The Federal Government has set a target to raise the contribution of the Information and Communications Technology (ICT) sector to the country’s Gross Domestic Product (GDP) from the current 18% to 21% by 2027.
The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, disclosed this yesterday at the opening of the Lagos edition of GITEX Nigeria 2025 conference and exhibition, where he also unveiled a ₦75 million research grant to fund 75 new projects in digital innovation starting October 1.
In his keynote address, Tijani urged global investors to see Nigeria as a prime destination for investment, especially in the startup ecosystem. He described Nigeria as Africa’s largest telecoms market, contributing between 16% and 18% to GDP, but stressed that the government is targeting 21% by 2027 through strategic partnerships, innovation, and expanded digital infrastructure.
Highlighting Lagos as a central driver of growth, Tijani noted that the state ranks among the fastest-growing cities globally, with its population expanding by over 2,000 people daily. He added that Lagos hosts the region’s largest technology hubs and is home to five to six of Africa’s unicorn startups, underscoring Nigeria’s leadership in digital innovation.
Beyond technology, Tijani pointed to Lagos’ role in powering Africa’s creative economy, citing Nollywood’s projected $15 billion valuation in the coming years as evidence of Nigeria’s growing influence across multiple sectors.
Tijani said the government remains committed to supporting homegrown innovation, with the ₦75 million research funding scheme set to back projects that advance digital transformation, emerging technologies, and creative industry growth.
He says the ₦75 million programme is designed to support researchers, startups, corporates, and diaspora innovators, with the goal of driving digital innovation and positioning Nigeria’s tech ecosystem for global competitiveness.
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