Telecom
Shittu Says ICT Can Sustain Nigeria’s Economy
Adebayo Shittu, Minister of Communications, says Information and Communication Technology (ICT) could grow and sustain the Nigerian economy.
He spoke in Ibadan at the Eminent Person Business Lecture organised by University of Ibadan School of Business (UISB).
Shittu delivered a lecture entitled: “Maximising the Potentials of the Telecommunications Industry for Reversing Recession and the Economic Growth of Nigeria.’’
The minister said that the diversification of the Nigerian economy would not be enough to take the country out of recession except the process was done by leveraging on ICT in an effective and efficient manner
“The country is presently in a recession, but it is not because we are in it that we are concerned.
“We are concerned because each time there is a sharp drop in prices, we enter into a recession and we want to make sure that this cycle does not continue.
“And the only way we can do so is to diversify the economy by leveraging on ICT and moving the economy from being resource-based which it has been since independence,” he said.
Shittu stated that the role of ICT and telecommunications was very significant and critical in any society, particularly in Nigeria, which was striving to be a new nation by leveraging on ICT.
He said that the telecom sector alone contributed over 60 million dollars to the nation’s economy in the last 17 years of its existence.
“Given its immense contribution to economic growth, we are working assiduously with the National Assembly to declare all telecom infrastructure across Nigeria‘s critical National Assets,’’ he said.
The minister said that the there was compelling need for policy intervention in the form of a digital service strategy.
Shittu also said that the high cost of governance in comparison with digital service delivery, low level transparency, accountability and considerable resource leakages must not continue.
“The policy concept rests on a vision which envisaged the development of a sound digital infrastructure.
“This is pivotal to effective, efficient, transparent and accountable service delivery for improved quality of the social and economic life for the citizenry,” he said.
He said that the industry currently provides more employment than the oil and gas sector, adding that the industry contributed about 10 percent to the country’s Gross Domestic Product.
“The time has come to fully embrace ICT to enhance transparency and good governance if we really are to fulfil the ‘change’ mandate Nigerians voted President Muhammadu Buhari to bring about.
“It is arguably one of the fastest growing sectors of the Nigerian economy and is the second largest ICT market in Africa.
“Industry analysts have extrapolated that ICT tools and devices, software solution, IT outsourcing and e-commerce sectors alone could employ over 40 million Nigerians and contribute billions of dollars to our economy,’’ he added.
Shittu said that the mission was to deploy ICT in all the sectors in a very effective and efficient manner so as to diversify the economy in a sustainable manner.
He said that it was important to maximise the potentials and remained competitive for the economy to be strong to withstand shocks.
“Otherwise, after sometime, we will relapse to what the situation used to be and the problems would start again,” he said.
Dr Umar Mustapha, the Pro-Chancellor and Chairman of Council, University of Ibadan, said that there was still hope for the nation, considering the contribution of ICT to GDP and the millions of job it created.
Mustapha commended the Federal Government on the proposed construction of eight ICT hubs across the nation.
Prof. Idowu Olayinka, the Vice-Chancellor of the University of Ibadan, stated that UISB was established with a vision to make it the most preferred fountain of knowledge in business education, research and management.
Olayinka said that the establishment was not only for regional development but for the productive integration of the African continent into the global economy.
The Oluwo of Iwo, Oba Abdur-Rasheed Akanbi, called on government to embrace outsourcing and industrialisation of the country to ensure the transfer of technology.
The monarch enjoined government to engage more in land leasing rather than outright sale of land in the country.
News
NITDA Communications Director Hadiza Umar Named in 2026 PR Power List, Graces Glazia Magazine Cover
Mrs. Hadiza Umar, Director of the Corporate Communications and Media Relations Department at the National Information Technology Development Agency (NITDA), has been officially recognised as one of Nigeria’s top public relations professionals in the prestigious 2026 PR Power List.
The definitive annual list, compiled by GLG Communications in partnership with The Guardian, was unveiled to commemorate World PR Day.
It celebrates 50 outstanding professionals within Nigeria and the diaspora whose strategic communication strategies have significantly shaped organisations, influenced public discourse, and advanced the profession over the past 12 months.
Adding to the momentous milestone, Mrs. Umar was hit with a major surprise at the exclusive PR Power List Soirée and Awards ceremony held at the Alliance Française in Ikoyi, Lagos, where she was unveiled as a front-cover personality for the Glazia Magazine PR Power List Special Issue.
The double recognition highlights her exceptional distinction and impact in public sector communications and narrative management.
Speaking on the dual achievement, Mrs. Umar expressed profound gratitude for the honours, describing the magazine cover appearance as a breathtaking surprise.
“I am deeply humbled and honored to be recognized on the 2026 PR Power List and to feature on the cover of Glazia Magazine alongside other exceptional industry titans,” Umar said.
“This milestone is a testament to the enabling environment and visionary leadership of the Director General of NITDA, Kashifu Inuwa Abdullahi, CCIE, which has allowed us to strategically drive the narrative of Nigeria’s digital economy and technological innovation.”
Mrs. Umar, a highly respected corporate communications strategist, holds professional fellowships in the Nigerian Institute of Public Relations (Chartered), the African Public Relations Association (APRA), and the Institute of Corporate Administration (CICA).
Under her supervisory role, NITDA’s media relations have consistently projected national information technology frameworks, start-up support frameworks, and digital literacy initiatives, to position Nigeria competitively on the global stage.
The 2026 PR Power List selection process involved a rigorous, independent evaluation led by a distinguished international jury.
The organisers noted that the class of 2026 represents professionals raising the standard of strategic communications and introducing new ideas to the industry.
The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.
NITRA
The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.
Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.
Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.
According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.
It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.
The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.
The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria
The board of global payments company, PayPal, says a 53 billion dollars takeover offer from financial technology firm, Stripe, and private equity company, Advent International, does not adequately reflect the company’s long-term value.
PayPal
According to reports, the proposed acquisition, valued at 60.50 dollars per share, remains under consideration, with the board yet to formally respond to the offer.
The directors are said to be evaluating not only the financial value of the proposal but also the structure of the financing, the timeline for completing the transaction and the likelihood of obtaining regulatory approvals.
They are also considering the possibility of competing bids emerging.
Although the offer represents a premium of about 28 per cent above PayPal’s recent share price, the board believes the company could deliver greater value to shareholders if its ongoing turnaround strategy succeeds.
Following reports of the bid, PayPal shares gained about two per cent to close at 56.73 dollars.
Sources familiar with the discussions said Stripe and Advent have secured approximately 50 billion dollars in debt financing from JPMorgan and Morgan Stanley, while both firms would jointly contribute 17 billion dollars in equity.
Under the proposal, the two companies would jointly own PayPal instead of dividing its operations.
PayPal, Stripe, Advent International, JPMorgan and Morgan Stanley have all declined to comment on the proposed transaction.
The discussions come as PayPal seeks to strengthen its business after years of increasing competition from rivals including Apple Pay, Google Pay and emerging financial technology firms.
The company, which was valued at about 360 billion dollars in 2021, now has a market capitalisation of approximately 36 billion dollars.
Since assuming office as Chief Executive Officer in March 2026, Enrique Lores has embarked on a restructuring programme aimed at improving operational efficiency and restoring growth.
The restructuring includes the creation of three business divisions comprising Checkout, Venmo and Consumer Financial Services, and Payments and Crypto.
The company is also targeting 1.5 billion dollars in cost savings through the deployment of artificial intelligence technologies.
PayPal’s latest financial results indicated signs of recovery, with first-quarter revenue rising seven per cent year-on-year to 8.35 billion dollars, while total payment volume increased by eight per cent to 464 billion dollars.
If approved, the transaction would combine two of the world’s largest digital payments companies.
The combined business would process an estimated 3.7 trillion dollars in annual payment volume, significantly strengthening its position in the global online payments market.
However, analysts expect the proposed acquisition to face intense regulatory scrutiny because of the companies’ combined market share in merchant payment services.
To address possible antitrust concerns, the bidders have reportedly considered options, including separating PayPal’s Braintree business or other assets if required by regulators.
Sources said Stripe and Advent remain interested in pursuing the acquisition despite the board’s reservations, although negotiations are expected to continue.
Market observers are also awaiting PayPal’s earnings report scheduled for July 28 for further indications of the company’s financial recovery and future growth prospects.
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