Bola Tinubu, Nigeria’s President, has said that his administration is investing in digital technology to support small businesses, expand opportunities across sectors, and position the country as a leader in information and communications technology.
President Tinubu said this on Thursday when Nick Clegg, Meta’s President on Global Affairs, paid an official visit to the Aso Villa in Abuja, the nation’s seat of power.
When he received the high-powered Meta delegation, the President said that he is committed to deploying and enhancing technology for SME’s, catalysing growth and prosperity. He also added that, “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.”
“For us in Nigeria,” President Tinubu said, “we have a vibrant, gifted, and resourceful youth population. Recognizing 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.
Bola Tinubu, Nigeria’s President.
The Meta Platforms Incorporated, was led by former UK Deputy Prime Minister and Lead on Global Affairs, Sir Nick Clegg. During the meeting, the Nigerian President emphasised the importance of Nigeria keeping up with technological advancements and outlined his administration’s efforts to open up opportunities in information and communications technology, build capacity and foster partnerships to achieve this goal.
“For us in Nigeria,” President Tinubu said, “we have a vibrant, gifted, and resourceful youth population. Recognizing 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. 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.”
On his part, Dr. ‘Bosun Tijani, Minister of Communications, Innovation, and Digital Economy (FMCIDE), said that Meta platforms are critical platforms in Nigeria, and as such opportunities for partnerships and engagement are essential to promoting development in the digital economy sector.
According to the Minister, “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.”
Sir Clegg thanked the President for enabling the landing of the Meta-backed deep-sea cable in Nigeria, calling it an extraordinary infrastructure project.
He said, “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 percent 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”
In addition, he stated that: “We have a lot to do with Nigeria to deepen partnerships”.
Clegg assured that Meta will introduce a new feature on its Instagram app in June 2024. This feature will enable Nigerian creators to monetize their content, allowing them to earn a living through the app. The company stated that it has plans to deepen its partnerships with Nigeria.
