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Opeke, Others at NSE/Bloomberg CEO Roundtable Bemoan Forex Challenge

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Funke Opeke, CEO MainOne Cable
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Top chief executive officers (CEOs), policy makers and key players from all the sectors of the Nigerian economy who converged at the third edition of the Bloomberg CEO Roundtable believe that addressing the macroeconomic problems has become inevitable to move economy forward.

“This situation has prompted a difficulty towards accessing forex in Nigeria, and there is no domestic substitute for Naira, said Funke Okpeke, CEO, MainOne during an interactive session at the event.

The Nigerian technology industry has been under serious threat following the numerous challenges, a situation which has triggered an outcry from various telecom operators.

“We have seen lots of retrenchment; quality of service has been eroded; operational inefficiencies are becoming high due to low investment. And we are not able to invest as a result of forex inaccessibility.

Funke said that some of these issues need to be addressed by focusing on fundamental macroeconomic problems, adding those policy implementations need to be prioritized to get results.

Nigeria Needs More Commitment To Economic Reforms
“Nigeria must quickly show a high level of commitment to some of the economic reforms that are work in progress.” said Dr. Doyin Salami, Senior Lecturer at Lagos Business School, while delivering a lecture titled “Economic Roundup.”

He explained that the reform elements in the economic plan must be quickly addressed for Nigeria to build a sustainable, inclusive and rapid economy.

The renowned economist said hoping to get out of recession is a limited ambition, stating that the priority should be what Nigeria must do after getting out of recession.

“If we don’t get the figures right in the second, definitely it will reflect on the third quarter, the issue remains the reactions to achieve sustainable, rapid and inclusive economy.

He lamented about the low level of investment, cost and the severe constant pressures on consumers, adding that inflation currently seats at 16.3 percent, a situation which has triggered a disadvantaged competitiveness to Nigeria.

“Despite the rising cost, wages and salaries were not increased, and it has been on a constant shrink, thereby mounting pressures on consumers.

“Also, investment is pretty small; we are only investing 13 percent of its GDP, which ought to have been twice.” He added.

Fed Govt Engages Foreign Investigators To Trace Illicit Funds
In a keynote address, Mrs. Kemi Adeosun,  minister of Finance, said the Federal Government had engaged a global investigation agency in a bid to trace illicit funds originating from Nigeria to different parts of the world.

Adeosun stated this while in a keynote address at the Nigerian Stock Exchange-Bloomberg CEO roundtable in Lagos.

She said, “We have just 40 million active taxpayers out of an estimated 69.9 million, who are economically active in Nigeria. And of that 40 million, the majority are PAYE (Pay As You Earn), that is, those who have their tax deducted at source.

“Among those who are even paying taxes, there is widespread malpractice that results in only part of the actual income being subjected to tax.”

She noted that the Federal Executive Council on Wednesday granted permission for the Ministry of Finance to sign the global convention on base erosion and profit shifting that allowed companies that generate profits in Nigeria to evade taxes by shifting the profits to countries or jurisdictions where little or no tax was payable.

“These practices harm Nigerians and must stop,” said the minister, who described the nation’s tax to Gross Domestic Product ratio of six per cent as one of the lowest levels in the world.

“We have a lot of work to do if we are going to build a sustainable revenue base that will deliver the growth we desire. Even within our tax-paying community, only 214 people in the entire nation pay taxes of N120m in spite of having some of the richest people in Africa and some of the best capitalised companies in Africa; only 214 in the entire country, all of who are in Lagos State,” the minister stated.

Adeosun said the issue of tax evasion must be addressed aggressively for the country to grow, adding, “And to do so, we will have step on some big toes, and we will need to step on them hard. But we really have no choice.

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“Those who have more must carry their fair share of the tax burden, and so to this end, for the last 15 months, we have engaged in a huge data-gathering exercise. We have engaged one of the world’s leading global investigating agencies and we have traced funds originating from Nigeria to all parts of the world.”

The minister said the illicit flow of funds out of Nigeria was harming the country, adding, “It deprives us of essential funds and those same funds are then used to finance developments in other nations. This must stop.”

Speaking on the nation’s debt profile, she said the government would always have a conservative appetite for borrowing.

“However, in the short term, we will all have to bear the discomfort of an imbalance between our debt service and our revenue as we exit the recession and return to growth,” Adeosun added.

While describing more efficient revenue mobilisation as an important financing strategy, the minister said, “I am sure you are aware of the controversies about the amount of money that we are using to service our debts at the moment. The solution is revenue; if we have more revenue, we will borrow less.

“If we have more revenue, our debt service to revenue ratio will improve. So, the solution to the problem is not to reduce our debts. At this point in time, we have no choice; we must borrow to fund our infrastructure. The solution to the problem is to increase our revenue and that we are doing.”

According to her, the nation’s infrastructure deficit is so deep and so critical, and government cannot do it alone, even if the entire budget is dedicated to capital projects.

“So it is critical that we will engage with the private sector and to this end, we intend to revive public-private partnership in Nigeria,” Adeosun stated.

She said the government was reviewing the PPP framework as well as trying to resolve outstanding issues with existing and even failed projects.

 

 


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Galaxy Backbone Confirms Over 150,000 Active Official Government Email Accounts, Clarifies Status of GOVMAIL

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Galaxy Backbone Limited (GBB), Nigeria’s foremost ICT infrastructure and shared services provider to the Federal Government, wishes to reiterate and clarify the availability, maturity, and ongoing expansion of the Federal Government’s official email infrastructure, widely known as GOVMAIL.

GOVMAIL is a secure and centralized official email platform established for use by Ministries, Departments, and Agencies (MDAs) to facilitate professional, auditable, and efficient communication across all arms of government.

The platform was launched by the Office of the Head of the Civil Service of the Federation, Mrs, Didi Esther Walson-Jack as part of a broader digital transformation agenda aimed at modernizing public service workflows and reducing reliance on paper-based correspondence and fragmented, external email services.

Recent statements by the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, underscore the strategic importance of GOVMAIL in the wider push towards a paperless civil service.

In late 2025, she announced that over 100,000 official GOVMAIL accounts had been created for civil servants across federal MDAs under an expanding paperless policy and that the transformation reflects a clear shift away from traditional paper correspondence to secure digital communication at scale. Today, that number has grown to over 150,000 Official government email accounts, current in use by government workers across MDAs.

Galaxy Backbone also affirms that these email accounts operate within a protected sovereign government domain environment hosted on secure local infrastructure, supported by enterprise-grade cybersecurity architecture.

The platform underpins centralized identity management and ensures compliance with national data protection standards, reinforcing accountability, audit-trail visibility, and overall digital governance efficiency.

In addition to GOVMAIL, Galaxy Backbone operates secure national Tier III and Tier IV Data Centres, a robust National Fibre Backbone, a Security Operations Centre (SOC), and a Network Operations Centre (NOC) that jointly power mission-critical government digital services. This infrastructure is closely aligned with the Federal Government’s digital economy strategy and its efforts to deepen digital service delivery, transparency, and efficiency across MDAs.

To accelerate adoption and ensure that every government worker who is expected to have an official email has one, GBB is working collaboratively with MDAs to close existing gaps and onboard remaining staff within the shortest possible time. These coordinated efforts reflect the shared objective of equipping public servants with the digital tools necessary for responsive, efficient, and secure inter-agency communication.

Galaxy Backbone remains committed to working with stakeholders across the different arms of government to sustain and build on this progress. The company appreciates the emphasis placed on strengthening digital governance and remains ready to provide technical clarifications and support collaborative engagements that further advance Nigeria’s digital public service ecosystem.


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NITDA Equips Federal Character Commission with Data Tools to Drive Public Sector Reform

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In a strategic move to modernise Nigeria’s public service, the National Information Technology Development Agency (NITDA) has concluded a specialised digital capacity-building programme for the Federal Character Commission (FCC).

The initiative, which included the donation of 35 laptops, aims to transition the Commission from manual processes to a data-driven oversight model, ensuring more transparent and equitable representation across all government MDAs.

In alignment with President Bola Ahmed Tinubu’s key priority area of reforming the economy for sustained and inclusive growth, as well as improving governance for effective service delivery, it forms part of NITDA’s Digital Literacy for All (DL4All) programme aimed at strengthening digital capacity across public sector institutions and building a workforce equipped to drive Nigeria’s digital transformation agenda.

The training, held at the Commission’s headquarters, focused on enhancing participants’ competencies in critical areas such as data analysis and data management, skills considered essential to improving institutional performance and service delivery.

Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Acting Director of Digital Literacy and Capacity Building, Dr Ahmed Yusuf Tambour, explained the purpose of the intervention.

“We are here at the Federal Character Commission to carry out a training for staff of the Commission in the area of digital literacy to enhance their proficiency,” he stated.

He noted that the training was deliberately tailored to align with the Commission’s statutory responsibilities.

“We are particularly focusing on data analysis and data management, because this really aligns with the core mandate of the Commission,” he said.

The Federal Character Commission, which is responsible for monitoring and ensuring equitable representation in public service across Ministries, Departments and Agencies (MDAs), relies heavily on accurate and well-managed data to carry out its oversight functions.

By strengthening staff capacity in data handling and digital tools, NITDA aims to enhance the Commission’s ability to manage nationwide datasets efficiently and transparently.

Describing the programme as impactful and well-received by participants, Inuwa said, “So it’s been a great journey. We’ve trained 35 participants here, and the training has been very well received.”

As part of the intervention, NITDA donated 35 laptops to the Commission to facilitate continuous learning and enable staff to seamlessly integrate digital tools into their daily operations.

The gesture is expected to reinforce the sustainability of the training outcomes and improve workflow efficiency within the Commission.

Expressing optimism about the long-term benefits of the initiative, Inuwa added, “We are hoping that this will help the Commission to manage the very, very important data that they collect across all MDAs.”

The intervention reflects NITDA’s sustained commitment to deepening digital inclusion within government institutions under the Renewed Hope Agenda. By equipping public servants with practical digital skills and the necessary tools, the Agency is advancing institutional efficiency, strengthening data-driven decision-making, and supporting the Federal Government’s vision of a modern public service capable of driving inclusive national development and economic reform.


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Nigeria, EU Ink Research, Innovation Deal Worth €100Bn

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Nigeria and the European Union have inked a scientific and technology deal that grants access to about €100 billion in research and innovation funding for scientists, start-ups, and public institutions.

The agreement is a significant boost to the country’s tech environment, providing new prospects for research, innovation, and start-up growth.

The arrangement was signed in Abuja by Gautier Mignot, head of the EU delegation to Nigeria and ECOWAS, and Kingsley Udeh, Nigeria’s minister of innovation, research, and technology.

After more than two decades without a formal framework, the agreement transfers cooperation from informal to structured, large-scale collaboration.

The European Commission’s Horizon Europe programme, the world’s largest public research budget, is at the heart of the deal, which will bring together Nigerian researchers and firms to work on cross-border projects in health, agriculture, climate, food systems, and new technologies.

Udeh stated that the relationship puts Nigeria as a continental powerhouse for science and enterprise, with an emphasis on translating research into commercially viable products and assisting startups in scaling into global players.

Gautier Mignot noted that Nigerian organisations are already active in several Horizon-backed and global health research projects, but the new pact provides a legal and political framework to significantly expand participation, funding access and visibility.

To ensure delivery, both parties created a Joint Science and Technical Cooperation Committee to drive implementation and track measurable outcomes.

Beyond academia, the agreement aims to support innovators, boost university–industry collaboration, and help more Nigerian tech firms compete globally, strengthening Nigeria’s position as a leading startup hub in Africa.

 


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