Nigeria loses $2.8bn to importation of foreign ICT products – Guardian

Barrister Adebayo Shittu, Minister of Communications, said that the federal government was ready to revalidate its directive on the patronage of locally produced ICT products and services by the Ministries, Departments and Parastatal (MDAs) as a means of promoting local content in the sector.

Shittu disclosed that Nigeria was losing about $2.8billion yearly to the continued importation of ICT hardware and ceding about 70 per cent of the country’s technology market to the foreign brands.

He decried the attendant capital flights from the country and apathy locally made products.

The minister what stated this at an event in Abuja, said that there will be no excuse for MDAs not to patronize indigenous ICT products and services because local content is vital in achieving the overriding mandate of economic diversification and empowerment of the ICT ecosystem in the country.

Read more at http://guardian.ng/business-services/nigeria-loses-2-8bn-to-importation-of-foreign-ict-products/