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Monday, December 10, 2018

Start-ups boost economy in Q3 with $101m - The Nation Newspaper

THE Director-General National Information Technology Development Agency (NITDA), Dr. Isa Pantami, at the weekend, said over $101 million was contributed to the nation’s economy in the Third Quarter of 2018 by Information Technology start-ups.

Pantami, who made the disclosure at a “Start Up Friday Progamme”,  organised by the  agency in Abuja, said the feat was unprecedented in the history of ICT sector in the country. He said more amazing performances were expected in the  sector in the coming years.

Pantami said the ICT sector contributed 13.63 per cent to the nation’s Gross Domestic Product (GDP) in the  Second Quarter of 2018,  assuring that this would likely increase by the third and fourth quarters.

“With the little efforts we have put in place, a lot has been achieved in the ICT sector today. In the case of ICT start-ups,  within  the first quarter of 2018, start-ups generated $9 million,  in the second quarter, they generated $57 million and recently in the third quarter, they generated $35 million.

“This is only within 2018. This achievement is unprecedented in the history of ICT sector in Nigeria,” Pantami said, adding that local IT content patronage had significantly increased as a result of strict enforcement of policies in the sector.

According to him, in 2013, over 82,000 ICT facilities of the local content were purchased, stressing that in 2014 and 2015, the purchase rose to 92,000, while in 2016,  the facilities purchased hit 150,000 mark.

The NITDA chief said the purchase rose to 300,750 in 2017, noting that the quantum leap in the purchase of hardware  component was largely due to the strict enforcement and compliance policy of the present administration on local content.

Dr Pantami said the event was organised to identify young innovators in Nigeria and encourage them on how to contribute their quota to the development of the nation’s economy, asserting that ICT and technological innovations are the way to go as far as modern economies are concerned.

“We call this event Start- Up Friday, but we are moving from one geo-political zone to the other;  we did one in each of the northwest, southwest, northeast and southsouth and this is Abuja, Northcentral and from here we will be moving to the southeast.

“The wisdom behind this is to identify our young innovators, who have potentials and see how they can be supported to achieve their dreams,“ he said.


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