DG NITDA Invites German Investors To Explore Nigeria's Technology Ecosystem

The National Information Technology Development Agency's (NITDA) Director-General, Kashifu Inuwa, has urged German investors to fund Nigeria's tech sector, claiming that it is highly appreciated.

Inuwa made the announcement on Tuesday in a statement released by Hadiza Umar, the NITDA's Head of Corporate Affairs and External Relations.

At a meeting with Ludwig von Bayern, the CEO of Startup Lions and a social entrepreneur who specialises in providing development assistance for digital opportunities in rural areas of Africa, Inuwa made the call.

Umar cited Inuwa as saying that there are numerous benefits to investing in Nigeria's ICT sector.

The D-G discussed "The Evolution of the Nigerian Tech Ecosystem" in his speech.

He said that Nigeria offers opportunity for business owners to launch and expand operations in a quick and convenient manner.

“The future of Nigeria is much more promising than today due to the four comparative advantages the nation has over other countries of the world.

“Our large population with an emerging economic status positions us at a pole-length as a suitable investment destination in Africa.

“Africa is a continent with 54 countries and 1.4 billion people with 2.9 trillion Gross Domestic Product(GDP).

“Nigeria alone has 15 per cent of the population and the GDP, so investing in Nigeria is like investing in Africa,” Inuwa said.

"It draws 30% of the continent's Foreign Direct Investment (FDI), with more than $2 billion in the past year, which is why Nigeria's economy is emerging.

"The level of support the government now gives to the tech ecosystem is unparalleled in the history of the country.

“There are so many interventions in terms of policies, laws and infrastructure to help businesses to grow.

“In 2019, President Muhammadu Buhari expanded the mandates of our ministry to cover the digital economy because he realised that  communication is not the end but a means to an end.

“The end is how we can use technology for economic prosperity", he added.

Inuwa recalled the enactment of the Nigerian Startup Act, the Executive Order on Ease of Doing Business, and other incentives like the ability to obtain a visa upon arrival and incorporate a business in less than 24 hours.

"All these were aimed at transforming the digital ecosystem of the country. Nigeria has a  youthful and talented population which is unique.

"Nigeria has high potential for social and economic impacts and investing in the country would help the country solve its mirage of challenges.

“We have so many challenges that need innovative ways of solution,we have challenges around healthcare, financial inclusion, education, transportation and logistics.

“We should bear in mind that IT or technology can provide faster solutions for us to solve all these problems.”