IoT – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Tue, 09 Jun 2026 12:27:36 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png IoT – Tech | Business | Economy https://techeconomy.ng 32 32 FG Launches NITDA Innovation Hub at OAU to Boost AI, Robotics Skills in Nigeria https://techeconomy.ng/fg-nitda-innovation-hub-oau-ai-robotics-nigeria/ https://techeconomy.ng/fg-nitda-innovation-hub-oau-ai-robotics-nigeria/#respond Tue, 09 Jun 2026 12:27:36 +0000 https://techeconomy.ng/?p=183106 The Federal Government has commissioned and handed over the Renewed Hope and NITDA Innovation Hub at Obafemi Awolowo University (OAU) in Ile-Ife, Osun State.

Designed to expand practical technology training for students and young innovators, the facility was unveiled on Monday, June 8, by the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, during a ceremony held at the university.

The hub was launched under the National Information Technology Development Agency in partnership with the Renewed Hope Initiative.

It comes equipped with laboratories focused on artificial intelligence, robotics, additive manufacturing and the Internet of Things. These are areas the government says are highly important to modern industry, both in Nigeria and globally.

Inside the campus, the space is meant to move students beyond theory and into hands-on work. It provides tools that many public universities in the country have found difficult to provide consistently.

Dr Tijani said the NITDA innovation hub should be seen as an investment in young people, both in and outside OAU, rather than just a collection of machines and lab equipment.

He also encouraged students to make use of the facility and take an active role in building solutions that can work in real settings, not just in classrooms.

With this development, the government is linking education more directly with needs across the industry. Officials present repeatedly returned to the idea of practical output, not just academic learning.

The robotics and IoT labs are expected to support hardware development, an area where many Nigerian startups still face limitations due to the cost of equipment and prototyping.

Additive manufacturing, often referred to as 3D printing, also features strongly in the hub’s design. It has growing use across sectors such as healthcare, construction and engineering.

The federal government has in recent years increased attention on digital infrastructure as a foundation for these kinds of projects. Earlier plans outlined by the Ministry include nationwide fibre deployment, expansion of communication satellites, and new rural telecom towers aimed at improving access to connectivity across the country by 2027.

Alongside the government’s initiative, private sector investment is also beginning to impact the direction of innovation hubs in Nigerian universities.

Fintech company Moniepoint has committed about N3 billion to establish innovation centres at Obafemi Awolowo University, University of Nigeria Nsukka, and Ahmadu Bello University, Zaria.

The initiative, announced in May 2026, is designed to support training in areas such as artificial intelligence, software engineering, robotics, data science, product development and entrepreneurship.

The company says its engineers and product teams will be involved in mentorship, workshops and internship pathways. The aim is to make sure students are exposed early to how technology products are built and scaled in real business environments.

Government-led programmes and private funding are now being directed towards building a pipeline of tech talent across different regions of the country.

OAU in the South-West, UNN in the South-East and ABU in the North are among the institutions selected for these projects. The idea is to spread access beyond Lagos and Abuja, where most of Nigeria’s tech ecosystem has traditionally been concentrated.

There are still questions about how sustainable these initiatives will be. Funding is still a challenge, particularly when it comes to maintaining advanced equipment and keeping facilities up to date.

Hardware-based innovation also requires consistent technical support, which universities have sometimes found difficult to provide over time.

Connectivity is another factor that will determine how far these hubs can go. Many of the planned activities depend on reliable internet access and stable power supply, both of which are uneven in parts of the country.

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Why a ₦45 Million Pitchathon Matters in 2026 https://techeconomy.ng/why-a-%e2%82%a645-million-pitchathon-matters-in-2026/ https://techeconomy.ng/why-a-%e2%82%a645-million-pitchathon-matters-in-2026/#respond Mon, 20 Apr 2026 08:25:38 +0000 https://techeconomy.ng/?p=180093 The Nigerian tech ecosystem of 2026 is no longer the wide-eyed, capital-flush frontier it was four years ago. It has matured into a landscape of Market Realism.

While Nigeria remains a titan of African VC – contributing significantly to a digital economy projected to hit $18.3 billion by the end of this year – the metrics for success have fundamentally shifted.

The Data: A Tale of Concentration and Survival

To understand the current stakes, one must look at the 2025 funding data. Last year, Nigeria secured approximately $572 million in total capital.

While the volume suggests stability, the distribution tells a story of extreme selection: just 11 startups captured nearly 83% of all capital inflow.

For mid-stage and early-stage founders, the funding winter is less a chill and more a deep freeze. Equity funding plummeted by 21% recently, as investors swapped speculative bets for businesses with ‘unit economic’ integrity.

In this environment, the ICT sector’s 9% contribution to real GDP isn’t driven by hype, but by essential services: Fintech (holding 47% of all funding), Energy-Tech, and the emerging ‘AI Utility’ pivot.

It is against this backdrop of high-interest rates and capital concentration that The Gathering on 100 – a youth movement – has launched its high-stakes Pitchathon at the National Stadium, Surulere.

The Hustle: ₦45 Million and the 10-Customer Rule

In a market where traditional VC is concentrated at the top, the Pitchathon’s ₦45 million prize pool represents a vital lifeline of non-dilutive capital. However, the organisers are mirroring the market’s new discipline.

The Filter: To even breathe the air on the Pitchathon stage, startups must prove they have survived the first contact with reality.

The ‘10-customer rule – requiring a registered Nigerian entity with at least 10 paying customers or three months of active user data – is a brutal, necessary filter.

It reflects the 2026 mandate: Product-Market Fit (PMF) is the only currency that matters.

The Crucible: 480 Seconds Under the Lights

The 100-hour non-stop event goes beyond lifestyle link-up; it’s a test of technical grit. The competition format is designed to strip away the ‘audacity’ and reveal the architecture:

  • The 5-Minute Walkthrough: Founders must perform a live product demo. In an era of ‘AI-washing, showing the code and the interface in real-time is the ultimate truth serum.
  • The 3-Minute Grill: Judges aren’t asking about vision; they are digging into Customer Acquisition Costs (CAC) and Lifetime Value (LTV).
  • The Crowd Factor: In a nod to community-led growth, the audience holds 25% of the voting power. If you can’t convince the 20-somethings in the stands, you likely can’t scale in the Nigerian retail market.

Beyond Fintech: The Sector-Agnostic Shift

While Fintech remains the ecosystem’s heartbeat, the competition highlights the diversification of the New Nigerian Hustle.

By giving equal billing to AgriTech, HealthTech, IoT, and DefenceTech, the event acknowledges that the next billion-dollar opportunities lie in solving infrastructure gaps, not just digital payments.

As the 100-hour timer counts down in Surulere and registrations continue for the Pitchathon, the competition stands as a microcosm of the entire ecosystem.

It’s a high-pressure demonstration that while the ‘audacity economy’ got them into the stadium, only data, traction, and a working prototype will get them the check.

The event is slated to hold from April 22 to 26 at the National Stadium, Surulere, Lagos. See how to apply here.

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How IoT is Solving Nigeria’s Multi-Billion Naira Equipment Failures https://techeconomy.ng/how-iot-is-solving-nigerias-multi-billion-naira-equipment-failures/ https://techeconomy.ng/how-iot-is-solving-nigerias-multi-billion-naira-equipment-failures/#respond Wed, 01 Apr 2026 15:00:23 +0000 https://techeconomy.ng/?p=178866 In the industrial zones of Kano and the manufacturing plants of Lagos, the sound of a machine grinding to a halt is the sound of money evaporating.

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.

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AI, IoT and the New IT Agenda for Nigeria’s Growth https://techeconomy.ng/ai-iot-and-the-new-it-agenda-for-nigerias-growth/ https://techeconomy.ng/ai-iot-and-the-new-it-agenda-for-nigerias-growth/#respond Wed, 07 Jan 2026 14:58:26 +0000 https://techeconomy.ng/?p=173802 By 2030, more than 25 billion devices are expected to be connected worldwide, each one a potential gateway for both innovation and risk.

Already, 87% of companies identify AI as a top business priority, and over 76% are actively using AI in their operations.

These numbers reflect a profound shift: technology is no longer a backstage support act but a strategic force shaping economies, societies, and everyday life.

Artificial Intelligence (AI) and the Internet of Things (IoT) sit at the heart of this transformation. Together, they are redefining how decisions are made, how risks are managed, and how value is created across industries.

From hospitals monitoring patients in real time to banks using predictive analytics to stop fraud before it happens, AI and IoT are moving from abstract concepts to everyday business tools.

Yet this expansion comes with complexity. As organisations embrace cloud platforms, remote work, and IoT‑enabled systems, their digital footprints grow larger, and so do the threats.

Cybersecurity has become a frontline issue, no longer a technical afterthought but a pillar of resilience and trust.

The role of IT has changed dramatically. Once focused on maintenance and uptime, IT teams now sit at the centre of strategy and risk management.

Cloud‑first architectures and interconnected networks have introduced new vulnerabilities, forcing IT leaders to act not just as problem‑solvers but as proactive partners in innovation.

AI is proving indispensable in this new environment. It can analyse vast datasets, detect anomalies, and automate responses at machine speed, capabilities that traditional approaches simply cannot match.

Combined with IoT, AI delivers real‑time visibility across connected devices, enabling predictive maintenance, intelligent monitoring, and faster decision‑making.

These are not abstract benefits; they are the difference between preventing a cyberattack in seconds or suffering a costly breach.

But the story is not only about opportunity. The rapid adoption of AI and IoT raises pressing questions about ethics, privacy, and governance.

Automated decision‑making must be transparent, accountable, and fair. Organisations also face a widening skills gap, as demand for professionals who can responsibly manage advanced technologies outpaces supply.

Striking the right balance between innovation and control is essential. Security‑by‑design principles, strong governance frameworks, and continuous risk assessment are no longer optional extras. They are the foundation for trust in a digital economy.

Looking ahead, IT will continue to evolve as AI and IoT become embedded in everyday operations. Success depends not only on adopting advanced technologies, but on aligning them with business goals, regulations, and culture.

For Nigeria, this transformation is both a challenge and an opportunity. With its vibrant fintech sector, growing digital economy, and youthful workforce, the country is well‑placed to harness AI and IoT for growth.

Lagos alone hosts hundreds of startups experimenting with AI‑driven financial services, while smart city initiatives in Abuja and other urban centres are exploring IoT for traffic management, energy efficiency, and public safety.

At the same time, Nigeria faces unique vulnerabilities. The country has one of the fastest‑growing internet populations in Africa, but also one of the most targeted by cybercriminals.

Reports suggest that Africa loses over $4 billion annually to cybercrime, with Nigeria accounting for a significant share. As more devices and systems come online, the stakes will only rise.

Government policy will play a decisive role. Nigeria’s National Digital Economy Policy and Strategy (2020–2030) already highlights AI and IoT as critical enablers of growth.

But translating policy into practice requires investment in infrastructure, stronger regulatory frameworks, and public‑private collaboration. Without these, the promise of AI and IoT could be undermined by weak security and poor governance.

Education and skills development are equally vital. Nigeria’s youthful population which is over 60% under the age of 25 represents a massive opportunity if properly trained.

Universities and technical institutes must integrate AI, cybersecurity, and IoT into their curricula, while businesses should invest in continuous upskilling. Otherwise, the skills gap will widen, leaving organisations vulnerable and innovation stunted.

Ethics and trust must also remain central. Nigerians are increasingly aware of data privacy concerns, from mobile banking to health records.

Embedding transparency and accountability into AI systems will be critical for public acceptance. Leaders must ensure that innovation does not come at the cost of fairness or human rights.

Real‑world examples already show the potential. Nigerian hospitals are beginning to explore AI‑enabled diagnostic tools, while logistics companies use IoT to track deliveries in real time.

These innovations demonstrate how technology can improve lives and strengthen businesses,  but they also highlight the need for robust safeguards.

Ultimately, Nigeria’s digital future will be shaped not only by technology but by leadership. IT leaders, policymakers, and entrepreneurs who embrace AI and IoT responsibly  with a clear focus on security, ethics, and long‑term value creation.

This will be best positioned to navigate an increasingly complex threat landscape. The question is no longer whether to adopt these technologies, but how to do so in a way that builds resilience, trust, and sustainable growth for Nigeria’s digital economy.

*Fola Baderin is a cybersecurity consultant and AI advocate focused on shaping Nigeria’s digital future.

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Building Africa’s Digital Backbone: MTN’s Lynda Saint-Nwafor on the Dabengwa Data Centre and Cloud Innovation https://techeconomy.ng/building-africas-digital-backbone-mtns-lynda-saint-nwafor-on-the-dabengwa-data-centre-and-cloud-innovation/ https://techeconomy.ng/building-africas-digital-backbone-mtns-lynda-saint-nwafor-on-the-dabengwa-data-centre-and-cloud-innovation/#respond Thu, 25 Sep 2025 12:35:39 +0000 https://techeconomy.ng/?p=168092 In July, MTN Nigeria unveiled the Dabengwa Data Centre, the country’s largest prefabricated modular data facility, a bold step in redefining Africa’s digital infrastructure.

Built with 96 prefabricated containers in its first phase, the centre is designed with future-readiness at its core, integrating AI-driven energy optimisation, advanced sustainability measures, and robust hybrid cloud capabilities to meet the growing demands of enterprises.

Just this week, the facility earned the prestigious Uptime Institute’s Tier III Certification for Constructed Facility (TCCF), reaffirming MTN’s commitment to world-class standards in reliability, performance, and security.

To understand the vision behind this milestone and how it connects to MTN’s broader digital transformation strategy, Techeconomy sat down with Lynda Saint-Nwafor, chief enterprise business officer at MTN Nigeria, to discuss the role of Dabengwa in shaping data sovereignty, empowering businesses, and positioning Nigeria as a digital hub for West Africa.

Excerpt:

TE: What inspired the launch of the Dabengwa Data Centre, and how does it align with MTN’s long-term vision for digital infrastructure in Nigeria and West Africa?

Lynda Saint-Nwafor (LSN): The Dabengwa Data Centre is about data sovereignty, scale, and sustainability. It’s designed to keep Africa’s data in Africa while enabling businesses to scale securely. For MTN, it aligns with our vision to be the leading digital solutions provider across Africa, building infrastructure that supports long-term economic transformation.

Dr. Bosun Tijani, minister of Communications and Digital Economy, leading other dignitaries to the commissioning of MTN Dabengwa Data Centre in Lagos
Dr. Bosun Tijani, minister of Communications and Digital Economy, leading other dignitaries to the commissioning of MTN Dabengwa Data Centre in Lagos

TE: What makes the Dabengwa Data Centre unique in terms of scale, design, and technology? How does it compare to global standards?

LSN: Dabengwa is Nigeria’s largest prefabricated modular Tier III facility with a 9MW capacity, fully expandable to Tier IV. It meets global benchmarks for uptime, energy efficiency, and compliance, while being locally built and maintained.

TE: How will this data centre enhance data sovereignty, storage reliability, and local cloud hosting capabilities for businesses?

LSN: Hosting locally means lower latency, faster response times, and compliance with Nigeria’s data regulations. More importantly, it gives Nigerian businesses control, keeping sensitive financial, health, and government data within national borders.

TE: Can you speak to the sustainability and energy efficiency measures integrated into the modular design?

LSN: Absolutely. Modular design means we scale as demand grows, reducing wasted energy. The facility also integrates advanced cooling and power systems that lower the carbon footprint, reflecting MTN’s Net Zero 2040 commitment.

TE: How does this infrastructure position Nigeria as a digital hub for West Africa?

LSN: With Dabengwa, Nigeria has the capacity to host, store, and process data not just for local enterprises, but for regional clients. It’s a step towards making Nigeria the digital backbone of West Africa.

TE: What specific gaps or challenges in the startup ecosystem is this programme designed to address?

LSN: African startups are brilliant at innovating, but many struggle with scaling. The Cloud Accelerator addresses gaps in infrastructure, mentorship, and market access, giving founders the tools and platforms to move forward.

TE: How does the programme support startups in sectors like fintech, health tech, and agritech, especially in cloud adoption? Any consideration for media startups?

LSN: Every startup needs infrastructure that scales. Whether it’s payments, health records, or agri-data, our APIs and cloud solutions enable them to operate faster and securely. And yes, media and creative startups are welcome, because they, too, depend on scalable digital platforms.

TE: Beyond cloud infrastructure, what mentorship, funding, or market access opportunities are available to the startups?

LSN: Founders get direct mentorship from experts in Africa’s tech ecosystem, access to funding opportunities, and the chance to integrate with MTN’s platforms, unlocking real customers and revenue pathways.

TE: How are you identifying and selecting high-potential startups across Africa, and what is your vision for scaling their innovations globally?

LSN: We focus on growth-stage startups with live products and proven traction. Our vision is to help them mature in Africa, and then scale their innovations globally through MTN’s network of partners.

TE: How do initiatives like Dabengwa and the Cloud Accelerator fit into MTN’s broader digital transformation agenda?

LSN: They’re at the heart of it. Infrastructure without innovation is wasted capacity. By combining both, we’re building a pipeline for digital transformation that supports enterprises, startups, and national economies.

TE: MTN has long been a telecoms leader. How are you evolving to become a digital ecosystem enabler?

LSN: We’re moving from simply providing connectivity to enabling the entire digital value chain, infrastructure, platforms, and ecosystems. This is how we stay relevant in Africa’s future.

TE: How is MTN supporting digital inclusion among underserved communities, particularly youth and women-led enterprises?

LSN: Inclusion is non-negotiable. Through tailored SME packages, digital skills training, and now the Accelerator, we are ensuring women and young people are not left out of the digital economy.

TE: Can you share insights into MTN’s investment roadmap for emerging technologies such as AI, IoT, or 5G?

LSN: These technologies are already on our roadmap. Our infrastructure is being built to support AI-driven analytics, IoT deployment across industries, and 5G-enabled enterprise solutions.

TE: What should we expect next from MTN Nigeria in terms of innovation, enterprise partnerships, and ecosystem development?

LSN: Expect deeper partnerships, more platforms, and sustained investment in infrastructure. Our commitment is simple: enabling Africa’s digital future, one innovation at a time.

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IoT Technology Market Set to Surge with 8% CAGR by 2032 https://techeconomy.ng/iot-technology-market-set-to-surge-with-8-cagr-by-2032/ https://techeconomy.ng/iot-technology-market-set-to-surge-with-8-cagr-by-2032/#respond Fri, 25 Jul 2025 15:36:46 +0000 https://techeconomy.ng/?p=163844 The IoT Technology Market size will expand at over 8% CAGR from 2024 to 2032, due to ongoing innovations and significant investments.

Companies and researchers are developing new applications and improving existing systems for enhancing connectivity and functionality across various sectors.

Rapid advancements in sensor technology are driving this progress for providing more accurate data collection and enabling smarter decision-making.

Rising efforts for integrating more advanced sensors will further expand the capabilities of IoT systems. For instance, in April 2024, Qualcomm launched new IoT and Wi-Fi technology for industrial applications.

IOT Technology Market Size
IOT Technology Market Size

The new Wi-Fi solution and platform upgrades are enabling on-device AI and enhancing IoT connectivity for advancing performance and integration in industrial environments.

By component, the hardware segment is estimated to rise at a significant rate from 2024 to 2032. Of late, manufacturers are developing and deploying innovative sensors, processors, and connectivity modules to enhance the capabilities and performance of IoT devices.

These components are enabling smarter, more efficient systems to collect and process data in real-time. Subsequently, the ongoing evolution is driving the expansion of IoT applications across various sectors including smart homes, industrial automation, and healthcare for offering enhanced functionality and greater connectivity.

IoT technology industry from the wi-fi connectivity segment is expected to expand from 2024 to 2032 owing to its ability of transforming the ways devices are interacting within this field.

Smart devices are communicating via Wi-Fi for enabling seamless integration and control of home automation systems, wearable technology, and connected appliances. As this connectivity is improving, more sophisticated IoT solutions are emerging with innovations for expanding smart cities and automated transportation.

Regionally, the Europe IoT technology industry size is projected to depict robust growth between 2024 and 2032, propelled by the increasing consumer electronics demand and advancements in security solutions.

Companies are enhancing their offerings to meet this rising demand for incorporating advanced features and improving connectivity.

Lastly, the demand for advanced consumer electronics will propel the market growth on account of the increasingly connected and secure technological landscape across Europe.

[Source]

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MTN: Karl Toriola Champions Telecoms Innovation at TeXcellence 2024 https://techeconomy.ng/mtn-karl-toriola-champions-telecoms-innovation-at-texcellence-2024/ https://techeconomy.ng/mtn-karl-toriola-champions-telecoms-innovation-at-texcellence-2024/#respond Fri, 15 Nov 2024 14:24:01 +0000 https://techeconomy.ng/?p=147661 Mr. Karl Toriola, MTN Nigeria CEO, at the TeXcellence 2024 conference, emphasized the telecommunications sector’s crucial role in advancing Nigeria’s digital economy.

Highlighting the evolution from a traditional telecom company to a full-fledged technology powerhouse, Toriola outlined MTN’s journey and the broader industry’s transformative potential.

Reflecting on MTN’s significant footprint, Toriola highlighted how telecoms have been the backbone of the nation’s digital transformation.

“The telecommunication sector has been a critical driver of economic growth in this country, accounting for 14% of the nation’s GDP. MTN on its own contributes 7% to Nigeria’s GDP and its evolution into a Techco could propel the nation to unprecedented economic heights”.

From the groundbreaking days of GSM licensing in 2001 to the launch of 5G in 2022, MTN has consistently been at the forefront of technological advancement.

Toriola underscored the shift in revenue dynamics, with data now surpassing voice services as the primary income source despite slimmer margins.

He acknowledged the challenges posed by increased competition and external factors, including economic pressures and currency devaluation.

Yet, he stressed that these hurdles are driving the need for innovation in areas like financial inclusion, IoT, AI, and the development of digital ecosystems.

The MTN CEO shared insights into the company’s ambitious projects, such as constructing the largest data center in West Africa and expanding 5G services to deliver high-speed, low-latency connectivity.

He also emphasized the importance of affordability in expanding digital access, pointing out that 71% of Nigerians face challenges maintaining regular internet connectivity due to cost.

Wrapping up, Toriola called for collaboration among industry stakeholders, international partners, and the government to harness Nigeria’s potential and nurture a culture of curiosity and innovation. “Our biggest asset is our people—their drive and ingenuity. By fostering this and investing in our digital infrastructure, we can achieve the vision of a trillion-dollar economy,” he concluded.

Karl Toriola’s keynote address at TeXcellence 2024 revealed that with determined leadership and unified efforts, Nigeria’s telecom and tech sectors are poised to lead the continent in digital transformation.

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eSIM: IoT Connectivity Installation Reached 650m in 2023 – Report https://techeconomy.ng/esim-iot-connectivity-installation-reached-650m-in-2023-report/ https://techeconomy.ng/esim-iot-connectivity-installation-reached-650m-in-2023-report/#respond Wed, 23 Oct 2024 07:59:24 +0000 https://techeconomy.ng/?p=146171 IoT Analytics has released a new report highlighting the role of eSIM and iSIM technology in improving security, simplifying roaming, and facilitating provisioning for cellular IoT devices, though current adoption stands at 33% of the device base.

The research from IoT Analytics shows the global installed base of eSIM-capable IoT connectivity modules reached 650 million in 2023.

While eSIM technology offers significant advantages for cellular IoT connectivity, including remote SIM provisioning and enhanced security, its adoption has encountered obstacles such as complexities in remote SIM provisioning and fragmented standards across the industry.

Recent efforts to ease these challenges come in the form of new specifications, SGP.31 and SGP.32, introduced by the GSMA.

These specifications aim to provide a clearer framework for manufacturers and end-users, potentially accelerating the deployment of eSIM technology.

IoT Analytics anticipates that the market for cellular IoT modules with eSIM technology will witness accelerated growth beginning in the second half of 2025.

These insights are part of their updated IoT eSIM Modules and iSIM Chipsets Market Tracker and Cellular IoT Modules & Chipsets Security Tracker reports.

Satyajit Sinha, principal analyst at IoT Analytics, shared his observations, stating,

“In Q3 2024, we observed a notable shift in CEO discussions toward AI applications, renewable energy, IT resilience, and the upcoming U.S. elections. Despite this shift, economic concerns remained the most discussed theme overall. Historically, changes in CEO discussion themes have been indicators of shifts in sentiment and corporate investment behavior. I expect these emerging topics to play a more prominent role in corporate decision-making moving forward.”

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Smart Home, Smart Security: Lock all the Doors (IOT and Wi-Fi) https://techeconomy.ng/smart-home-smart-security-lock-all-the-doors-iot-and-wi-fi/ https://techeconomy.ng/smart-home-smart-security-lock-all-the-doors-iot-and-wi-fi/#respond Mon, 21 Oct 2024 08:46:18 +0000 https://techeconomy.ng/?p=145948
Craig Blignaut, Product Manager for WiFi at Vox
Smart geysers, pool pumps, doors, fridges, washing machines and gates are opening the door to a whole new world of efficiency but they do present a risk, writes CRAIG BLIGNAUT, product manager for WiFi at Vox

There are more than 400 million smart homes globally. In South Africa, it’s expected to reach 20.6% of the market by 2028 with multiple well-known brands selling smart devices designed to optimise lighting, power and water usage, and home security.  

With the increase of (IOT) Internet of Things Wi-Fi devices, attackers are now targeting smart home appliances, wearables and security systems.

As South Africans become increasingly reliant on smart door locks, smart security cameras, smart smoke detectors, fire alarms and home security systems, it’s equally important that they ensure these smart solutions are secure themselves.

The risk to health and property if a device is left open to hackers is untenable, and yet many homeowners don’t realise how important it is to change the password on their router.

The latter’s password is usually set to default when it’s purchased or installed, and this makes it an easy gateway into any home network.

Then there’s the risk that comes with not using a strong password. According to the World Economic Forum, the world’s most popular passwords are still terrible – 123456 is the world’s most common. It is also the worst.

More than 4.5 million people have used it and it takes a hacker under a second to crack. In fact, if a person’s password appears on any of the top password lists, it’s not going to keep their home safe.

Now, imagine if that password was used to gain access to your home security system. A digitally savvy criminal can remotely open the gate, turn off the beams, unlock the front door, turn off the cameras and the alarms, and walk into your home without anyone noticing.

This becomes even more bone-chilling if you realise that this could all happen while you were at home.

It is not a sign to stop using these devices. The value they add to quality of life is significant. The ability to schedule temperatures, lighting, switches, speakers and appliances is incredibly convenient, and saves both time and money.

It’s more of a call to network action. Yes, you can use your IoT Wi-Fi devices to monitor your solar and improve your standard of living, but do so with a network that’s been optimised to handle the load and the risk.

The network is not only a point of vulnerability, it’s also the key to ensuring it can handle the demands of a comprehensively smart home.

Older routers can handle up to 32 devices at the same time before losing coherence, so the first, most important step, is to prioritise investing into the latest technology.

A modern router with an incredibly strong password will immediately make your network more secure and will make it easier for you to connect multiple devices and gain all the benefits of a smart home and smart technology.

When you optimise your network settings for your IoT Wi-Fi devices, your devices will function better and you will gain better control over performance and network capacity. It sounds complex, but it boils down to using the best possible technology to handle the role.

And this is not just the router. You want reliable equipment and a connectivity provider who can ensure your devices remain secure and functioning optimally.

When you combine the connectivity with the security and the technology, then you have the perfect trifecta of smart home functionality that will deliver the right performance at a consistency it demands.

It also means that as a South African, you get that smart doorbell, intelligent power management and all the other digital bells and whistles within a tight ecosystem that’s geared to protect your home without compromise.

[Featured Image Credit]

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Nigeria to Establish Tech Research Centres Nationwide, Focuses on AI, IoT, and Blockchain https://techeconomy.ng/nigeria-to-establish-tech-research-centres-nationwide-focuses-on-ai-iot-and-blockchain/ https://techeconomy.ng/nigeria-to-establish-tech-research-centres-nationwide-focuses-on-ai-iot-and-blockchain/#comments Wed, 03 Jul 2024 14:16:55 +0000 https://techeconomy.ng/?p=135641 The Federal Government of Nigeria, through the National Information Technology Development Agency (NITDA), has revealed plans to establish research centres with cutting-edge technologies across the country’s six geo-political zones. 

These centres will concentrate on innovations in fields such as Artificial Intelligence (AI), Internet of Things (IoT), and blockchain technology.

The Director-General of NITDA, Kashifu Inuwa, noted this at the IoT West Africa Conference. He outlined the focus areas for the research centres, which go beyond AI, IoT, and blockchain, to unmanned aerial vehicles (UAVs), additive manufacturing, and robotics. 

As explained by the NITDA DG, these specialized research centres are expected to drive advancements in emerging sectors.

In addition to promoting research, NITDA plans to support Nigerian startups developing products based on these technologies. The agency aims to create innovation sandboxes where startups can develop practical applications and bring their ideas to market, supporting the growth of new businesses in the tech sector.

An important part of NITDA’s initiative includes its involvement in the federal government’s 3 Million Technical Talent (3MTT) program. This initiative aims to train and empower three million Nigerians with technical skills by 2027. 

Although some of these individuals may seek opportunities abroad, their expertise will contribute to Nigeria’s global talent pool and potentially increase remittances back to the country, bolstering the economy.

During the IoT West Africa Conference in Lagos, the Managing Director of Vertex Next, Shitij Taneja, highlighted Nigeria’s prospect of becoming “Africa’s Silicon Valley.” 

Taneja noted that Nigeria’s large youth population and dynamic startup sector places the country at the fore in technology development within Africa. 

The conference underlined Nigeria’s growing importance in the tech industry, attracting huge investment and facilitating the development of IoT and other emerging technologies.

The IoT West Africa Conference, co-located with the Africa Data Center and Cloud Expo, showcased emerging technologies and reiterated the essential role of the telecoms industry in the region’s economic growth and digital adoption. 

The event accentuated Lagos’ strategic importance as a hub for technology and innovation, mirroring Nigeria’s rapid technological advancements and the striving digital economy.

Aiming to attract investors’ support in Nigerian startups, the conference further enhances the country’s standing in the global tech industry.

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