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Nigeria Eyes $4bn Tech Transfer, FG Allays Fear of Indians Hijacking Industry
Nigeria is to experience huge technology transfer of over $4 billion from India as the governments of both countries rekindle long standing relationships at the third Indo-Africa ICT Expo which opened September 6th in Lagos with over 3,000 delegates from across Africa and India witnessing the inauguration of the technology event.
Already having strong presence in Africa, India, through the Conference is seeking stronger ties with Nigeria in particular, and has therefore offered its assistance in all areas of technology.
Along those lines, Barrister Adebayo Shittu, the Nigerian minister of Communications, who led the ministers from India, Ghana and top officials from Ethiopia, Rwanda and other African countries to inaugurate the conference, in his keynote address at the event expressed the country’s readiness to partner with India in all possible areas to achieve a digital economy Nigeria.
Shittu, who allayed fears of stakeholders in the ICT industry about the Indians coming to hijack the industry, said the coming of the Indians was sequel to discussions he had with the Indian business community in Geneva early this year, where they promised to come and invest $4 billion in the Nigerian IT industry.
As part of India’s commitment to Nigeria, Shittu said India is also financing a solar-based rural electrification project that would cover 1000 rural areas in Nigeria. The Minister however, used the opportunity to invite Indians to invest in the key Nigerian ICT projects, which include the establishment of ICT University and ICT development bank to cater to the specific financing needs of the ICT industry in Africa’s biggest market.
In his address at the conference, Sanjay Nayak, co-chairman of India’s Telecom Equipment & Services Export Promotion Council (TEPC), said India remains the ideal partner for Africa as it shares the same vision and mission for technology growth.
According to him, India has developed quality technologies well-crafted to meet the needs of countries in the African continent, and which they can leverage on at competitive price.
India, Nayak said, has the lowest telecom tariff rates in the world as a result of its cutting edge technologies. “We have end-to-end solutions, which are well suited for African needs” he said.
India’s Honourable Minister of Communications, Manoj Sinha, said the third edition of the Indo-Africa ICT Expo in Lagos has special significance, not only for India and Nigeria, but also for the entire Africa, adding that the success of the first two editions held in Kenya gave the organisers the confidence to shift the focus to West Africa.
“I strongly believe that the vast experience gained by India in setting up of ICT infrastructure can be leveraged by the governments as well as the private business enterprises in Africa. To explore synergies on the ground in ICTs, more than 50 ICT companies from India are participating in this ICT Expo” he said.
Citing the key capabilities of Indian companies and what they can offer Nigeria, the Minister said that India companies have developed the engineering capabilities and experience with smart innovations. “They have the ability to train employees at scale; innovative business models at low cost. This makes them well-positioned to support the booming African ICT sector” he said.
According to the Indian Minister, India and Africa are having similar demographic and ICT usage profile and should therefore work together to achieve common goal of establishing digital economy in respective countries.
“We are fully committed to share our ICT experiences, expertise and software skills with other countries in the developing world. India is also willing to explore opportunities of financing the emerging opportunities”.
The organisers, TEPC, is working in conjunction with the National Association of Software and Service Companies, (NASSCOM), which is the premier trade body and the chamber of commerce of the IT-BPM industries in India.
The TEPC stated that the vision of a knowledge based society “is built on an edifice where IT and Telecommunications merge,” adding that “rapid technological convergence has already established a symbiotic relationship between the development strategies of IT and telecommunications. IT flourishes on the telecom-network and in turn permits modern day telecommunications to use sophisticated IT-software.”
The Council says as Africa is among the fastest growing markets worldwide, improving macroeconomic indicators, conducive business environment, larger, younger and more affluent population, rising middle class – all are strong indicators of not only a source of capital but also of job creation, skills development, technology transfer, infrastructure development, responsible governance and most of all –sustained growth that eventually will lead to transformation of African economies!”
Other ministers at the conference include Mr. Vincent Sowah Odotel, Deputy Minister of Communications, Ghana and Mr. Getachew Negash Tekla, State Minister of Ethiopia’s Ministry of Communication and Information Technology.
Dignitaries at the inauguration of the conference include Dr. Ernest Ndukwe, former executive vice chairman of the Nigerian Communications Commission who is chairman of Openmedia Group, Mr. Olusola Teniola, President of the Association of Telecom Companies of Nigeria (ATCON), Engr. Gbenga Adebayo, Chairman of Association of Licensed Telephone Operators (ALTON) and Mr. Tayo Adeniyi, President of the Information Technology Association of Nigeria (ITAN), as well as Chief Charles Okeke, chairman of the IT/Telecom Trading Group of the National Association of Chambers of Commerce, Industry, Mines and Agriculture, (NACCIMA) and Mr. Ahmed Ojikutu, President of the Computers and Allied Products Association of Nigeria (CAPDAN).
Nigerian Maritime Administration and Safety Agency (NIMASA) and the Bank of Industry (BOI) have initiated discussions on strategies for capacity building in the maritime industry.
Dr. Dayo Mobereola, Director General of NIMASA, represented by the Executive Director of Maritime Labour and Cabotage Services, Mr. Jibril Abba disclosed this during a visit by the management of the bank led by Executive Director of Large Enterprises, Mrs. Ifeoma Uz’Okpala.
Osagie Edward, the agency’s Head of Public Relations, said in a statement that in addition to safety, security and maritime labour, the agency’s mandate encompasses capacity development aimed at growing the sector.
Also, Mobereola explained that NIMASA’s commitment to collaboration was a vital tool for achieving its mandate.
He said: “The aim is to actualise the vision of the Federal Government to reposition the maritime sector, especially with the creation of the Ministry of Marine and Blue Economy.”
Also, Uz’Okpala affirmed the bank’s readiness to support NIMASA, emphasising the importance of collaboration in implementing a robust capacity-building initiative that would contribute to economic growth in Nigeria.
She noted: “Bank of Industry Limited is Nigeria’s oldest and largest Development Finance Institution (DFI) currently in operation. It is owned by the Ministry of Finance Incorporated (MOFI) Nigeria (94.80 per cent), the Central Bank of Nigeria (CBN) (5.19 per cent) and private shareholders (0.01 per cent).
The federal government’s aggregate receipt of the Value Added Tax (VAT) in Q2 2024, stood at N1.56 trillion, indicating a growth rate of 9.11 per cent on a quarter-on-quarter (QoQ) basis from N1.43 trillion in Q1 2024.
The figure represents a 99.82 per cent increase compared to the N781.35 billion collected in the corresponding quarter of last year.
According to numbers released by the Nigeria Bureau of Statistics (NBS), On a quarter-on-quarter basis, the Q2 VAT rose by 9.11 per cent from N1.43 trillion in Q1 2024.
The data showed that local VAT payments recorded were N792.58 billion, foreign VAT payments stood at N395.74 billion, while import VAT contributed N372.95 billion in Q2 2024.
Analysis of the NBS numbers showed that human health and social work activities recorded the highest growth rate with 98.44 per cent, followed by agriculture, forestry and fishing with 70.26 per cent, and water supply, sewerage, waste management and remediation activities with 59.75 per cent.
Contrarily, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use had the lowest growth rate with –46.84 per cent, followed by real estate activities with –42.59 per cent.
In terms of sectoral contributions, the top three largest shares in Q2 2024 were manufacturing with 11.78 per cent; information and communication with 9.02 per cent; and mining and quarrying with 8.79 per cent.
“Nevertheless, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.00 percent, followed by activities of extraterritorial organisations and bodies with 0.01 per cent; and water supply, sewerage, waste management and remediation activities with and Real Estate Services 0.04 per cent each.
“However, on a year-on-year basis, VAT collections in Q2 2024 increased by 99.82 per cent from Q2 2023,” NBS stated.
Partners for the eighth annual conference of the Guild of Corporate Online Publishers (GOCOP) have begun to emerge with the Nigerian Content Development and Monitoring Board (NCDMB), Emadeb Group and Dangote Group leading the train of partners for the event slated for Thursday, October 3, 2024 at the Reverton Hotel, GRA Lokoja, Kogi State.
The chairman of the 2024 Conference Planning Committee, Danlami Nmodu, mni, also listed other partners to include Nigeria Civil Aviation Authority (NCAA), Setraco Nigeria Limited, United Bank for Africa (UBA) and Nigerian Communications Commission (NCC), according to a statement by
GOCOP Publicity Secretary, Sir Remmy Nweke.
Nmodu was also quoted as saying that the eighth conference would center on the theme: “Nigeria: Tackling Insecurity, Power Deficit, and Transitioning to Digital Economy” and will hold on Thursday, October 3, 2024 from 10am. The keynote will be delivered by former governor of Cross River State, Senator Liyle Imoke.
Read Also: Imoke, Buratai, Maida, others to headline GOCOP 2024 conference in Kogi
Additional partners for 2024, he said, comprised the Nigerian Safety Investigation Bureau, Access Bank plc, Zenith Bank plc, First City Monument Bank (FCMB), Fidelity Bank plc, Sovereign Trust Insurance Plc (STI), Nigerians in Diaspora Commission (NIDCOM) and National Film and Video Censors Board (NFVCB).
A major highlight of this year’s conference, Nmodu said, is a business luncheon with GOCOP partners on Wednesday, 2 October, at the same venue, while the conference itself would hold on Thursday, October 3.
Nmodu noted that the 8th edition would be chaired by former Nigeria’s Ambassador to Spain, Alhaji Yusuf Mamman, with the former Nigerian Chief of Army Staff, Lt-General Tukur Yusuf Buratai (Retd) and the Executive Vice Chairman, Nigerian Communications Commission (NCC), Dr. Aminu Maida as Guest Speakers, while a Professor of Political Science at the Federal University Lokoja, Prof. Rotimi Ajayi and an edutainment communicator and veteran broadcaster, Ms Debrah M. Ogazuma are panellists.
Nmodu recalled that GOCOP conference 2023 was chaired by the JAMB Registrar and Chief Executive, Prof Ishaq Olarenwaju Oloyede, while the first Nigerian Professor of Capital Market, Prof. Uchenna Joseph Uwaleke was the keynote speaker.
Previous speakers at the annual conference consisted of Rev. Matthew Hassan Kukah, the Bishop of the Catholic Diocese of Sokoto who delivered the 2019 lecture on “Economy, Security and National Development: The Way Forward.”
In 2021, Mr. Boss Mustapha, Secretary to the Government of the Federation, keynoted the Conference in his capacity as Chairman of the Presidential Task Force on Covid-19. He spoke on: “Post Covid-19 Pandemic: Recovery and Reconstruction in Nigeria.”
In 2022, Professor Mahmood Yakubu, Chairman, Independent National Electoral Commission, delivered the keynote entitled “2023 Elections: Managing the Process for Credible Outcome.”
GOCOP was established to ensure that online publishers uphold the tenets of journalism.
Membership of the Guild is a constellation of editors and senior journalists who, having distinguished themselves in their various positions in the print and electronic media, ventured into online publishing which is both the present and future of journalism globally.
The Guild has over 104 corporate publishers as members.
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