The Nigerian-American Chamber of Commerce (NACC) has warned that Nigeria’s technology sector risks stagnation without reliable power, spotlighting energy infrastructure as the critical driver for digital growth.
Speaking to the News Agency of Nigeria (NAN), Acting Director-General of NACC, Ms. Wofai Samuel, stressed that “power is correlated to technology,” adding that “without it, how do we even drive technology?” Her comments come amid mounting concerns over Nigeria’s erratic electricity supply, which continues to cripple businesses and innovation efforts across sectors.
The ICT sector remains one of Nigeria’s strongest economic contributors, accounting for 17.68% of real GDP in 2024, up from 17.34% in 2023. In Q4 2024, telecoms alone contributed 14.40%, trailing only crop production and trade. Yet, Samuel insists this progress is unsustainable without energy reforms.
“If America is collaborating with regions like Saudi Arabia on tech, who are we in Africa not to follow suit?” she asked, citing Saudi Arabia’s recent $600 billion investment in the U.S. tech industry as a model of cross-border tech partnerships.
Samuel also pointed to Nigeria’s banking and fintech sectors as proof of technology’s transformative power. Citing a World Bank forecast, she noted that digital banking is one of the fastest-growing areas, driven by innovations in mobile and online platforms.
She called on policymakers, particularly ministers of communications and science and technology commissioners, to lead from the front. Their support, she argued, is essential to create a sustainable environment for digital innovation.
Samuel urged African tech startups to actively participate in local and global tech conferences to build partnerships and increase visibility. “Technology offers West Africa one of its best chances at economic diversification,” she said.
The Nigerian tech scene is growing, but the sector’s future depends heavily on energy security, strategic collaboration, and focused government policies.
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