A total of $178 million in 166 investment deals were closed by technology companies in Nigeria in 2018, according to National Information Technology Development Agency (NITDA).
Mr. Kashifu Abdullahi Inuwa, director general, NITDA, expects the figure to rise further this year as more foreign investors ogle the potentials available in the country.
Inuwa, said, “The technology ecosystem raised $178m in 166 deals in 2018, and the figures are rising in 2019…The Nigerian tech ecosystem has produced three companies valued for more than $100m, including the only African “unicorn” (Jumia), valued at over $1bn.
“The country had the highest investment in Africa. We therefore invite you, our potential investors, to take advantage of this massive talent pool as you invest in Nigeria.”
He further said Nigeria was not oblivious of the numerous challenges facing it, but that there were equally fantastic innovations coming out of it on daily basis.
He added that through regulatory activism, Nigeria’s ICT sector was creating unprecedented investment path for local and foreign investors
