Ericsson to Build $19m Tech-Hub in Nigeria
Swedish telecoms giant, Ericcson Nigeria has announced its plan to build a $19m technology hub in Nigeria.
The company said the tech hub would target youths who wish to venture into the growing technology industry and hone their skills for the future.
Managing Director of the company, Peter Ogundele, made the announcement during the ongoing two-day business visit of Vice President Kashim Shettima to the Epicentre in Stockholms, Sweden.
He said, “Nigeria has enough youths who can come into that field. We can train them; Ericsson will also take part in it, and some of them we can export to the world, making us another India.
“Ericsson was the first to have over 1,000 sites in Nigeria and continues to invest in the country. We have been here since 1978, and for us, our partnership is an enduring one.”
Edgar Luczak, Chairman, Partner, and Head of Advisory at Epicenter, Sweden, assured Shettima that through collaboration, Nigeria and Sweden can build a stronger economy, create jobs, and ensure a future for generations to come.
“We hope to take this opportunity to launch an accelerated program that will not only follow in the footsteps of our excellent programs with the likes of Google, Microsoft, Singapore, and other countries but create our path to support Nigeria in its unique growth,” he added.
Reacting to the announcement, VP Shettima, according to a statement released by the presidency, said the current Nigerian government was undertaking bold reforms aimed at creating sustainable growth and a competitive environment for businesses to thrive and attract both foreign and domestic investments.
A statement by Stanley Nwokobia, media aide to the Vice President, quoted his boss as saying, “opportunities that abound in Nigeria, including the digital economy, agriculture, renewable energy, and MSMEs, among many others, pointing out that the nation is now an ambitious one, bound by the limitless potential of the Fourth Industrial Revolution.”
He stated, “Under the leadership of His Excellency, President Bola Ahmed Tinubu, the Nigerian government has introduced bold financial reforms, including the unification of exchange rates and the removal of fuel subsidies. Though challenging, these reforms are necessary steps in restructuring the economy for sustainable growth.
“The government’s ‘Renewed Hope Agenda’ emphasizes creating a competitive business environment that attracts both foreign and domestic investments. In parallel, our financial sector reforms, such as the revised Cashless Policy and Open Banking Framework, have revolutionized banking services, promoting financial inclusion and providing innovative financial products.”
He said that whether in finance, renewable energy, digital innovation, agriculture, or education, the partnership between Nigeria and Sweden portends immense promise, urging Swedish investors to seize the opportunities in Nigeria and work towards building a prosperous and sustainable future.
Gluwa Commits $100m to 30,000 Tech Youths
Meanwhile, it was gathered that VP Shettima’s visit to Sweden has garnered up to $119m investment for the Nigerian technology sector, with a promise of up to $100m digital wallet company, Gluwa.
Mr Akinola Jones, Director of Gluwa, said the company would be “committing $100 million across Nigeria” for the training of over 30,000 Nigerians in digital skills as part of its contribution to President Tinubu’s Renew Hope Agenda.
“We have a big vision for Nigeria,” Jones said, adding, “Our vision is banking the unbanked and connecting the unconnected. We see a situation where, once we launch our satellite in December this year, we can connect direct satellite to WiFi. This is going to be a very big win for Nigeria and a very big win for the technology ecosystem.
“We have given about $100 million in loans. It is not just about disbursing loans; it is not just about trying to grow portfolios; it is really about giving back. We are pushing for a lot of impact, and we are also working with the government and presidency to train people on digital skills,” he stated.
