According to NCC stats, ICT alone has contributed N31.86 trillion to Nigeria’s Gross Domestic Product (GDP).
This means that, over the years, we have witnessed the emergence of innovative startups that in turn increased job opportunities, while providing an enabling environment that could attract seed funding and, give budding tech entrepreneurs a grooming ground to launch and grow their digital products.
Countries with astute technological facilities are generally economically progressive and export-driven.
MTN- Nigeria, a South African telecommunication company commenced full operations in Nigeria in 2001 after obtaining a GSM license from NCC.
Also read, Review: Top 10 Tech Companies in Nigeria
However, telecommunication in Nigeria started during the colonial era in 1886. Afterward, Nigeria went ahead in 1985 to establish her foremost indigenous telecom company (NITEL) which was followed by the then ECONET now AIRTEL.
We have over time seen other telecom companies launch and are fully operational in Nigeria.
The Foundation laid by these telecom giants paved way for other innovators and investors to see possibilities in Technology.
Now, back to our focus!. Technology industries in Nigeria, as a matter of fact, are making waves in Africa and also, are spreading their wings and presence on the global scene.
For example; Flutterwave is a Nigerian-owned fintech company with its headquarters in San Francisco.
Nigeria is faced with numerous challenges, ranging from epileptic power supplies, transportation, education, logistics, finance, inadequacy in the food chain distribution (Agriculture), and even the health sector.
Also read, 7 Tech Companies with African Women in Leadership Roles
Interestingly, smart entrepreneurs have taken advantage of these problems to create viable and sustainable solutions through the founding of several tech firms which have attracted international attention and funding.
Jumia was able to rake in millions of naira by recognizing the need to ease people off the stress of buying goods and the pains associated with moving the goods from place to place; which made them start up an e-commerce venture, where people can purchase goods on the web and get it delivered to their doorstep.
Nigeria’s tech sector has found solutions to the problems created by the state. A weak financial system provided room for Financial (FinTech) startups.
Suffice it to say that ICT is the new oil and Nigeria has fertile grounds to incubate and grow its seeds.
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