Connect with us

News

Nigeria’s Digital Economy Sector To Generate N18.3bn By 2026 – Minister

Published

on

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad
…as NASS say national digital economy bill will revolutionise Nigeria
 
By Gloria Ikibah 
 
Nigeria’s digital economy sector is estimated to generate about N18.3 billion by 2026, this is as stated by the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani.
 
The Minister revealed this at a press briefing on the National Digital Economy and e-Governance Bill organised by the Senate Committee on Information, Communication Technology (ICT) and Cybersecurity and House of Representatives Committee on Digital and Information Communication Technology.
 
According to him, the bill was long overdue to properly and fully harness the potential of the sector in the country, especially as the sector is the backbone for any economy and a prerequisite for any prosperous nation. 
 
He said, “For those who follow the growth and trajectory of our economy in Nigeria, you should probably know that the ICT sector contributes about 13 to 18 percent of GDP. In Q4 2023 the sector contributed about 16.6 percent of GDP.
 
“The digital economy recorded about N5.49 billion in revenue in 2019. This sector is being projected to generate up to N18.3 billion by 2026.
 
“Nigeria is one of the top two destinations for capital foreign direct investment to technology staff in Africa. Last year we recorded about 2 billion dollars in FDI to tech startups, 
 
“It will create jobs. The sector is extremely special and unique because of its capacity to unlock opportunities and raise productivity in every sector. If the digital economy is strong, it will catalyse development in every other sector.
 
“The bill we are here today is a bill that will accelerate the progress in our digital economy. There is no clear legislation that is pushing competition and ensuring development in that digital space.
 
“Today this bill which we are here to support, our hope is also that it will also be the first bill that would travel across the entire country. We have to ensure we take it to every state. It’s an important bill for all Nigerians and we want to give them the opportunity to give us feedback.
 
“The bill will support the growth and transformation of Nigeria’s economy through the application and use of the digital economy in all facets of life in Nigeria. it will create the enabling environment for fair competition to promote innovation, growth and competitiveness of the Nigerian economy”, the ministeradded.
 
Chairman of Senate Committee on ICT and Cybersecurity, Senator Shuaib Afolabi Salisu, said the Bill is important as it is the first attempt to put an omnibus legislation to cater to online activities.
 
This he said would revolutionise the economy and also unleash the full potential of the ICT sector. 
 
“ICT is not just a sector like other sectors. It is a sector that without it other sectors cannot function. This Bill was introduced in the senate less than a week ago. We are engaging the media first because the media is critical to the success bill.
 
“We don’t want this bill to be misunderstood. We want you to have an understanding of what this Bill seeks to do. This Bill is not about levies, it’s not about commission but creating an environment for the digital economy to thrive and we cannot do that without the partnership of the media”, Senator Salisu said.
 
He therefore called on Nigerians to hold them accountable for the bill.
 
Chairman, House Committee on Digital and ICT, Rep. Stanley Olajide, said it is a crucial legislation thst has the potential to transform the Nigeria’s digital economy and position it for sustainable development.
 
“The bill which has undergone first reading in the National Assembly aims to provide a legal framework for the development and regulation of our digital economy. Furthermore as we gather here today, I want to emphasise our commitment to an inclusive process in the development of this bill.
 
“It is going to be very inclusive. We recognise the importance of collaboration and stakeholders in ensuring legislation that reflects the needs and aspirations of Nigerians.
 
“This event marks the beginning of a series of engagements with various stakeholders and the general public.
 
“It is comprehensive legislation that seeks to establish a regulatory framework for the digital economy for digital literacy and skills development, enhanced cyber security and encourages innovation and entrepreneurship. It has the potential to unlock Nigeria’s digital potential and improve the lives of Nigerians”, he stated.
 
Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, representated by Ag. Director, Emmanuel Edet,  explained that the essence of the bill is to serve as an enabler to ensure that they are able to achieve the goals designed for Nigeria especially under the present government.
 
He said, “It is to enhance the use of the digital economy in the entire country, especially in government as well as in the private sector. As you may understand, the ecosystem is growing and there is a need for us to harness the potential of this ecosystem in order for us to develop our economic desires based on the advantages we have in terms of population, capacity and other facilities that are available. The Bill basically tries to ensure that digital technologies are accommodated in our day to day lives and experiences.”
Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

News

ISWAP attacks military base in Borno, kill five soldiers

Published

on

By

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Five Nigerian soldiers were reportedly killed on Friday, April 17, 2026, when suspected fighters of the Islamic State West Africa Province (ISWAP) attacked a military base in Mussa village, Borno State.

According to militia sources who spoke to AFP, the insurgents stormed the base before being repelled by troops. Following the attack, clashes were also reported in nearby Leho village.

However, the Armed Forces of Nigeria (AFN) have recorded significant operational successes across multiple theatres of operation between April 10 and 16, 2026, as troops sustained coordinated offensives against Boko Haram, ISWAP, JAS, violent extremist groups, kidnappers, and secessionist armed elements nationwide.

According to a statement issued by the Directorate of Defence Media Operations, the operations led to the arrest of several suspects, rescue of kidnapped victims, interception of terrorist logistics supplies, and neutralisation of armed criminals in ongoing efforts to create a safer and more secure environment across the country.

Advertisement

Troops of Operation HADIN KAI in the North East also maintained sustained pressure on insurgent networks across Borno, Yobe, and Adamawa States, recording multiple arrests and seizures.

In Gubio Local Government Area of Borno State, a suspect who confessed to supplying Premium Motor Spirit (PMS) to terrorists for about 10 years was arrested, with 60 litres of fuel, a mobile phone, and cash recovered.

In Adamawa State, 20 suspects were apprehended during raids on criminal hideouts in Mubi North, with items including electronics, cash totaling over ₦2.1 million, and other materials recovered.

In Yobe State, troops arrested three suspected informants linked to monitoring troop movements.

Advertisement

However, the Nigerian military had also in recent times suffered set backs in the fight against insurgency in the North East. Nigeria Tourism Guide

Suspected fighters of Islamic State West Africa Province (ISWAP) had last week attacked a military formation, killing a colonel, I.A. Mohammed, and other soldiers.

Also Brigadier General Oseni Omoh Braimah and 6 soldiers paid the supreme price early in a coordinated attacks by suspected members of the Islamic State of West Africa Province (ISWAP) on military formations in Benisheikh, Kaga Local Government Area, as well as Ngamdu and Pulka town in the Gwoza LGA of Borno state.

Advertisement
Continue Reading

News

Nigerian oil governance, Contracts: ‘I was a rubber stamp, Diezani tells UK Court

Published

on

By

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Former Nigerian Petroleum Minister Diezani Alison-Madueke told a UK court that her role in approving oil contracts was largely routine, stating that major decisions were already taken before documents reached her desk.

Speaking at Southwark Crown Court in London, she explained that the structure of Nigeria’s oil sector meant she had limited direct control, as key operations were handled by the leadership of the Nigerian National Petroleum Corporation (NNPC).

“The system was already in motion before files came to me,” she said, adding that the size and complexity of the industry made it difficult for a minister to oversee everything directly.

She said she rarely declined contract approvals because they had already passed through detailed technical and regulatory checks.
“I was, in many instances, a rubber stamp in the process,” she said.

Advertisement

Diezani also recounted a 2014 incident in which she discovered a questionable crude oil deal allegedly linked to businessman Igho Sanomi. She said the matter came to light following a whistleblower report, prompting her to cancel the arrangement.

However, she told the court that powerful individuals opposed her decision and escalated complaints to then President Goodluck Jonathan.

On allegations that $20 billion in oil revenue went missing, she disagreed with former Central Bank Governor Lamido Sanusi, insisting the reports were inaccurate.

“There were no missing funds as widely reported,” she said, explaining that audits and legislative reviews later showed the money was tied to subsidy payments and operational costs.

Advertisement

She acknowledged serious challenges in the fuel subsidy system, including multiple claims by some marketers, but said reforms were introduced to reduce fraud.

According to her, these efforts came with risks. She said she faced security threats, including the kidnapping of family members, which she linked to her attempts to challenge powerful interests in the sector.

She also said politicians and business figures frequently pressured her office for preferential treatment in oil allocations.
“I declined requests that did not follow due process,” she said.

Addressing questions about her personal finances, Diezani said she used Nigerian bank cards even during foreign trips, in line with rules preventing public officials from holding foreign accounts.

Advertisement

She added that the cards sometimes failed abroad, forcing others to temporarily cover expenses.

The court also examined records of her official trips between 2011 and 2015.
She said she usually travelled with about 30 officials, including aides, security personnel, and protocol staff.
“All movements were documented and archived in ministry records,” she said, noting that both commercial and chartered flights were used depending on official requirements.

Despite the allegations against her, Diezani insisted her time in office focused on increasing local participation in the oil sector and improving transparency, saying she has been unfairly portrayed.

She is currently on trial alongside Olatimbo Ayinde and Doye Agama on five counts related to bribery.

Advertisement

All the defendants have pleaded not guilty, and the case is ongoing in London.

Continue Reading

News

Army raises alarm over low South-East recruitment

Published

on

By

ADVERTISEMENT
Zoom Ad
ADVERTISEMENT
Zoom Ad

Brig.-Gen. Uche Nnabuihe has raised concern over low enlistment from the South-East, revealing Anambra recorded only 117 applications out of 38,000 nationwide.

Nnabuihe led an Army delegation to sensitise youths in Awka, noting the figure was recorded on April 7, before a nationwide awareness campaign began.

He said the exercise aimed to encourage more youths from Anambra and the South-East to join the 91 Regular Recruits Intake before the May 27 deadline.

“We observed with concern that out of 38,000 applications received nationwide, only 117 came from Anambra as of April 7.

Advertisement

“This sensitisation is to correct that imbalance and encourage our youths to take advantage of opportunities in the Nigerian Army,” he said.

Nnabuihe urged eligible youths to apply, noting the Army offers a structured career path and opportunities for national service.

Lt.-Col. Ogbemudia Osawe, member of the sensitisation delegation, said training infrastructure had expanded, with new institutions in Abakaliki and Osogbo to accommodate incoming recruits.

Osawe listed benefits, including career progression, regular pay, continuous military education, specialised training, and exposure to diverse cultures.

Advertisement

He added personnel enjoy welfare packages, free medical care for families, pensions, gratuities, and opportunities for international assignments.

The Permanent Secretary, Anambra Ministry of Youths, Ifeatu Emodi, commended the initiative, describing military enlistment as crucial for South-East youths.

Emodi said declining interest among youths stemmed from misconceptions and misinformation about the Army.

Traditional ruler, Igwe Michael Okeke-Uche of Enugwu-Agidi, praised the Army’s welfare structure and urged youths to enlist for better regional representation.

Advertisement

The sensitisation held at the Ministry of Youths in Awka, attracting a cross-section of young people.

Continue Reading

Trending

Copyright © 2024 Naija Blitz News