LOCAL DIGITAL PROVIDERS KEY TO NIGERIA’S DIGITAL ECONOMY – EXPERTS

Local digital service providers will play a critical role in the growth of Nigeria’s digital economy, industry stakeholders have said.

They said strengthening homegrown technology companies would help Nigeria reduce dependence on foreign digital services while creating jobs, supporting innovation, and keeping more value within the local economy.

The stakeholders noted that Nigerian digital providers have continued to develop solutions across areas such as financial technology, telecommunications, e-commerce, cloud services, cybersecurity, and digital payments.

They urged the government and private sector to create an environment that allows local technology companies to grow and compete effectively.

According to them, policies that improve access to funding, infrastructure, skilled talent, and government contracts could help local digital businesses scale their operations.

Experts also stressed the importance of using local technology solutions in public-sector digital transformation projects where suitable, arguing that this could strengthen domestic capacity and encourage further investment in the sector.

They said local providers also have an advantage in developing solutions tailored to Nigeria’s specific market conditions and the needs of its diverse population.

However, stakeholders warned that local companies must continue to improve the quality, reliability, affordability, and security of their services to compete with international providers.

They called for stronger collaboration between government, technology companies, investors, and educational institutions to develop the skills and infrastructure needed to support the digital economy.

The stakeholders said building a strong domestic digital ecosystem would be essential to ensuring that Nigeria captures more of the economic value created by its growing technology market.