The Federal Government is hoping to deepen contributions of the information and communications technology (ICT) to the country’s Gross Domestic Product (GDP) from the current 18 per cent to 21 per cent by 2027.

The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, stated this yesterday, at the opening of Lagos Edition of GITEX Nigeria 2025 conference and exhibition.

Tijani, in his keynote address, rallied global investors to Nigeria, saying the country is ripe for investments, especially within the startup ecosystem.

According to him, Nigeria is the largest telecom market in Africa and currently contributes between 16 per cent and 18 per cent to GDP, “but we are targeting 21 per cent contribution from the ICT sector by 2027”.

Tijani, who called on global investors to see Nigeria as a new investment destination, stressed the importance of the Lagos ecosystem, saying the state is seen as one of the fastest-growing cities in the world.

According to him, about 2000 people are added daily to the Lagos population.

Tijani said that despite the challenges, five to six of Africa’s unicorns are actually from Nigeria. He added that the state is home to the largest technology hubs in the region.

Outside the tech ecosystem, he said the state has enabled Africa’s creative heartbeat, the Nollyhood, where about $15 billion is projected to be created by the creative economy in the coming years.

He disclosed that starting from October 1, the Federal Government will fund 75 new research projects in digital innovation under a N75 million scheme.

Tijani said the N75 million initiative is targeted at researchers, startups, corporates and the Nigerian diaspora, with the aim of deepening participation in digital innovation and building a resilient ecosystem capable of competing globally.

In his address, Lagos State Governor, Babajide SanwoOlu, said the Lagos technology ecosystem is fast becoming phenomenal, saying that in the last five years over $6 billion startups funds have entered the state.

SanwoOlu, who described it as an honor and mindsetting goals for the state to host the event, said people across the globe defied the challenges of the environment to be in Nigeria, specifically Abuja and Lagos.

“A state of between 20 million and 22 million strong people with all tribes represented. The diversity of the state fuels startup ecosystem growth with over $6 billion startups funds entered the state in the last five years. We can also boast of hyperscale data centres, increased fibre infrastructure and landing of submarine cable systems.

“Today, 70 per cent of tech economy gains coming to Nigeria are sitting in Lagos. We believe that governance in the 24th century must be digital,” he stated.

According to him, the state is ready to further support the ecosystem by ensuring an investment-friendly environment, stabilized by policies.

Speaking, the Director-General, National Information and Technology Development Agency (NITDA), Kashifu Inuwa Abdullah, Nigeria, is the crucible of development.

According to him, Nigeria has started a journey that will ensure that it builds solutions that will help startups scale up by as much as 10 times.

“As a nation, the vision is clear; economic diversification and infrastructure development. So many disruptions are going to emerge from here. Investors should come to Nigeria, though we can do it “without you, but we should do it together.”

On her part, Lohmirmand, Nigeria, is ranked as one of the fastest-rising and growing Fintechs in the world. She added that Nigerians scale with resilience, not just capital.

“Nigeria is global, they beat countries like Mumbai, Turkey and many more countries with Fintechs and startups,” she stated.