By Etop Ekanem

Public sector technology expert, Olatunbosun Alake, has called for increased education funding, noting that it is a key driver for building a robust and sustainable technology system in Nigeria.

Disclosing this in a media statement recently, he asserts that increased education investment is the foundation for innovation and a strong technology system.

Alake explained that building a truly effective innovation system requires more than recreating existing models; it depends on the ability to consistently generate unique solutions, products, and services that drive economic growth.

According to him, “A robust science and technology ecosystem that not only depends on conventional recreations of already established models, but is capable of consistently creating unique solutions, products, and services that drive economic growth; is a pillar of modern economies across the globe.”

He emphasized in his statement that while Nigeria’s technology ecosystem has produced many innovative companies in sectors like fintech, education technology, and agritech, much of their value creation still depends on foundational technologies such as cloud computing and advanced chip designs that were developed in other countries.

“These core technical innovations are foundational and are the picks and shovels of the gold rush of cloud computing. With every innovation created in a sector, they reap value,” Alake noted.

Highlighting the risks of dependency, he cautioned that many of the systems powering Nigeria’s technology growth are owned and managed abroad, making the country’s digital progress vulnerable.

“The danger is that these taps can be turned off at any time leaving many so-called technology ecosystems facing an existential crisis,” he warned.

Alake stressed in the statement that education remains central to addressing these gaps and building a self-sustaining system.

He pointed to the steady decline in Nigeria’s federal budget allocation to education, which fell from 7.9% in 2016 to 5.6% in 2021. In contrast, Germany, with a similar federal structure, allocated over 11% in 2018, while South Africa devoted between 15–20% in 2021.

“It is a foregone conclusion that the Government must increase spending on education. This by far is one of the most important determinants of a robust innovation and technology system,” he said.

While acknowledging the role of government, Alake further added that public spending alone will not suffice.

He urged private sector stakeholders to actively complement government efforts through investments in skills development and training.

“For tectonic movements in education output, spending by the Government must be significantly complemented by investments in skills and training by the private sector,” he concluded.

Alake is a seasoned public sector technology and digital specialist with extensive expertise in driving innovation and shaping strategies for sustainable technology growth.