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Business

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ICT

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Capital Market

NGX Group Chair, Umaru Kwairanga, Receives International Business Achiever Award 2026

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Insurance

Universal Insurance CEO, Jeff Duru, Chairs SUPERNEWS Confab 2026, as Idu Okeahialam Delivers Keynote Paper

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NAICOM Chief Leads Delegation to Abia State, Pledges Partnership on Policyholders Protection, Economic Growth

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Business

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ITU Targets $100bn Funding by 2026 to Accelerate Global Digitalisation

The International Telecommunication Union (ITU) has issued a worldwide appeal calling to increase the value of pledges for digitalising the world from the current $30 billion to $100 billion by 2026.

The appeal by the United Nations specialised agency for information and communication technologies includes a focus on raising the level of resources for universal and meaningful connectivity and digital transformation in the world’s least developed countries (LDCs).

The announcement of the target was made on World Telecommunication and Information Society Day, observed annually to mark the signing of the first International Telegraph Convention and ITU’s founding in 1865.

“Tech is at the top of the global agenda, but the benefits of digital technology are still out of reach for too many people,” said ITU Secretary-General Doreen Bogdan-Martin. “If we are serious about digitalizing the world in a way that is meaningful and sustainable, we must take action to accelerate digital transformation for everyone.”

In 2023, ITU’s anniversary is focused on empowering the least developed countries through information and communication technologies using the Partner2Connect Digital Coalition and its online pledging platform.

The ITU appeal to the public and private sectors encompasses a campaign launched in February 2022 by Partner2Connect to mobilise direct funding or other contributions for connectivity projects in countries registering the lowest on development. Of the $30 billion already pledged overall, Partner2Connect has identified commitments worth $12 billion to bring the LDCs online as quickly as possible.

The United Nations defines LDCs as countries that have low levels of income and face severe structural impediments to sustainable development. The call for resources, which comes as the UN strives to rescue its Sustainable Development Goals (SDGs) by 2030, stresses the need for the globe’s digital transformation to be environmentally friendly.

“The digital revolution is a defining force of our era,” said United Nations Secretary-General António Guterres. “As the Internet becomes ever more central to value creation and innovation, least developed countries risk falling further behind. We must dramatically improve accessibility and inclusivity and eliminate the digital divide.”

According to ITU data, 2.7 billion people worldwide were offline in 2022. The digital connectivity divide separating the least developed countries from the rest of the world is widening on key factors such as access, digital skills and affordability.

Though the globe’s 46 least developed countries are home to almost one-third of the world’s offline population, the Internet is considered to be affordable in only two of those countries.

At the event marking ITU’s anniversary in Geneva, ITU Secretary-General Bogdan-Martin announced SDG Digital Day, scheduled for 17 September in New York in advance of the UN SDG Summit to review the 17 Sustainable Development Goals.

The SDG Digital Day, powered by ITU on behalf of the UN system, will showcase high-impact, sustainable, digitally based solutions that have a game-changing potential to accelerate progress on the SDGs.

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Lagos Shopping Festival 2O15 Set for Dec. 17

The maiden edition of Lagos Shopping Festival 2O15 is set for December 17, 18 and 19 at Tafawa Balewa Square [TBS], Lagos. The theme is: ‘Reinventing the Nigerian Economy via Non-oil Export.’ A statement by Prince Cookey, CEO, Lagos Shopping Festival 2O15, says the Festival is a bargain opportunity for shoppers and business opportunity for corporate organisations to showcase their products and services in the December shopping season. “December is undoubtedly the NO 1 shopping season in Nigeria. The Festival would be a showcase of consumer goods, financial/insurance services, machinery, automobile and food etc. The essence is to provide consumers the unique opportunity of shopping for a wide range of goods and services at bargain prices while enjoying rare combination of music and entertainment at the venue.”

MAN Unveils Large Corporation Group to Boost Manufacturing in Nigeria

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