The Federal Government will soon establish a specialized bank to cater to the development of the Information and Communications Technology industry, the Minister of Communications, Mr. Adebayo Shittu, has said at the 13th International Conference of the Nigeria Computer Society in Abuja recently, also disclosed that the proposed ICT University would take off in September.
Justifying the decision to establish an ICT development bank, Shittu said the regular banks could not cater to the needs of operators in the ICT industry because of the time it usually takes to develop ICT products and services from conception to the market. The minister said the proposed bank was provided for in the ICT road map, which had been approved by the Federal Executive Council.
“I am happy to inform you today that the Information and Communications Technology Roadmap has been approved by the Federal Executive Council. The ICT roadmap is a fundamental component of the Economic Recovery and Growth Plan 2017-2020 of the Federal Government,” he stated.
At the wake of 2000, the Federal Government of Nigeria embarked on an aggressive drive towards the provision of more efficient services in the nation through its privatization and deregulation policies the ICT subsector. The policy thrives led to the establishment of National Telecommunication Policy in December 2001. The policy, among other things, recognized the need for the establishment of an enabling environment for deregulation and rapid expansion of the telecommunication services in the country.
The policy objective was to develop globally competitive quality manpower in ICTs and related disciplines and environment. Consequently, attractive career opportunities will emerge in addition to the development of software and computer components that can earn the nation some foreign exchange. The implementation of ICTs policy led to the adoption of Global System for Mobile-Communications (GSM) and its related components in Nigeria.