Stakeholders reiterate need for development of local content in the financial sector

Stakeholders in the Information and Communications Technology (ICT) have reiterated the need for the use of Nigerian software in the financial sector.

They made this call at the ongoing stakeholder’s roundtable on the use of Nigerian software in the financial sector, with the theme:”Adoption and Development of Local Content Technology as Growth Driver for the Nigerian Economy”, holding in Lagos.

Dr Dan Ibrahim Azumi, DG, National Office for Technology Acquisition and Promotion (NOTAP) While speaking at the event said that their objective is to promote awareness for the development and utilization of local Technology Solutions in various sectors of the Nigerian economy.

According to him, “our objectives are to promote awareness for the development and utilization of local Technology Solutions in various sectors of the Nigerian economy, to discuss the challenges confronting the local Technology Solution Providers, identify specific areas where NOTAP and NITDA can intervene to create an enabling environment to enhance local vendorship.

“And also to identify companies with high demand for software Solutions developed in Nigeria, provide a platform for linking local software suppliers to end-users as an avenue to create and generate employment , income and wealth in Nigeria.”

He decried the huge sums of money being remitted out of the country without the foreign ICT owners assisting local partners to develop its knowledge base, capacity and intelligence as required by the terms of the agreement entered into.

He urged Nigerians not to be under any illusion that foreign firms are here for the development of our country, stressing that we need to be strategic to leverage on the available foreign technologies to ensure inclusive and sustainable growth of our country.

Speaking earlier, Dr Ogbonnaya Onu, Minister of Science and Technology, said that the Federal Government of Nigeria is emphasising on local participation in the execution of government contracts so as improve local content in national socio-economic development.

Dr Onu, who was represented by Prof. Gloria Elemo, Director General, Federal Institute of Industrial Research (FIIRO) said that the Economic Recovery and Growth Plan (ERGP) of the Federal Government of Nigeria led by President Muhammad Buhari is an developmental initiative focused on restoring growth, investing in people and building a globally competitive economy.

He noted that Executive Order No. 5 was signed by Mr President on February 2, 2018 with focused on the development of local content in Science, Engineering and Technology (SET).

According to him, “Mr President directed all MDAs of government to engage indigenous professionals in the planning, design and execution of national security projects with the intention to maximising the in-country capacity and capability in all contracts and transactions with SET components, utilizing Nigeria human and material resources in the planning and execution of Nigerian projects.

“The Order directed that all procurement entities of the FGN shall give preference to Nigerian companies in the award of contracts for major projects in SET and where local expertise is not available, Nigerian company shall enter into consortium with relevant foreign firms.

Director-General of NITDA, Dr Isa Pantami, who was represented by Dr Chris Okeke said the country saved N13 billion from 2018 up till now due to the ban of foreign techs and the use of local contents. The amount is up from the N5 billion previously recorded.

He said the policy was boosting ICT, the economy, the gross domestic product and helping diversity in revenue generation. He also said about 95 per cent of government websites are now hosted locally.