NESG urges govt, private sector to invest in digital infrastructure
The CEO of Nigerian Economic Summit Group (NESG) Tayo Aduloju has urged both government agencies and private firms to invest in digital infrastructures in a bid to tackle the prevalence threats of cyber insecurity. He stated this yesterday while delivering a keynote speech at the Chartered Institute of Directors (IOD) Nigeria 2025 biennial lecture in […]
The CEO of Nigerian Economic Summit Group (NESG) Tayo Aduloju has urged both government agencies and private firms to invest in digital infrastructures in a bid to tackle the prevalence threats of cyber insecurity.
He stated this yesterday while delivering a keynote speech at the Chartered Institute of Directors (IOD) Nigeria 2025 biennial lecture in honor of Alhaji Tijani Borodo, the outgoing President of the institute, saying that lack of investment has stunted the growth of digital infrastructure.
“So some notes for Nigeria is that there is still limited digital infrastructure to match our demand in Nigeria and what has not helped is, in the last few years, tariffs in the digital economy were pegged, especially in the telecom sector.
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“That meant that we stopped seeing that huge investment required to scale digital infrastructure. I think now that the government has unpegged it, right, I think there’s a 50% headwind given on tariffs,” he said.
Speaking on the theme: ‘Building digital resilience: governance, risk and compliance,’ he raised concerns over the prevailing threats of cyber crimes, citing a statistics that 58% of government corporations are under constant attack in the world by cyber threats.
“Well, by the way, this is a problem because the government is under attack in the world,” he said.
He stressed the need for the passage of the e-governance legislation that allows for the complete digitization of the whole of government.
“So it’s important. Number two is we still have a very high cyber demand in Nigeria. And the laws to catch, detect, prosecute, whilst they’re in place, implementing them are still riddled by some corruption risk issues.
“There are a couple of regulatory gaps in cyber security law regulations that need to be improved. And we are hoping that by working with the e-government deal, or the e-enterprise deal, we can resolve some of that. Of course, without them passing cybersecurity laws.
“So we are willing to work with them on improving the laws on one condition that it’s not at our additional expense,” he said.
Earlier, the institute president and chairman of the governing council, Tijani Borodo expressed the commitment to strengthen governance and work in building investment confidence and positive long-term and prosperous business.
“We have helped our directors in skills, knowledge, flexibility and by creating a perfect environment for business experience. We have contributed to the enhancement of good corporate governance in the US through meaningful conversations around corporate development solutions and opportunities.
“Our commitment to the concept of diagnostic cohesion has been very strong in the last few years and all these have typically impacted businesses across the nation,” he said.