Business Nigeria For The First Time Invests in Local Software Development



For the first time in her history, Nigeria is set to roll out funding, in the sum of $9m, for local software development, Minister of Communication Technology, Omobola Johnson revealed at the kickoff of the DEMO Africa event in Lagos on Thursday.

The DEMO Africa event, which is holding in Nigeria for the first time since it was launched about three years ago will see 40 African start-ups pitch their solutions on how they intend to use technology to create opportunities and solve challenges. They are doing this with the hope of securing more funding that will enable them take their ideas and innovations to the next level, Ventures Africa says.

Omobola noted that there is need for African governments to leverage on internet opportunities which could directly create job opportunities that will generate income, create wealth, jobs, new business opportunities and economic expansion.

“One report highlights this potential and predicts that the internet can contribute up to $300 billion to Africa’s GDP by 2025 and this is from an estimated $18 billion in 2013,” she said.

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