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NITDA, IFC Partner to Build Strong Institutions, Sustainability of Nigeria Digital Economy
National Information Technology Development Agency (NITDA) is set to collaborate with the International Financial Corporation (IFC) by co-creating robust regulatory frameworks in implementing government policies aimed at digitally transforming the country and sustaining a vibrant digital economy.
NITDA DG, Kashifu Inuwa CCIE (right) presenting the agency’ SRAP to the IFC’s Senior Economist, Nadege D. Yameogo, PhD
Kashifu Inuwa, director general of NITDA, made the disclosure when he played host to a delegation from the IFC, led by the corporation’s Senior Economist, Nadege D. Yameogo, PhD, at the corporate headquarters of the agency in Abuja.
Inuwa noted that the President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, has mandated the Ministry of Communications, Innovation, and Digital Economy to enhance productivity through technological innovation in diversifying the nation’s economy, stating that a strategic plan with 5 strategic pillars has been unveiled by the ministry to achieve this.
While enumerating the pillars as Knowledge, Policies, Infrastructure, Innovation, Entrepreneurship & Captial, and lastly, Trade, he explained that knowledge is the foundation upon which countries build a robust and sustainable economy and it was imperative to create an enabling environment where innovations and entrepreneurship ecosystem can thrive and commercialised globally.
“When we invest and we build the infrastructure, it will enable us to trade “made in Nigeria” products and services, as well as our greatest resource, which is our talent”, he reemphasized.
Inuwa further noted that the agency is re-crafting its Strategic Roadmap & Action Plan (SRAP) policy document in implementing the Ministry’s strategic plan of accelerating the country’s collective prosperity through technical efficiency.
Expressing his enthusiasm at having the visitors on board for the agency’s stakeholder engagement on re-crafting the agency’s SRAP, Inuwa mentioned that the aim is to co-design the document so that the ecosystem could co-create the strategy and implement it.
Noting that the document would have 8 strategic pillars, he said that Fostering Digital Literacy and Cultivating Talent will be the first pillar.
“We have the National Digital Literacy Framework (NDLF) where we have a target of achieving 95% digital literacy by 2030, and we have a midterm target of 70% by 2027. So, in the designing of this strategy, we want to get the stakeholders that will execute because we want it to be a strategy for execution”, he said.
The NITDA DG expressed his optimism that with the population of youths in the country if well harnessed and cultivated, Nigeria could compete with any country globally in terms of rendering services.
He said that the agency is willing to bring all stakeholders on board in providing inputs on how to design the strategy and identify some legal frameworks for the second pillar which is to ‘Strengthen Policy Implementation and Legal Frameworks.’
While emphasizing the need for the country to invest in deep research of technology, he stated that the third pillar is about Building a Robust Technology Research Ecosystem.
“Remember the mandate is to enhance productivity in critical sectors, so we see the digital economy beyond just being within the IT sector. It is pervasive so our goal is to apply it in different sectors to increase productivity”, he noted.
Inuwa further disclosed that the fourth pillar is on Promoting Inclusive Access to Digital Infrastructure & Services which according to him, will bridge the digital divide in the country and ensure everyone has access to the safe and responsible use of digital devices and platforms.
“We have a target of 40% of women inclusion as well as people living with disability and children as well. We have different initiatives for all these demographic groups”, he added.
He stated that the fifth pillar is on Strengthening Cyber Security and Enhancing Digital Trust because it was important to build the trust of Nigerians through the development of legal frameworks for digital signatures and public key infrastructures.
Revealing the sixth pillar as Nurturing an Innovative and Entrepreneurial Ecosystem, Inuwa asserted that investing in talents will create many innovative solutions for the health care, education and financial inclusion challenges the country is currently experiencing.
He mentioned that the seventh and eighth pillars are Forging Strategic Partnership & Collaboration, and Institutional Reform respectively, the NITDA DG stated that the agency’s willingness to build strategic partnerships with the visitors as well as building skill sets and cultivation of employee mindsets in carving a formidable agency.
“We believe we can learn from you and other organisations through strategic partnership and collaboration so that we can build strong institutions in Nigeria and Africa”, he concluded.
In her earlier remark, Ms. Yameogo expressed her excitement at collaborating with NITDA in the promotion and sustenance of the country’s digital economy.
She remarked that their priority area of interest is in the digital economy, stating that the developmental impact it can bring in terms of job creation, reducing regional disparities, creating opportunities for private investment and bringing more private capital into the country cannot be overemphasized.
Yameogo explained that digital infrastructure is an area that needs more attention, she maintained that it is an area where private investors can intervene in terms of Agri tech, Creative tech and Health care tech.
Legend Internet Plc has announced the full and timely repayment of its Series 1 Commercial Paper under its N10bn multi-layered issuance programme, marking a key milestone in the company’s engagement with Nigeria’s debt capital market.
Aisha Abdulaziz, chief executive officer, Legend Internet Plc,
The repayment, completed on schedule and in full, underscores the company’s financial discipline and its continued commitment to maintaining strong investor relations in a tightening funding environment.
The Series 1 issuance had earlier attracted significant demand, recording a 119.7 per cent oversubscription at launch, reflecting strong investor appetite and confidence in the company’s credit profile, operational performance, and long-term expansion strategy.
Speaking on the repayment, Aisha Abdulaziz, chief executive officer, Legend Internet Plc, said the outcome reinforces the company’s credibility and operational strength.
“The successful repayment of our Series 1 Commercial Paper demonstrates Legend Internet’s unwavering commitment to meeting its financial obligations and maintaining the trust of the investment community.
This milestone further reinforces the strength of our business model, operational discipline, and long-term vision for building resilient digital infrastructure across Nigeria,” she said.
She added that investor confidence has remained central to the company’s funding strategy, saying, “We remain deeply appreciative of the confidence shown by our investors, advisers, issuing houses, and market partners during the issuance and throughout the tenor of the programme. Their support continues to position Legend Internet for sustainable growth and expansion.”
The Commercial Paper programme forms part of Legend Internet Plc’s broader capital strategy aimed at supporting broadband infrastructure expansion, strengthening working capital efficiency, and accelerating investment in Nigeria’s digital connectivity.
Legend Internet Plc operates as a digital infrastructure and broadband services provider, with a focus on fibre connectivity, enterprise solutions, and next-generation digital services designed to expand access and support economic inclusion across Nigeria
Federal government has launched GovGuideNigeria, an artificial intelligence (AI)-powered digital platform designed to streamline access to public service information through WhatsApp and the web.
The platform consolidates information from more than 35 federal ministries and over 60 government agencies, marking a significant step in Nigeria’s drive to expand AI-enabled public infrastructure and digital government services.
According to Bosun Tijani, Nigeria’s minister of communications, innovation and digital economy, the initiative aims to simplify interactions with government services, particularly for underserved communities that often face challenges navigating complex public-sector systems.
Developed in collaboration with the National Centre for Artificial Intelligence and Robotics, Meta, and Publica AI, GovGuideNigeria uses conversational AI to provide real-time responses via WhatsApp and a web interface in English, Hausa, Igbo and Yoruba.
Sade Dada, head of public policy at Meta, said the multilingual rollout highlights the growing use of natural language processing within African public institutions to improve digital inclusion and broaden access to services.
Ignatius Willie, chief executive of Publica AI, said the platform demonstrates how Africa’s next generation of digital public infrastructure can be developed locally using African languages.
GovGuideNigeria is intended to address longstanding challenges in Nigeria’s public information system, where citizens often struggle to access reliable guidance because of fragmented government websites, poor communication channels and the expense of travelling to physical offices.
Through AI-driven automation, users can obtain information on immigration procedures, documentation requirements, public programmes and agency-specific services through chat-based interactions.
The launch also reflects Nigeria’s broader ambition to integrate AI into digital governance, while strengthening partnerships between government agencies, global technology companies and local AI startups to modernise public service delivery.
Elon Musk is poised to become the world’s first trillionaire after SpaceX, his company, confirmed plans to go public.
Elon Musk
Because Musk owns the majority of the shares, it could push his net worth over the trillion dollar mark.
The entrepreneur is known for his leadership of Tesla, SpaceX, X, and xAI.
Musk has been the wealthiest person in the world since 2025; as of May 2026, Forbes estimates his net worth to be $788 billion.
SpaceX has filed for a blockbuster public listing in the United States, paving the way for what could become the largest stock market debut in Wall Street history.
The company, formally known as Space Exploration Technologies, announced plans to begin trading under the ticker symbol “SPCX” as early as next month.
The listing values SpaceX at about $1.25 trillion, with Musk’s majority ownership potentially worth more than $600 billion alone.
Combined with his existing holdings in companies including Tesla, the IPO could push Musk’s personal wealth above the $1 trillion mark.
The long-awaited filing also offered investors a rare look into SpaceX’s finances.
The company reported $18.6 billion in revenue last year but recorded a net loss of $4.9 billion. In the first quarter of this year, SpaceX generated $4.7 billion in sales while posting a $4.3 billion net loss.
Financial disclosures showed the company holds $102 billion in assets, including rockets, launch infrastructure and satellite systems, while carrying debts totalling $60.5 billion.
Despite the losses, analysts suggested investors were unlikely to be deterred given SpaceX’s dominance in commercial space launches and satellite internet services.
Ruth Foxe-Blader, managing partner at Citrine Venture Partners, described the planned flotation as “extremely exciting.”
“SpaceX is just an absolutely sprawling, enormous project with so many different selling points, and so many points that really point to the future,” she said.
SpaceX operates the Starlink satellite internet network and also owns Musk’s artificial intelligence company, xAI.
The IPO filing revealed that xAI recently reached a major commercial agreement with rival AI company Anthropic, maker of the Claude chatbot.
Under the arrangement, Anthropic will reportedly pay $15 billion annually to access data centre infrastructure linked to xAI operations in the American South.
The filing also disclosed that SpaceX expects to incur more than half a billion dollars in legal costs from multiple ongoing lawsuits and regulatory disputes.
Among the cases listed were claims alleging that xAI’s chatbot Grok had been used to create sexualised deepfakes of women and girls, alongside patent infringement disputes, music copyright claims, data breach allegations and investigations into compliance with European Union content moderation rules.
Musk has previously said he plans to dissolve xAI as a standalone company and pursue his AI ambitions directly under SpaceX.
The filing came shortly after Musk lost a high-profile legal battle against OpenAI and its chief executive Sam Altman.
Musk had accused OpenAI of abandoning its non-profit mission after shifting towards a commercial model, but a jury dismissed the lawsuit, ruling that he had waited too long to bring the claims.
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