• Nigerian/African Tech
  • Start Up
  • Internet
    • App
    • Mobile
    • Software
  • Gadgets
  • Money
  • Video
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Events

NITDA Seeks To Invite Foreign Investors To Boost The Country’s Economy

Uloma Mary Omolaiye by Uloma Mary Omolaiye
October 16, 2017
Share on FacebookShare on Twitter

The potentials of young minds have been undermined for a long time, talents go to waste, yet the country is very viable for businesses of all sorts. In fact, it’s a known fact that if a foreign investor wants to try out a new soil for business, Nigeria is the place. No wonder, many enterprises have thrived for years. The rules pertaining to entry and operations are very flexible and the local markets are quite efficient. However, with the instability in exchange rates and insecurity challenges that have permeated the political sector, many investors have taken a walk. In this regard, Dr. Isa Pantami has beckoned on the global community to consider Nigeria a viable economy for investment.

The delegation was led by Director-General of the National Information Technology Development Agency (NITDA), Dr. Isa Pantami at the Gulf Information Technology Exhibition (GITEX) Technology Week in Dubai. In his speech, he reiterated that the country has great potentials for ICT investments. This spurred a positive reaction from investors from the United States of America, India, Germany, and Norway. 

Also On TechBooky

US Communications Regulator To Ban TikTok, Writes To Google, Apple To Yank It Off App Store

Leofied is Wooing African Freelancers With 10% Commission & More

Cybersecurity Skills Survey Highlights Opportunities For Diverse Talents In South Africa

UK Authorities Investigate Fintech Startup Wise’s CEO For Tax Evasion

Egypt’s Health Startup Vezeeta Lays Off 10 Percent Of Workers

The Director-General affirmed that the administrations have created an enabling business atmosphere such as improved amenities, investment promotions and other measures to make investments worthwhile. On the issue of security and protection of lives and properties, he clarified the subject that the problem of insecurity has been tackled significantly and existing investors have been going about their business fairly.

 Although he didn’t explicate the challenges with macroeconomic stability and the general health of the banking system. These issues are aching problems which have worsened in the Buhari-led administration. You will recall that Etisalat, not 9mobile suffered financial bankruptcy due to the instability in exchange rates and the poor state of health of the foreign banking system.

Whatever the case may be, Nigeria remains the most viable, in terms of interest rates and returns on investments. Not only these; it will be a win-win scenario because, obviously, Nigeria’s GDP will experience a significant boost, thereby creating room for stabilizing the country’s economy.

To make investments viable, the country hopes to increase the broadband penetration in Nigeria by 30% in 2018. In retrospect, the country has established a comprehensive National Broadband Plan. Dr. Pantami said:

We see a good potential for growth in the sector and we are creating an environment that can significantly increase the sector’s contribution to the nation’s GDP. As such, this is a good time to invest in our ICT sector and we invite you to partner with us in the season of growth.

Accordingly, there is an office established by NITDA for the sole purpose of ICT innovation and Entrepreneurship which supports talented Nigerians and start-ups in the ICT sector, which have developed immensely at a significant pace. One of such start-ups who has benefitted is Genie Games who ‘won the second position at the keenly contested Start-up movement competition at GITEX 2016’.

Another champ who also brought pride to the country is the Nigerian-born entrepreneur who sold HopStop, an online city transit App to apple for $1b. Also, Mark Zuckerberg, Facebook boss, visited Nigeria last year the ICT talents in the country and in fact, supported Andela, a Nigerian software company with a whopping $24m. Konga, a Nigerian e-commerce store isn’t left out of the picture. It attracted over $65m funding in 2014. It’s also not surprising to note that out of $366.8m contributed by African start-ups, Nigerian start-ups contributed the largest share of $109.4m.

The DG concluded, that the local markets are efficient enough to provide more than 50% percent of production needs to reduce the cost of doing business, as well as a tax-friendly policy on profits to support the investors.

Related Posts:

  • NITDA Collaborates With The NSIA To Empower Young People And Startups In Nigeria
    NITDA Collaborates With The NSIA To Empower Young People And…
  • Federal Executive Council Grants Approval To The Nigeria Startup Bill
    Federal Executive Council Grants Approval To The Nigeria…
  • The Value Of Online Education For Emerging Tech Markets
    The Value Of Online Education For Emerging Tech Markets
  • How The Nigeria Startup Bill Could Actually Improve The Digital Economy
    How The Nigeria Startup Bill Could Actually Improve The…
  • These Other Countries Have Banned Twitter Permanently Or Temporarily
    These Other Countries Have Banned Twitter Permanently Or…
  • The New Regulations by Nigerian Govt. Against Startups Creates More Harm Than Good
    The New Regulations by Nigerian Govt. Against Startups…
  • Ethiopia Partially Privatizes Its Telecommunications Company
    Ethiopia Partially Privatizes Its Telecommunications Company
  • 5 Powerful 5-Year Predictions for the African Tech Industry
    5 Powerful 5-Year Predictions for the African Tech Industry
Tags: eventsgitexgitex 2017governmentinvestmentnitda
Uloma Mary Omolaiye

Uloma Mary Omolaiye

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

Loading

Recent

YouTube Suspends Ads And Monetization For Russian Channels

YouTube Is Cracking Down On Tricks Spammers Use For Impersonation

July 2, 2022
Google Unveils New AI- Powered Innovations At ‘Search On’ 2021 Event

Google Updates Its Built-In Password Manager For Chrome And Android

July 2, 2022
How To Be Sure Your Online Casino Is Safe

How To Be Sure Your Online Casino Is Safe

July 1, 2022
Google To Pay Out $90 Million To Small App Developers To Diffuse Antitrust Suit

Google To Pay Out $90 Million To Small App Developers To Diffuse Antitrust Suit

July 1, 2022
US Communications Regulator To Ban TikTok, Writes To Google, Apple To Yank It Off App Store

US Communications Regulator To Ban TikTok, Writes To Google, Apple To Yank It Off App Store

July 1, 2022
Leofied is Wooing African Freelancers With 10% Commission & More

Leofied is Wooing African Freelancers With 10% Commission & More

July 1, 2022
Google’s Switch To Android iOS App Now Works With Android 12 Devices

Google’s Switch To Android iOS App Now Works With Android 12 Devices

June 30, 2022
Snapchat Releases Paid Version Of Its Social App With Extra Features

Snapchat Releases Paid Version Of Its Social App With Extra Features

June 30, 2022
Samsung Kicks-Off Mass Production Of 3nm Chips Ahead Of TSMC

Samsung Kicks-Off Mass Production Of 3nm Chips Ahead Of TSMC

June 30, 2022
Private Aviation: Where It’s At Now

Private Aviation: Where It’s At Now

June 30, 2022

Browse Archives

July 2022
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Receive top tech news directly in your inbox

Loading

About Us

TechBooky

TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

Subscribe to TechBooky

Enter your email address to subscribe to TechBooky and receive notifications of new posts by email.

Join 17,953 other subscribers.

Popular Tags

AI (229) amazon (88) android (264) app (563) Apple (440) artificial intelligence (239) business (283) china (112) cloud (130) cryptocurrency (136) ecommerce (107) enterprise (228) facebook (461) gadget (396) gaming (149) google (528) government (367) guest post (108) instagram (131) internet (327) ios (231) iphone (193) microsoft (251) mobile (259) new feature (255) nigeria (269) privacy (126) research (132) samsung (128) security (352) smartphone (211) social media (632) software (383) startup (241) streaming (132) telecom (154) tips (310) transport (98) twitter (192) united states (179) users (103) videos (108) website (138) whatsapp (124) youtube (101)

Quick Links

  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

Popular Post

  • Trending
  • Comments
  • Latest
Top 2 Methods To Convert CSV To vCard/VCF In 2022

Top 2 Methods To Convert CSV To vCard/VCF In 2022

February 2, 2022
iOS 16 Brings Haptic Feedback To The iPhone’s Keyboard

iOS 16 Brings Haptic Feedback To The iPhone’s Keyboard

June 8, 2022
watchOS 9 Debut With New Ways To Stay Connected, Active & Healthy

watchOS 9 Debut With New Ways To Stay Connected, Active & Healthy

June 9, 2022
WWDC22: Apple Debuts New iOS 16 Lock Screen With Widgets And More

How To Download The iOS 16 Developer Beta To Try The New Features

June 8, 2022
Apple’s WWDC22 Is Set For June 6th-10th As A Virtual Event

WWDC22: What To Expect From Apple’s Developer Conference

May 31, 2022
El Salvador’s $1.4 Billion Bitcoin City Plan Wobbles As Crypto Crashes

El Salvador’s $1.4 Billion Bitcoin City Plan Wobbles As Crypto Crashes

June 25, 2022
YouTube Suspends Ads And Monetization For Russian Channels

YouTube Is Cracking Down On Tricks Spammers Use For Impersonation

July 2, 2022
Google Unveils New AI- Powered Innovations At ‘Search On’ 2021 Event

Google Updates Its Built-In Password Manager For Chrome And Android

July 2, 2022
How To Be Sure Your Online Casino Is Safe

How To Be Sure Your Online Casino Is Safe

July 1, 2022
Google To Pay Out $90 Million To Small App Developers To Diffuse Antitrust Suit

Google To Pay Out $90 Million To Small App Developers To Diffuse Antitrust Suit

July 1, 2022
US Communications Regulator To Ban TikTok, Writes To Google, Apple To Yank It Off App Store

US Communications Regulator To Ban TikTok, Writes To Google, Apple To Yank It Off App Store

July 1, 2022
Leofied is Wooing African Freelancers With 10% Commission & More

Leofied is Wooing African Freelancers With 10% Commission & More

July 1, 2022

Recent News

YouTube Suspends Ads And Monetization For Russian Channels

YouTube Is Cracking Down On Tricks Spammers Use For Impersonation

July 2, 2022
Google Unveils New AI- Powered Innovations At ‘Search On’ 2021 Event

Google Updates Its Built-In Password Manager For Chrome And Android

July 2, 2022
How To Be Sure Your Online Casino Is Safe

How To Be Sure Your Online Casino Is Safe

July 1, 2022
Google To Pay Out $90 Million To Small App Developers To Diffuse Antitrust Suit

Google To Pay Out $90 Million To Small App Developers To Diffuse Antitrust Suit

July 1, 2022
US Communications Regulator To Ban TikTok, Writes To Google, Apple To Yank It Off App Store

US Communications Regulator To Ban TikTok, Writes To Google, Apple To Yank It Off App Store

July 1, 2022
Leofied is Wooing African Freelancers With 10% Commission & More

Leofied is Wooing African Freelancers With 10% Commission & More

July 1, 2022
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact us
  • Privacy Policy
  • Disclaimer
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite

Posting....