Minister advocates ties with India to develop technology-based solutions

The Minister of Communication, Barrister Adebayo Shittu has advocated Nigerian businesses to tap into the reservoir of knowledge among their Indian counterparts to develop technology based solutions for the Nigerian, African and even the global market.

The Minister stated this in his address during the 3rd Indo-Africa ICT Expo 2017 holding in Lagos, Tuesday, adding that the Government recognizes ICTs as one of the key drivers of the economy;

hence ICT has been factored in all national long-term development blue-prints that aim at transforming Nigeria into a knowledge economy by 2020.

“We have developed a National ICT strategic Roadmap whose aim is to provide a systematic approach to harnessing the power of ICTs across all sectors of the economy.

“Our commitment towards ICT innovations has made Nigeria well known in the tech space. Today, we have over 145 million mobile subscribers, representing a penetration of 85.5 per cent while Internet penetration rate stands at about 70 per cent.

“Nigeria is the fastest growing ICT markets in Africa and in the worldwide. This is attributable to the improving conducive business environment and younger and more affluent population – all of which are strong indicators of not only a source of capital,

but of job creation, skills development, technology transfer, infrastructure development, responsible governance and sustained growth with long-term diversification and transformation of Africa economies.

“I am pleased that India is keen to establish linkages with us here in Nigeria and Africa at large to build a relationship that will go a long way in promoting trade.

I am sure this conference will explore areas in which the two regions can collaborate for the mutual benefits of their citizens.

I have no doubt that India has proven its capabilities in the ICT sector and is acknowledged as a preferred destination for services and outsourced Research and Development.

Given the large domestic demand for telecom equipment in India, Indian companies are now using Innovation, Research and Development to create world class products for India as well as for other emerging markets having similar needs like Africa,” the minister said.

Shittu said the Ministry is also thinking of promoting the establishment of an ICT Development Bank to assist in providing the needed funding for the ICT industry instead of depending on commercial banks which charges high interest rate.

He added that there are numerous opportunities for partnerships between both public and private sector of the two countries and urged Indian investors to explore areas to further enhance the lives of our people through technology.

“Technology entrepreneurs seeking for high Returns on Investments (RoIs) have Nigeria as a strong ally.

The business environment in Nigeria is favourable. The current administration recently formed a presidential commission to significantly improve our Ease of Doing Business ranking.

Nigeria remains the major investment destination in Africa for investors because of the country’s huge market and abundant resources,” he enthused.