Nigeria could be a big tech player in the world

Nigeria is a huge market made up of incredibly talented entrepreneurs. With a growing, urbanising population of nearly 170 million people and GDP growth predicted at more than 6.5% per annum for the next four years, the potential growth of Nigeria in tech sector is set to be high particularly considering the current gaps in the market.

The arrival of four large fibre-optic cables, including the huge Main One and Glo-1 cables that connect Nigeria’s coast to global communications infrastructure is changing the connectivity in the country. The dramatic increase in bandwidth could, analysts say, release the latent potential in Nigerian technology.

Some global companies are already positioning themselves to take part in the country’s growth. IBM has created innovation hubs in the Lagos and Calabar, joining the search engine giant Google. Perhaps more exciting, however, is the rush to create working spaces for new, Nigerian-owned and founded companies.
In February, the government-funded OIIE launched a new program called StartUp Fridays, a curated meet-up for young businesses, investors and mentors. At these gatherings, young entrepreneurs have the opportunity to pitch their startups and receive feedback and network with potential investors.

In many developing countries, working with government is essential for entrepreneurs and Nigeria is no different. This places nigeria in a unique position to nourish its own innovation ecosystem and insiders say it’s already on its way to providing that support for tech entrepreneurs and others like them.

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