Where the Opportunities Are Right Now in Nigeria

Question: where do we have the most opportunity in Nigeria in the near future?

Response: ICT and broad technology sector.  ICT contributed just 1% to Nigeria’s GDP in 2001. Today, the number is 18.4%. What that means is that about 17% has been “eaten” by ICT in other sectors. As ICT grows, so are the opportunities in that domain. Read more here

• Event: Tekedia Capital Open
• Topic: The Abundance Is Here
• Date: Saturday, Aug 27, 2022
• Time: 4pm – 5pm WAT
• Zoom link (free and open) here

Interestingly, I will have a presentation titled “Abundance Is Here” as part of Tekedia Capital OPEN as we begin a new investment cycle next month. It begins at 4pm WAT today and it is free. The Zoom link is here

The sector’s growth has been reported to be largely driven by activities in the telecommunications sub-sector which contributed 9.49% to the nation’s GDP. Its contribution to nominal GDP for the second quarter of 2021 stopped at 12.12% which was lower than the rate of 12.22% recorded in the same quarter of 2021, but higher than the 10.55% it contributed in the preceding quarter.

In nominal terms, in the second quarter of 2022, the sector growth was recorded at 14.11% year-on-year, 14.18% points increase from the rate of -0.07% recorded in the same quarter of 2021, and 6.43% points lower than the rate recorded in the preceding quarter.

The quarter-on-quarter growth rate recorded in the second quarter of 2022 was 14.13%. The ICT sector in the period under review, recorded a growth rate of 6.55% in real terms, year-on-year. From the rate recorded in the corresponding period of 2021, there was an increase of 0.99% points.

https://www.tekedia.com/youre-invited-to-tekedia-capital-open-the-abundance-is-here-aug-27-at-4pm-wat-free/

Register for Tekedia Mini-MBA (Jun 3 - Sep 2, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.