‘Technology is key to diversification of Nigeria economy’

“We are quite satisfied with the outcome of the conversations that took place, considering the challenge the Nigeria economy is currently facing due to fall in global oil prices, exchange rate collapse, and uncertainty surrounding the elections. This is compounded by the fact that Nigeria is largely an import-based and a mono-product economy”, says Adanma […]

“We are quite satisfied with the outcome of the conversations that took place, considering the challenge the Nigeria economy is currently facing due to fall in global oil prices, exchange rate collapse, and uncertainty surrounding the elections. This is compounded by the fact that Nigeria is largely an import-based and a mono-product economy”, says Adanma Onuegbu, CEO Signal Alliance.
The experts agreed that all stakeholders should work together to do the following: build an ecosystems that will support start-ups from setting up  investment  institutions from seed funding to technology backed private equity,  and promoting incubators and accelerators; deepening government structures that supports indigenous technology  like the Federal Ministry of Communication Technology, NITDA, SMEDAN, etc; encourage consumption of local technology through strict implementation of the local content law; and standardization of local technology products to enable them compete internationally.