Telecom
Recovery Costs for Ransomware Attacks on 2 Critical Infrastructures Quadruples to $3m in 1 Year – Sophos Survey Finds
Sophos, a global leader of innovative security solutions for defeating cyberattacks, today released a sector survey report, “The State of Ransomware in Critical Infrastructure 2024,” which revealed that the median recovery costs for two critical infrastructure sectors, Energy and Water, quadrupled to $3 million over the past year.
This is four times higher than the global cross-sector median. In addition, 49% of ransomware attacks against these two critical infrastructure sectors started with an exploited vulnerability.
Data for the State of Ransomware in Critical Infrastructure 2024 report comes from 275 respondents at energy, oil and gas, and utilities organizations, which fall under the Energy and Water sectors of CISA’s 16 defined critical infrastructure sectors.
The results for this sector survey report are part of a broader, vendor-agnostic survey of 5,000 cybersecurity/IT leaders conducted between January and February 2024 across 14 countries and 15 industry sectors.
“Criminals focus where they can cause the most pain and disruption so the public will demand quick resolutions, and they hope, ransom payments to restore services more quickly.
“This makes utilities prime targets for ransomware attacks. Because of the essential functions they provide, modern society demands they recover quickly and with minimal disruption,” said Chester Wisniewski, global Field CTO.
“Unfortunately, public utilities are not only attractive targets but vulnerable to attacks on many fronts, including the requirement for high availability and safety, as well as an engineering mindset focused on physical security.
“There’s a preponderance of older technologies configured to enable remote management without modern security controls like encryption and multifactor authentication. Like hospitals and schools these utilities are frequently operating with minimal staffing and without the IT staffing required to stay on top of patching, the latest security vulnerabilities and the monitoring required for early detection and response.”
On top of growing recovery costs, the median ransom payment for organizations in these two sectors jumped to more than $2.5 million in 2024—$500,0000 higher than the global cross-sector median.
The Energy and Water sectors also reported the second highest rate of ransomware attacks. Overall, 67% of the organizations in these sectors reported being hit by ransomware in 2024, in comparison to the global, cross-sector average of 59%.
Other findings from the report include:
· The energy and water sectors reported increasingly longer recovery times. Only 20% of organizations hit by ransomware were able to recover within a week or less in 2024, compared to 41% in 2023 and 50% in 2022. Fifty-five percent took more than a month to recover, up from 36% in 2023. In comparison, across all sectors, only 35% of companies took more than a month to recover
· These two critical infrastructure sectors reported the highest rate of backup compromise (79%) and the third highest rate of successful encryption (80%) when compared to the other industries surveyed
“This once again shows that paying ransom payments almost always works against our best interests. An increasing number (61%) paid the ransom as part of their recovery, yet the amount time it took to recover was extended.
“Not only do these high rates and amounts of ransoms encourage more attacks on the sector, but they are not achieving the claimed goal of shorter recovery times,” said Wisniewski.
“These utilities must recognize they are being targeted and take proactive action to monitor their exposure of remote access and network devices for vulnerabilities and ensure they have 24/7 monitoring and response capabilities to minimize outages and shorten recovery times.
“Incident response plans should be planned in advance, the same as for fires, floods, hurricanes and earthquakes, and be rehearsed on a regular schedule.”
Nigeria, through the Nigerian Communications Commission (NCC), has won the 2025 World Summit on the Information Society (WSIS) prize for its project, the Digital Awareness Programme (DAP), under Category C3, which is on Access to Information and Knowledge.
L–R: Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, receives the WSIS 2025 Prize (Category C3: Access to Information and Knowledge) from the Secretary-General of the International Telecommunication Union (ITU), Doreen Bogdan-Martin, following the selection of the Commission’s Digital Awareness Programme (DAP) as winner of the category.
The DAP, one of hundreds of projects submitted for the WSIS Prizes competition 2025, received the highest number of votes in its category, earning it the top honour. The programme equips secondary schools across the country with Information and Communication Technology (ICT) resources and provide internet connectivity to support teaching, learning, and research. Since inception in 2006, over 300 schools across Nigeria’s six geopolitical zones have benefitted from the programme.
The Executive Vice Chairman of the NCC, Dr. Aminu Maida, received the award during the WSIS Prizes Winners 2025 Ceremony held on Monday in Geneva, Switzerland.
In his acceptance remarks, Dr. Maida thanked the hosts, the International Telecommunications Union (ITU) and WSIS, for recognising Nigeria’s efforts in promoting inclusive digital access across Nigeria, noting that the award would serve as further motivation for the Commission.
“This recognition is more than a celebration of past efforts—it is an encouragement to press forward. It affirms that investing in digital inclusion is investing in national development, and that Nigeria’s work is being seen and valued on the global stage,” Dr. Maida said.
Four other Nigerian projects—the Women Techsters and the Advanced Digital Empowerment Programme for Tertiary Institutions (ADEPTI) under Capacity Building, the Telecom-Based Research Grant Initiative under Enabling Environment, and the Digital Learning Initiative under e-Learning—were also celebrated for their nomination for the Champions Category of Projects at the WSIS Prizes Ceremony. Although they were not among the top-voted entries, they were acknowledged for their significant merit and impact.
The WSIS Prizes competition recognises and promotes projects that effectively leverage ICTs to advance sustainable development. The competition showcases how technology can serve as a powerful tool for addressing global challenges and achieving the SDGs. Projects from around the world are recognised annually, highlighting diverse approaches to building an inclusive information society.
The World Summit on the Information Society (WSIS) is a United Nations (UN) initiative aimed at building a people-centred, inclusive, and development-oriented information society. It provides a multi-stakeholder platform to address issues related to Information and Communication Technologies (ICTs) and their role in achieving sustainable development.
The Forum is an annual event that brings together high-level representatives from governments, the private sector, civil society, academia, the technical community, and international organisations. It serves as a global platform for implementing the WSIS Action Lines, which are aligned with the UN Sustainable Development Goals (SDGs).
Nigerian Communications Commission (NCC) has given telecom tower operators in the country August 2025 deadline to fix persistent network hitches in their facilities or face regulatory sanctions.
The Executive Vice Chairman (EVC) of the commission, Dr. Aminu Maida, reportedly gave the ultimatum during a high-level meeting with key industry players, attended by representatives of IHS Towers, American Tower Corporation (ATC), and Pan-African Towers, and mobile network operators (MNOs) in Abuja
According to sources, discussions at the meeting focused on the recurring challenges in the telecoms sector, particularly power failures, equipment malfunctions, and insufficient site maintenance, that have been causing poor Internet and call services in the country
Specifically, Maida tasked the tower operators on the imperative of complying with the NCC’s updated Quality of Service (QoS) framework, which now extends performance obligations to infrastructure providers, not just telecom service providers.
According to him, the timeline given by the commission is more than enough time for all parties to align with the performance standards expected of them.
Recently, to ensure compliance with the standards, the NCC introduced a Major Incident Reporting Portal for real-time outage disclosures; developed public performance dashboards to enhance transparency; mandated that telecom tower companies meet strict Key Performance Indicators (KPIs).
Although the tower operators had previously cited delayed payments from MNOs as a reason for service lapses, the NCC had dismissed the justification, insisting that all parties must meet their obligations.
The EVC maintained: “Operators must fulfill both their technical and financial responsibilities. Poor service delivery—regardless of internal disputes—will attract consequences.”
Available data on the telecom tower infrastructure shows that IHS Towers has the largest assets with 16,000–19,000 sites, (62% market share); compared to American Tower Corp’s (ATC’s) about 8,270 towers; and Pan-African Towers’ 760–1,000 sites nationwide.
The latest NCC’s August deadline is believed to be putting pressures on the tower operators to improve the quality of their facilities for improved services as the commission had hinted of its plan to sanction defaulting operators with fines or stricter regulatory actions.
Industry experts believe that the NCC’s directive is a welcomed development as it will ensure reliable Internet connectivity and improved services quality for telecom consumers in the country.
Nigerian Communications Commission (NCC) is set to play a pivotal role at the upcoming 6th edition of the Telecom Sector Sustainability Forum (TSSF 6.0), where it will lead a critical discussion on the sustainable growth of Mobile Virtual Network Operators (MVNOs) in Nigeria.
Set against a backdrop of innovation and opportunity, this forum, organized by Business Remarks, aptly themed “Unlocking Nigeria’s MVNO Potential: Status, Trends, Investment, and Future Prospects,” is scheduled for August 26, 2025. This event reinforces the nation’s commitment to fostering a robust, competitive, and inclusive telecommunications landscape.
The forum will bring together a diverse array of key stakeholders from across the telecom ecosystem to deliberate on strategies for integrating MVNOs effectively into Nigeria’s rapidly evolving digital economy. With the recent advancements in technology and the issuance of 43 MVNO licenses to new players, MVNOs are poised to significantly enhance service delivery, drive digital transformation, penetrate underserved markets, and stimulate healthy competition across the sector.
As the global MVNO market is experiencing significant growth, with projections indicating continued expansion, experts believe that with the right regulatory environment and access to infrastructure, emerging markets like Nigeria can leverage MVNOs to unlock new value for both operators (by utilizing excess network capacity) and customers. Customers can enjoy a rich array of niche value-added services tailored to their needs.
Having been proactive in introducing a five-tier MVNO licensing classification, each with distinct services and a 10-year validity period, signaling a clear path for new entrants, the telecom regulator (NCC) will deliver a keynote address outlining the Commission’s regulatory framework, interventions, and commitment to ensuring a conducive environment for MVNO operations.
Mrs. Bukola Olanrewaju, Convener of the forum and Managing Editor of Business Remarks, emphasized the importance of collaboration. “TSSF 6.0 is designed to be a melting pot of ideas, bringing together Mobile Network Operators (MNOs), MVNOs, telecoms infrastructure providers, Internet Service Providers, industry associations, and technology experts,” she said.
“Our goal is to ignite discussions that will shape the future of MVNOs in Nigeria, ensuring their sustainable growth and their critical role in extending digital prosperity across the nation.”
The forum will feature interactive sessions, thought-provoking panel discussions, insightful paper presentations, and abundant networking opportunities. This event aims to provide a platform for stakeholders to share insights, address challenges, and explore collaborative pathways for sustainable growth.
NIPOST to Crack Down on Criminal Courier Operators
DICON, Saudi Firm to Produce Drones, Satellites in Nigeria
Secret Service Seizes $400M in Crypto, Cold Wallet among World’s Largest
FG Says No Going Back to Nuclear Testing
Nnamani, CEO Digital Realty Nigeria Bags Digital Economy Icon of the Year @ Digital Innovation Awards in Ghana
Telecom1 day agoY’ello Care’s 21-Day Campaign Bridges Digital Divide for Thousands Nationwide
General News1 day agoEnugu Air Commences Operations Today
E-Business1 day agoGalaxy Backbone, Rural Electrification Agency Commit to Deepening Digital and Energy Access Across Nigeria
Broadcasting1 day agoNDPC Slaps Multichoice with ₦766M Fine for Data Privacy Violations
News1 day agoLagos-Calabar Highway Gets $100M Push from ECOWAS to Drive Regional Growth
Telecom1 day ago20 Years of Digital Leadership: Layer3’s Legacy and the Road Ahead
News1 day agoNBS May Release Rebased Figures for Nigerian Economy July 11
Telecom7 hours agoNCC Wins Global ICT Award for Digital Awareness in Schools