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Nigeria spends $400 mln yearly on foreign software purchase at the expense of the local industry

Thursday, 21 March 2019 15:25
Nigeria spends $400 mln yearly on foreign software purchase at the expense of the local industry

(Ecofin Agency) - Nigerian IT and finance actors are asking the government to adopt appropriate measures to end the enormous expenses incurred in acquiring foreign software while local ones offer the same functions.

During a round table meeting organized in Lagos, on March 18-19, 2019 on the use of Nigerian fintech software, Dan-Azumi Mohammed, managing director of the National Office for Technology Acquisition and Promotion (NOTAP) indicated that the government spends $400 million yearly on foreign software.

According to him, these recurrent expenses negatively affect the local industry that is unable to develop itself because it receives no state orders.

Udukheli Izebuno, Business Director, Government Sector at CWG Plc, also explained the same thing indicating that these foreign softwares are sometimes prone to security risks.

CWG Plc added that should the government order local software, it should not only help it save money but also contribute to the survival of a local industry that would create jobs and boost national development.  





 
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