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FG eyes N30.4trn from Abuja Tech City

The federal government says it is hoping to make about £16billion (N30.4 trillion) from the establishment of the proposed Abuja Technology City, the Minister of…

The federal government says it is hoping to make about £16billion (N30.4 trillion) from the establishment of the proposed Abuja Technology City, the Minister of Innovation, Science and Technology, Chief Uche Nnaji, has said.

Nnaji who disclosed this during the signing of a Memorandum of Understanding (MoU) with a United Kingdom (UK)-based consortium, Domineum/Edenbase, for the establishment of a technology city in Abuja on Thursday expressed optimism that the federal government would recreate such huge success from the developer of the London Technology City.

He hinged this against the backdrop of the over £61bn the company made in its fifth year of operation of the London Tech City.

On Nigeria’s readiness for the collaboration, the minister said the signing of the MoU laid the foundation for the participation of a key player in Tech City project by establishing the general framework that facilitates collaboration and cooperation for technology transfer between the two UK consortium and the federal government.

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The minister said the government is committed to ensuring sustainable industrialisation through the establishment of tech cities across the country, adding, “Government is well aware that tech cities are the catalysts for rapid industrialisation in a country and enhancement of operational synergy within critical sectors.

“This is evident in the results from the Silicon Valley project and the Tech Parks in the UK, Singapore and South Korea.”

Representatives of the UK Consortium, Messrs. Geoffrey Nwosu and Satesh Melwani, acknowledged that the London Technology City, though artificially created unlike the Silicon Valley, was a success story.

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