‘Nigeria losses $450m annually to adoption, usage of foreign Cloud Computing services’

An Information and Communications Technolgy (ICT) stakeholder in Nigeria has said that the country losses about $450 million yearly to the adoption and usage of foreign cloud computing services such as Amazon Web Services (AWS) and others which Nigerian banks, financial institutions and relevant agencies subscribe to on a regular basis.

Mr Aderemi Adejumo, Managing Director of Cloudflex Computing Services Limited, who made the statement while speaking on a radio programme in Lagos recently tagged, “Financial Matters”, sponsored by Fidelity Bank PLC, noted that Nigeria losses such a huge amount to the foreign land despite the formulation of Nigerian Cloud Computing Policy which is meant to address capital flight, among other issues that retard the nation’s growth in the area of cloud computing system and services.

He said: “Cloud computing has no boundaries, it has no borders. I believe that here in Nigeria, Cloud computing is worth about $500 million a year, and 90 per cent of that is actually spent outside Nigeria, that is the biggest challenge we have.

“ The National Information Technology Development Agency (NITDA) at a time had the Minister of Communications and Digital Economy Dr Isa Pantami as its DG, and under his leadership, they created what was called Nigerian Cloud Computing Policy (NCCP), but it wasn’t enforced.

“Also, my criticism about the policy is that it doesn’t address the core issue and the core issue is data localisation. What I mean by that is that their focus is MDAs using the cloud, that was their focus.

“But not the localisation of data and I say If you take the industries that are being regulated or affiliated to the Nigerian Authorities, you have got CBN, PenCom, NAICOM, NNPC, so anybody that is related to that should be under those laws and jurisdiction because they related to Nigerian economic success.

“Let’s say $500 million is being sent out of the country rather than being spent within the country, and this is so, because if you are on Cloudflex, you pay in Naira but if you are on AWS (Amazon Web Services), you pay in Dollar, So, that precious resources that are going out could be avoided.

“So, that is core and the biggest issue. For me, it is great that you have former DG of NITDA, who has the great understanding now as the Minister, so greater power and wider responsibilities. I know there is a lot they are trying to do because they have many issues with Right of Ways (RoW), issue of connectivity, issue of improving things and Cloud computing is one aspect of it, it is interwoven and if you succed with this, you will then succeed with other things.

“But, I believe that what is really needed is enforcement of Nigerian Cloud Computing Policy, extend it to the regulatory industries which cover the banks, all financial institutions and all that, that they must be in Nigeria and not outside Nigeria and I think that will be a boom for Nigerian businesses.”


We Have Been Forced To Pay About N50m Ransom, Ibarapa Community Cries Out
INDIGENES of Igangan community in Ibarapa North Local Government Area of Oyo State, on Sunday, recounted how they had been forced to pay about N50 million in ransom for wanton cases of kidnapping in the area. Beyond being victims of kidnapping, the residents of Ibarapa communities also recounted regular experience…

Insecurity In South-West: OPC Issues Warning, Backs Akeredolu, Igboho
Oodua People’s Congress (OPC) on Sunday threw its support for the Ondo State governor, Mr Rotimi Akeredolu (SAN), pledging to assist him in enforcing the deadline issued to herdsmen to vacate forest reserves in the state, just as it cautioned the presidency and the Arewa Consultative Forum…

MONDAYLINES: Fulani In Yoruba Forest
Even if you feed on tortoise’s head, you should weep reading this young man’s tribute to his dad who was recently murdered by Fulani herdsmen on his farm: “I remember one of our last conversations, I told you I had lost every hope in Nigeria and how I don’t see it becoming better in another 50-100 years…

EDITORIAL: Akeredolu’s Quit Notice And Buhari’s Govt Defence Of Killer Herders
IF there was any doubt left in the minds of Nigerians that the Muhammadu Buhari administration places more premium on the lives of Fulani herdsmen than any other lives in the country, such an illusion was violently shattered last week. First, in an unprecedented, crude and criminal assault on the sensibilities…

Threats Of Reprisal Attack Against South-West: ACF, Miyetti Allah Are Jokers ― Gani Adams
Aare Ona Kakanfo of Yoruba land, Iba Gani Adams, on Sunday, reacted to the threats to attack the South-West in a reprisal mission by the Arewa Consultative Forum (ACF) and Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), describing the two northern groups as jokers…

PDP Expresses Concern Over Multiple Disasters Affecting States
The Peoples Democratic Party (PDP) lamented the spate of disasters across the states of the federation in the recent time, saying that it calls for the concern of all. In a statement issued in Abuja, on Sunday, by Kola Ologbondiyan, National Publicity Secretary, the party said it was pained particularly over the recent devastating fire disaster at the Sokoto Central…

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More