The National Information Technology Development Agency (NITDA) has renewed its call for Nigeria to take ownership of its digital infrastructure and data hosting, as part of efforts to establish the country as a leading technology hub in Africa. Speaking at the inauguration of a Technical Working Group (TWG) in Abuja on Monday, the Director-General of NITDA, Malam Kashifu Inuwa Abdullahi, emphasized the importance of achieving digital sovereignty. He noted that hosting data locally is critical for attracting hyper-scale investments and fostering the growth of Nigeria’s tech ecosystem. “Our goal is to build an ecosystem where local data center providers can scale, and global hyper-scalers see Nigeria as a viable investment destination,” Inuwa stated. Inuwa highlighted several challenges hindering Nigeria’s digital development, including the lack of accurate data on the country’s IT capacity. This gap, he said, has discouraged potential investors from entering the market. To address this, NITDA has conducted comprehensive research to assess Nigeria’s digital landscape. The findings pointed to the need for improved regulatory frameworks, clearer investment incentives, and stronger public-private collaboration. Inuwa revealed that NITDA has engaged global consultants to redefine strategies for cloud development and enhance the country’s data hosting capacity. Despite Africa accounting for 19% of the world’s population, the continent hosts less than 1% of global data centers—a statistic NITDA is determined to change. Inuwa called on industry experts, policymakers, and stakeholders to support NITDA’s initiative, stressing that collective effort is essential to position Nigeria as the premier digital hub in West and Central Africa. “As the TWG embarks on its mission, we urge all stakeholders to contribute their expertise and resources to this initiative,” he said. The Acting Director of NITDA’s Regulation and Compliance Department, Mr. Emmanuel Edet, also underscored the importance of regulatory intervention in building a robust digital economy. He noted that capacity building is vital to developing infrastructure and enabling Nigeria to fully leverage digital technologies while ensuring data security through local hosting. The TWG, established by NITDA, will play a pivotal role in driving the development of a national cloud infrastructure. The group is tasked with identifying challenges in Nigeria’s digital ecosystem, recommending policies, and fostering partnerships between public and private sectors to accelerate progress toward digital sovereignty. Members of the TWG include representatives from global tech giants such as Google, Amazon Web Services (AWS), IBM, Oracle, Microsoft, Huawei Cloud, Equinix, Kasi Cloud, Rack Centre, and Africa Data Centres. The Nigeria Data Protection Commission is also part of this collaborative effort.
Multichoice Nigeria announces new price hike for DStv and GOtv subscriptions effective March 1
Pay-TV giant, Multichoice Nigeria, has announced another round of price increases across its DStv and GOtv subscription packages, set to take effect from March 1, 2025. The company communicated this adjustment to its customers on Monday, citing rising operational costs driven by inflation and currency depreciation in Nigeria. In the notice titled “Price Adjustments for DStv and GOtv Packages,” Multichoice explained that the decision was necessary to maintain the delivery of high-quality local and international content using advanced technology. The price adjustments affect all tiers of both DStv and GOtv services. Below is a breakdown of the new pricing: DStv PackagesDStv Compact: From ₦15,700 to ₦19,000 (25% increase) DStv Compact Plus: From ₦25,000 to ₦30,000 (20% increase) DStv Premium: From ₦37,000 to ₦44,500 (20% increase) GOtv PackagesGOtv Jinja: From ₦3,600 to ₦3,900 GOtv Jolli: From ₦4,850 to ₦5,800 GOtv Max: From ₦7,200 to ₦8,500 GOtv Supa: From ₦9,600 to ₦11,400 GOtv Supa Plus: From ₦15,700 to ₦16,800 Multichoice attributed the price hike to the rising cost of doing business in Nigeria. The company cited economic challenges such as the depreciation of the naira and inflation, currently over 30%, as key factors inflating its operational expenses. These economic pressures have also impacted household budgets across the country. This announcement comes on the heels of similar price increases in 2023 and 2024. Last year alone, Multichoice raised prices twice, in April and November, leading to significant customer dissatisfaction. By September 2024, the company reported losing 243,000 subscribers in just six months due to these adjustments and economic hardships faced by Nigerians. While some customers may see this as an added burden amid rising costs of living in Nigeria, others may explore alternative entertainment options or downgrade their packages. Multichoice has previously faced legal challenges over its pricing policies but has consistently defended these decisions as necessary for sustaining its services. For existing subscribers looking to adjust their plans or understand how this impacts their budgets, Multichoice encourages them to visit their nearest service center or contact customer support directly.
Alibaba joins global AI race with $53 billion investment.
Alibaba Group has announced plans to invest approximately $53 billion over the next three years in AI infrastructure. This monumental commitment marks the largest private computing project to date, underscoring Alibaba’s ambition to become a global leader in AI and cloud computing. The investment will primarily focus on expanding data centers and enhancing cloud computing capabilities, positioning Alibaba to compete with tech giants like Microsoft, Google, and OpenAI. CEO Eddie Wu emphasized the company’s focus on Artificial General Intelligence (AGI), a vision of AI that mimics human cognition. Despite challenges posed by U.S. restrictions on semiconductor exports, Alibaba sees AI as a key driver of future growth. The move follows a period of regulatory scrutiny and signals a potential thaw in relations with the Chinese government. Alibaba’s cloud division will be central to this initiative, aiming to provide critical infrastructure for businesses developing AI applications. The company has already seen success with its Qwen AI model and has partnered with global tech firms like Apple
Bybit recovers from $1.4 billion hack, restores full client reserves
Cryptocurrency exchange Bybit has announced a full recovery from a devastating $1.4 billion hack, one of the largest thefts in crypto history. The attack, believed to have been carried out by the North Korea-backed Lazarus Group, targeted Bybit’s multisignature cold wallet, resulting in a massive loss. However, through a combination of strategic moves, the company has managed to restore its reserves and reassure its users. To bridge the gap left by the hack, Bybit took swift and decisive action. The exchange purchased 266,694 ETH (worth approximately $742 million) to stabilize its reserves. This large-scale acquisition contributed to a 6% rebound in Ethereum prices after a recent market dip. In addition to direct purchases, Bybit received significant support from institutional investors and whale deposits. Blockchain data shows that the exchange secured 446,870 ETH (worth roughly $1.23 billion) from various sources: A single over-the-counter transaction brought in 157,660 ETH (valued at $437.8 million). Another 109,033 ETH ($304.1 million) came from centralized and decentralized exchanges. Institutional contributors included Bitget (40,000 ETH worth $106 million), MEXC (12,653 stETH worth $33.9 million), and other entities like Mirana Ventures and Fenbushi Capital. These efforts allowed Bybit to fully recover its reserves and ensure that all client assets remain secure. Bybit CEO Ben Zhou confirmed the recovery in a statement on social media platform X (formerly Twitter), saying the exchange has “fully closed the ETH gap.” Zhou also announced plans to release an audited proof-of-reserves report soon. Using a Merkle tree system, this report will verify that all client assets are backed on a 1:1 basis, underscoring Bybit’s commitment to transparency and security. The attack on Bybit appears to be part of a broader pattern of crypto thefts linked to the Lazarus Group. Blockchain investigator ZachXBT found on-chain evidence connecting the Bybit hack to a recent breach at Phemex, another cryptocurrency exchange. The attackers reportedly used similar tactics to merge stolen funds across both incidents. While the hack was a major setback for Bybit, the exchange’s rapid response and transparent recovery efforts have helped restore user confidence. With plans to publish an audited report and maintain full client asset backing, Bybit is positioning itself as a resilient player in the volatile world of cryptocurrency.
President Tinubu pledges support for Flutterwave’s digital economy expansion and SME growth
President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to supporting Flutterwave, a leading African financial technology company, in its efforts to expand the digital economy, empower youth, and promote small and medium-sized enterprise (SME) development. During a strategic meeting at the Presidential Villa in Abuja, President Tinubu engaged with Flutterwave’s leadership to discuss initiatives aimed at fostering job creation, entrepreneurship, and economic diversification. The meeting builds on a recent Memorandum of Understanding (MoU) between Flutterwave and the Federal Ministry of Youth Development. This partnership focuses on mentorship programs, access to start-up funding, and skill development for young Nigerians, key components of Tinubu’s Renewed Hope Agenda. The collaboration between Flutterwave and government agencies such as the National Youth Service Corps (NYSC) and the Citizenship and Leadership Training Centre (CLTC) is set to provide young entrepreneurs with technical training, leadership development, and business funding. The initiative aims to strengthen Nigeria’s entrepreneurial ecosystem by leveraging digital innovation to create sustainable employment opportunities. Hon. Ayodele Olawande, Nigeria’s Minister for Youth Development, highlighted the importance of this initiative in equipping young Nigerians with essential entrepreneurial skills. Similarly, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has partnered with Flutterwave to enhance financial access for micro, small, and medium-sized enterprises (MSMEs). This includes offering advanced digital payment solutions, working capital loans, and capacity-building programs to help Nigerian businesses compete globally. Flutterwave is also collaborating with the National Information Technology Development Agency (NITDA) to lead digital transformation initiatives aimed at increasing technology adoption among SMEs. Kashifu Inuwa Abdullahi, Director-General of NITDA, emphasized that improving digital infrastructure is critical for economic growth. Flutterwave CEO Olugbenga Agboola reaffirmed the company’s dedication to empowering Nigerian youth and businesses through technology-driven solutions. He noted that public-private partnerships are essential for fostering innovation and achieving long-term economic impact. Tinubu’s Vision for Nigeria’s EconomyPresident Tinubu praised Flutterwave’s leadership in the fintech sector as an example of how homegrown innovation can drive national progress. He stressed his administration’s commitment to removing obstacles that hinder business growth, positioning Nigeria as a global leader in fintech. “Together, we’re removing barriers so businesses can thrive,” Tinubu stated. “Nigeria is open for business.” With operations in over 30 countries across Africa and beyond, Flutterwave continues to play a pivotal role in diversifying Nigeria’s economy by providing cutting-edge payment infrastructure services. The company is also seeking support as it prepares for a potential listing on the Nigerian Exchange (NGX), further solidifying its position as a global fintech leader.
FG to monitor third mainland bridge via CCTV from Abuja
The Federal Government has announced plans to remotely monitor activities on the Falomo-Third Mainland Bridge and its ramps using newly installed Closed Circuit Television (CCTV) cameras. This surveillance will be conducted from Abuja, marking a significant step in enhancing security and traffic management on one of Lagos’ busiest thoroughfares. Minister of Works, Senator David Umahi, revealed this development during a stakeholder engagement on the Lagos-Calabar Coastal Highway project. The initiative extends beyond mere surveillance, as it’s part of a broader rehabilitation effort that has seen improvements from the Third Mainland Bridge to Falomo. “We’ve extended the bridge rehabilitation beautifully from Third Mainland Bridge down to Falomo,” Umahi stated. “We’ve installed street lights and CCTV cameras. Whatever you’re doing on that stretch of Falomo to Third Mainland Bridge and the ramps, we’re seeing you. It’s on camera, and we’re routing it down to Abuja.” This system mirrors the one already in place on the Second Niger Bridge, allowing officials to monitor traffic flow and respond quickly to any incidents. The minister also expressed concern about excessive speeding on the newly rehabilitated bridge, urging motorists to slow down. “The speed there is terrible. If we put speed bumps, it will create heavy hold-ups on the bridge,” he warned. To enforce speed limits, officials will rely on footage from the installed CCTV cameras. This development comes after the Third Mainland Bridge reopened in April 2024 following five months of extensive repairs. The government had previously set a speed limit of 80 km/hr on the bridge to reduce the risk of accidents.