October 16, 2019

Economic Growth: FG partners US to attract FDI to digital Tec hubs

P&ID, Nigeria, China

By Naomi Uzor


The Federal Government has disclosed that the United States of America, USA, and other key foreign allies hold the ace to deepening technology ecosystem in Nigeria, in order to create a long-lasting technological innovation and economic growth.

Disclosing this at a breakfast meeting of the US Nigeria Council, USNC, for Food Security, Trade and Investment on the margins of the the just concluded 74th United Nations General Assembly,  UNGA,  in New York City, USA,   the Minister of Industry, Trade and Investment, Otunba   Adeniyi Adebayo, said technology hubs are critical to the country’s economic growth in order to enable start-ups companies to flourish.


He charged foreign investors to explore and strengthen the country’s Information Communication and Technology ,ICT, sector in a bid to build a strong digital economy.

Adebayo assured 40 key members of the USNC that the present administration under President Muhammadu Buhari is committed to creating an enabling environment that will allow technology start-ups companies to flourish in the country.

We must match UAE in technological advancement ―Pantami(Opens in a new browser tab)

He noted that government is doing its best, disclosing that it has been launching different technology hubs in the country to achieve digital economy, adding that,   resources play a critical role in achieving a digital economy and technology driven based nation.

“We must create the governmental environment that will help these technology start-ups flourish. The government is helping to launch several technology hubs and it’s important we put more resources into this” he said.

Chairman of the USNC, Ambassador (ret.) Terence McCulley, said the focus of the breakfast meeting was on strengthening Nigeria’s digital economy by allowing US investors targeting the Nigerian market to invest in the country’s ICT and start-ups sector in order to further boost her economy.

According to him, Nigeria’s digital and ICT sector need foreign investment to grow and attain a technology driven based economy.

He said, “Foreign investment is vital to building the technology ecosystem in Nigeria.”