This expansion shows a dynamic mix of regulatory changes, private‑sector innovation, expanding connectivity and dynamic digital policy frameworks at home and abroad. 

Internet connectivity and digital adoption have also grown, but not uniformly. In late 2025, Nigeria had 109 million internet users, equal to about 45.5% of the population, while nearly 130 million people were offline, mostly in underserved regions. 

This means Nigeria’s digital economy is large, burgeoning and indispensable to national growth, but still finding it difficult with structural gaps in connectivity, regulation and inclusion.

Hence, let’s examine the policies in Nigeria impacting this growth, as well as the global digital economy policies and standards that are influencing Nigeria’s digital growth and sustainability in 2026.

Nigeria’s Core Digital Economy Policies

The digital sector in the country is anchored in a suite of policy frameworks and proposed laws that have matured through 2025 and into 2026.

1. National Digital Economy Policy and Strategy 2020–2030

At the centre of Nigeria’s digital policy architecture is the National Digital Economy Policy and Strategy (NDEPS) 2020–2030. 

This blueprint identifies key pillars including infrastructure, digital literacy, service platforms, regulation, innovation ecosystems and more, and sets targets for digital integration across sectors.

It is the umbrella under which most other digital reforms sit, including broadband expansion, digital public infrastructure (DPI), skills development and data governance. 

Agencies across government are now aligning their implementation plans to NDEPS goals, making it the principal reference point for regulators and investors alike.

The strategy is the primary driver of Nigeria’s digital policy priorities to 2030.

2. The National Digital Economy and E‑Governance Bill

One of the most consequential legal instruments in 2026 is the National Digital Economy and E‑Governance Bill. 

Passed by the National Assembly and awaiting final assent early this year, the law will be a foundational statute for digital regulation.

Under its provisions:

• Government digital services must meet statutory standards for reliability and interoperability.
• Regulators are empowered to oversee algorithms, digital platforms, data governance and digital identity systems.
• Risk assessments and compliance obligations will be required for digital systems used in public administration and critical services.

The Bill will effectively give regulators expanded powers over digital governance structures, closing gaps in statutory oversight. 

3. Data Protection Framework

Since the 2023 Nigeria Data Protection Act (NDPA), enforcement has enhanced, with the Nigeria Data Protection Commission issuing guidelines and compliance timelines.

By 2026, the NDPA’s enforcement mechanisms are expected to be fully operational, imposing clear requirements on data controllers and processors, especially for personal and cross‑border data, a critical area for fintech, e‑commerce, healthtech and digital services.

This legislation is compulsory. Firms handling personal data now face defined regulatory obligations, with penalties for non‑compliance adequately enforced.

4. Cybersecurity Policy and Strategy

Nigeria’s National Cybersecurity Policy and Strategy (NCPS), updated in recent years, aims to strengthen national resilience against cyber threats. It emphasises:

• Protection for critical infrastructure
• Incident reporting systems
• Collaboration between public and private sectors
• A risk‑based compliance model

Although there are still gaps in enforcement capacity and coherence across agencies, the NCPS anchored the cybersecurity environment for digital commerce, government platforms and national infrastructure.

Recent studies show that Nigeria still faces enduring challenges in resource coordination and legislative clarity, suggesting further improvements will be needed beyond 2026. 

5. Broadband and Connectivity Policies

Connectivity underpins every aspect of the digital economy. Nigeria’s National Broadband Alliance and successor initiatives aim to achieve broadband access targets set under the National Broadband Plan. 

But then, as of mid‑2025:

• Broadband penetration stood at about 48.8%, short of the original 70% target. 
• Rural areas were still notably underserved, enlarging the rural-urban digital divide.

Policy reforms in 2026 focus more on reducing cost obstacles (e.g., rights‑of‑way reform) and incentivising private investment in fibre and wireless infrastructure.

6. Digital Skills, Innovation and Startup Policies

Nigeria is expanding digital skills initiatives, including collaborations between government, industry and academic institutions. 

These programmes supply talent to the growing tech sector, support innovation clusters and help bridge gaps in tech workforce readiness.

Relevant initiatives include:

• Expanded digital literacy programmes (public and private)
• Targeted training for young professionals in software, cybersecurity, AI‑related skills
• Regulatory incentives that support growth in startup ecosystems

These policies are better recognised as essential to sustaining Nigeria’s digital growth.

Global Policies and Standards Influencing Nigeria (2026)

Nigeria does not operate in a policy vacuum. Multiple international frameworks and regulatory regimes now affect domestic strategy, especially where digital services cross borders or foreign investment and trade are involved.

Here are the key global policies in 2026 that are important to Nigeria:

1. European Union Artificial Intelligence Act

The EU AI Act, adopted in 2024 and set to become fully applicable by 2 August 2026, is the world’s first comprehensive regulatory framework for artificial intelligence. 

It uses a risk‑based classification to regulate AI systems, impose information duties, and ban harmful uses. 

Although it is an EU law, the Act has global effects:

• It applies to providers and deployers whose products affect the EU market, even if based elsewhere.
• It introduces obligations for general‑purpose systems, transparency, impact assessments and documentation.
• Penalties for non‑compliance can be significant.

For Nigerian digital product developers and exporters, compliance with the EU AI Act is becoming more of a commercial necessity if they serve EU customers or integrate with platforms operating in Europe.

The Act’s phased compliance timeline and extraterritorial reach mean that businesses worldwide, including in Nigeria, must adjust governance and product development practices in the new year to avoid market limitations.

2. African Continental Free Trade Area (AfCFTA) Digital Trade Protocol

The AfCFTA Digital Trade Protocol is part of Africa’s trade pact and seeks common standards for digital trade, including:

• E‑commerce regulations
• Consumer protection
• Electronic transactions
• Interoperable standards for services

AfCFTA signatories like Nigeria have taken steps to implement these protocols, making the country a digital trade champion in Africa. 

This framework reduces conflict for cross‑border digital services within the continent, encouraging harmonised regulation and a larger integrated market.

3. WTO and Digital Trade Initiatives

The World Trade Organisation (WTO) and the World Bank are working on projects supporting digital trade uptake in Africa. The emphasis is on reducing limitations to data flows, enabling digital export services, and harmonising policies with international norms.

Nigeria’s engagement in these processes affects its trade policy and digital market regulations, as the country works to align with global trade expectations. 

4. Global Digital Governance Principles

Various multilateral initiatives, especially under the United Nations and G7/OECD forums, are producing guiding principles on digital rights, human‑centred governance, and ethical use of new technologies.

While these frameworks are not binding, they influence investor expectations, normative benchmarks for regulation, and bilateral cooperation agreements.

Sectoral Impacts: How Policies Affect Key Industries

Fintech and Payments

Fintech is one of the fastest‑growing sub‑sectors of the digital economy, helping drive revenue growth. Payment systems, digital banking, and e‑commerce platforms are directly affected by:

• Data protection laws
• Cross‑border data flow expectations
• Digital identity policy
• AfCFTA e‑commerce frameworks

Nigeria’s regulatory approach aims to strike a balance between innovation and consumer protection.

Artificial Intelligence Beyond Compliance

AI is a strategic focus of both domestic and global policy:

• Nigerian policy levers include evolving digital regulation under the National Digital Economy and E‑Governance Bill.
• EU AI Act compliance affects products and services destined for Europe.
• Global best practices influence national frameworks and industry standards.

AI governance in 2026 will be more about risk oversight, accountability and interoperability.

Digital Infrastructure and Public Services

Digital public infrastructure such as identity systems, interoperable platforms and reliable broadband are central to policy execution.

Broadband expansion, DPI rollout, and regulatory certainty are critical for long‑term digital inclusion and competitiveness.

Policy Synergies, Gaps and Opportunities

While Nigeria has a growing policy toolkit, there are still challenges:

• Digital Divide: Broadband and internet access is still uneven, especially in rural areas. 
• Regulatory Coordination: Overlapping mandates between regulators can slow implementation.
• Global Compliance: Adhering to global norms (e.g., the EU AI Act) requires capacity building and investment in governance systems.

The opportunities are quite obvious:

• Alignment with AfCFTA positions Nigeria at the heart of African digital trade.
• Global frameworks bring a chance to signal regulatory maturity to investors.
• Domestic laws now provide clearer rules for data protection and AI.

In 2026, Nigeria’s digital economy has matured from a nascent sector to a major growth engine, underpinned by solid policy frameworks, energetic private innovation, and active engagement with global regulatory regimes.

In 2026, the digital economy policies in the sector will involve implementation, compliance, infrastructure expansion and capacity development. 

And yes, the foundations are now in place for Nigeria to benefit from its internal digital market, and also compete globally, provided that policymakers, businesses and citizens work in concert to close gaps, adopt standards, and sustain digital growth.

Located in the Alaro City corridor, Itana aims to become Africa’s first fully digital economic zone.

I believe this project brings one of the clearest windows into how Nigeria might re-imagine its economic model for the next decade. 

But for real, will it become a measurable impact? This piece examines how Itana works, why it’s important, what stands in its way, and what it means for investors, policymakers and Nigeria’s broader tech ecosystem.

Nigeria’s Tech & Investment Space

Nigeria is home to one of Africa’s largest technology markets. Its fintech sector in particular has produced global-recognised firms and attracts a disproportionate share of Africa-bound venture capital.

But the country still faces structural limitations including power outages, foreign-exchange instability, regulatory uncertainty and infrastructure gaps. 

In the free-zone space, Nigeria already has numerous industrial‐ or manufacturing-oriented zones under the Nigeria Export Processing Zones Authority (NEPZA) framework, more than 44 zones licensed under its regulations as of 2022. 

The typical free-zone model in Nigeria has been rooted in export manufacturing, not digital services. This leaves a gap, even with software, remote work, digital trade and services having the upper hand in the country, Nigeria still risks being left behind unless it adapts.

What Itana Is – Vision, Model, Mechanics

Itana has been built as the first digital free zone in Nigeria, and arguably in Africa. It uses Nigeria’s existing free-zone laws, rather than waiting for entirely new legislation, to launch a business jurisdiction tailored to digital, tech and services companies. 

Key features include:

• A 72,000 m² initial district in Alaro City, Lagos State’s Lekki Free Zone corridor, with mixed-use physical infrastructure: campus, co-living, outdoor work areas, biking trails, reliable power, fibre-optic internet, piped gas and clean water. 
• Incorporation and operations entirely digital: a business can be registered remotely (from Nairobi, London or Yaba) with a fee of $2,000 initial and $1,150 annual renewal, which covers business address, document handling and collaborative space access.
• Regulatory and operational incentives: tax advantages for eligible businesses, ability to operate in foreign currencies (USD, GBP, EUR, etc.), no expatriate quotas for work/residency in the zone, full foreign ownership permitted.
• Strong institutional backing: a partnership with the Africa Finance Corporation (AFC) that committed $100 million to phase one of the development. 
• Government engagement: in mid-2025, a memorandum of understanding (MOU) with the Federal Ministry of Industry, Trade & Investment pledged to support Itana’s mission to create 100,000 high-value jobs over five years.
  In short: Itana cannot just be described as a piece of land, but a package of infrastructure + regulation + ecosystem for digital/tech services. I view it as a kind of jurisdictional innovation experiment: can Nigeria create a “digital enclave” that is globally competitive?

Why It’s Important: Opportunity & Value Proposition

For global digital businesses, Itana provides a great value proposition: a gateway into Africa with streamlined incorporation, tax/operational incentives, and access to Nigeria’s large market (and by extension, continental reach). 

In other words, less friction to set up and scale from Nigeria. For Nigeria and Africa, Itana offers three major benefits:

• FDI attraction & talent retention – In offering a globally competitive jurisdiction, it may pull in foreign capital and keep diaspora talent or local entrepreneurs from exiting.
• Leap-frogging infrastructure/regulation – Rather than upgrading every regulatory detail nationwide, Nigeria can pilot a high-standards zone. If successful, the model may diffuse.
• Pan-African hub leverage – With the African Continental Free Trade Area (AfCFTA), and rising digital services export potential, Nigeria could become a base for cross-border digital services. Analysts note that the shift from manufacturing to services is already overdue in Africa. 

From a strategic viewpoint: if Nigeria wants to pivot from being resource- and manufacturing-centric to services/digital-first, this project is indispensable.

The Risks, Limitations & Questions

No innovation of this scale is free from challenge. I flag several key issues:

• Governance and institutional risk – Even if Itana has its own brand of regulatory ease, it still sits within the bigger Nigerian context: currency risk, political risk, legal enforcement uncertainties. For a global firm, the question is whether the zone’s insulation is real.
• Equity and local integration – Will Itana become an isolated “digital enclave” benefiting only a few, without broad spill-over into the local economy? Are local businesses, workers and talent benefiting? If not, the model may aggravate inequalities.
• Infrastructure delivery – Promises of 24/7 power, dual fibre-optics, piped gas hinge on execution. If the physical layer falters, then the “digital zone” becomes less credible.
• Scalability and replicability – Can the model scale beyond Lagos, and can the regulatory/incentive model survive as more firms come in? There is the risk of rent-seeking, of incentives being watered down, or of the zone attracting “low-value” service firms rather than high-impact innovators.
• External competition and global positioning – Other African countries may seek to offer similar zones. Nigeria must maintain its competitive edge on cost, regulation, talent and infrastructure. If not, Itana may lose out.
• Capital repatriation/FX risk – One of the underlying advantages promised is multi-currency operations and capital movement. But Nigeria’s foreign-exchange regime is still complex, which could undermine this promise.

Implications for Policy, Investors & Ecosystem

For Government and Regulators:

• Must treat Itana not just as a real-estate or tech project but as a regulatory laboratory: immigration, taxation, labour laws, data protection, foreign ownership must align and be stable.
• Should think about integration: how to ensure spill-overs into the wider Nigerian economy, and that the zone doesn’t remain an island.
• Must monitor and report key metrics: jobs created, foreign capital inflow, exports of digital services, and local talent retention.

For Investors & Startups:

• Should assess jurisdictional risk carefully: what is the legal anchor of Itana’s incentives? Are they protected?
• Look at ecosystem strength: beyond infrastructure, what is the talent pool, what are the anchor companies, what’s the exit environment?
• Be aware of cost-benefit: Are the incentives meaningful compared to operating locally or in other jurisdictions?

For the Tech & Talent Ecosystem:

• Nigerian startups should view Itana as potential infrastructure, but not accept it as a replacement for building local capacity and networks.
• Universities, incubators and talent pipelines must feed into this model; otherwise, the zone may import talent rather than develop it locally.
• Digital services export must be pushed: the opportunity is not just in doing business in Nigeria, but serving global clients from Nigeria/Africa.

Comparative Models & Lessons from Abroad

Let’s briefly compare:

• Dubai Internet City (DIFC) – Offers streamlined regulation, physical infrastructure, regional hub status; success was aided by global connectivity and elite infrastructure.
• e‑Estonia – A micro-state digital-first model with e-residency, global incorporation, but benefiting from high institutional trust and digital culture.
• Delaware (USA) – Legal/regulatory jurisdiction favourable to incorporation, low tax burden, strong rule of law. 

The context matters hugely. Singapore, Dubai succeeded in part because they had stable institutions, strong enforcement, legal clarity. Nigeria doesn’t start from that level entirely, so the risk of “free zone in name only” is real. The success of Itana will depend heavily on execution, transparency, and legitimacy.

Roadmap & What to Watch

Key milestones and indicators:

• Completion of the physical campus: the 72,000 m² first district must be built and operational with promised infrastructure (power, connectivity) as of phase one. 
• Number of companies incorporated in Itana: especially foreign/foreign-founded service firms, and the volume of business they conduct from the zone. For example, “more than 70% of companies within Itana’s zone are diaspora-owned or foreign startups.” 
• Job creation outcome: the government-Itana MOU targets 100,000 high-value jobs over five years.
• Export of digital services: growth in services sold from Nigeria/Africa to global markets mediated via the zone.
• Spill-over metrics: talent retention, local start-ups using the infrastructure, integration with local industry, and whether tax incentives and regulatory clarity persist over time.
• Potential derailers: delayed infrastructure, policy reversals, changes in foreign-exchange regime, corruption or governance issues. 

If I were writing this article six months later, I’d look to these indicators to judge whether Itana is just a promising pilot or truly a transformational model for digital economies in Africa.

Itana has come at a sensitive moment for Nigeria and for Africa’s digital economy. It offers a path where regulatory limitations, infrastructure gaps and global competition are tackled through a purpose-built digital free zone. 

The opportunity is real, for foreign firms, for Nigerian talent, and for a continent seeking to leap ahead in services and tech rather than being stuck in resource-or manufacturing-led models.

But the goal will only be realised if execution matches ambition. I remain cautiously optimistic. If Itana successfully delivers on infrastructure, regulation, talent and integration, it could become a gateway for Africa’s sustainable digital growth. 

If it fails, it could become another isolated enclave, admired but limited in impact

Take this for a reality check: the government’s BRIDGE project (Building Resilient Digital Infrastructure for Growth) is pushing to lay 90,000 km of fibre optic backbone across the country. That, together with private investment and a $500 million World Bank loan, should expand Nigeria’s main fibre network from ~35,000 km to beyond 125,000 km, with a goal of covering 70 % of the population.

But then, broadband penetration in July 2025 sat at just 48.01 % (down slightly from earlier months). The National Broadband Plan (2020–2025) targets 70% by December 2025, meaning Nigeria is more than 21% points short with only months left. 

The Shift from Oil to Infrastructure

Oil once filled Nigeria’s coffers. Today, as global demand changes and instability returns, that model is brittle. Fibre, once laid, becomes an infrastructure asset. It supports banks, digital health systems, education platforms, e-commerce, government services. And it compounds value with each new user and service.

Economic studies reveal a 10% increase in fibre or broadband penetration usually corresponds with a 2% rise in GDP growth. The logic is simple, more connectivity means greater productivity, more innovation, and wider access to markets.

That growth is already visible in Nigeria’s digital economy. From negligible contributions in the 1990s, tech, telecoms, fintech, and digital services now approach 20% of GDP in 2025. The expansion of fibre is the silent engine behind most of that.

Backbone, Satellites, and Sovereignty

If you control pipes, you control flows. If you control flows, you control power.

Nigeria has long held satellite ambitions, NIGCOMSAT is one. But too often, the cost and complexity have sabotaged their promise. Yet as cloud systems, AI, and cross-continental data transfer become central to all industries, the question of who owns the nodes — fibre and orbital — becomes a question of national sovereignty.

Reliance on foreign satellite services or international data transit is a vulnerability. If your connectivity is built on someone else’s pipes, you lose control of latency, security, and data jurisdiction. That’s why local fibre networks paired with satellite infrastructure must become strategic foundations, not experimental projects.

5G, Edge, and the Industrial Leap

5G is not a faster YouTube. It’s real-time control of machines, sensors, autonomous systems, smart grids. Without pervasive, low-latency connectivity, Nigeria will import the technologies it should build.

Some rollout is happening, but the progress is spotty and concentrated in large cities. Yet high costs and regulatory bottlenecks are slowing adoption across much of the country.

To make things worse, large metropolitan loops, regional fibre rings, and edge data centres are often ignored in favour of centre-to-centre connections. But these are precisely the last-mile systems that deliver fast, secure services to real users.

The Local ISPs: Silent Nation Builders

When we talk big projects, we forget the real heroes: local ISPs and fibre operators who extend networks into underserved towns and rural areas. They stitch Nigeria’s digital fabric from one town to another.

These firms build metropolitan networks, regional extensions, and even manage edge data centres. Without them, the digital economy is just a Lagos-Abuja bubble, the rest of the country is excluded.

Sadly, many of them operate under limitations, including unreliable power, high Right-of-Way (RoW) fees, and inconsistent state regulation. Some states still charge operators heavily to cross roads or dig beneath streets. 

If those ISPs collapse, the fibre backbone, no matter how long, means very little to people outside the map’s bright spots.

Infrastructure + Strategy: Supporting Tech Ambitions

At 65, Nigeria is already a recognised hub in Africa’s tech sector. In 2024, the country ranked second among African nations for the highest number of AI firms. That growth is promising, but without dependable infrastructure it stalls.

Nigeria’s National AI Strategy aims to build ethical, inclusive, and practical AI deployment. But strategy without connectivity is hollow, you cannot deploy digital systems that demand low latency, high bandwidth, and security on shaky networks. 

That mismatch is why the fibre push must align with policy, regulation, and investment in local ecosystems.

The Challenge of Meeting 70 %

While the goal is commendable, the odds are steep. Nigeria must grow from ~48% penetration to 70% in months. The fiber backbone is being rolled, but adoption must follow.

States must cooperate. RoW charges should be slashed or waived. Local governments must allow fast deployment without bureaucratic delay. Private sector investment must be opened. The InfraCos model, licensing infrastructure companies to build metro and intercity fibre, is already in play.

But the clock is against the nation. If Nigeria misses the target at 65, the gap between promise and reality will deepen.

True Independence: Measured in Access

The day Nigeria’s citizens view broadband as essential as water or power will be the real independence anniversary.

Oil defined the last 65 years in Nigeria. Fibre will define what comes next.

If Nigeria wants sustainability, resilience, economic sovereignty, it must finish laying and activating that fibre network. It must empower local ISPs. It must own its data routes above and below earth. Because the future doesn’t run on fuel. It runs on fibre.

However, in the midst of this booming digital tide, the country’s tech sector is still challenged with infrastructure gaps and the perennial search for investment, an irony not lost on participants at the inaugural GITEX NIGERIA.

Held from September 1 to 4, 2025 across Abuja and Lagos, GITEX NIGERIA brought together global tech giants, startups, and investors from 78 countries under the patronage of President Bola Ahmed Tinubu. 

Organised by KAOUN International and backed by the Federal Ministry of Communications, Innovation and Digital Economy and NITDA, the event was pitched as a platform for Nigeria to assert itself as Africa’s digital hub.

“In three short days, GITEX NIGERIA has already had a meaningful impact on our nation, from startups seeking funds and exposure with global investors to international organisations discovering the vast growth opportunities within our digital economy,” Olatunbosun Alake, commissioner for Innovation, Science & Technology, Lagos State, stated.

“This annual event will continue to grow, have a long-term contribution to Nigerian digitalisation, and show the world the power of international collaboration.”

Abdelaziz Saidu, country leader at Cisco Nigeria & Ghana, said “The crowd has been overwhelming, not just in size but in the quality of people coming to our stand, including the Lagos State Governor and the Minister, who were impressed with our AI and cyber security showcases.”

“From day one we’ve generated strong leads, some already converting into opportunities, and engaged with organisations like the African Union. The brand reputation of GITEX has pulled in the right crowd locally, regionally and internationally, making this inaugural edition truly impactful.”

The event ran on dual platforms, the Tech Expo & Future Economy Conference at the Eko Hotel Convention Centre, and the Startup Festival at the Landmark Centre. These hubs provided startups, investors, and corporates a chance to forge partnerships, explore Nigeria’s digital market, and pitch ideas to decision-makers. 

International tech giants such as IBM, Meta, Microsoft, NVIDIA, AWS, and Kaspersky showcased innovations ranging from AI solutions to cybersecurity frameworks, emphasising the strategic relevance of the Nigerian market.

The surge of Nigeria’s digital economy has been largely powered by the Information & Communications sector, contributing 10.59% of GDP, and the Finance Institutions sector, adding 3.60%. With projections indicating the ICT sector could account for up to 21% of GDP by 2027, Nigeria’s goal to become Africa’s leading digital hub is a roadmap, not just a talking point.

GITEX NIGERIA provided more visibility for West Africa. Its investor programme facilitated cross-border collaborations, bringing in deals and partnerships that could boost Nigeria’s digital growth.

For a country where digital access still battles infrastructural bottlenecks, the event stressed both the promise and the challenge: Nigeria is ready to lead, but the path is complex and demands sustained investment and governance support.

The target, he said, is within reach through the Federal Government’s 90,000-kilometre fibre optic rollout and the world’s largest coordinated digital skills programme, both designed to enable expansion of the sector, among other initiatives.

Addressing innovators, investors, policymakers, and global partners, Tijani framed Lagos as Africa’s innovation epicentre, noting the city attracts about 2,000 new residents daily, hosts the continent’s largest number of tech hubs, and has birthed at least six unicorns. 

Beyond technology, he highlighted Nigeria’s $15 billion creative economy, powered by Nollywood and Afrobeats, as proof of the country’s unique fusion of culture and innovation shaping global markets.

“The digital economy is not just about apps and platforms. It is about efficiency and productivity that transform agriculture, education, manufacturing, and governance,” Tijani said.

At GITEX NIGERIA, the minister outlined ongoing initiatives, including the Project Bridge fibre pipeline to connect every Nigerian state, local government, and ward, and the 3MTT programme, which is preparing young Nigerians for global jobs. 

He also confirmed a new round of funding for 75 academic research projects, to be announced on 1 October, alongside efforts such as the AI Collective and a forthcoming National Digital Economy and E-Governance Bill designed to build trust, security, and accountability.

Tijani called on startups, corporates, academia, the diaspora, and international partners to boost the transformation. “Government investment builds the foundation, but the opportunity and responsibility lie with all of us,” he said.

“Nigeria is not only keeping pace with the digital future, we are shaping it.”

He stated that “Lagos is the only place where a Hausa boy can dream in his mother tongue, code in Java, pitch in Yoruba, and be understood in English.”

The Governor made the statement on Tuesday while addressing global technology leaders, investors, and policymakers at the opening of GITEX NIGERIA 2025 in Lagos, the first time the global technology showpiece is being hosted in the city.

Sanwo-Olu said Lagos’ strength lies not only in its infrastructure but in its people, a melting pot of cultures that has birthed some of Africa’s most innovative startups. 

He revealed that more than 70% of all African unicorns trace their roots back to Lagos, stressing the state’s role as the continent’s innovation hub.

“Lagos is not just a city for today; it is Africa’s innovation nerve centre and a launchpad for Africa’s tomorrow,” the Governor said, adding that the state’s model of governance is increasingly digital, inclusive, and data-driven.

Between 2019 and 2024, Lagos attracted over $6 billion in foreign investment into its startup ecosystem, while submarine cables, hyperscale data centres, and fibre rollouts have positioned the city as Nigeria’s undisputed technology capital.

He highlighted practical innovations already changing daily life, such as the state’s Blue Line Rail, which has carried over five million passengers in its first two years of operation. 

The rail system is powered by the Cowry Card, a unified transport payment platform designed by young Nigerian engineers in their late 20s. The card now works seamlessly across trains, buses, taxis, and waterways, providing a model for locally built, scalable solutions.

Sanwo-Olu also pointed to the Lagos Science and Research Fund, which provides grants of between ₦50 million and ₦80 million to promising startups. Some of these companies, he noted, have already represented Lagos at GITEX exhibitions in Dubai and Marrakesh, proving that the city’s ideas can compete on the global stage.

The Governor invited participants to visit the Lagos Pavilion at the expo, which showcases the state’s advancements in edu-health, edu-tech, green energy, and smart mobility solutions. He said these initiatives demonstrate the government’s priority to solve real-world challenges through digital innovation while empowering young people to take the lead in building the city’s future.

Sanwo-Olu emphasised that GITEX NIGERIA 2025 was not just about technology but about forging alliances that would define Africa’s digital growth. “The future economy is not dictated by geography,” he said. “It must be co-created through partnerships across borders.”

The event drew international delegations from Dubai, Sweden, and beyond, as well as leading technology giants including Cisco, IBM, and MTN, alongside thousands of entrepreneurs and innovators presenting Africa’s next big ideas.

Trillions of naira move through these platforms every year, but are we as Nigerians truly the owners of this digital revolution, or are we simply feeding the machine?

The numbers look commendable, as mobile money operators, led by OPay, PalmPay, and others, processed over ₦71.5 trillion in 2024, up from ₦46.6 trillion the previous year. That’s a 53% surge in digital transactions in a single year. 

The total volume of transactions rose from 3 billion to nearly 4 billion, while Nigeria’s e-payment ecosystem crossed the mind-bending threshold of ₦1.07 quadrillion. Flutterwave, PalmPay, and OPay together are worth more than $6 billion. 

Moniepoint alone serves over 10 million customers, processing more than a billion transactions monthly. These platforms have become the arteries of Nigeria’s economy.

But look past the numbers and we see a worrisome picture. Most of these platforms are not Nigerian-owned, at least not in the full sense. They are backed, funded, and in many cases controlled by foreign investors who are ultimately the biggest beneficiaries of the profits. 

Nigerians generate the volume, carry the risks, and pay the fees, but the value extracted rarely stays here. Even Paystack, once a poster child of local innovation, now sits under Stripe, an American company.

The experience for everyday users is not always rosy either. High transfer fees eat into income, hidden charges appear without explanation, and platforms monetise data without ever asking for consent. In April 2024, the Central Bank of Nigeria (CBN) froze new customer onboarding for OPay, PalmPay, and Moniepoint over issues about compliance. 

Millions of users were instantly locked out, not because they did anything wrong, but because regulators and platforms were at war. That moment exposed a painful truth: Nigerians are passengers, not drivers, in this so-called digital economy.

The story is not limited to payments. Ride-hailing and e-commerce also have their part. Bolt is one of Nigeria’s leading transport apps, while Jumia has over four million active customers across West Africa, with Nigeria as its biggest market. 

But again, ownership sits elsewhere. These platforms dominate mobility and retail in Nigeria, yet the wealth created flows outward. Nigerians keep the ecosystem alive, the drivers, riders, buyers, and sellers, but who really profits at the end of the day?

So we circle back to the question: who owns Nigeria’s digital economy? Is it the millions of people who log in every day, building the data, trust, and traffic that keep these platforms alive? Or is it the platforms themselves, backed by capital far beyond Nigeria’s borders? 

On one hand, Nigerians are enjoying convenience, speed, and access like never before. On the other hand, we might be building wealth we’ll never truly share in, trapped in a cycle of dependency where platforms set the rules and people have little choice but to comply.

And that’s where the conversation must begin. Are we content to be consumers, or should we be demanding true participation and ownership? Should regulators create space for real local authorities, or will foreign-backed platforms continue to dictate the terms? 

Until those questions are answered, Nigeria’s digital economy will remain a paradox, built by Nigerians, but not necessarily for Nigerians.

Idris Olorunnimbe has been named Chairman of the NCC, while Dr Aminu Maida retains his position as Executive Vice Chairman and Chief Executive Officer, a role he was appointed to in October 2023 and confirmed by the Senate the following month. 

Olorunnimbe previously served on the board of the Lagos State Employment Trust Fund (LSETF), where he chaired the Stakeholder and Governance Committee and led youth employment and entrepreneurship initiatives.

The new NCC board members include Abraham Oshidami as Executive Commissioner, Technical Services; Rimini Makama as Executive Commissioner, Stakeholder Management; Hajia Maryam Bayi, former Director of Human Capital & Administration; Col Abdulwahab Lawal (Rtd); Senator Lekan Mustafa; Chris Okorie; and Princess Oforitsenere Emiko. The board secretary completes the line-up.

For the USPF, Dr Bosun Tijani, Minister of Communications, Innovation and Digital Economy, will serve as Chairman, with Olorunnimbe as Vice Chairman. 

Other members are Oshidami, Makama, Aliyu Edogi Aliyu (representing the Ministry of Communications, Innovation and Digital Economy), Joseph B. Faluyi (Ministry of Finance representative), Auwal Mohammed (Federal Ministry of Budget and National Planning representative), Uzoma Dozie, Peter Bankole, Abayomi Anthony Okanlawon, Gafar Oluwasegun Quadri, and the USPF Executive Secretary, Yomi Arowosafe.

The USPF, established by the Federal Government, is tasked with expanding access to information and communication technologies in rural, unserved, and underserved areas, aligning with Nigeria’s digital inclusion agenda.

Enabling Nigeria gain global competitiveness in the creative industry, CCTF is designed to leverage Artificial Intelligence (AI), Augmented and Virtual Reality (AR/VR), Web3, and blockchain across 49 creative sectors, including music, film, fashion, gaming, and digital content, as part of a plan to grow the creative economy beyond $25 billion by 2025.

NCAC Director-General, Obi Asika, called the launch a defining moment. “The launch of the CCTF is a groundbreaking initiative to place Nigeria at the forefront of the global stage, where culture meets code,” he said, adding that the council will provide creators with the platforms, tools, and market access needed to compete internationally.

In its initial phase, the CCTF will establish the National Creative-Tech Framework and Roadmap (2025–2030), aligning with the National AI Strategy, the Digital Economy Policy (2020–2030), and NCAC-led initiatives such as Discover Naija.

“The council will take memoranda from stakeholders and collaborate closely with NCAC sister agencies in the culture and tourism sector,” Asika said. He also stressed the importance of creating a digital environment where Nigerian art, stories, and music are “protected, monetised, and celebrated globally.”

To achieve this, the council will work with global partners including the British Council, UNESCO, Google, Meta, Netflix, the African Development Bank, the European Union, and the University for the Creative Arts UK. These partnerships are expected to drive investment, technical expertise, and international exposure for Nigerian creatives.

The inaugural council is chaired by Charles Emembolu of TechQuest and includes industry leaders such as photographer and director Misan Harriman; AI storytelling specialist Malik Afegbua; AR/VR expert Judith Okonkwo of Imisi 3D; intellectual property lawyer Sandra Oyewole; music executive Bizzle Oshikoya; and Kemi Awodein, Managing Director of Chapel Hill Denham.

With the CCTF, the NCAC is aiming to merge cultural heritage with cutting-edge technology, creating new jobs, drawing investment, and placing Nigeria’s creative sector at the centre of global innovation.

Now, imagine standing helpless, phone in hand, watching N250,000 trapped in a “processing” notification. No banker or support line, just a chatbot telling you to “check back later.” That’s not an unusual experience anymore, it’s the new normal.

In the rush to modernise, Nigeria’s financial system has quietly removed one important feature, which is human trust. And most people didn’t notice it happening.

There’s a broken reality behind fintech apps and profitability reports as banks and startups automate their systems to reduce costs and drive speed. Nigerians are left to wonder who to trust when machines control their money.

How We Got Here: Nigeria’s Push into Automated Finance

Cashless Nigeria didn’t happen by accident; it was policy-driven. Regulators encouraged digital adoption, banks launched fintech subsidiaries like GTCO’s Squad and Access Bank’s Hydrogen, telcos joined in with wallets and payment platforms, payment gateways, switching infrastructures, APIs—everything was digitised to serve one purpose, which is ‘move money faster’.

Yes, it worked. Digital payments exploded, billions now flow through apps and backend systems every day; Squad processed ₦27.4 trillion in 2024, Hydrogen handled nearly double that. Banks reduced costs, businesses scaled without hiring more staff, and customers were promised convenience.

But buried beneath these numbers, something more human was lost.

The Trade-off: When Efficiency Replaces Empathy

The problem isn’t just that banking went digital; it’s that it became impersonal.

Try resolving a failed transaction today; you’ll meet chatbots, automated emails, and self-service portals; usually while your funds remain stuck. 

Fintechs, in their quest for efficiency, have replaced human service teams with algorithms. Fraud detection is now automated, account freezes happen without warning, customer complaints disappear into systems optimised for “reduced human contact.”

For small traders in Lagos or shop owners in Kano, this could be inconveniencing, not progress.

What was once like a relationship with a bank has become a cold transaction with a machine.

Why Trust Still Matters in Nigeria’s Economy

In Nigeria, trust has always been more valuable than receipts. You paid because you trusted the person receiving your money. You kept your savings in a bank because you trusted the people working there, not the building or the app.

But digital systems don’t understand trust; they execute code, process transactions and when something breaks, there’s no human to appeal to. The very thing Nigerians valued in financial transactions—personal connection—has been stripped away.

The result is growing mistrust, digital fatigue, and even a quiet return to cash transactions in some sectors.

For businesses, the damage is invisible but real. Customers who feel betrayed by digital systems hesitate before transacting again. Small businesses lose sales, people hoard cash because it feels safer than trusting a machine that doesn’t speak back.

Who Profits from the Breakdown?

Ironically, as customers lose trust, fintechs grow richer. GTCO Squad posted ₦1.66 billion in Q1 2025 alone. Hydrogen’s profits jumped over 1,000% last year. These companies optimise back-end processes, automate dispute handling, and scale digital infrastructures, all while reducing human support staff.

This is by design, not accidental. Every automated response saves companies money; every unresolved complaint, every frozen account, is a small sacrifice made in favour of operational efficiency.

But on the other side of this success story stand millions of upset Nigerians, excluded, ignored, and becoming more sceptical of the digital economy.

Is There a Way Forward? Rebuilding Trust in a Digital Age

The digital economy doesn’t have to be heartless, but change won’t happen naturally. Fintechs need to rethink their obsession with automation:

• Blend human service with digital tools: Real people must return to customer care. Automation should support, not replace, human trust.
• Open the backend: Transparency about who controls transactions and what happens when errors occur can rebuild customer confidence.
• Design for people, not just profit: Platforms should work for rural traders, elderly customers, and digitally hesitant users, not just tech-savvy city dwellers.
• Regulators must step in: Consumer protection laws for fintechs should be enforced, not just announced.

The companies that solve these problems won’t only win customers, but will restore something more valuable: trust.

So, Are We Building an Economy That No Longer Understands Its People?

In Nigeria, digital payments were supposed to liberate people. Instead, they’ve left many feeling powerless. Trapped funds, unanswered complaints, faceless apps; this is exclusion in digital form.

Money, after all, is more than numbers on a screen; it’s a promise of security and in a country where trust usually matters more than documentation, an economy without human connection is one that has lost its way.

Machines are efficient. But people still need people.