Technology
Investing in Human Capital Development Spurs Technological Innovations – Deputy Speaker, Kalu.
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Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu, has said that increased human capital development has the potential to drive an increase in the growth rate of the Gross Domestic Product (GDP) of any economy through a rise in innovation and technological progress.
Kalu who stated this while delivering the keynote address at the SMFest, an annual global conference that teaches its audience how to leverage the power of technology and innovation to advance their businesses, noted that a more educated and skilled workforce can lead to higher productivity and better problem-solving.
He commended the convener, Ajah Excel and the entire SMFest team for their visionary work, noting that it has empowered thousands of young Nigerians to thrive in the digital age, transforming ideas into action and passion into purpose.
The Deputy Speaker said that the conference theme, “Africa Unlocked: Leading the Digital Revolution,” could not be more timely, as unlocking Africa is not just about technology; it is about people, young Africans turning challenges into opportunities and ideas into innovations.
Citing a Daba finance report that Nigeria still raised US$331.6 million, Kalu said that this is a demonstration that our creative spirit, ambition, and leadership in innovation remain unmatched on the continent.
He therefore called for investments not just in connectivity, but in creativity and capacity.
He assured his office readiness to support the next conference, adding that courage, collaboration, and vision are required to unlock Africa’s digital opportunities.
Kalu said, “I bring you warm greetings from the leadership of the 10th National Assembly. I am particularly proud that 50 of the 1,500 participants in this year’s bootcamp come from my own Bende Federal Constituency, a reminder that innovation can rise from every corner of this nation. It’s a privilege to stand before the brightest, boldest, and most creative generation Africa has ever produced. When I look across this hall, I see more than faces; I see possibility. I see the energy that will shape Africa’s future. Leadership is not about waiting for a position; it’s about taking responsibility. Long before I entered the House of Representatives, I began serving in small but meaningful ways: supporting the vulnerable, offering scholarships, and rebuilding hope through my foundation. That was how my journey in service truly began.
“The path from those humble beginnings to standing here today as Deputy Speaker of the House of Representatives has not been easy. It has been a journey of courage and learning, of daring to innovate where tradition resisted change, of keeping faith when the path was unclear, and of pushing forward when barriers stood tall. If there is one lesson I have learned, it is this: real leadership begins when you stop waiting for permission to make a difference. Great Nigerian youths, today, the tools in your hands are more powerful than anything my generation could have imagined. The GSMA’s Mobile Economy Report also notes that Africa now has over 489 million unique mobile subscribers, with mobile broadband networks covering nearly 86% the population, a figure that would have been unthinkable two decades ago.
“But let me be clear: tools alone don’t transform nations, people do. Technology without purpose can amplify noise, not impact. The same determination that drove us to build roads and schools must now drive you to build platforms, startups, and solutions that will redefine Africa’s future. According to research done in 2020 by the International Finance Corporation and Google, Africa’s Internet economy could contribute as much as $180 billion to the continent’s GDP by 2025, accounting for roughly 5% of total output. The United Nations Economic Commission for Africa has also highlighted this potential, describing the digital sector as one of the key engines of Africa’s future growth. If we invest not just in connectivity, but in creativity and capacity. That is the opportunity before us. Unlocking Africa: From Mindset to Marketplace. This year’s theme, “Africa Unlocked: Leading the Digital Revolution,” could not be more timely. Unlocking Africa is not just about technology; it is about people:young Africans turning challenges into opportunities and ideas into innovations.
“The future belongs to those who dare to reimagine what is possible. Yet, we must acknowledge the landscape before us, for it is through understanding reality that we unlock opportunity. Nigeria’s economic landscape is evolving, and there is much to celebrate. Daba Finance reports that Nigeria still raised US$331.6 million, demonstrating that our creative spirit, ambition, and leadership in innovation remain unmatched on the continent.
“We must humanise the digital revolution, ensuring that the boy in Akure, the girl in Benin, the trader in Aba, and the farmer in Sokoto are not left behind. Because if innovation is not inclusive, it becomes inequality. Africa’s future belongs to those who dare to dream, to act, and to build. You are the coders, the innovators, the creators, and the change makers. With courage, collaboration, and vision, you will unlock Africa. Go forth and build boldly. Show the world what African youth can achieve. The bridge to the future is waiting. You do not need perfect conditions to begin; you only need the courage to believe that your beginning matters. You can transform your future. And when you do, you will write a story that the world cannot ignore.”
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…Onboard next scholars
The Public-Private Partnership (PPP) system adopted by Ogun State Government has again produced certified digital technicians that would boost excellence in solving hardware challenges and configuring new equipment among others.
This was revealed at Ogun TechHub, Abeokuta during the convocation ceremony of the pilot associates of a free Cybersqauard Training Programme organised in partnership with Cybervilla.
Speaking at the ceremony, Chief Executive officer (CEO), Cybervilla, Ifeanyi Adirika, said partnering Ogun State government by giving free technical support to its teaming youths was a testament to sincere PPP initiative of Prince Dapo Abiodun which had made Cybervilla as one of its core investors in technology, called on more interested persons to onboard next session through: https://bit.ly/cybersqaudabeokutacohort2
The Cybervilla CEO further explained that the graduating beneficiaries of the first free training programme formed network of skilled, empowered and forward -thinking digital technicians aimed at redefining how, Troubleshooting, repairing digital devices, installing and configuring new equipment’s as well as providing technical supports services were delivered across Nigeria, bearing Ogun State identity .
In his goodwill message, Special adviser, ICT, Dayo Abiodun congratulated the lucky ones that made it to the graduating stage, saying the barriers of becoming tech engineers by some selected genius were broken through a series of training modules which could make anyone with vested interest at heart to learn and be gainfully employed.
He recalled that Ogun State government and Cybervilla had an agreement early this year to further strengthen youth development initiatives of Prince Dapo Abiodun, especially in the areas of building digital and vocational ecosystems that would empower young people as well as strengthen the digital economy.
In his goodwill message, Ogun State Head of Service (HoS), Mr. Kehinde Onasanya, congratulated youths in the State, especially the graduating CyberSquad for the rare opportunities made available since the establishment of Ogun TechHub by Governor Dapo Abiodun towards exposing everyone to the hidden wealth in technology and digital marketing.
Represented by the Director, Standard Regulations Planning and Research, Bureau of Information Technology (BIT), Olatundun Adekunte, admonished the graduating students to create awareness about the programme they have enjoyed, so that the rate of unemployment would reduce to the barest minimum.
Appreciating Ogun State government and Cybervilla for actualising their dreams of becoming a certified digital technicians, Timilehin Ajisebutu, on behalf of other beneficiaries, promised to use knowledge gained at the 3 months training programme effectively.
Technology
$50 Billion Crypto Transactions in Nigeria Raise Concerns Over Traditional Market Participation
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The Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, has revealed that Nigeria recorded over $50 billion in cryptocurrency transactions between July 2023 and June 2024.
This significant figure highlights the sophistication and risk tolerance of investors in the country’s crypto market.
However, Agama expressed concern over the low participation of Nigerians in the traditional capital market, with fewer than 4% of the country’s adult population actively investing.
He noted that this low participation rate is a major impediment to economic growth and capital formation.
The SEC boss also pointed out the disparity in market capitalisation between Nigeria and other countries, such as South Africa, Malaysia, and India.
He emphasised the need to deepen financial inclusion and rebuild investor confidence.
Agama identified six key challenges for the next phase of reforms, including low retail participation, market concentration, falling foreign inflows, underutilised pension assets, untapped diaspora capital, and a widening infrastructure financing gap.
The SEC DG called for a “reimagined SEC” that serves as both regulator and enabler of private-sector-driven growth, focusing on trust-building, transparency, and inclusion.
He ememphasisedhat vision without execution is inertia, and reform without measurement is aspiration without accountability.
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Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Okezie Kalu, PhD, CFR has pledged to partner with Bildup AI Learning to promote technology development and human capital growth in Nigeria.
Speaking when he visited the technology hub where several youths were undertaking different educational courses with the help of Artificial Intelligence (AI) in Enugu on Saturday in the company of the Majority Leader of the House, Professor Julius Ihonbvere and others on the sideline of the Retreat of the House Committee on Review, Kalu emphasized the importance of investing in the nation’s human capital, citing the potential for Nigerians to export services globally.
He highlighted the potential for Nigeria to export services, leveraging the country’s large population and growing talent pool.
Kalu assured that his office would partner with Bildup AI Learning to showcase its work and attract support from government agencies and other stakeholders, stressing that such a partnership aims to promote innovation, entrepreneurship, and technological advancement, ultimately contributing to the nation’s economic growth and development.
The Deputy Speaker commended Bildup AI Learning’s efforts in providing cutting-edge education and training in AI and other emerging technologies, saying it aligns with the government’s vision on human capital development.
He said: “We need to expand what you are doing and that is where government partnership comes in. We’re going to make a case for you in the Ministry of Education and the Ministry of Science and Technology. Also, there are so many NGOs that need to find a credible place to plug in their resources. We will partner with you. The Office of the Deputy Speaker will partner with you to showcase you. It’s nothing about politics. It’s about development. Our human capital development is key. It is one of our resources in this nation.
“All over the world, Nigerians are making impacts in various fields of life, especially with the power of our minds. So, anything that will help us export services, we will do. We are exporting goods now, not exporting as much service as we want to export, because we have 200 million and almost 250 million people. This will help us churn out more service providers that can sit in Nigeria and provide services to Oracle, Facebook, and Instagram, to all of them while you are sitting here, and then, the foreign exchange will come in because of the power of your mind, and that is how you can add value to the growth of this nation. Keep innovating and dreaming. Don’t get tired. The future is bright “.
Excited by the ingenuity of the youths and their interest in technology, Kalu encouraged them to keep aiming for the best to accelerate the development of the country.
“The nation believes in you, and that is why, in the renewing hope agenda of Mr President, the young ones occupy the centre stage of his innovations. Whenever you meet the President, he always says, I am interested in building a legacy that will outlive me for our children.
“You can stretch your hand with innovation. You can add a brick to the wall of nation-building with technology.
You know you are disruptors. We see you as disruptors. Disruptors are those who are not comfortable with tradition. Innovators are disruptors, and they disrupt tradition so that they can have true innovation, more productivity. You are not comfortable with the status quo”, he said.
The Deputy Speaker also mooted the idea of introducing AI learning into the social system as part of the constituency projects for constituents.
“Build up has simplified learning in the sense that it is accessible and it is cheap. Most of us who are honourable members, representatives of our communities, constituencies before the federal government, it’s about time we put it as part of our constituency projects, so a whole lot of students will come in and learn and build. Human capacity building is key. So, we are looking forward to supporting him so that it can grow, expand and be sustainable. And also, I’m sure that with time, Nigeria will hear about the buildup. We believe in him, and we believe in these young ones I’ve seen. Truly, they are the future of Nigeria, and their dedication and diligence towards this learning is amazing and very impressive”.
Earlier in his presentation, the Chief Executive Officer (CEO) of Bildup AI, Chibuike Aguene said that the innovation will give students equal access to quality education.
“What you’re witnessing here is the first of its kind. We built an indigenous AI application, the first of its kind all over Africa that can teach and interact with students, just as a human teacher would do. Some schools have already adopted it. Teachers are getting about 80% of their time back. Students are completing a tense programme that takes, typically, three months in about two weeks. There’s a student here. Maybe she will share her experience. She used it to prepare for her JAMB. She scored 97 in that Maths exam. She used to build up within a couple of weeks of preparation.
“So, what we’ve done here is to rethink. How do we bridge the gap in terms of giving everybody equal access to quality education and leveraging artificial intelligence? We’ve successfully implemented that. Recently, the federal government added tech skills as a compulsory course across secondary and primary schools. Fortunately, we’ve added all those courses as part of the platform for Bildup AI.
“I think the best way to explain this is that imagine every student having access to the world’s best teacher on a one-to-one ratio, because one of the issues in the educational system, not just in Nigeria, across Africa, is the teacher/student ratio, which is about one to fifty. But what we’ve done with technology now is to level it to one-to-one, so that every student can now have a personalised tutor. And let me point out that we are not saying we’ve replaced teachers. No, we’re not replacing teachers. Rather, we are enhancing what they are doing. So, somebody who is in the remote, maybe the village or anywhere, can now access the highest level of knowledge.
“The AI interacts the way that I’m speaking to you. They will choose even the AI tutorial that they want. We have different names that they can choose from. It speaks to them, in the accent and the way they will understand it. So, that’s what we have done, and a lot of them now are mastering tech skills, doing all their curricula.
“We have an AI career mentor that will guide you, interact with you, understand your interests, and then help you guide you through that path. So, it’s a revolutionary innovation, and it happened here in the Southeast. There’s nothing here that is outsourced. Everything here is built in-house. It’s a moment of pride for the entire region, and I dare say that it is a win-win for every innovator across Nigeria here.
“We are demonstrating the future of education that everybody has been talking about. So, we’ve moved beyond talk to actually show that this can work, and then Africa can lead, and not just Africa, that Southeast can provide the needed leadership. So, we have a marketplace where, once they go through this programme, the talent is showcased through that market space so that they can access global opportunities and, of course, local opportunities. So, people, different organisations, not just in Southeast, but across the globe can now access talent from the pool that we are churning out here”, Aguene explained.
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