The growth of technology in Nigeria is no longer just a trend but a vital part of the nation’s socio-economic framework as the path to developing innovative technology in the country is both inspiring and demanding, reports

Innovation is the heartbeat of technological advancement. In Nigeria, its introduction into local tech development is reshaping the landscape.

With a population of over 200 million people and a youthful demographic, Nigeria is poised to harness innovation for transformative change. Innovation in local tech development begins at the grassroots level.

Initiatives such as tech hubs, hackathons, and coding boot camps are being established across major cities and even rural areas.

These platforms provide young developers and entrepreneurs with the tools, skills, and mentorship needed to innovate solutions that address local challenges.

Nigerian innovators are focusing on homegrown solutions tailored to address specific local issues, such as unreliable power supply, inefficient transportation, and limited access to healthcare.

For instance, startups like Flutterwave and Paystack have revolutionised digital payments in Africa, solving key financial inclusion challenges.

Nigeria’s technology ecosystem has witnessed remarkable growth over the last decade. The rise of hubs like Yaba in Lagos, often dubbed “Yabacon Valley,” is a testament to the country’s potential in the tech sector.

These hubs are breeding grounds for startups and innovation, attracting both local and international attention. Key to this growth has been the increasing accessibility of the internet and mobile technology.

With over 100 million internet users and a mobile penetration rate of around 50 per cent, Nigeria provides a fertile ground for digital innovation. Nigeria has witnessed a surge in ICT penetration, with increased internet connectivity, mobile phone usage, and a burgeoning tech startup ecosystem.

However, challenges such as inadequate infrastructure, limited digital literacy, and cybersecurity threats persist. Despite the progress, there is a noticeable gap between urban and rural areas in terms of ICT access and utilisation.

According to industry experts, enhancing broadband penetration and upgrading network infrastructure are pivotal. This involves incentivising private sector investments, leveraging public-private partnerships, and prioritising rural connectivity to bridge the urban-rural digital divide.

Again, they believe that investing in digital literacy programmes, STEM education, and vocational training tailored to ICT skills is essential. This will empower the workforce to leverage emerging technologies and drive innovation.

Fintech revolution is one of the opportunities presented for the tech ecosystem to grow in Nigeria. Financial technology has become one of Nigeria’s most successful sectors, with companies developing solutions that cater to both the banked and unbanked populations.

Fintechs are providing services such as mobile payments, digital lending, and online banking, addressing gaps left by traditional financial institutions. There is also opportunity in the aspect of Agritech and food security.

Agriculture is the backbone of Nigeria’s economy, and technology is playing a crucial role in transforming this sector. Agritech startups are using data analytics, drones, and mobile platforms to improve productivity, supply chain management, and market access for farmers.

The healthcare system in Nigeria faces significant challenges, including accessibility and affordability. Healthtech startups are bridging the gap by providing telemedicine services, mobile health solutions, and digital medical records, improving healthcare delivery across the country.

With a growing middle class and an expanding internet user base, e-commerce is booming in Nigeria. Startups like Jumia have paved the way, and there is still room for innovation in logistics, payment solutions, and customer service. likewise, Nigeria’s education system faces challenges such as overcrowded classrooms, a shortage of qualified teachers, and inadequate resources.

Edtech companies are stepping in with solutions ranging from online learning platforms to educational content delivery through mobile apps, catering to the needs of students across different

The regulatory landscape in Nigeria can be unpredictable and complex. Startups often face challenges in navigating government regulations, which can stifle innovation

regions.

While the opportunities are vast, building innovative technology in Nigeria comes with significant challenges.

The challenges include infrastructure deficit, regulatory environment, access to funding, shortage of expertise, security and others.

Despite the growth in mobile and internet penetration, Nigeria’s infrastructure, particularly electricity and broadband, remains inadequate.

Frequent power outages and limited access to reliable internet hinder the development and deployment of tech solutions.

Despite being epileptic in supply, the tariff of electricity has skyrocketed beyond the power of many operators. Telecom operators have continued to lament as they incur higher cost on diesel to power their generators and machines.

The regulatory landscape in Nigeria can be unpredictable and complex. Startups often face challenges in navigating government regulations, which can stifle innovation.

The lack of clear policies, especially in emerging sectors like fintech and cryptocurrencies, adds to the uncertainty.

Reviewing and updating existing policies to align with global best practices and accommodate technological advancements is crucial.

Policy consistency, transparency, and inclusivity are vital for fostering a conducive environment for technology growth and investment.

Encouraging innovation hubs, incubators, and accelerators can foster a vibrant startup ecosystem. Providing financial support, mentorship, and access to markets are required to nurture indigenous tech solutions and promote innovation.

Although venture capital is increasing, access to funding remains a significant barrier for many Nigerian startups. Earlystage startups, in particular, struggle to secure the necessary capital to scale their operations.

This funding gap limits the ability of innovators to bring their ideas to fruition.

While Nigeria has a large and youthful population, there is a shortage of skilled professionals in critical areas like software development, data science, and cybersecurity.

The brain drain phenomenon, where talented individuals move abroad for better opportunities, exacerbates this challenge.

The Chairman of Association of Licensed Telecoms Operators of Nigeria (ALTON), Engr. Gbenga Adebayo, raised concern over the rate at which the country is losing its tech talents to other countries.

Adebayo said the situation is dangerous to the development of indigenous technology as he called on the Federal Government to make concerted efforts to put an end to youths migration, especially the professionals and talented ones.

According to him, “Mlmany youths in IT sector have migrated to other countries, leaving us grappling fir limited skilled ones still with us.

They fact is that, not everyone of those who have left the shore of this country are doing well.

Some of of posting how much they are being paid in pounds and dollars usually fail to tell us their bills “The government should push measures in place to retain the few skilled hands we have now and all to attract those who are already outside the country.”

Nigeria faces significant security challenges, including insurgency in the northeast, kidnappings, and cybercrime. These issues have continued to deter investment and complicate the operations of tech companies, particularly those in regions affected by insecurity.

Experts said strengthening cybersecurity frameworks, enhancing collaboration among government, industry, and academia, and raising awareness about data privacy are paramount.

According to them, a robust cybersecurity infrastructure is essential to safeguard digital assets and foster trust in online transactions.

Despite these challenges, the future of technology in Nigeria is promising. Industry analysts and experts have suggested some strategies to build a more robust and innovative tech ecosystem in Nigeria.

According to them, the government and private sector must collaborate to improve Nigeria’s infrastructure, particularly in power and internet connectivity, while encouraging investments in renewable energy and broadband expansion as critical to supporting tech innovation.

While foreign investment is important, there is a need to stimulate local investment in tech startups. Incentives for local investors, such as tax breaks and matching funds, can encourage the growth of homegrown ventures.

They noted that clear and supportive regulatory frameworks are essential for fostering innovation.

As they say, policymakers need to engage with the tech community to create policies that encourage growth while protecting consumers and the economy. Tech stakeholders also underscored investments in education and training to developing a skilled workforce.

Initiatives like coding boot camps, tech scholarships, and partnerships with global tech companies can help bridge the talent gap. Beyond infrastructure and funding, they believed that fostering a culture of innovation is vital.

This includes supporting entrepreneurship, encouraging risk-taking, and celebrating successes within the tech community.

Last line

Nigeria is at a pivotal moment in its technological journey. The foundations have been laid, and the potential for growth is immense.

The road ahead may be challenging, but with the right strategies and a collective effort from all stakeholders, Nigeria’s tech future is bright.