A glimmer of hope it may seem for Nigeria and its high rate of unemployment, as about 40 million new job opportunities are soon to be created for youths in the Nigerian information and communications technology (ICT) industry. This is as a result of the federal government’s recent talks with Chinese investors, aiming to attract about $15 billion USD additional investments into the industry for further diversification.
This was disclosed at a two-day Nigerian Communications sector retreat which ended at the weekend in Ibadan, Oyo State by the minister of Communications, Adebayo Shittu.
I just led an industry delegation to China and after discussions with the investment community and unveiling investment potential in the Nigerian ICT industry, the Chinese investors have decided to come to Nigeria to invest about $15 billion into our ICT sector.
“It is precisely the belief in and continuous application of a liberalized market policy that has produced the explosive but uneven growth in the sector so far.
The minister mentioned that the ICT retreat is a key element for inclusive as well as progressive diversification and development of Nigeria’s economy.
Just last week, Shittu had returned from two international conferences on space technology in Belarus and China where he marketed Nigeria’s cyberspace and telecommunications sector potential to foreign investors, which also happened to coincide with the award of a Carrier Spectrum Management (CSM) contract to one of the agencies in the ministry, Nigeria Communications Satellite Limited (NigComSat), by the Republic of Belarus.
At the retreat were lawmakers from the communications committees of both the House of Representatives and Senate as well as telecommunication operators, industry associations, original equipment manufacturers (OEMs), small and medium businesses (SMBs), chief executives of the five agencies under the ministry, other industry participants as well as the governor of Oyo State, Abiola Ajumobi in attendance.