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NNDC To Float New Telecom Firm

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The New Nigeria Development Company (NNDC) said it had concluded arrangement to float a new telecommunications company even as it posted a pre-tax profit of 609 per cent.

Chairman of the company, Prof. Halidu Abubakar gave the indication shortly after the company’s 44th Annual General Meeting (AGM) in Kaduna. “Arrangements have gone far in the merger between our Gamji Telelecommunications Company with our affiliate company, Backbone Connectivity Network (BCN) Nigeria,“Abubakar said.

He said the merger would produce “a bigger and more vibrant telecommunication company which will enable us to get better value as a result of synergy.“

The NNDC chairman said discussion was going on with the NNPC on the oil and gas exploration in the Northern region.

“We are making plans to collaborate with the NNPC in our continuous search for hydrocarbon potentials in the Northern Sedimentary basins.

“ The objective is to be part of all the activities of NNPC in the basins and this will reduce financial commitments of our company.“

He said that the company was also collaborating with states to acquire more mining sites to boost solid mineral development, in addition to exploring new areas including property development.

“ The company has identified new areas of strategic focus including boosting agricultural production, development of solid minerals, massive investment in property development, resuscitation of promising ailing industries and consultant services.“

Abubakar said that the company was scouting for more investable funds through collaboration with other development finance institutions, so as to play a greater role in the nation’s economic development.

The 23-member NNDC board had earlier approved the appropriation of N20 million to finance the Young professional Development Trust and the Learning Resources Centre Funds. The Chairman said that the company’s performance had improved in spite of the challenges posed by the deterioration in the Nigerian economy.

“Particularly the insecurity in the country in general and the 2011 post election crisis that occurred in some part of the country, which adversely affected business activities and international investment.“

Abubakar said the company had recorded a pre-tax profit of N69.25 million as against the preceding year’s profit of N9.76 million.

He said the figure represented an increase of N59.49 million or 609 per cent for the year ended March 31, 2012.

“The gross earnings of the company stood at N414.24 million during the year under review, representing an increase of N34.82 million or 9.18 per cent over the previous years’s figure of N379.42 million. “ Operating expenses for the period under review stood at N318.81 million against the preceding year’s figure of N348.26 million, indicating a decrease of N29.44 million or 8.45 per cent,“ the chairman added.

He said the nominal value of the company’s quoted investments stood at N239.26 million, while the market value stood at N6.801 billion.

The chairman commended the NNDC associate companies for recording encouraging result in spite of the difficult operating environment.

Abubakar commended shareholders for sustaining their trust and confidence in the company and pledged to do better in the years ahead.

Secretaries to Governments of the 19 Northern States participated in the NNDC’s 44th AGM.

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NCC Assures Safe, Accessible Digital Space

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The Nigerian Communications Commission (NCC) has assured Nigerians of accessible, resilient and safe digital space in the nation’s digital economy.
The Executive Commissioner, Stakeholders Management, NCC, Rimini Makama, gave the assurance at the NCC’s Digital Economy Sensitisation Forum, with the theme, “Leaving No One Behind: Digital Access, Equity and Empowerment” in Abuja.
Makama said that the commission remained committed to ensuring that Nigeria’s national telecommunications infrastructure remained resilient, accessible and secure.
“Digital empoScientists Advocate Shared Responsibility To Boost Food Securitywerment must be inclusive. Without inclusion and equity, the benefits of the digital economy will remain unevenly distributed.
“The commission, through its Universal Service Provision Fund (USPF) and other initiatives, is actively extending digital opportunities to the unserved, underserved, physically challenged and vulnerable groups through several impactful programmes,” he said.
The Publicity Expert for the Association of Telecommunications Companies of Nigeria (ATCON), Dr Nihinlola Fefa, said that the association had been an advocate of cyber security awareness and sensitisation over the years.
“ATCON has been a very key stakeholder in the ICT and telecom industry. We have always advocated for cybersecurity awareness and sensitisation.
“We have been giving our own input over the years. We interface with all the telecom companies. We do a lot of studies, and we also give our contributions in so many ways,” she said.
She commended the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, for deploying technology into rural communities.
According to her, though Nigeria is doing well in the area of cybersecurity, there is room for improvement.
“We are in a good position right now and we can do better from the government side,” she said.
Also speaking, the Head, IT and Cybersecurity, National Data Protection Commission (NDPC), Olorunisomo Isola, said that the commission had rolled out the necessary framework.

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Expert Tasks Nigerians On AI

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An economist, Dr Chinedu Amadi, has urged Nigerians to leverage the opportunities inherent in Artificial Intelligence (AI) to become competitive in the global business and social spaces.
Amadi, who is also the President, Organisation of Youth in International Trade and Commerce (OY-ITC), gave the urge during an interview with newsmen , in Abuja, Monday.
Amadi noted that humanity has always advanced by expanding its intelligence and capabilities through technology across different eras pointing out that AI now drives economic systems, social interactions and competitive advantage among nations globally.
“The world is entering a phase where humans and intelligent machines will share cognitive functions, so Nigeria should innovate or risk being sidelined in the emerging global digital order.
“The next frontier extends beyond AI tools to a deeper relationship between human consciousness and machine intelligence. This phase has the dawn of shared human machine cognition shaping future innovation and development worldwide,” he said.
Amadi noted that countries like the U.S., Japan and China already integrated AI into national planning, logistics and defence operations.
He warned that a deeper wave of collaboration between humans and intelligent systems is rapidly emerging
urging Nigeria and other African nations not to remain passive observers in this technological transition.
“Nigeria must innovate urgently or risk missing another major industrial revolution. Future global leadership will favour nations that create, regulate and ethically manage advanced technologies,” he added.
He said that the youthful population is viewed as a potential cognitive economy capable of driving digital creativity.
He advised policymakers and institutions to develop indigenous technologies, reflecting national priorities and moral values.
The president, however, noted that energy and agricultural sector can gain efficiency through predictive AI and advanced computation, adding that governance can also benefit from digital systems that strengthen transparency and curb corruption.
While noting that neural interfaces and quantum processing would soon merge human thought with computationAmadi said that the evolution demands ethical guidance, empathy and deeper human conscience in education system.
According to him, nations worldwide are racing to regulate AI and Nigeria also needs to define its strategic position.
“The future beyond AI will favour societies that balance innovation with wisdom and uphold human dignity,” he said.

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NIGCOMSAT Expands Nigeria’s Digital Broadcast Subsector By 35%

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The Nigerian Communications Satellite (NIGCOMSAT) Limited says the country’s digital broadcast subsector  has expanded by 35 per cent to 75 per cent utilisation in two years.
This, it said, represented a milestone in the country’s digital transformation drive.
The Managing Director, NIGCOMSAT, Mrs Jane Egerton-Idehen, made the remark  at a retreat with the theme: ‘Aligning for the Future: Innovation, Collaboration, and Sustainable Growth”, in Abuja, Monday.
According to her the theme reflects NIGCOMSAT’s commitment to driving Nigeria’s digital transformation and positioning itself as a global satellite industry leader.
She said one of the notable achievements in its broadcast segment was the Digital Switch Over (DSO) project, describing it as not just a technical milestone but also a national service.
“This growth is a testament to the organization’s improved service delivery and stronger engagement with partners and clients.
“The DSO project, a collaborative effort with the National Broadcasting Commission (NBC), is a key milestone in Nigeria’s digital transformation.
“NIGCOMSAT’s contribution to the project is enabling digital broadcasting penetration across the federation, cementing the organisation’s position at the centre of Nigeria’s digital transformation,” she said.
Egerton-Idehen said the achievements were expected to drive revenue growth, with target of three billion naira in annual revenue and eight billion naira in revenue within three years adding that the organisation’s expansion of broadband services and private sector partnership was key to achieving the goals.
“We cannot move boldly into the future without addressing the weight of the past. Our debt profile — both financial and operational — is a reality we must confront with strategy, discipline, and creativity.
“These are our headwinds. We acknowledge them openly because honesty is the first step toward transformation.,” Egerton-Idehen said.
She said in spite of challenges such as economic barriers and competition, the organisation remained optimistic about the future.
“We must out-innovate the market, deepen partnerships, and build a culture of solution-focused, profit-driven, and people-centered excellence.”
“The key initiatives include transitioning to software-defined satellites, expanding broadband services, and the NIGCOMSAT Accelerator for the Space Ecosystem.
“The organisation is prioritising public-private partnerships, branding, and communication, as well as investing in its people,” she said.
The Chief Executive Officer, Data Science Nigeria, Olubayo Adekanbi, said satellite-based economy could revolutionise key sectors such as agriculture, health, and education, creating new job opportunities and increasing productivity.
“By providing internet access to remote areas, satellite technology can bridge the digital divide and ensure no one is left behind.

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