Since the introduction of the Global System for Mobile Communication (GSM) landed in Nigeria in 2001, technology has grown leaps and bounds; In many circles in Nigeria, it extensively dominates in terms of adopting technological advancements in the country.

In 2019, for example, Nigerian tech startups led the continent with $663.24 million rounds of series funding. Fast forward two years later, and Opay – a payment processing startup, is the latest to receive a $400 million series funding to expand its business operations. With its valuation of $2 billion, the funding puts the company as the fourth technology company to gain unicorn status in Nigeria.

CHALLENGES

Through all these advancements and achievements in the technology space, there is still a lot to be said for the state of the technology space in Nigeria and the many challenges facing it. Some of the challenges which face the Nigerian technology space include;

• POWER

Startups or companies in the technology space in Nigeria are most likely to face this problem when they decide to put down roots somewhere in the country. The constant electrical power supply issue is not just a problem for the big startups but also the SMEs. Most startups either have to plan and account for backup generators or risk their business operation being disrupted by the poor power supply in the country.

• INTERNET ACCESS

The cost of internet access is a huge issue. The world came to a standstill last year due to COVID-19; the internet became a gateway for most businesses to reach their customers, work with colleagues, and keep in touch with their products and services. According to the RIA, when the drop in the value of the naira is factored into the cost of internet data subscription, it shows that there has been a 38% increase since ()

• GOVERNMENT POLICIES

When it comes to government policies in Nigeria, technology companies have been on the receiving end of many irregularities concerning the policies that govern it. A famous example that comes to mind is the Gokada story, where one policy essentially forced the company to pivot and change its business model.

• FEAR OF UNCHARTERED TERRITORY

The general consensus from the average Nigerian regarding new technology is fear. Due to the high rate of technology-induced fraud or scams, Nigerians have been conditioned to be highly suspicious of new technology. It is somewhat evident in the policies around technology. A good case in point is in the adoption of blockchain technology.

• SECURITY AGENTS

The harassment of employees and employers in the technology space by security agents who view any youth with a laptop or expensive gadget as a potential fraudster is one that ultimately led to the ENDSARS protest.

With a list that seems small but not extensive enough with the vast array of challenges faced in the Nigerian tech space. The question then becomes, what exactly are the possible solutions to some of these challenges?

Here are some of the possible solutions to the challenges facing the Nigerian technology space;

• PUBLIC SERVICE INFRASTRUCTURE

When internet access, electrical power, and rent, for example, are affordable and accessible, the ease of doing business goes up exponentially. This results in more profit for the company and better tax returns for the state. Public service infrastructure also helps to spring up new tech hubs in rural areas.

• SUSTAINABLE POLICIES

The policies surrounding technology in Nigeria need a severe overhaul; with the latest leak in the NITDA document, for example, it only shows that the policies still used to govern the technology space of the new generation are quite outdated. Policies should be made to support technological growth and not to deter it.

• RESEARCH AND DEVELOPMENT

A lot of input and investment should be made into researching about new technology and ensuring that developing these technologies is first and foremost in the mind of policymakers when it comes to technology. This will help reduce the fear amongst Nigerians as they will more or less be more accustomed to the technology and make adopting it faster.

• REGULATIONS

The case of the ban on cryptocurrency in Nigeria comes to mind. Regulating the space is a better solution than banning it as technology has a way of innovating around obstacles that might not be favorable to the government.

• RE-ORIENTATION OF THE PUBLIC

The depth of knowledge amongst the security agents concerning the legal job opportunities available in the technology space is one of the significant causes of harassment, alongside the economic situation in the country. They need to be made to understand that not all youths are involved in “yahoo.”