[SPECIAL REPORT]
T
he application of Information and Communication
Technology (ICT) in the different sectors of
the economy is radically changing the pace of
development in Nigeria. The government has focused
on effective e-governance through key initiatives such
as connected government, informed citizenry, and open
data. As per reports from the Press Unit of the Federal
Ministry of Communication, Nigeria, the 2017-2020 ICT
Roadmap highlights the public-private partnership to attract
investments in high-quality infrastructural facilities and
services. According to Dr. Adebayo Shittu, Minister of
Communication, the roadmap enables job creation, capacity
building for sustainability, and improvement in government
revenue generation.
sets, library resources, and there is an eff ective collaboration
among researchers.
Investment Potential
Nigeria is keen on strengthening its ties with India for
foreign direct investment (FDI) in the tech sector. Minister
of Communications, Dr. Adebayo Shittu at the 4th edition of
the Indo-Africa ICT Expo 2018 in Lagos emphasised that his
government is looking forward to creating an environment
for businesses to thrive, and even assured Indian investors
that Nigeria has one of the highest return on investment (RoI)
potential. FDIs into the country’s ICT sector is currently
estimated at $70 billion.
Emerging Trends
Being one of the fastest growing sectors in Nigeria,
the ICT sector is trending towards: adoption of Internet of
Things (IoT) largely by corporates and individuals; use of
artifi cial intelligence by many startups to solve real and
complex challenges; popularity of voice search technique;
cloud computing and storage to make businesses more cost-
eff ective and effi cient; blockchain and bitcoin application in
many industries, specially Fintech; and adoption of Enterprise
Mobility to provide better productivity and improved security.
Impact on Economy
National Development Plan – Nigeria’s Vision 2020,
recognises ITC as a catalyst for sustainable socio-economic
development. Over the years, the telecommunication industry
has been instrumental in generating jobs for millions. Due to
the recent technological innovation, Nigeria’s digital mobile
network and internet connectivity have expanded rapidly,
resulting in a fast-growing subscriber base. There is a growing
demand for iPads, iPhones, and Notebooks among Nigerian
consumers.
Besides, studies from other sectors show operations have
become more eff ective with better networking, especially
in service industries like fi nance, insurance, real estate to
mention a few. Similarly, due to ICT penetration in the
education sector, students are now getting better access to data
“The expo is well timed and would prove to be a milestone
in the history of partnerships between India and Nigeria which
will further promote the ecosystem of digital transformation;
and forever change the way of seeing things and doing
business in Nigeria. With the comparative advantages of India
in the technological market, we believe that Nigeria would be
able tap into it. We want them to prioritise the establishment
of their industries in Nigeria,” said Shittu.
.
Sources:
• http://www.commtech.gov.ng
• https://itedgenews.ng/2018/05/23/nigeria-seeks-
strengthen-tech-investment-ties-india/
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