The National Information Technology Development Agency (NITDA) has advocated legislation that would foster innovation and build a sustainable tech ecosystem in the country.
The Director General of NITDA, Kashifu Inuwa Abdullahi made the submission in an interview with the newsmen on the sidelines of a 2-day ISF Summit 2024 with the theme ‘Empowering Innovation, Accelerating Growth’ at the International Conference Centre, University of Ibadan.
Abdullahi said the legislation would position Nigeria and Africa as a global player in the digital economy.
He reiterated the commitment of the agency to creating an enabling environment for digital innovation through strategic policies, partnerships, and capacity-building initiatives.
The summit, convened by the Chief Executive Officer, Zeeh Africa, Mr David Adeleke, brought together investors, entrepreneurs, ecosystem builders, business operators, and policymakers from different countries in Africa. They shared insights, appraised successes, and initiated collaborations on transformative projects that could drive economic and technological advancement in Nigeria, and other African countries.
Abdullahi in a paper delivered by the agency’s Director of Stakeholders’ Management and Partnership, Dr. Aristotle Onumo, specifically spoke on the ‘The Role of Regulatory Frameworks in Accelerating Digital Innovation Across Africa emphasised the critical need for adaptive, inclusive, and forward-thinking regulations to foster innovation, build sustainable tech ecosystems, and position Nigeria and Africa as a global player in the digital economy.
He underscored the importance of aligning regulatory frameworks with emerging technologies to unlock opportunities for startups, investors, and tech enthusiasts across the continent.
The convener of the summit, David Adeleke, identified lack of collaboration as one of the factors against business start-ups in Nigeria and Africa, saying: “If we join together, we could make a lot of progress. Our track record so far is we’ve been able to attract investors all over the world, including Japan and the United States of America.
He added that the partnership has brought about a $250,000 grant for business startups and each of the lucky beneficiaries would have access to a $10,000 grant.
The Head of Commercial Banking (South), Lotus Bank, Felicia Tamuno, said: “We found out that technology is seriously disrupting the business environment, making processes efficient and customers’ taste in businesses is also changing. So, as a business owner, without innovative information and ideas, you cannot thrive.
“As a business person, you have to ensure that you keep growing, reviewing models because things are changing every day. In business, you change models, come up with something better.”
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