Indian investment in Nigeria’s IT industry climbs to N7.2trn

Mr. Mahesh Sachdev, High Commissioner of India to Nigeria

Bilateral trade agreement between Indian information technologies companies and Nigeria is set to be expanded to over $46 billion, about N7.25 trillion.

Over 20 Indian Information Technology (IT) companies would be attending the 2012 edition of Information Technology Association of Nigeria (ITAN) and National Association of Computer and Software Companies of India (NASSCOM) Business Summit slated Monday September 24, 2012.

DigitalSENSE News learnt that Indian government had made a promise to invest hundreds of millions of dollars into African initiatives and training centered on Information and Communication Technology (ICT).

According to the Indian High Commission in Nigeria, the promise entails a $5 billion line of credit for all economic activities.

The organisers of the summit, ITAN and NASSCOM jointly affirmed that the summit is in line with the nation's transformation agenda for the ICT sector while also helping the associations in building international partnership to help the local industry.

ITAN president, Mrs. Florence Seriki noted that this year's theme is "Empowering and Resuscitating Local IT Entrepreneurs via Local Content Development and Funding."

Mrs. Seriki disclosed that the objective of the yearly summit is to create an avenue for sustaining a platform for the local ICT organisations in order to synergise and collaborate among key international ICT players.

The summit, she also said, enables the promotion and enhancement of the Nigerian ICT industry with other relevant stakeholders.

She listed some key speakers at the forum to include the President of NASSCOM, India, Mr. Som Mittal and the Managing Director, Bank of Industry Nigeria, Mrs. Evelyn Oputu, while Communications Technology Minister, Mrs. Omobola Johnson is the special guest of honour.

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