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


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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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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