Nigeria's technology growth has risen beyond any doubt in the last five years. This could be witnessed in the number of tech enabled startups that are making impacts to the populace they are serving and their competitive edge in the global technology market. But then, there's more to this. There is a rational imbalance in the way Nigerian startups evolve upon inception. Some see the daylight, some do not. It's not because they have a bad product for the market but because technology growth in Nigeria is still on motion.
In emerging markets like Asia and Latin America, a tech startup with a smart idea in a booming economy might expect to attract investor interest, especially if competition is slim.
Business leaders and investors said the sector in Nigeria is held back by lower internet penetration as well as scarcity of early stage capital and a lack of management expertise. I totally agree with this. These two problems form the cum basis of Nigeria startups failure. Nonetheless, securing an investment deal most times do not guarantee success in Nigerian tech market.
Part of the problem for Nigerian tech startups is that internet use, despite mushrooming in the past decade, is low. Only 45 percent of Nigeria's 250 million people use the Internet, half the rate in the whole of Africa and below a global average of 36 percent.
Looking at what other African countries are achieving with tech, notably Kenya and South Africa, you'll agree with me that information and communication technology could help Nigeria overcome infrastructure inadequacies, satisfy rising consumer demand, boost regional trade and diversify economies, ending reliance on natural resources, most especially petroleum.
Technology we know today to be prominent is the internet. But the problem in Nigeria is affordability. Though Nigeria has one the highest mobile broadband growth rates, services cost between a fifth and half of average income compared to just two to five percent in other developing countries.
Truthfully, Nigeria's tech sector lags in terms of prominence and investment, according to experts. It needs better and cheaper internet access and broader adoption of smartphones.
Now talking about investing in startups, excepting of recently, getting an investment for a startup seems like the most impossible mission for any founder with the current economic recession int he country. But when a startup gets funded, it seems to be the eureka point of success for the startup.
Take for instance in Silicon Valley, startups can receive up to $2 million from a range of funders including venture capital firms, 'angel' investors and private equity houses. Such a financial ecosystem does not yet exist in Nigeria. Of which if exists, many startup founders in Nigeria would have been in market and ply their trade. By tapping into the amazing opportunities presented by the proliferation of smartphones in Africa and Nigeria in particular, no time is better than now to reshape the way things are done in Nigeria using tech. This will pave way for unequivocal and cross-country even development.
What does this technology-driven revolution mean for Nigeria? Routine blue-collar and white-collar jobs will start becoming automated, which means that creativity, IT and foundational skills will win over traditional know-how. Employers will rely less on traditional knowledge, prioritizing innovation and adaptability instead. High-skilled jobs in the fields of science, technology, engineering and maths will also increase.
The key for Nigeria, then, will be to adopt an innovative mindset and focus on skills development to ensure that digital transformation opportunities can be filled – and led – by professionals. It will also mean that now, more than ever before, Nigeria must become a creator, and not just a consumer, of technology. The public sector needs to lead the way, setting the example for inclusive transformation that benefits all.

So what can government do for this revolution to thrive?

1. Eliminate traditional methods of its operations
Governments across Nigeria need to replace traditional approaches to delivering citizen-centric services with innovative solutions powered by technologies such as cloud computing. Several countries are already well on their way. In Morocco, for example, a service known as e-Notary digitizes the top five administrative services used during litigation. Thanks to a biometric eKiosk, citizens can create a once-off biometric link to their online profile, allowing them to access services remotely. Over the years, spending in government services has risen dramatically – and is continuing to do so.
Cloud computing will enable governments to not only streamline their processes and service delivery, but enhance data collection and analytics. Government data collection and analysis can empower industries to compete on a global level by making information available on current trends, predicting future opportunities and even devising modern marketing tactics. Regulations are essential to create a regulatory environment that promotes innovative and confident use of technology. A balance must be struck between the free-flow of data and information, and privacy policies.
As governments continue to invest in digital transformation, civil servants need to be trained on how to optimize these innovations. As more tasks become automated, public-sector resources will be freed up to focus on better service delivery. Initiatives such as Microsoft’s 4Afrika School of Government aims to facilitate this, by partnering with governments on internal capacity building for civil servants, to embrace innovation and to be change-agents in the public-sector space.

2. Bring everybody together
There is a concern that digital transformation could increase Nigeria’s income gap even further, as automated jobs leave the working class unemployed. The key is skills development in STEM fields, especially artistic and creative ones. As Nigeria works to shift from a labour-based economy to a knowledge economy, investments in 21st-century education and skills development is no longer an option but an imperative. Strategies and policies for future skills and jobs will remain key in transforming lives, generating prosperity and promoting social inclusion.

3. Allow free flow of information
Data is emerging as the new currency for the digital age, creating new opportunities never imagined in the past revolutions. In the Fourth Industrial Revolution, data is what cotton was in the First Industrial Revolution. As more governments decentralize decision-making and increase responsiveness, they are seeking to empower more citizens by putting meaningful data in their hands. Democratization of information will play a key role in levelling the playing field. The prevalence of mobile phones should enable people across Nigeria to take part in politics, cast their vote and getting in touch with their political leaders.
However, more needs to be done – especially at the regulatory level – to increase affordable internet access so more people can participate in the economy of information. Countrywide broadband provides access to the creation and consumption of a wide range of applications and services necessary for effective economic and social participation.

4. Create a new playing field for new business models
The enterprising spirit of Nigeria’s youth reflects how Nigerians are becoming innovative in finding locally relevant solutions to daily challenges in health, agriculture and education, among other areas. How are governments in Nigeria tapping into this innovative spirit and readying young people to compete globally, this ensuring faster and quicker business growth?
As we move into the new revolution, a business-friendly environment and culture of entrepreneurship will be key. Nigeria needs to enable the growth of businesses that are creators of technology, not only consumers of it. A locally skilled workforce, updated legislation in the realm of cybersecurity and data privacy, affordable bandwidth, and a culture of innovation will promote growth of these types of businesses.
Governments play a pivotal role in creating an enabling environment for new business models and investment. Today, Microsoft is helping governments streamline regulations and ease-of-doing-business by using cloud computing. This enables investors to easily navigate the complexity, time and cost of complying with business governance and regulations on the continent.

5. Collaborate to innovate
As governments in Nigeria continue to aim for economic growth, good governance, innovation in local economies and the creation of jobs, most (if not all) will continue to encounter many challenges in the delivery of services to citizens, to business, or in relation to intra-governmental operations. The ability of these governments to adapt and drive digital transformation across all segments of society will determine their competitiveness.

If Nigeria can embrace a world of disruption and change, it will endure. With the kind of entrepreneural spirit that abounds in the nation , it will also deliver on its promise to be the next “growth pole” of the world not just as "Africa's Giant".

Very sound and intelligent post



Thank You Op

Nice write up op