AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

As part of efforts to align and implement the priority area of the present administration’s Renewed Hope Agenda of Accelerating Diversification through Industrialisation, Digitisation, Creative Arts, Manufacturing and Innovation, the Federal Ministry of Communications, Innovation and Digital Economy has organised a workshop that would co-create National Artificial Intelligence Strategy which will leverage Human-Centred Design (HCD) approach to formulate a strategy that focuses on the needs of not only Nigeria but the world in general.

The 4-day stakeholders’ strategy workshop with the theme “Developing the High-Level Strategy and Implementation Plan for a National AI Strategy in Nigeria”, had in attendance, key industry players from the private sector, public and global experts who brainstormed on the transformative potential of AI in reshaping societies worldwide.

In his opening remark, the Minister, Ministry of Communications, Innovation and Digital Economy, Dr ‘Bosun Tijani reminded participants of their collective responsibility in harnessing the power of AI for the betterment of humanity and urged them to embrace a future where connectivity and innovation serve as catalysts for national and global development.

While highlighting the profound impact of digital technology on human interactions and societal norms, he emphasized the need for inclusive participation in shaping the trajectory of AI development.
“Digital technologies are also quite transformational because of their scope.

Not only do they connect, but they allow us to transform nearly every aspect of our lives as humans,” he added.

The Minister emphasised that inclusive dialogue and cooperation are essential elements in shaping a future where AI serves the collective good.

He called for unity among the participants embrace conflicting views that could emanate from their brainstorming on AI development.

While challenging participants to rise above ideological differences and embrace a vision of AI that transcends national boundaries, Dr Tijani averred that “I’m challenging each one of us that will participate in this workshop not to be too focused on strategies in building AI that is limited to Nigeria or Africa but to the world.”

“Let us show leadership globally so that the world could be converging and not diverging when we talk AI because these set of technology tools and products that will be built from this workshop can be used across borders,” he noted.

In his remark, the Ministry’s Permanent Secretary, Engr. Faruk Yusuf Yabo stated that AI has the potential to transform the Nigeria’s economy in different sectors from enhancing healthcare to increasing productivity in agriculture and government operational efficiency as well as increasing educational development.

“As we gather here, we are not just proud of this strategy for Nigeria, we are laying the foundation for the future where AI is going to be an integral part of all aspects of Nigerians’ lives.”

He said, “It is essential that we develop a strategy that is not only theoretically sound but also practical and implementable within the general context, while taking into cognisance, our cultural values, traditions, norms and specific needs to increase our national security and sovereignty.”

Earlier, in his welcome address, the Director General, National Information Technology Development Agency, (NITDA) Kashifu Inuwa CCIE, emphasised the significance of leveraging AI not only as technological tool but as a catalyst for broader societal change.

The DG underscored the imperative of harnessing the transformative potential of AI for the betterment of Nigerian society with emphasis on not only developing a strategy for AI but also developing a strategy with AlI.

“Our vision for this strategy is clear. It is to harness the power of AI to derive values from it while harnessing its potential and avoiding its errors,” he noted.

While stating that technology is like a double-edged sword with its promises and pitfalls, Inuwa said that the uniqueness of the workshop is not only to discuss but to actively share ideas through cognitive processes.

“This approach is fundamental because it will help us to use our diverse insights and expertise in creating a strategy that will be inclusive as well as reflecting our national consensus,” he averred.

The NITDA DG asserted that the strategy would help in making significant advancements toward achieving Mr President’s economic transformation in priority areas of national security, boosting agriculture to achieve food security, increasing the nation’s GDP, unlocking energy and transportation potentials as well as improving the healthcare sector among many others.

“Our success depends on our ability to work together across government, academia, industry and civil society in bringing our unique perspectives to this strategy which will help us craft not just an innovative strategy but a practicable and implementable strategy that will lay a foundation for a prosperous nation for Nigerians,” he concluded.

The highlight of the workshop was the breakout sessions with industry and global experts sharing insights on contextualising AI strategy, setting directional beacons for Nigeria’s AI, developing a national vision and goal setting for AI in Nigeria.

At the end of the workshop, participants who were grouped into syndicates which include; AI Ethics and Social Impact, AI Infrastructure and Ecosystem in Talent, AI Talent and Workforce Development, AI Research and Innovation, AI Adoption and Sector Focus, AI Policy and Governance, AI International Collaboration and Engagement, AI Safety and Regulations gave presentations on various strategic initiatives, roadmap development and thematic visioning needed for the development of a robust AI Strategy document.

While giving his vote of thanks, Dr Tijani thanked NITDA, Nigerian Communications Commission, Galaxy Backbone, Nigeria Data Protection Commission, Data Science Nigeria, Microsoft, Google, Meta, the academia and a host of other public and private organisations for their invaluable contribution to the success of the workshop.

Expressing his excitement at the active engagement by participants at the workshop where in-depth ideas and experiences were shared, he said that he was confident that a robust National AI Strategy which Nigerians can derive value from will be developed for the benefit of the nation and the world.

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Nigerian Content Development and Monitoring Board (NCDMB) announced on Monday that it had received an interim dividend payment of N450 million out the
N1.5bn declared by the Waltersmith Refinery and Petrochemical Company Limited.

This payment represents NCDMB’s 30% share in the company for the year ended 2023.

The NCDMB had in July 2018 invested $10m to acquire 30% stake in the 5000 barrels per day (bpd) modular refinery project located at Ibigwe, Imo State, to support the Federal Government’s policy on modular refinery, stimulate investment and create employment opportunities.

Rising from a Board Meeting of Waltersmith Refinery and Petrochemical Company Limited, the Executive Secretary NCDMB, Engr. Felix Omotsola Ogbe confirmed that a total dividend of N4.5bn had been approved for the year 2023, pending final approval at the Annual General Meeting (AGM). The company reported a total profit of N23.6bn as profit after tax for the same year.
The Executive Secretary hinted that NCDMB expects to receive additional 30% of the outstanding N3bn dividend after the AGM is convened later this year.

He added that the receipt of this interim dividend payment is a testament to the strong performance and profitability of Waltersmith Refinery and Petrochemical Company Limited. “The NCDMB is proud to be a part of this success and looks forward to continued collaboration with the company in the future,” he stated.
He affirmed that the company is upscaling the refinery capacity from 5000 bpd to 10,000bpd and the expansion project is 44% completed and on time to be commissioned by early 2025.

NCDMB’s investment in the Waltersmith project was also geared to catalyse the industrialisation of the Nigerian oil and gas industry and its linkage sectors and deepen Nigerian Content in the oil and gas industry. It was the first third-party investment embarked by the Board, and it provided proof of concept and paved the way for other successful investments by the Board.

Two weeks ago, NCDMB received a cheque of $1 million from Nedogas Development Company Limited (NDCL), being part of the return on investment (ROI) on one of the Board’s strategic investments.

The cheque was presented by the Chairman of the company, Engr. Emeka Ene when he visited the Nigerian Content Tower in Yenagoa Bayelsa State, where he was received by the Executive Secretary, Engr. Felix Omatsola Ogbe and other members of the Board’s management.

Nedogas Development Company Limited (NDCL) is a joint venture company between Xenergi Limited and NCDMB Capacity Development Intervention Company and it culminated in the construction and commissioning of a 300 MMscfd Capacity Kwale Gas Gathering (KGG) and injection facility located in the Umusam Community, near Kwale in Delta State, Niger Delta, Nigeria.

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

President Bola Tinubu has approved the appointment of the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND). This was announced in a State House Press Release by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale on April 26, 2024.

According to the statement, ‘‘the President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds and of ensuring that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.’’

Jim Ovia, CFR, is the Founder and Chairman of Zenith Bank Plc, one of Africa’s largest banks with over $21.4 billion in assets and shareholders’ funds of over US$2.4 billion as at December 2023.

Zenith Bank is a global brand listed on the London Stock Exchange and the Nigerian Stock Exchange.

In addition to major operations in Nigeria and other West African countries, the Bank has sizeable operations in London and Dubai.

Jim Ovia is the Founder and Chancellor of James Hope University, Lekki, Lagos which was recently approved by the National Universities Commission (NUC) to offer postgraduate degrees in business courses.

James Hope University commenced activities in September 2023.

Through his philanthropy – the Jim Ovia Foundation – he has shown the importance he accords good education.

In support of the Nigerian youth, Jim Ovia Foundation offers scholarships to indigent students through the Mankind United to Support Total Education (MUSTE) initiative. Most of the beneficiaries of Jim Ovia Foundation scholarship are now accountants, business administrators, lawyers, engineers, doctors etc.
He is the author of “Africa Rise and Shine”, published by ForbesBooks.

The book which encapsulates Zenith Bank’s meteoric rise, details the secrets of success in doing business in Africa.

He is an alumnus of the Harvard Business School (OPM), University of Louisiana (MBA), and Southern University, Louisiana, (B.Sc. Business Administration). Jim Ovia is a member of the World Economic Forum (WEF) Community of Chairpersons, and a champion of the Forum’s EDISON Alliance.

In recognition of Jim Ovia’s contributions to the economic development of Nigeria, in 2022, the Federal Government of Nigeria honoured him with Commander of the Federal Republic, CFR. Also, in May 2022, Jim Ovia was conferred with the National Productivity Order of Merit (NPOM) Award by the Federal Government of Nigeria.

Earlier, he has been conferred with the national awards of Member of the Order of the Federal Republic, MFR, and Commander of the Order of the Niger, CON, in 2000 and 2011, respectively, as a testament to his visionary leadership and contributions to Nigeria’s financial services sector.

The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.

The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.