By kester Omu
The Nigerian government has again stressed the need why it is considering the promotion and subsequent establishment of Information and Communications technology development bank, saying the bank will provide the needed funding for the ICT industry instead of depending on commercial banks which charges high interest rate.
The Minister of Communications, Barr. Adebayo Shittu disclosed this yesterday in his Keynote Address during the INDO-AFRICAN ICT EXPO 2017, held at the Eko Hotel-Lagos.
In his words: “The Ministry of Communications is thinking of promoting an ICT Development Bank to assist in providing the needed funding for the ICT industry instead of depending on commercial banks which charges high interest rate”.
The Minister argues that at this stage of Nigeria’s ICT ecosystem, where it is contributing hugely to the country’s GDP, wisdom dictates that a specialized bank to cater for the development of the sector, especially the Small and Medium Enterprise is necessary.
Apart from the envisaged ICT Development Bank, Shittu noted that the Ministry has reached an advanced stage for the establishment of a befitting ICT Park and Exhibition center in Abuja. This move, he believes will help to develop Nigeria’s ICT sector towards achieving a Smart Digital Nigeria.
