Nigerian techpreneurs

June 2, 2021

Nigeria’s Techpreneurs

The number of Nigerian techpreneurs is on the rise. There exist so many smart people in the country. Since the Internet is the backbone of business in many African countries, there has been a proliferation in information technology and fintech in the region.

This has prompted tech entrepreneurs to set up businesses based on Internet technologies and the rise of investment platforms.

The impact of technology in Nigeria

This has been dramatic. Technological developments have resulted in greater functionality, increased productivity, and improved quality of life.

Technological advances are significant in the Nigerian technology industry, where most populations are underprivileged, and access to advanced education and health services is limited. Technological change is also playing a pivotal role in Nigeria’s future growth and prosperity.

The most promising tech businesses in Nigeria translate the Nigerian culture’s expertise to online platforms. Entrepreneurs that offer such solutions make reasonable amounts of money and contribute usefully to ordinary consumers.

Technology in West Africa

Nigeria boasts of numerous IT service providers with advanced technologies. These Technology entrepreneurs are making contributions to shaping the future of the country and improving financial services.

Several leading companies offer customized solutions in different industries such as communications, entertainment, finance, health care, and automotive.

These firms have made their presence known by launching websites and launching promotional campaigns in various mediums.

Nigeria technology development

Efforts by the Government of Nigeria to improve the quality of life through technology should be backed by an ambitious policy and support for such businesses to foster, develop and create employment opportunities.

But, this potential isn’t being fully exploited due to social, economic, financial and cultural barriers that hinder their growth.

Despite the promising opportunities in the technology industry, Nigeria’s economy is lagging behind life changing solutions that many African nations are enjoying.

This is partly due to corruption in the country, a lack of belief in science, and a lack of strategic planning by the government.

Presently, compared to other fast-growing African countries in terms of the number of patents awarded per year the country is behind. The future of technology in Nigeria can only be described as “shocking.”

The lack of proper infrastructure has prevented the government from developing key economic sectors such as transport, petroleum, and information technology.

As a result, these sectors have lagged behind technological developments compared to other African countries. Which creates the problem where Nigerian techpreneurs look for new markets and networks of tech in order to earn large profits instead of pioneering innovations.

In spite of this setback, the Nigerian market continues to grow. Young people are the driving force behind this growth.

But there still exist a shortage of skilled professionals, mentioned below

Software developers
Health care technology
Machine learning

Future of Technology in Nigeria

If such a gap isn’t breached, the surrounding youngsters will continue to venture into sustainable businesses and are forsaken the Nigerian startup space. The government should encourage young people to develop communities and entice tech startups to shop there.

By creating conducive environments for both entrepreneurs, and tech startups in Nigeria.
Young tech entrepreneurs need a lot of tech guidance to help them set up shop. This industry is a challenging one. In addition to providing quality infrastructure and accessible services, they also need affordable incentives to grow.

Lagos and Abuja have emerged as the top places for start ups. According to a survey conducted in January by the National Institute for Transforming and Electronics Industry Research (NIEER), the city of Lagos has the most number of tech startups per capita than any other African city.

An encouraging thing about Lagos and Abuja is that the society sharpens the young Nigerians residing there to innovate. They have access to the global market. As a result, when they set up shop, they have a higher success rate.

Which shall enable them to compete with multinational companies. For this reason, if you are looking to set up an internet technology business in Abuja or Lagos, or anywhere within the country Nigeria, you should consider targeting this segment of individuals. And the Cans Nigeria is a treasure hove for such talents.
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