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Investors’ capital is increasingly flowing to a handful of high-performing sectors led by Fintech, Energy and Water, and Healthcare, which collectively captured over 70 percent of total investments.

Startups on the continent raised $1.42 billion across 243 deals in the first half of 2025, indicating a 78 percent increase from the same period last year, according to the ‘State of Tech in Africa H1 2025’ report by TechCabal Insights.

Fintech retained its dominance by attracting $638.8 million more than the next three sectors combined; the energy and water sector followed with $219.4 million, and healthcare pulled in $158.6 million during the period.

‘H1 2025 saw a dramatic concentration of capital compared to H1 2024, with funding for Fintech growing 166 percent and Healthcare 209 percent,’ Nima Yussuf, chief operations officer at Silverbacks Holdings, said.

‘AI now underpins faster customer acquisition, operational automation, and enhanced risk management, accelerating paths to profitability. Founders who successfully blend strong growth with AI-powered efficiency are commanding higher valuations in today’s top funding rounds,’ she stated. The energy and Water sector funding reflects growing attention to sustainability and clean infrastructure, while healthcare funding was driven by the expansion of telemedicine and diagnostic platforms.

The report revealed that emerging sectors such as housing, services, and education and jobs also gained traction as housing recorded a 3,650 percent funding spike, buoyed by a landmark deal that pushed total investment in the space to $75 million.

Services also grew by 315 percent to $61.1 million, while Education and Jobs, though attracting fewer deals, saw total funding more than double to $42 million.

However, not all sectors shared in the rebound as Agriculture and Food and Logistics and Transport suffered significant drops, falling 62 percent and 48 percent respectively, as investors pulled back from low-margin, high-cost models.

With equity funding up 79 percent and debt financing growing 75 percent year-on-year, Africa’s investment climate is shifting from survival to strategic growth. If current momentum continues, 2025 could surpass last year’s total of $2.24 billion, signaling renewed investor confidence in Africa’s maturing tech ecosystem.

The report noted that Merger and acquisition activity in Africa’s tech ecosystem has shown consistent growth since 2019, signaling a maturing market where companies are actively joining forces.

‘In the first half of 2025, a total of 29 MandA deals were recorded, the highest number for any H1 period on record,’ it stated.

The Ondo State Government says it has uncovered what it described as a politically motivated attempt to discredit the ongoing state-controlled metering scheme known as the O’Datiwa mass metering scheme, handled by the Ministry of Energy and Mineral Resources through the circulation of false allegations by a faceless Group.

A statement made available to journalists by Debbie Funmilayo, the Information Officer of the Ministry, dismissed the claims as ‘malicious, mischievous, and sponsored by desperate political actors ahead of the forthcoming general elections.’

According to the Ministry, the so-called Ondo Integrity Group (OIG) behind the allegations is a fake and unregistered entity, assembled by disgruntled politicians to discredit a performing Commissioner for Energy and Mineral Resources, Johnson Alabi and tarnish the image of Governor Lucky Orimisan Aiyedatiwa’s administration.

‘Intelligence available to us confirms that certain political actors have sponsored online blogs and paid media platforms to circulate fabricated stories designed to create confusion and weaken public confidence,’ the statement said.

Recall that a Group, the Ondo Integrity Group (OIG), recently claimed that funds for the O’Datiwa Mass Metering Scheme were being diverted to private accounts.

But the State Government said the O’Datiwa meter project remains one of the most transparent and people-centred energy reforms introduced by the administration of Governor Aiyedatiwa.

The statement said further; ‘It explained that all financial transactions under the scheme are handled through a designated state-controlled account domiciled in JAIZ Bank, as well as accredited online payment platforms approved by the Ondo State Electricity Regulatory Bureau (OSERB).

‘The false claim that payments were directed into private accounts is mischievous and therefore misleading.

‘The Government further clarified that the metering scheme allows private participation through Meter Asset Providers (MAPs), who operate independently in line with regulatory approval. As at the last count, about ten accredited MAPs are legitimately operating within the State.

‘Each MAP, being a private and commercial entity, has its independent financial accountability separate from the Ondo State Power Company Limited (OSPC).’

The statement, however, emphasised that the O’Datiwa meter is currently ‘the cheapest in Nigeria,’ with prices approved by OSERB to ensure fairness and transparency.

The African Democratic Congress (ADC) in Kaduna State has announced the expulsion of several key officials, including the Deputy Chairman, as part of sweeping internal reforms aimed at strengthening the party and consolidating the opposition ahead of the 2027 general elections.

The announcement was made during a press conference held today at the Golden Orange Gate Hotel, Narayi High Court, Kaduna.

In a statement issued at the event, the ADC leadership reaffirmed its commitment to uniting all opposition forces in the state under the party’s umbrella. The statement accused the ruling All Progressives Congress (APC) of allegedly attempting to infiltrate and destabilise the opposition through ‘mercenary politicians’ who have instituted a court case against some coalition leaders, including Mallam Nasir El-Rufai and Mallam Jaafaru Sani, the ADC National Vice Chairman (North-West).

According to the ADC, the alleged infiltration was also behind what it described as an ‘illegal suspension’ of the State Chairman, Elder Patrick Didam Ambut – a move the party dismissed as a ploy to undermine its leadership and organisational efforts. After reviewing recent developments within the state chapter, the ADC State Working Committee, led by Elder Ambut, resolved to expel the following members for alleged anti-party activities: Alhaji Ahmed Tijjani Mustapha (Deputy Chairman), Engr. Idris Musa (State Publicity Secretary), Suleiman Abdullahi (State Vice Chairman, Zone 1), Gambo Sani (State Treasurer), Magaji Maiwada (State Financial Secretary), Danlami Dabai (State Legal Adviser), Sakura Muhammed (State Coordinator of Persons With Disabilities), Ibrahim Muhammed, and Mansur Gaga (Deputy Youth Leaders).

Additionally, the coalition leadership announced the blacklisting of Hon. Adamu Ahmed Dattijo, Alhaji Suleiman Abdullahi, and Senator Musa Bello for allegedly initiating legal proceedings against key coalition figures without exhausting the party’s internal dispute resolution mechanisms. The ADC accused the trio of collaborating with APC agents to weaken the opposition’s reorganisation efforts.

In a decisive move toward reorganisation and unity, the ADC appointed Senator Nenadi Usman as Chairman and Hon. Muhammad Bashir Saidu as Co-Chairman of the Kaduna State Coalition. The duo, the party said, will serve as the new rallying point for all coalition activities and efforts to reposition the ADC as a viable alternative to the ruling party ahead of the 2027 elections. The ADC leadership urged its members and the public to cease any dealings with the expelled and blacklisted individuals, reiterating its resolve to build a disciplined, united, and people-focused political movement in Kaduna State.

Zacch Adedeji, executive chairman, Federal Inland Revenue Service (FIRS) has lauded the Nigerian judiciary for its ‘sound and consistent’ tax rulings that have helped shape the nation’s fiscal landscape.

Speaking at a capacity-building workshop for Justices of the Supreme Court, Court of Appeal, and Judges of the Federal High Court on new tax laws, the FIRS Chairman commended the National Judicial Institute (NJI) for organising the event, describing it as ‘timely and essential.’

According to him, the introduction of new tax laws, including amendments to the Finance Acts, the Petroleum Industry Act, and other subsidiary legislations, has ‘significantly reshaped our tax ecosystem’ and demands deeper collaboration between the judiciary and tax authorities.

‘The judiciary, through its interpretative powers, remains the ultimate arbiter in maintaining the delicate balance between the legitimate powers of tax authorities and the rights of taxpayers,’ Adedeji said.

‘Your consistent and sound pronouncements have provided stability, predictability, and fairness in the administration of the tax system.’

He noted that the timeliness and consistency of judicial decisions were critical to improving voluntary tax compliance, boosting investor confidence, and enhancing national revenue mobilisation.

‘Tax disputes that are resolved promptly and based on clear judicial principles foster compliance and contribute to economic stability,’ he added.

The FIRS Chairman reaffirmed the Service’s commitment to continuous partnership with the judiciary through ‘knowledge sharing, provision of technical resources, and regular engagement.’

‘As key stakeholders in the Nigerian tax system, we must continue to strengthen collaboration, foster dialogue, and develop mechanisms that promote early and effective resolution of tax disputes,’ he emphasised.

Adedeji further observed that the global digital economy and cross-border transactions continue to present complex tax challenges, making judicial education more vital than ever.

He expressed confidence that the insights gained from the workshop would ‘enhance the quality of judicial pronouncements and contribute to a more efficient and equitable tax system in Nigeria.’

Obi made this call at the launch of a book, entitled, ‘Just Go Further, Become a Total Entrepreneur,’ in Lagos, saying business owners without accounting and finance background should incorporate entrepreneurs into their business to make it scalable.

‘They have no relationship with government. Government doesn’t care about them, apart from tax. It’s the only country where relationships between business and government is tax,’ Obi said.

The former governor of Anambra State, also urged the government to focus on making the economy more productive.

According to him, a thriving MSMEs/SME will create more jobs for the growing youth population, which will also enable the government to earn more tax revenue.

‘And people will tell you tax is low in Nigeria. The more productive you are, the more you can create jobs, the more you can tax people,’ Obi said. Obi also called on Government to pay close attention to small businesses, which are the engine room of the economy by ways of recognition.

‘The reason why today we are not thriving the way we should is because we are not celebrating our entrepreneurial success. We are not even supporting them,’ Obi said. Ebele Obi, author, ‘Just Go Further, Become a Total Entrepreneur,’ said Nigeria need to deepen and elevate apprenticeships to a national level, especially into school curriculums.

‘We need to actually establish apprenticeships very much more in Nigeria, because that’s what’s driving economies in Germany, and some other countries, even in the UK,’ she said.

She also advocated for an holistic review of the country’s education curriculum, especially at the basic education level to include apprenticeships, just like what happens in Igbo land.

‘I also think that entrepreneurship and finance is not something that has been talked about enough. I grew up in a trading family, and then I think that’s one of why I’m able to survive in some things,’ she said.

Oseloka Henry Obaze, a former UN Senior diplomat and book reviewer, said the 240-page book is segmented into three self-explanatory parts.

According to him, part one talks about becoming an entrepreneur; part two focuses on sustaining the growth as an entrepreneur, and third part deals with succession planning.

Obaze said the book is fundamentally targeted at dreamers, especially those who think they can become viable and full-blown entrepreneurs.

‘The book is a motivational book written by an entrepreneur, a budding entrepreneur. Essentially, it has three vital points. Why? How to? And the gateways to entrepreneurship,’ he said.

Atedo Peterside, founder of Stanbic IBTC Bank and Anap Foundation, has criticised the Independent National Electoral Commission (INEC) under its former chairman, Mahmood Yakubu, describing it as a national disgrace.

Peterside made the comment on Monday during an interview on Politics Today, a programme on Channels Television, while reacting to the appointment of Joash Amupitan as the new INEC chairman by President Bola Tinubu.

Amupitan officially took over the role on October 23 after being confirmed by the Senate, replacing Yakubu, whose tenure as INEC boss ended earlier in the month. Yakubu had served as Nigeria’s top electoral official since 2015, overseeing two general elections during his nearly 10-year tenure.

When asked what he expects from the new INEC leadership, Peterside said he hopes for improvement but was blunt in his criticism of the commission’s past performance.

‘I will never say never, but the INEC that was led by Mahmood Yakubu was a national disgrace,’ Peterside said.

He accused the commission of mishandling election results and manipulating data uploaded on the INEC Result Viewing Portal (IReV). According to him, evidence of irregularities could be easily found on the portal.

‘If you have time, I will take you there myself and show you result sheets they uploaded mutilated, sometimes with figures changed, and in some cases, they even forget to change the words,’ he added.

The respected banker and civic leader also took aim at the Nigerian judiciary, accusing it of failing to defend justice and transparency in electoral cases. He said the courts often appeared to side with INEC or avoid addressing clear evidence of wrongdoing, which has further eroded public trust.

Peterside backed recent calls by Senator Seriake Dickson to amend the Electoral Act so that the burden of proof in election petitions would no longer fall on aggrieved candidates or parties but on INEC itself.

‘This is where our judiciary has not lived up to the required standards,’ Peterside said. ‘I agree with Senator Dickson that the burden of proof should shift to INEC. You can’t allow a situation where INEC can do anything, bring out rubbish results mutilated and everything and then argue that it’s for the victim to prove that what they’ve done is wrong, when even a blind man can see it.’

He warned that if Nigerians continue to lose confidence in both the electoral commission and the courts, many might eventually resort to self-help in future elections a development that could threaten the country’s democracy.

‘Many Nigerians have already lost faith in INEC and the judiciary,’ he said. ‘If we don’t fix this, people may stop believing that elections can bring change and may take matters into their own hands.’

Peterside’s remarks have reignited public debate about electoral credibility in Nigeria, with many observers agreeing that deep reforms are needed to restore public trust in the electoral process.

The House of Representatives has resolved to investigate the Nigerian Football Federation (NFF) over alleged misappropriation of more than $25 million in development grants received from the world football governing body, FIFA, and the Confederation of African Football (CAF) between 2015 and 2025.

The decision followed the adoption of a motion sponsored by Adedayo Adesola and co-sponsored by Nwaeke Uche during Tuesday’s plenary.

Moving the motion, Adesola referenced recent comments by former Super Eagles captain, Sunday Oliseh, who accused the NFF of undermining Nigerian football through corruption and mismanagement of FIFA and CAF funds.

Oliseh cited the handling of $1 million disbursed by FIFA to prepare the Super Eagles for the 2002 World Cup as an example of systemic rot within the football body.

The lawmaker recalled that between 2015 and 2025, the NFF allegedly received over $25 million in grants from FIFA and CAF but had little to show for the substantial inflows.

He noted that in 2016, FIFA issued an audit query to the NFF over the handling of a $1.1 million development grant, revealing that $802,000 was not properly accounted for. This led to a directive by then Sports Minister, Solomon Dalung, for an independent audit of the federation’s accounts.

Adesola also reminded the House that several NFF officials, including former President Amaju Pinnick, were subjects of investigations by the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) between 2018 and 2019 over alleged diversion of funds and sponsorship monies.

He cited a recent viral report alleging that the NFF used $1.2 million meant for football development to construct the Birnin Kebbi Stadium. According to him, physical inspection of the facility revealed it was substandard and failed to justify the expenditure. He compared it to Kenya, which reportedly used a similar amount to build a standard, fully equipped facility. The lawmaker expressed concern that continued mismanagement within the NFF could undermine Nigeria’s preparations for upcoming continental and global football tournaments, including the Africa Cup of Nations and the World Cup qualifiers.

‘There is an urgent need to halt further misuse of FIFA and CAF grants by the NFF leadership and ensure transparency in the management of football development funds,’ Adesola said. Adopting the motion, the House resolved to set up a special investigative committee to examine the activities, accounts, receipts, and disbursements of the NFF from 2015 to date.

The committee is also mandated to invite the NFF leadership to provide records of all financial transactions within the period.

The House further resolved to take additional measures aimed at enhancing transparency and accountability within the federation to restore both national and international confidence in Nigeria’s football administration.

Meta has reaffirmed its commitment to building safer digital spaces in Nigeria and across Africa.

This is even as the platform has concluded ‘The Future of Online Safety Summit’ in Abuja, a two-day event dedicated to addressing the growing threat of financial sextortion, scams, and other digital crimes.

The summit brought together leading voices from government, law enforcement, civil society, and the private sector to share strategies for tackling online harms. With discussions centered on regional leadership and inclusive collaboration, the event highlighted Africa’s growing role as a hub for digital innovation and cyber safety response.

Speaking at the summit, Kojo Boakye, vice president, public policy for Africa, the Middle East and Trkiye at Meta, said the company remains committed to victim-centered, technology-driven solutions to combat digital crimes.

‘We have developed a range of features to fight sextortion and fraud on our platforms. Our approach involves working closely with experts and law enforcement professionals who understand these crimes deeply, allowing us to design effective systems that stop bad actors,’ he explained.

Meta showcased several advanced safety tools, including upgraded content detection systems, enhanced reporting mechanisms, and user controls that allow individuals to block, restrict, or report harmful interactions. These innovations, the company said, are built to identify patterns of exploitation early and protect potential victims before harm occurs.

Binta L. Adamu Bello, director-general of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), commended Meta for its ongoing collaboration with Nigerian authorities, stating ‘Meta has been one of NAPTIP’s most valued allies in protecting vulnerable people online. This partnership demonstrates that public-private cooperation is essential to keeping users safe in the digital era.’

Echoing this, Jamila Akaaga Ade, deputy director of public prosecutions and head of the cybercrimes prosecutions unit at the Federal Ministry of Justice, emphasized the importance of cross-sector partnerships, stating, ‘The fight against cyber offenses requires a whole-of-government and whole-of-society approach. Meta’s leadership in organizing this summit is timely and crucial.

Beyond technology, the summit spotlighted proactive prevention measures, from digital literacy and youth-focused awareness campaigns to stronger law enforcement collaboration through multi-agency task forces like the Joint Case Team on Cybercrimes (JCTC).

The federal government has charged newly commissioned diplomats to uphold integrity, embrace innovation, and project Nigeria’s image with professionalism and patriotism as they begin their foreign service careers.

Yusuf Tuggar, minister of foreign affairs, gave the charge on Monday in Abuja at the closing ceremony of the 26th Regular Course of the Foreign Service Academy, where he represented Vice President Kashim Shettima.

Tuggar said Nigeria’s global representation must be anchored on competence, ethical conduct, and strategic thinking, especially in today’s rapidly evolving diplomatic landscape.

He also unveiled plans to modernise the nation’s diplomatic training framework through the integration of Artificial Intelligence (AI) and digital technologies, a key step towards strengthening Nigeria’s foreign policy and global engagement.

Describing the event as a significant milestone in Nigeria’s diplomatic evolution, Tuggar noted that the graduating officers represent a new generation of diplomats who will serve as ‘the face, the voice, and the conscience of the nation on the global stage.’

He commended the officers for their discipline and resilience throughout the rigorous training programme, which was designed to test their commitment and deepen their understanding of international relations.

‘The Foreign Service is a calling to represent Nigeria’s dignity and aspirations. Every word you speak, every negotiation you enter, and every decision you make will project the image of this great country. This is a profession that demands patriotism, integrity, and competence,’ Tuggar said.

The minister observed that diplomacy is undergoing rapid transformation with the rise of data, technology, and artificial intelligence reshaping global engagement.

To prepare Nigeria’s diplomats for this reality, he revealed that the Ministry of Foreign Affairs has established a dedicated AI Desk and recently organised a seminar on Artificial Intelligence in Modern Diplomacy.

He added that a comprehensive review of the Foreign Service Academy’s curriculum is underway to align training with contemporary global realities.

‘I recently visited the permanent site of the Foreign Service Academy in Badagry, and I am pleased to announce that the process of reviewing the curriculum to reflect these global realities has commenced,’ Tuggar said.

According to him, under President Bola Tinubu’s leadership, Nigeria is undergoing a period of deliberate renewal, combining domestic economic reforms with a revitalised foreign policy built on four key pillars: Democracy, Development, Demography, and Diaspora.

Tuggar explained that these pillars embody a people-centred and forward-looking approach aimed at promoting good governance, innovation, youth empowerment, and diaspora engagement.

‘Our foreign policy is now a pedestal of strategic autonomy. We must avoid over-alignment because it creates vulnerabilities in our region. Strategic autonomy is sophisticated statecraft, not wanton opportunism,’ he said.

The minister further stated that Nigeria’s diplomatic missions must now function as ‘economic outposts,’ actively promoting trade, investment, and technological cooperation while defending the nation’s image and countering misinformation. He urged the new officers to counter false claims, such as allegations of religious persecution, by citing constitutional safeguards that guarantee freedom of religion and prohibit discrimination.

‘You must all remember the numbers 10, 38, and 42,’ he told the officers, referencing sections of the Nigerian Constitution that uphold religious freedom and secular governance.

Tuggar also announced that the ministry has commenced a review of Nigeria’s mission charters to introduce new performance benchmarks in areas such as trade facilitation, human capital development, and local resource processing.

Highlighting President Tinubu’s Regional Partnership for Democracy (RPD) initiative, Tuggar said the programme is designed to strengthen democratic institutions and tackle insecurity across West Africa.

He urged the new diplomats to support the initiative by building regional coalitions that promote peace and development.

‘Bear in mind that the RPD recognises the variable geometry of democracy, its different forms and speeds of application, especially in our region and continent,’ he said.

Tuggar reaffirmed the federal government’s commitment to relocating the Foreign Service Academy to its permanent site in Badagry through public-private partnerships and collaboration with development partners.

Read also: FIRS chairman says tax clarity, investor confidence depend on judiciary’s insight

He also called on the National Assembly to expedite the passage of the Foreign Service Commission Bill, which would grant the Academy greater autonomy, attract international partnerships, and expand its capacity to train diplomats from other African countries.

‘It is my mission at the Ministry of Foreign Affairs to bring back statecraft to our relations with other countries, starting with skilling our diplomats to perform and compete in the 21st century,’ Tuggar said.

Congratulating the new diplomats, the minister described them as torchbearers of Nigeria’s renewed diplomatic vision.

‘Serve with honour, lead with purpose, and remember always that in any situation you find yourself, you are representatives of Nigeria,’ he charged.

Tuggar expressed gratitude to President Tinubu for his continued support in strengthening Nigeria’s diplomatic institutions and advancing the nation’s leadership role on the global stage.

Governor Dikko Umaru Radda of Katsina State on Monday swore in three new judges of the Katsina State High Court, urging them to uphold public trust with integrity, fairness, and the fear of God.

The newly appointed judges are Maryam Umaru Abdullahi, Shamsuddeen Abdurrahman ?ammama, and Abubakar Muhammad Dikko.

The swearing-in ceremony, held at the Government House in Katsina, was attended by dignitaries from the executive, legislative, and judicial arms of government, as well as members of the State Executive Council, traditional rulers, and family members of the appointees.

Speaking at the event, Governor Radda described the swearing-in as ‘a remarkable milestone in the state’s judicial history,’ noting that the appointment of the new judges would strengthen the judiciary and enhance effective justice delivery across Katsina State.

Radda expressed confidence that the new judges would contribute meaningfully to the administration of justice in the state, given their impressive qualifications and years of professional experience.

‘Today, we are swearing in three new judges of the Katsina State High Court. This is a significant step forward for our judiciary because it increases our capacity and strengthens the administration of justice in our state,’ the governor said.

‘I congratulate you and wish you God’s guidance in performing your responsibilities. This oath of office and act of allegiance are reminders for all of us in the executive, legislature, and judiciary to reflect deeply on the responsibilities we bear,’ he added.

Governor Radda further advised the judges to regularly reflect on their oaths, stressing that their positions are sacred trusts before God and the people of Katsina State.

‘After some time, maybe a month, I advise that we all go back and read this oath again. It will remind us that whatever we do, God is watching and aware of all our actions.

‘Everyone looks up to you for justice, both those who have a voice and those who do not. I believe your position will guide you to the right path if you perform your duties with diligence and sincerity.

‘We will continue to give full support to the judiciary and the legislature so that we can maintain harmony among the three arms of government. There is nothing we can achieve as a state without a strong and effective judicial system. The judiciary remains the backbone of peace, order, and justice in our society,’ he said.

He also emphasised the importance of timely justice delivery, warning that delays in judgment could weaken public trust in the judicial system.

‘As they say, time waits for no one. It is important that we dispense justice promptly and fairly so that we can build the kind of society we all aspire to,one anchored on justice, peace, and unity.

‘On this note, I congratulate you once again, wish you well, and pray for peace and unity in our state. May Almighty Allah guide all of us and strengthen the bond of unity that exists in Katsina,’ he concluded.