FG to build $1bn ICT company – Shittu

28 July 2017


A plan to build a $1 billion Information and Communication Technology, ICT Company by the President Muhammadu Buhari administration to boost indigenous technology has been articulated.

“The plan to build a national ICT park and exhibition centre in Abuja as part of the preparations for the 4th Industrial Revolution is on course.

“Similarly, a plan to “build a $1 billion-dollar ICT company” to boost indigenous technology has been articulated,” the Minister of Communication, Mr. Adebayo Shittu disclosed while speaking at the Faculty of Law, University of Ibadan recently.

TheNewsGuru recalled President Buhari in his state of the nation address in 2015 had identified ICT as a critical pillar to leverage on job and wealth creation as well as on economy.

Shittu has reiterated that the Buhari government is committed to the change agenda using ICT.

“It is for this reason that, amongst others, we launched several initiatives and regulatory frameworks to help us achieve inclusive growth in the ICT sector and create jobs.

“Certainly, our country needs a different set of values that are predicted on retooling and reskilling our youths.

“We recognize that ICT and change will be key and that we must implement and not just talk about jobs and wealth creation,” he said.

Shittu said it is in line with diversifying the Nigerian economy and recognizing the role of ICT in making it a reality that government has established one form of ICT infrastructure or the other across the six geopolitical zones of the country.

“By the grace of God, we should have established in Nigeria an ICT University which will be the first of its kind in Africa before the next quarter with the sole purpose of providing training environment and training facilities to provide the local and global ICT industry with competent and skilled manpower in various sub sectors of the ICT sector,” the Minister stated.

He said government is prepared to use ICT to foster youth empowerment and development by way of giving of grants, loans, sponsorships, and financial support among other innovative schemes to lucrative business ideas.

He further said that “the Ministry is collaborating with Google and other development partners to retool and reskill our youth”.

“The Ministry will adopt new strategies and approaches that focus more on developing human capital, so as to close the huge gap that exists in public service performance potential in the ICT milieu.

“Leveraging on ICT is therefore critical to recession exit sooner than expected. Another major initiative towards enhancing job opportunities through ICT is my proposal for the establishment of an ICT Development Bank.

“I have directed the setting up of an Implementation Committee to formulate profound and realistic grounds for its establishment.

“It is hoped that this bank cushions the overbearing pressure of ICT companies in Nigeria of huge and scarce financial outlay to deploy equipment and facilities through the provision of venture capital and seed funding initiatives,” Shittu said.

Assuring the Buhari’s leadership will deliver, the Minister said, “our resolve has never been stronger”.

Source: The News Guru