Nigeria’s ICT Sector Remains Undertapped, Says Expert

Omolabake Fasogbon

Accounting for nearly 20 percent of Nigeria’s real Gross Domestic Product (GDP), the Information and Communications Technology (ICT) is poised to propel the country into unprecedented wealth and sustainable prosperity. 

Chief Executive Officer, Quomdo Systems Africa, Oluwole Asalu, highlighted the possibility of the local sector dictating global ICT trends. He, however, submitted that lingering inefficiencies within the environment were hindering the sector’s potential. 

He maintained that Nigeria’s vibrant youth population, along with its entrepreneurial spirit were key indicators of the country’s capability to lead in global technological solutions. 

“The journey towards realising this tech potential is still fraught with obstacles that are not limited to infrastructure gaps hindering effective connectivity and accessibility to digital resources. Without a robust system in place, efforts to foster technological innovation may stall, preventing the sector from reaching its full capacity.

“In addition to infrastructure concerns, regulatory hurdles pose a significant barrier to growth. The need for a streamlined and supportive regulatory environment is crucial for nurturing innovation and attracting necessary investments. Policymakers must work collaboratively with the industry to create frameworks that encourage growth rather than stifle it,” he added.

Asalu emphasised the need for concerted efforts from key stakeholders, including government, private sectors, and educational institutions to be able to foster a supportive environment for innovation.

“Success in driving Nigeria’s ICT growth will ultimately depend on collaboration and commitment. By prioritising infrastructure development, regulatory reform, and educational initiatives, stakeholders can unlock the full potential of Nigeria’s tech industry. Such a unified approach is paramount in transforming challenges into opportunities,” he stated. 

Additionally, he urged targeted investments in education and training to be able to build the workforce required for future demands.