By Emeka Aginam
Nigeria may not attract foreign direct investment (FDI) in the Information Communication and Technology (ICT) sector unless it develops and implements targeted initiatives for identified priority sub-sectors, especially development of local software  promoted through establishment of software innovation venture capital, the Minister of Communication Technology, Mrs. Omobola Johnson has said.

The Minister who spoke at the just concluded Nigerian Economic Summit forum held in Abuja last week told the gathering that the country must, among other things, expand definition of universal access beyond basic voice to include provision of broadband to bring to fore deployment of nation-wide backbone infrastructure, promote and support initiatives that focus on the development of the last-mile and establishment of ICT parks equipped with physical/ service infrastructure, security, proximity and access to skilled human capital.

Communications & Tech Minister, Omobola Johnson

The Minister who attributed low adoption of ICT by individuals and businesses with negative impacts on productivity as Nigeria’s competitive weakness said that there was need to harmonize disparate policies into a single national ICT policy so as to attract investment in the ICT sector. Johnson who has been preaching local capacity building also listed the following conditions to attract investment in the ICT sector:

• Promotion of regulation to increase competiveness in the market and achieve level playing fields in the broad range of sub-sector.

• Promotion of legislation that facilitate/supports the digital economy and information society including cyber security, e-transactions, privacy, intellectual property among others.

• Partner with other MDAs to create incentives for local device production and call center operations.

• Create and implement frameworks to guide the establishment and governance of collaboration and partnerships between Nigeria and countries with developed IT industries.

• Promote/facilitate industry consolidation and industry clustering

• Align federal and state interests regarding taxation and levies on the ICT industry, among others.

It would be recalled that even as  scramble for the Nigerian market continues as a result of existing opportunities, the Minister had earlier  warned that activities of foreign ICT vendors must comply with local regulations to promote healthy competition

The minister who spoke  in Lagos recently  during the Nigerian-India IT CEO high level business summit told more than 20 ICT companies from the National Association of Software and Service Companies, (NASSCOM) of India that Nigeria will not stop foreign companies foreign investors from coming to Nigeria to come and invest in our ICT industry.

She assured that she would use her new assignment to promote foreign direct investment inflows into the country’s ICT industry while stimulating local demand and engendering favorable competition among the indigenous and foreign companies operating in Nigeria.

“Nigeria will not stop foreign companies from coming to Nigeria to invest, but what we would doing is to ensure that the activities of those foreign companies are aligned with our ICT industry while promoting local competition,” she said.