Digital Economy Ecosystem: EU Engages Private Sector Investors

Nigeria’s digital economy ecosystem appears set for a reinvigoration following collaboration propositions from the European Union (EU).

The collaboration centres on ramping up investments to strengthen the Digital Economy Ecosystem, Head of Cooperation at the EU Delegation to Nigeria and ECOWAS, Massimo De Luca has said.

De Luca who spoke at a breakfast meeting with private sector operators, said the EU was ready to support Nigeria’s digital transition to a regional digital hub by helping to boost her digital infrastructure.

As a result, it has marshalled some interventions, including boosting the 3 Million Technical Talents (3MTT) scheme, the 90,000 km national fibre-optic expansion programme, improvement of digital public services, and up-skilling of the ICT workforce in the country.

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“Digital public services and digital entrepreneurship could also represent a good opportunity for the private sector, as there are many procurement systems that would allow both the EU and Nigeria private sector to be part of this journey in digital,” he said.

De Luca said the European Investment Bank (EIB) had thus far invested €100 million to boost 4G connectivity in Lagos and Ogun states, and that the union was providing technical support to the rollout of the 90,000 km of fibre-optic cable infrastructure across Nigeria.

“It also leads to improvement of the government interface with citizens and businesses, respecting high standards of privacy, safety and cybersecurity, while promoting an open internet and digital market. This creates opportunities for trusted vendors, he stated.

The National Identity Management Commission (NIMC) would also leverage the collaboration to enable digitalisation of her services, with an EU facility of €250 million.

Office of the Vice-President of Nigeria, billed for digitisation, would benefit from the EU’s technical support as well, just as the Federal Ministry of Communications, Innovation, and Digital Economy (FMCIDE).

“With support for the skills necessary for businesses and citizens to make the most of the digital transformation, there would be more technical talent to be channelled to the Nigerian economy.”

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On the development of skills for the emerging digital economy ecosystem, with a focus on youth and women, he said:

“This is partially achieved by the €9.5 million grant to DTC project and partially, through a €45 million grant to the NJFP, providing on-the-job training for young Nigerians and channelling talent to Nigerian and EU companies across Nigeria”.