On a regular basis, we, either as individuals or groups, are expected to cross-examine our worth in a bid to ascertain the area that is in need of amendment. It also enables us to acknowledge the idiosyncrasies that ought to be maintained as the journey progresses.
The aforementioned method of assessment is not only essential for an individual or group of persons, but also in the case of a corporate body. Hence, it is essentially needed by all existing bodies.
This topic is basically interested in the technological worth of the acclaimed giant of Africa. In other words, we’re x-raying how far and well she has hitherto fared in tech issues and activities.
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One might ask, does Nigeria really have technology, let alone x-raying its value? The truth is that the country could currently boast of over ninety tech hubs across the federation, the highest on the African continent.
In recent years, Nigeria has ostensibly become an incubator for some of the continent’s biggest start-ups, including online marketplace such as Jumia and Konga; and these digital outlets are unarguably driven by tech expertise.
It’s noteworthy that Nigeria reportedly has the largest economy in Africa with a Gross Domestic Product (GDP) of about $448.12 billion compared to its closest rival, South Africa whose present GDP is about $320 billion.
However, it’s worthy of note that the real wealth of any nation is calculated by its GDP per capita, and Nigeria ranks 140 out of 186 in GDP per capita global ranking.
Per capita GDP is a financial metric that breaks down a country’s economic value (output) per person, and is calculated by dividing the whole GDP by the country’s overall population.
In Economics, it’s widely accepted that technology is the key driver of economic growth of countries, regions or cities. Technological progress allows more efficient production of goods and services, in which prosperity depends on.
Technology brings skills, knowledge, process, technique, and tools together, toward solving problems concerning human existence, thereby making their life secure and happy.
It’s very pertinent in today’s world, because it is driving the global community as well as making it appear better. In fact, it is gradually becoming inevitable in our various homes, offices, and workplaces.
Nigeria’s tech patent has grown to be an envy of all who understands its real content. In terms of human and material attributes, it has over the years remains significant in the global society and market.
Take a walk round the world, you would comprehend that, most recent tech inventions and innovations across the globe were mainly as a result of contributions from Nigerians. Similarly, Nigerians remain the reason several countries’ tech sectors have grown beyond limits.
Ironically, Nigeria’s tech sector is presently nothing to write home about. As the days unfold, the sector continues to decline in its value, hence taking the country’s name to a state of ridicule.
Each day, the governments at all levels come up with empty promises and policies as regards tech-driven activity and innovation. The politicians at the country’s helm of affairs have unequivocally, over the donkey’s years, failed us in this regard.
The good news is that, in spite of the lingering hurdles and challenges, the prospects of the country’s tech value remain obviously great, perhaps owing to the fathomless resources lying fallow.
It’s worth noting that countless factors are behind the ongoing impediments in Nigeria’s tech sector. For us to get it right as a people, these barriers continually posing a threat must be severely tackled by the concerned authorities at all cost.
A certain tech-driven contract might be awarded by the government. In the long run, we would be greeted with a myriad of untold stories attributed to paucity of funds. In such case, it could be either the fund made available for execution of the project had been squandered or that insufficient fund was approved ab initio.
The steady economic fluctuation is another glaring factor that cannot be swept under the carpet. This particular plight has left Nigerians tech experts with no choice than to becloud their reasoning with uncertainties and fear of the unknown.
More so, those who – amidst the tough times – insisted on putting something together, would not find the apt market to sell their products or patents. This has continued unabated.
This could be as a result of infrastructural decay occasioned by lack of maintenance culture, or the required physical infrastructures have never been in existence from the onset. The cost of running a tech firm in Nigeria is too high, to say the least.