Nigeria, Finland to Collaborate to Boost ICT Sector

Geoffrey Onyeama, Nigerian Minister of Foreign Affairs has said Nigeria will collaborate with the Government of Finland to grow the Information and Communications Technology (ICT) sector in the country.

Onyeama stated this in New York on the sidelines of the ongoing United Nations General Assembly (UNGA) during a bilateral meeting with the Minister of Foreign Affairs of Finland, Pekka Haavisto.

Onyeama highlighted that Finland is a country that is reputable in the field of ICT, noting that Finland needed to leverage on the emergence of Nigeria as an ICT hub to expand its market in Africa.

The minister said the Federal Government was desirous of promoting different kinds of investments in the country.

According to the minister “Finland is very strong in ICT and we believe that it will be a win-win situation if their companies invest in Nigeria. They can produce for the African market and take advantage of the African Continental Free Trade Area.”

Onyeama stated further that with a population of over 200 million people, with strong youth presence and favourable economies of scale, Nigeria was fertile and a preferred investment destination centre.

In his words: “There are no fewer than 54 or 55 countries in Africa and you cannot set up your businesses in all the countries because some of the markets are very small.

“Nigeria is one-fifth of Africa and a hub with over 200 million people and a youthful population. So, you need to set up in a natural market where you have local scales and level of capacity to produce.

“If you produce in Nigeria, you already have a guaranteed 200 million plus market. If you are producing for such a market, you as well produce for the other 1.2 billion people on the continent.”

Onyeama also said that Nigeria was one of the countries with the highest returns on investments, but noted that there were things that the country needed to further improve on to get the best partnership of western countries.

“Nigeria is an attractive investment destination for all these countries, but we just have to change the narratives.

“There are several things we need to do as a country. The ease of doing business has to be addressed to attract investments,” Onyeama added.

In his remarks, Minister of Foreign Affairs of Finland, Pekka Haavisto said Finland had always related well with Nigeria, adding that it was necessary to look into the future and find a way for greater collaboration.

Haavisto described Nigeria as one of the most stable nations in Africa, adding that the bilateral relationship with Nigeria will improve.