Nigeria Open For Business, Tinubu Tells Meta

President Bola Tinubu has said his administration was sustaining investments in digital technology to enhance the sustainability of small businesses, expand opportunities across sectors, and propel Nigeria to become the lodestar of information and communications technology in Africa.

Speaking when he received a delegation from Meta Platforms Incorporated, led by Sir Nick Clegg, former UK Deputy Prime Minister and Meta’s President of Global Affairs, at the State House in Abuja on Thursday, the President, in a statement by Presidential spokesman, Ajuri Ngelale, said Nigeria cannot afford to be left behind in this age of technological advancements, hence, his administration was opening up channels of opportunities in information and communications technology (ICT), deepening capacity, and fostering partnerships.

Meta is the parent company of popular social media platforms – Facebook, WhatsApp and Instagram.

In view of his administration’s 3MTT programme, which is training three million Nigerian youths in digital technology and essential skills before deploying them to innovation hubs across the nation, the President emphasised that Nigerian youths were the most critical asset in Nigeria’s arsenal as it moves to achieve digital economic expansion.

“For us in Nigeria, we have a vibrant, gifted and resourceful youth population. Recognizing that the future is most likely to be AI-enabled, we have to prepare our youths and make them ready to compete and participate in the global economy.

“I can assure you that Nigeria is open for business. We want to lead the African continent in digital technology. Data is valuable to our development. We are ready to cooperate on technological advancements. It is the only way to go. We need a collaboration that will be a win-win for all,” President Tinubu said.

Emphasising the importance of technology in driving small businesses, the President said he was committed to ensuring that technology is deployed, adapted, enhanced, and used to catalyze growth across a vast majority of micro businesses, spurring mass prosperity down the line.

“What interests me is the use of technology in the development of small businesses. We need to make the business environment more conducive for you and more profitable for us as well. I hope we can collaborate and continue to promote our mutual interests,” President Tinubu told the delegation.

Earlier in his remarks, Sir Clegg thanked the President for an executive order he issued, which enabled the landing of the Meta-backed deep-sea cable in Nigeria.

“It is an extraordinary infrastructure project. When it comes on stream in the first quarter of 2025, it will be twice as much as the capacity of all subsea cables that exist. We buried the cable 50 percent deeper than any other subsea cables under the seabed. It is more powerful and more extensive in terms of its geographical connectivity. It could yield up to 37 billion dollars worth of increase in economic activity in the next two or three years across the African continent,” he said.

Sir Clegg also said Meta will introduce in June 2024 a feature on its Instagram app that will allow Nigerian creators to monetise their content to enable them to earn a living using the app.

“We have a lot to do with Nigeria to deepen partnerships,” he added.

For his part, Minister of Communications, Innovation and Digital Economy, Dr. ‘Bosun Tijani, said Meta platforms are critical platforms in Nigeria, and as such opportunities for partnerships and engagement are essential to promoting development in the digital economy sector.

“We must continue to engage to create opportunities for our people so they can also share in global prosperity. Digital technology is an opportunity to connect Africa to contribute to the development of the world,” the Minister stated.