Vice President Yemi Osinbajo revealed that the development in the Information Communication Technology (ICT) sector has generated over $32 billion in Foreign Direct Investment (FDI) for the country over the last 15 years. He added that the ICT sector is currently contributing 10% of the country’s GDP and has created over 10 million jobs in the last ten years.The vice president noted that with the oil sector contributing 20% to the Nigeria’s economy in recent times, he said the current economic challenges confronting the country could be exploited to facilitate the goal of being one of the 20 biggest economies by 2020.
He stressed that this however depends on how citizens respond to the challenges and continued focus on developing the non-oil sector especially the ICT sector like what China, India, Singapore among others have done to develop their economies.
Osinbajo, was represented by the Minister of Communication, Adebayo Shittu, in the ICT Export Industrial Forum with the theme: ‘Embracing ICT Export as an Alternative Means to Diversify the Non-Oil Industrial Sector’ organised by Afritex Initiative, in Nigeria’s capital city, Abuja, FCT.
Earlier in his opening remarks, the Executive Director, Afritex Initiative, Ugwu Emeka, said the event was in line with her objectives to promote the rapid development and improves global competitiveness of the country’s ICT industry through research and development and through effective linkages to industry and academia.