Echotitbits – Nigeria News

Tag: Digital Economy

  • Federal Government Partners with Ericsson to Launch Youth Tech Innovation Hackathon

    Federal Government Partners with Ericsson to Launch Youth Tech Innovation Hackathon

    According to reporting by Leadership, the Nigerian government is set to unveil a major technological empowerment initiative dubbed the “Connect NextGen” Innovation Hackathon. The four-month-long program, which is being coordinated through the Office of the Vice President, officially kicks off on February 11, 2026, at the Presidential Villa in Abuja. This partnership with global telecommunications giant Ericsson is designed to equip Nigerian youths with advanced skills in modern technologies, fostering a new generation of digital entrepreneurs.

    The initiative aligns with the broader national agenda to deepen digital inclusion and create high-value jobs within the tech ecosystem. By leveraging Ericsson’s global expertise, the hackathon will provide participants with hands-on training and mentorship in emerging fields like 5G, Artificial Intelligence, and Internet of Things (IoT). The government expects that the solutions developed during this period will address local challenges while positioning Nigeria as a competitive hub in the global digital economy.

    In validation of this development, The Nation reports that the “Connect NextGen” program is a critical component of the administration’s “Renewed Hope” agenda for the ICT sector. The publication quotes a senior official from the Vice President’s office stating, “This hackathon is not just a competition but a strategic pipeline for talent discovery and national development.” Similarly, ThisDay emphasizes the private-sector involvement, noting that “Ericsson’s technical leadership will provide the necessary backbone for Nigerian youths to innovate at scale.”

    Echotitbits take:

    This move signals a shift toward practical, industry-led skill acquisition rather than just theoretical training. By involving a global leader like Ericsson, the government is bridging the gap between local talent and international standards. Watch for how the winning innovations are integrated into the public and private sectors over the next fiscal year.

    Source: The Nation – https://thenationonlineng.net/fed-govt-ericsson-to-launch-connect-nextgen-innovation-hackathon/, February 11, 2026

    Photo credit: The Nation

  • Finance Minister Targets 7% Economic Growth via Private Investment

    Finance Minister Targets 7% Economic Growth via Private Investment

    As reported by Punch on February 4, 2026, Nigeria’s Minister of Finance has reasserted the government’s commitment to achieving a 7% economic growth rate by 2027. The Minister emphasized that the primary driver for this ambitious target would be the scaling up of private sector investments and the continuation of aggressive fiscal reforms aimed at deregulating key sectors like energy and transport.

    The administration’s strategy involves leveraging public-private partnerships (PPPs) to address the country’s infrastructure deficit. The Minister noted that Nigeria is “ready to collaborate with global partners” to deliver inclusive growth, particularly in the digital economy and clean energy sectors, which are seen as the next frontiers for Nigerian development.

    Validation of this economic outlook comes from ThisDay and Leadership. ThisDay reports that “global investors are showing renewed interest in Nigeria’s energy sector,” quoting a Standard Chartered analyst who says, “The 7% target is achievable if the current reform momentum is sustained.” Leadership also highlights the role of the Nxtra Data Centre in Lagos as a model for private-led growth, with a tech executive stating, “Digital infrastructure is the backbone of the new Nigerian economy.”

    Echotitbits take: A 7% growth target is highly ambitious given the current inflationary environment. However, the focus on private investment rather than government spending is a shift in the right direction. The key challenge will be ensuring that this macro-level growth trickles down to reduce the high unemployment rate and poverty levels.

    Source: The Punch – https://punchng.com/reforms-private-investment-crucial-for-7-growth-edun/, February 4, 2026

    Photo credit: The Punch

  • Presidency Targets 10 Million Citizens for Nationwide Financial Literacy Drive

    Presidency Targets 10 Million Citizens for Nationwide Financial Literacy Drive

    Reporting by the State House Press Office indicates that Vice President Kashim Shettima has officially launched a massive initiative to train 10 million Nigerians in financial inclusion and digital skills. The program, executed through the Presidential Committee on Economic and Financial Inclusion (PreCEFI), involves a partnership with six major professional bodies, including ICAN and CIBN. The goal is to equip women and youth with the tools needed to navigate the modern digital economy.

    The Vice President emphasized that Nigeria can only reap its “demographic dividend” if the population is financially literate and ethically grounded. By signing a Memorandum of Understanding with these professional institutions, the government intends to create certification pathways and mentorship platforms that will bridge the gap between rural populations and formal banking services.

    The initiative was further validated by Leadership Newspaper and Tribune Online. Leadership noted that the program is a response to “visible improvements in the economy,” while Tribune Online quoted the CEO of technical partner WAWU Africa, who stated, “We are ready to provide the digital platform to ensure no Nigerian is left behind in this wealth creation journey.”

    Echotitbits take: Financial literacy is a pre-requisite for the success of the government’s student loan and MSME credit schemes. If successful, this could significantly reduce the 40% unbanked rate in Nigeria. The challenge, as always, will be reaching the “last mile” in rural areas with poor internet connectivity.

    Source: Arise – https://www.arise.tv/fg-signs-mou-with-ican-cibn-others-to-train-10m-nigerians-on-financial-literacy/, February 3, 2026

    Photo credit: Arise

  • Nigeria to Host Major Conference on Africa’s Digital Economy

    Nigeria to Host Major Conference on Africa’s Digital Economy

    ThisDay reports that Nigeria has been selected to host the 2026 Conference on Africa’s Borderless Digital Economy.

    The event is expected to convene policymakers, tech entrepreneurs, and investors to discuss digital payments integration and harmonized data regulation across Africa, with an AfCFTA implementation lens.

    The Nation and BusinessDay also noted anticipated focus areas such as reducing cross-border transaction costs and showcasing Nigerian innovation to a global audience.

    Echotitbits take: Hosting is an opportunity for Nigeria’s fintech and enterprise tech ecosystem, but credibility will depend on fixing the basics: affordable data, reliable power, and predictable regulation. Expect deal-making around cross-border payments, digital identity, and AfCFTA-compliant trade digitization.

    Source: This Day – https://www.thisdaylive.com/2026/01/30/nigeria-to-host-2026-conference-on-africas-borderless-digital-economy/  2026-01-30

    Photo Credit: This Day

  • Global Tech Giants Face Fresh Scrutiny Over Nigerian Data Privacy Compliance

    Global Tech Giants Face Fresh Scrutiny Over Nigerian Data Privacy Compliance

    The Nigeria Data Protection Commission (NDPC) has opened an investigation into three major international social media platforms over alleged breaches of the Nigeria Data Protection Act.

    Regulators warned that non-compliant firms could face fines of up to 2% of annual global turnover, signaling a tougher posture on digital-economy governance and user-data transparency.

    The NDPC says the inquiry will run for 30 days and requires the affected platforms to submit data audit reports, while industry stakeholders argue the move could push stronger local compliance investments.

    Echotitbits take: Nigeria is asserting digital sovereignty in a GDPR-like direction. That can protect users, but regulators must avoid creating an unpredictably hostile environment that discourages investment. Enforcement should be firm, transparent, and rules-based.
    Source: Independent – https://independent.ng/fg-institutes-investigations-into-meta-dhl-opay-for-alleged-data-breaches/ 2026-01-27

    Photo Credit: Independent

  • Nigeria Emerges as Hub for Africa’s Top Content Streamers in 2026

    Nigeria Emerges as Hub for Africa’s Top Content Streamers in 2026

    New data from Twitch and Kick platforms for January 2026 indicates that Nigerian creators dominate Africa’s most-followed live streamers, occupying the majority of the continent’s top 10 positions. The shift reflects growing audience engagement and a broadening of content formats—from gaming to lifestyle and celebrity-driven programming.

    Analysts attribute the surge to rising digital participation and the increasing viability of streaming as a full-time career for young Nigerians. The momentum has also drawn interest from international brands seeking credible entry points into Africa’s youth demographic.

    Separate reporting has published lists of the highest-ranked streamers and described the trend as a transfer of “streaming leadership” from Southern Africa to West Africa, with Nigeria at the center. Industry observers say this is likely to intensify competition for advertising budgets as streamers become more influential within entertainment and pop culture.

    Echotitbits take: This is the new “Nollywood” of the digital age. As internet penetration increases, expect these streamers to rival traditional media for advertising revenue and cultural influence.
    Source: Pulse.ng – https://www.pulse.ng/story/africas-biggest-streamers-2026012414530720943  2026-01-26

    Photo Credit: Pulse.ng

  • Regulators Mandate Fast Refunds for Failed Electronic Transactions

    Regulators Mandate Fast Refunds for Failed Electronic Transactions

    According to Premium Times, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have finalized a joint regulatory framework to address the persistent issue of failed airtime and data purchases. The new policy mandates that subscribers who are debited without receiving value must be refunded within a specified short window, significantly reducing the current resolution time which often stretches into days.

    The framework introduces a Central Monitoring Dashboard, which will be co-hosted by the two regulators. The dashboard is designed to provide real-time visibility into transaction failures across Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs), ensuring providers are held accountable for technical glitches and system downtimes.

    Stakeholders including Value Added Service (VAS) providers and financial institutions participated in months of negotiations to reach the agreement. Regulators say it responds to a surge in complaints about “hanging” funds during network instabilities, which has eroded trust in the digital economy.

    The Punch reports that banks and telecom operators have been given a March 1, 2026 deadline to fully implement the new refund framework, while BusinessDay highlights the technical target of near-instant refunds for failed airtime and data purchases to match the pace of modern fintech competitors.

    Echotitbits take: This is a major win for consumer rights in Nigeria’s digital space. By integrating NCC and CBN monitoring systems, the policy reduces the long-running “blame game” between banks and telcos. If implemented well, it could lift digital transaction volumes as confidence improves.

    Source: The Punch – https://punchng.com/ncc-cbn-unveil-refund-framework-for-failed-airtime-data-transactions/ 2026-01-09

    Photo Credit: The Punch

  • Revenue Service Pushes E-Invoicing as New System Integrators Get Accreditation

    Revenue Service Pushes E-Invoicing as New System Integrators Get Accreditation

    A report from The Punch indicates the National Revenue Service (NRS) has accredited new system integration partners to support automated e-invoicing, a move aimed at improving compliance and reducing leakages.

    The initiative is designed to let businesses connect accounting systems to national tax infrastructure, enabling real-time transaction data and more accurate VAT assessments.

    SMEs are being encouraged to adopt compliant solutions early to avoid penalties once enforcement tightens.

    **Echotitbits take:** E-invoicing can cut fraud and boost transparency, but adoption will be toughest for small businesses. Watch for a grace period, incentives, and clear onboarding support so compliance doesn’t become another cost shock.
    Source : The Punch — https://punchng.com/nrs-boosts-e-invoicing-compliance-with-pillarcraft-accreditation/ 2026-01-08

    Photo Credit: The Punch

  • FG Announces National AI Centre of Excellence to Drive Homegrown Innovation

    FG Announces National AI Centre of Excellence to Drive Homegrown Innovation

    In a dispatch by Premium Times, the Federal Ministry of Communications, Innovation and Digital Economy announced plans to establish Nigeria’s first National Artificial Intelligence (AI) Centre of Excellence.

    The centre is expected to support research and practical AI applications in areas such as agriculture, healthcare and education, with a collaborative model involving academia and the private sector.

    Officials also spoke about funding support for startups building solutions tailored to Nigeria’s local needs, including language and productivity tools.

    **Echotitbits take:** This could be transformative—but only if the basics (power, connectivity, and stable funding) are handled. Watch for where the centre will be hosted, how grants are administered, and whether talent pipelines are built beyond Abuja and Lagos.
    Source: The Punch — https://punchng.com/fg-to-establish-ai-centre-at-unijos/ 2026-01-08

    Photo Credit: The Punch

  • GSMA Report Projects 6G Surge, With 5 Billion Connections Possible by 2040

    GSMA Report Projects 6G Surge, With 5 Billion Connections Possible by 2040

    Photo Credit: The Punch
    2025-12-26 07:00:00

    Figures cited by *PUNCH* show a new GSMA study forecasting that sixth-generation mobile technology could reach massive global scale by 2040, even as 4G and 5G remain dominant for years due to device cycles and uneven infrastructure.

    The gradual rollout implies a long “multi-generation” period where operators must run several network standards in parallel—raising spectrum planning, capex pressure, and policy negotiations over spectrum allocation.

    For emerging markets, the report’s signal is mixed: the 6G era may arrive, but affordability, power reliability, and fibre backhaul constraints could keep 4G/5G central for longer than in advanced economies.

    The policy implication is that regulators and operators need early planning, not hype—especially on spectrum, standards, and industrial use cases.

    GSMA’s own press release forecast “More than 5 billion 6G connections,” while *Mobile World Live* said “more than 5 billion connections, or half the global total, are forecasted by 2040.”

    Echotitbits take: Nigeria and Africa shouldn’t chase 6G headlines while 4G coverage and fibre gaps persist—but planning is still necessary. Watch for spectrum strategy debates, local manufacturing/device affordability moves, and whether 5G monetisation improves before 6G capex arrives.

    Source: Punch — Dec 26, 2025 (https://punchng.com/6g-to-hit-five-billion-connections-by-2040-report/)

    Photo credit/source: The Punch
    The Punch 2025-12-26