Telecom
NITDA Recommends Use of Big Data to Build Viable Digital Economy
Mallam Kashifu Inuwa Abdullahi, Director General of the National Information Technology Development Agency (NITDA) has said that building and harnessing of big data is a panacea for building a strong Digital Economy.
Mallam Inuwa Abdullahi disclosed this at the 2nd Nigeria Data Summit Theme: “Leveraging National Data for Nigeria’s Digital Economy Development” held (virtual) on Friday.
He explained that for the country to build a Digital Nigeria with a strong Digital Economy, we need a solid strategy for the exploration and management of our vital resource that drives Digital Nation and Digital Economy, which is data.
According to the NITDA Boss, “As we embarked on our journey to Digital Nigeria, we need to lay a strong foundation for its corresponding economy, the digital economy”.
Equally, the NITDA Director General, said that just as the physical natural resources are driven by oil, so also is data the primary resource that drives the digital economy.
He said, “The phrase “Data is the new oil” exposes certain similarities between data and oil.
“Just like oil, data needs refining before its actual value can be unlocked.
“Data also needs exploration and processing to extract its value or meaning significantly.
On the other hand, Mallam Inuwa Abdullahi said that there are some dis-similarities between data and oil, according to him, “while oil is a finite resource, data is infinite and reusable resource, it also has more varieties than oil, and can easily be moved and transported from one point to the other”.
He noted that several developed countries across the world are already using big-data for monetary and fiscal policy formulation, combating the Financing of Terrorism (CFT); crime prediction and prevention, national defence/security management; national planning and budgeting; together with disaster prevention and management, among others.
Mallam Inuwa Abdullahi further explained that the essence of the Data Summit was to help the country build a successful digital nation and a corresponding digital economy.
He further revealed that the outcome of the summit and other existing national data regulations, guidelines, standards, and policies will be leveraged to develop a solid national data exploration and management strategy for our digital landscape.
“Consequently, we are going to leverage the outcome of this summit and other existing national data regulations, guidelines, standards, and policies to develop a solid national data exploration and management strategy for our digital landscape.
“The strategy is aimed to achieve three objectives, to identify action items to transform the Nigerian big data landscape and help the government to develop the capabilities required for effective data exploration and management.
“To develop a comprehensive and time-bound roadmap of how we are going to explore and manage our big data.
“And to come up with an execution plan on how to close the gap between where we are currently and where we desire to be in the area of data exploration and management”.
Mallam Inuwa Abdullahi also submitted that the initiative is in line with President Muhammadu Buhari’s campaign promise in the area of Security, Economy, and Anti-corruption.
Lynda Saint-Nwafor, chief Enterprise business officer, MTN Nigeria, has assured the network subscribers that the new end-user billing system for the use of USSD services will jot affect them.
USSD, otherwise Unstructured Supplementary Service Data codes are commonly used for banking transactions, airtime recharges, and other mobile services.
The telco said that there is no significant impact or change other than the fact that they will now pay the same N6.98 per session (120 seconds) with their airtime instead of direct bank debit.
Saint-Nwafor, said this during a chat with MTN MIP fellows, explaining that the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered telecom operators to ensure that the new billing model resolves trust issues and ensures transparency in the billing process.
“Our regulator insisted that at the end of every month, we are going to be providing history and statistics on the performance of the service across the board”, she explained.
Saint-Nwafor added that the new billing model has standardized messaging across all operators and ensures consistent communication with customers.
“We will take all the error codes and map them into messages that are standardised across the board. So, if you initiate a transaction, you will know if it is failing. And, when the transaction fails, you will know if it is from your bank or the telco,” she explained.
The U.S. government has recovered $225 million in what is now the largest seizure of funds linked to a cryptocurrency investment scam.
In a statement released Wednesday, June 18, the U.S. Attorney’s Office said the recovery followed an extensive investigation by the FBI and the U.S. Secret Service, using blockchain analysis and other forensic tools. The statement did not confirm whether any arrests had been made.
According to the authorities, the stolen funds originated from fraudulent cryptocurrency investment schemes that tricked victims into believing they were making legitimate investments. More than 400 individuals around the world, including dozens in the United States, were reportedly affected.
The operation involved a sophisticated money laundering network that carried out hundreds of thousands of blockchain transactions to obscure the source and ownership of the stolen assets.
“These scams prey on trust, often resulting in extreme financial hardship for the victims,” said Shawn Bradstreet, Special Agent in Charge at the U.S. Secret Service office in San Francisco.
Bradstreet added that U.S. officials hope the recovered funds can eventually be returned to the rightful victims.
Cryptocurrency investment fraud accounted for over $5.8 billion in reported losses in 2024 alone, according to the statement.
In a rousing declaration that is electrifying minds across the continent, Hon. Nnaemeka Ani, Special Adviser on ICT to Enugu State Governor, Dr. Peter Mbah, has called for a homegrown digital revolution under the banner “Africa Will Rise: By Code, By Courage, By Us.”
Hon. Nnaemeka Ani
The message, part challenge, part philosophical—seeks to galvanize African innovators to move beyond buzzwords and build technology with impact and legacy in mind.
“Let’s stop building for hype. Let’s start building for legacy,” Ani urged while speaking to ICT journalists over the weekend. “Let’s stop waiting for someone else. Let’s start creating the future—on our own terms.”
At the heart of Ani’s vision is a shift from tech consumerism to tech authorship. With innovation hubs sprouting across cities like Enugu, Lagos, Kigali, Jo’Burg, and Nairobi, and a growing community of developers, engineers, and entrepreneurs determined to solve Africa’s unique challenges, the movement is already taking shape.
Ani emphasized that Africa’s future lies not in flashy apps or international admiration but in persistent, intentional solutions that uplift communities—solutions that digitize public services, bridge rural-urban divides, empower women and youth, and build resilience in food and climate systems.
“We have the talent,” he said. “Now it’s time to harness it—to stop building for likes and start building for lasting impact.”
With support from leaders like Ani and rising momentum in Africa’s tech corridors, it seems that a new chapter is being written—one line of code at a time.
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