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Nigeria’s Economic Growth Takes Front Burner @ Economist Nigeria Summit
Stakeholders within various sectors of the economy have unanimously agreed that the economic divide between the North and the South within the country, is one key driver behind instability in Nigeria.
This was one of the topics of discussion during the two-day event concluded last week at the 10th edition of the annual Nigeria Summit in Lagos organised by top International magazine’s events arm, The Economist Events.
The theme for this year’s summit ‘Turning growth into prosperity,’ delved into key points on how Nigeria has become a hub for Foreign Direct Investment (FDI) for both the Eastern and Western world powers, and the need for a proper strategy for Nigeria that promotes trade and commerce between its neighbours and major international partners.
The summit, which was held on March 24th-25th at The InterContinental Hotel, Lagos, had a wide range of global and local delegates and speakers drawn from top corporations, Government and Nigerian society.
This year’s summit featured key speakers like Nigeria’s Minister of Agriculture, Akinwumi Adesina; Nigeria’s Minister of Communication and Technology, Omobola Johnson; Special Representative of the Chinese Government for African Affairs, Zhong Jianhua; Founder and Chairman, Indorama Corporation, Sri Prakash Lohia; Chief Executive Officer, African Capital Alliance; Okechukwu Enelamah; Founder and Chief Executive Officer, The Chair Centre Group, Ibukun Awosika; and Managing Director of Investments and Secretary of the Investment Committee, Wendel Group, Stephane Bacquaert; amongst other important dignitaries.
Speaking at the Summit, Omobola Johnson, minister of Communication Technology, Hon. stated that the current growth in Nigeria’s ICT sector is sustainable, adding that the growth could be harnessed and leveraged to deliver on the transformational opportunities in Nigeria. She stated that by effectively executing Nigeria’s national strategic agenda for the sector, ICT could be leveraged to drive and sustain the socio-economic transformation of Nigeria.
“With the exception of a couple of sub-sectors, the 26 key sectors that make up the ICT sector are positioned for high to medium growth and in turn have high to medium capacity to create jobs and wealth,” Johnson said.
In a submission, the Chinese government’s Special Representative on African Affairs Ambassador Zhong Jianhua, said economic transformation in Nigeria and Africa has been effective in the past decade which has contributed positively to the economic growth. He urged the Nigerian government to create more enabling environment for investors around the world to enhance development in the country.
Commenting on the outcome of the summit, Executive Director of The Economist, Daniel Franklin disclosed, “This year’s Nigeria Summit brought together over 350 leaders drawn from different walks of life, including Nigeria’s public and private sectors, international business players and investors for a discussion on how Nigeria can turn its economic growth into social and political prosperity.”
The just concluded Nigeria Summit was sponsored by Etisalat, First Bank, GTBank, Siemens, Standard Chartered, Accenture, Hanger 8, Oando, Oracle and P&G, and had its official PR partner as The Quadrant Company, official broadcast media as CNN, and official logistics supplier as DHL.

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E-Financial
FG Investigates ‘Sharp Sharp’ Loan Operators over Alleged Privacy Violations

Nigeria Data Protection Commission (NDPC) has launched investigation into the activities of so-called ‘sharp sharp’ loan operators over alleged violations of customers’ data privacy.

‘Sharp sharp’ loan operators, also known as loan sharks are illegal, unlicensed moneylenders who operate outside of government regulation.
They typically target individuals who cannot access traditional bank loans due to low income or poor credit history.
Vincent Olatunji, national commissioner of the Nigeria Data Protection Commission, told the News Agency of Nigeria, that some of the violations include accessing borrowers’ phone contact lists and using them to reach their family members and friends, as well as sharing images without consent and sending defamatory or threatening messages.
Olatunji, who spoke on the sidelines of a training for Data Protection Officers in Abuja, said the federal government was aware of some lenders breaching customers’ data privacy in their desperate bid to recover loans.
He emphasised the need for increased public awareness, urging Nigerians to understand their rights and carefully review loan agreements before accepting offers.
Olatunji, however, said unethical data practices by loan operators remained a global concern.
“Many borrowers unknowingly expose their personal data due to failure to read loan agreements. This is not peculiar to Nigeria; it is common in every part of the world.
“Unfortunately, most of the information are from those who obtained loans without going through the agreement they signed before accessing the loans.
“Many operators function solely online, without physical offices. This makes regulations more complex. However, compliance with data protection laws remains mandatory.
“Before any digital loan giver operates in Nigeria, it is mandatory to look at the areas of privacy,” he said.
Olatunji said that Nigeria had several consumer protection entities such as the Federal Competition and Consumer Protection Commission, which takes the lead on consumer protection.
The NDPC boss listed other key agencies involved in regulating the space to include the National Information Technology Development Agency (NITDA), the Nigerian Communications Commission (NCC), the Central Bank of Nigeria (CBN), and the Nigeria Police.
He said that any digital lender must obtain approval and licensing from the FCCPC, with strict requirements to uphold user privacy.
“Part of the requirements is to ensure provisions around privacy are complied with so that they do not infringe on the rights of their customers.
“Any unauthorised access to people’s contacts is an offence and we will come after them,” he warned.
News
CISA Asks NDPC, Police to Act on Alleged Data Breach by NIPSS

Citizens Initiative for Safety Awareness (CISA), advocacy group focused on security, data protection, and counter-terrorism, has urged the Nigeria Data Protection Commission (NDPC) to provide an update on a petition alleging a cybersecurity breach and unlawful access to private communications involving officials of the National Institute for Policy and Strategic Studies (NIPSS).

Mr Chidi Omeje, national coordinator, in a letter dated April 10, 2026, observed no response from the commission so far.
Filed on July 1, 2025, by Mr Yushau A. Shuaib, the petition claims unauthorised access, interception, and use of private digital correspondence belonging to him and PRNigeria, his company.
The complaint named Barrister Nima Salman Mann, Rear Admiral Abubakar Abdullahi Mustapha, and Professor Elias Wahab concerning the alleged breach. Such incidents are outlined in the Nigeria Data Protection Act (NDPA) 2023, regarding data privacy, cybersecurity safeguards, and the protection of sensitive information.
CISA said if confirmed, the alleged actions contravene Nigeria’s data protection framework, with implications for data governance, safety of confidential media sources, and public trust in institutions.
It requests the NDPC to clarify the status of the probe, disclose any interim findings, and cite measures to prevent similar breaches.
The organisation believes the matter has evolved beyond an individual complaint, describing it as a test of the government’s commitment to enforcing its data protection laws, especially within ministries, departments, and agencies.
CISA also appealed to Tunji Disu, inspector general of Police, to order an investigation into the alleged cybercrime.
In a statement, Omeje criticised the “prolonged delay” by the Force Criminal Investigation Department (FCID) in acting on a petition submitted since June 2025.
The group said, despite “credible evidence,” the police had yet to invite or question the individuals mentioned. Pointing out that two of the officials share membership in the National Institute (mni) with the former DIG at the FCID, CISA raised concerns about a possible conflict of interest.
Omeje clarified that the petition was different from the civil suit at the Federal High Court over Mr Shuaib’s withdrawal from the NIPSS programme.
“An elementary legal principle holds that a civil suit cannot be a bar to criminal investigation or prosecution,” he noted.
CISA called on the police to act in accordance with due process, advising the authorities to uphold the rule of law and restore public confidence.
It contends that failure to act decisively could erode trust in law enforcement and reinforce perceptions of a two-tier justice system.
Broadcasting
Fela Makes History as First African to be Inducted into Rock and Roll Hall of Fame

Fela Anikulapo-Kuti, simply known as Fela, legendary Nigerian musician, has made history as the first African artist to be inducted into the Rock & Roll Hall of Fame.

Fela
This is coming after he was posthumously honored with the 2026 Grammy Lifetime Achievement Award, becoming the first African artist to receive this prestigious special merit recognition.
Fela will be honoured in the early influence category this year, along with Queen Latifah, rapper MC Lyte, country rocker Gram Parsons, and Cuban singer Celia Cruz at this year’s Rock and Roll Hall of Fame event.
The honorees were revealed on Monday night in the US, during an airing of American Idol.
Sade Adu, Nigerian-born British singer, will be honoured in the performance category.
However, Shakira, Mariah Carey, Lauryn Hill, New Edition, and Pink, missed out on the final cut despite being nominated.
Over 1,200 artists, historians and music industry professionals voted to decide the honorees.
The induction ceremony will be held on 14 November at the Peacock Theatre in Los Angeles.
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