As the nation looks to ubiquitous broadband and data infrastructure deployment, the minister of communications,  Barrister Adebayo Shittu, has proposed an ICT Development Bank that would specifically be dedicated to cater for the required funding, provisions and growth within the ICT sector in Nigeria under a PPP agreement.

He decried the  level of investment deficit of $900million within the country ICT ecosystem. According to the minister who was speaking at the 2017, ICTEL Expo and exhibition organised by the Lagos Chamber of Commerce and Industry, LCCI, themed: THE DIGITAL ECONOMY: STRATEGIES FOR GROWTH IN A CONNECTED WORLD, “the Federal Government also plans to initiate the establishment of a specialized ICT Development Bank to cater for the development of the ICT industry. You will agree with me that the regular banks cannot cater for the needs of operators in the ICT industry because of the time it takes to develop ICT products and services, from inception to market.  Government will therefore seize opportunity to further leverage the evolving technological trends to fast track its economic development in the sector”.

The Minister added that, the year 2017 must be a year of action as governments are preparing for the Fourth Industrial Revolution, which is predicted to happen globally in the very near future, “the Federal Government had conceived a national ICT Park and Exhibition Centre in the Federal Capital Territory and other parts of the country. The establishment of the centre will encourage investments in the ICT sector and complement the proposed ICT University which will also produce the required skilled manpower for the industry”.

He noted that the ICT Sector has in the past year, recorded landmark activities and significant achievements and the environment for greater achievements has been created.

“Through the key components of the ICT Roadmap which has been approved by the National Economic Council, NEC, that we will deliver this year:

(i)    Hosting of the Smart Cities Summit, precisely on the 8th and 9th of August, 2017

(ii)    Establishment of an ICT University

(iii)    Establishment of a National ICT Park and Exhibition Centre  at the Abuja Technology Village

(iv)    Establishment of a secretariat for implementation of the eGovernment master plan

(v)    Establishment of an Electronic Document management system”

Nigeria and the global ICT economy

Nigeria has no reason to be at the lower wrung of development when compared to some other African countries that have surpassed us in all indices.  “So many countries never had petroleum or lands and yet have surpassed Nigeria in all indices of development but I believe that ICT has come to the rescue because for the first time in the history of this country ICT industry in 2016 contributed over 10 per cent to the country’s GDP and now, there is greater access to ICT and Nigerians are today better able to use ICT, thus integrating them into the global digital economy and its benefits. Although challenges still abound, implementation of already mapped out initiatives and programmes will ensure the optimal transformation of Nigeria to a true SMART State as we are committed to supporting Digital Economy in its laudable endeavour and vision to bridge the gap between Nigeria and the rest of the world in Information and Communications Technology”.

The Ministry he said will continue to support the establishment of companies or organizations in the areas of hardware and software development by ensuring that they are protected through regulations or other means. “We will assist them to grow. We have accepted that Nigeria must take the leadership role in Africa’s ICT ecosystem. Therefore, we are amenable to PPP relationships to drive the Ministry’s projects because we’re tired of Nigeria being a dumping ground for all kinds of ICT products and brands which is why we’re encouraging ICT companies to come and set up factories here in Nigeria so as to create jobs for our teeming unemployed youth population.”

“Federal Government through the Ministry of Communications is collaborating with the European Union Commission to create a Digital Single Market in Nigeria. The size of Nigeria makes it the most lucrative investment destination in sub-Sahara Africa with a high return on investments and an emerging market that made it one of the new frontiers for investments and Digital Market consideration. This collaboration is timely and coming at a time the ministry is making concerted efforts to implement its ICT Strategic Roadmap, e-Government and Mobile Broadband Plans.”

Harmonising right of way charges

“I am happy to report that the National Economic Council (NEC) has approved a policy to harmonise right of way charges payable by telecom companies and related public utility infrastructure on Local Governments, States and Federal Highways. This policy will minimize the spaces occupied, burden on the roads and reduce taxes payable by the telecom operators. On our part, we are ready to liaise with States and relevant stakeholders for the smooth implementation of the Right of Way project.”

Shittu however added that the Government is working hard to ensure that all needed infrastructure are in place for the desired growth in the sector, thus helping our national development agenda. “I will therefore, be glad if the Lagos Chamber of Commerce and Industry can mobilise the Private Sector for the needed collaboration with the Government so that adequate local and foreign investments can be sourced for the sector. I enjoin you to key into Government’s Economic Recovery and Growth Plan, to revive the economy. I also charge you to explore the enormous potentials of the sector to advance the economy”, he said.

Report by Theresa Igata