Arthur Stevens CEO, Olatunde Amolegbe, to keynote Business Journal lecture @AI and Digital Economy - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The financial and technology communities are gearing up for the 2025 Business Journal Annual Lecture, where Mr. Olatunde Amolegbe, the Managing Director/CEO of Arthur Stevens Asset Management Limited, will deliver the keynote address on the critical nexus of technology and economic advancement, reports ITREALMS.

The high-profile lecture, themed "AI & Digital Economy: Projecting the Future of Economic Growth in Nigeria," is scheduled for Tuesday, December 16, 2025, at the Oriental Hotel, Lekki Road, Victoria Island, Lagos, starting at 10:00 am prompt.

EXCLUSIVE: Udotai slams Digital Economy Bill: 'A $1Trn House on analog foundation can't stand' - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

A top technology policy expert and Founder of CreativeAfrica Tech Policy, Mr. Basil Udotai, has delivered a scathing assessment of the draft National Digital Economy and E-Governance Bill, 2024, currently before the National Assembly, reports ITREALMS.

Udotai also demanded the Bill be immediately paused and restructured, insisting its central ambition is fatally undermined by an unaddressed, fragmented regulatory architecture.

ISOC decries Canadian News Act, says 'It'll restrict innovation & growth in digital space' - ITREALMS

ITREALMS ... making leadership SENSE with digital news!


The Internet Society (ISOC) has decried the Canadian News Act, describing it as instrument to stifle freedom of expression, restrict innovation and growth of digital economy, reports ITREALMS.

ISOC in an Internet Impact Brief co-authored by its Canadian chapter and made available to 

ITREALMS by the Director, Government Affairs and Advocacy, Callum Voge, the brief arose from a technical perspective, using their Internet Impact Assessment Toolkit to identify how the Act may positively or negatively impact the Internet.

NDSF2021: Citizens participation enhances digital cooperation in digital economy says Uzor - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

Citizens’ participation in digital cooperation for enhanced multi-stakeholder governance in a digital economy, would engender public policy designs and inclusion of citizenry, according to chief executive officer, Wisdom Computer Technologies, Mr. Francis Uzor, at the 2021 Nigeria DigitalSENSE Forum series on Internet Governance for Development (IG4D), which held weekend at the Golden Tulip Essential Hotel, International Airport Road, Lagos, reports ITREALMS,

Uzor who led discussion on “Citizens Participation in Digital Cooperation for Enhanced Multi-stakeholder Governance for Digital Economy” noted that it would help immensely when citizens participate in the designing of public policies, in addition to facilitating their participation and inclusion, even from the regions, which enables systematization and integration of citizen demands, just as it would help in generating new communication channels between the government and citizens in a fast changing digital world.

Ministry of Communications and Digital Economy: Beyond the nomenclature - ITREALMS

Commentary@ITREALMS: 

The Federal Ministry of Communication has a new name. It will henceforth be known, called and referred to as the Federal Ministry of Communication and Digital Economy. When the news broke last week that the Federal Executive Council (FEC) had approved the name change, there was plenty of cheers and jeers.

In itself there is nothing wrong with a name change. In fact, this change takes cognizance of emerging global trend. It shows awareness of the growing significance of the place of digital technologies in modern societies. It also seeks to take advantage of the development. At face value, this name change definitely looks like a good thing.

This makes sense especially when one considers that the world, itself, is changing. This change is driven largely by the wide spread deployment of digital technology infrastructure which is in fact, a huge contribution in changing how humans live, work and plan.

Experts in different parts of the world insist that the wide spread deployment of digital technology is hugely transforming industries and spurring unprecedented socio-economic development. New and emerging technologies enable and precipitate unimaginable innovations at near breakneck pace.

These days, it is obvious that innovations arrive every day to make life easier. For example, digital technology makes it so much easier and faster to transact businesses across borders. Digital technology continues to breaks borders and reshape boundaries. Today, it is creating a connected society that is the basis of the emerging digital economy.

The digital economy is the economic activity that results from everyday online connections among people, businesses, devices, data, and processes. It is said that, “The backbone of the digital economy is hyper-connectivity which means growing interconnectedness of people, organisations, and machines that results from the Internet, mobile technology and the internet of things (IoT).”

According to report by the World Economic Forum, “By 2022, over 60 percent of global GDP will be digitised. Indeed, an estimated 70 percent of new value created in the economy over the next decade will be based on digitally enabled platforms.” It is clear therefore that digital economy is already upon us.

Thankfully, Nigeria is abreast of the trends. Experts say it is as a result of the dedication to massive investment in digital communication infrastructure by the telecommunications companies. In close to two decades, conservative estimates put the figure at over $40 billion. A direct manifestation of this investment is the number of mobile subscribers currently, over 172 million according to figures from the Nigerian Communications Commission (NCC).

Despite this growth, a lot more still needs to be done. Take, internet penetration which stands at about 50 percent. A massive 50 percent of the population are still out of the internet loop. Internet access must become ubiquitous to get more people into the digital economy. This is the only way people can possibly partake and benefit.

Consider, Electronic Commerce (e-commerce). It has taken off with a blast in the country. It is now an area of global investor confidence in Nigeria. The Euromonitor International Market Research reveals that e-commerce advancements have been most notable in Nigeria because of the surge in telecom investments and smartphone purchases which have fueled growth in internet usage.

In addition, the Central Bank of Nigeria’s (CBN) cashless policy initiative also helped to drive uptake as it is precipitating new and exciting payment options. These are the building blocks of the digital economy – digital infrastructure, internet connection and effective e-commerce along e-payment systems.

The above is precisely why talks of taxing e-commerce transactions by the Federal Inland Revenue Service (FIRS) is abhorrent. This will thwart the efforts to encourage the growth of digital economy in Nigeria. The Ministry of Communication and the Digital Economy must quickly address the issue and nip it in the bud.

The Nigerian government is big on ease of doing business. The latest report justifies the commitment and effort the government is making. Progress is been made. More still needs to be done however. Undoubtedly, the proposed e-commerce tax negates this well thought out policy drive and should be jettisoned.

Unarguably, in today’s world, access to broadband should be a human right. It should be given priority by the government in order to improve access across the country and be completely affordable. To encourage interest in the sector, the government must actively consider subsiding investment in the digital space. It should consider tax breaks and other incentives.

Evidently, the emergence and nurturing of activities in the digital economy are key for diversification of the economy. So, in order to demonstrate its seriousness in this regard, the government must support efforts, particularly by the private sector, to grow the digital economy. Perennial issues around right-of-way approval, multiple taxation and the designation of telecom infrastructure as critical national infrastructure worthy of special protection must be pursued until actualised.

Dr. Isa Pantami, the Minister-in-charge of the renamed ministry, was absolutely right when he insinuated that “The name change will properly position and empower the ministry to fulfill its digital economy objectives. It will further expand the ministry’s mandate to capture the goals of digitalisation of the Nigerian economy in line with the Economic Growth and Recovery Plan (EGRP), one of the key agenda of the present administration.”

However, beyond the name change, the ministry must demonstrate greater understanding of the issues, show stronger support for players in the sector and must be seen to encourage policies that promote the growth of the sector.

In a year’s time, Nigerians must be able to look back and say the name change was worth it. The citizens should be able to celebrate real net impacts beyond the nomenclature!

This is how to grow the digital economy!



*Elvis Eromosele, a Corporate Communication professional and public affairs analyst writes from Lagos.

*JOIN our alert's group | Share stories with us | Advert placement: WhatsApp | SMS: +2348033592762 *Twitter: @ITREALMS *Email: itrealms.dsa@gmail.com*

Buhari renames Communications Ministry to Communications & Digital Economy - ITREALMS

ITREALMS:

The President of the Federal Republic of Nigeria Muhammadu Buhari, has granted the prayers of the Honourable Minister of Communications, Dr Isa Ali Ibrahim Pantami, by renaming the ministry to Communications and Digital Economy, reports ITREALMS.

Confirming this to ITREALMS, the Deputy Director, Press & Public Relations in the ministry, Philomena Oshodin, said the ministerial prayer was answered to properly position and empower the Ministry to fulfill its digital economy objectives.

The Ministry, ITREALMS recalls supervises the Information and Communication Technology (ICT) sector and with this renaming would further expand its mandate to capture the goals of digitalization of the Nigerian economy in line with the Economic Growth and Recovery Plan (EGRP), which is one of the key agenda of the present administration.

Dr. Pantami was also quoted in a press statement available to ITREALMS as saying that the former name was not only limiting in pursuing the objectives of a digital economy, but obsolete as it did not reflect the trends as emphasized by the International Telecommunications Union (ITU).

"ICT contributions to the country’s Gross Domestic Product (GDP) stood at 13.85 per cent in the second quarter of 2019, he said.

Stressing that the change of nomenclature will propel the ministry to reposition its strategic objectives as laid out in the priority areas of this administration while accelerating growth and social inclusion.

Dr Pantami cited examples of global and African economies like Scotland, Thailand, Tunisia, Benin Republic and Burkina Faso among others who have adopted deliberate strategies and created Ministries of Digital Economy in line with global best practice, and especially the European Union which has a commissioner for digital economy.

In a letter containing his approval, the President noted that the request is in line with his administration priorities.

The approved name was proclaimed and adopted at the Federal Executive Council of Wednesday,, 23rd October 2019.

Chuks Egbuna/DoP

*JOIN our alert's group | Share stories with us | Advert placement: WhatsApp | SMS: +2348033592762 *Twitter: @ITREALMS *Email: itrealms.dsa@gmail.com*

Digital Economy: ICANN studies e-friction, social media usage in 15 MENAT countries

ITRealms:

The study on the status of the regional digital economy, entitled “Accelerating the Digital Economy in the Middle East, North Africa, and Turkey” by the Internet Corporation for Assigned Names and Numbers (ICANN), has revealed that the study would focus on 410 million people living in 15 countries, reports ITRealms.

The study, ITRealms reports, identified the dynamics of the current digital economy and recommends points of development in the Middle East, North Africa and Turkey (MENAT), of which ICANN had commissioned a similar study in 2014 with the same aim in a global context: “Greasing the Wheels of the Digital Economy”.

ITRealms gathered that this study serves as part of ICANN's efforts to foster engagement between ICANN and the broader Internet community, and to help build a strong and competitive domain name industry in the region. The study focuses on 410 million people living in 15 countries: Algeria, Bahrain, Egypt, Iran, Jordan, Kuwait, Lebanon, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Tunisia, Turkey, and the United Arab Emirate (UAE).

The ICANN’s Vice President of Global Stakeholder Engagement in the Middle East, Baher Esmat said, “It tackles issues such as social media usage, content in local language, Internet connectivity, Internet start-ups, e-friction and legislations in the Internet sphere.”

Esmat also said that ICANN commissioned the study to investigate the current status of the digital economy in the MENAT region and to outline the opportunities of growth in various areas, including the domain name market that could help us make better use of the digital potential in the region.

“We believe the recommendations that derive from this study provide a guide for policy makers and businesses to nurture digital transformation in the region,” he said.

The findings of the study indicate that there is a need for governments to lead by supporting long-term efforts in four areas, including “Provision of ubiquitous, affordable connectivity, availability of relevant content, building of digital capabilities, establishment of supportive policies and practices.”

ITRealms gathered that the study concluded that in order to enhance the digital economy of MENAT, a collective effort by all stakeholders, from public to private sector, is required.

“The study will be discussed in the upcoming ICANN60 in Abu Dhabi, UAE. Remote participants will be able to join this discussion here,” he said.

ITREALMS ... everything news digitally!

Digital economy: Confab speakers admonish students

ITRealms:

The necessity for students to embrace digital opportunities to develop their skills and position for better competition in the labour market topped the agenda of speakers at 2017 edition of the Nigeria Digital Innovation Conference, reports ITRealms.

The event which held recently at the Polytechnic Ibadan was organized by the Centre for Cyber Awareness and Development (CECAD) with representatives of top government Ministries, Departments and Agencies (MDAs) in attendance on the theme: ‘Building a new Nigeria in a Digital Economy.

In his presentation, the Executive Vice Chairman (EVC) of the Nigeria Communications Commission (NCC), Prof. Umar Garba Danbatta, represented by Head Public Affairs, Mr. Reuben Muoka, noted that the commission via its regulatory activities kept telecos on their toes to make optimal performances certain.

These expectations, he said, are in both voice and data services since their service is also of great importance to driving the new digital economy.

EVC also said that in September 2016, NCC made a detailed presentation of the status and milestones achieved with the 8-Point Agenda conceptualized alongside the aspiration of government for comprehensive economic growth.

“… And our desire to channel available regulatory resources towards achieving availability, accessibility and affordability of telecommunications services, which are mostly being driven today by broadband, and related technologies and services,” he said.

The eight-point agenda, he enumerated to include “Broadband Penetration, Quality of Service Improvement, Optimization of Spectrum Benefits, Promoting ICT Innovations and Investment Opportunities, Strategic Collaborations and Partnerships, Consumer Protection and Empowerment, Promotion of Fair Competition and Inclusive Growth and the Regulatory Excellence and Operational Efficiency.”

The Director-General, NIMC, Aliyu Aziz represented by Mr. Chris Onyekuruka made a presentation entitled “Annexing Data as a Tool for Economic Development & Innovation” pointed out that as a nation, Nigeria needs to ensure accurate data to help in planning, project implementation for social economic gains. 

Also speaking, the President, Nigeria Internet registration Association (NIRA), Revd. Sunday Folayan took participants through the industrial revolutions of the past upto digital revolution which tends to be the biggest of them all.

For ICT consultant and entrepreneur Gbenga Sesan led other innovators in opening up fresh opportunities to the undergraduates. The Obafemi Awolowo University, Ile-Ife graduate of Electrical/Electronic related his experience and odyssey in his ICT journey which according to him started about two decades ago as an undergraduate at the OAU.

Other private entrepreneurs present include Mr. Kingsley Roberts (Cyber Security Expert), Akinmade Akintoye of Cloudware Technology, Ahmed Afolabi (Technology Designer).

The Polytechnic Ibadan Rector, Professor Olatunde O Fawole who was represented by the Deputy Rector, Mr. Bayo Oyeleke said the institution as a citadel of technological innovation.

The Student Union Government’s president, Comrade Kuyoro Olumuyiwa Emmanuel also on behalf of the students applauded CECAD.

The Director of Operations and Strategies at CECAD, Mr. Hilary Damissah said, the importance of broadband internet access and its affordability were critical to sustainable digital innovation, hence CECAD remain committed to creating avenues that will further help articulate more awareness and opportunities. He praised the attendance of students, management and staff of The Polytechnic Ibadan for making this year’s edition a huge success.

Ayo Midele & Chuks Egbune/GEE

ITREALMS ... everything news digitally!

Pix; L-R,Speakers at the Digital Innovation Conference Ibadan. Gbega Sesan (Standing), Reuben Muoka (Head Public Affairs NCC) Dr Bayo Oyeleke (Deputy Rector, The Polytechnic Ibadan) Sunday Folayan (NIRA President) and Chucks Onyepunuka, (Director, IT/IDD NIMC), recently.

Chad to host first-ever Pan African summit on digital economy, SDGs

ITRealms:

Plans have been advanced for the hosting of the first-ever Pan African summit on digital economy and sustainability development goals (SDGs) in Ndjamena, Chadian capital, reports ITRealms.

Confirming this to ITRealms at the weekend after a courtesy visit by the president, African Civil Society on the Information Society (ACSIS-SCASI) Dr. Cissé Kane to Chad President, Mr. Idriss Deby Itno, said that his office received a nod from Chad presidency for the event in 2017.

According to him, His Excellency Mr. Idriss Déby Itno, President of the Republic of Chad, and chairman of African Union (AU) on Friday, gave his agreement to hold the 1st Pan-African Summit on the Digital Economy and Sustainable Growth in N'djamena by first quarter of next year.

The audience during the visit includes Mr. Mahamat Allahou Taher, Chad Minister of Posts and New Information and Communication Technologies and Mr. Bedoumra Kordjé, Secretary General of the Presidency of the Republic of Chad.

Dr. Kane also congratulated President Idriss Déby Itno for his vision and pan-African leadership and for having the bright idea of setting up the African Center for Information Technologies (CATI), recalling that he had proposed the organization of such a summit at the WSIS Forum 2016 in Geneva (Switzerland), which received the support of several African ministers, Ambassadors and personalities present in Geneva at the occasion.

ACSIS President pointed out that the Summit will respond to three major questions, namely on “How to make African countries benefit from resources generated by the ICT/telecom sector in Africa? What concrete financial mechanisms to put in place to get there? How to finance sustainable digital development in Africa?; How to make Africa moving from a consumer status to a real and sustainable actor of the digital economy status?;  What are the priorities for digital resources generated by Africa to be used as leverage for the development of Africa?”

Dr. Kane also emphasized that summit was inspired by four major repositories comprising the African Union 2063 Agenda; Addis Ababa Agenda of Action (2015); the WSIS recommendations, particularly the WSIS +10 and the United Nations Sustainable Development Goals (SDGs).

ITRealms  further recollects that the Pan African organization, the Africa Civil Society on the Information Society (ACSIS) was formed in June 2003, during the first phase of the World Summit on the Information Society (WSIS) in Geneva, to promote open and inclusive information society in Africa.

Chuks Egbune/GEE

ITREALMS ... everything news digitally!
Pix: ACSIS president, Dr. Cise Kane and Chad president, Idriss Deby during the visit.

Elalamy to address ICANN55 in Marrekech

ITRealms: 

The Moroccan Minister of Industry, Trade and Digital Economy, Moulay Hafid Elalamy, would be speaking at the welcome ceremony of the Internet Corporation for Assigned Names and Number (ICANN)’s 55th Public Meeting in Marrakech city, reports ITRealms.
 

ICANN public meeting is a five-day public meeting holding between March 5 and 10, 2016, this year being hosted by the National Telecommunications Regulatory Agency (ANRT) of Morocco. 

ITRealms gathered that the meeting is being held at a critical moment in the organization’s history, as the IANA Stewardship Transition nears completion. As such, stakeholders from around the world will be convening in Marrakech to finalize the proposal that will ultimately transfer stewardship of the IANA functions – key elements of the Internet’s Domain Name System (DNS) – from the United States government over to the global multistakeholder community.

The ICANN’s incoming President and CEO, Mr. Göran Marby, will also be speaking to attendees during the welcome ceremony.  Just as the outgoing CEO, Mr. Fadi Chehadé and Board Chair Dr. Stephen Crocker will be addressing attendees during the ceremony.

ITRealms recalls that ICANN’s public meetings held trice annually, convenes members of the global, multistakeholder Internet community, made up of individual users, businesses, civil society, governments, research institutions and non-government organizations, to discuss issues impacting the Domain Name System (DNS) and develop policy.

+ITRealms DSA 
ITREALMS ... everything news digitally!

NCS congratulates Buhari, tasks on building digital economy

ITRealms:

Nigeria Computer Society (NCS) has joined other Nigerians in congratulating General Muhammadu Buhari (rtd) on his emergence as the winner in the 2015 Presidential election, tasking him on building a digital economy, ITRealms reports.

In a press release made available to  ITRealms, Professor David  Adewumi, President of NCS on behalf of the group stated that the victory on Saturday, March 28, 2015 was not only hard earned, but historic.

ITRealms also reports that the group commended President Goodluck Jonathan for placing the nation’s interest first by conceding the election and congratulating the President-elect, Buhari on his victory.

“We hail the indomitable spirit of the Nigerian people who have again demonstrated their commitment to democracy through their participation in a peaceful and keenly contested election process that has been commended globally,” he said.

NCS, Adewumi said, counts on President-elect Buhari to lead Nigeria by enthroning innovation, productivity, merit, transparency and good governance in addressing the nation’s numerous developmental challenges.

ITRealms further reports that NCS looks forward to working with President-elect and his team in shaping the future of Nigeria by building a digital economy that is inclusive, innovative and prosperous.

 Cyriacus Nnaji/GEE

ITREALMS ... everything news digitally!

Pix:Prof. David Adewumi,NCS president