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Siemens Plans Off-grid Power Solutions in Nigeria

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Siemens
  • Siemens Plans Off-grid Power Solutions in Nigeria

Siemens Limited has said it is looking to deploy off-grid power solutions in Nigeria as part of efforts to promote energy efficiency in the country.

The Managing Director and Chief Executive Officer, Siemens Limited Nigeria, Mrs. Onyeche Tifase, disclosed this in Lagos at the launch of the new Siemens brand claim, ‘Ingenuity for Life’.

She said, “We are looking at off-grid solutions and mini-grid solutions for universities, using them as exporters of energy because a university is a small hub in itself or a small city.

“How can we bring smart solutions that are affordable, renewable-based, not purely running on gas or diesel? But how can we bring efficient power solutions that can export energy to the environs? So, there is a lot we are talking about; it is an extremely exciting time for me.”

Tifase said the company was working with the German government to inject funds to boost energy efficiency in Nigeria.

She said, “We are also looking at how we can convince the German government to do what it has done already in other countries in the world – to advise government and share lessons learnt. So, we can start to change the way we even make decisions at critical levels because these things delay projects; they discourage investors. The good thing about where we are now is that people are starting to get more creative and ingenious.

“Whatever we are doing that is the best practice elsewhere can be done here.”

The Siemens Nigeria’s CEO said the company was proud and excited about the new brand statement, adding, “It aptly describes and expresses what drives us; what we do; what we are into; what we create and the added value we create for our customers, employees partners and the society at large.

“Ingenuity is at the heart of everything Siemens does. So, the word ‘ingenuity’ for our company implies innovation engineering, genius and unity; unity with its customers, partners, shareholders and stakeholders to deliver excellent solution that leaves positive impact on the society at large.

Tifase said the new brand claim also related to Siemens’ ability to “make real what matters through the creation and adoption of high-end technologies that address issues across water, health care, education, transport, manufacturing, basic infrastructure and other things.”

She said for over 160 years of existence, Siemens had continued to create solutions for the greatest challenges confronting humans.

She said, “As the world becomes more complex and interconnected, there are tougher questions being asked on how we can sustainably ensure faster and more efficient transportation, stable and affordable power, safe and portable drinking water and accessible health care, and so on.

“In Nigeria, we are proud of the legacies we have built here over the past 46 years and our commitment to remain unwavering despite the challenges we are facing now. Siemens is here for the long term; when things are turned around, we want to be here fixing things, building things, teaching, advising, transferring technology, and sharing technology and technological best practices.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

Flutterwave Celebrates Inclusion in CNBC’s Top 250 Global Fintechs

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Flutterwave has been recognized as one of the Top 250 Fintech companies globally by CNBC and Statista.

Joining the ranks of industry giants like Ali Pay, Klarna, Piggyvest, and Mastercard, this accolade underscores Flutterwave’s impact on the financial technology sector.

This honor follows Flutterwave’s recent inclusion in Fast Company’s Most Innovative Companies list, highlighting the company’s pivotal role in transforming Africa’s payment landscape.

The recognition is a testament to Flutterwave’s dedication to innovation and excellence in providing seamless payment solutions across the continent.

Expressing gratitude, Flutterwave acknowledged its talented team, supportive board, reliable partners, and loyal customers for contributing to this success.

The company continues to drive progress in the fintech industry, reinforcing its commitment to enhancing financial accessibility and inclusion in Africa and beyond.

Flutterwave’s recognition on these prestigious lists marks a proud moment and a significant milestone in its journey, reflecting the company’s growing influence and leadership in the global fintech arena.

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Startups

Google Leads $250 Million Funding Round for Glance

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A logo is pictured at Google's European Engineering Center in Zurich

Google is leading a $250 million funding round for Glance, a mobile content provider.

This infusion of capital aims to expand Glance’s reach and solidify its market position amidst growing competition.

Glance, a subsidiary of InMobi Group, offers a unique service that delivers news, entertainment, and other content directly to users’ mobile screens without unlocking their devices.

With a user base exceeding 300 million across India, the US, Japan, and Indonesia, the startup has gained significant traction since its inception in 2019.

The funding round, expected to close in the coming weeks, marks a continued partnership between Google and Glance.

Google initially invested in the company in 2020, and this latest round will further enhance Glance’s capabilities to innovate and reach new audiences.

This investment reflects Google’s strategic interest in India, the world’s most populous nation, where it competes with tech giants like Microsoft, Meta, and Amazon.

With India’s rapidly growing middle class and increasing smartphone adoption, the market presents vast opportunities for digital expansion.

The support from Google comes on the heels of a previous $200 million investment by Mukesh Ambani, Asia’s wealthiest individual, which valued Glance at over $1 billion.

The startup’s largest stakeholder, InMobi, continues to thrive as a pioneer in mobile advertising, with Glance benefiting from its expertise and resources.

As Glance prepares for this new phase of growth, it stands poised to redefine how content is consumed on mobile devices worldwide.

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Cyber Threats Surge as Nigeria’s Digital Economy Expands

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As Nigeria’s digital economy flourishes, it faces escalating cyber threats, prompting the Federal Government to issue 33 cyberattack advisories in the past year.

These warnings, issued by the Nigeria Computer and Emergency Response Team (ngCERT), highlight the growing vulnerability of the nation’s digital infrastructure.

Since July 2023, ngCERT has alerted Nigerians to new attack methods and vulnerabilities. With 22 advisories issued in 2024 alone, the surge in cyberattacks coincides with the accelerated digitization spurred by the COVID-19 pandemic.

Monthly internet usage in Nigeria soared from 125,149.86 terabytes in December 2019 to 753,388.77 terabytes in March 2024.

The National Information Technology Development Agency (NITDA) notes that increased digitalization has heightened cybersecurity risks, necessitating robust protective measures.

According to Check Point Research, Nigerian businesses face approximately 2,308 attacks weekly across all sectors.

The advisories reveal various cyber threats, including ransomware and banking trojans. A recent warning highlighted Grandoreiro, a malware targeting over 1,500 banks globally, affecting 41 banking applications in Nigeria alone.

These attacks aim to steal sensitive financial data, potentially causing significant financial losses.

Nigeria’s critical infrastructure is also under threat. In August, pro-Nigerien hackers attempted to disrupt MTN Nigeria’s network, although they were unsuccessful.

During the 2023 elections, the government recorded 12.99 million cyberattacks, underscoring the scale of the threat.

Cybercrime costs Nigeria about $500 million annually. This includes data damage, stolen money, lost productivity, and post-attack disruptions.

The Federal Bureau of Investigation ranked Nigeria as the 16th country worst affected by cybercrime in 2020.

Experts emphasize the need for stronger cybersecurity measures. Adesina Sodiya, a professor of Computer Science and Information Security, warns that cyberattacks will continue to grow in sophistication.

He stresses the importance of building a cybersecurity curriculum and involving experts in creating effective strategies.

In response, NITDA plans to reduce cyberattacks by 40% by 2027. “As we digitize, we must build with security in mind,” said Kashifu Inuwa, director-general of NITDA.

The agency aims to implement comprehensive strategies to protect Nigeria’s burgeoning digital economy.

As Nigeria’s digital economy expands, it must address the growing cyber threats that accompany this progress. By enhancing cybersecurity measures and fostering collaboration among stakeholders, Nigeria can safeguard its digital future.

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