To Grow Tech Space, U.S. Nigeria Council Links Corporates and Digital Innovators (September 2019)
NEW YORK CITY—On the margins of the 74th United Nations General Assembly (UNGA) in New York City, the U.S. Nigeria Council for Food Security, Trade, and Investment (USNC) convened a breakfast focused on strengthening Nigeria’s digital economy attended by the CEOs of Nigeria’s leading companies, the Honorable Minister of Industry, Trade and Investment, Executive Governors of Edo and Kwara States and leading entrepreneurs.
The USNC, a business organization dedicated to fostering commercial ties between the US and Nigeria, gathered members and more than 40 key stakeholders to discuss the deepening technology ecosystem in Nigeria and how it is well positioned for increased collaboration between entrepreneurs and corporates.
“Foreign investment is vital to building the technology ecosystem in Nigeria,” said Ambassador (ret.) Terence McCulley, Chairman of the USNC and Director of the Africa Practice at McLarty Associates. “We need to harness innovation to create long-lasting growth to continue to build a Naija Valley to rival that of Silicon Valley.”
The breakfast helped create a dialogue between leading entrepreneurs, corporate executives, and policy makers. “We must create the governmental environment that will help these technology start-ups flourish,” said H.E. Otunba Adeniyi Adebayo, Honorable Minister of Industry, Trade and Investment of Nigeria. “The government is helping to launch several technology hubs, and it’s important we put more resources into this.”
The developmental impact that technological innovation and corporate venture partnerships was central to the conversation.
“When we apply our minds to utilize innovation and technology to boost our goals in education and health, we will see great social returns,” said His Highness Muhammadu Sanusi II, the Emir of Kano and a former Governor of the Central Bank of Nigeria. “Three million children are out of school in the north of the country, but there’s not enough funding for schools and teachers. Digital innovation can help us think beyond the conventional ways to solve this problem.”
Increasing collaboration between corporates and tech entrepreneurs to stimulate economic growth is picking up steam in Nigeria. Dr. Emmanuel Okeleji, CEO of SeamlessHR, spoke about how his company is offering a full range of digital human resources and administrative services in an African context for corporations doing business on the continent. “We know doing business here is different from doing business in other parts of the world, so it’s important that our HR solutions are also context specific,” said Okeleji. “We are partnering with companies operating in Nigeria and beyond to make sure that their administrative burden is reduced.”
The growing desire for greater discussion and collaboration was evident throughout the event, but no more so than by the participation of many USNC members, including John Coumantaros, Chairman of Flour Mills of Nigeria, Jim Ovia, Chairman of Zenith Bank, Wale Tinubu, CEO of Oando, and a representative from Chevron. In addition to His Highness Muhammadu Sanusi II, the Emir of Kano, and H.E. Otunba Adeniyi Adebayo, Minister of Industry, Trade, and Investment of Nigeria, other notable attendees included H.E. Prince Clem Ikanade Agba, Honorable Minister of State for Budget and National Planning, H.E. Godwin Obaseki, Governor of Edo State, H.E. Abdulrahman Abdulrazaq, Governor of Kwara State, Bosun Tijani, CEO of Co-Creation Hub, Kola Aina of Ventures Platform and Nichole Yembra, Founder of The Chrysalis Capital.