By 2030, I expect 80% of richest Nigerians to have made money from technology. Nigeria is having its finest cambrian moment on the formation of enduring companies. The last time we were this bold, on entrepreneurial capitalism, was in the early 1990s when some of Nigeria’s current leading banks were established.
The 1990s gave us the new generation banks. The 2000s brought voice telephony. The 2010s ushered mobile internet. The 2020s would deliver the era of application utility across industry sectors and market territories.
We will see software systems change the ordinance of markets by “eating” frictions along the way. From education to healthcare, from financial services to logistics, and beyond, it would be exciting. The empires of the future are being built – get ready, Nigeria is a promise!
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2030 may be too short, depending on what we do now. Some of the kids that should be part of the digital future are being kidnapped and scared away from school, for some mundane reasons. Digital penetration and utility rate is what will create those richest people, not because less twenty percent of the population can talk tech.
The digital literacy in the land is still very low, you cannot have richest people in the land from technology, if the foundation is faulty and shaky.
What is currently playing out is fundraising millionaires, and not really mass adoption of technology or significant shift in mentality; the education that ought to inform and liberate obviously failed in such lofty expectations, so you still need another round of education to make technology go mainstream.
Instead of dismantling old structures and creating new frameworks, some are fighting with their lives to keep everything as it is; the richest people club will change hands only when there’s significant shift in mentality.
We are not as great as we think we are…
I absolutely agree with you. The reality, by the current trajectory of the country, is that there may be no Nigeria by 2030. I believe that any projections made for Nigeria should no exceed 5 years.