Nigeria to benefit $4bn in tech transfer from India
Nigeria is to experience huge technology transfer worth over $4 billion from India as the governments of both countries rekindle long-standing relationships at the third IndoAfrica ICT Expo which opened Wednesday in Lagos.
A statement from the organisers of the event said over 3,000 delegates from across Africa and India witnessed the inauguration of the technology event.
Already having a strong presence in Africa, India, through the conference is seeking stronger ties with Nigeria in particular, and has therefore offered its assistance in all areas of technology.
Along those lines, the Nigerian Minister of Communications, Barrister Adebayo Shittu, who led the ministers from India, Ghana and top officials from Ethiopia, Rwanda and other African countries to inaugurate the conference, in his address at the event, expressed the country’s readiness to partner with India in all possible areas to achieve a digital economy in the country.
As part of India’s commitment to Nigeria, Shittu said it is also financing a solar-based digital connectivity project that would cover 1,000 rural areas in Nigeria.
The minister, however, used the opportunity to invite Indians to invest in key Nigerian ICT projects, which include the establishment of ICT University and ICT development bank to cater to the specific financing needs of the ICT industry in Africa’s biggest market.
Earlier in his opening address at the conference, Sanjay Nayak, Co-chairman of India’s Telecom Equipment & Services Export Promotion Council (TEPC), said India remains the ideal partner for Africa as it shares the same vision and mission for technology growth.
According to him, India has developed quality technologies well-crafted to meet the needs of countries in the African continent, and which they can leverage on at competitive price.
Citing the key capabilities of Indian companies and what they can offer Nigeria, the minister said that Indian companies have developed the engineering capabilities and experience with smart innovations.
“They have the ability to train employees at scale; innovative business models at low cost. This makes them well-positioned to support the booming African ICT sector,” he said.