News
NDITDA Bill Must Not Destroy the New Oil Well, Tech
By Joel Popoola
In tech terms, 2007 was a thousand years ago.
YouTube was a little over a year old. Instagram and Snapchat didn’t exist. TikTok wouldn’t go international for another decade.
That’s why it’s only sensible that we update out technology laws to reflect the Nigeria we live in now.
But this regulatory refresh must not come at the expense of our economic future.
This week has brought news that the National Information Technology Development Agency is apparently seeking to extend powers granted in 2007 to provide the Nigerian tech sector with advisory guidelines to a fully-fledged regulator with the powers to determine which businesses are allowed to operate.
Under the proposals, companies would also have to pay a 1% levy on their profits to NITDA. Companies failing to comply with the rules would risk jail time or minimum fines of 30 million naira.
In the aftermath of the government’s banning of both cryptocurrency and Twitter, insiders fear the move may have the effect of hindering innovation in Africa’s fastest growing tech ecosystem.
This must not be allowed to happen.
Tech is a sector which has defied the stagnant economy which has defined Nigeria in recent years. The internationally-renowned Financial Times recently branded Nigeria “Africa’s hottest start-up scene”. Of every five dollars invested in venture capital funding in Africa in 2020, one dollar went to Nigeria. In Flutterswitch and Intersave our nation is home to two of Africa’s four unicorns- companies valued at over $1billion. Investors poured $1.6billion into the Nigerian tech scene between 2016 and 2020.
It is this reason why tech’s role in the Nigerian economy has been called “the new oil”. And as the world adapts to a post-oil future, it’s something which is only going to become more and more critical. We must not intentionally destroy the new oil’s well.
As the Financial Times writes, the Nigerian government’s “byzantine structure, endemic corruption and penchant for free speech crackdowns” already inhibits innovation and discourages investment. Heavy handed regulation will only encourage investors and businesses to look elsewhere.
Fintech – digital banking – is one of the most significant divers of the Nigerian tech boom, and in a nation where 60 million people do not have a bank account and where 96% of transactions still take place using cash, the sector is only going to expand – democratising money as it does. No-one is seriously suggesting this area should be an unregulated free-for-all. Consumers need to know that they are investing in a reputable and regulated organisation and not a digital pyramid scheme.
Regulation which supports instead of strangling innovation is the key to prosperity. But the Nigerian tech sector has all-too-often found both the NDITA and other governmental bodies remote, inaccessible and even antagonistic.
This approach is symptomatic and symbolic of the digital divide between decision makers and ordinary Nigerians.
At the digital democracy campaign I lead we are trying to bridge that divide with technology.
We have developed a free app called Rate Your Leader to help elected officials better engage with both technology and the people who elect them.
The app allows direct person-to-person communication between verified voters and confirmed local leaders. As a result, Rate Your Leader allows the rapid raising of issues and concerns and the sharing of information, allowing communities to collaborate to make local areas better and helping politicians understand what matters most to the people who elect them. Rate Your Leader’s abuse-proof technology ensures that this communication is always courteous and civil.
Rate Your Leader also lets local people rate politicians for accessibility, transparency and honesty – building trust in both politicians and political institutions.
The Nigerian tech sector is alarmed by the prospect of a bill which seems to give a single agency the power to decide which businesses can operate and which technologies can come to market, and baffled with a bill which seems to entirely contradict the Nigerian Startup Bill, a tech industry–led initiative much better targeted at delivering a more startup-friendly business environment.
As with so many aspects of the Nigerian political landscape, the key to overcoming these concerns is better engagement – engagement that new technology ironically makes it a lot easier to facilitate.
If we are to safeguard a more prosperous future, it is engagement which must take place at the earliest opportunity – and at Rate Your Leader, we are willing to support that engagement in any way we can.
Joel Popoola is a Nigerian tech entrepreneur, digital democracy campaigner and founder of the Rate Your Leader app. He can be reached via @JOPopoola
The Independent National Electoral Commission (INEC) has declared the candidate of the All Progressives Congress (APC), Mr. Lucky Aiyedatiwa, as the winner of the just concluded Ondo State governorship election, held on Saturday, November 16, 2024.
The Returning Officer for the election Olayemi Akinwumi, who is also the Vice-Chancellor of the Federal University, Lokoja, Kogi State declared Aiyedatiwa winner of the election on Sunday, extending the governor’s stay at the Government House in Alagbaka, Akure.
Governor Aiyedatiwa polled 366,781 votes to defeat his closest rival and a former deputy governor of the state Ajayi Agboola who flew the Peoples Democratic Party (PDP) flag. He scored 117,845 votes, more than twice lower than the APC candidate.
“That Lucky Orimisan Aiyedatiwa of the APC having satisfied the requirement of the law is hereby declared the winner and is returned elected,” the returning officer said at exactly 2:30 pm at the INEC collation centre in Akure.
The declaration came hours after the collation of results for the election began in the early hours of Sunday. Although the collation centre went on breaks, the APC took a commanding lead with over 200,000 votes ahead of the PDP.
The final results showed that the APC won the election in a landslide, clearing all 18 local government areas.
By Henry Ukazu
Dear Destiny Friends,
There is no gainsaying the fact that everyone desirous of making impact in life must live a life of purpose. This is where knowledge and information come to play. It is these knowledge and information that will set an individual apart from his contemporaries.
I strongly believe, if one is not informed, they are ill-informed, and when they are ill-informed, they can’t perform well in any given endeavour. This is because information leads to reformation and transformation. We can therefore, confidently say that information leads to formation because everyone is a product of what they know.
Knowledge acquisition is one of the best things that can happen to anyone. People with knowledge are revered, and highly respected. Having knowledge is like having money. People from all walks of life will seek you.
There are different kinds of knowledge, and they include Revealed Knowledge, which comes from those who wrote the Bible and Intuitive Knowledge, which comes from the mind. It is the ability to gain knowledge without conscious reason or explanation.
Others are Empirical Knowledge, which is information gained through observation, experimentation, and direct experience, rather than through theoretical reason or intuition; Authoritative Knowledge, which is the knowledge a man has because of his expertise in a particular field; and finally but not the least, Rational Knowledge, which is a form of knowledge that uses reasoning and philosophy to understand the world.
From this illustration, a decisive mind can see that knowledge is priceless. Knowledge is like education. It can provide security and access. Even the Book of life says in Proverbs 4:13, “your education is your life, guard it very well”; and in Hosea 4:6 that “my people perish for lack of knowledge”.
From my personal experience in life, apart from death, one of the greatest levelers of all time is education. This is because the child of a certified pauper can become a man of means tomorrow if properly educated. That explains why children from humble backgrounds ought to take their education very seriously, especially if they don’t have affluence.
On a personal note, I come from a very humble background, my late parents didn’t have the opportunity of acquiring a decent education, but they knew the value of education and endeavored to give me and my siblings a decent education. In retrospect, when I look back and see some of my contemporaries whose parents couldn’t give them a decent education, I bless my late parents because education has exposed me to lots of opportunities in the United States, and the global world in addition to granting me an audience with the high and mighty in society.
Sometimes, when I look at my modest achievement, I’m deeply humbled because I know it is the grace of God. Who am I to author two amazing trailblazers’ books, get featured and profiled by the New York Times, engage in high level conversation with leaders of thought and captains of industries. Apart from the grace of God, intentional seeking of knowledge, and wise counsel from mentors and strategically positioning myself have been some of the cornerstone to my success.
Imagine if my late parents didn’t give me a decent education and opportunity of travelling to the United States, most of these opportunities and exposure wouldn’t have been readily available.
When one is decently enlightened, educated and informed about life, their level of reasoning and understanding differ from an ordinary man. If one desires to go far in life, one must seek knowledge.
It is your knowledge that sets you apart from others.
According to Dr. Yomi Garnett, an accomplished Ghostwriter, “If you are a man of great knowledge, people will have great respect for you. If you are a man of great wisdom, people will have great reverence for you. And if you are a man of both, great knowledge and great wisdom, you will be the most eminent of men. But in real terms, people don’t care how much you know, or how much wisdom you have, unless they know how much you care.”
The moral of this quote is that despite the knowledge and information at one’s disposal, if one lacks empathy, their knowledge, experience and whatever they have mean nothing.
The importance of knowledge cannot be overemphasized. In our contemporary society, a fast way of attracting opportunities is by showcasing the knowledge at one’s disposal. It is so sad that many people don’t take time to read, research and learn new trends applicable in their industry, and in the world generally and as such, they find it difficult to fit in and grow.
It is instructive to note that when you seek knowledge, opportunities will seek for you. A major reason people are poor is simply because they are not solving problems and to solve problems, one ought to have understanding. Do you know that if you don’t have money, the reason is often because you are not solving a problem, or you are not solving enough problems, or you are not solving the right problem or you are not solving problems for the right people. Generally, we make money because we have something unique to offer to the world. Therefore, to solve problems, one must have knowledge and information.
We currently live in an age of technological, where skills, talent and creativity are in high demand. Any progressive being that desires to go far must be intentional in seeking knowledge. Successful acquisition of knowledge, information and understanding can lead to discernment and wisdom.
In conclusion, as you journey towards life, if you want to make an impact, seek opportunities, and earn more money, do yourself a favour by endeavoring to seek knowledge, wisdom, and information. You can’t get these by sitting on your sofa or staying in your comfort zone.
Henry Ukazu writes from New York. He works with the New York City Department of Correction as the Legal Coordinator. He’s the founder of Gloemi. He’s a Transformative Human Capacity and Mindset coach. He is also a public speaker, youth advocate, creative writer and author of Design Your Destiny Design Your and Unleash Your Destiny. He can be reached via info@gloemi.com
President Bola Tinubu has approved the appointment of Daniel Bwala as Special Adviser, Media and Public Communications (State House).
Bayo Onanuga, Special Adviser to the President on Information and Strategy, announced this in a statement, on Thursday.
A former aide of former Vice-President Atiku Abubakar, candidate of the Peoples Democratic Party (PDP) in the 2023 election, Bwala worked actively for his former principal who lost to Tinubu.
However, after the elections, he worked his way into the camp of Tinubu, sparking controversy.
Onanuga also announced the appointments of three directors-general of various agencies.
They are:
(1) Mr. Olawale Olopade — Director-General, National Sports Commission
(2) Dr. Abisoye Fagade — Director-General, National Institute for Hospitality and Tourism
(3) Dr. Adebowale Adedokun — Director-General, Bureau of Public Procurement
Olopade, the new Director-General of the National Sports Commission, is a sports administrator with many years of experience in the sector.
He served as commissioner of youth and sports in Ogun state and was chairman of the local organising committee of the 2024 National Sports Festival.
The new Director-General of the National Institute for Hospitality and Tourism, Dr. Abisoye Fagade is a marketing communication professional. He is the founder and managing director of Sodium Brand Solutions.
Adedokun, the new helmsman of the Bureau of Public Procurement, was the director of Research/Training and Strategic Planning at the bureau before his appointment.
Daily Trust
