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NITDA DG says Digital Economy has Created Pathway for Emerging Technologies

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Kashifu Inuwa CCIE, the Director General of National Information Technology Development Agency (NITDA), said that digital economy has created a pathway for emerging technologies, providing opportunities for talented youths in Africa to emerge as global leaders, through harnessing their potentials.

Inuwa said this at the Leaders Without Borders Annual Business Summit and International Honors 2023 in London with the theme: “Business Beyond Borders, Global Partnerships and Sustainable Investments” which is a global event that brings together business leaders, entrepreneurs, and thought leaders from around the world to promote collaboration and innovation in the business work.

The DG recalled that NITDA as a government agency established in 2001 to help Nigerians in the use of Information Technology (IT), which at that time, less than five hundred thousand Nigerians had access to computer and was contributing less than 0.05% to the Gross Domestic Product (GDP) to the nation. Today more than one hundred and twenty million Nigerians have access to the internet not just computer. Information and Communications Technology (ICT), is contributing to more than 18.5% to the GDP.

He added that, “The NITDA Act was passed into law 2007 and by 2012 we had the National ICT policy and in 2019 we had the National Digital Economy Policy and Strategy (NDEPS) which is a major shift in the Agency’s policies. Previous policies are about the use of information Technology while the later digital economy is about the use of ICT in line with the economic activities, simply meaning that technology is not the end but a means to an end”.

“The Agency’s mandates fall around developing the national digital economy ecosystem that includes; developmental regulation on how it can level the playing field for you to start and grow business, intervene in the policies and infrastructures for unserved and underserved communities, and lastly, helping the youth with seed funding to develop a proof of concept and prototype of the ideas”.

“NITDA embarked on the development of many regulatory frameworks for the Information Technology development in government establishments.

The projects are to give rise to digital skills in educational institutions and rural areas and cities, so as to develop human capital and provide universal access to digital services with the aim of creating a knowledge- based economy,” he said.

The DG stated that in addition to making an effort in IT development as well as enhancing the capacity of the citizenry, hundreds of IT Hubs, IT Parks, and community ICT centers were established, furnished and equipped with world class facilities across the states of the federation.

The agency through its strategic relations with techpreneurs, supported start-ups, IT ecosystem builders through Nigeria ICT Innovation and Entrepreneurship Vision (NIIEV) which has created employment for Nigerian youths.

To ensure Nigeria’s pool of talents were not left behind, the Agency established the National Center for Artificial Intelligence and Robotic (NCAIR), to drive and support research, development, and adoption of emerging technologies in the country.

Inuwa further revealed that, “Nigeria is thriving and has the most vibrant tech ecosystem in Africa, the fintech company which is almost twice bigger than the biggest bank in Nigeria.

The biggest bank in Nigeria is about 1.6 billion USD in valuation, while Flutter wave is almost 3.6 billion USD. While looking into e-commerce, e-health, mobility and logistics, e-recruitment, Agric-tech, prop-tech, and smart homes which is booming in Nigeria and Africa in general”.

“In the ecosystem we have five critical stakeholders to be considered; the institution: where the universities produce the human capital which is the most valuable resources in Africa, with the youngest population with more than 70% comprises of youths under the ages of 30; the Government: which is aimed at building a conducive environment for businesses to thrive through laws, provide legal frameworks, policies, and regulations.

“The private organisations: to aid employ the human capital produced and also purchase of the goods and services rendered. The risk capital: which is a major problem in Africa. If you look at most of the top jobs in Nigeria and Africa in general, they get funding from abroad, mostly from the US and Europe.

While in Nigeria we don’t have such to invest to boost the economy. And lastly the entrepreneurs: we need them also on board to understand what people want so that they can start and grow their businesses.

“The Nigeria tech ecosystem has attracted about 4.4billion USD investment between the year 2015, 2019 and 2020 respectively, and ICT contributing to about 18.5% to the nation’s GDP, and NITDA also supported about 753 start-ups in different ways through trainings, seed funding and grants”.

“Recently, we took some start-ups to Riyadh for competition, which two of them emerged as global winners and won 150,000 USD each. Nigeria is thriving and has a vibrant tech ecosystem in Africa and almost 30% to all Foreign Direct Investment (FDI) into Africa ends in Nigeria,” the DG said.

Inuwa further said that “NITDA has been doing a lot in the area of digital literacy where we want to use our local languages to enable every Nigerian to be able to use digital devices and consume digital services, we have trained over 3.3 million Nigerians on digital literacy to boost the economy.

“Under the IT project clearance, it has saved the country money from duplication of projects by Ministries, Departments and Agencies (MDA’s) which from 2019 to date , the agency through the project has saved the country over 305 billion naira from IT project implementation in MDAs towards improving effectiveness and efficiency in executing government IT projects across the country,” the DG said.

Highlight of the event was the presentation of award to the DG in recognition of his outstanding leadership and contributions to the development of the Nigerian Information Technology sector in Nigeria geared towards growth and development.

 


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E-Business

Confronting the Google Monolith: Survival Strategies for Online Businesses

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By Reuben Kalu.

In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.

From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.

Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?

The answer, in today’s digital landscape, is a resounding no. You have no choice.

Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.

From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.

Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .

Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.

For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.

But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.

With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.

Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.

 

Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.

With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.

Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.

Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.

From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.

Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.

But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.

With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.

For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.

Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.

In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.

In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.

From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.

While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.

You have no choice.


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Hydrogen Hosts Catalyst Workshop, Highlights Resilient Business Models for Fintech Startups

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As part of its mission to empower African businesses with tools needed to thrive, garner admiration, and foster global acclaim, leading payment solution company, Hydrogen Payment Services Company Limited (Hydrogen), recently partnered with the Co Creation Hub (CcHub), to host the latest edition of the Catalyst workshop in Lagos.

The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop resilient business models that would scale across different economic climes.

Moderated by Miracle Ezechi, Digital Marketing Manager, Hydrogen, the panel session addressed dominant issues about the theme: ‘Adapting Fintech Business Models to Economic Climes: Flexibility, Agility and Customer-centricity’.

Mr. Emeka Awagu, Chief Technology Officer, Hydrogen, who spoke as a panellist, addressed the issue of customer-centricity, which according to him, is key to Fintech growth.

He advised startups to listen to customer demands and understand their needs in order to develop the right solutions that will lead to long term market viability.

“Innovation is key for startup growth. However, understanding customers’ needs and change in behaviour will help any startup to innovate better.

“Startups must be flexible and agile to develop solutions with high interoperability and processing speed, and they must be ready to learn from startups that have failed,” Awagu said.

With an estimated 61.07 percent of startups failing, the participants stressed the need for prudence.

“Statistically, a staggering number of startups fail, often due to financial mismanagement. Hence, founders must prioritise understanding and maintaining a healthy the Cost-to-Earnings ratio.

“It is not just a number, but a pivotal indicator of a company’s financial health as well as being a key attractiveness determinant for investors,” Awagu added.

On his part, Ina Alogwu, the Group Director, Digital Transformation, ARM HOLDCO, who also spoke as a panellist at the session, stressed the need for startups to develop sustainable products and solutions that will help them remain competitive in an environment that is faced with harsh economic realities.

“Many startup businesses fail within their first five years, however upcoming startups should not be discouraged, rather develop a culture that will encourage them to understand the reasons for failure and learn from mistakes.

“Startups should not be too rigid with their solutions and should be ready to accept changes that will drive innovation,” Alogwu stated.

Hydrogen will be deepening its economic impact series with a webinar planned for Thursday, April 25, even as businesses across Africa continue to face an array of challenges, ranging from inflation and currency fluctuations to rising operating costs.

Themed ‘Navigating Economic Challenges: Strategies for Sustainable Growth,’ the webinar will delve into key areas critical for businesses to not only survive but thrive in the face of economic adversity. Register using this link – https://bit.ly/Hydrogenwebinar.

Esteemed panellists for this event include Taofik Odukoya, CEO, Vanguard Pharmacy, and Okechukwu Odimgbe, Chief Financial Officer, Hydrogen. The session will be moderated by Nnenna Sam-Obioha, Ecosystem Orchestrator, Hydrogen.

 


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Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

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Dexude, a leading edtech platform with operations in Nigeria, has announced that it has been awarded the prestigious Business Finland TEMPO funding.

Dexude Secures Funding to Revolutionize Education in Nigeria, Beyond

Charles Emembolu, founder of Dexude,

This significant funding injection marks a pivotal moment in Dexude’s journey towards transforming education through its AI-powered, live-first, expert-led, and community-driven platform.

The Business Finland TEMPO funding is specifically designed to support startups and SMEs aiming for international growth by building their expertise and solutions into international success stories in innovative ways.

Dexude’s commitment to innovation, coupled with its vision to enable a billion learners worldwide, aligns perfectly with the objectives of the TEMPO funding.

Commenting on this milestone achievement, Charles Emembolu, founder of Dexude, remarked, “We are incredibly honored and excited to receive the Business Finland TEMPO funding. This funding is not only a validation of Dexude’s mission to reinvent education but also a testament to the hard work and dedication of our team. With this support, we are poised to accelerate our efforts in democratizing access to quality education and empowering learners across Nigeria and beyond.”

L-r; Kelvin Chikezie, co-founder of Dexude; Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency (NITDA); and Charles Emembolu, founder of Dexude

Kelvin Chikezie, co-founder of Dexude, added, “Securing the Business Finland TEMPO funding is a significant milestone for Dexude. It underscores our commitment to leveraging technology and innovation to revolutionize the way people learn and grow. We are grateful to Business Finland for believing in our vision, and we are excited to embark on this next chapter of Dexude’s journey.”

Dexude is on a mission to redefine education by providing learners with access to influential experts and thought leaders, live interactions, and a vibrant community-driven learning experience.

Through its platform, Dexude aims to break down barriers to learning and empower individuals to pursue their passions and unlock their full potential.

 

 

 

 


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