Nigeria, Finland To Work Together To Expand ICT Sector — Onyeama

Nigeria will work with the Finnish government to develop the Information, Communication, and Technology (ICT) sector in the nation, according to Foreign Affairs Minister Geoffrey Onyeama.

Onyeama shared this information with Finland's Foreign Minister, Pekka Haavisto, at a private meeting on Thursday in New York.

The gathering took place in New York, concurrent with the 77th UN General Assembly.

The minister praised Finland for its ICT prowess and added that it needs to take advantage of Nigeria's emergence as an ICT hub in order to increase its market share in Africa.

He claimed that Nigeria wanted to encourage various forms of investments in the nation.

“Finland is very strong in ICT and we believe that it will be a win-win situation if their companies invest in Nigeria.

“They can produce for the African market and take advantage of the African Continental Free Trade Area,” he said.

According to Onyeama, Nigeria is a prosperous country and a top investment destination with a population of over 200 million, a sizable youth population, and favourable economies of scale.

“There are no fewer than 55 countries in Africa and you cannot set up your businesses in all the countries because some of the markets are very small.

“Nigeria is one-fifth of Africa and a hub with over 200 million people and a youthful population.

“So, you need to set up in a natural market, where you have local scales and level of capacity to produce.

“If you produce in Nigeria, you already have a guaranteed 200 million-plus market.

“If you are producing for such a market, you as well produce for the other 1.2 billion people in the continent,” he said.

Nigeria is one of the nations with one of the highest returns on investments, according to Onyeama.

But he acknowledged that the nation still had room for improvement if it wanted to have the greatest possible relations with Western nations.

“Nigeria is an attractive investment destination for all these countries but we just have to change the narrative.

“There are several things we need to do as a country.

“The ease of doing business has to be addressed to attract investments,” Onyeama said.

Haavisto replied that Finland and Nigeria have long maintained positive relations.

He asserted that it was essential to consider the future and figure out how to foster more cooperation.

Nigeria is one of the most stable countries in Africa, according to the foreign minister of Finland.

Going forward, he hoped that the bilateral relationship with Nigeria will get better.