Nigeria needs tech, innovations for resilient economy – Experts

A community of innovators in Akwa Ibom State under the umbrella of Ibom Innovative Network, (IIN) have identified technology and rapid innovation as a panacea to the current economic and environmental crises bedevilling Nigeria.

During a press conference in Uyo, over the weekend, the chairman of the group of innovators, Amanda Etuk said although it was almost unbearable for businesses to survive given the operating landscape in the country; with technology, research and industry; businesses would not only pull through but become resilient.

According to her, “Technology, startup enterprise and rapid innovation will pull Nigeria out of the current economic slope she has found herself. The tech landscape in Akwa Ibom State, Nigeria, is poised to transform a nascent ecosystem into a resilient, thriving and innovative powerhouse for what is now known as “Africa’s New Tech Destination.

“We note that the operating landscape in the country and the region is almost unbearable for businesses to survive. However, as innovators, we are consistently finding better ways of getting things done with technology, research and industry. While we note the tough economic climate, we are also celebrating the remarkable achievements that Ibom Innovation Network has recorded through Akwa Ibom Tech Week and her other ecosystem-wide programmes and interventions.”

The president of IIN, Hanson Johnson in his speech said Akwa Ibom has emerged as a hub for tech enthusiasts and professionals, with a developer ecosystem growing at 29.7% month-on-month since March 2023 stressing that the growth rate rivals that of Lagos.

Johnson called for government support through investment in infrastructure, education, and research, along with tax incentives, grants, and regulatory frameworks to encourage startups and attract investors to foster a resilient innovation ecosystem in the state.

He also called on innovators to focus on sustainable solutions, diversify revenue streams, networking and knowledge-sharing within the community to foster resilience.

“Innovators should focus on sustainable solutions, diversify revenue streams, and embrace agility. Networking and knowledge-sharing within the community foster resilience,” Johnson emphasized.