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Nigeria’s digital economy to generate $88bn by 2021

Okechukwu Enelamah, Minister of Industry, Trade and Investment

By Prince Okafor

THERE are indications that investments in digital economy will generate $88 billion and create three million jobs for Nigerians before the end of 2021.

Consequently, the minister of Industry, Trade and Investment, Mr Okey Enelamah, who spoke at the “Invest In Nigeria” Summit, Silicon Valley, California, USA, stated that the Federal  Government is resolute on creating an enabling environment for operators.

According to him, “The technology sector has recorded some good strides – more than doubling in size over the past nine years, now accounting for 9 percent of our Gross Domestic Product, GDP.

“From the $20m fundraise in Andela, to $10m fundraise in Flutterwave, to the $7m in SureRemit via a blockchain ICO, $1.1m in Piggybank. There are easily scores of these today and counting.

“Today we have brought you some of our best: from the government, from the private sector, technology companies, local finance, policy makers. I hope this leaves no doubt as to our commitment to establishing a winning partnership with you in Nigeria’s technology ecosystem.”

He stated, “The Nigerian delegation, led by the Vice President, Yemi Osinbajo, included senior government officials, regulators, companies leading the charge of innovation in Nigeria and some leading technology talents.

“The primary purpose of the visit is towards attracting investments into Nigeria’s burgeoning tech space. It follows the Vice President’s inauguration last month of the Advisory Group on Technology and Creativity, established by President Muhammadu Buhari as part of an effort to boost industrial policies and competitiveness for the country.

“The committee has a good number of private sector members with roots in one technology operations or the other. As our source would reveal, the Vice President’s entourage comprises a number of tech-savvy entrepreneurs from that advisory board.”

 

 


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