FG: Our ICT policy will protect foreign investors

In a veiled reaction to the condemnation of the N780 billion fine slammed on MTN Nigeria, the federal government has again said it does not want any foreign ICT company to leave its shore because of its policy. The Minister of Communications, Adebayo Shittu, said in Abuja that government’s policy in ICT sector was geared […]

In a veiled reaction to the condemnation of the N780 billion fine slammed on MTN Nigeria, the federal government has again said it does not want any foreign ICT company to leave its shore because of its policy.
The Minister of Communications, Adebayo Shittu, said in Abuja that government’s policy in ICT sector was geared towards encouraging multinationals and foreign investors to come in, not to send them away.
He spoke at a stakeholders’ meeting on the promotion of ICT local content in Nigeria.
He said government would not protect local Original Equipment Manufacturers (OEMs), software developers and local ICT players at the detriment of the foreign companies, adding that it would ensure a conducive level playing field for all to thrive.
Represented by Mrs. Monilola Udor, a director in the ministry, Adebayo said government would, however, encourage partnership because of its inherent benefits. He said: “Yes, there is benefit in partnership. Nigeria is open to multinationals and foreign investors as we actually want to encourage them to come in. What we don’t want is the capital flight.
“At the moment, ICT is the fastest growing industry across the world, and Nigeria is not an exception. But what percentage of this industry is actually localised? How much of the investments in ICT that come in are actually retained in Nigeria?”
He said the only way government could diversify its present economy from oil, create jobs and increase the GDP was to leverage on ICT because it is the enabler for all other sectors.
The acting director-general of the National Information Technology Development Agency (NITDA), Mr. Vincent Olatunji,  said the agency was working towards creating an enabling environment for OEMs through setting standards and certifications of their factories.