With global investors and business leaders looking to Africa as the next region of transformative economic growth, Nigeria has been enjoying increasing attention in recent times.
Huawei Technologies has announced at a summit, the intention to position latest ICT technologies such as Internet of Things (IoT) and digital services in the Nigerian digital economy and other African countries.
Mckinsey estimates that IoT could have a total economic impact of $4trillion to $11trillion a year by 2025, stressing that Internet speed and affordability are still issues that plague the adoption of IoT.
It was noted in a newspaper that the ICT sector contribution to Nigeria’s GDP in the first quarter, overlapping January through March is N1.41 billion and N1.58 trillion in second quarter. By the end of third quarter, according to the data, it fell to N1.398 trillion as a result of recession.
The country is well positioned to benefit from trends such as rising demand from emerging economies, growing global demand for resources, and the spread of the digital economy as confirmed in a report by Mckinsey Global Institute.
The Managing Director of Huawei Technologies Nigeria, Tank Li, said “We project in the near future a digital economy that will bring about massive deviations in society. We simply have no way of knowing how deep and far-reaching these deviations will be. Nevertheless, we can be sure of one thing, that ICT will be the cornerstone of this digital economy”.
The global leading ICT solution provider, Huawai, is said to have invested over $6million in Nigeria, and established the Innovation and Experience Centre built on 500 square meters, including the data centre on the ground floor, to serve Nigerian customers.