ICT SMEs Identified as Panacea to Nigeria’s Economic Woes

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Peter Uzoho

As Nigeria continues to look out for ways of lifting its economy out of economic recession, the ICT industry has been identified as one of the sectors that can support the economy.

Speaking in Lagos at the 5th and maiden Lagos edition of the “Startup Friday”, organised by the Office for ICT Innovation and Entrepreneurship (OIIE), a subsidiary of National Information Technology Development (NITDA),the Acting Director-General, National Information Technology Development (NITDA), Dr. Vincent Olatunji said the body was looking for a way of proposing to government what it could take to take Nigeria out of recession.

He added: “We’ve seen that in the ICT and that’s why we’re trying to support startups to create so many ICT SMEs across the nation that will turn to employable people, and we believe this will really solve a major problem of Nigeria which is unemployment”.

Giving insight into the N3 million Remita Seed funding to three technology startups in Nigeria, Executive Director, Strategy, SystemSpec, Mr. DeremiAtanda said: “This is just to give helping hand to those passionate young Nigerians who have ideas that can rule the world to step closer to putting Nigeria on the global landscape.
“They don’t need any 25 years like we’ve done to become global brands-emerging brands in developing economies. We want the world to see the best of Nigeria today. We want to be part of those giving wings to the eagles in Nigeria’s Tech industry to fly.

“We’ve had some different programmes in the past but now we’re saying that especially in this period of recession it’s time for you to catalyse ideas. And ideas that are birthed when things are in the low are potentials of huge returns when things stabilise.

“So we say about now there are many people who have huge ideas but there isn’t enough funding to these brains. So it’s a difficult time. But even as we’re all having our tough times we believe it’s also right for we to put money in and encourage these young people”.