Telecom

Nigeria: IT startups generated $101 million in the first nine months of 2018

Nigeria: IT startups generated $101 million in the first nine months of 2018
Friday, 07 December 2018 20:17

During the workshop baptized "Start-up Friday", organised on December 5, 2018, Isa Ali Ibrahim Pantami, general director of National Information Technology Development Agency (NITDA) of Nigeria, revealed that IT startups generated $101 million for the country’s economy from January to September 2018.  

According to this official, these innovative firms generated $9 million for the country’s economy during Q1, 2018, $57 million during the second quarter and $35 million in the third quarter.

According to him, these growing performances are the result of the dynamism in the Nigerian IT sector supported by the government, which is set on making this sector a pillar for the economy via a strict application of the rules in force. He indicated that in 2013, more than 82,000 local IT and digital products were bought. This volume rose to 92,000 in 2015, 150,000 in 2016 and 300,750 in 2017.

Isa Ali Ibrahim Pantami explained that to further strengthen the contribution of the IT sector in Nigeria’s economy, "Start-up Friday" would scour the various regions to "identify our young innovators who have potentials and see how they can be supported to achieve their dreams".

The head of NITDA informed that in Q2, 2018, the IT sector’s contribution to GDP was 13.63%.

On the same topic
Government ramps up e-services, digital ID, and payments, but rural gaps remain Highlights: ● Over 900 government services digitized under "Digital...
As Algeria ramps up efforts to digitize its economy, the new cable is expected to play a critical role in improving service delivery, boosting enterprise...
Morocco to invest $8.9B in 5G rollout, targeting 85% coverage by 2030. Plan includes fiber expansion and rural connectivity under Digital...
Senegal and Vietnam discussed digital tech cooperation on July 23. Talks support Senegal’s goal to become a digital hub and expand rural...
Most Read
01

The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...

Kenyan Mawingu Networks to Sell 35% Stake to South Africa’s Pembani Remgro Fund
02

The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...

10 African Fintech Unicorns and Upstarts Make World’s Top 300
03

By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...

Liberia, ECOWAS & World Bank collaborate on second West Africa submarine cable plan
04

As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...

Africa Faces 'Critical' Digital Skills Gap as Youth Population Booms, UN Warns
05

- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...

WAEMU: SMEs Secured 52% of Business Loans in 2024, Up From 49% in 2023 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.