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Software Can Generate $10b Annually if Harnessed-Obaro

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John Obaro is the managing director of SystemSpecs.
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John Obaro is the managing director of SystemSpecs. He has had a distinguished IT management career and is regarded as one of the most respected personalities in the Nigerian IT industry.

Under his leadership, and with a team of professionals with varied experience, SystemSpecs has attained the enviable position of Nigeria’s leading software house and aspiring to become the de-facto software institution in Africa.

Before establishing Systemspecs, Obaro worked with United Bank of Africa, International Merchant Bank (IMB) among others.

He spoke on issues around software development in the country.

Evolution of SystemSpecs In the Software Space
I left Intercontinental Merchant Bank (IMB) in 1992 as Head of Systems Department to start SystemSpecs.

This was after I led a team that implemented Nigeria’s first international banking application on a network linking Lagos and four other towns. 

By this laudable feat, I helped in pioneering Nigeria’s online real-time banking at a time when most banks were still debating its feasibility.

SystemSpecs started with a foreign financial and business application called SunSystems and due to demand from our clients then, we decided to develop HumanManager, a Payroll/HR application.

As the market developed and we began to envision the emergence of e-business and e-payment space in Nigeria, we went ahead to develop and introduce Remita, a world class e-Payment application into the Nigerian market.

Remita has today been adopted by all Nigerian banks and is used for the payment of all Federal Government contractors and employees under the Central Bank of Nigeria’s e-payment initiative.

Attaining leadership requires foresight, creativity, innovation, focus, excellence, discipline, hard work, resilience, patience and consistency; these are necessary roads that any successful entrepreneur must travel and we give God the glory for where we are today.

SystemSpecs is strictly a software company with focus on e-payments, financial and human resource management applications.

Challenges of Nigerian Software Industry
Nigeria, like most African countries that are in the developing nation’s league is predominantly plagued with “information poverty”.

Data is such a hard thing to find in Nigeria, so people just make up the numbers and the man that can shout the loudest gets the most attention. Unfortunately, you don’t really need to shout to win an argument if you have verifiable facts.

Today, no one can estimate the country’s earnings from software exports as they would for cocoa or oil export. 

According to National Office for Technology Acquisition and Promotion (NOTAP), the country loses over $1billion annually to software importation simply because most Nigerian companies prefer to import foreign off-the-shelves software to meet local needs where indigenous software could have provided better solutions.

Any software that comes from abroad was built mainly for that environment and anyone who uses it here is just a secondary user.

This has further thinned the potential of the Nigerian software market which by now should be in excess of probably $10billion annually if well harnessed.

There are some people who don’t believe in themselves, therefore, they cannot even believein their immediate environment.

Their belief is that something must come only from the western world for it to be good. I put that to ignorance.

However, this is not to say that I am not mindful of some challenges with a few locally developed software such as low quality assurance, non-scalability, improper documentation and packaging among myriads of other issues. If we don’t deliberately share success stories, no one will believe the indigenous software space is really worth the effort.

SystemSpecs’ Critical Success Factors
We have done a lot with the Remita integrated solution. You can’t get that anywhere in the world because they, for instance, do not have “ghost worker” challenges.

So, I will say it is high time government further encouraged the use and adoption of indigenous software in the country. I think with the right policies and awareness, indigenous software will blossom in the country.

Trends & Opportunities in the Nigerian Software Industry
Today, we live in a world that is driven by information technology and the software industry  which has been a source of galloping income for some countries is at the driver’s seat. 

A faster and more powerful economic and technological development has taken off in Africa and the Nigerian Software industry is likely going to easily become the most significant regional player going by current developments in the country.

There are so many opportunities for the software industry in a developing economy like Nigeria given the low capital entry requirements as well as the industry’s high value, high growth, high technology and knowledge-rich profile of software activities.

It is apparent that the industry requires skilled manpower but few raw materials which are not in any way damaging to the environment.

There is a big opportunity to remake the software space because of the fundamental shift of the software business focus from just the corporate market to the consumer experience.

The need to bring the consumer experience into the development and use of software is good ground for easy harvests. 

There should be sufficient home-grown software that can handle the day-to-day lifestyle of the Nigerian people.

The major requirement for the software industry is human capital and with the country’s size and abundant supply of low cost software engineers or graduates, majority of whom are self-taught, the country stands a chance to provide highly skilled professionals with absolute wage comparative advantage in the international software market.

 Nigerians are beginning to realize the importance of software for day-to-day activities and have therefore began to invest in this sector, although the rate at which the industry is growing is still at a very slow pace.

Cloud computing and mobile applications are also new trends in software development. In these areas there are so many opportunities for developers who know and understand these technologies.

Opportunities for Upcoming Software Developers
Software development is an art. You must develop some kind of stronginterest in it for you to succeed.

Apart from updating your knowledge and skills through training on new technologies, you must be focused and patient.

 There are lots of institutions with the right development programmes springing up to help interested persons in software engineering and related fields. So get up and get trained!

Whether as an employee or a self-starter, you will require mentorship for product and industry understanding.

Mentoring helps you to gain good momentum and quickly exit when your venture is not likely to succeed.

 Like I said earlier, you really have to be creative to succeed in the software industry.  It may already be too late trying to develop a banking application in Nigeria right now because we have lost that to the foreign players but when you understand what banking means to you as an individual you can develop software around it to address specific unmet or undiscovered needs.

This is why the mobile money application was so successful in Kenya unlike Europe where there are so many banks with several transaction platforms.

 To become a successful entrepreneur you must also develop certain skills in management, marketing and human relations.

Launching Pads for Entrepreneurs
Do not make money your goal, make the delivery of quality software your goal and remember this may take some time, and then money will come.

Be patient. A lot of software companies that will stand the test of time do take a long time to build.

 You may need to learn three vocabularies; “Partnership, Collaboration and Team execution”. Even marathon races have support.

This is one of the ways you can create safety net for yourself and mitigate the risk of wearing out during the software development phase as a self-starter especially knowing fully well that there are some heavyweights in the industry lurking around to offer you jobs rather than partnerships as a small developer.

Don’t be afraid to make mistakes but don’t make the same mistake twice. Be ready to fail. Unfortunately, today there is the stigmatization of failure in our environment.

The whole idea about success without failure is really funny.

The Remita product that the whole nation boasts of today was a product of a failed bid! Be creative and resilient in the execution of your business plan and it’s not just about business plans but the thinking behind the assumptions of your business plan that matters.

Be professional in managing people and finances and go to school to learn same if need be.

If you happen to require loans, seek help first from informal sources. If your friends and family have not invested in you, why should someone else?

You must develop a thick skin especially to survive the Nigerian business terrain and by this I mean a strong staying power; the ability to stay focused on what you believe to be a solution that can sell.

Understand the intellectual property laws and rights, and don’t be in a hurry to give out your code without protection. It could be costly.

Prospective Entrants into the Software Industry
Software industry is such an amazing one because of its potential for the economy of individuals and nations. India today makes more money from software than Nigeria makes from oil.

The richest companies in the world today are in the computer industry.

Records have it that half of the ten richest men in the United States made their money from software-related businesses.

However, more than making the money is the fulfillment of helping to solve daily life’s problems for people.

If you must enter the industry as an employee or entrepreneur, I will leave you with three words and they are “innovation, innovation, and innovation”.

Innovation is apt in designs and architecture, in business models, and in monetizing your solutions using cost effective solutions distribution mechanism.


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General News

Nigeria Relaunches National Talent Export Programme to Unlock $1 Trillion Global Outsourcing Market

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The Federal Ministry of Industry, Trade and Investment has announced the relaunch of the National Talent Export Programme (NATEP), a bold initiative led by the Honourable Minister, Dr. Jumoke Oduwole.

The renewed programme is designed to tap into the $1 trillion global outsourcing industry by positioning Nigeria’s youth as a world-class talent pool for digital and professional services.

“What we celebrate today is not merely the launch of a program; it represents the continuation of a vision to position Nigeria as a global leader in the future of work and services,” said Dr. Jumoke Oduwole, Honourable Minister of Industry, Trade and Investment.

“With digital transformation firmly embedded in President Bola Ahmed Tinubu’s economic vision, Nigeria is enhancing the infrastructure, systems, and policy tools necessary for an inclusive and innovation-driven future.”

In alignment with President Tinubu’s 8-point agenda, NATEP is designed to empower Nigeria’s youth, harness global service export opportunities, and drive inclusive economic transformation. With a youthful, English-speaking population, a strategic time zone, and rapidly advancing digital infrastructure, Nigeria is uniquely positioned to become a competitive global supplier of skilled talent.

Under the leadership of Dr. Oduwole, NATEP represents a strategic move to diversify Nigeria’s economy, boost foreign exchange earnings, and create sustainable employment.

The programme will focus on aggregating global demand and connecting it with Nigeria’s skilled workforce through structured and ethical talent export pathways.

The Ministry’s goal is to create 1 million direct export-linked jobs and up to 5 million indirect jobs within five years.

In addition, NATEP aims to attract over $1 billion in foreign direct investment to Nigeria’s growing service export economy. This programme targets high-impact sectors such as technology, business process outsourcing (BPO), the creative economy, healthcare, professional services, and remote work.

As part of this relaunch, Mrs. Teju Abisoye has been appointed as the National Coordinator of NATEP. A development finance expert with over two decades of experience, she has led major national employment initiatives and played key roles in government interventions, entrepreneurship support, and private sector engagement.

Her leadership brings clarity, focus, and execution strength to the programme’s vision.

Speaking at the relaunch, Teju noted, “Our mandate at NATEP is to position Nigeria as Africa’s peerless global talent hub by building an enabling ecosystem through policy, platforms, promotion, and partnerships.

We would actualise this critical national objective by upskilling and enabling Nigeria’s teeming young human capital to take advantage of the $1 trillion global service trade, with soaring demand for digital services, outsourcing, and remote work.

This is one of President Bola Ahmed Tinubu’s strategic interventions to tackle youth unemployment head-on, generate vital foreign exchange, and diversify our economy through service sector expansion”.

NATEP, a Special Purpose Vehicle under the Federal Ministry of Industry, Trade and Investment, has evolved from a basic outsourcing facilitator into a full-scale ecosystem enabler. The programme will now drive policy reform, expand digital infrastructure, strengthen international partnerships, and create reliable talent pipelines that match global standards.

Key components of NATEP include:

  • Training 10 million Nigerians in globally recognized digital and professional certifications
  • Incentivizing BPO and IT-enabled service companies to expand operations in Nigeria
  • Creating legal and ethical pathways for talent export in alignment with global labor needs
  • Building a national talent database to map skills and track employment opportunities
  • Partnering with global outsourcing platforms and employers to aggregate demand

In alignment with President Tinubu’s 8-point agenda, NATEP is designed to empower Nigeria’s youth, enhance foreign exchange earnings, and support inclusive economic transformation. With a youthful, English-speaking population, strategic time zone, and growing digital infrastructure, Nigeria is uniquely positioned to become a competitive global talent supplier.

Minister, NATEP Sign MoU with Alaro City and Itana

To mark this renewed direction, the Honourable Minister led a high-level delegation on an official visit to Alaro City, home to Itana, Nigeria’s first Digital Special Economic Zone, on Friday, May 30, 2025.

The Minister also leveraged the visit to execute a Memorandum of Understanding aimed at strengthening public-private sector collaboration and showcasing the infrastructure and innovation ecosystem that will support the programme’s success.

Dr. Oduwole stated, “I am proud to announce a significant milestone in this effort: the successful signing of a strategic agreement to create an initial 100,000 jobs across high-impact sectors — made possible through collaboration with platforms like Itana, Alaro City, and other partners to mark the beginning of a new phase of joint execution.”

 


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Uche Uzoebo, SANEF CEO Makes Case for More Financial Inclusion Strategies Targeting Women

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L-r: Dr Abubakar Nurudeen Zauro- Special Adviser to the Vice President on Economic and Financial Inclusion, Uche Uzoebo- MD/CEO SANEF, Sa’adatu Salley Regulatory Affairs Stanbic IBTC at Reg Tech awards held in Lagos recently.
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Leveraging digital infrastructure is key to accelerating financial inclusion, especially through a multi-stakeholder approach involving governments, fintechs, t​elecoms, regulators and even the customers.

According to the World Bank report, a significant portion of the global adult population remains unbanked.

Specifically, 27% of adults globally are considered unbanked, and an additional 50% are underbanked, defined as lacking a credit card, , according to Lucidity Insights.

By investing in awareness, robust digital ID systems, interoperable payment rails, and inclusive policy frameworks, stakeholders can expand access to financial services, particularly in underserved regions, and reduce the global unbanked population significantly.

Stakeholders who gathered at the Regtech Conference 2025 discussed these strategies and more, especially facilitating cross-border payments and investment opportunities across Africa.

The event featured a thought-provoking panel discussion moderated by Uche Uzoebo, the Chief Executive Officer (CEO) of Shared Agent Network Expansion Facilities (SANEF) Limited.

The panel discussion themed, “From Borders to Bridges: Leveraging Digital Infrastructure to Drive Financial Inclusion through a Multi-Stakeholder Approach”, brought together diverse voices across banking, fintech, policy, and government to explore how digital infrastructure can be annexed to drive financial inclusion.

Uzoebo highlighted how women often face unique challenges in accessing financial services coupled with limited digital literacy and cultural barriers.

She engaged the panelists to discuss targeted interventions aimed at promoting gender inclusivity in the financial sector and effective financial education programs that empower individuals to utilize digital financial services.

Jacqueline Mpare, Head of Agency Banking, Ecobank Group, highlighted how her organization had established a women-focused initiative to provide support to businesses targeted at women and those with women as part of the leadership by providing them with access to finance and non-financial support.

Isa Aliyushata, Regional Advisor, Africa, Corum Group Limited, stressed the need to inculcate financial literacy into the education curriculum to ensure everyone is exposed to the knowledge of financial literacy from a young age.

The panelists include Ajibade Laolu-Adewale, Chief Partnership & Ecosystems Officer, Wema Bank; Gerald Munyaradzi Nyakwawa, Head of Digital Channels, MoneyMart Finance (Private) Limited, Zimbabwe; Dr. Henry Clarke Kisembo, Group Global Lead and Executive Chairman, Development Associates Link International (DALI); Jacqueline Mpare, Head of Agency Banking, Ecobank Group; Jean Jacques Kajuga, Chief Operations Officer, RSwitch Rwanda; and Isa Aliyushata, Regional Advisor, Africa, Corum Group Limited.

The panelists emphasized collaboration, leading by example, speed and legislative alignment, a unified infrastructure payment system, and collaboration between national and regional switchers to allow a low-cost cross-border payment as key to ensuring financial inclusion.

Meanwhile, her organization, Shared Agency Network Expansion Facilities (SANEF), was honored with the title of 2025 Financial Literacy Champion at the RegTech Awards. This prestigious recognition highlights SANEF’s steadfast commitment to promoting financial literacy and enhancing financial inclusion across Nigeria. Through strategic partnerships, the expansion of agent networks nationwide, and impactful educational programs, SANEF continues to equip millions with the knowledge and tools to make informed financial decisions.


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Hydrogen, Lagos State Touch Thousands of Business Owners with “Healthy Heart, Healthy Business” Outreach

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As part of its continued effort to support the growth and sustainability of Nigerian enterprises, Hydrogen Payment Services Company Limited joined forces with Ikeja Local Government Area and the Office of the Medical Officer of Health to deliver the impactful “Healthy Heart, Healthy Business” outreach on Wednesday, May 28, 2025, at the Ikeja Local Government Secretariat.

The initiative successfully engaged a wide range of business owners through a combination of in-person participation and extensive digital awareness campaigns.

Participants benefited from a comprehensive range of free medical screenings, including blood pressure checks, ECGs, malaria and typhoid testing, urinalysis, packed cell volume (PCV), blood sugar monitoring, and more, highlighting the critical connection between good health and business longevity.

Kemi Okusanya, CEO of Hydrogen, commented on the initiative, affirming Hydrogen’s passion for the growth of businesses.

“At Hydrogen, we are deeply committed to the success of Nigerian businesses. As a payment solutions provider, we recognise that healthy entrepreneurs build stronger, more resilient enterprises. This outreach exemplifies our belief in supporting entrepreneurs beyond just payments.”

Demonstrating this responsibility, Hydrogen donated Sphygmomanometers and Glucometers to indigent and high-risk attendees unable to afford this essential health monitoring devices, empowering them to manage their health beyond the outreach.

Public-private partnerships (PPPs) have become increasingly important in driving sustainable development across various sectors.

By leveraging the unique strengths of both government institutions and private enterprises, PPPs enable more efficient delivery of services, innovation, and expanded reach. These collaborations foster shared responsibility and resource pooling, making it possible to tackle complex challenges that neither sector could effectively address alone.

Dr. Tawak O.F., Medical Officer of Health for Ikeja, spoke on this, saying, “This partnership with Hydrogen Payment Services Company Limited exemplifies the power of effective public-private collaboration in reaching the heart of our business community.”

“Entrepreneurs often overlook their health while striving for success, but initiatives like this remind us all that good health is an essential part of wealth. We commend Hydrogen for their commitment to not just powering payments, but also powering healthier, more resilient businesses through impactful community engagement,” She added.

Mary, one of the beneficiaries and a merchant in ‘Computer Village’, expressed her gratitude, saying that, “Most of us don’t think about regular hospital checkups. Mainly, because the cost is too high and some things now are not covered by insurance. Today, Hydrogen and Lagos State have brought doctors for free to our doorstep, and we are very grateful.”

Hydrogen’s full team presence at the event reaffirmed the company’s dedication to forging genuine relationships and standing firmly with the business communities it serves.

 


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