Nigeria receives 30% of all FDI in Africa, according to NITDA.

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Nearly 30% of Africa’s foreign direct investment, according to Kashifu Inuwa, Director General of the National Information Technology Development Agency, goes through Nigeria. The Nigerian tech sector drew roughly $4.4 billion in investment in 2015, 2019 and 2020 combined, and ICT made up about 18.5% of the GDP of the nation.

The head of NITDA claims that the nation’s fintech businesses are almost twice as large as its largest bank.
We recently sent some startups to Riyadh for a competition, and two of them earned $150,000 apiece as global winners.

Inuwa added that by preventing ministries, departments, and agencies from duplicating projects, the agency had saved the nation money through the IT project approval.

He claims that from 2019 until to date, NITDA through the project has saved the country over N305bn from IT project implementation in MDAs towards improving effectiveness and efficiency in executing government IT projects across the country.


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