E-Business
Report Says 44 Per cent of Nigerian Firms Paid Ransom for Hijacked Data in 2021

Some 71 per cent of Nigerian businesses were hit by ransomware attacks in 2021 while 44 per cent of the affected firms paid ransom to retrieve their data back, a report by Sophos, a United Kingdom (UK) cybersecurity solutions firm reveals.

The survey report titled, ‘The State of Ransomware 2022′, carried out in 31 countries showed that Nigerian businesses hit by ransomware attacks rose from 22 per cent in 2020 to 71 per cent in 2021.
Targets hit by the attacks were asked to pay a ransom, according to the report.
It also revealed that 44 per cent of Nigerian businesses paid an average sum of $3.43 million in 2021 to rectify the attacks compared to $0.46 million paid in 2020.
More victims are paying the ransom — In 2021, 44 per cent of organisations that had data encrypted in a ransomware attack paid the ransom.
“The impact of a ransomware attack can be immense — the average cost to recover from the most recent ransomware attack in 2021 was $3.43m,” the report said.
Ransomware attacks involve the infection of computers with malicious software, often downloaded by clicking on seemingly innocuous links in emails or other website pop-ups that lock users out of their systems, with the demand of a ransom to be paid to restore computer functions.
Giving no details of the companies involved, the report says Nigerian firms took an average of one month to recover from damage and disruption by ransomware, revealing a slow recovery time.
However, the report disclosed that 97 per cent of organisations affected said the attack had impacted their ability to operate, while 96 per cent of the victims lost business or revenue because of the development.
According to the report, 62 per cent of Nigeria’s organisations have cyber insurance while 38 per cent have cyber insurance but with exceptions/exclusions in the policy.
“Many organisations rely on cyber insurance to help them recover from a ransomware attack, 81 per cent of mid-sized organizations had cyber insurance that covers them in the event of a ransomware attack – and, in 97 per cent of incidents, the insurer paid some or all the costs incurred,” the report read.
The report analysed the impact of ransomware on 5,600 mid-sized organisations in 31 countries in Europe, the United States, Asia-Pacific and Central Asia, the Middle East, and Africa.
Chester Wisniewski, principal research scientist at Sophos, said that the proportion of victims paying the ransom increased, even when they may have other options available.
He alluded the development to several factors.
“There could be several reasons for this, including incomplete backups or the desire to prevent stolen data from appearing on a public leak site. In the aftermath of a ransomware attack, there is often intense pressure to get back up and running as soon as possible.
“Restoring encrypted data using backups can be a difficult and time-consuming process, so it can be tempting to think that paying a ransom for a decryption key is a faster option. It’s also an option fraught with risk,” he said.
A 2019 report by Serianu revealed that Africa lost $3.5 billion to cyberattacks. Nigeria was the hardest hit with losses of $649 million, followed by Kenya with $210 million, and Tanzania with $99 million.
Wisniewski added that the number of organisations directly impacted by ransomware has almost doubled within the last twelve months.
“Organisations don’t know what the attackers might have done, such as adding backdoors, copying passwords, and more. If organizations don’t thoroughly clean up the recovered data, they’ll end up with all that potentially toxic material in their network and potentially exposed to a repeat attack.”
E-Business
How Africa Can Turn the AI Wave into Inclusive Growth

By Shameel Joosub
For centuries, Africa has powered global economic growth through its resources, labour, and human potential, yet too little of that prosperity has been realised on the continent itself. Today, artificial intelligence presents a rare opportunity to change that trajectory.

As the global economic order undergoes its most significant transformation since the end of the Second World War, Africa stands at a decisive inflection point.
With the world’s youngest population, rapidly expanding digital adoption, and vast untapped potential, Africa is uniquely positioned not just to participate in the AI era, but to help shape it.
Realising this opportunity, however, will require deliberate investment, enabling regulation, and a commitment to ensuring that the benefits of AI reach all 1.5 billion people across the continent.
When I reflect on AI, what strikes me most is that it is enabled by humanity.
Intelligence is fundamentally human, and AI is an extraordinary amplifier of human creativity and capability.
It is not about replacing people. It is about empowering them to do more, faster, and better.
While this progress is remarkable, our responsibility as African businesses is to extend these capabilities beyond our corporate walls so that AI can unlock Africa’s underutilised potential and drive inclusive growth.
Unlocking Africa’s Potential Across Industries
As a purpose-led African connectivity and digital services company serving 223.2 million customers across South Africa, the DRC, Egypt, Ethiopia, Kenya, Lesotho, Mozambique, and Tanzania, Vodacom has invested strategically in AI across multiple sectors.
Our mobile networks reach a population of 588 million people. That reach must translate into opportunity.
Consider agriculture. One of our subsidiary companies, Mezzanine, leverages AI to unlock previously invisible insights into soil composition, empowering farmers to make data-driven decisions that improve crop yields and profitability.
When farmers thrive, food security strengthens and rural communities prosper. That is inclusive growth in action.
In financial services, AI is strengthening trust and security. In Kenya, Graph Network Analytics enhances M-Pesa fraud detection by mapping money movements in real time, helping protect more than 37 million customers who rely on the service in their daily lives.
As criminals target digital payment platforms, AI helps predict and prevent fraud scenarios, including SIM swap fraud and identity theft.
AI is also supporting national infrastructure. In South Africa, connectivity and IoT solutions monitor coal transport in real time from pit to port to power station.
This improves operational efficiency and supports energy security, addressing critical infrastructure challenges that have constrained economic growth.
These are not isolated examples. They represent a broader truth. Technology delivers its greatest value when it solves real problems for real people.
The Infrastructure Imperative: Modernising Regulation
Yet none of this is possible without one fundamental prerequisite: connectivity. Connectivity requires sustained investment in infrastructure, supportive policy environments, and regulatory frameworks that enable innovation.
If Africa is serious about universal access, modern and enabling regulation is essential. Spectrum licensing must be efficient and predictable. Infrastructure sharing must be supported. Universal service funds must be effectively deployed. Administrative barriers to infrastructure rollout must be reduced. Cloud and data platforms, which power AI capabilities, must be supported through enabling policy environments. These are not peripheral issues. They are fundamental to accelerating Africa’s digital and economic transformation.
These challenges represent only a portion of the regulatory barriers that must be addressed to deliver affordable, reliable connectivity to all Africans.
Pan-African Coordination: Our Collective Responsibility
Africa’s greatest advantage is its youth, but demographics alone will not deliver growth. To realise this potential, we must actively skill up young people in our schools and universities so they can take full advantage of an AI-driven future.
That requires modernising education curricula to embed AI literacy, data capability and practical problem-solving at scale. Companies like Vodacom are investing in digital skills development, but unlocking Africa’s potential will require coordinated action across government, academia and industry.
This is why governments and intergovernmental institutions such as the African Development Bank Group, the African Union, SADC, ECOWAS, and other regional bodies play a critical role in harmonising regulatory frameworks across the continent. Greater coordination can accelerate investment, enable scale, and support the development of an integrated digital economy.
Pan-African alignment of telecommunications regulation is not merely a technical objective. It is essential to unlocking inclusive growth and ensuring that Africa can compete effectively in the global digital economy.
Our Moment
Africa has long contributed to global progress. In the AI era, it has the opportunity to define its own future as a creator of innovation, productivity, and inclusive growth. The foundations are already in place. Our young population, expanding connectivity, and accelerating digital adoption position the continent to lead in ways that were not previously possible.
But this outcome is not guaranteed. It depends on the choices we make now. By modernising regulation, investing in connectivity as foundational infrastructure, and ensuring that AI empowers individuals, businesses, and communities, Africa can secure its place as a central force in the global digital economy.
That is the Africa I believe in. That is the Africa we are building at Vodacom, connecting people, enabling opportunity, and ensuring that technology serves the progress of society as a whole
Shameel Joosub, is group Chief Executive Officer, Vodacom Group
Source: Tech Africa News
E-Business
FG Moves to Strengthen Children’s Online Safety

Nigeria has begun consultations on plans to introduce age restrictions for social media use, as Africa’s most populous country joins the global trend of strengthening protections for children in the digital space.

The Ministry of Communications, Innovation and Digital Economy this week launched a nationwide survey inviting parents, educators, young people and technology experts to help shape policies aimed at regulating children’s access to social media and other digital platforms.
The consultation comes amid rising concerns over online risks facing Nigerian minors as smartphone ownership and internet usage continue to increase across the country.
Dr. Bosun Tijani, Minister of Communications, Innovation and Digital Economy, said the government is seeking a balanced approach that protects children while preserving the educational and social benefits of digital access.
“While the internet offers significant opportunities for learning, creativity, and communication, it also exposes children to risks such as cyberbullying, harmful content, online exploitation, misuse of personal data, and emerging challenges linked to artificial intelligence tools,” Tijani said.
The proposed framework could include age restrictions on social media platforms, stronger age-verification systems, and tougher accountability requirements for technology companies.
“As Nigeria evaluates potential policy approaches for protection of children online, including age restrictions, improved age verification systems, platform accountability measures, and enhanced regulatory oversight, public input is essential,” Tijani added.
The move follows alarming findings from a 2025 study cited by Nigeria’s telecom regulator. According to the Nigerian Communications Commission (NCC), nine in ten Nigerian children face at least one form of cyber risk online.
Nigeria’s push reflects a broader global trend as governments tighten online safety rules for minors.
Australia, for instance, implemented a social media ban for children under 16 in December 2025, requiring platforms such as TikTok, Instagram and YouTube to restrict access. Indonesia has also announced plans to bar under-16s from social media, while France and Denmark are pursuing similar restrictions for users under 15.
Similarly, Nigeria is confident that feedback from the public survey will help shape an evidence-based policy framework aimed at creating a safer digital environment for children.
E-Business
Nigeria’s Non-Oil Exports Hit N12.36trn in 2025 – NBS

Nigeria’s non-oil exports rose sharply to N12.36 trillion in 2025, up from N9.09 trillion in 2024, according to the National Bureau of Statistics’ Foreign Trade in Goods Statistics report.

The performance underscores ongoing efforts to diversify the economy away from crude oil, with stronger activity recorded in agriculture, manufacturing, solid minerals and other value-added sectors.
The data show that non-oil exports, which stood at N3.14 trillion in 2022 before slipping to N2.56 trillion in 2023, rebounded strongly in 2024 and climbed further in 2025, pointing to a sustained recovery across several industries.
Monthly figures for 2025 indicate relatively steady performance: exports were N1.23 trillion in January, N964.73 billion in February, and N975.45 billion in March. They rose to N1.22 trillion in April, then moderated to N903.02 billion in May and N923.13 billion in June.
In the second half, non-oil exports again firmed up, recording N1.23 trillion in July, N875.62 billion in August and N894.18 billion in September.
October exports stood at N965.60 billion, while November and December closed stronger at N1.07 trillion and N1.11 trillion respectively, reflecting consistent trade activity through most of the year.
A breakdown of the figures shows that mineral products were the top non-oil export earners in 2025. Other major contributors included prepared foodstuffs, beverages, spirits and tobacco, as well as products of the chemical and allied industries.
Agricultural exports were also significant, with vegetable products valued at N1.54 trillion, while live animals and animal products accounted for N103.4 billion.
Vehicles, aircraft and associated transport equipment generated N1.10 trillion in export earnings, and base metals and metal products contributed N646.16 billion.
Exports of stone, plaster, cement and ceramic products were valued at N369.58 billion, plastics and rubber at N244.17 billion, and machinery, boilers and mechanical appliances at N207.48 billion.
Several smaller categories collectively bolstered overall performance. Raw hides and leather products brought in N48.39 billion, footwear N27.34 billion, paper products N19.60 billion, and textiles N16.55 billion.
Miscellaneous manufactured articles recorded N22.85 billion, optical and measuring instruments N6.69 billion, precious stones N511.8 million, and wood products N636.99 million.
The latest figures, analysts say, highlight the growing role of non-oil exports in Nigeria’s trade profile and the potential for further growth as government policies continue to support production, value addition and market access in non-oil sectors.
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