For decades, the Nigerian industry has relied on run-to-fail maintenance models – fixing things only after they break.

This approach has led to millions of naira in lost production, emergency repair costs, and shortened equipment lifespans.

However, a technological shift is occurring. Predictive maintenance, powered by IoT sensors, is replacing guesswork with precision.

By monitoring equipment health in real-time, these sensors flag anomalies weeks before a total breakdown occurs.

According to McKinsey & Company, facilities using these systems have recorded up to a 50% reduction in emergency repairs.

The benefits extend beyond just fixing machines. Advanced IoT systems can extend the overall life of industrial assets by 20% to 30%. In a market where capital equipment is often imported at high exchange rates, extending the life of a machine is a critical strategy for financial sustainability.

“The Kano to Lagos industrial corridor is the engine of our economy, and IoT is the high-performance oil that keeps it running. By moving from reactive to proactive maintenance, Nigerian businesses are reclaiming the billions previously lost to downtime. We are proud to provide the NB-IoT and 5G backbone that makes this real-time monitoring possible,” says Babalola Oyeleye, MTN’s chief strategy and innovation officer.

In the logistics sector, the equipment is a fleet of trucks moving across the country. Here, the failures are often operational – fuel theft or engine degradation due to poor driving. IoT-enabled telematics provide visibility into every vehicle’s performance, helping operators save up to 20% on fuel and prevent asset loss.

Even the power sector is finding relief. Smart grid-monitoring sensors allow utilities to detect faults and unauthorised connections instantly.

This is a game-changer for a sector that has long struggled with unreliable supply and distribution losses. Estimates suggest that IoT could save the energy sector up to 40% in current losses.

The oil and gas industry has been an early adopter of this zero-failure philosophy. Digital Oilfield solutions now capture pipeline pressure and temperature data, feeding it directly to control centres for instant intervention. This has led to incident responses that are up to 30% faster than traditional methods.

Small businesses are also joining the movement. Plug-and-play sensors are allowing shop owners to monitor energy usage and secure their premises without needing a dedicated IT team. This democratisation of technology is essential for the broad-based economic growth Nigeria needs.

MTN Nigeria has positioned itself as the primary partner for this industrial transformation. Their IoT Service Management Platform offers centralised control over connected devices, including geolocation and geofencing for mobile assets.

This platform approach simplifies the adoption process for businesses of all sizes.

As Nigeria moves toward 2030, the integration of IoT into the industrial fabric will be the defining factor of success.

The transition from a reactive economy to a predictive one is well underway, ensuring that from Kano to Lagos, the machines – and the economy – keep moving.

Moderated by Cynthia Chisom, programme manager of the MTN Cloud Accelerator, the panel featured:

• Babalola Oyeleye (Babs), chief strategy & innovation officer, MTN Nigeria
• Victor Asemota, a technology investor and founder, Keita Wealth Advisory (joining remotely)

The conversation explored emerging innovation trends, corporate participation in tech ecosystems, and the evolution of Africa’s investment landscape.

Startups Are Expanding Beyond Fintech

Responding to a question on innovation trends across the continent, Asemota said African founders are increasingly tackling critical gaps in health, logistics, energy, and sustainability.

He cited Trashcoin, a waste-management rewards platform, as an example of the emerging wave of impactful innovation.

“Funding will begin shifting into these new sectors,” he said. “Founders are building where the gaps are clear, and investors will follow the impact.”

Corporates Must Embrace Co-Creation, Not Transactions

Oyeleye emphasized that the traditional corporate–startup relationship, primarily transactional, is no longer sufficient.

“Co-creation is now essential,” he said. “Corporates bring infrastructure, customers and scale. Startups bring innovation and speed. When we build together, we shorten time to market and create real impact.”

He stressed that accelerators serve as outsourced R&D engines, enabling corporates to innovate faster while reducing risk.

MTN’s Evolution: From Vendor-Driven to Innovation-Driven

Reflecting on MTN’s transformation, Asemota noted that the company has made “one of the most significant shifts on the continent.”

“I’ve worked with MTN for over two decades. What I see now is different, they’re backing collaboration with real resources: cloud infrastructure, data centres, partnerships. This is not promise-driven; it’s execution-driven.”

Why Corporates Remain Cautious

Oyeleye pointed out that risk aversion remains a major barrier for many Nigerian corporates.

“When capital is limited, companies choose certainty over experimentation,” he said. “But our demographics and challenges demand deeper involvement.”

He revealed that MTN is already exploring what a more structured investment fund could look like, a natural evolution from accelerators to full corporate investment.

What Must Change in Africa’s Investment Landscape

The panelists agreed on the urgent need to expand corporate involvement in funding and acquisitions.

Asemota noted that in Silicon Valley, corporates drive majority of M&A activity, while African corporates still attempt to build everything internally.

“We need corporates to buy, invest, acquire and partner,” he said. “That’s how mature ecosystems grow.”

He also called for reduced ecosystem fragmentation through unified collaboration across investors, founders, corporates and accelerators.

Oyeleye added that access to corporate assets, especially infrastructure and regulatory support, must become easier for startups.

“Telcos have opened up. Banks and other sectors must do more. Collaboration is the way forward.”

A Call to Action

Moderator Cynthia Chisom closed the session by highlighting that Africa’s innovation future depends on coordinated action across technology builders, regulators, investors and corporates.

The panel concluded with a shared message: Africa must build boldly, invest locally, and collaborate deeply to unlock the next decade of innovation.