‘Technology is key to diversification of Nigerian economy’

Experts have identified technology as one of the critical components in the diversification of the Nigerian economy. They reached this consensus in Lagos at the Signal Alliance Customer Week Workshop organised  in conjunction with Cisco.

“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,” said Adanma Onuegbu, chief executive officer at Signal Alliance.

The experts agreed that all stakeholders should work together to build an ecosystems that will support start-ups. This can be achieved by setting up  investment  institutions from seed funding to technology backed private equity, and promoting incubators and accelerators.

Experts also called for the deepening of government structures that support indigenous technology  like the Federal Ministry of Communication Technology, NITDA, SMEDAN, etc. According to them, there is need to encourage consumption of local technology through strict implementation of the local content law. Experts also pointed out that standardisation of local technology products to enable them compete internationally.

The workshop theme was; ‘Diversification & Innovation: A technology roadmap to grow Nigeria economy’. In attendance were business leaders in the public and private sectors, technology leaders & entrepreneurs, and media.

Chinenye Mba-Uzoukwu, managing director, Infographics, moderated the conversations panellists that include: Gerald Ilukwe, founding MD, Galaxy Backbone & former GM, Microsoft Nigeria; Richard Amafonye, CIO Skye Bank; Kachi Onubogu, executive director, commercial, Promasidor; Yemi Keri, managing director, Edo State Information Communication Technology Agency; Victor Okigbo, head, IDEA Hub and Chris Uwaje, former president ISPON – represented by Pius Eke Jnr.

The workshop is one of the major activities of the annual Signal Alliance Customer Week that also includes customer visitation across the country, corporate social responsibility programmes in Lagos and Abuja, and customer appreciation event.