Experts say digital infrastructure critical to digital economy growth
By Felicia Nwosu
Speakers at the Information, Communication, Technology, and Telecommunications (ICTEL) Expo organised by the Lagos Chamber of Commerce and Industry, LCCI, has averred that efficient digital infrastructure is critical to the growth of the nation’s digital economy.
The two-day expo which had “Ensuring Efficient Digital Infrastructure in Nigeria” as its theme was held at Muson Centre Lagos and gathered Nigeria’s leading tech & solution providers, as well as other top key industry players like John Ajayi, publisher, MARKETING EDGE Magazine, Ayotunde Coker, Managing Director, Open Access Data Centres, Chidi Okpala, Head of Corporate Communications, Galaxy Backbone and Gbenro Dara, Chief Executive Officer, Octamile, provided insights into the challenges, opportunities and innovations in the Nigerian technological space. They were all in agreement as to the importance of efficient digital infrastructure for economic growth.
Ayotunde Coker, Managing Director, Open Access Data Centres, while focusing on how interconnected Africa is, revealed there has been a gap in digital infrastructure compared to its Gross Domestic Product and prosperity. He pointed out that it was imperative to attach greater importance to technology. He challenged Africans to strive to create the right environment for investment to thrive.
“It is a great future, technology is adding consistently more to GDP, I think it is about 17-18%. It is great to see because a few years ago, we said we would be doing 20% of the GDP in tech, so it is moving towards that. If you look at the overall impact on GDP, it is probably more like 60-70% because other aspects of the economy use technology. You don’t get unicorns when you don’t have entrepreneurs with the right governance and right ideas, delivering on the ideas they have. We also need more experienced people who are very innovative that will also coach the young people.”
The African digital infrastructure builder noted that the future of technology is huge and expressed the hope that both Nigeria and Africa are striving hard to ensure they become part of the global league in technology acceleration.
Chidi Okpala, Head of Corporate Communications, Galaxy Backbone, affirmed the huge growth in technology which he noted was driven by various ongoing conversations such as the ICTEL Expo by concerned individuals who share the same vision of growth for the tech space.
“Everyone is striving to set up a legacy that would help grow the Nigerian digital economy both from the private and public sector. People are looking for ways they can walk together by sharing strength and partnership so that we can build a much more efficient digital economy in Nigeria.”
Gbenro Dara, Chief Executive Officer of Octamile, a digital insurance infrastructure company, agreed that the growth of the digital market speaks for itself following the unprecedented disruption witnessed in the fintech space, which he said has immensely raised the values of these companies significantly.
“Without a doubt, there are lots of opportunities in the market, startups, generally need to find the areas where there are problems to be solved. Opportunities do exist. It is not most times around what government can o for you but how can we actually also solve problems with digital infrastructure, how can tech companies support projects with their private initiatives by building digital solutions”
The event which was held at Muson Centre, Lagos, also served as an avenue for networking opportunities and exhibitors to market and promote their brands.
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