English | 简体中文 | 繁體中文 | 한국어 | 日本語
Saturday, 4 February 2023, 03:30 HKT/SGT

Source: NITDA, Federal Govt of Nigeria
Investment is Valued and Rewarded in Nigeria says NITDA DG Kashifu Inuwa

ABUJA, NG, Feb 4, 2023 - (ACN Newswire) - The Director General, NITDA (National Information Technology Development Agency), Kashifu Inuwa has called on international investors to invest in the Nigerian tech ecosystem because doing so is valued and comes with many rewards. Speaking on the "Evolution of the Nigerian Tech Ecosystem" to the Ludwig von Bayern Startup Lions, Inuwa said there are four comparative advantages you won't find anywhere but in Nigeria.

Firstly, Inuwa suggested that Nigeria's large population and its emerging economic status positioned as a suitable investment destination in Africa. "Nigeria alone has 15% of the population and the GDP, so investing in Nigeria is like investing in Africa. Moreover, it is emerging because if you look at the tech-ecosystem, Nigeria attracts 30% of African FDI. Last year alone, the country attracted more than USD 2 billion."

Secondly, Inuwa suggested that the level of support the government now gives to the tech ecosystem is unparalleled in the history of the country. He said the government has been supporting innovation and startup. There are many interventions in terms of policies, laws and infrastructure to help businesses to grow.

"In 2019, the President expanded the mandates of our ministry to cover digital economy. Before, it was just ministry of Communications but realizing that communication is not an end, but a means to an end, while the end is how we can use technology for economic prosperity."

He recalled the Nigerian Startup Act, the Executive Order on the Ease of Doing Business, which includes incentives like visa on arrival and business incorporation under 24 hours, each aimed at transforming the economy.

"Thirdly, we have youthful and talented population which you won't find elsewhere in the world. While the developed countries are suffering from aging population, we have one of the youngest populations in the world," he observed.

"Finally, any investment has high potential for social and economic impacts, and helps the country solve its many challenges. We have challenges that require innovative solutions; we have challenges around healthcare, financial inclusion, education, transportation, and logistics. And you all know: IT or technology can provide faster solutions for us to solve all these problems.

"So, come to Nigeria and invest. You will easily feel our comparative advantages," concluded Inuwa.

While urging investors to look the way of Nigeria, Inuwa invited them to grace the Africa Tech Conference that comes up in July 2023.

NITDA, National Information Technology Development Agency, NIGERIA.
More information: https://nitda.gov.ng, Mail to: info@nitda.gov.ng.

Topic: Investment
Source: NITDA, Federal Govt of Nigeria

Sectors: Telecoms, 5G, Cloud & Enterprise, Blockchain Technology, Digitalization, Government, Startups
From the Asia Corporate News Network

Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


NITDA, Federal Govt of Nigeria Related News
Oct 31, 2022 22:00 HKT/SGT
Digital Nigeria 2022: NITDA Director General tasks Tech Innovators with Problem Solving
Oct 28, 2022 16:00 HKT/SGT
Digital Nigeria 2022: Blockchain Adoption Can Increase Nigeria's GNP, If...
Oct 27, 2022 20:00 HKT/SGT
FG Stops Importation of Digital Technology Products, Services, as Nigeria Intends to be Global Talent Supplier: Day#1, Digital Nigeria 2022
Oct 26, 2022 21:00 HKT/SGT
Nigerian FG to Stop Importing Digital Products and Services says Digital Economy Minister
Oct 1, 2022 02:00 HKT/SGT
NITDA to host Blockchain Day at Digital Nigeria 2022
More news >>
Copyright © 2024 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575