Economy: NBCC, stakeholders seek tech. infrastructure

Nigerian-British Chamber of Commerce (NBCC)

The Nigerian-British Chamber of Commerce (NBCC) and stakeholders in the technology sector have emphasised the need to build infrastructure that allows technology to thrive.

They gave the advice at the NBCC first edition Next Generation Series with the theme: ‘Pacemakers in the Technology Sector’, held physically and virtually on Thursday in Lagos.
Mrs Bisi Adeyemi, President, NBCC, described the Information Communications and Technology sector as one of the fastest-growing in Nigeria.
Adeyemi, represented by Mr Ray Atelly, Deputy President, NBCC, said that in spite of the COVID-19 pandemic, in 2020, the sector contributed 15 per cent of the country’s gross domestic product (GDP), second only to agriculture.

This growth, she noted, had positioned Nigeria as the largest tech market on the African continent, with tech hubs and a growing and vibrant customer base.

Adeyemi stated that over 180 million people (72 per cent of the population) had access to a mobile telephone and projected internet penetration to reach 65.3 per cent in 2025, up from under 2 per cent in 2001.

She said Nigeria needed to explore the sector, build better infrastructure, and maximize the benefits for the collective good of the stakeholders, beneficiaries and the country at large.

“The sector has grown and has made a significant impact both in Nigeria and around the globe.

“It has been estimated by Jobberman that the sector is on track to add US$88 billion to the economy by 2027.

“Today, we are honoured to have in our midst tech experts and professionals who have distinguished themselves in the tech space as they share with us insights that would drive the sector to its fullest potential,” she said.

On his part, Mr Collins Onuegbu, Executive Chairman, Signal Alliance, said that technology had moved from being an exotic thing two decades ago to a necessity in the current century.
Also, Mr Adetayo Bamiduro, Co-Founder, MAX Africa, a vehicle subscription platform, said that technology had enabled distribution, access and reduced costs at a never seen before scale.
Bamiduro stated that technology was the leverage to even the unequal financial gap between the older rich generation and the younger poor to middle income earners.
He noted that the concept of infrastructure had changed over decades, with fundamental infrastructure now being technological infrastructure.
“Value creation is about building infrastructure, and infrastructure today is no longer physical but digital,” he said.
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