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Business

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ICT

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Capital Market

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Insurance

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

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Mutual Benefits Begins 2026 with ₦5.9bn January Claims Settlement

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Business

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Insurance

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NITDA, Microsoft Partner on ICT Innovation, Adoption

L-R: Dr Isa Ali Ibrahim, Director-General/CEO, NITDA and Mr. Akin Banuso, General Manager, Microsoft after the signing of the MoU in Abuja.

The National Information Technology Development Agency (NITDA) and Microsoft Nigeria signed a Memorandum of Understanding to strengthen ICT Innovation and adoption in the country.

The partnership will see both NITDA and Microsoft collaborate in ICT development and innovation in Nigeria, particularly in the areas of cloud policies, data protection and privacy laws and data classification frameworks.

NITDA mandate is to create a framework for the planning, research, development, standardization, application, coordination, monitoring, evaluation and regulation of Information Technology practices in Nigeria. The Nigerian Government priorities include anti-corruption drive, security, private sector led economic growth and job creation, youth training and skills development. Technology will be at the heart of driving and building a digital economy which will bring these priorities to fruition.

Speaking on the collaboration, NITDA’s Director-General/CEO, Dr.Isa Ali Ibrahim FBCS, stated ‘We are delighted to collaborate with Microsoft; as regulators, our mandate isto create the right policies that foster innovation and help build a robust digital economy. Nigeria is a forward-thinking economy and one which is ready to compete in the 4th industrial revolution by having policies which drive growth and encourage investments. He further added ‘This is a positive move towards digitalization of government processes and provides a tremendous opportunity to scale up citizen’s access to services and concurrently improve the quality of services’

Also reiterating on the collaboration, General Manager Microsoft Nigeria, Akin Banuso said

‘‘We are excited to collaborate with NITDA. Microsoft is committed to providing technology you can trust; We have been actively involved in discussions with governments around the world to digitally transform are also frequently asked by other governments to identify best practices for moving to the cloud; we are honoured to be able to work with the Nigerian government on this framework.

Banuso added ‘This collaboration aims to foster detailed discussions of recent regulatory and policy development, including global best practices, to create cloud regulatory frameworks appropriate for driving innovation and improving how the public sector operates and delivers citizen services.”

NITDA and Microsoft will set up a joint working group for the collaboration.

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Topics

Retail Index: Nigeria Drops to 4th Position in Africa

The 2015 African Retail Development Index released recently revealed that Nigeria dropped from Number 2 position in Africa to Number 4, though it remains a market to consider on the continent. Indeed, the report reveals the most attractive retail markets on the continent and discusses the growth of the middle-class in Africa, increased consumerism, the spread of malls, land being taken up for development for retail purposes and Sub-Sahara’s young and connected middle class that is growing fast and still deciding on its favourite brands.

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OPEC Targets 30m Barrels Per Day Production

OPEC decided to keep its output target at 30 million barrels a day Friday but left it to members to restrain their overproduction, reflecting the cartel's inability to strictly enforce its own limits in attempts to control the world supply of crude. While OPEC accounts for over a third of the world's oil, its power to determine supply and demand has been steadily eroding as outsiders capture large shares of the market. It gave up imposing quotas on individual members four years ago after these were consistently ignored.

Non-Performing Loans: CBN Should Probe Banks for Shady Loans –LCCI

The Lagos Chamber of Commerce and Industry (LCCI) has called on the Central Bank of Nigeria (CBN) to consider probing the loan portfolios of banks to determine if the rising cases of non-performing loans or loan defaults are due to shady practices in loan approvals by the banks.

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