Vice president cites 5 points on how tech is making Nigeria tick

At the summit he discussed things that are making Africa work.

He highlighted how African countries are doing great stuff despite all the challenges faced.

These were the key things the Vice President of Nigeria made note of about how Africa and Nigeria’s progress with regards to technology.

Solar solutions

The power of solar renewable energy is being harnessed and shown to work at a village named Wuna in the Federal Capital Territory Abuja. This was a village that was before now shut out in darkness as soon as it was 7pm. The community members would go charge their phones with a businessman who ran generator.

The Nigerian government entered into a public private partnership with Azuri Technology to power domestic homes at N1900 a month.

With time, this should translate to every nook and cranny of Nigeria.

Independent power metering

The govt is now encouraging a willing buyer willing seller independent metering business asides that to come from the distribution companies (DISCOs). Customer directives was issued by the National Regulatory Commission in August 2017 while the independent metering directive will be issued this October 2017.

On Agriculture strides

A successful Mexican banana and pineapple farmer is partnering with Nigerian farmers to replicate his success on the black continent. With plans to initially export, the investors soon realised there was no need for that as local demands was yet to be met 100%. Without a doubt, mechanised farming is the engineering driving force for the agricultural inputs and successful outputs.

On technology enabling business

Mr Osinbajo recognized the African businesses doing wonderful things with the enabling of technolgy

“But If I were a betting man I would surely put my money on African businesses that demonstrate an awareness of how technology will be an exponential catalyst for business,” he said.

He sighted companies like Konga(the online mall), Jobberman (the online human resource connect platform), Flutterwave (payment solutions company, and Andela a software development engineering company).

“These companies are strong examples of how young African entrepreneurs are using technology disruptively to create profit in various business lines. And evidently, smart money all over the world is paying attention.”

Technology driven processes by government

As part of the ease to do business reforms, Prof. Yemi Osinbajo highlighted some eight areas under the 60-day national action plan which include leveraging technology in:

- Fast tracking business registration

- Payment of taxes

- 48 hour electronic visa procedure,

- Registering of property

- Obtaining construction permits

- Getting credits

- Trading across borders,

- Facilitating entry and exit of people etc

In summarizing the keynote address, Osinbajo pointed out three factors Africa has learnt in the past few years: first diversification from resource based revenues, second, private sector and markets are key and third, creating the right environment is not optional.

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