Investors from across the world have been called upon to invest in Nigerian businesses especially in the Information Communications and Technology sector.
The Nigerian government minister of Commutations Dr. Isa Pantami who made the call on behalf of the government, during the African Investment Forum-(AIF) at the gulf Information Technology Exhibition,GITEX, in Dubai, UAE, said that Nigeria has the enabling environment and human resources for businesses to grow . He said that investors have a lot to gain from the country.
Dr. Pantami also stated that , Nigeria has a broad policy that ensures investors have a level playing ground.
“As investors invest in the ICT sector they can be guaranteed of an equitable return on investment.
Our regulatory approach is one that develops the ICT sector, rather than stifles it. Nigerians are very friendly people and our business environment is conducive.
We have a number of incentives for investors in the development of our digital economy”. Pamtami said.
The Minister also said the country was currently implementing an E-government Master plan to ensure that government services are seamlessly accessed online.
He said “Digitisation of services is not restricted to the public sector alone as we are also encouraging educational institutions and the private sector to digitise their service delivery and this is yielding results.
Investors can also access government services, such services include company registration, land management, eEducation and eHealth. We are also deploying technology to improve the efficiency of the postal system and enhance the ability of subscribers to track items posted“.
The Minister noted that even as the digital economy has its advantages, it also has its disadvantages.
“ We are strengthening our resolve to keep Nigerians and our investors safe online. One of our strategies is to ensure that there is a proper digital identity for all those that transact in the digital economy.
We have also invested in the development of embedded hardware platforms for the design and deployment of emerging technology solutions.
Nigerians have a pedigree for innovation and diligence and we invite investors to take advantage of this opportunity.
Companies investing in these sectors receive tax holidays for three to five years. Some of the sectors include E-commerce services, Business Process Outsourcing and Software development and publishing. You are invited to invest in the sectors”. Pantami added.
On his part, the Director of National Information Technology Development in Nigeria, NITDA, Kashifu Inuwa said that with a thriving ICT sector, innovative youthful population, as well as a business-friendly environment, the Nigerian ICT sector is an investor’s haven.
“The youthfulness of our population is an asset and the fact that many young Nigerians are ICT enthusiasts even makes it better.
Investors can be assured of accessing a large pool of youthful and skilful employees at a fair-price, more cost-effective that engaging employees in other parts of the world”. Innuwa said.
He also said that “A ready pool of young “digital natives” awaits investors in our ICT sector. With a population having an average age of 18.2 years, Nigeria is the 22nd youngest country on earth.
To show the quality of Nigeria’s talent, the technology ecosystem raised $178 million USD in 166 deals in 2018 and the figures are rising in 2019.
The country had the highest investment in Africa. We therefore invite you, our potential investors, to take advantage of this massive talent pool as you invest in Nigeria.”
Inuwa also said that NITDA has through its regulatory frameworks driven investment growth.
“The Nigeria Data Protection Regulation (NDPR) is the only data protection law in the world that creates a class of professionals called Data Protection Compliance Organisations (DPCO) who are licensed to help over 1.5 million organisations comply with data protection laws.
This regulatory innovation is on the way to creating over 300,000 jobs by 2023. Our local content guidelines also gives an opportunity for investors in indigenous ICT companies to reap the abundant opportunities available in Nigeria.” The DG said.
He added that Nigeria was interested in investors willing to establish world class Original Design Manufacturing (ODM) factories in Nigeria to guarantee quality components for local assembly.
“The Ikeja Computer Village is the largest technology market cluster in West Africa and is estimated to contribute about $2billion to Nigeria’s economy annually.
We currently have just 7 local Original Equipment Manufacturers (OEMs) who can barely even meet 20% of the local demand for computer hardware by government alone, not to talk of the entire country.” Inuwa explained.