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Nigeria-French Technology Roundtable Strengthens Innovation Ties in Lagos

Nigeria-French Technology Roundtable Strengthens Innovation Ties in Lagos

 In a significant move to deepen international collaboration in technology and innovation, Nigerian and French entrepreneurs, investors, and industry leaders gathered for the Nigeria-French Technology Roundtable in Lagos. The event highlighted Nigeria’s rapidly growing tech ecosystem, provided a platform for strategic partnerships, and set the stage for Nigeria’s landmark participation in VivaTech 2025—one of Europe’s premier technology and innovation conferences.

Organized as part of ongoing efforts to foster stronger Nigeria-France business relations, the roundtable facilitated high-level discussions on investment opportunities, knowledge exchange, and the expansion of digital transformation initiatives across both nations. The event attracted key players from Nigeria’s startup scene, representatives from leading French technology firms, policymakers, and stakeholders from various sectors, all eager to explore avenues for collaboration.

Spotlight on Nigeria’s Thriving Tech Ecosystem

Nigeria has emerged as one of Africa’s leading technology hubs, with its startups attracting billions of dollars in investments and making groundbreaking strides in fintech, health tech, agritech, and artificial intelligence. During the roundtable, participants discussed how Nigerian startups can leverage French expertise, funding opportunities, and market access to scale their solutions globally.

French investors and business leaders, in turn, expressed keen interest in Nigeria’s fast-growing digital economy, citing its youthful, tech-savvy population and a thriving entrepreneurial culture as major drivers of innovation. France, known for its strong support for tech startups through initiatives like La French Tech, has increasingly engaged with African innovators, with Nigeria playing a crucial role in this partnership.

Setting the Stage for VivaTech 2025

A key highlight of the discussions was Nigeria’s preparation for VivaTech 2025, a global event that brings together industry leaders, investors, and startups to showcase cutting-edge innovations. The event will provide Nigerian entrepreneurs with an opportunity to present their solutions to a global audience, attract investment, and forge international partnerships.

As Nigeria gears up for its participation in VivaTech 2025, the roundtable served as a crucial networking event to align strategies, create synergy among stakeholders, and ensure that the country’s tech ecosystem is well-represented on the global stage.

Strengthening Bilateral Innovation Ties

The Nigeria-French Technology Roundtable reaffirmed the growing collaboration between both countries in the technology and digital economy sectors. As discussions on trade, investment, and innovation continue, the event marked another step toward positioning Nigeria as a key player in the global tech landscape.

With Nigeria’s digital transformation accelerating and international partnerships strengthening, the event underscored the country’s potential to become a powerhouse in global innovation and technology.

#NigeriaTech #Innovation #NigeriaFranceCollaboration #VivaTech2025 #TechPartnerships

NASENI Partners with Tiamin Rice Limited to Boost Agricultural Productivity in Nigeria

NASENI Partners with Tiamin Rice Limited to Boost Agricultural Productivity in Nigeria

 In a major step towards strengthening Nigeria’s agricultural sector, the National Agency for Science and Engineering Infrastructure (NASENI) has signed a Memorandum of Understanding (MoU) with Tiamin Rice Limited. The agreement is set to revolutionize irrigation infrastructure, enhance agricultural productivity, and contribute to national food security.

This partnership aligns with President Bola Tinubu’s food security agenda, focusing on sustainable agricultural practices that will improve crop yields, reduce dependence on food imports, and create employment opportunities. NASENI, known for its cutting-edge engineering solutions, will provide advanced irrigation technologies and innovative farming infrastructure to support large-scale rice production and other agricultural ventures.

According to NASENI officials, this collaboration will introduce modern irrigation systems that ensure efficient water management, allowing farmers to cultivate crops all year round. This is expected to significantly increase Nigeria’s rice output and reduce post-harvest losses, ultimately driving economic growth in the agricultural sector.

Speaking at the signing ceremony, the CEO of Tiamin Rice Limited expressed confidence that the partnership would not only enhance food production but also strengthen Nigeria’s position as a key player in Africa’s rice industry. He emphasized that integrating NASENI’s technological expertise with Tiamin’s agricultural experience will result in a more efficient and productive farming system.

The move has been widely applauded by industry stakeholders, who see it as a crucial step towards achieving Nigeria’s goal of self-sufficiency in food production. As climate change and population growth continue to challenge food security, investments in innovative agricultural solutions like this will play a pivotal role in ensuring long-term sustainability.

With this agreement, NASENI and Tiamin Rice Limited have set the stage for a transformative shift in Nigeria’s agricultural landscape—one that promises increased productivity, economic empowerment for farmers, and a more resilient food system.

#RevolutionizingAgricultureInNigeria
#SustainableFoodSecurityForNigeria

Overuse of AI May Lead to Cognitive Decline and Skill Degradation, Experts Warn

Overuse of AI May Lead to Cognitive Decline and Skill Degradation, Experts Warn

 

As artificial intelligence (AI) becomes increasingly integrated into daily life, experts are raising concerns about the potential downsides of overreliance on AI-driven tools. While AI can enhance productivity, excessive dependence on it for tasks like writing, decision-making, and problem-solving may have unintended consequences.

Cognitive Decline and Skill Degradation

Analysts warn that constantly using AI instead of engaging in critical thinking and writing can lead to skill erosion. Just as muscles weaken without exercise, the human brain thrives on mental challenges. “The more you rely on AI to generate ideas and content, the less your brain is engaged, potentially leading to cognitive decline over time,” said a neuroscience researcher.

Some studies suggest that intellectual laziness—using AI for tasks one is capable of doing—can reduce neural activity. While AI learns and evolves from user input, the human brain, when underutilized, risks losing its sharpness.

Loss of Authenticity and Originality

Experts also caution that AI-generated content often lacks personal touch, creativity, and emotional depth. Writers who excessively use AI may find their style becoming robotic, generic, or uninspired.

Moreover, AI systems, though powerful, can generate misleading or biased information. Without human oversight and fact-checking, reliance on AI could lead to the spread of misinformation.

Privacy, Security, and Ethical Concerns

Privacy advocates warn that AI tools, especially those requiring user input, may store and analyze personal data, raising concerns over data security. Ethical issues, such as AI-generated deepfakes and misinformation, also pose risks when users blindly trust AI-generated outputs.

Finding a Balance

Technology experts recommend using AI as an enhancement rather than a replacement for human intelligence. “AI should be a tool to support learning and creativity, not a substitute for critical thinking,” said a digital ethics specialist.

As AI continues to advance, the key lies in striking a balance—leveraging AI for efficiency while ensuring that human intellect remains at the forefront.

President Tinubu Wraps Up Tanzania Visit, Pledges Nigeria’s Commitment to Universal Electricity Access by 2030

President Tinubu Wraps Up Tanzania Visit, Pledges Nigeria’s Commitment to Universal Electricity Access by 2030

 

President Bola Ahmed Tinubu has concluded his visit to Dar es Salaam, Tanzania, where he joined other African leaders at the **Mission 300 Africa Energy Summit**. The two-day summit, hosted by the Tanzanian government in partnership with the African Union, the African Development Bank (AfDB), and the World Bank Group, ended with the adoption of the **Dar es Salaam Declaration**—a bold commitment to provide electricity access to 300 million Africans by 2030.

President Tinubu, who arrived in Tanzania on Sunday, has since returned to Abuja. During the summit, he reaffirmed Nigeria’s determination to ensure that every citizen has access to reliable and affordable electricity within the next five years.

The event, held at the Julius Nyerere International Convention Centre, brought together leaders from 12 African nations, including Nigeria, Chad, Côte d’Ivoire, the Democratic Republic of the Congo, Liberia, Madagascar, Malawi, Mauritania, Niger, Senegal, Tanzania, and Zambia. Together, they signed the Dar es Salaam Declaration, which outlines a roadmap for achieving energy access through National Energy Compacts. These compacts will address specific policy measures and set tailored targets for each country.

In a speech delivered by Nigeria’s Minister of Power, **Adebayo Adelabu**, President Tinubu commended the AfDB, the World Bank Group, and other development partners for their collective efforts to bridge Africa’s energy gap. He urged African leaders to prioritise energy access as a foundation for economic growth and development.

“Let us work together to create a brighter future for our citizens—where every African can access reliable and affordable energy. A future where our industries thrive, our economies grow, and our people prosper,” President Tinubu said.

The President highlighted Nigeria’s progress in the energy sector, including the AfDB’s $1.1 billion investment, which is expected to provide electricity for 5 million Nigerians by 2026. He also mentioned the $200 million Nigeria Electrification Project, aimed at powering 500,000 households by 2025. Additionally, he noted the AfDB’s planned $700 million investment in the Nigeria Desert to Power Programme and a $500 million facility for the **Nigeria-Grid Battery Energy Storage System**, which will benefit an additional 2 million Nigerians.

President Tinubu also revealed that Nigeria is set to leverage the World Bank’s $750 million support to expand distributed energy access through mini-grids and standalone solar systems, targeting 16.2 million people.

“As Nigeria’s President, I am committed to making energy access a top priority. This is an ambitious goal, but we can achieve it together,” he said.

The President outlined Nigeria’s ongoing investments in renewable energy, particularly solar power, and announced plans to develop an **Electric Vehicle (EV) Charging Infrastructure Programme**. He shared that the first 100 electric buses have already arrived in the country, marking a significant step towards sustainable transportation.

“Nigeria’s energy sector is growing as a direct result of our reforms. We are incentivising investments in renewable energy, oil, and gas, as well as energy efficiency,” President Tinubu added.

The summit also saw the **International Finance Corporation (IFC)** commit $70 million in private sector funding to five Nigerian Renewable Electricity Service Companies (RESCOs) under the **Nigeria Distributed Access Through Renewable Energy Scale-Up (DARES)** programme. This initiative will be implemented by the **Rural Electrification Agency (REA)**.

Nigeria’s **National Energy Compact**, presented at the summit, sets ambitious targets, including expanding power generation, investing in transmission and distribution infrastructure, and incentivising private sector participation. The compact estimates that Nigeria will require $23.2 billion in investments to achieve last-mile electrification, with contributions from both public and private sectors.

President Tinubu concluded by thanking Ajay Banga’ President of the World Bank Group, and Dr. Akinwunmi Adesina, President of the AfDB, for their transformative vision, which he described as “a beacon of hope that will light up and power Africa.”

The Nigerian delegation expressed optimism that the commitments made at the summit will pave the way for a new era of energy access and economic prosperity across the continent.

DeepSeek: The AI Revolution That Shook the Tech World

DeepSeek: The AI Revolution That Shook the Tech World

 

DeepSeek, a Chinese artificial intelligence application launched in 2023 and funded by the High-Flyer hedge fund, has sent shockwaves through the global tech industry. Its emergence has disrupted the U.S. technology sector, triggering over $1 trillion in losses across stock markets and cryptocurrencies.

The scale of DeepSeek’s impact lies in its efficiency, innovation, and strategic breakthroughs that have rattled even the most established players in AI. Here’s why DeepSeek is causing such a stir:

  • Cost-Efficiency Beyond Compare: DeepSeek reportedly spent just $6 million to achieve what OpenAI accomplished with $100 million, setting a new benchmark for cost-effective AI development.
  • Defying U.S. Sanctions: Despite sanctions aimed at restricting China’s access to advanced Nvidia chips crucial for AI development, DeepSeek emerged as a testament to China’s technological resilience and ingenuity.
  • Record-Breaking App Adoption: On January 10, 2025, DeepSeek launched its first free chatbot app. By January 27, it had surpassed OpenAI’s ChatGPT as the most-downloaded free app on the iOS App Store in the United States.
  • Unmatched Performance: DeepSeek’s AI model, R-1, has outperformed OpenAI’s ChatGPT 0-1 in tasks such as mathematics, coding, and reasoning. Remarkably, it achieved this while running on less powerful and more affordable Nvidia GPUs.
  • Revolutionary AI Model: The DeepSeek-R1 model employs advanced techniques like large-scale reinforcement learning and multi-stage training, including pre-training, post-training, and test-time scaling. These approaches have pushed the boundaries of AI reasoning capabilities.
  • Open-Source Innovation: In a bold move, DeepSeek has open-sourced its flagship models and six smaller variants, ranging from 1.5 billion to 70 billion parameters. This openness stands in stark contrast to OpenAI, which has shifted toward more proprietary operations.
  • Challenging Western Dominance: DeepSeek represents a significant challenge to the dominance of Western firms in the artificial intelligence space, marking a paradigm shift in the global AI landscape.

The rise of DeepSeek underscores China’s growing influence in technology and its ability to innovate under pressure. As the world watches, the question remains: How will Western tech giants respond to this seismic shift in the AI sector?

A booming continent needs a new payment infrastructure

A booming continent needs a new payment infrastructure

Africa is an exciting, vibrant and creative place to do business. But make no mistake, it has its challenges. Currency devaluation, political instability, and service disruptions are endemic. Africa is not for sissies, as the saying goes.

 

In navigating those challenges, relationships matter. It’s not so much about throwing money at a problem, it’s about investing time, building trust, meeting with partners and regulators, and understanding each other’s needs.

Africa offers an enormous upside for those prepared to make this time investment. The continent’s population is set to reach 2.5 billion (http://apo-opa.co/3W7Kp4w) by 2050, and Africa’s people are embracing digital technology, as the World Bank (http://apo-opa.co/3Waln4F) confirms. They are leveraging digital connectivity to improve their lives, educate themselves, send remittances, and start small enterprises. There is value in investing in that level of human development.

The payments opportunity

Running through this African growth trajectory is a particular business thread: payments (http://apo-opa.co/3WawLxk). There are opportunities for anyone who can simplify, rationalise and standardise payments for the continent’s dynamic financial economy.

An organisation in just such a position is MultiChoice (www.Multichoice.com/), the leading pan-African video entertainment provider for almost 40 years. In building a pay-TV network across the continent, with up to 23.5 million (http://apo-opa.co/3WawOJw) customers across 50+ markets, and 100 million+ monthly viewers, MultiChoice also built relationships across the continent to collect payments, for DStv, GOtv, and Showmax – potentially the only large enterprise to need such enormous breadth.

The Group has converted the opportunity that this represents, partnering with global venture-capital firm General Catalyst and payments company Rapyd to launch Moment (http://apo-opa.co/4ad1H5N), which aims to be the broadest, deepest payment network across Africa.

Launching with Showmax and DStv as initial clients, Moment started processing payments for parts of the group in January 2024. By November 2024 MultiChoice was already collecting around 35% of its revenue through Moment rails, and those numbers are rising quickly. Services to other enterprises were rolled out in August.

Moment already collects and disburses across 44 African countries, accepting 200+ local payment methods – spanning in-person payments at over 1 million store and agent locations, mobile money, credit and debit cards, bank transfers, and digital wallets.

Enabling consumers and businesses to move from cash to digital, Moment and its network offers users access to better financial opportunities, lower prices, higher quality goods and services, and full access to the digitally enabled economy.

Expanding the ecosystem

To access the initial target market of large enterprises that will benefit from the reach, breadth, and high performance needed by MultiChoice, Moment has built out a fully cloud-native infrastructure. The platform can deliver on the high daily and weekly loads needed for one of the largest billing bases on the continent, and also smoothly deal with the potential for network outages, power cuts, and other disruptions.

In order to ensure businesses have access to the daily cash flow they need, Moment has built a robust financial reconciliation and settlement system capable of automating and simplifying the daily reconciliation process for enterprises and enabling them to spend tight staffing budgets efficiently, while getting fast, accurate financial reporting and access to their receivables.

To help these enterprise customers expand their customer bases, Moment opens up the largest mass-market suite of payment channels through its network, enabling businesses to fully tap into the mass market’s buying power for the first time with a single API connection – providing access to more than a million in-person payment locations across spaza shops, modern retail locations, and a host of online payment options tuned to the needs of each local market.

To ensure that Moment’s clients and the market are ready for the future, Moment is building a “coalition” around real-time payments, to educate consumers on the benefits of PayShap and other real-time payment methods that can significantly reduce cost and increase payment speed. DStv and Moment launched PayShap payments in South Africa as the first “consumer to business” real-time payment option built on South Africa’s RPP payments system. Moment has developed partnerships with similar systems in the SADC countries and Nigeria to expand real-time payments as the market evolves.

Simplifying the process

One of the reasons MultiChoice first looked at the payments space was precisely because it is a complex environment, characterised by multiple service agreements, commission rates and exchange rates. It made sense to try to simplify the payments landscape, for everyone’s benefit.

Africa is a challenging territory, but Africans are agile and innovative. Trends and new solutions emerge constantly. Any platform entering this space must recognise that there isn’t one answer; there are many. By partnering with MultiChoice, Moment has built out technology with the flexibility to configure the right solution for each market.

The upsides of building for the challenging scale of MultiChoice as a launch client are significant – other enterprises Moment is working with have built unwieldy daily financial operations to manage their own complexity. Anecdotally, one merchant maintains a staff of 75 people doing reconciliations for their business – operations that can be automated and streamlined leveraging the Moment platform. Moment presents a vast opportunity in simplifying that process, automating it, while enabling customers to focus on their core business and customer relationships.

Africa is the largest single opportunity in the world. As our population booms over the next 20 years, many new business foundations will need to be laid across the continent – especially in the area of payments.

Payments are the lifeblood of Africa’s economy. Enabling them efficiently and cost-effectively, across the continent, ensures Africa performs to its full potential. Through the partnership with MultiChoice, Moment is well positioned to be at the core of this transformation for decades to come.

Reforms and Fiscal Gains Signal Nigeria’s Economic Recovery – Wale Edun

Reforms and Fiscal Gains Signal Nigeria’s Economic Recovery – Wale Edun

 

Nigeria’s economy is making significant strides towards recovery and growth, according to the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. The Minister made this statement today in Abuja during the 2025 budget defence before the Senate Committee on Finance.

Accompanied by the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, the Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya, the Accountant General of the Federation, Dr. Oluwatoyin Sakirat Madein, and other Ministry Directors, Mr. Edun outlined the President Bola Ahmed Tinubu-led administration’s efforts to stabilize Nigeria’s economy through a series of key reforms and fiscal measures.

HM Edun highlighted several significant reforms, including the liberalization of the foreign exchange market, the deregulation of petroleum pricing, and the expansion of domestic refining capacity. These initiatives, he explained, are driving fiscal stability, reducing inefficiencies, and establishing a more sustainable economic framework for the country.

While acknowledging that some of these reforms may lead to short-term discomfort, the Minister emphasized their long-term benefits, which include job creation, poverty reduction, and enhanced economic resilience. He further stressed the government’s commitment to infrastructure development, particularly in digital networks and energy, which will serve to improve productivity and attract private sector investments.

The Senate Committee on Finance approved the Ministry’s ₦38 billion 2025 budget and commended the Ministry’s leadership for its unwavering commitment to fiscal discipline and economic recovery. HM Edun expressed confidence in Nigeria’s brighter economic future, noting that these reforms will transform the country’s economic landscape and ultimately improve the standard of living for its citizens.

National Data Protection Commission Kicks Off Training for First Cohort of Data Protection Officers

National Data Protection Commission Kicks Off Training for First Cohort of Data Protection Officers

 

The National Data Protection Commission (NDPC) has commenced training for the first cohort of 200 participants in its National Certification Process for Data Protection Officers (DPOs). With 100 participants trained in Abuja and 100 in Lagos, the program aims to equip individuals with the skills necessary to meet the growing demand for data protection expertise.

At the Abuja center, the National Commissioner/CEO of the NDPC, Dr. Vincent Olatunji, addressed the participants, offering words of encouragement and highlighting the significance of the certification. He emphasized that being selected for this program is a privilege, as data protection is a rare and in-demand skill globally. Dr. Olatunji further noted that the training positions the participants as highly employable professionals within the currently understaffed data protection and privacy ecosystem.May be an image of 4 people and dais

He also took a moment to commend the facilitators for their exceptional work in preparing the participants, acknowledging their dedication to delivering a high-quality training experience. Dr. Olatunji encouraged the trainees to stay focused and committed to their studies as they prepare for the upcoming examinations, wishing them success as they embark on this career-defining journey.

The NDPC’s program will continue over the coming weeks, with new cohorts of 100 participants undergoing training each week. By the end of the process, all 500 selected participants will have successfully completed the program, further strengthening the data protection workforce in Nigeria.

NIMC Launches Improved General Multi-Purpose e-ID Card to Enhance Social and Economic Inclusion

NIMC Launches Improved General Multi-Purpose e-ID Card to Enhance Social and Economic Inclusion

 

The National Identity Management Commission (NIMC), under the leadership of its Director General/CEO, Engr. Abisoye Coker-Odusote, has unveiled the improved General Multi-Purpose e-ID (GMPC) card in a bid to bolster social and economic inclusion across Nigeria.

At a media briefing held today in Abuja, Engr. Coker-Odusote highlighted the key features and objectives of the upgraded card, which offers multiple functionalities designed to support various federal government intervention programs. These programs aim to empower Nigerians by providing seamless access to financial services, government initiatives, and other critical support systems.

According to NIMC, the improved GMPC is embedded with payment functionalities that allow users to conduct financial transactions with ease, thereby enhancing financial inclusion for millions of Nigerians, particularly those in underserved and rural areas. The card also serves as a robust identification tool, linking individuals to essential government services such as healthcare, social welfare programs, and economic initiatives.

“The introduction of the enhanced General Multi-Purpose e-ID card marks a significant milestone in our commitment to providing Nigerians with a secure and functional identity management system,” said Engr. Coker-Odusote. “With the integration of payment capabilities, this card goes beyond identification; it empowers citizens by facilitating access to financial services and government interventions in a more efficient and transparent manner.”

The GMPC card aligns with the federal government’s efforts to create a more inclusive economy by ensuring that individuals, especially those without access to traditional banking services, can participate fully in the financial ecosystem. It is expected to play a pivotal role in poverty alleviation programs, financial aid distribution, and other social welfare initiatives aimed at improving the standard of living for Nigerians.

NIMC further reassured Nigerians of the security features embedded in the GMPC, emphasizing that it adheres to global standards in data protection and privacy. The Commission urged all citizens to enroll and take advantage of the new card to enjoy its numerous benefits.

The rollout of the improved GMPC card will commence in phases, with priority given to beneficiaries of government intervention programs. Nigerians can apply for the card through designated NIMC enrollment centers nationwide.

For further information, citizens are encouraged to visit the NIMC website at www.nimc.gov.ng or contact the Commission through its official channels.

 

NITDA Concludes Top Management Retreat with Renewed Commitment to 2025 Goals

NITDA Concludes Top Management Retreat with Renewed Commitment to 2025 Goals

 

The National Information Technology Development Agency (NITDA) has successfully concluded its top management retreat, marking a significant step toward achieving its strategic objectives for 2025. The final day of the retreat featured detailed departmental presentations and the signing of a collective bond, symbolizing the agency’s united commitment to driving Nigeria’s digital transformation.

Held as part of NITDA’s efforts to align with national development priorities, the retreat provided an opportunity for key stakeholders within the agency to review progress, identify challenges, and strategize on the way forward. The Director General of NITDA, Kashifu Inuwa Abdullahi, played a pivotal role in steering discussions, emphasizing the importance of innovation, collaboration, and strategic alignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda. The agenda prioritizes the use of technology as a critical driver for economic growth, job creation, and national development.

In his address, Inuwa underscored the need for actionable strategies to tackle existing challenges within the ICT sector, stressing the importance of risk management, process optimization, and leveraging partnerships to achieve departmental goals. He called on the agency’s leadership to remain proactive in implementing policies that will facilitate a thriving digital economy in Nigeria.

Throughout the retreat, department heads presented their roadmaps, highlighting ongoing initiatives and future plans aimed at enhancing NITDA’s service delivery. Key focus areas included digital inclusion, cybersecurity, capacity building, and regulatory compliance to ensure a safe and inclusive digital environment for all Nigerians.

The retreat culminated in the signing of a collective bond, reinforcing NITDA’s leadership’s shared vision and commitment to excellence. This symbolic gesture represents a pledge by the agency’s management to work collaboratively towards the realization of the 2025 goals, which are centered on fostering digital literacy, supporting tech startups, and enhancing the ICT infrastructure across the country.

As NITDA moves forward, the outcomes of the retreat are expected to guide its strategic interventions, ensuring that Nigeria remains at the forefront of technological innovation and digital governance in Africa. The agency’s leadership expressed optimism about the future, vowing to implement the insights gained from the retreat to achieve measurable impact in the tech ecosystem.

The retreat’s conclusion marks a renewed sense of purpose and determination within NITDA, as it continues to champion policies and programs that will accelerate Nigeria’s journey towards a digitally empowered economy.