Nigeria is one of Africa’s largest ICT markets in terms of its share of telecoms subscribers and internet users, according to the US International Trade Administration. The ICT sector is a critical driver of non-oil growth and a significant contributor to the country’s GDP. Furthermore, it is an enabler for digitalisation and the development...
Nigeria is one of Africa’s largest ICT markets in terms of its share of telecoms subscribers and internet users, and this sector is set to grow in 2021, even as other areas of the economy remain constrained by the pandemic. ICT is being prioritised as part of the country’s longer-term goal of developing a digital economy supported by its large, youthful population. Indeed, the government has...
With a population of over 200m, Nigeria is a large and diversified economy, despite the government’s reliance on oil and gas revenue. While the Covid-19 pandemic and subsequent oil price crash caused a contraction in economic growth in 2020, it also led to rapid digitalisation across commerce, education and communication. This shift is expected to put Nigeria in a favourable position for recovery in the medium term.
With a large youth population and growing network penetration, Africa has demonstrated its ability to innovate and technologically leapfrog mature markets.
While the Covid-19 pandemic severely impacted economies around the world as hospitals reached capacity, business activity slowed, and restrictions were placed on the movement of people and goods, recent reforms provided Egypt with a more secure economic base for resilience in the face of crisis.
A recent report has highlighted the significant potential of Nigeria’s burgeoning tech start-up scene, but also outlined a series of limitations that need to be addressed for the segment to emerge as a true engine of the country’s recovery from Covid-19.
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