Schneider Electric, NVIDIA unveil new AI data center reference designs

Schneider Electric has announced two new reference designs developed in collaboration with NVIDIA, aimed at helping data center operators accelerate the deployment of AI-ready infrastructure while ensuring reliable power and advanced cooling.

The first release introduces what Schneider calls the industry’s first reference design integrating power management and liquid cooling controls, including Motivair by Schneider Electric technologies. The framework is built for interoperability with NVIDIA Mission Control, the company’s orchestration software for AI factory operations. By connecting operational technology (OT) and information technology (IT) systems, the design provides a blueprint for seamless management of complex AI infrastructure.

The second focuses on NVIDIA GB300 NVL72-based clusters, supporting rack densities of up to 142 kilowatts per rack. The co-engineered design provides a framework covering facility power, cooling, IT space, and lifecycle software for high-density AI data halls. Available in both ANSI and IEC standards, it is tailored to support the next-generation NVIDIA Blackwell Ultra architecture.

Tackling AI’s infrastructure demands

As artificial intelligence workloads grow more intensive, data centers face pressure to deliver massive compute power without compromising efficiency or uptime. Schneider Electric said its new reference designs address those challenges by combining tested blueprints with ‘plug-and-play’ interoperability across critical systems.

‘Schneider Electric is streamlining the process of designing, deploying, and operating advanced AI infrastructure with its new reference designs,’ said Jim Simonelli, Senior Vice President and Chief Technology Officer at Schneider Electric. ‘They are future-ready, scalable, and co-engineered with NVIDIA for real-world applications – enabling data center operators to keep pace with surging demand for AI.’

The controls reference design connects edge devices and facility systems across NVIDIA GB300 NVL72 and NVIDIA GB200 NVL72 deployments, using MQTT protocols to bridge OT and IT environments. According to Schneider, this allows operators to optimize uptime by monitoring power profiles, managing redundancy across cooling and power distribution, and feeding critical infrastructure data into digital twins and enterprise systems.

NVIDIA welcomed the move as part of a broader shift toward integrated data center design. ‘We are entering a new era of accelerated computing, where integrated intelligence across power, cooling and operations will redefine data center architectures,’ said Scott Wallace, Director of Data Center Engineering at NVIDIA. ‘With its latest controls reference design, Schneider Electric connects critical infrastructure data with NVIDIA Mission Control, delivering a rigorously validated blueprint that enables AI factory digital twins.’

Blueprint for AI Factories

The GB300 NVL72 reference design provides the foundation for AI factories powered by clusters of up to 1,152 GPUs. Using liquid-to-liquid coolant distribution units and high-temperature chillers, the design enables data centers to host multiple GB300 NVL72-based clusters while maintaining efficiency.

Schneider Electric also integrates its ETAP and EcoStruxure IT Design CFD models, enabling operators to simulate power and cooling scenarios before deployment. These digital twin capabilities are intended to reduce deployment risk and optimize performance for unique applications.

The latest announcement builds on nine previous AI reference designs Schneider has produced for scenarios ranging from prefabricated modules to retrofit data centers.

By providing proven, documented frameworks for power and cooling at AI scale, Schneider Electric and NVIDIA are seeking to ease one of the biggest bottlenecks facing data center operators: how to support the next wave of GPU-driven computing without sacrificing efficiency or resilience.

Sunbeth bets on technology to drive Africa’s logistics under AfCFTA

Sunbeth Shipping and Logistics, an affiliate of Sunbeth Global Concepts, is positioning technology at the heart of its operations as Africa pursues deeper trade integration under the African Continental Free Trade Area (AfCFTA).

The agro-commodities trader provides forwarding, customs clearance, haulage, and integrated supply chain solutions, and took part in the Intra-African Trade Fair (IATF2025) in Algiers.

Speaking at the event, Omowasola Akinsomisoye, managing director of the Lagos-based firm, said the company views technology as a critical platform for more efficient trade. ‘IATF has shown that innovation bridges the gap – technology makes logistics easier,’ he said.

‘By embracing smarter solutions, we can streamline movement across borders and support Africa’s growing role in global trade,’ Akinsomisoye added.

During the IATF2025, Sunbeth participated in the automotive trade show segment, where its team engaged with sector leaders on innovations in trucking and logistics. The company said the sessions revealed persistent barriers caused by restrictive border policies but also created opportunities to partner with customs authorities to build more transparent and cost-effective systems.

Akinsomisoye also said that AfCFTA’s objectives to reduce tariffs and harmonise trade policies will allow operators like Sunbeth to scale more effectively across the continent.

Sunbeth operates a modern fleet of more than 100 GPS-enabled trucks and has facilitated the export of 115,000 metric tons of agricultural produce while clearing over 70,000 metric tons of imports across Africa.

Founded in 2017 as part of Sunbeth Global Concepts, the company has expanded from a local haulage operator into a full-service logistics provider. Its offerings now include sea and air freight, cold chain logistics, and integrated supply chain solutions. By leveraging its GPS-enabled fleet and investing in technology-driven systems, Sunbeth aims to deliver secure, transparent and resilient cargo movement across Nigeria and West Africa.

According to a press briefing, ‘Sunbeth Shipping and Logistics’ vision is to establish itself as a global logistics leader, beginning with Africa.’

Sunbeth’s presence at IATF2025 was more than a marketing exercise; it was a signal of its ambition to shape how goods move across Africa. By showcasing its technology-driven model, the company positioned itself as a partner to regulators and businesses seeking to cut bottlenecks, lower costs, and unlock the promise of regional integration.

That ambition is timely. As AfCFTA edges closer to full implementation, the speed and efficiency of private logistics players will determine how quickly traders and communities feel the benefits of reduced tariffs and harmonised policies. Sunbeth is betting that Africa’s competitiveness will rest not just on moving commodities, but on moving them smarter, faster, and with greater transparency.

Beyond coverage: Future-proofing Nigeria’s telecoms industry

‘Looking ahead, the next phase goes beyond connectivity. Our goal is a robust, resilient, safe, and secure internet for all citizens, businesses, and government. That will require a revised National Telecommunications Policy. Work on this, led by the Federal Ministry of Communications, Innovation and Digital Economy, will begin in Q4 this year.’

What is the scope of Nigeria’s policy environment for the telecommunications sector?

This is a good place to start. Nigeria’s telecoms journey rests on a clear policy-to-law pipeline. It began with the National Telecommunications Policy (NTP) 2000, which paved the way for the Nigerian Communications Act (2003)-the law under which the NCC, as you know it, operates today. NTP 2000 liberalised the market and, with strong political will, transformed connectivity: we moved from about 500,000 fixed lines to almost 80 million active lines in under a decade. Competition drove innovation and affordability; even with recent tariff adjustments, the average price per minute remains below the approximately ?50 per minute level at the dawn of the GSM era. That policy shift also catalysed adjacent sectors like digital payments.

Now building on that foundation, several newer policies shape today’s landscape: the Revised National Policy for SIM Card Registration (2021), which we completed implementation of last year and is now just an ongoing business-as-usual process; the National Policy on 5G, which enabled the commercial launch of 5G services; and the Nigerian National Broadband Plan (2020-2025), which expires this year-which, by the way, we have already begun engaging our Ministry on for a third iteration. There is also the National Cybersecurity Policy (2021), which led to the establishment of the sectoral Cyber Incident Response Team (CSIRT) under the NCC, and in fact, we are now finalising a telecoms sector cybersecurity framework. We also have the National Child Online Protection Policy, which guides how we safeguard users online, and the National Policy for the Promotion of Indigenous Content in the Nigerian Telecommunications Sector (2021)-a pivotal, long-term agenda to deepen local participation across the value chain.

‘Over the next year, you will see us push hard on network reliability through tighter QoS standards across the entire value chain, including with co-location service providers, alongside CNII operationalisation and real accountability via public performance dashboards-so service quality is visible, comparable, and ultimately improves.’

So, where are we today in terms of progress with these policies?

I’m glad you are asking this. Nigerians may not realise, but a lot of progress has been made with policies in our sector. Most significantly, we have dismantled monopolies and built a competitive market over the past two and a half decades. The industry has built broadband networks, which have led to local digital ecosystems emerging, most notably digital payments and e-commerce. Internet consumption continues to grow exponentially-streaming, short-form video, virtual meetings, online learning, online shopping, and the list goes on. In that sense, the NTP 2000 has largely been delivered and, in many areas, exceeded what it originally envisaged.

On specific policies: NIN-SIM linkage, like I just said, is now business as usual. After several deadline shifts, we concluded its full implementation last year, ensuring all SIMs are linked to a valid and verifiable NIN. Implementation of the National Cybersecurity Policy 2021 is ongoing. Our NCC-CSIRT has been operational for a few years; following the President’s Executive Order on Critical National Information Infrastructure (CNII) last year, we have been working with ONSA on our sector’s operationalisation, and we will be issuing a sector-specific cybersecurity framework in Q4 2025. The Child Online Protection Policy (and broader online-safety work) is still at an early stage, having only been approved in February 2023 by the previous Federal Executive Council.

On indigenous content, it is too early to appraise. It needs long-term consistency and broader reforms to succeed. Realism and consistency are key: countries that now play across the entire telecoms stack got there through decades of steady policy and disciplined execution. It is a long-term play, and we are aligning the sector accordingly. As for the National Broadband Plan (2020-2025), now in its second iteration and expiring in a year’s time, there is a lot of work still to do. Some targets may not be met, and some are no longer relevant to today’s context. We have learnt the lessons, and the next five-year plan must build in agility so we can respond to a rapidly changing environment.

Looking ahead, the next phase goes beyond connectivity. Our goal is a robust, resilient, safe, and secure internet for all citizens, businesses, and government. That will require a revised National Telecommunications Policy. Work on this, led by the Federal Ministry of Communications, Innovation, and Digital Economy, will begin in Q4 this year.

To what extent was the operators’ business environment considered in the recent tariff hike, and what is the current situation?

First, some context. We are an economic regulator as set out in the Nigerian Communications Act (2003). Our tools are grounded in competition principles to create a market where both sides get value-this means that operators can earn fair returns, and consumers get high-quality, affordable services.

Generally, consumer prices rise with inflation, and we have recently seen steeper increases as the economy adjusts to necessary macroeconomic reforms. Transport, food, and other daily items have gone up-some by more than 100%-yet telecom consumer tariffs stayed largely flat for close to a decade, often without inflationary adjustments. Meanwhile, operators’ input costs rose sharply. Just consider the diesel to power generators that run roughly 40,000 sites nationwide and the imported radio equipment at these sites, paid for in foreign exchange. So what has happened is that over time, margins were eroded and the sector became less attractive for investment. CAPEX did not keep pace with demand growth; in fact, prior to our intervention, investments were dropping. This is a sector that must invest continuously to maintain quality, especially as data consumption grows. Some operators were borrowing to buy diesel! Effectively subsidising service. When there is no cost recovery and fair returns, investors simply take their money elsewhere; it’s not rocket science.

So we faced a dilemma: how do we restore investor confidence so the necessary investments can flow while ensuring consumers still enjoy affordable, high-quality connectivity? Doing nothing would have meant continued investment decline and worsening quality. The only realistic, lawful path consistent with economic regulation was to allow tariffs to move within cost-oriented bounds.

With hindsight, the NCC could have done more, earlier, to build resilience ahead of the government’s reforms: stronger infrastructure protection, more robust operator corporate governance, QoS regulations across the entire value chain, zero-tolerance for inter/intra-industry debt, and periodic tariff adjustments in line with inflation. This is why we did not rush to approve higher tariffs. We first addressed industry debts, began to tackle infrastructure vandalism, and cleaned up industry data. Ultimately, however, the long-term solution was to permit tariff adjustments within a cost-oriented framework, just as the law envisages.

And I will emphasise: the Nigerian Communications Act (2003) does not say the NCC or the federal government should set prices. Yes, the Act requires the NCC to approve tariffs, but always in the context of preventing anti-competitive conduct, not to fix prices in a deregulated market. Our role is to ensure operators do not collude to push prices up and that no player cross-subsidises to undercut rivals unfairly. We run regular cost studies to determine price floors and ceilings within which operators can compete.

Saying all of this, the good news is that we are now seeing investments return; already, we have verified commitments of over $1 billion by operators for this year alone to expand the networks, which is significantly more than what we have seen over the past two to three years in the sector.

You mentioned tighter supervision of service quality across the value chain. What has changed?

We have stepped up oversight beyond Mobile Network Operators (MNOs) to cover every layer, especially Co-Location Service Providers (CSPs), who are arguably the most critical operators in the service-delivery chain. Co-location service providers host MNOs/ISPs at outdoor sites and provide space, power, cooling, backhaul, and security on a non-discriminatory basis. They reduce deployment costs and time-to-market. In simple terms, if there is no power, there is no service, no matter how much equipment you deploy. The major players include IHS, ATC, Pan African Towers, and Eastcastle, which I am sure most Nigerians do not know about. All the MNOs except Glo use co-location services.

So to regulate Quality of Service (QoS) properly, we updated our primary QoS instrument last year. The previous version focused on MNO Key Performance Indicators (KPI) only. The update brings all licensed operators in the service chain, including co-location service providers, into scope with clear KPIs. We also moved from state-level averages to granular LGA-level measurement and revised penalties to reflect current economic realities. For co-location service providers, the key KPI is power availability. If you look at QoS data when diesel prices spiked, QoS dipped because some providers had to adjust refuelling cycles. You know site maintenance is cash-flow intensive-the industry consumes roughly 40 million litres of diesel monthly. Another critical KPI is Mean Time to Repair (MTTR) for faults like generator failure or fibre damage. We set timelines for how quickly we expect these repairs to happen, and we are already seeing improvements in power availability and MTTR. By the way, all this KPI data is published on the NCC website.

Infrastructure disruption remains a problem. How are you addressing it?

There are intentional disruptions like theft, vandalism, and access denial due to disputes and avoidable ones, like fibre cuts from roadworks, that better coordination could significantly reduce. People often do not realise the consequences: a vandalised site can knock multiple sites offline; a burnt manhole can disrupt services over a wide area.

Luckily, we now have the right framework to act. The President’s Executive Order on Critical National Information Infrastructure (CNII) last year designated 13 sectors, including telecoms, as CNII, making intentional damage to telecoms infrastructure a criminal offence and providing a platform to work more closely with security services. We are receiving very strong support from the National Security Adviser to operationalise CNII in our sector; whenever we discuss the topic, he shows so much passion and commitment.

So, how are we going about it? Our approach is multi-tiered. We have amended co-location guidelines to include minimum security checklists (human, physical, and technological). We are running a national awareness campaign in Pidgin, Yoruba, Hausa, Igbo, and English to explain the real-world impact of vandalism and access denial. And we are building collaboration frameworks with public works authorities to cut avoidable damage, especially to fibre.

Fibre typically follows road corridors connecting communities and avoiding complex private right-of-way negotiations, but poor coordination during road construction causes repeated cuts. Federal highways are under the Federal Ministry of Works; state roads are under state ministries. We are putting MoUs in place with the Federal Ministry and priority states (Abuja, Lagos, Kano, and Kaduna) to establish a shared digital platform. The platform will work like this: work agencies will upload project plans; NCC and fibre owners will have visibility; and affected operators will receive timely notifications to relocate or activate secondary routes. India has shared lessons from a similar model, and we are confident this will help. I have personally dealt with a case where a contractor on a federal road claimed they did not even know how to contact the affected operator-that is exactly the coordination gap we are closing.

We are also mediating disputes between service providers and landlords/communities/state agencies where possible; not everything needs to end up in court. And where dialogue fails, we will work with ONSA and relevant authorities, though we hope force remains the exception. People must understand: disrupting telecoms can mean a hospital loses access to critical information or someone in distress cannot call for help.

But let us wrap up on policy and the future. If the goal is affordable, high-speed data for every Nigerian citizen and enterprise, how do we get there? We need fibre-to-buildings-homes, schools, businesses, public institutions-connectivity. We already have about 30,000 km of fibre in Nigeria, but most of it is for connecting mobile base stations, because fibre is essential to achieve 4G/5G speeds. I am fortunate to have home fibre; I use close to 1 TB a month across work, video calls, and streaming, and it costs me less than half of what the same usage would cost on a mobile network. This is not unique to Nigeria; globally, fixed fibre is cheaper per GB than mobile, because fibre is the most cost-effective technology for high-speed data. It is largely passive infrastructure, cables, ducts, and poles, and consumes significantly less power compared to active radio gear. Yes, you have to dig and manage the right-of-way, but it is undeniably the way forward. As, after all, the name ‘mobile’ implies, it is designed for mobility, while most data consumption happens indoors.

This is where government policy has now caught up. The 90,000 km national fibre project being championed by the Honourable Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, can materially expand access to affordable, high-quality data connections. It will also support local industry; for example, Coleman in the South-West manufactures fibre-optic cables locally.

Could we have been further along? Possibly. About a decade ago, regional Infraco licences were awarded to build wholesale fibre networks. When I reviewed our files at NCC, the Infraco licensees had delivered less than 10,000 km. Meanwhile, the country already had 30,000-plus kilometres of backbone fibre linking major cities and several thousand kilometres of metro fibre. The 90,000 km initiative and other players that will build fibre networks will expand both backbone and metro networks.

But an important regulatory intervention by the NCC is also underway. We have launched a Wholesale Fibre Study, which is likely to open up existing backbone, and any built in the future, on comparable, transparent terms so that backbone owners and Internet Service Providers (ISPs) can interconnect more easily. This should be concluded by mid-2026. We believe this intervention will be key to building dense metro fibre networks nationwide. We are also looking at growing the number of smaller ISPs nationwide; today, they are mostly concentrated in Lagos and Abuja. We need more ISPs that will build metro networks and deliver last-mile services to homes, schools, businesses, and public institutions, thereby increasing choice and competition. Lastly, on this, we are also advocating for the states’ governments to waive Right of Way (RoW) charges to encourage the deployment of fibre, and so far in the past two years, five states have totally eliminated RoW charges, making it 11 states with zero RoW charges.

My last question: we’re seeing more NCC data in the public domain. Is this part of a broader strategy?

I am glad you noticed. Yes, it is a deliberate shift. The traditional ‘command-and-control’ model, where you write a rule and enforce it to the letter, has limits in a complex, fast-moving industry with over a thousand licensees. It can be rigid, costly, and ultimately slow innovation.

While we will continue to use ‘command-and-control’, over the past two years, we have begun to complement this with information disclosure and transparency, and we will gradually tilt more towards this. We are publishing accurate, timely, accessible information on industry performance, consumer satisfaction, network performance, and more, so the public, investors, and consumers can make informed decisions. Transparency fosters accountability, encourages voluntary compliance, and lets the market reward good behaviour and expose bad practices. Operators compete not just on price or coverage, but on ethics, quality, and governance.

How has this worked in practice?

In 2017, when we revised teledensity using an updated population estimate of approximately 190 million, the figure dropped by about 10 percent. It was not a ‘headline-friendly’ move, but it signalled data integrity.

When a major operator defaulted on interconnect charges, we approved partial disconnection and issued a public notice. The result: a drastic reduction in intra-industry debt.

After last year’s subscriber-database audit, we found significant discrepancies and took the bold step of publishing the true numbers. That strengthened public trust in our data.

Under our Tariff Simplification Guidelines, operators must publish a standard disclosure table for every tariff plan-so consumers can compare like-for-like across operators. Operators must now also notify customers of major outages and log them on our public Major Outage Reporting Portal.

In early Q4 this year, we will launch a Network Performance Map on our website, showing location-level performance using crowdsourced data. From Q4 as well, we’ll publish Quality of Experience (QoE) and network performance reports for MNOs and ISPs based on the same data.

We are also revamping industry statistics to add new metrics and deeper insights.

We have also released updated Corporate Governance Guidelines for the industry. Transparency is its guiding principle: it emphasises stronger leadership structures, board independence, ESG/CSR reporting, mid-year and annual compliance reports to be made public, and the appointment of a regulatory officer in every licensed company. Together, these measures strengthen transparency and accountability and help safeguard the sector’s long-term sustainability.

Final question: As we wrap up (yes, this is really the last one!), what should Nigerians – consumers, industry, and government – expect from the NCC over the next 12-24 months?

(Laughs.) I know you said the previous one was the final question, so think of this as the ‘bonus data’ at the end of the bundle.

Three things: reliability, affordability, and transparency.

Over the next year, you will see us push hard on network reliability through tighter QoS standards across the entire value chain, including with co-location service providers, alongside CNII operationalisation and real accountability via public performance dashboards-so service quality is visible, comparable, and ultimately improves. On affordability, our focus is on enabling sustainable cost recovery and faster fibre build-out; our wholesale fibre study, which is concluding by mid-2026, would unlock more fibre build and open backbone access on fair, comparable terms. That combination is how we hope to bring high-speed, high-quality data to more homes, schools, hospitals, MSMEs, and public institutions at a better value. And on transparency, we will keep publishing clear, timely data from outage notices to QoE maps, to consumer satisfaction reports, to operator compliance reports and tariff disclosures so consumers and investors can make informed decisions.

Premium power graduates first cohort to bridge Nigeria’s energy skills gap

Premium Power Solutions will graduate the first cohort of its free Technician Academy on Oct. 6 in Lagos, part of a private-sector effort to close Nigeria’s chronic shortage of skilled technicians, undermining its energy sector.

Nigeria loses an estimated $26 billion annually to unreliable electricity, according to the World Bank, while manufacturers report power as one of their top five constraints to growth.

Yet the shortage of certified technicians remains largely overlooked, with fewer than one for every 1,000 households connected to the grid, industry data shows.

The 12-month program by Lagos-based Premium Power offers practical training in electrical and mechanical technology, protective gear, professional toolkits, and preparation for the Federal Ministry of Labour’s trade test, all at no cost to participants. The first class also includes female trainees, a step toward improving gender diversity in a male-dominated industry.

Ejiroghene Udu, Premium Power’s founder and chief executive officer, said the initiative is meant to create a pipeline of skilled workers who can immediately enter the market.

‘Energy at PPS means more than electricity; it’s about unlocking potential and dignity for our youth. This academy is our pledge to close the skills gap and empower a new wave of talent, especially young women, to shape Africa’s energy future,’ Udu said.

‘For me, this journey is deeply personal. Every young person trained here represents a life transformed and a step closer to bridging the technical skills gap in our country. I am especially proud of the women who have taken bold steps to break barriers and thrive in a space that has not always been welcoming to them.’

Nigeria has one of the youngest populations in the world, with about 43 percent under 15 years old, and unemployment among young people is more than double the national average.

Industry leaders say technical training could help absorb some of this demographic pressure while boosting the country’s ability to expand grid power and off-grid renewables.

By producing certified technicians, Premium Power is betting that its graduates will raise employability and help strengthen capacity in a sector critical to Africa’s fourth biggest economy.

The company sees the academy as both a corporate responsibility project and a strategic investment in sustaining long-term growth.

NNPC, Dangote Refinery ink new two-year crude supply deal

The Nigerian National Petroleum Company (NNPC) Limited has signed a fresh two-year crude supply agreement with the Dangote Petroleum Refinery, ensuring steady feedstock to the 650,000-barrel-per-day plant in Lekki, Lagos.

The deal, sealed in August, is part of the Federal Government’s drive to prioritise crude deliveries to the privately owned refinery, particularly in naira, to support energy security and stabilise domestic fuel supply.

According to industry data, about 82 million barrels of crude have been allocated to Dangote Refinery between October 2024 and September 2025. Of this volume, 49.3 million barrels – or 60 percent – were supplied in naira under the crude-for-naira initiative.

The agreement follows recent tension after the refinery suspended naira-based petrol sales citing the depletion of its naira crude allocation. Sales later resumed following intervention by the Naira-for-Crude Technical Committee chairman.

Andy Odeh, NNPC’s Chief Corporate Communications Officer, confirmed that the state-owned company continues to allocate crude in naira to the refinery.

He explained that NNPC, Dangote Refinery, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) periodically reconcile the volume and value of crude delivered in naira.

‘The state-owned energy company and the refinery have negotiated and signed a new sales and purchase agreement that will run until 2027,’ Odeh said.

‘In line with the FGN Crude for Naira Initiative, NNPC Limited has continued to allocate crude to Dangote Refinery in naira for the sale of products in the domestic market.

‘On this basis, NNPC, DPRP and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) periodically reconcile the volume and cost of product supplied in naira commensurate with the crude delivered,’ Odeh explained.

He disclosed that NNPC allocated three naira crude cargoes in August, and five cargoes each for September and October 2025. While loading operations for August have been completed, September allocations are currently underway, with two vessels undergoing pre-loading formalities at terminals.

Odeh added that between October 2024 and October 2025, a total of 82 million barrels of crude had been allocated to Dangote Refinery, with 60 percent (49.3 million barrels) supplied in naira.

The new deal will run until 2027, ensuring continuity of supply following recent concerns when Dangote Refinery briefly suspended naira-based petrol sales citing exhaustion of its naira crude allocation. Sales later resumed after federal intervention.

Dangote’s media team has yet to respond to requests for further details on the arrangement.

Nigeria’s payment sector revenue to hit $4.7bn in 2029 – Report

Nigeria’s payments revenues are projected to surge from $1.3 billion in 2024 to $4.7 billion in 2029, according to Boston Consulting Group’s (BCG) newly released 23rd Global Payments Report.

The growth, driven largely by transaction-related revenues, positions Nigeria as a key engine in Africa’s fast-expanding payments sector.

The report titled ‘The Future Is (Anything but) Stable’ projects that Africa’s overall payments revenues will nearly double within the same period, rising from $9 billion in 2024 to $19 billion by 2029.

‘With a compound annual growth rate (CAGR) of about 10 percent, the continent is expanding almost three times faster than the global payments sector, which is expected to moderate to 4 percent growth over the next five years,’ it said.

BCG’s analysis shows that transaction revenues in Nigeria are set to grow at a CAGR of 23 percent, while non-transaction revenues such as account services and ancillary fees will expand even faster, at 26 percent.

This trajectory, the report said, reflects the country’s rapid digital adoption, powered by fintech-led innovations in mobile onboarding, QR code payments, and point-of-sale expansion.

‘Nigeria is driving innovation and digital adoption at scale,’ said Tolu Oyekan, Managing Director and Partner at BCG Lagos.

‘With the Central Bank’s Vision 2025 and fintech-led advances like mobile onboarding and QR adoption, Nigeria’s payments revenues are set to grow rapidly, fuelled by the shift from cash to cards and real-time transfers. This progress is not only boosting financial inclusion and opportunity within Nigeria but also underscores the continent’s emergence as a global payments innovation leader.’

Globally, BCG forecasts payments revenues to reach $2.4 trillion by 2029, up from $1.9 trillion in 2024.

The report identifies five structural forces reshaping the industry: the rise of agentic AI, digital currencies such as stablecoins, fintech disruption, real-time account-to-account (A2A) systems, and cost transformation.

While traditional growth drivers, such as deposit margins, are losing momentum, new forces are emerging. Agentic AI is projected to influence more than $1 trillion in e-commerce spending, while stablecoins processed $26 trillion in transactions in 2024, albeit with just 1 percent linked to real-world payments.

Meanwhile, the report disclosed that real-time A2A systems now account for around a quarter of digital retail payments worldwide and are expected to exceed 50 percent in regions like Africa by 2030. Nigeria’s NIBSS instant payment system is central to this transition.

‘Payments-focused fintechs are also reshaping the market, generating $176 billion in revenue globally in 2024 and growing at 23 percent annually. They now account for 45 percent of total fintech revenues, attracting over $135 billion in equity funding over the past 25 years,’ the global payment report noted.

Inderpreet Batra, BCG’s global head of payments and fintech, said this is a turning point for the industry.

‘Traditional growth levers are losing force, but new drivers, including agentic systems, programmable money, and fintech innovation, are rapidly coming into focus. The players that align with these shifts now will lead the next decade.’

Stablecoins could power $100trn transactions by 2030 – Citi

Stablecoins could power $100 trillion in transactions as it is set for explosive growth, a new report from the Citi Institute stated.

Like ChatGPT transformed the trajectory of artificial intelligence, stablecoins are poised to become a breakthrough force in global finance, the study shows.

According to the study, Stablecoins 2030: Web3 to Wall Street, it is projected that there will be rapid adoption of stablecoins as corporations, banks, and payment systems accelerate their shift to digital money.

The report estimates that stablecoins could reach a market size of $1.9 trillion by 2030 under its base case, with a bullish scenario pushing that figure to $4 trillion.

A growth which could underpin up to $100 trillion in transactions, powered by digitally native companies, e-commerce platforms, and rising global demand for the U.S. dollar.

Yet, Citi warns that non-bank-issued stablecoins will not be the only players in the digital currency race.

Bank-issued tokens, including tokenised deposits and deposit tokens, are expected to play an even larger role in liquidity management, payments, and corporate treasury operations.

The report projects bank tokens could handle between $100 trillion and $140 trillion in transactions by 2030, eclipsing the scale of stablecoins.

‘Stablecoins will not operate in isolation. They will share the stage with bank tokens, central bank digital currencies (CBDCs), and other emerging formats, each competing on trust, privacy, and regulatory alignment,’ the report added.

Privacy concerns, evolving regulatory frameworks, and user caution around new digital formats remain hurdles for adoption.

Citi highlights that programmability, which is the ability to embed real-time reconciliation and compliance directly into money, could be the key feature that drives mainstream utility.

Tech firm launches BlooHR to streamline HR, payroll for businesses

Bloocloud Tek Consult, a business management solution provider, has launched BlooHR, a next-generation payroll and human resources management platform tailored to meet the demands of today’s dynamic workforce.

Speaking during the launch, James Ida, Head of Business and Marketing at Bloocloud Tek Consult, described BlooHR as a timely innovation designed to meet the evolving needs of businesses and employees in today’s digital economy.

According to him, the platform integrates payroll automation, employee data management, performance tracking, and compliance reporting into a single solution, removing the inefficiencies often associated with traditional HR processes.

‘Human capital is at the heart of every successful business. Yet, many organisations still struggle with outdated systems that waste time, drain resources, and frustrate employees.

‘A truly effective HR solution must go beyond basic record keeping. It should automate payroll, centralise employee data, track performance, and ensure regulatory compliance, all while empowering employees with transparency and timely access to their information,’ Ida said.

He further emphasised that the decision to launch BlooHR was informed by Bloocloud’s market research, which revealed that many small, medium, and large enterprises across Nigeria and Africa face the same challenges of compliance, record keeping, and payroll accuracy.

‘Our goal is to provide a solution that is not only affordable but also scalable, meeting the needs of startups, SMEs, and corporates alike,’ he added.

Also commenting on the innovation, Israel Atoe, MD/CEO of Bloocloud, reaffirmed the company’s commitment to innovation, saying that ‘At Bloocloud, we believe technology should work for people, not against them. BlooHR is our contribution to building workplaces where efficiency and employee satisfaction go hand in hand.’

Industry experts at the event highlighted that digital HR solutions are becoming increasingly critical as organisations embrace hybrid work models, tighter labour regulations, and the growing demand for data-driven decision-making. They pointed out that businesses that fail to adopt technology-driven HR systems risk losing competitiveness in a fast-changing workforce landscape.

BlooHR positions Bloocloud as a key player in Africa’s HR technology space. With its user-friendly interface and cloud-based deployment, the platform is designed to adapt seamlessly to organisations of varying sizes while providing secure, real-time access to data.

U.S. puts Brazil, South Africa on human trafficking watch list

The U.S. State Department on Monday placed Brazil and South Africa on its human trafficking watch list, citing failures to show sufficient progress in combating forced labor and sex trafficking.

Both countries were downgraded to the Tier 2 Watch List in the department’s annual Trafficking in Persons (TIP) report. The ranking means they must demonstrate greater efforts against trafficking or risk possible U.S. sanctions.

The TIP report acknowledged ‘significant efforts’ by both governments but said results fell short.

For South Africa, the report cited the launch of the country’s first sub-provincial task team and more convictions of traffickers. However, it said the government identified fewer victims and initiated fewer prosecutions compared to previous years.

In Brazil, the report noted a decline in trafficking investigations, prosecutions, and initial convictions.

Downgrade deepens Trump’s rift with both countries

The downgrade comes amid heightened tensions between both countries and the Trump administration. President Donald Trump has accused South Africa of persecuting its white minority and has imposed tariffs, visa restrictions, and sanctions. Brazil has also faced tariffs and restrictions following the trial and conviction of former President Jair Bolsonaro, a close Trump ally.

‘Human trafficking is a horrific and devastating crime that also enriches transnational criminal organisations and immoral, anti-American regimes,’ Secretary of State Marco Rubio said in a statement, though he did not comment on the specific country rankings.

The TIP report was released nearly three months late after most staff in the office that prepares it were laid off. Deputy Secretary of State for Management and Resources Michael Rigas told Congress that staffing in the Office to Monitor and Combat Trafficking in Persons had been reduced by 71% this year as part of wider cuts.

Democratic lawmakers earlier raised concerns about the delay. Unlike in previous years, no State Department officials were made available to brief reporters on the report.

Rotary Club of Ikoyi Metro inspires young minds with million-Naira debate on AI’s future

In a vibrant celebration of intellect and youth potential, the Rotary Club of Ikoyi Metro recently hosted an interschool debate to honour Basic Education and Literacy Month.

The event according to a statement which , followed the club’s weekly meeting, saw five Lagos secondary schools engage in a spirited clash over a topic shaping the global conversation: ‘Will Artificial Intelligence Improve Our Future or Put It at Risk?’

With millions of naira in prizes, the initiative underscored Rotary’s mission to champion education and empower Nigeria’s next generation.

The debate, the statement said featured standout performances from student leaders: Utsu Comfort of Ireti Senior Grammar School (ISGS), Ugwuede Rhema of King’s College (KC), Nwankwo Munochimso of Holy Child College (HCC), Abdulmumin Zainab of Government Senior College (GSC), and Asiegbu Maryrose of Girls Senior Secondary Grammar School (GSSGS).

Over 30 students and a dozen teachers filled the room, with HCC sending the largest contingent of 11 students and one teacher, while GSC brought a lean team of six students and one teacher.

Rotarian Jude Izuka moderated with finesse, while judges Rotarian Anita Ugochukwu, Rotarian Dimeji Olatunji-Audu, and Rotarian Abiodun Aderonke Okusolubo, alongside timekeeper Rotarian Florence Kelvin, ensured a fair and lively contest.

The debate buzzed with insights, as students weighed AI’s transformative potential in education and healthcare against its risks of job losses and ethical challenges.

ISGS emerged victorious, but the event’s true win was its inclusivity.

Rotarian Francis Egede, Youth Service Chairman, praised the club’s collective effort, spotlighting United President Rotarian Alexander Chukwu and Immediate Past President Rotarian Gbolahan Adeyinka.

‘These students brought incredible perspectives,’ Egede said. ‘I learned so much, and I can’t wait for next year’s debate.’

Chukwu highlighted the event’s evolution: ‘Last year, we promised bigger and better, and we delivered. We expanded to five schools and ensured every participant; students, teachers, even spectators, receives a reward.’

ISGS secured N500,000, with its debaters earning N50,000 each and teachers N25,000 each. GSSGS, in second, received N400,000, with students at N30,000 each and teachers at N25,000 each. HCC took N300,000 for bronze, with N20,000 per student and N25,000 per teacher.

KC and GSC, in fourth and fifth, each got N200,000, with students receiving N10,000 each and teachers N25,000 each.

Every student attendee also pocketed an extra N10,000, a gesture of universal appreciation by the club president.

This debate was part of Rotary’s broader commitment to education, one of its seven focus areas.

Recently, the club awarded scholarships to 15 indigent students for school fees, WAEC, JAMB, and NECO exams during a District 9112 Governor visit.

‘While others sponsor morally questionable content, we choose to invest in our youths’ minds,’ Chukwu said.

‘This programme pushes them to think critically and build their futures.’