Financial services within Nigeria’s digital economy could add US$88 billion and create over 3 million new jobs over the next 10 years.
This is according to Minister of Industry, Trade and Investment who says the ministry is already developing the “Smart Nigeria Digital Economy Project” and that the objective is to solve efficiency problems and create leapfrog opportunities in the economy, improve competitiveness and foster technology development and innovation more generally.
Th eSmart Nigeria Digital Economy Project is Nigeria’s response to an area of intense economic and technological activity by Nigerian youths, where there is a growing pool of talent, he stated. “It is a sector of the economy where the private sector already has ownership.
The Minister also shared the fact that there are currently 150 million active mobile users in a country of 170m, of which over 60% are connected to the internet. There are some 17m Facebook users and new technology start ups and young people writing apps that solve problems and spur growth.
Lagos, the largest commercial city in Africa accommodates some of Africa’s well-known consumer tech businesses such as iRokotv, Hotels[dot]ng, Jobberman, Andela, Balogunmarket, and Truppr[dot]com.