Experts Advocate For Tech-Driven Innovations To Build Nigeria’s Resilient Economy

Experts Advocate For Tech-Driven Innovations To Build Nigeria’s Resilient Economy

The Ibom Innovative Network (IIN) in Akwa Ibom State has highlighted technology and rapid innovation as crucial solutions to Nigeria’s current economic and environmental challenges……… CONTINUE READING

At a recent press conference in Uyo, Amanda Etuk, the group’s chairman, emphasized that despite the difficult operating conditions for businesses in Nigeria, technology, research, and industry can not only help businesses survive but also thrive. She stated, “Technology, startup enterprises, and rapid innovation are key to lifting Nigeria out of its economic downturn. The tech scene in Akwa Ibom is set to evolve into a major hub, potentially transforming the region into ‘Africa’s New Tech Destination.'”

Etuk acknowledged the harsh business environment but celebrated the progress of the Ibom Innovation Network, which has achieved notable success through initiatives like Akwa Ibom Tech Week and various ecosystem-wide programs.

Hanson Johnson, the president of IIN, noted that Akwa Ibom is becoming a significant tech hub, with its developer ecosystem growing at 29.7% month-on-month since March 2023, a rate comparable to Lagos. Johnson urged the government to support this growth by investing in infrastructure, education, research, and offering tax incentives, grants, and favorable regulatory frameworks to attract investors and support startups.

He also urged innovators to focus on sustainable solutions, diversify their revenue streams, and foster resilience through networking and knowledge-sharing within the community. “Innovators should prioritize sustainability, revenue diversification, and agility, while also engaging in community networking and knowledge exchange to build resilience,” Johnson concluded.