Digital economy to generate $88bn, create 3 million jobs for Nigeria in 3 years
Justice Godfrey Okamgba is Businessamlive Reporter.
You can contact him on justice.okamgba@businessamlive.com with stories and commentary.
Okey Enelamah, Nigeria’s minister of industry, trade and investment, has told the international community that digital economy is projected to generate $88 billion for Nigeria and create up to three million jobs in the next three years.
According to the minister, the Nigerian government is resolute on creating an enabling environment where digital economy opportunities are not just theoretical but a reality.
“That is why we are here,” the minister said at the “Invest in Nigeria” summit in California, USA, a statement from Bisi Daniels, strategy and communications adviser at the ministry said.
Enelamah said the technology sector has recorded some good strides – more than doubling in size over the past nine years – now accounting for nine per cent of the country’s gross domestic product (GDP).
He noted some recent landmark investments in the sector, and said: “From the $20 million fundraise in Andela, to $10 million fundraise in Flutterwave, to the $7 million in SureRemit, via a blockchain ICO, $1.1million 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 added
The Nigerian delegation led by Yemi Osinbajo, the vice president , included senior government officials, regulators, companies leading the charge of innovation in Nigeria and some of our leading technology talents.
The primary purpose of the visit was to attract investments into Nigeria’s tech space. It followed 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.
It could also be recalled that earlier this week, the Vice president had visited Google headquarters in Silicon Valley to discuss with the management on how to drive the digital economy in Nigeria.
The trip was also to showcase to the world the progress and strides in the country’s technology, innovation and creative space by Nigerian start-ups and entertainment industry practitioners.