NITDA boss woos German investors to invest in Nigeria’s tech ecosystem

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WorldStage Newsonline– Mr Kashifu Inuwa, Director-General of the National Information Technology Development Agency (NITDA), has called on investors in Germany to invest in Nigeria’s tech. ecosystem, saying that it is highly valued.

Inuwa made the call on Tuesday in a statement issued by Mrs Hadiza Umar, Head, Corporate Affairs and External Relations of NITDA.

Inuwa made the call while speaking at a meeting with Ludwig von Bayern, Chief Executive of Startup Lions and a Social Entrepreneur, development aid specialist for digital opportunities in Africa’s remote regions.

Umar quoted Inuwa as stating that investing in Nigeria’s tech. ecosystem comes with many rewards.

The D-G spoke on the topic “The Evolution of the Nigeria Tech Ecosystem.”

He said that Nigeria provides opportunities for entrepreneurs to quickly and conveniently start and grow businesses.

“The future of Nigeria is much more promising than today due to the four comparative advantages the nation has over other countries of the world.

“Our large population with an emerging economic status positions us at a pole-length as a suitable investment destination in Africa.

“Africa is a continent with 54 countries and 1.4 billion people with 2.9 trillion Gross Domestic Product(GDP).

“Nigeria alone has 15 per cent of the population and the GDP, so investing in Nigeria is like investing in Africa,” Inuwa said.

He further said that Nigeria’s economy was emerging because, ”it attracts 30 per cent of the continent’s Foreign Direct Investment (FDI),with more than $2billion in the past year.

”The level of support the government now gives to the tech ecosystem is unparalleled in the history of the country.

“There are so many interventions in terms of policies, laws and infrastructure to help businesses to grow.

“In 2019, President Muhammadu Buhari expanded the mandates of our ministry to cover the digital economy because he realised that  communication is not the end but a means to an end.

 “The end is how we can use technology for economic prosperity.”

Inuwa recalled the passage of the Nigerian Startup Act, the Executive Order on Ease of Doing Business,including other incentives like Visa on Arrival and Business Incorporation under 24 hours.

He said: ”All these were aimed at transforming the digital ecosystem of the country. Nigeria has a  youthful and talented population which is unique.

”Nigeria has high potential for social and economic impacts and investing in the country would help the country solve its mirage of challenges.

“We have so many challenges that need innovative ways of solution,we have challenges around healthcare, financial inclusion, education, transportation and logistics.  “We should bear in mind that IT or technology can provide faster solutions for us to solve all these problems.”