{"id":29382,"date":"2023-05-29T11:36:44","date_gmt":"2023-05-29T11:36:44","guid":{"rendered":"https:\/\/appsaf.apieproject.com\/news\/?p=29382"},"modified":"2023-05-29T11:36:47","modified_gmt":"2023-05-29T11:36:47","slug":"nigeria-emerges-as-africas-fdi-hub-of-digital-technology","status":"publish","type":"post","link":"https:\/\/appsaf.apieproject.com\/news\/2023\/05\/29\/nigeria-emerges-as-africas-fdi-hub-of-digital-technology\/","title":{"rendered":"Nigeria Emerges As Africa\u2019s FDI Hub Of Digital Technology"},"content":{"rendered":"<p>\u201cThe Nigeria tech ecosystem has attracted about $4.4billion investment between the year 2015, 2019 and 2020 respectively, and ICT contributing to about 18.5% to the nation\u2019s GDP, and NITDA also supported about 753 start-ups in different ways through trainings, seed funding and grants,\u201d the director general of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, said.<\/p>\n<p>\u201cNigeria is thriving and has a vibrant tech ecosystem in Africa and almost 30% of all [FDI] into Africa ends in Nigeria.\u201d Inuwa made this statement at the \u20182023 Leaders Without Borders Annual Business Summit and International Honors\u2019 that was recently held in London.<\/p>\n<p>NITDA\u2019s efforts drive digital transformation, as 120 million Nigerians gain internet access and the tech sector attracts $4.4 billion in investments, contributing to 18.5% of the nation\u2019s GDP. NITDA empowers millions of Nigerians with digital literacy, training over 3.3 million individuals and saving the nation over N305 billion through efficient IT project implementation.<\/p>\n<p>The NITDA\u2019s chief also asserted that Nigeria\u2019s fintech businesses are almost twice as large as its largest bank. But, Nigeria\u2019s overall FDI plunged by 33% to $462.91 million, the lowest level since 2017, according to data from the National Bureau of Statistics (NBS) published last month. According to NBS, the total capital importation into Nigeria stood at $1 billion in Q4 2022, lower than $2.1 billion recorded in Q4 2021, indicating a decrease of 51.51%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria emerges as Africa\u2019s top destination for foreign direct investment (FDI), having reportedly attracted over 30% of the FDI in the continent\u2019s tech ecosystem and increasingly becoming the hub of digital technology in the continent.<\/p>\n","protected":false},"author":12963,"featured_media":29379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,21],"tags":[7,26,22],"class_list":{"0":"post-29382","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"category-technology","9":"tag-apie-project","10":"tag-news","11":"tag-technology"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 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