Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, has expressed optimism about the continued positive trajectory of Nigeria’s ICT sector and its impact on the economy. He pointed to data from the National Bureau of Statistics (NBS), which shows substantial growth in Foreign Direct Investment (FDI) in the sector.
“The data from NBS continues to show a positive growth trajectory for our sector and economy as a whole,” Dr. Tijani noted. “With over $191 million in Foreign Direct Investment (FDI) in Q1 2024 alone, we have already surpassed the total FDI into the Telecommunication sub-sector for the whole of 2023.”
Dr. Tijani attributed this growth to the confidence in the potential of the ICT sector and the dedicated efforts of all stakeholders to reverse the previous slowdown. He emphasized that the sector remains a catalyst for economic growth.
“This growth in FDI is about confidence in the potential of our sector and a reflection of the hard work that all ICT stakeholders have put in to ensure that we reverse the slowdown in our sector so that it remains a catalyst for growth,” he stated.
As Nigeria enters the second half of 2024, Dr. Tijani is optimistic about sustaining this momentum, supported by reforms and policies aimed at stimulating inclusive growth. He acknowledged the efforts of President Bola Ahmed Tinubu in implementing measures to enhance the digital economy and the broader economic landscape.
“As we start the second half of the year, I’m looking forward to building on this momentum supported by the necessary reforms and policies that President Bola Ahmed Tinubu is putting in place to stimulate inclusive growth in the digital economy and the broader economy,” Dr. Tijani concluded.
Dr. Bosun Tijani’s remarks highlight the significant strides made in Nigeria’s ICT sector and underscore the importance of continued investment and policy support to sustain this growth.
