FG launches initiative to drive tech exports

The federal government has launched the ‘Technology Export and Digital Trade Desk’ to attract more investments into the technology sector.

Bosun Tijani, minister of communications, innovation, and digital economy, announced the initiative on Monday.

According to Tijani, the initiative is a significant step in the ministry’s efforts to enhance the global competitiveness of Nigeria’s tech ecosystem.

“This Trade Desk marks a bold step in our commitment to increasing the technology sector’s contribution to Nigeria’s GDP from the current 14–18 per cent to 21 per cent within the next three years,” the minister said.

“Additionally, the Desk aims to amplify annual funding for Nigerian startups, scaling up from $1 billion to $5 billion over the same period, thereby fostering innovation, entrepreneurship, and global competitiveness.”

According to the minister, the desk, launched in collaboration with the federal ministry of industry, trade, and investment, is aligned with the fifth pillar of the ministry’s strategic blueprint.

Tijani said the desk represents an opportunity to promote Nigerian technology export and provides a strong foundation to offer bespoke support to local technology companies, enabling them to access and compete in markets across Africa and worldwide.

The minister added that the establishment of the trade desk would provide a comprehensive suite of programmes, partnerships, and policy-driven interventions.

“This also aligns with Nigeria’s ambition to improve its position in the Economic Complexity Index (ECI), showcasing the country’s commitment to diversifying its trade and advancing its position in the global digital economy,” Tijani said.

“This effort forms a critical component of the President’s overarching goal of achieving a $1tn Nigerian economy, underpinned by innovation, investment, and international trade.”

The ECI is a ranking system that assesses a country’s productive knowledge and the complexity and diversity of its exports.

Tijani further said funding from the initiative is expected to foster innovation, entrepreneurship, and global competitiveness within the sector.