Unlocking grassroots tech @NITRA confab'26: How state tax traps, high RoW costs stifle Nigeria’s digital economy - ITREALMS

Nigeria’s push for global digital competitiveness is facing a critical bottleneck as telecom operators grapple with hidden state-level levies, exorbitant Right-of-Way (RoW) fees, and crippling power deficits, reports ITREALMS.

This was the core warning issued by technology leaders, policy analysts, and industry stakeholders at the Nigeria Information Technology Reporters Association (NITRA) Innovative and Scientific Conference held on Thursday at Citi Height Hotel, Ikeja, Lagos.

NLNG: De-risking Nigeria’s energy sector key to unlocking global investments - ITREALMS

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The Nigeria LNG Limited (NLNG) has underscored that a well-structured, low-risk energy sector is the fundamental requirement for attracting massive capital, accelerating economic development, and reinforcing national energy security, reports ITREALMS.

This position was emphasized by NLNG’s General Manager of Production, Nnamdi Anowi, during a high-level panel session titled “De-Risking Investments in African Oil and Gas Projects” at the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos.

Eko Revenue Plus Summit 2024: Olatunji stresses role of data in unlocking IGR - ITREALMS

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The National Commissioner and Chief Executive Officer (CEO) of the Nigeria Data Protection Commission (NDPC), Dr. Vincent Olatunji, has stressed the role of data protection in unlocking Internally Generated Revenue (IGR) for Lagos State, the commercial centre of the nation, reports ITREALMS.

Olatunji in his goodwill message to the Eko Revenue Plus Summit 2024 in Lagos with the theme “Unlocking New Revenue Streams for Lagos State,” emphasised that Lagos State’s role as a commercial hub of Nigeria and indeed Africa with accompanying large population, thriving housing market, and robust education and healthcare infrastructure, has the potential to unlock its IGR.

Unlocking digital inclusion: S.Mobile, MTN Nigeria partner for MoMo PSB, data bundles, airtime - ITREALMS

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In a move that promises to revolutionize access to digital services and financial inclusion for millions of Nigerians, S.Mobile has joined forces with MTN Nigeria. This strategic partnership focuses on the distribution of MTN's MoMo Payment Service Bank (PSB) and data bundles, offering a seamless gateway to financial services and connectivity.

The collaboration brings together two industry leaders with unique strengths. MTN Nigeria, the country's largest telecom provider, boasts an extensive network and deep understanding of the Nigerian market. 

Unlocking Journalism Future: Anambra ICT Agency, Activ8 Hub empower media professionals on AI - ITREALMS

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The Anambra State ICT Agency in collaboration with Activ8 Hub has hosted an enriching workshop on Artificial Intelligence in Journalism for selected media professionals, reports ITREALMS.

Th workshop which took place on Thursday, ITREALMS gathered, exposed participants to emerging AI models, such as ChatGPT, Gemini, Bing AI, Microsoft Copilot, among others, with the aim to enhance their journalistic practices, ensure more efficient, accurate, and compelling reportage.

eCommerce: Reframing the future & unlocking growth in digital age - ITREALMS

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Embracing innovation, and rethinking service capabilities – these are part of a vast realm of possibilities that have been opened across Africa through adoption of e-commerce, and for tech start-up companies, the opportunities are endless.

As African countries increasingly embrace the expansion of digitisation, and products producing more access to the newer Internet of Things (IoT) technologies – one thing is clear, reinvention is possible for any sector.

Unlocking value of innovation investments by Accenture - ITREALMS

ITREALMS:

Accenture's research team has found out that although businesses are increasing their innovation spend, return on investment has declined by 27 per cent over the past five years, reports ITREALMS.

Also the research revealed that almost one-third (29 per cent) of those Accenture surveyed expect to increase their investments in innovation by more than 50 per cent over the next five years.

Accenture, the professional services firm, pointed out that over half (57 per cent) of businesses making significant investments in innovation have underperformed against industry peers when it comes to growth or market value.

"At the same time, almost one-third (29 per cent) of those Accenture surveyed expect to increase their investments in innovation by more than 50 per cent over the next five years," the firm said in a press statement made available to ITREALMS.

Affirming this research findings to ITREALMS, the Managing Director, Financial Services at Accenture, Toluleke Adenmosun, said the fact that return on investment overall is dropping is a worrying trend, because businesses are spending more than ever, but their inability to see proper returns is shocking.

“One of the reasons for this could be that many organisations still see innovation as a peripheral activity separate to the core business; an “ad-hoc creative process” rather than a set of practices that will fundamentally change their way of doing business. It’s like going jogging once a month and then expecting to be able to run a marathon.

“Over the last five years, roughly $3.2tn was spent on innovation worldwide. Yet, the study shows it is not how much you spend that matters, it is how you spend it. The companies bucking the trend and seeing the biggest returns are investing in bold, watershed moves rather than incremental shifts.”

“The companies reaping the biggest rewards show a “go big or go home” mentality by investing in truly disruptive innovation projects,” added Toluleke “They don’t just tinker around the edges.”

Toluleke also argued that some companies just chase the latest tech trends without thinking about how to connect what they’re spending to the biggest problems or opportunities in their business.

The research also reveals that there are seven key characteristics that are adopted by companies deliberately driving innovation.

Nenye Dom/Editor

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