At a time when Nigeria’s economy is grappling with global scrutiny over its declining growth rate, the 2025 Finance and Business Online Publishers (FiBOP) Conference held in Lagos today provided a platform for bold ideas and strategic dialogue. Bringing together financial institutions, business operators, and development partners, the event explored how technology and innovation could reignite the country’s economic momentum amid weakening international confidence.
The highlight of the conference was a compelling address by the Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, who reaffirmed that Nigeria’s digital infrastructure remains the cornerstone of its economic revival — despite recent downgrades by the International Monetary Fund (IMF) and the World Bank, which saw Nigeria fall off the list of Africa’s fastest-growing economies.
Represented by Mr. Babatunde Apeji, Dr. Maida described the nation’s digital backbone as both an economic engine and a national asset that must be secured, modernized, and expanded to sustain growth.
“Our digital infrastructure is the foundation upon which a modern, prosperous Nigeria will be built,” he said. “Even in the face of global economic headwinds, it is our capacity to protect and strengthen this infrastructure that will determine our recovery and resilience.”
Dr. Maida’s remarks came on the heels of economic data showing that countries like Côte d’Ivoire, Benin, Ethiopia, Rwanda, and Uganda have overtaken Nigeria in terms of growth trajectory. The IMF and World Bank attributed this shift to policy inconsistencies, infrastructure gaps, and inflationary pressures that continue to strain Africa’s largest economy.
But at FiBOP 2025, the NCC boss offered a counter-narrative — one that placed digital infrastructure protection and innovation at the center of Nigeria’s turnaround story. He argued that cybersecurity, broadband expansion, and regulatory synergy are not just ICT issues but economic imperatives capable of stimulating growth, attracting investment, and driving inclusion.
“We cannot talk about economic diversification or financial inclusion without acknowledging that all of it rests on a secure digital foundation,” he noted. “From fintech to e-governance, our systems must be resilient enough to withstand disruptions while delivering value to citizens.”
Dr. Maida urged banks, telecom operators, and technology partners to work collectively with regulators to institutionalize cybersecurity frameworks, promote data protection compliance, and invest in digital capacity-building. He said the NCC remains committed to policies that ensure that Nigeria’s communication infrastructure continues to drive innovation and contribute meaningfully to the $1 trillion economy vision of President Bola Ahmed Tinubu’s administration.
The EVC’s message resonated strongly with stakeholders at the FiBOP 2025 Conference, who agreed that the intersection of finance, technology, and digital policy will define the next phase of Nigeria’s economic development. Participants commended the NCC’s proactive leadership in advancing network security, broadband penetration, and regulatory transparency as key pillars of digital growth.
Reflecting on the discussions, industry observers noted that Nigeria’s economic transformation must now be digitally driven, as traditional growth levers like oil and manufacturing face structural and global challenges.
As the conference concluded, one takeaway stood clear: Nigeria’s path to sustainable economic revival lies not just in policy reform or foreign investment — but in protecting and expanding the digital systems that connect its economy to the world.
At the 2025 Finance and Business Online Publishers (FiBOP) Conference in Lagos, NCC EVC Dr. Aminu Maida (represented by Babatunde Apeji) emphasized that Nigeria’s digital infrastructure remains the key driver of economic revival, despite IMF and World Bank downgrades removing the country from Africa’s fastest-growing economies list.
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