Uncategorized
Nigeria’s reforms can transform Africa -Oyedele
By Sam Otuonye
Nigeria’s experience with economic reforms offers valuable lessons for African countries seeking sustainable growth, stronger regional trade and improved living standards, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said.
Oyedele spoke at the Africa’s Golden Future Forum on Wednesday in Bangkok, Thailand, where he highlighted the importance of carefully sequencing reforms, communicating policy decisions consistently and building public trust.
He identified fuel subsidy removal, foreign exchange liberalisation and tax reform as major components of Nigeria’s economic reform programme, noting that the order in which policies are implemented can influence their impact on citizens and businesses.
According to him, removing the fuel subsidy before liberalising the foreign exchange market helped manage the effects of rising costs. He stressed that effective communication, strong institutions and consistent policies were essential to sustaining reforms and building public confidence.
Oyedele said Nigeria’s reforms were laying the groundwork for inclusive growth, job creation and economic expansion, adding that African countries must also address structural barriers that limit trade and investment across the continent.
He called for the removal of trade barriers, improved infrastructure and stronger regional integration to unlock the opportunities offered by the African Continental Free Trade Area (AfCFTA).
The Minister said Nigeria was developing an economic policy framework to align trade, fiscal and monetary policies and improve coordination. He also identified energy, logistics, storage and processing infrastructure as critical to strengthening African trade and competitiveness.
He highlighted Nigeria’s National Single Window initiative, designed to simplify border procedures and improve trade efficiency.
Oyedele also stressed the need to protect vulnerable citizens from the effects of economic reforms through effective social protection measures.
He said Nigeria’s cash transfer programme had reached more than 10 million households, while over 1.5 million students had benefited from education support.
Also speaking, the President of the African Development Bank (AfDB), Sidi Ould Tah, called for the practical implementation of reforms across Africa, stressing that policy commitments must translate into tangible results.
Ould Tah said the bank had supported reforms in Nigeria and Egypt through budget support and was working with development partners to expand electricity access across the continent.
He cited Mission 300, an initiative launched with the World Bank and other partners to connect 300 million Africans to electricity by 2030, as an example of the scale of cooperation required to address Africa’s infrastructure gaps.
According to him, more than 30 African countries had signed energy compacts requiring coordinated reforms, infrastructure investment and private sector participation to expand electricity access.
The AfDB President noted that intra-African trade accounted for about 15 per cent of the continent’s total trade, compared with 40 per cent and 60 per cent in other regions.
He said the bank devoted more than 60 per cent of its financing to infrastructure, including regional projects aimed at improving connectivity and promoting continental integration.
Ould Tah added that the African Development Fund’s regional financing mechanism could cover up to 90 per cent of eligible regional projects involving more than two African countries, helping to address financing gaps that often hinder cross-border infrastructure development.
Uncategorized
Nigeria must avoid oil economy mistakes with data – Oyedele
By Sam Otuonye
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has cautioned that Nigeria risks repeating the costly mistakes of its oil economy if it continues to rely heavily on foreign infrastructure for storing and processing its data instead of harnessing the economic value of its expanding digital sector.
Oyedele gave this charge on Wednesday in Uyo, Akwa Ibom State, while delivering the convocation lecture titled *“Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation”* at the University of Uyo.
He recalled that exporting crude oil and importing refined petroleum products deprived Nigeria of substantial domestic value, expertise and employment opportunities, stressing that the country must not allow a similar pattern to emerge in the digital economy.
Oyedele maintained that the scale of the opportunity was already evident, citing Nigerian Communications Commission (NCC) figures showing that Nigeria had more than 157 million active internet subscriptions as at May 2026. However, he highlighted an estimate by the Nigeria Data Protection Commission that over 90 per cent of the country’s data is hosted abroad.
He observed that such dependence comes at a considerable economic cost, including foreign exchange outflows for offshore data hosting and processing, lost opportunities for local businesses and professionals, and exposure of Nigerian data to foreign laws and jurisdictions.
The Minister explained that digital sovereignty entails a country’s ability to determine, under its own laws, how its data is collected, stored, accessed and utilised. He clarified that this does not mean shutting Nigeria out of the global digital economy, but ensuring that its participation advances national interests.
To reverse the trend, he called for deliberate investment in domestic digital infrastructure, stronger regulatory institutions and the development of local expertise and businesses capable of converting data into valuable products and services within Nigeria.
Speaking on artificial intelligence, Oyedele highlighted its growing capacity to reshape employment and the skills required in the emerging economy. He charged graduates to embrace AI and other emerging technologies while retaining their independent judgement, critical thinking, creativity, empathy and integrity.
He also enjoined young Nigerians to be deliberate about their conduct in the digital space, noting that their online footprints increasingly influence their personal and professional identities. Their posts, comments and reactions, he said, could shape how employers, institutions and society perceive them.
The Minister counselled graduates to disagree respectfully, challenge ideas rather than attack individuals, and understand that online attention does not necessarily translate into respect, popularity into credibility or virality into value creation. He equally drew attention to the capacity of artificial intelligence to amplify misinformation, impersonation and dishonesty, making ethical conduct and public trust increasingly important.
Turning to the role of universities, Oyedele charged higher institutions to move beyond the traditional award of certificates and position themselves as centres of innovation, entrepreneurship, ethical leadership and practical problem-solving.
He argued that their relevance should also be measured by the problems their graduates solve, the businesses they establish and the contributions they make to their communities.
The Minister identified agriculture, energy, healthcare, marine resources, environmental management and digital services as sectors offering significant opportunities for innovation and enterprise, calling on universities to equip students with the practical knowledge and skills to develop solutions in these areas.
He outlined five responsibilities for the graduating students: lifelong learning, value creation, integrity, responsible digital citizenship and active participation in nation-building.
Oyedele stressed that Nigeria’s digital future would depend not only on technology and infrastructure, but also on the values, choices and capabilities of the people shaping its development.
He challenged the graduates to see themselves as active contributors to that future, drawing on the words of management thinker, Peter Drucker: “The best way to predict the future is to create it.”
TCN seeks Bauchi govt’s partnership for new substations in Alkaleri, Toro
By Sam Otuonye
The Transmission Company of Nigeria (TCN), Bauchi Region, has appealed to the Bauchi State Government to expedite land allocation for two proposed transmission substations in Alkaleri and Toro Local Government Areas (LGAs) of the state which are expected to expand transmission capacity and improve bulk power supply across the state.
The Ag. General Manager (Transmission), Bauchi Region, Engr. Muhammed Bello Ahmed, made the appeal during a courtesy visit to the State Ministry of Land and Survey on Monday, November 2, 2026, emphasising the need for timely land allocation to facilitate project implementation.
He commended the state government for engaging host communities on the proposed projects and protecting critical transmission infrastructure through the enforcement of Right-of-Way (RoW) regulations, particularly the removal of illegal structures beneath high-voltage transmission lines.
In his response, the Permanent Secretary of the Ministry, Shuaibu Alhaji Mohammed, assured TCN of the state government’s support for the substation projects. He reaffirmed the Ministry’s commitment to facilitating the land allocation process and pledged to strengthen security around critical transmission facilities.
Uncategorized
CITAD challenges big tech dominance, advocates digital sovereignty
Abdul Haruna
The Centre for Information Technology and Development (CITAD) has argued that Nigerians should not have to surrender control over personal information to access digital communication.
The Centre stated this on Thursday while unveiling DANCIT, a homegrown messaging application designed as an alternative to mainstream platforms.
Buhari Abba, who addressed a press conference in Bauchi on behalf of the Executive Director of CITAD, said DANCIT is hosted on CITAD’s own digital infrastructure and is designed to limit unnecessary tracking, profiling and commercial exploitation of personal data.
He explained that the name DANCIT draws inspiration from the traditional Hausa concept of ‘dandali’ — a communal gathering place where people meet, exchange ideas and discuss matters affecting their lives.
“DANCIT is designed to offer an alternative by placing community needs, privacy and digital independence at the centre. Its purpose goes beyond exchanging messages; it is intended to support civic engagement, grassroots organising and digital rights discussions,” Abba said.
He said the platform represents a statement against continued monopolisation of digital innovation, noting that a healthy digital ecosystem requires space for competition, creativity and locally developed solutions.
CITAD also called on the Federal Government, civil society and educational institutions to support decentralised and locally-owned digital platforms to strengthen Nigeria’s digital sovereignty.
According to the Centre, digital sovereignty involves having the capacity to make informed decisions about digital infrastructure, data governance and technological development in ways that reflect national and community interests.
“Encouraging Nigerian institutions and communities to develop, host and manage digital services can contribute to building local capacity and reducing dependence on external providers. It does not mean isolating Nigeria from the global internet,” the statement said.
The organisation lamented that journalists, civil society organisations, young people and ordinary citizens increasingly depend on platforms that exploit data, amplify misinformation and impose arbitrary content restrictions.
It therefore urged policymakers, technology developers and the media to prioritise privacy, transparency, accountability and user control in discussions about Nigeria’s digital future.
CITAD also called on Nigerians to look beyond the popularity of mainstream platforms and consider how responsibly they handle information and respect users’ rights, adding that “our conversations matter, our data deserves protection, and our communities deserve digital spaces they can trust.”
-
General News1 month agoRivers 2027: We are not part of Rainbow Coalition – APC Legacy Group slams Wike, Fubara meeting
-
Politics2 months ago2027: ASAF backs APC governors, rejects rainbow coalition
-
General News2 months ago
JOHESU demands: MHWUN puts FG on notice over fresh action
-
Politics2 months agoYou have demonstrated diligence, loyalty, statesmanship in leadership, Ekechi salutes Shetimma at 60
-
Politics3 months ago2027: Advertising experts raise concerns over irregular regulation of sector
-
FCT News3 months ago
2027: Hasana-Moneme pledges skills, empowerment, credit access for FCT women
-
General News3 months ago
2027: Dame Princess Esom-Nwafor Orizu confirmed as APC flagbearer for Nnewi North /South /Ekwusigo Federal Constituency as INEC releases names of candidates
-
Uncategorized4 months ago
Rescue of Oyo schoolchilden: Tinubu commends security agencies, says action breakthrough in fight against criminality
