Ict/Telecom
DG Urges Open Source Software
The National Information Technology Development Agency (NITDA), says Nigerians need open source software if the the country must be a full participant in the software industry.
Prof. Cleopas Angaye, the Director-General of NITDA, made the observation at the opening ceremony of the African Conference on Free and Open Source Software (FOSS) and the Digital Commons (Idlilo-5) on Tuesday in Abuja.
The conference, with the theme “Open Source Solutions for Achieving the Millennium Development Goals’’, was organised by the Free Software and Open Foundation for Africa (FOSSFA), in collaboration with Open Source Foundation for Nigeria.
Angaye said the citizens needed to understand open software that allow people to develop their own software or search for basic programming short-code, as well as modify and redistribute it for national development.
“This is critical as we seek, as a nation, to be less dependent on oil, position our youth in the global economy and prove to the world that the Federal Republic of Nigeria is the great country of good people.
“In a country that has over 150 million, the potential of open source solution in achieving the Millennium Development Goals is huge, the manpower is present, and the infrastructure is beginning to be put in place.
“We are convinced that in the next few years, Nigeria will become a trail blazer in the production, use and promotion of open source software,’’ he said.
The Director-General stressed that NITDA was putting emphasis on the use of Information and Communications Technology (ICT) for education by implementing equipment and tools in teaching and learning process.
“It is our policy not only to use ICT in education, but also wealth creation, poverty eradication and global competitiveness. We seek to empower Nigerians. We work to encourage local production.
“We want to establish and develop IT infrastructure and maximise its use nationwide. We have decided to empower the youth with it skills and equip Nigerians to participate in the software and IT development,’’ Angaye added.
He added that the NITDA is also working on ICT programmes that would help the nation to reduce the rate of poverty and boos the development of the country.
The programmes according to him include the establishment of rural information technology centres, Innovation and Incubation Centres, Software development Centres and IT Parks across the federation.
Angaye urged all participants at the conference to use the golden opportunities offered at the conference to participate in the practical programming course on open source software.
He also encouraged organisers of the programme not to make the training only one-week event, but to schedule them on a regular basis across the federation.
Also speaking at the occasion, Mrs Nnenna Nwakanma, the FOSSFA Council’s Chair Person, said the conference was to build human capacity using ICT, saying human capacity building is the only way African continent could be developed.
Nwakanma also urged African countries to give legal backing to FOSSFA in order for the association to participate and contribute its quota to their development.
“We have challenges as an organisation, the first change we need to talk about as Africans is that many of our countries do not even have the framework for recognising an African organisation, we only recognise local NGOs.
“We are no longer in a nationalised world; we are in a globalised world. We need to begin to think about how African organisations can live legally and fulfil their mission,’’ she said
Mr Ibrahim Dikko, the Managing Director, Broadband Connectivity Nigeria (BCN), disclosed that the organisation was currently upgrading its optical fibre network to gigabyte passive optic network.
Dikko also disclosed that BCN was expanding and deploying new metropolitan and long distance networks across the country for easy access to its Internet services.
He, however, urged the government and individuals to create facilities and build upon the knowledge that would be provided at the Idlelo 5 conference in Nigeria.
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter