Nigeria’s ICT sector to generate $18.3bn in 2026 – FG

The federal government has said that Nigeria’s ICT sector is projected to generate up to $18.3bn by 2026.

This was just as the Ministry of Communications and Digital Economy said the National Digital Economy and e-Government Bill would create an enabling environment for fair competition to promote innovation, growth and competitiveness in the Nigerian economy.

The bill, which aims to provide a legal framework for the development and regulation of the digital economy, was read for the first time on the floor of the House of Representatives this week.

Speaking at the first National Digital Economy with e-Governance stakeholders’ engagement with the media in Abuja yesterday, Dr Bosun Tijani said, “I hope this will be the first bill that travels across the entire country.”

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Tijani said for those who followed the growth and trajectory of the economy in Nigeria, “You probably know that the ICT sector contributes huge to our GDP.”

He further said, “We can compare it to agriculture, transportation or to whatever you think, but this sector is the backbone of any country today.

“Today is a very special day. Again, I can’t appreciate enough what Senator Salisu is doing under his leadership for this bill, because the bill we are here to discuss today will accelerate progress in our digital economy.

“You can imagine, with everything I’ve mentioned so far, there’s actually no clear legislation that is pushing competition and ensuring development in that sector.”

Tijani commended the Chairman of the Senate Committee on ICT and Cybercrime, Senator Salisu Shuaib, and the Chairman of the House Committee on Information and Technology, Representative Adedeji Omo, for their efforts in advancing the bill

In his welcome remarks, the Director General of NITDA, Kashifu Inuwa, said the whole idea of the bill was to serve as an enabler to ensure that “we are able to achieve the goals designed for Nigeria, especially under this government.”

Kashifu, represented by Barr Emmanuel Edet, said the essence of the bill was to enhance the use of digital economy in Nigeria, especially in government, as well as in the private sector.

On his part, Senator Shuaib said, “What we are here to discuss today has the potential to transform our nation’s digital economy and position us for sustainable development in Nigeria.

“The National Digital Economy and Legal Framework, which has undergone its first reading in the National Assembly, aims to provide a legal framework for the development and regulation of the digital economy.”