Nigeria's future as the next frontier for economic opportunities, according to Osinbajo, will be determined by tech startups.
This was mentioned by the Vice President, who was represented by Mallam
Kashifu Inuwa Abdullahi, Director General, National Information
Technology Development Agency (NITDA), at Google's virtual Startup and
He described the subject – The African Start-up Ecosystem Opportunity – as exciting because the startup ecosystem is crucial to Nigeria's and Africa's futures.
“The countries that captured maximum value from the 3rd industrial revolution have become more prosperous and built solutions that improved service delivery in all aspects of lives, from education, healthcare and food production to efficiency and speed in manufacturing” He said.
“The first factor is innovation capacity, and the second one is entrepreneurial capacity. Both capacities depend on four key indicators: human capital, infrastructure, funding and demand”.
According to the Startup Genome survey, Lagos has the continent's most valuable startup ecosystem, with 400 to 700 active startups valued at more than $2 billion, with fintech being the most prominent in the Lagos technology startup ecosystem.