This was revealed in a statement released by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, following Vice President Kashim Shettima’s engagement with Swedish businesses in Stockholm. 

During the event, the Vice President emphasised Nigeria’s focus on creating an attractive environment for foreign investment, pointing to the digital economy, agriculture, and renewable energy as key growth sectors. 

He noted the government’s efforts to ensure a competitive business sector, supported by recent financial reforms like the unification of exchange rates and fuel subsidy removal. 

Shettima encouraged Swedish investors to explore the expanding opportunities in Nigeria, noting that the country’s ambitions are aligned with the evolving demands of the Fourth Industrial Revolution.

Gluwa’s Director, Akinola Jones, announced that the company is investing $100 million in Nigeria and will also train over 30,000 Nigerians in digital skills. Jones stated that Gluwa’s goal is to promote financial inclusion by “banking the unbanked and connecting the unconnected.”

The company aims to significantly boost connectivity by launching a satellite to provide direct WiFi access by December 2024.

In addition to offering loans worth $100 million, Jones highlighted Gluwa’s focus on impactful investments that align with Nigeria’s broader development agenda.

Similarly, Ericsson’s Managing Director in Nigeria, Peter Olusoji Ogundele, revealed plans to establish a $19 million technology hub in the country. He stated that the country’s youthful population can be trained and potentially exported as skilled professionals to the global market, similar to India’s experience in the technology sector. 

Ericsson has been active in Nigeria since 1978 and continues to see the country as a long-term partner in the technology space.

Shettima reiterated the importance of MSMEs in Nigeria’s economy, noting that they account for 96% of businesses and over 84% of employment. However, he acknowledged the challenges faced by small businesses, including limited access to capital and markets. 

He urged Swedish companies to play a critical role in helping Nigerian MSMEs overcome these hurdles, particularly through technological advancements and expertise in digital finance, renewable energy, and agriculture.

The Vice President also pointed to Nigeria’s thriving digital economy, referencing local fintech giants Flutterwave and Paystack, which have attracted global attention and secured over $1 billion in funding in 2022 alone. He called for further collaboration between Swedish investors and Nigerian startups to fuel innovation and create job opportunities.

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Lagos is Nigeria’s commercial capital of over 20 million people ranked recently ahead Dubai and other major cities as the 19th Best City to visit in the World by the renowned British Media and Hospitality Company, Time Out.

The ‘50 MVPs in Nigeria’s Digital Economy’ underscores the challenges and progress in one of Africa’s most exciting transformative journeys into the New Economy, said Dr. Sola Afolabi, chairman of the Nomination Team for 2024, who is also the Chairman of Baobab Think.

Part of the official statement reads:

“Despite challenges such as inadequate infrastructure, cybersecurity threats, regulatory hurdles, and the digital divide between urban and rural areas, Nigeria’s digital economy is experiencing pulsating growth and transformation. This remarkable progress is fuelled by advancements in technology, internet connectivity, and innovation.

“With a population exceeding 200 million people and a youthful demographic, Nigeria presents a vast opportunity-market for digital products and services.

The 2024 ’50 MVPs’ have demonstrated their commitment to seizing these opportunities through innovation, dogged entrepreneurship, and remarkable dedication to pushing the levers for the right policies, investments, and collaboration between the public and private sectors.

“Across subsectors such as Mobile Connectivity, E-commerce, Fintech Innovation, Tech Hubs and Startups, and Government Initiatives, the 2024 MVPs have played a pivotal role in heightening the potential of Nigeria’s digital economy in a robust manner. We are delighted to celebrate them, believing that history will always remember this moment and remember them as unique achievers.”

This year’s event builds on more than a decade of industry gathering under the auspices of the West Africa Convergence Conference (WACC) and last year’s hosting of Nigeria’s Top 50 Digital Economy Enablers which focused more on the institutions that have enabled Nigeria’s digital economy.

The 2024 assembly is recognising individual’s commitment to fostering an inspiring leadership for sustainability of the sector.

The tied-in One Day Industry Colloquium, Industry Lunch and Recognition Ceremony will feature a key presentation on “Nigeria’s Digital Economy and Building Synergy across Sectors and Stakeholders to Expand Opportunities for Young People”  and a  Conversations on “Enabling the Pipe in the Digital Economy for Job Placements to Ensure Life After Capacity Training.”

According to Olusegun Oruame, the CEO of Knowhow Media, “the gathering shines the light on the pioneers, the disrupters, and the young Turks in a way that uniquely narrates Nigeria’s bolstering strides in the last decades in spite of frightening challenges; and most  importantly, who and what’s coming next.”

Knowhow Media is an industry-supported partners’ event led by Knowhow Media, publishers of IT Edge News.Africa, one of the continent’s major tech publications, published since 2007.

The post Lagos Emerges Host City for Nigeria’s 50 Most Valued Personalities (50 MVPs) in Digital Economy appeared first on Tech | Business | Economy.

Nigeria has witnessed a significant surge in technology, and Edo State is no exception. According to the National Bureau of Statistics, Edo State has attracted over $1.2 billion in foreign investments in recent years to fuel technological innovations.

With careful consideration and examination, Edo State stands poised for substantial progress in technological development and innovation, chiefly through the establishment of innovative tech hubs. Notable examples include Digihub NG, Edo Innovates, and Gig Innovative Hub, among others.

Key players in the tech hub scene in Edo State

Edo State Government: Under the leadership of Governor Godwin Obaseki, Edo State launched its first state-owned Technology Hub, known as “Edo Innovates,” on June 14, 2018. This initiative aims to create job opportunities, support startups, and serve as an incubator for innovative ideas. Notably, Ukinebo, the head of Edo Jobs, reported that the hub has helped to award over 100,000,000 grants and funding and training programs since its inception.

Tech Enthusiasts and Entrepreneurs: Enthusiasts, such as GIG Innovations Hub funded by the Edwin Ajaere Foundation, are playing a vital role in empowering students in secondary and tertiary institutions. They offer annual curriculum programs covering web development and programming, fostering early technology adoption among students.

The Current State of Technology in Edo State

This current state showcases its increasing importance in government and private sector operations. On September 1, 2023, the Edo State civil service underwent a digital transformation, transitioning from paper-based to paperless operations. This shift was made possible by a 152 billion naira investment in digitalization in 2021, resulting in the digital archiving of six million documents.

Additionally, awareness of technology’s role in social change and development is on the rise. Initiatives like the Technology for Social Change and Development Initiative (Tech4Dev) and the Nigeria Economic Summit Group (NESG) conducted a workshop in Edo State, focusing on creating an action plan for adopting the digital jobs playbook to boost digital employment opportunities.

Recognizing the importance of education, the Governor introduced EdoBest, a technological innovation that equips teachers with tablet devices containing lesson notes, facilitating effective teaching and daily lesson delivery.

Benefits Brought About by Having a Tech Hub in the State

Access to Mentorship: Young and aspiring entrepreneurs can benefit from mentorship, gaining guidance and networking opportunities from experienced individuals, fostering their growth in the early stages of their ventures.

Job Opportunities: Edo Innovates, in particular, has a section called “Edo Jobs” that has significantly reduced unemployment among Edolites by providing vocational skills and employment opportunities, thus contributing to lower crime rates.

Supportive Environment for Startups: Tech hubs provide a conducive atmosphere for startups to thrive, ultimately contributing to the state’s technological ecosystem.

Edo State, although geographically central, is poised to become a technological powerhouse thanks to government and private initiatives in technology and innovation. It is a state to watch in Nigeria’s technological landscape.

Digihub’s Impact on Edo State’s Technological Ecosystem

Technology has firmly established itself in this current era and shows no inclination to let go easily. The fact that both government and private individuals have made substantial investments in this sector has fortified its presence.

In the endeavor to transform the technological ecosystem of Edo State, Digihub Tech Solutions has played a pivotal role.

Digihub Tech Solutions is a rapidly growing technological hub and business enterprise committed to creating innovative tech solutions in mobile app development, graphic design, animation, and web and software design.

Their primary objective is to enhance the technological ecosystem of Edo State, Nigeria, through training and workshops.

They offer a wide range of services, including web development, software engineering, tech training, and mobile app development, and provide training to individuals in these areas.

Osato, an intern with Digihub, had this to say: “My best tech education experience has been with Digihub. It’s a great place to learn.”

That’s not all; a client from Dubai, Emerald, testified that his website looks world-class because he chose Digihub for it.

Just imagine how different the coronavirus era would have been if Digihub hadn’t designed a mobile app for the Edo State Government to provide live coronavirus updates to the good people of Edo State.

What are your views on Digihub and the groundbreaking innovative tech solutions they bring to our everyday lives? As for me, I see Digihub breaking barriers and advancing to the next level in technological breakthroughs, thereby competing with the great technological hubs in the country.

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