By Olasunkanmi Akoni

An expert in the Information Technology sector, Mr Sheriff Oladejo, has said that inadequate infrastructure, limited access to reliable electricity and regulatory hurdles are major challenges against the full deployment of digital technology and innovation in Nigeria.

Oladejo, who is the Managing Director of an IT firm, TechEnd, remarked in a statement made available to newsmen in Lagos.

The executive, however, stressed the need for the Federal Government to increase its contributions to the growth of the sector.

Oladejo said that the government needed to provide a more enabling environment and reduce operational regulation hurdles in the sector.

According to him, “These challenges can impact the deployment and sustainability of information technology projects.

“We are hoping that regulations will open up opportunities for government and business communities to embrace local software developers to compete favourably within various economic sectors.’’

He encouraged the government to provide adequate funds, provide an enabling environment and regulations and encourage more investments to support the growth and expansion of the sector.

Oladejo stressed that Nigeria has a vibrant start-up ecosystem, majorly with a focus on digital technology and innovation.

He noted that Lagos, in particular, was often referred to as “Silicon Lagoon” due to its concentration on tech innovations and startups.

He said that the current minister of communication and digital economy was among the tech startups in Nigeria, so understood the need for the sector to move forward.

“E-commerce and Fintech have shown significant expansions and growth, with many of the entities offering digital payment platforms, online shopping, and financial services tailored to the Nigeria market.

“These have played an important role in the growth and improvement of financial inclusion in Nigeria.

“Another item that also gained attraction within the digital technology sector is the development of mobile apps. This has become a powerful advancement to support digital technology advancement and bring about ease of doing business on the go,’’ Oladejo said.

He noted further that many organisations had embraced digital transformation, and Nigerian businesses and government institutions were undertaking digital transformation initiatives to enhance their productivity and efficiency.

Some of the initiatives that businesses are adopting, he said, include: cloud computing, big data analytics, and other modern technologies to improve efficiency and productivity.

The TechEnd co-founder added that Nigerian youths had also shown themselves to be major drivers of digital transformation in the country.

“The youthful generation is increasingly tech-savvy and this has contributed to the expansion of the technology industry,’’ he said.

Oladejo said that though the growth being witnessed in the sector and most of the revenues were commendable, they were quickly eroded by high operational costs and other physical facilities.

He said that TechEnd had evolved in various aspects of technology including software development, IT consulting, training and capacity development, and many more.