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Can Innovation Solve Nigeria’s Most Pressing Economic Challenges?

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A closer look at Lagos, Abuja and other business hubs in Nigeria, one finds it easy to see the progress made through innovations and the effects on these cities – busy streets, construction of skyscrapers, construction and commissioning of some of the shopping malls, and an emerging 24-hour business culture driven largely by a Business Process Outsourcing (BPO) boom.

It is expected that the country would remain on the speed-lane of economic growth, thus, the economy will continue to flourish even in the era when oil price at the international market has gone as low as $40/barrel; but, in general, the economy is facing enormous challenges at the moment.

Yes, in the midst of this larger growth picture, it is not easy to forget that there are numerous areas in the country where it becomes immediately apparent that it is still a developing nation.

In fact, Nigeria’s economic situation depicts a picture of an economy in disarray; getting worse by the day and represents a bleak future for the youths in particular.

For instance, one of the Nigeria’s most pressing challenges is unemployment! The country’s unemployment rate was recorded at 12.1 percent in March quarter of 2016, up from 10.4 percent in the fourth quarter of 2015, reaching the highest since December of 2009. The number of unemployed persons rose by 18 percent to 9.485 million, employment grew a meagre 0.12 percent to 69 million and labour force went up 2 percent to 78.4 million. Meanwhile, youth unemployment increased to 21.5 percent from 19 percent. Unemployment rate in Nigeria averaged 9.04 percent from 2006 until 2016, reaching an all-time high of 19.70 percent in the fourth quarter of 2009 and a record low of 5.10 percent in the fourth quarter of 2010, as reported by the National Bureau of Statistics (NBS).

What is the way forward?
There is no need beating about the bush. To overcome the impending unemployment and economic kegs of ‘gunpowders’, there is urgent need to explore non-oil sectors towards achieving sustainable development in Nigeria.

Therefore, innovation is key! Actually, innovation has been one of the major buzzwords in the corporate world in recent years, spreading not only at the corridors of technology hubs and labs, but also corporate institutions in emerging economies like Nigeria.

Global Innovation Index
Unfortunately, in the latest Global Innovation Index which ranks the innovation performance of 128 countries and economies around the world, based on 82 indicators, Nigeria appeared on that index as a country far away from innovation because Nigeria does not invest in Innovation.

In the report countries like Mauritius, South Africa, Kenya, Rwanda, Mozambique, Botswana, Namibia, Malawi made the list of top innovative countries in Sub-Saharan Africa.

Mauritius takes the top spot among all economies in the region (53rd), followed by South Africa (54th), Kenya (80th), Rwanda (83rd), Mozambique (84th), Botswana (90th), Namibia (93rd), and Malawi (98th).

Since 2012, Sub-Saharan Africa has counted more countries than any other region among the group of “innovation achievers” – countries that perform better than their level of development would predict. This year, Kenya, Madagascar, Malawi, Mozambique, Rwanda, and Uganda stood out. Better rankings on the indicators for institutions, business sophistication, and knowledge and technology output have allowed the region to catch up to Central and Southern Asia, and to overtake Northern Africa and Western Asia.

Average regional performance shows strengths in the ease of starting a business, ICTs, business-model creation, and relative expenditure on education, with weaknesses in firms conducting global R&D, high-tech exports, the quality of local universities and number of scientific publications. In general, further efforts are required in Human capital, Research and Infrastructure.

So, it is not surprising to see that a country like Nigeria, despite her great potentials, is yet to make investments in innovation; that really shows how the country leads with no future.

Innovation for Economic Growth
Innovation for any country or people does not come by mere wishing it, Innovation is driven by huge investments in research and development, promoting greater entrepreneurship spirit. These are the bedrocks on which prosperous economies are built.

It is easy to know where a country or continent is heading to by what they are investing their time and money in today. Nations who are looking at the future invest in research and development, so it becomes easy to understand and see where the future is going with technology.

No wonder countries like the Switzerland, Sweden, United States, the UK, Israel, Finland, Japan, Korea, China, Germany are among the leading economies around the world. They are also the most innovative countries.

They invest in Technology, Innovation and Entrepreneurship through Research and Development. They are investing in Artificial intelligence, Robotics, Aerospace explorations, Nanotechnology, Internet of Things,3D printing, Human-centered designs you name it.

To this end, it is important for both government and private organisations to rally round the Organisers of proposed “Nigeria Innovation Summit”(www.innovationsummit.ng) with the theme: Innovation: A Key Driver Of Economic Growth And Sustainable Development; an annual event that focuses on the need for the country, businesses, organisations, entrepreneurs across Nigeria to become more innovative and apply innovation to drive sustainable development as we work together to bridge the digital divide.

The summit
The summit slated for 3-4 November 2016 at Sheraton Hotel Ikeja, is an initiative led by Emerging Media and Advertising Services, New York and Emerging Media Nigeria.

As they set to partner with the world’s leading innovation providers from academia, government and industry to connect Nigerian businesses and Innovators to global innovation ecosystems; no doubt, this will help Nigeria embrace innovation and move in the direction of digital transformation through the use of Emerging Technologies and Trends, Research, Development, Commercialization, Entrepreneurship and Investments as the key drivers of an innovation ecosystem and sustainable development. There is no better time to promote innovation in Nigeria than now.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Lagos Govt Drags Top Firms to Court Over Billion-Naira Tax Debts

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Lagos State has dragged 45 individuals and firms, including Bi-Courtney Aviation, DAAR Communications and Leaders & Company, to revenue court for tax debts running into billions of naira.

Lagos Govt Drags Top Firms to Court Over Billion-Naira Tax Debts

Lagos Govt

Bi-Courtney, operators of Murtala Muhammed Airport Terminal Two, faces N38.7 million claim; DAAR, behind Africa Independent Television, owes N22.4 million; ThisDay publishers Leaders & Company allegedly skip N67.1 million.

GMT Energy Resources tops corporates at N145.8 million, followed by Sheriff Deputies at N132.1 million; others like Heyden Petroleum, AA Rescue, BRT operator Primero also listed.

Individuals owe N13.5 million to N35 million each.

Attorney-General Lawal Pedro said suits followed ignored notices, aiming to enforce laws and fund infrastructure.

More defendants: IENG Nigeria, James Fisher, V Care Diagnostics, Venture Garden, Saro Africa, Barry Callebaut, Native Media, First Consulting, Eyowo Payments.

Compliant taxpayers post-notice escaped prosecution; defaulters risk penalties, interest, jail.

Pedro urged prompt filings and payments.


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Beware of Fake Cerelac Products – NAFDAC

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National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians on counterfeit and unregistered Cerelac Mixed Fruits and Wheat products being sold in Lagos.

Beware of Fake Cerelac Products – NAFDAC

NAFDAC said Nestle Nigeria, the genuine Marketing Authorisation Holder of the product, received a complaint of suspected counterfeit purportedly manufactured by Nestlé Spain, bearing Batch Code 308002910.

It said that Nestle Nigeria reported that the complainant described that the counterfeit product emitted an odour suggestive of possible contact with fuel.

NAFDAC said that preliminary review of the product by Nestle Nigeria indicated that it had expired, in spite of the container displaying an expiry date of 10-2026, which suggested that the date coding had been tampered with (revalidated).

Nestle Cerelac Mixed Fruits and Wheat is a nutritious infant cereal, designed to be a delicious first food for infants.

NAFDAC said that its post-marketing surveillance’s directorate officers in Lagos conducted a surveillance visit to Maxland Shopping Centre, 193 Ago Palace, Okota, where the product was purchased by the complainant.

It added that the suspected counterfeit and unregistered Cerelac were found on sale at the premises and subsequently mopped up, while Nestle assisted in identifying the distinguishing features between registered and unregistered product.

According to the regulatory agency, Nestle revealed that the unregistered product used a hyphen (-) to separate the day from the year, while the registered product used a slash (/) to separate the day from the year.

“It is important to note that Nestle Nigeria is not aware of the channels through which the products are supplied into the country.

“Healthcare professionals and consumers are advised to report any suspicion of the sale of substandard and falsified regulated products to the nearest NAFDAC office, call 0800-162-3322, or send an email to [email protected],” NAFDAC said.

The agency warned that counterfeit formula often lacked essential nutrients, vitamins and minerals, leading to stunted growth or developmental issues.

It said that such formula might also contain contaminants that might lead to severe health consequences to infants or even death.

NAFDAC reiterated its commitment to safeguarding public health adding that it would continue surveillance activities to ensure the quality, safety, and efficacy of all NAFDAC-regulated products circulating in Nigeria.

It said that all zonal directors of the agency and state coordinators had been directed to carry out surveillance and mop up the revalidated product, if found within the zones and states.

The agency urged distributors, retailers, healthcare professionals, and caregivers to exercise caution and vigilance within the supply chain, to avoid the distribution, sale, and use of fake products.


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NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

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The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.

Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.

“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.

Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.

“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.

He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.

“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.

During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.

Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.

“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.

The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.

In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.

Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.

The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.

 


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