Minister highlights Nigeria’s dominance with 20% of 2022 African tech investment, focus is on knowledge, policy, infrastructure, innovation, entrepreneurship capital, and trade.
Nigeria’s Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, underscored Nigeria’s growing significance as a technology startup capital in Africa. Amid the global shift towards digital innovation, Nigeria captures a substantial portion of the investment, signifying its potential for robust economic growth, according to Tijani. Tijani made the remarks at the Digital Nigeria International Conference.
Nigeria’s tech ascendancy: Attracting startup capital
In the realm of technology and innovation, Nigeria is swiftly asserting its prominence as the top destination for startup capital in Africa. Dr. Tijani revealed that out of the approximately USD 5 billion invested in technology startups across the continent in 2022, Nigeria secured a remarkable 20% of this total investment.
Progressive attitude: Key to Nigeria’s success
Dr. Tijani emphasized that the dynamism of technology requires a forward-thinking approach. Countries that prioritize innovation and adopt new methods are the ones that reap the most substantial rewards. To this end, his administration introduced a strategic agenda with a primary focus on knowledge, policy, infrastructure, innovation, entrepreneurship capital, and trade.
“The Nigerian government has always been one that is open to collaboration, but also input from the private sector. There are hardly any policy committees that the government set up today that are not fully formed with the consent or participation of the private sector. So let’s not leave it to just the government to find innovative ways to lift our economy forward with digital technologies. But let’s recognize the fact that our collective responsibility and investment got us to this point,” he said.
Digital transformation: A path to prosperity
Kashifu Inuwa Abdullahi, the Director General of the National Information Technology Development Agency (NITDA), expressed a vision of using digital technology to stimulate job creation, drive inclusive economic growth, and pave the way for a prosperous digital economy in Nigeria. He highlighted that digitally transformed enterprises contributed significantly to the global GDP and urged a collective effort to harness digital technology for a brighter, more prosperous future for Nigeria.
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