Nigeria to benefit from $50m Start-Up investment says Pantami


About 50 million dollars foreign investments has already been attracted into the economy for the support of various start ups in the country through its digital economy and innovation policies.
So says the Minister of Communications and Digital Economy, Dr Isa Ibrahim Pantami while speaking with news men in Dubai, United Arab Emirates during the unveiling of Nigeria Pavillion at the on going 40th Gulf Information Technology Exhibition, (GITEX 2020).
Dr Pantami who noted that the journey of start ups has been tough, urged them to be consistent and steadfast as the breakthroughs come after several years of trials.
He said Nigeria was not lacking in terms of innovative ideas, pointing out that it is the plan of the government to identify the challenges confronting the start-ups and assist them.
The Minister noted that start-ups in Lagos and Abuja have really made Nigeria proud as they keep attracting foreign investments into the country and pointed out that mentoring has been a challenge adding that start ups needed to be mentored as they cannot be successful on the platter of gold without mentorship.
Dr Pantammi noted that the main challenge was not about funding but mentoring hence the need to focus now on mentoring the young start ups in Nigeria and provide enabling environment for them to strive.
Dr Pantami said Amazon became a global brand with huge profit today after several years of trials and failures, expressing confidence that Nigeria start ups which attracted the 50 million dollars investments give hope that the future would be bright for the country.
In a remark, the Director General of National Information Technology Development Agency, NITDA, Mallam Kashifu Inuwa Abdullahi said about 10 Nigerian start ups would be showcasing their innovations in Dubai at the on going GITEX.
Mallam Kashifu Inuwa Abdulahi added that the reason for sponsoring the startups to compete at GITEX is to market the Nigerian start ups to out side world to attract investors and exchange of knowledge.
He reiterated the commitment of NITDA to continue encouraging all Nigerians to invest and participate in efforts that would boost innovation and digital economy in the country.
The 40th edition of Gulf Information Techmology and Exhibition , GITEX Technology Week, the only major in-person technology event going on live in 2020 has opened in Dubai, United Arab Emirates from 6th-10th December.
The program which is being hosted in full compliance with Dubai Government regulations as well as the guidelines of the Dubai Health Authority and Dubai Municipality attracted 1,200 exhibitors from over 60 countries, as well as a conference lineup of over 350 in-person speakers who are flying into Dubai from 30 countries to discuss the latest developments in deep-tech areas such as 5G, Artificial Intelligence, Data Analytics, Cybersecurity, Cloud and Edge Computing, Digital Economies, Future Mobility and Blockchain.
GITEX also showcases from innovative nations, including Bahrain, Belgium, Brazil, France, Hong Kong, Israel, Italy, Japan, Nigeria, Poland, Romania, Saudi Arabia, the United Kingdom and the United States of America, among others.
GITEX Technology Week will serve as an umbrella event for the region’s leading technology shows, including GITEX Future Stars, the region’s largest tech startup event; the Gulf Information Security Expo and Conference (GISEC).