FG plans ICT Dev Bank to boost tech funding

The Federal Government has restated its commitment in setting up an Information and Communication Technology (ICT) Development Bank to boost technology funding.

The Minister of Communications, Barr. Adebayo Shittu gave this assurance in Lagos at the 3rd Edition of Indo-Africa ICT Expo which was held for the first time in Nigeria,

adding that the bank will assist in providing the needed funding for the ICT industry instead of depending on commercial banks which charges high interest rate.

Shittu said government recognize research as a key component in stimulating sustainable ICT growth, adding “In this direction, the Ministry in pursuance of its mandate of leveraging ICT in its entire ramifications

and in order to promote local manpower of the ICT sector, is establishing a proposed ICT University of Nigeria with specialized programme on ICT across the six geopolitical zones in the country.”

According to him, the Ministry has reached out to a number of ICT companies locally and internationally for the Public, Private Partnership (PPP) management of the proposed ICT University, while many have and still counting who have expressed enthusiasm towards investing in the project.

The Ministry, he said has reached an advance stage for the establishment of a befitting ICT Park and Exhibition center in Abuja, stressing that “This is to develop Nigeria’s ICT sector towards achieving a Smart Digital Nigeria.”