Tinubu pledges sustained investment in digital technology

President Bola Tinubu says his administration will continue to sustain investments in digital technology to enhance the sustainability of small businesses.

Tinubu said such investment would also expand opportunities across sectors and propel Nigeria to become the lodestar of information and communications technology in Africa.

He said this in Abuja on Thursday when he received a delegation from Meta Platforms Incorporated, led by Sir Nick Clegg, former UK Deputy Prime Minister and Meta’s President of Global Affairs.

The President said that Nigeria was opening up channels of opportunities in information and communications technology, deepening capacity, and fostering partnerships in order to catch up with global technological advancements.

He said that the administration has engaged in the 3MTT programme that would train three million Nigerian youths in digital technology and essential skills before deploying them to innovation hubs across the nation.

The President said that Nigerian youths are the most critical asset in Nigeria’s arsenal as it moves to achieve digital economic expansion.

“For us in Nigeria, we have a vibrant, gifted and resourceful youth population. Recognising that the future is most likely to be AI-enabled, we have to prepare our youths and make them ready to compete and participate in the global economy.

“I can assure you that Nigeria is open for business and we want to lead the African continent in digital technology.

Data is valuable to our development. We are ready to cooperate on technological advancements. It is the only way to go. We need a collaboration that will be a win-win for all,” Tinubu said.

The President said he is committed to ensuring that technology is deployed, adapted, enhanced, and used to catalyse growth across a vast majority of micro businesses, spurring mass prosperity down the line.

“What interests me is the use of technology in the development of small businesses.

“We need to make the business environment more conducive for you and more profitable for us as well.

I hope we can collaborate and continue to promote our mutual interests,” Tinubu said.

Earlier in his remarks, Clegg thanked the President for an executive order he issued, which enabled the landing of the Meta-backed deep-sea cable in Nigeria.

“It is an extraordinary infrastructure project. When it comes on stream in the first quarter of 2025, it will be twice as much as the capacity of all subsea cables that exist.

“We buried the cable 50 per cent deeper than any other subsea cables under the seabed.

“It is more powerful and more extensive in terms of its geographical connectivity. It could yield up to 37 billion dollars worth of increase in economic activity in the next two or three years across the African continent,” he said.

Clegg also said, In June, Meta would introduce a feature on its Instagram app to allow Nigerian creators to monetize their content to enable them to earn a living using the app.

“We have a lot to do with Nigeria to deepen partnerships,” he added.

Dr ‘Bosun Tijani, Minister of Communications, Innovation and Digital Economy, said Meta platforms are critical platforms in Nigeria, adding that opportunities for partnership and engagement are essential to promoting development in the digital economy sector.

“We must continue to engage to create opportunities for our people so they can also share in global prosperity.

“Digital technology is an opportunity to connect Africa to contribute to the development of the world,” the Minister said.