Nigeria’s greatest asset is not under the ground, but in classrooms, co-working spaces, and innovation hubs, but must be nurtured, protected and invested to boost the economy and indeed export solutions to the world.
Malam Kashifu Inuwa, CCEI, director-general, National Information Technology Agency (NITDA), stated this in his keynote address at the Lagos Future Conference 2025, organized by DigiVation Networks Limited on Saturday, June 14, 2025 at Oriental Hotel, Lagos.
The DG said that with such construct in mind, the time for investors, policymakers, and industry leaders to double down on innovation is now.
“Let’s build ecosystems that are inclusive, competitive, and globally relevant”, he said, adding that theme for the conference: ‘Future-Forward – Harnessing the Power of Youth, Innovation, and Technology for National Economic Growth’, embodies vision, ambition, and possibility.
Speaking through Dr. Aristotle Onumo, director of Stakeholder Management & Partnerships at NITDA, the DG said that the future belongs to nations with tech-ready youth.
In his words: “Nigeria stands today as one of the most youthful nations in the world. According to the National Bureau of Statistics (NBS), over 70% of our population is under the age of 35, representing an incredible demographic dividend that, if properly harnessed, can drive unprecedented economic growth.
“Globally, youth are the drivers of innovation. A report by the World Economic Forum (WEF) notes that 60% of the jobs that will exist in 2030 do not exist today, and these jobs will be powered by digital technologies. In Nigeria, our youth have already demonstrated resilience and creativity — from fintech innovations like Flutterwave and Paystack to global tech talents powering startups and global enterprises.
“At NITDA, we see these young Nigerians not just as beneficiaries of technology but as architects of our future digital economy.
“Across the tech hubs of Yaba, the software labs of Abuja, the innovation clusters of Kaduna, and the blockchain communities of Port Harcourt, we are seeing young Nigerians build startups, design world-class solutions, and challenge outdated systems. In 2024 alone, Nigerian startups attracted over $1.2 billion in venture capital funding, placing Nigeria firmly as the leading tech ecosystem in Africa.
“But what’s more important than the funding is the spirit: the audacity to dream, to build, to reimagine.
“These young Nigerians are not just users of technology—they are creators, pioneers, and increasingly, global competitors”.
Speaking on the the role of innovation and technology, he said, “Innovation today is no longer a luxury—it is a necessity. And technology is not just a sector—it is the backbone of every sector.
“From agriculture to healthcare, finance to education, governance to security, technology is disrupting old models and enabling new paradigms”.
According to McKinsey, digital technologies could add over $300 billion to Africa’s GDP by 2025, with Nigeria projected to contribute significantly to this growth—if we make the right investments and policy decisions.
The DG NITDA also said the Fourth Industrial Revolution — driven by Artificial Intelligence, Big Data, Blockchain, Internet of Things (IoT), and Cloud Computing — is reshaping the global economy.
“Today, Africa’s tech startup ecosystem attracted over $4 billion in funding in 2023 according to Partech, with Nigeria accounting for nearly 30% of this investment — more than any other country on the continent.
“Our startups are solving real-world problems — from healthcare access, financial inclusion, to agriculture productivity. These are the innovators who are building Nigeria’s economic resilience and global competitiveness”, he said. “NITDA, under the supervision of the Federal Ministry of Communications, Innovation & Digital Economy, is fully committed to creating an enabling environment for innovation to thrive”.
In reference to the global digital economy projected by the International Data Corporation (IDC) to reach $23 trillion by 2025; Nigeria’s own digital economy contributing about 18.44% to our national GDP as of Q2 2024 (NBS report), surpassing the oil and gas sector for the first time, and the GSMA report which shows Nigeria is expected to add over 40 million new internet users by 2025, further expanding digital opportunities, the DG said “In today’s world, no nation can grow its economy without embracing technology’.
“We are witnessing rapid growth in sectors such as fintech, e-commerce, healthtech, agritech, edtech, and more. For example, Nigeria’s fintech sector processed over $800 billion worth of transactions in 2024, creating jobs and attracting foreign direct investments.
On the path forward, he said “the future belongs to nations that empower their youth, incentivize innovation, and embed technology across governance and industry.
“This is why being future-forward is not just a buzzword—it is a strategic imperative. It means: Investing in digital education at all levels, so that every child in Nigeria, regardless of location, has access to 21st-century skills; creating safe and enabling environments for startups—through regulatory sandboxes, tax incentives, and access to capital; building tech infrastructure not just in cities, but in rural areas—so innovation is democratized, and ensuring that women and girls are fully included in the digital economy—because no nation can grow by leaving half its population behind”.
“We must stop exporting talent only. We must also export solutions—Nigerian-built platforms, AI tools, fintech models, agritech innovations—that solve African and global problems”, the DG said.
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