Nigeria‘s extra ICT funding to boost job creation

Nigeria’s ICT sector is to receive extra funding in a strategy aimed at creating more jobs and developing the economy in Africa most populated nation.

Speaking during the ongoing ITU Telecom World 2012 in Dubai, Nigeria’s Vice President Namadi Sambo said the US$15 billion worth of investment on ICT infrastructure will be increased to pave way for additional job creation.

Sambo compared Nigeria with Dubai, saying: “Nigeria, with a population of about 167 million people, has an investment level of about US$15 billion in the information communication and technology (ICT) sector, while Dubai, with a population of just about four million has an investment level of about $60 billion.”

Sambo said that ICT has opportunities for job and wealth creation, and therefore it “is essential that Nigeria continues to have cooperation at the international level so as to continue to expand and open the ICT sector in the country to create jobs for the teeming Nigerian populace.”

Sambo said the federal government is determined to explore the ICT sector and create more jobs for Nigeria to surpass Dubai. The government has realised the importance of ICT and the main objective of the administration is to make Nigeria one of the most developed nations by 2020.

He further emphasised that the telecommunication and IT sectors will benefit from reliable power supply.

“One of the aspects of this development is the issue of adequate power generation and supply. Before our administration came into power, generation was just a little over 2,000 Mw, but now we generate over 4,000 Mw,” he said.

According to some sources from the vice president’s office, there is an estimated 19 hours of power supply in Lagos courtesy of the current government. Plans are also underway to establish 10 new thermal powers to increase the supply by 5,000 Mw.

Secretary-General of the ITU, Dr Hamadoun Toure said: “For Nigeria to have remained the fastest growing telecoms market for five years in a row means there are things people in that sector are doing right. Now, the giant of Africa has risen, and there is no stopping it. I am from Mali, and I should know, Nigeria is the economic powerhouse of the West African sub-region.”

ITU Telecom World is an annual global ICT forum that allows stakeholders in the communications industry to connect, debate, network and share knowledge

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