Enterprise Television – Nigeria Urged to Formulate Policies that Will Encourage Local Tech Devt
The Managing Director, BCX Nigeria, Mr. Ayo Adegboye has stressed the need for the federal government to formulate polices that would protect indigenous technology companies. He also called for policies that would encourage the upscaling of local technology solutions to commercially viable solutions.
According to him, “The Nigerian government has done tremendously well in managing the Nigerian economy in terms of policy formulation that drives economies of scale, but has not done much in the area of protecting indigenous technology companies that have bright future but are struggling to survive under a harsh business environment.”
He said: “For instance, the policy that allows the issuance of visa to foreign nationals on arrival is a welcome development that will boost investors’ confidence in doing business in Nigeria. But government needs to do more in the area of policy formulation to encourage local technology development.”
“Government must realise the need to support home grown technology, since the small and medium enterprises (SMEs) and FinTech that are driving home grown technologies, need government support that will protect their technology solutions and also assist in the commercial marketing of such locally developed technology applications that are currently shaping the way businesses are carried out in the country.”
We as technology experts, we will want to see more of government policies, tilting towards the encouragement and protection of knowledge-based development in the Information and Communications Technology (ICT) sector, he said.
Adegboye said that the implication of government not protecting local businesses through formulated policies is that foreigners would continue to occupy and take over businesses that Nigerians should have been controlling and managing. “I want to see policies that will support home grown technologies and also support the individuals that are behind the technologies. The idea of foreigners occupying some critical positions of the technology sector in the nation’s economy should be discouraged because it leads to capital flight of the nation’s resources, and this can be achieved through formulation of policies that will protect and encourage local technology development in the country.
He further added: “Expatriates are paid in foreign currencies and they will not invest in the country. But if Nigerians are made to occupy those critical positions, of which we have qualified and tested Nigerians who can occupy the positions, then it will lead to empowering Nigerians and their families and the money will remain in Nigeria and circulate within the country. It will also boost capital development.” According to him, most multi-nationals do not like doing business with up-coming startups, and the few that try doing so, come up with
stringent conditions that will be difficult to meet by the startups. So that situation must change through better government policies.
Adegboye explained that in most foreign countries, Nigerians are not allowed to occupy expatriate positions because their laws bar them from holding such positions. So I begin to wonder why we cannot have policies in place that will protect Nigerians in Nigeria.
Nigeria just came out of recession last year and businesses are trying to pickup. Business owners are looking forward to better business deals in 2018, as we await the passage of the 2018 budget. Expectations are high and business are hoping to grow their revenue base this 2018.
Making some calculated projections of the future development of technology in Nigeria, Adegboye said he foresees more convergence and development of 4GLTE complaint mobile devices at affordable rates in 2018 and beyond, that will empower every Nigerian to own a smartphone.
“We will see more of the FinTech players with their disruptive technology solutions this year and in the near future and there will be increased adoption of Internet of Things (IoT) to boost eCommerce and online connectivity. We expect to see more of government adoption and use of technology in governance and in elections, especially with the coming of the 2019 general elections, Adegboye said.