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FG unveils cloud policy, targets $750m investment in 24

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Tag: Digital economy

Policy and Regulations

FG unveils cloud policy, targets $750m investment in 24 months

The Federal Government of Nigeria has unveiled a National Digital Cloud Policy aimed at attracting $750 million in private investment into Nigeria’s cloud and data infrastructure within 24 months. The policy, unveiled by the Federal Ministry of Communications, Innovation and Digital Economy, on Monday, is designed to expand local cloud and data centre capacity, create […]

New SEC regulation to enhance transparency in bank recapitalization
Finance

SEC cautions fintechs on rising risks in digital finance

The Securities and Exchange Commission Nigeria has warned fintech operators that technology, while expanding access to investment opportunities, can also magnify risks if not properly managed. This caution came during the first biannual SEC Regulator–FinTech Clinic. Rabi Maidawa, fund authorisation officer at the commission, addressed the event. She explained that technology-driven platforms do not remove […]

80% of Nigeria pharmacies now prefer digital payment methods — Report
E-commerce

Digital payments now handle 43% of Nigeria’s fuel transactions

Digital payment channels now account for 43 per cent of fuel transactions in Nigeria, underscoring a rapid shift away from cash in the country’s downstream oil and gas sector, according to a new case study released by financial services platform Moniepoint. The study, titled “Fuelling the Nation: How Moniepoint Powers Nigeria’s Oil and Gas Industry”, […]

Opinion

Cash remains vital amid digital payments surge — Access Bank GM

Nigeria’s digital payments landscape is expanding rapidly, yet cash continues to play an indispensable role in economic activity, supporting financial inclusion and operational efficiency across various segments of the economy. This observation was made by the General Manager and Group Head of Retail Operations at Access Bank Plc, Abraham Aziegbe. He spoke ahead of the […]

80% of Nigeria pharmacies now prefer digital payment methods — Report
Finance

Nigeria emerges digital payments leader in Africa

Nigeria has emerged as a leading force in Africa’s rapidly expanding digital payments ecosystem, as instant payment systems across the continent processed transactions valued at nearly $2 trillion in 2024, according to a new report. The State of Inclusive Instant Payment Systems 2025 Report, released by the AfricaNenda Foundation in collaboration with the World Bank […]

Economy

Nigeria, Sierra Leone seal MoUs to boost W’Africa digital economy

Nigeria has enhanced its regional digital cooperation after the Honourable Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, led a high-level delegation to Sierra Leone for the Nigeria–Sierra Leone Digital Economy Bilateral Trade Mission. The mission resulted in the sealing of multiple Memoranda of Understanding intended to boost innovation, cybersecurity, and cross-border digital […]

Telcos to receive $1bn network equipment in July — Minister
Economy

FG to invest ₦12bn in digital economy research projects

The Federal Government on Tuesday said it would invest ₦12 billion to fund digital economy research projects to ensure the country benefits from digital transformation dividends. The Minister of Communications and Digital Economy, Dr. Bosun Tijani, said this at the opening ceremony of the 18th edition of the International Conference on Theory and Practices of […]

Opinion

AI will define Africa’s digital economy future — Kora CEO

The Chief Executive Officer of Africa’s leading payment infrastructure company, Kora, Mr. Dickson Nsofor, has posited that Artificial Intelligence would play a defining role in the next chapter of Africa’s digital economy. Nsofor stated this while briefing newsmen on plans to host its 2025 edition of Sundown Sessions, an event themed “AI in Africa: Scaling […]

Conferences

NECA joins African summit to champion digital economy, business growth

The Nigeria Employers Consultative Association will be part of a summit hosted by the Federation of Kenya Employers, Business Africa Employers Confederation, International Labour Organisation and the International Organisation of Employers, to champion business growth and the digital economy on the continent. This event brings together business leaders, policymakers and global experts to shape the […]

Lawyers critique N10m fine in Nigeria’s digital economy bill
News

Lawyers critique N10m fine in Nigeria’s digital economy bill

A team of lawyers at Olisa Agbakoba Legal has expressed concerns over a provision in Nigeria’s National Digital Economy and E-governance Bill that imposes a N10 million fine for violations. The bill, currently before the National Assembly, aims to establish a comprehensive legal framework for the digital economy, encompassing areas such as electronic transactions, data […]

Buhari
Mobile phones Technology Telecommunications

Nigeria has 100% broadband penetration – Buhari

The president, Major General Muhammadu Buhari (retd.), on Tuesday, claimed that broadband penetration was at 100% throughout the nation. According to The Punch, he disclosed this at the maiden Digital Economy Conference of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, held at the Abuja Chamber of Commerce and Industry complex. Speaking through the  Minister […]

Economy

Digital economy: Nigeria, Vietnam deepen bilateral relations

In a determined effort to deepen the long-standing bilateral relations between Nigeria and Vietnam, both countries plan to work together more, particularly in the areas of the digital economy, telecommunications, agriculture and trade, among others, for the mutual benefit of the citizens. The need for improved collaboration between Nigeria and Vietnam was the focus of […]

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