The refinery plans to issue 3 billion ordinary shares at $0.35 each, setting the valuation and placing the facility among the most valuable privately held industrial assets in Africa.

Investors have shown strong interest, with indications that demand has already doubled the target before allocation closes.

The minimum entry for investors stands at 1 million shares, costing $350,000. Subscriptions can then rise in blocks of 500,000 shares, while investors will also remain locked in for 365 days after allotment.

The funds will support expansion work, logistics systems, storage capacity, and other corporate needs. The refinery also reveals possible moves into related petrochemical operations, although details are broad at this stage.

The facility, which began production in 2024 after years of construction that cost an estimated $20 billion, processes about 650,000 barrels of crude per day. Output now includes diesel, aviation fuel, naphtha, and premium motor spirit.

Investor appetite has stretched beyond Nigeria as institutional investors and diaspora buyers have shown strong participation. Demand levels suggest oversubscription before the process closes.

Femi Otedola has confirmed plans to invest $100 million, drawing from proceeds linked to his Geregu Power stake sale. His entry adds to the high-net-worth participation in the offer.

The size of the valuation and the level of demand have renewed discussion around a possible future listing. No timeline has been set, but there are expectations that a public offer may follow at some point.

Aliko Dangote has previously indicated interest in listing the refinery on capital markets. The current placement is seen as an early step that could expand ownership ahead of any future initial public offering.

The refinery’s scale already places it at the centre of Nigeria’s energy supply chain. It has reduced dependence on imported fuel and created new export channels. Analysts say this position strengthens its appeal to global investors looking for large infrastructure assets with foreign exchange potential.

The implied valuation exceeds the market value of most listed companies on the Nigerian Exchange when taken individually. This comparison has added weight to discussions about how deep investor appetite could run if a full listing eventually takes place.

The private placement is currently attracting commitments from local and international investors, with the level of demand showing strong confidence in the refinery’s long-term production capacity and its role in regional fuel supply.

The post Dangote Refinery Valued at $39.1bn as $1bn Share Sale Draws Strong Investor Demand appeared first on Tech | Business | Economy.

The payments cover certified obligations linked to completed government projects across different sectors.

In the latest round alone, the ministry approved settlements for over 1,240 contractors. Officials say a large share of the disbursement went to small and medium-sized firms affected by long payment delays. 

“The Federal Ministry of Finance has approved payments to more than 1,240 contractors, providing immediate liquidity support to businesses across the country and reinforcing the Federal Government’s commitment to meeting its financial obligations,” the statement said. 

The ministry also noted that about N436.6 billion was processed in May, making it one of the strongest monthly releases in recent months.

Earlier in January 2026, the government released N152 billion after contractor groups carried out activities, including protests led by the Association of Indigenous Contractors of Nigeria (AICAN). 

That protest forced discussions with the Ministry of State for Finance, led by Doris Uzoka-Anite. The Senate later stepped in and set up a committee to engage the ministry and ensure a resolution to outstanding payments.

Contractor associations estimate that total verified liabilities stand at about N4 trillion, covering capital and infrastructure projects executed before and during the 2024 fiscal cycle. 

While the 2026 Appropriation Bill set aside N100 billion for contractor debts, many groups say the figure falls far short of what is owed, and they haven’t stopped pressing for comprehensive settlement.

For many small firms, the payments provide short-term relief. Contractors say the inflows help restart stalled projects in Nigeria, settle workers’ wages, and clear debt owed to suppliers. 

Some also point to reduced stress from banks and lenders after months of limited cash flow caused by unpaid government jobs.

The Finance Ministry maintains that all payments go through strict verification checks before release. Funds are paid directly through Central Bank remittances into contractors’ commercial bank accounts, a system officials say improves traceability and reduces leakages.

The post Nigeria: Finance Ministry Settles Over N700 Billion in Contractors Debt, Prioritising SMEs appeared first on Tech | Business | Economy.

The appointment was announced in a statement issued on Wednesday by Tunde Moshood, Special Adviser on Media and Communications to the minister.

AfDB also confirmed that a Letter of Intent between the bank and Nigeria will be signed during its Annual Meetings in Brazzaville on 28 May 2026.

The programme is designed to enhance Africa’s aviation sector through investment, regulatory alignment and skills development.

AfDB said the selection of Festus Keyamo shows Nigeria’s role in ongoing aviation reforms and its growing influence in regional air transport policy.

In the statement, the bank also set out the funding structure and ambition of the initiative. “This is the Integrated Aviation Transformation Program for Africa (IATP) for which it has earmarked the sum of $7 billion (Seven Billion Dollars),” the statement read in part.

The initiative will draw funding from private investors, institutional capital and concessional sources. AfDB said the aim is to improve connectivity across the continent and make air transport more efficient and competitive.

Africa’s aviation sector is heavily underdeveloped relative to global demand. African airlines account for less than 3% of global air traffic, despite the continent making up close to 18% of the world’s population.

The gap has long been an issue of concern around limited connectivity, high operating costs and weak route integration between countries.

AfDB’s programme focuses on three main areas.

First, it targets the full operationalisation of the Single African Air Transport Market (SAATM), an African Union initiative under Agenda 2063. SAATM is meant to open up African skies, reduce restrictions on air travel between member states and improve regional connectivity.

Second, it aims to strengthen aviation safety oversight and regulatory systems. Many African countries still operate under fragmented safety frameworks, which affect airline performance and investor confidence.

Third, it focuses on developing aviation skills and workforce capacity. The bank said this is necessary to support long-term growth in airline operations, airport management and regulatory institutions across the continent.

Nigeria is one of 34 African countries that have signed up to SAATM. These countries represent more than 80% of Africa’s aviation market.

However, implementation has remained uneven, with slow progress on full liberalisation of air travel between participating states.

AfDB officials said the transformation plan also seeks to improve access to aircraft financing and upgrade airport infrastructure. It is also aligned with efforts to make aviation development more climate-conscious while encouraging private sector participation.

Keyamo’s appointment places Nigeria at the centre of continental discussions on aviation reform. The AfDB said it selected him based on what it described as Nigeria’s policy direction and reform efforts within its aviation sector.

Nigeria has recently pushed changes around airport infrastructure, airline regulation and operational standards, building itself to become a regional hub in West Africa.

The appointment is also expected to strengthen coordination between African states as the AfDB pushes for a more unified aviation market.

Stakeholders have long argued that fragmented air routes and high inter-country travel costs continue to limit trade, tourism and economic integration across the continent.

With the Brazzaville meeting approaching, attention will turn to how quickly member states move from policy commitments to implementation.

The signing of the Letter of Intent is expected to formalise Nigeria’s role in the programme and set out the next phase of engagement between AfDB and participating countries.

The post AfDB Appoints Festus Keyamo to Lead $7bn African Aviation Transformation Programme appeared first on Tech | Business | Economy.

But then, some of the world’s biggest technology companies followed the same pattern in their early years. They spent heavily first, built infrastructure, gained users, and then monetised at scale later.

That is why the move by Flutterwave is way more important than we speak about.

After processing over $40 billion in payments over the last decade, the company secured a Nigerian microfinance banking licence last month, following its acquisition of Mono, the open banking startup often described as Africa’s version of Plaid. 

This is bigger than another fintech expansion story. What Flutterwave has done is move from simply moving money to controlling more of the infrastructure behind the movement of money.

For years, Flutterwave operated between businesses and banks. Companies used their rails to collect payments, settle transactions and move funds across borders, but the actual deposits and core banking functions still depended on licensed banks. The company processed huge volumes, but part of the economics were elsewhere.

That structure is common in fintech. A startup may appear large from the outside because transaction volume is high, but volume does not automatically mean strong margins. 

Many financial technology firms spend years paying partners, covering compliance expenses, subsidising growth, expanding into new countries and building trust before the business model fully matures.

In simple terms, some businesses spend their early years building the road before they can charge properly for traffic.

Flutterwave’s banking licence changes that equation. The licence allows the company to hold deposits directly, offer accounts, expand lending and control settlement flows inside its own ecosystem rather than depending entirely on partner institutions. 

That may sound technical, but it changes the economics of the business in a big way.

Margins improve when a company owns more layers of its infrastructure. Costs that once went to third parties begin to stay within the system. Products become easier to bundle, data becomes more useful, lending becomes possible and customer retention becomes stronger.

This is why the Mono acquisition is also very important. Mono’s infrastructure gives Flutterwave stronger access to account connectivity, financial data, identity verification and repayment intelligence. 

That means the company is no longer thinking only about payment processing. Its focus is a future where payments, banking, verification, lending and financial data operate together.

And that transition explains a fact that many people ignore when discussing startups. Not every serious business is designed to become profitable immediately.

Some companies optimise for early profit, while others optimise for scale, distribution and infrastructure first.

If a company focuses too early on squeezing profit from every transaction, growth can slow down. Expansion becomes harder, product depth suffers and competitors with stronger infrastructure eventually overtake them.

This is especially true in Africa, where building financial infrastructure is far more expensive and fragmented than many outsiders realise.

A fintech operating across multiple African countries must navigate different currencies, regulators, banking systems, compliance standards and settlement structures. 

In many cases, the rails barely speak to one another efficiently. Building around those gaps costs money and takes time.

That is why many African startups spend years appearing “busy but unprofitable”. The asset being built is usually invisible at first.

Trust, distribution, licensing, compliance, partnerships, technical infrastructure, and customer behaviour take years to develop properly.

What investors and founders usually hope is that once those layers become strong enough, monetisation becomes easier and more durable.

Flutterwave now appears to be entering that phase, already managing payments for global brands including Uber and Netflix across Africa. But the bigger shift is gradually moving from being a payments processor to becoming a financial infrastructure company.

That changes who its competitors are and also changes how the company earns money.

A processor earns from transaction activity, while a financial ecosystem earns from multiple layers at once, including deposits, cards, settlements, lending, verification, subscriptions and embedded services. That is a very different business.

Of course, delayed profitability is not automatically a good sign. Some companies simply burn cash without building durable value. Scale alone is meaningless if the economics never improve.

But there is usually a visible pattern when infrastructure businesses begin to mature. They stop renting critical systems and start owning them.

That is what we see behind Flutterwave’s banking licence. For nearly ten years, the company helped businesses move money across Africa while relying heavily on external banking infrastructure. Now, it is beginning to own more of that infrastructure itself.

And in business, that is the point where the monetisation begins.

The post What Business Owners Should Learn From Flutterwave 10-Year Wait for Real Monetisation appeared first on Tech | Business | Economy.

At the same time, the country recorded over 182 million active mobile subscriptions and about 53% broadband penetration as of early 2026.

These statistics are rarely spotlighted in discussions about Nigeria’s tech sector, though they point to the main driver in the field.

While attention is placed on startups, funding rounds and new apps, influence is consolidating around the companies that run the networks.

These include MTN Group and Airtel Africa, not simply as telecom operators, but as companies expanding into digital platforms.

The scale advantage nobody can replicate

Start with distribution. Nigeria has more than 182 million active mobile lines, with stable monthly growth. In January 2026 alone, over 2.5 million new subscriptions were added.

Market share is heavily concentrated, with MTN and Airtel together accounting for close to 86% of mobile connections in the country.

This is not a fragmented market, a small number of operators control access at scale, limiting how far smaller competitors can reach.

That control affects how people come online, how data is used, and how digital services reach users.

Startups build applications, but telcos are in control of the networks on which those applications depend.

From connectivity to control

For years, telecom companies relied on voice calls and SMS for revenue, but that model has changed.

Data now drives earnings, alongside enterprise services and digital offerings.

The transition is measurable and revenue is moving towards:

• mobile data
• business connectivity
• digital service layers

At the same time, telecom operators are expanding into:

• financial services
• developer platforms
• enterprise solutions
• identity and verification systems

This is a change in structure, not just product expansion.

Once a company controls connectivity, expanding into adjacent services becomes a natural progression.

MTN’s reset

Recent changes at MTN Group align with the new direction. A few days ago, the company announced the appointment of five new independent non-executive directors, alongside the planned retirement of long-serving board members. The changes take effect from March 31 and are tied to its Ambition 2030 strategy.

This is part of a governance adjustment. As operations expand across markets and services, oversight structures are being strengthened to match that scale and complexity.

Board composition influences strategic direction, capital allocation and risk management. Changes at that level usually show where a company is heading.

In this case, the direction points beyond traditional telecom operations.

Airtel is focusing on a different future

Airtel Africa is taking a different approach. The company is testing satellite-to-mobile connectivity, working with low-earth orbit systems to extend coverage.

Nigeria still faces infrastructure challenges, including uneven fibre deployment and high rollout costs in rural areas.

Satellite connectivity provides a way around these limits. Coverage is no longer tied entirely to physical infrastructure such as towers and fibre routes.

If scaled, this approach could change how network expansion is done, particularly in underserved areas.

The fintech convergence is inevitable

Telecom operators already have:

• large, verified user bases
• frequent customer interaction through airtime and data
• wide physical and digital distribution

These factors support expansion into:

• payments
• wallets
• remittance services
• credit products

This brings them into direct competition with fintech firms, with the difference lying in the starting point.

Startups build products and then acquire users. Telcos already have users and are building services around them.

The result of this overlap is still unfolding, but the direction is too simple not to understand.

Data flows, and telcos sit at the centre

Nigeria’s digital activity is growing really fast. Monthly data consumption has crossed 1.3 million terabytes, driven by streaming, social media and financial services.

All of that traffic runs through telecom networks.

Operators influence:

• connection speed
• pricing
• reliability

These factors affect how digital services perform and how widely they are adopted.

This places telecom companies in a foremost position within the digital economy.

There is Growth, but access is still uneven

Infrastructure investment is increasing even as the network keeps expanding, with more sites, wider fibre coverage and gradual 5G rollout. MTN alone invested over $1 billion in 2025, targeting wider broadband access.

However, there is still a huge gap.

Broadband penetration is just above 53%, and access is uneven across regions. Again, we can’t leave out the high expenses that limit many users.

Expansion is ongoing, but inclusion is not yet complete.

Regulation will follow power

With telecom companies expanding their role, regulatory attention is increasing.

Issues under focus include:

• data protection
• competition
• infrastructure security

Telecom networks now support financial systems, communication and economic activity at scale.

As their influence grows, so does the need for oversight.

The endgame is already visible

As it stands, telcos across Africa, in a bid to become tech platforms, are expanding into multiple layers of the digital economy.

Their roles are expanding to include:

• financial services
• cloud distribution
• identity systems
• infrastructure platforms

This places them in a position to support and influence a wide range of digital services.

Startups will continue to innovate just as regulators will continue to respond.

But telecom operators will always be indispensable to how digital access is provided and scaled.

So…

Much of the conversation around Nigeria’s tech sector focuses on applications, founders and funding.

That view leaves out the underlying systems that make those services possible.

The more fundamental changes are happening in network expansion, infrastructure investment and corporate strategy.

They are less visible, but they carry long-term weight, and they are steadily changing how the digital economy operates.

The post From SIM Cards to Super Platforms: Why Telcos are Becoming the Most Powerful Tech Companies in Africa appeared first on Tech | Business | Economy.

The event, scheduled to be held at Radisson Blu Hotel Ikeja on April 16, is the 8th edition of the Policy Implementation Assisted Forum centred on the theme, “Accelerating Nigeria’s Digital Backbone: Dig Once Policy, Project BRIDGE and Strategies for Effective Fibre Deployment.”

The gathering comes at a time when the Federal Government is pushing its $2 billion Project BRIDGE to stretch Nigeria’s fibre coverage from about 35,000 kilometres to 125,000 kilometres by 2030.

Many in the sector say this target cannot be met without fixing how infrastructure projects are handled. Hence, the discussion, which is focused on the Dig-Once approach, means laying fibre ducts at the same time roads, rail lines and other public works are built or repaired.

Stakeholders say this simple step could reduce costs and reduce repeated digging.

Data from the Nigerian Communications Commission shows operators recorded more than 50,000 fibre cuts in 2024, with over 60% happening during road construction and repairs. Each incident caused service disruption and forced companies to spend heavily on fixes.

In Lagos alone, operators said they spent more than N5 billion last year repairing damaged fibre lines. That money, they argue, could have gone into expanding networks instead.

Again, companies still deal with high Right of Way charges. Road works often happen without coordination. In many cases, roads are dug up repeatedly to lay cables that could have been installed earlier.

Organisers say the forum will bring all sides together. Government agencies, telecom operators, infrastructure firms and state authorities are expected to agree on a common framework and practical steps for rollout.

Omobayo Azeez of Business Metrics Limited believes the stakes are high. He said Nigeria is not fully benefiting from the several undersea cables already connected to its shores because inland fibre remains weak.

“The Project BRIDGE initiative should excite everyone because of ambitious targets. But for those who understand the operating terrain, and why it took the industry over 20 years to achieve around 35,000km of fibre network that the country currently operates for broadband connectivity.

“The project calls for a major shift in execution approach with the adoption of a National Dig-Once Policy as the starting point.

“PIAFo, now in its 8th edition, is again serving as the viable platform for representatives from government ministries and agencies, senior telecom executives, infrastructure companies, data centre operators, equipment manufacturers, state governments, and industry associations to chart the way forward.”

The forum will include keynote speeches, panel sessions and closed-door talks, and with a goal to agree on regulations that can be applied across federal, state and local levels, and set timelines that can be followed.

PIAFo 8.0 is a chance to fix long-standing problems that have slowed Nigeria’s broadband growth for years.

The post PIAFo 8.0 to Drive Dig-Once Policy as Nigeria Targets 125,000km Fibre Network appeared first on Tech | Business | Economy.

The implementation of these will increasingly require Government, the private sector and key civic institutions to cooperate and partner to overcome the onslaught of cyber security challenges facing the continent, Check Point says.

Based on research from the Check Point African Perspectives on Cyber Security Report 2025, the announcement highlights a continent where digital growth is leapfrogging traditional infrastructure, but also expanding the attack surface for systemic risk.

With African organisations facing an average of 3,153 cyberattacks per week – a staggering 60% higher than the global average, Check Point’s research highlights a continent at a pivotal crossroads between rapid AI adoption and escalating systemic risk.

“In 2026, digital trust has transitioned from an IT priority to core economic infrastructure for Africa,” says Lorna Hardie, regional director: Africa for Check Point Software. “As the continent leapfrogs traditional infrastructure with AI-driven fintech and energy solutions, the ‘Security Gap’ has become a trillion-dollar challenge that requires a shift from reactive detection to prevention-first resilience.”

The 8 Key Trends for 2026:

1. Agentic AI Before Governance

By 2026, autonomous AI agents, capable of acting without human oversight, will be integrated into African logistics and finance. However, with private-sector adoption outpacing national AI strategies in Kenya, Nigeria, and South Africa, a “governance gap” has emerged that requires urgent transparency and explainable AI.

2. Mainstream Deepfake Fraud

In Africa’s mobile-first economy, AI-generated deception has become the fastest-growing threat. With SIM-swap fraud already costing South Africa over R5 billion annually, 2026 will see the rise of cloned voice approvals and synthetic interactions that bypass traditional mobile authentication.

3. Cloud Misconfigurations Overtaking Malware

As mission-critical systems migrate to the cloud, human error has become a greater risk than malicious code. In Africa’s complex hybrid environments, 60% of incidents now result from “permission drift” and unmonitored APIs rather than traditional malware.

4. Data Extortion Targeting Critical Infrastructure

Ransomware has evolved into “data-pressure” operations. As industrial digitalization in Africa grows 30% annually, the focus has shifted from availability to integrity—where a corrupted dataset in a power grid can trigger cascading real-world disruption.

5. External Risk Scores as Board KPIs

Cybersecurity is now a board-level discipline. By 2026, external risk ratings and exposure scores will influence corporate creditworthiness and investment, joining financial and ESG performance as markers of maturity for African enterprises.

6. Regulation as a Trade Currency

The convergence of the EU’s NIS2 Directive and African data laws has made cyber resilience essential to trade. African exporters must now prove compliance to maintain market access, turning regulation from “paperwork” into a competitive performance metric.

 7. The National Skills Crisis

Africa faces a critical share of the global five-million-person talent shortage. With over 200,000 unfilled cybersecurity roles on the continent, cyber sovereignty now depends on building local “defenders of tomorrow” rather than importing external expertise.

8. MSSPs as the Resilience Engine

Managed Security Service Providers (MSSPs) have become Africa’s operational backbone. By 2026, most African firms will consume security “as-a-service,” using MSSPs to democratise advanced AI-assisted defense and bridge the talent gap.

“In 2026, cybersecurity has evolved from a defensive wall to the living rhythm that underpins African innovation,” says Hardie. “Africa’s digital future will be defined by tempo—our ability to embed security into our growth story from the start.”

Check Point African Perspectives on Cyber Security Report 2025 can be accessed here.

The post Check Point: Eight Key Trends Will Define Africa’s Cyber Security in 2026 appeared first on Tech | Business | Economy.

The MTN executive made the call while delivering a keynote speech on “Accessing the Global Creative Innovation in a Digital Economy” at the Nigerian Entertainment Conference, NECLive 2025, themed:  “Powering Africa Through Creative Enterprise”,  held recently, in Lagos.

Speaking on the topic: “Accessing the Global Creative Innovation in a Digital Economy”, Mumuni said that unlocking Africa’s access to global digital assets requires transforming local customs, people, and platforms to create sustainable revenue for creative industries.

“Africa is a cultural powerhouse without global access. Our creators on social platforms, our fashion influencers, and our filmmakers need to come to the global stage. What we do not have is the global right. We do not control the data, we do not prioritise the impact, we do not own the platform. We explore creativity, but we import the system without profiting from it.” She said.

Mumuni emphasised the importance of broadband policies, digital copyright protections, and clear monetisation opportunities, saying,

“Africa has the youngest population on earth, which is a leverage. We must invest in AI, coding, digital skills, and content production. Creativity without a platform cannot sail.”

Mumuni warned that without strategic investment and planning, African innovation risks remaining local while foreign platforms continue to benefit.

According to her, African content, whether in music, film, fashion, or digital media, must be positioned strategically to reach global audiences while retaining cultural identity.

In her words:

“The world expects good stories. Africa’s stories are rooted in culture, resilience, and spirituality. To unlock Africa’s access to global digital assets, we must transform investment, policy, and perception.”

She noted that deliberate reforms and strategic support for African creatives would not only enhance global competitiveness but also generate lasting economic impact, and help Africans to benefit from its own creativity rather than exporting value to foreign platforms.

The post NECLive: MTN A’isha Mumuni Seeks Investment Reforms to Boost Creative Economy appeared first on Tech | Business | Economy.

But they cannot act in isolation. Government, donors and the private sector need to move as one if resilience is to take root in Nigeria.

In late May 2025, flooding in Mokwa in Niger State killed at least 117 people and left several still missing. Earlier, heavy rains destroyed homes and claimed at least 21 lives in north-central Nigeria. 

On August 6, the federal government issued flood alerts for 19 states, warning of further extreme rainfall between August 5-9. 

These events show a pattern of high climate risk: poor drainage, urbanisation, infrastructure vulnerability and changing rainfall patterns all combine to raise the stakes for agriculture, food security and human lives.

Why this is important – the drivers

• Scale of the hazard. Floods are not occasional. The Mokwa event was one of the deadliest in recent years. Lives and livelihoods are being wiped out.
• Underlying drivers. Rapid urban growth, informal settlements without drainage, old dams or reservoir‐releases (the latter implicated in past flood alerts) and infrastructure that wasn’t built with climate resilience in mind. 
• Financial gap. According to the latest report by Climate Policy Initiative, Nigeria mobilised about $2.5 billion in climate finance in 2021/22, up from $1.9 billion in 2019/20, but the annual gap (the amount needed vs the amount mobilised) is around $27.2 billion. 
• Data & systems weakness. There are limited hydrological sensors, weak last-mile alerting, and procurement systems that favour large infrastructure over agile tech-solutions.

What startups can build (and why)

Here are four areas of opportunity where startups can move from idea to impact.

1. AgTech for small-holder resilience

Startups can deliver climate-smart advisory (micro‐weather + seasonal forecasts), flood/drought-tolerant seed systems, bundled micro-insurance linked to weather triggers, and credit for replanting after floods. 

The reason: agriculture is highly exposed; floods destroy farmland and disrupt planting cycles. A viable business model could be subscription advisory plus revenue share on inputs and insurance commissions.

2. Urban resilience & data-driven infrastructure

A startup might build flood-risk mapping using satellite & local sensors, dashboards for municipalities or utilities, plus partnering with local contractors for nature-based drainage solutions. 

Drainage failures, particularly in fast-growing urban zones, magnify losses. Monetisation may come via B2G contracts (municipalities), and SaaS for decision-makers.

3. Disaster early-warning & last-mile alerting

Existing forecast agencies (e.g., the Nigeria Meteorological Agency and Nigeria Hydrological Services Agency) generate data. The gap is last-mile: reaching communities with actionable alerts, setting up evacuation triggers, and automating cash transfers tied to events. 

Startups can provide alert platforms, community-volunteer networks, and cash-trigger logic. Revenue comes from contracts with federal/state agencies or donors financing early‐warning programmes.

4. Data & risk-finance platforms

Startups can build APIs that feed river/dam sensor data, flood-indexes for insurers, and platforms that match resilience projects with blended finance. 

This matters because insurers, lenders and investors require data and pipelines to underwrite risk and invest in adaptation. Business models: licensing data/APIs, performance-based contracts, or match-making fees.

Real barriers—for clarity

I don’t want to sugar-coat it. To succeed, startups must navigate tough obstacles:

• Demand and payment risk. Many users (farmers, low-income communities) either cannot pay or are unwilling; commercial viability is weak without subsidy or public procurement.
• Procurement friction. Governments usually prefer big infrastructure contracts; small pilots are easier but scaling is slow.
• Finance constraints. As CPI found: “affordability of finance” and “limited supply of bankable projects” are major limitations. 
• Data gaps & interoperability. Without local sensors, standardised APIs or institutionalised data-sharing, solutions remain brittle.
• Policy/regulation lag. If legal frameworks, open data mandates and procurement reforms don’t keep pace, startups are left in limbo.

Government role – what must happen

If I were advising a government, I’d urge these five actions:

1. Commit to rapid procurement windows: allocate dedicated budgets for resilience tech (not just studies) so startups can contract and scale.
2. Mandate open data/ APIs from agencies like NiMet and NIHSA; make hydrological & meteorological data accessible.
3. Establish blended-finance/guarantee facilities that de-risk private investment in resilience (so startups can raise funding).
4. Embed impact-based early-warning systems in national disaster-risk management plans; authorise automatic triggers (e.g., cash transfers, evacuation alerts) when thresholds are exceeded.
5. Support local capacity at state and municipal level: invest in drainage, sensors, maintenance funds and community-volunteer networks.

Donors & development finance – their move

Donors and multilateral funds should focus on enabling, not just funding studies:

• Provide first-loss and outcome-based grants to make resilience commercially viable for startups.
• Fund data infrastructure: sensors, river gauges, ground monitoring networks and software platforms.
• Support risk transfer mechanisms, e.g., parametric insurance tied to flood/crop loss, accessible for rural farmers.
• Act as procurement catalysts: fund multi-year contracts that governments can absorb, reducing risk for startups.

Quick wins in next 12 months

• Launch a low-cost river-gage + SMS alert pilot across 1-2 high-risk LGAs identified by federal alerts.
• Bundle climate-smart advisory + micro-credit + parametric insurance for crop planting next season.
• Co-develop with NiMet a verified API feed for flood forecasts and package it commercially to insurers.

Medium to long-term (1-5 years)

• Build integrated river-basin monitoring (NIHSA + regional partners) and link to automated insurance triggers.
• Expand urban-resilience programmes: retrofit drainage, deploy nature-based solutions, create maintenance markets.
• Develop national procurement frameworks & climate-resilient infrastructure codes so tech innovation is institutionalised.

KPIs worth tracking

Choose measurable indicators:

• Time from warning to evacuation (hours) in pilot areas.
• Number of smallholders covered by parametric protection.
• % reduction in crop loss in project pilot zones year-on-year.
• Time from pilot to procurement contract for a resilience startup (months).
• Amount of blended finance mobilised (USD) for resilience.
• Number of municipalities using startup-delivered dashboards.

Risks & ethical issues

• Beware of “tech-solutionism”: technology alone won’t solve structural issues. Community involvement matters.
• Data privacy: especially for farm, household or geospatial data. Ensure consent and benefit sharing.
• Elite capture: resilience programmes must reach marginalised groups, not just well-connected players.

I believe we have a real opportunity in Nigeria. Startups are prepared to build the tools; the urgency is undeniable. But without policy clarity, finance reform and institutional buy-in, innovation will stall in pilots. 

If the next 12 months see coordinated action among startups + government + donors, we’ll move from reactive relief to proactive resilience.

The post Turning Climate Challenges into Opportunities: How Startups, Government and Donors Can Build Resilience in Nigeria appeared first on Tech | Business | Economy.

This contrast, according to Engr. Gbenga Adebayo, National Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), reveals how far the nation has grown in connectivity, and how far it still has to go.

Speaking at Nigeria’s first Rural Connectivity Summit, organised by Business Metrics in Lagos, themed “Rethinking Digital Connectivity to Unlock Rural Economic Potential,” the Chairman of ALTON noted that while Nigeria’s telecom sector has made progress in 24 years, true digital inclusion is still out of reach for many living in rural areas.

“People are concluding transactions, doing e-services, and even talking to their doctors as we speak. This is how far we have gone as a people in 24 years,” Adebayo said, recalling how making an international phone call once required hours of waiting at public call centres in Lagos.

He described the divide between urban and rural areas as “a major departure,” pointing out that in many villages, residents still climb hills or trek to mountaintops just to get mobile network signals. For him, the question at the centre of the rural connectivity challenge is fundamental: “Who should own the local network?”

Adebayo argued that just as communities once came together to build schools, churches, and mosques, they should also be empowered to build and own their local communication infrastructure. “If the communities own those networks, they will protect them. It will be difficult for anyone to vandalise what they built,” he stated.

He criticised the frequent vandalism of telecom sites, describing how solar panels are sometimes stolen and used for leisure activities. “Today, we are seeing cases of people vandalising sites and taking the solar cells to play table tennis in the village square. That will not happen if they own those networks,” he said.

Adebayo urged government and regulators to create incentives for rural operators, including tax waivers, free rights of way, and easier access to land. Pointing to Niger State as an example, he said large-scale solar farms could thrive there if policies encouraged investment. “If you want to deploy hundreds of kilometres of solar farms, go there. The land is free,” he said.

He also proposed that Nigeria’s data centre operators should consider relocating parts of their operations to rural states where land is cheaper and more available. “In the centres where we are concentrated, we are struggling for everything, from power to water. Maybe it’s time we begin to think of taking some of these data centres offsite,” he added.

The ALTON Chairman emphasised that rural connectivity shouldn’t be limited to infrastructure, ensuring new opportunities, security, and restoring dignity are highly important. “Rural connectivity is not just about expanding network coverage, but about expanding opportunities,” Adebayo said. 

“If people have the same value and opportunities in those tier two, three, and four cities, they will have a better quality of life than the daily struggles in the urban centres.”

“Together, we can be rural connected, not just as a policy aspiration, but as a living reality in every part of the country.”

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