Connect with us

Business

Nigeria targets 30% growth in .ng domain adoption amid reforms, NiRA says

info

Published

on

1777797813 admin ajax.png

 

NiRA’s move comes amid a gap between Nigeria’s population and its domain name footprint. Despite having over 242 million people, Nigeria has recorded about 240,000 .ng domain registrations. By comparison, South Africa, with a population of about 65.4 million, has approximately 1.4 million domain registrations, while Kenya, with 58.6 million people, has about 115,000 domains registered.

 

NiRA to drive .ng domain name uptake among Nigerians

NiRA says closing this gap is critical to advancing Nigeria’s digital economy and strengthening its national digital identity framework.

According to the registry, increased adoption of the .ng domain will support internet growth in Nigeria while enhancing local visibility for businesses and individuals seeking a trusted online presence.

To drive uptake, NiRA says it will intensify marketing efforts and awareness campaigns.

“This growth drive,” NiRA says, “will be supported by efforts to increase .ng brand visibility through targeted digital marketing campaigns and implement impactful corporate social responsibility (CSR) initiatives that promote digital identity and the use of .ng domains.”

The association is also prioritising improvements in registry infrastructure to support higher adoption levels, with a focus on enhancing system security, stability, and availability.

“The plan is to DNSSEC across the .ng zones to strengthen the domain name system security and invest in enhanced cybersecurity infrastructure to monitor threat detection, and response capabilities,” NiRA says.

To sustain these improvements, NiRA says it will strengthen the technical capacity of its team through training and knowledge development to manage a more complex and security-sensitive domain environment.

The registry is also seeking deeper collaboration with registrars and ecosystem partners to expand distribution channels and increase market reach.

Beyond market expansion, NiRA’s strategy signals structural changes in governance. Under its organisational capacity agenda, the association says it will align with global best practices by strengthening institutional effectiveness and separating governance from management functions.

“We will undertake a review of the existing NiRA constitution and remove executive management responsibilities currently assigned to the Board of Directors,” NiRA says, adding that plans are underway “to establish a C-Level Executive Management Team responsible for the day-to-day management and operational execution of the organisation.”

NiRA is also increasing engagement with policymakers to create an enabling environment for domain growth. The association says it will work with government institutions and stakeholders to promote policies that encourage adoption of the .ng domain among corporates, businesses, and individuals.

It also plans to advocate for legislative and regulatory measures to support the adoption, growth, and protection of Nigeria’s country code top-level domain.

As part of this effort, NiRA says it will promote the use of .ng domains across public sector institutions, including ministries, departments, and agencies at federal and sub-national levels, to deepen integration of the national domain within government digital infrastructure.

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Elon Musk becomes world’s first trillionaire as SpaceX IPO surges on debut

info

Published

on

By

Elon Musk e1751796737294.jpg

MTN ADVERT

Elon Musk, the world’s richest person, has attained trillionaire status after SpaceX, the rocket, AI and satellite communications company established by him, turned a soaraway success on its first trading day, surging 20 per cent to $2.1 trillion in valuation.

SpaceX’s shares closed at $161 on the Nasdaq on Friday, compared to its initial public offering (IPO) price of $135, making it the biggest-ever stock market debut.

The IPO had earlier raised $75 billion from investors and the underwriters of the transaction before the listing.

“Liftoff! First $SPCX trade complete,” Space X wrote on X (formerly Twitter), which Mr Musk also owns.

The 54-year old now has a total net worth of $1.1 trillion, according to the Bloomberg Billionaires Index, with its stake in SpaceX standing at 42 per cent or $767.1 billion as of Friday.

PT WHATSAPP CHANNEL

SpaceX debuted with a valuation of around $1.8 trillion. Its valuation at the end of Friday’s trade makes it the sixth-largest publicly traded company in the United States.

Trading under the ticker symbol “SPCX,” SpaceX began trading shortly before noon, attracting strong investor demand.

The listing places SpaceX among the world’s most valuable companies, despite the firm reporting a loss of nearly $5 billion last year and generating significantly less revenue than many technology giants with comparable valuations.

“I gave SpaceX a 10 per cent chance of succeeding at all,” Mr Musk said shortly before the company was listed.

SpaceX, since its establishment in 2002, has evolved from an experimental rocket startup into a dominant player in aerospace, satellite communications, and AI-related infrastructure.

READ ALSO: Elon Musk announces formation of American Party

Starlink, its satellite internet business, has expanded SpaceX beyond rocket manufacturing into a broader technology and connectivity platform.

Mr Musk, who now controls several companies, including Tesla, SpaceX, xAI, and X, began building his wealth by co-founding Zip2 and PayPal.

After completing the acquisition of X in October 2022 in a deal worth $44 billion, Mr Musk introduced monetisation features on the platform, which contributed to the growth of his business empire.

After selling Zip2 and later PayPal, he reinvested much of his earnings into Tesla, SpaceX, and other ventures.

Mr Musk’s wealth is now nearly equivalent to the entire economic output of Switzerland or Poland.


Continue Reading

Business

Nigeria’s Pension Assets Top ₦32tn as Kenyan Regulator Understudies Reforms

info

Published

on

By

IMG 20241121 WA0041.jpg

BY NKECHI NAECHE-ESEZOBOR—The National Pension Commission (PenCom) has received a four-member delegation from Kenya’s Retirement Benefits Authority (RBA) for a four-day technical study visit in Abuja, solidifying Nigeria’s position as a leading reference point for pension reform and regulatory innovation across the African continent.

The Kenyan delegation, led by John Keah, Director of Market Conduct and Industry Development at the RBA, is visiting Nigeria from June 8 to 11, 2026, to understudy PenCom’s regulatory and supervisory frameworks.

Keah noted that the engagement highlights the critical role of cross-border learning among African regulators aiming to optimize retirement systems and improve pension outcomes for citizens. He added that structural similarities between the two nations’ pension landscapes make Nigeria’s journey highly relevant to Kenya’s ongoing domestic reforms.

The RBA delegation is focusing its study on PenCom’s Environmental, Social, and Governance (ESG) initiatives, its risk-based supervision framework, and its strategies for expanding pension coverage to both the informal sector and the diaspora.

Keah particularly lauded the governance safeguards within Nigeria’s pension system and described the Diaspora Pension Arrangement as an innovative milestone capable of reducing old-age poverty and enhancing long-term retirement security.

Welcoming the delegation, the Director General of PenCom, Ms. Omolola Oloworaran, reiterated Nigeria’s dedication to regional collaboration and knowledge exchange. Represented by the Director of the Surveillance Department, Abdulrahaman Muhammad Saleem, the Director General revealed that pension assets under management in Nigeria have grown to over ₦32 trillion, representing approximately 10.4 percent of the nation’s Gross Domestic Product (GDP).

This growth, she noted, stems from continuous regulatory reforms, heightened governance standards, and rigorous supervisory mechanisms established since the inception of the Contributory Pension Scheme (CPS) in 2004.

Ms. Oloworaran also highlighted the Federal Government’s recent settlement of outstanding accrued pension rights liabilities as a historic turning point for the CPS.

The intervention, executed through the issuance of a Federal Government bond, effectively resolved a prolonged funding backlog that had previously delayed retirement benefits for public sector employees within Treasury-Funded Ministries, Departments, and Agencies (MDAs).

Under the new framework, accrued rights are transferred directly into retirees’ Retirement Savings Accounts (RSAs), granting immediate access to investment returns and eliminating lengthy waiting periods.

The technical visit, anchored on the theme “Risk-Based Supervision and ESG Integration in Pension Funds,” includes interactive departmental presentations, study tours to selected Pension Fund Administrators (PFAs), and collaborative sessions on emerging risks.

Both regulatory bodies expect the engagement to deepen bilateral cooperation and foster resilient, inclusive, and sustainable pension architectures across East and West Africa.

The post Nigeria’s Pension Assets Top ₦32tn as Kenyan Regulator Understudies Reforms appeared first on Business Today NG.

Continue Reading

Trending