prevailing economic situation.

The mouth-watering prizes   include Toyota Prado, 5 Kia Picanto cars, 15 tricycles, 150 power generating sets, 200 sewing machines and 300 grinding machines as the promo kicks off   on October 1 and will run until January 31, 2025.

Globacom explained that Festival of Joy promotion was launched in accordance with its commitment to empowering Glo subscribers as the festive season approaches. The prizes, it explained, were carefully selected to appeal to all categories of customers including high net-worth individuals (HNIs), professionals, business men and women, workers and students.

“Nigerians in all parts of the country have a chance to win any of the amazing items on offer as prize-presentation events will be held in several cities across the country including Lagos, Abuja, Ibadan, Port Harcourt, Enugu, Benin, and Warri,” Globacom explained.

Furthermore, new and existing customers on both the prepaid and the postpaid platforms are eligible to participate in the promo, the company added, saying “All a customer is required to do is to opt into the promo by dialing *611#, select the prize he or she is aiming for and recharge up to the required amount for the particular item to qualify for the draw.”

To become a proud winner of a Prado jeep, a customer is required to recharge up to N100,000 cumulatively during the promo period to qualify for the draw, while for the Kia Picanto, a customer needs to make a N50,000 cumulative recharge during the period.

Any customer who wishes to win a tricycle should recharge up to N10,000 cumulatively in a month, just as N5,000 total recharge in a month will qualify the customer to win a generator; N2,500 in a month for sewing machine and N500 in a day to qualify   for the draw for grinding machines.

Said Globacom, “All recharge types – physical and electronic – count towards the qualification. The higher the recharge amount, the higher the chances of winning.”

 


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FG to Launch $1.5m Initiative for AI Development

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Federal government is set to unveil a $1.5 million initiative aimed at supporting Artificial Intelligence (AI) development in the country.

This announcement comes from the Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, who disclosed the upcoming AI Fund initiative during an interview on Arise TV.

The new AI support, backed by global foundation Luminate, will be officially launched on October 7 in Abuja.

This follows the recent N100 million AI fund launched by the Ministry in partnership with Google. While the earlier fund was criticised as insufficient, Dr Bosun Tijani clarified that this new funding reiterates the government’s will and focus on pooling resources for AI growth in Nigeria.

Addressing issues about the perceived inadequacy of the previous AI fund, Dr Bosun Tijani explained that many Nigerians misunderstood the scope of the initiative.

He stated that the government is focusing on gathering resources from multiple avenues, emphasising that the AI sector’s development is not reliant solely on domestic funding.

The Minister revealed that, in addition to Luminate’s contribution, the government is setting up the National Artificial Intelligence Trust. This body, developed in collaboration with AI Collaborative, will ensure that AI innovations are ethical and sustainable, particularly as the nation works on developing AI applications in local languages.

Dr Tijani also discussed the government’s long-term vision for technology infrastructure, acknowledging that while the benefits may not be immediately visible, projects such as the ongoing fibre optic cable installation, which will cover 90,000 kilometres across the country, are crucial for future development.

The Minister admitted that securing the $2 billion required for this project will take up to 18 months, with the full installation expected to be completed over the next few years. However, he stressed the importance of such foundational projects, saying that their eventual impact will address national challenges, including poverty.

In addition to these large-scale initiatives, Dr Tijani highlighted the government’s 3 million Technical Talent (3MTT) initiative, which is already providing job opportunities for Nigerians, particularly in the technology sector. He also mentioned the 774 Project, designed to enhance service delivery at the local government level by connecting secretariats nationwide.

At a National AI workshop earlier this year, Dr Tijani had introduced the AI Collective, a collaborative platform aiming to drive the country’s AI ecosystem.

This effort is supported by the $1.5 million pledge from Luminate, spread over three years, which will fund key organisations such as Data Science Nigeria, Lagos Business School, and the Centre for Journalism, Innovation, and Development. These institutions will collaborate on governance, research, and innovation within the AI space.

The AI Collective operates within the National Centre for Artificial Intelligence and Robotics (NCAIR), providing a space for Nigeria’s academic, civil society, and technological communities to work together in ensuring that AI becomes a central component of the nation’s economic growth.


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