Lagos Innovation Hub – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Fri, 05 Sep 2025 09:28:21 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Lagos Innovation Hub – Tech | Business | Economy https://techeconomy.ng 32 32 GITEX NIGERIA 2025: ‘Cashless Policy Created Gaps Nigerian Startups Rushed to Fill’ — Kashifu https://techeconomy.ng/gitex-nigeria-2025-cashless-policy-fuelled-fintech-boom/ https://techeconomy.ng/gitex-nigeria-2025-cashless-policy-fuelled-fintech-boom/#respond Fri, 05 Sep 2025 09:28:21 +0000 https://techeconomy.ng/?p=166515 Nigeria has produced five of Africa’s nine tech unicorns, and Lagos, now hosting GITEX NIGERIA 2025 for the first time, has been described as the continent’s technology capital.

Speaking at the opening ceremony, Kashifu Inuwa Abdullahi, director-general of the National Information Technology Development Agency (NITDA), stated that the event is a turning point in Nigeria’s role in building the “future economy.” 

He expatiated that Lagos is not just the nation’s commercial hub but also a global crucible of innovation, where limited infrastructure has never stopped startups from scaling into billion-dollar companies.

This is a declaration that Nigeria is ready to lead the future economy. We have shown resilience where others relied on capital and infrastructure. We turned necessity into opportunity.”

He credited government policy decisions, such as the cashless initiative first piloted in Lagos in 2012, as a catalyst for the explosion of fintech innovation. That move, he said, created the gaps Nigerian startups rushed to fill, driving the country’s distinction in Africa’s fintech sector.

Abdullahi noted that while fintech has been Nigeria’s “rocket fuel,” the nation’s goals are not limited to financial services. He pointed to opportunities in agriculture, healthcare, and security as the next frontiers, stressing that with the right opportunities, Nigerian talent can compete with any city or nation worldwide.

GITEX NIGERIA 2025, organised under the patronage of the Federal Government and in partnership with the Lagos State Government, is designed to showcase those opportunities. Abdullahi revealed that Lagos Governor Babajide Sanwo-Olu had first envisioned bringing GITEX to Lagos after being impressed by its scale in Morocco two years ago.

Today, that challenge has become a reality,” he said. “We are not waiting for the future to happen, we are building it here in Lagos.”

He also urged global investors and innovators to take part in Nigeria’s transformation. “We have done it in fintech. We will do it in agriculture, in health, in security. Whether with you or without you, this journey will continue. But this is your opportunity to be part of it.”

This obvious blend of ambition, resilience, and youthful innovation in Lagos shows its becoming the engine of Nigeria’s economy and the epicentre of Africa’s digital future.

]]>
https://techeconomy.ng/gitex-nigeria-2025-cashless-policy-fuelled-fintech-boom/feed/ 0
GITEX Nigeria: Digital Economy to Contribute 21% to Country’s GDP by 2027 – Minister https://techeconomy.ng/gitex-nigeria-2025-digital-economy-2027-gdp-growth/ https://techeconomy.ng/gitex-nigeria-2025-digital-economy-2027-gdp-growth/#comments Thu, 04 Sep 2025 22:23:29 +0000 https://techeconomy.ng/?p=166467 At the opening of GITEX NIGERIA 2025 in Lagos, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, projected that Nigeria’s digital economy will contribute 21% to GDP by 2027, a shift from earlier 2030 projections. 

The target, he said, is within reach through the Federal Government’s 90,000-kilometre fibre optic rollout and the world’s largest coordinated digital skills programme, both designed to enable expansion of the sector, among other initiatives.

Addressing innovators, investors, policymakers, and global partners, Tijani framed Lagos as Africa’s innovation epicentre, noting the city attracts about 2,000 new residents daily, hosts the continent’s largest number of tech hubs, and has birthed at least six unicorns. 

Beyond technology, he highlighted Nigeria’s $15 billion creative economy, powered by Nollywood and Afrobeats, as proof of the country’s unique fusion of culture and innovation shaping global markets.

The digital economy is not just about apps and platforms. It is about efficiency and productivity that transform agriculture, education, manufacturing, and governance,” Tijani said.

At GITEX NIGERIA, the minister outlined ongoing initiatives, including the Project Bridge fibre pipeline to connect every Nigerian state, local government, and ward, and the 3MTT programme, which is preparing young Nigerians for global jobs. 

He also confirmed a new round of funding for 75 academic research projects, to be announced on 1 October, alongside efforts such as the AI Collective and a forthcoming National Digital Economy and E-Governance Bill designed to build trust, security, and accountability.

Tijani called on startups, corporates, academia, the diaspora, and international partners to boost the transformation. “Government investment builds the foundation, but the opportunity and responsibility lie with all of us,” he said.

Nigeria is not only keeping pace with the digital future, we are shaping it.”

]]>
https://techeconomy.ng/gitex-nigeria-2025-digital-economy-2027-gdp-growth/feed/ 3
Sweden Makes Strategic Bet on Nigeria, Launches Innovation Hub in Lagos https://techeconomy.ng/sweden-makes-strategic-bet-on-nigeria-launches-innovation-hub-in-lagos/ https://techeconomy.ng/sweden-makes-strategic-bet-on-nigeria-launches-innovation-hub-in-lagos/#respond Tue, 08 Apr 2025 07:56:47 +0000 https://techeconomy.ng/?p=156438 On Monday, in a bid that strengthens deeper economic cooperation and long-term strategic interest, Sweden officially launched its largest innovation hub in Africa—right in the heart of Lagos.

The decision wasn’t just a ceremonial gesture; it was business. Sweden is looking to Nigeria—not just as Africa’s largest economy, but as a place to build. Build tech. Build trade. Build trust.

The Swedish Crown Princess, Victoria, currently on a three-day state visit, sat down with Nigeria’s Vice President, Kashim Shettima, at the Presidential Villa in Abuja. Discussions went from tech to trade, from culture to climate. And both countries are ready to push this relationship forward.

Vice President Shettima said: “Nigeria will continue to be a dependable ally of Sweden in all seasons.” He spoke of a partnership “anchored in innovation, powered by people, and guided by our shared determination to uplift communities and secure prosperity for generations to come.”

Sweden’s Minister for Infrastructure and Housing, Andreas Carlson, spoke about what’s driving the move: opportunity. “We have opened five innovation hubs in Africa, with the largest one in Nigeria, in Lagos. So, I see a lot of opportunities in other sectors as well, such as health, agriculture, and more.”

And with that came confirmation—Sweden’s physical trade office in Nigeria is set to officially open on Tuesday. After 65 years of bilateral relations, Sweden is betting big, and betting long-term, on Nigeria.

Princess Victoria added weight to the moment, saying, “It’s wonderful to see the opportunities that are here. I think this is especially important in the times we live in right now.”

She’s not wrong. Nigeria is trying to shift its economic gears, and Sweden is offering a toolkit—through tech, investment, and knowledge exchange.

There was also a focus on commitments already made. One of them is a Memorandum of Understanding (MoU) signed between Nigeria and Swedish tech giant Ericsson. Shettima made it clear—Nigeria is ready to get the wheels turning. “We are a large nation with a tech-savvy population. Many of Africa’s tech unicorns are Nigerian-based. The future is Nigeria.”

Ericsson’s team, led by Patrick Johansson, Senior Vice President and Head of Market Area Europe, Middle East and Africa, came calling at the Villa too. They’ve been here before, helping Nigeria build its digital backbone long before most international companies saw potential in the country’s tech scene.

She has remained a faithful partner in progress and a collaborator in our transformation journey,” Shettima said, referring to the company’s consistent presence in Nigeria.

It didn’t end there.

Majda Lahlou Kassi, another Ericsson executive, emphasised why Nigeria continues to be a priority. “Ericsson believes in Nigeria’s potential and is proud of the existing relationship, especially the possibilities for growth in the local market and entrenchment of a digital culture among the citizenry.”

There was also conversation around education and social development. The VP praised SchoolTry, a Swedish edtech company working to improve education outcomes in Nigeria. It’s another proof point that Sweden isn’t coming in for extractive purposes—they’re bringing tools, tech, and teaching.

Minister of Foreign Affairs, Yusuf Tuggar, used the moment to highlight even more: green energy, agriculture, skilled employment, and ICT outsourcing. According to him, Nigeria is already holding talks with countries like Sweden to ensure skilled workers can access structured opportunities abroad. “This will reduce irregular migration,” he said.

So, yes—it was a packed Monday. But this wasn’t diplomacy as usual.

This was Sweden looking at Nigeria not just as a partner, but as a huge force in Africa’s sustainable development. And it was Nigeria, in return, revealing that it’s not just open for business, but ready to lead from the front.

]]>
https://techeconomy.ng/sweden-makes-strategic-bet-on-nigeria-launches-innovation-hub-in-lagos/feed/ 0