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Using Blockchain To Re-Tool Nigeria’s Economy, By Chimezie

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Africa is home to 16.3 percent of humanity but home to less than one percent of the world’s billion-dollar companies and only about four percent of global GDP. Africa cannot afford, nor does it have to miss the possibilities of the fourth Industrial Revolution (4RI) to better her lot.

 

Blockchain, one of the most disruptive technologies of the 4IR is a type of distributed ledger technology best known as the architecture that underpins cryptocurrencies like bitcoin, but its potential applications go much further. Indeed, it promises to revolutionize the business and financial environment by reinventing processes, improving productivity and quality, reducing costs, and enhancing transparency.

 

According to Chuta Chimezie, coordinator Blockchain Nigeria User Group, combining blockchain with other technologies such as analytics and machine learning could make it even more powerful. He said that the profound changes the technology can deliver in unlocking value apply as much to the financial services industry as any other – and as much to the Nigeria as anywhere else in the world. Therefor, understanding blockchain’s potential is vital to banks, entrepreneurs, businesses and government agencies at different tiers across the country.

 

He stated that decentralized economics is already opening the door to a global, equitable “econosphere” enhancing the common man’s equality of opportunity to lift himself out of the poverty trap of debt bondage. For the first time in human history, mankind’s ingenuity and technological advancements have created the environment for the freedom to transact with hard money, sound money, ideal money, even pure money.

 

He said Nigeria’s most valuable asset is not its crude oil reserves, adding that its the 200million citizens, and their natural labour, harnessed equitably through DLT, which can collectively produce a powerful economic force, raising the GDP of the nation 10times without any external foreign intervention or investment.

 

Every Nigerian person has the right to be informed of this “fourth industrial revolution”, and take their rightful economic place.

 

He posited that the upcoming Blockchain, AI and Digital Assets conference in Lagos will highlight the new global emerging phenomenon of decentralized money, transacting, finance, investment, which will be accessible to the common man and oligarchs in equal measure. Decentralized economics is already opening the door to a global, equitable “econosphere”enhancing the common man’s equality of opportunity to lift himself out of the poverty trap of debt bondage.

 

According to him, at the event scheduled to hold in Lagos from 24 to 25 May 2019, attendees will discover how blockchain, Artificial Intelligence (AI), IoT, big data and virtual financial assets are altering and disrupting incumbents and creating new opportunities for forwarding thinking individuals.

 

Chimezie said that it would be an interactive event around the technologies of the fourth industrial revolution (4IR) to provide attendees with actionable insights that can be applied immediately to accelerate progress in any chosen career path.

 

Dr. Isa Ali Ibrahim Pantami, Director-General/ CEO National Information Technology Development Agency (NITDA), will be guest of honor and Mr. Andrew Nevin, Chief Economist at PwC, will deliver a keynote.

 

Panel discussants will be Akeem Ogunseni, Senior Manager Tax Services at EY; Boye Ademola, partner, Technology Advisory & Digital Transformation lead at KPMGAdvisory Services; Wole Oyeniran, Enterprise Platforms/Systems Integration Leader, West Africa, at Deloitte Consulting; Dr. Segun Aina, Chairman Fintech Associates/ President Fintech Association of Nigeria, Shamim Khan, Director, Lex Futurus (UK) Blockchain Regtech & Law Limited, Salisu Kaka Assistant Director, Head Blockchain at NITDA, and Ian Friend, cofounder/ COO Ferrum Network, NYC, among many others.

 

Others are Shamim Khan, Director, Lex Futurus (UK); Olutoyin J Oloniteru MD/CEO, Spindlar Cyberlaw Centre & Chairman, CEIAfrica; Tola Joseph Fadugbagbe CEO Cryptocurrency Master Class, Lagos, Nigeria, and Dr. Shadrach Egbokwu.

 

Chimezie said the conference would feature a melding of the AI and Blockchain/ Virtual Financial Assets communities in Nigeria and across the world, exploring the possibilities at the intersection of these technologies.

 

He also stated that the conference will bring together business leaders, government and regulatory agencies, data practitioners, AI and blockchain tech pioneers who are applying artificial intelligence to solve today’s problems and creating tomorrow’s opportunities, while leveraging available tools, to create entirely new values.


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E-Business

Galaxy Backbone Celebrates the Federal Government’s Paperless Civil Service Milestone

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Galaxy Backbone (GBB) aligns with and celebrates the successful announcement by the Office of the Head of the Civil Service of the Federation on the achievement of a Paperless Civil Service, a significant milestone in Nigeria’s public sector reform and digital transformation agenda.

The milestone was formally highlighted at a press briefing led by the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, who commended Galaxy Backbone for its sustained support and contribution throughout the implementation of the programme.

GBB has played a critical role in enabling this transition by providing secure, scalable, and shared digital infrastructure that supports the digitisation of government processes across Ministries, Departments and Agencies (MDAs). Through the 1Government Cloud, MDAs have been empowered to migrate from paper-based workflows to digital platforms, improving efficiency, collaboration, data security, and service delivery across the Federal Civil Service.

In addition, GovMail, GBB’s secure government email platform, has strengthened official communication, enhanced records management, and reinforced cybersecurity standards—key pillars in sustaining a paperless operating environment.

Galaxy Backbone acknowledges the collective efforts of the Office of the Head of the Civil Service of the Federation, Permanent Secretaries, Directors of ICT, consultants, partners, and dedicated public servants whose commitment and collaboration ensured the smooth delivery of this initiative.

The Managing Director/Chief Executive Officer of Galaxy Backbone, Prof. Ibrahim Adeyanju, was represented at the press briefing by Akintayo Bamisaye, Acting Group Head, Research, Digital Innovation and Skills Department (RDIS).

GBB describes the achievement as a strong close to 2025 and reaffirms its commitment to supporting the Federal Government in building a modern, efficient, and digitally enabled public service.


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Jumia CEO says Black Friday Signals Nigeria’s E-Commerce Maturity

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At the close of 2025, Temidayo Ojo, the CEO of Jumia Nigeria, reflected on a year-end shopping season that points to the growing maturity of the country’s e-commerce market. “Black Friday is no longer a single, short-lived spike in activity,” he said.

“It has become a familiar, anticipated moment in the retail calendar, where consumers shop deliberately and with confidence.”

Preliminary KPIs for the two months ended November 30, 2025, show strong year-on-year growth in both orders and Gross Merchandise Value (GMV), with GMV growth outpacing order growth. This indicates that customers are placing fuller, more considered baskets rather than shopping in fragmented transactions. Nigeria ranked among Jumia Group’s better-performing markets, with engagement remaining steady throughout the Black Friday period rather than spiking briefly and tapering off.

A key factor behind this performance is the growing familiarity of consumers with online shopping. Customers are increasingly leveraging platform features such as saved carts, brand stores, and price comparison tools to plan purchases in advance. This trend suggests that digital commerce is becoming embedded in everyday habits rather than being viewed as a one-off event.

Ojo also highlighted the role of Jumia’s JForce network in connecting digital commerce to local communities. “Our agents are critical to ensuring that customers across Nigeria, including secondary cities and smaller communities, have access to variety, consistent pricing, and reliable delivery,” he said. “During peak periods like Black Friday, JForce agents can respond faster, serve more customers efficiently, and build stronger local relationships. This isn’t just a distribution channel—it’s a pathway to sustainable income and inclusion.”

Reflecting on the overall performance, the CEO concluded: “What we’re seeing this year-end is steady engagement across categories, stronger consumer confidence, and partners like our JForce agents benefiting from increased activity.

“It confirms that Nigeria’s e-commerce ecosystem is maturing, growing in a more structured and resilient way. As the December Holiday Sale continues, we expect these patterns of familiarity, trust, and participation to sustain momentum and drive both commerce and community impact across the country.”


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Galaxy Backbone Tops FG’s Website Performance Ranking

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Galaxy Backbone Limited (GBB) has been ranked first overall in the 2025 Federal Government Website Performance Scorecard.

Galaxy Backbone Tops FG's Website Performance Ranking

This is a landmark achievement for Nigeria’s digital economy.

The ranking, conducted by the Bureau of Public Service Reforms (BPSR), is the definitive benchmark for digital excellence and transparency across all Ministries, Departments, and Agencies (MDAs).

Professor Ibrahim Adepoju Adeyanju, managing director and CEO of Galaxy Backbone, received the award during a ceremony in Abuja.

He described the feat as a validation of the agency’s“Nigeria First”data sovereignty strategy and its relentless pursuit of service excellence.

This recognition comes as the Federal Government intensifies its push to achieve a fully paperless civil service by December 31, 2025.

GBB has been the primary architect of this transition through its 1Gov Enterprise Content Management (ECM) platform, which now hosts the operations of almost all federal MDAs.

The award adds to a growing list of accolades for Galaxy Backbone in 2025, following its recent win of the “International Standard Excellence Award for Best IT Service Provider.”

As the central hub for government shared services, GBB’s performance serves as a blueprint for other agencies currently undergoing digital transformation.

With its expanded fiber-optic backbone now covering over 13 states and its secure cloud solutions, Galaxy Backbone remains the cornerstone of Nigeria’s vision to become a leading digital nation by the end of the decade.

 


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