The Nigerian technology ecosystem is hampered by a deficiency in digital infrastructure including but not limited to stable broadband internet and widespread mobile adoption that enables innovators to build and distribute their products and services. There is also a significant dearth of digital talent to build and scale domestic technological solutions thereby inhibiting the growth of the sector.
The NSIA established a US$200 million Innovation Fund to serve as a catalyst for developing the technology ecosystem in Nigeria, with a seed commitment of US$25 million from NSIA.
The Authority’s pioneer investment in the technology sector was for the development of the Kasi 20MW hyperscale data centre. The project sponsor, Kasi Cloud Nigeria Limited has identified Lekki, Lagos as the site of the first data centre and expects to set up more data centres nationwide in the near future.
NSIA is also in advanced discussions in respect of several partnership opportunities with leading global technology firms interested in the deployment of subsea cable systems, terrestrial fibre networks, technology cities/parks and training platforms.