How is Nigeria adopting tech for entrepreneurship development?

The adoption of technology in Nigeria is seen as a crucial factor in helping the youth of the country develop their digital skills and drive entrepreneurship. Bumi Akinyemiju, the CEO and Co-founder of Venture Garden Group, recently joined CNBC Africa to discuss the impact of tech on entrepreneurship development in Nigeria. Akinyemiju highlighted the potential of Nigeria's young population and their natural affinity for technology as a key asset for driving innovation and solving societal challenges. He emphasized the need for guidance and support to capitalize on the tech wave sweeping across the country, where over $4 billion was invested in tech startups last year alone. The conversation delved into the urgent need to create employment opportunities in Nigeria, with the World Bank projecting a requirement for 30 million new jobs by 2030. Akinyemiju proposed a strategy for leapfrogging this challenge through entrepreneurship, talent development, and access to capital. By empowering young entrepreneurs to address local issues with tech solutions, Nigeria can transform its demographic dividend into a competitive advantage. He cited the success of companies like Andela as examples of how investing in talent and technology can drive economic growth and innovation. One initiative driving this agenda is the collaboration between Venture Garden Group and the US Consulate to establish the American Corner, a hub for business incubation and skills development. The American Corner aims to provide resources and programs that connect Nigerian youths with opportunities in innovation, education, and entrepreneurship. Akinyemiju expressed his excitement about the impact of the American Corner in equipping young people with the necessary skills and networks to contribute meaningfully to the economy. Looking ahead, Akinyemiju outlined plans for expanding the American Corner initiative and leveraging its strategic location near Vibranium Valley, a technology hub in Nigeria. He underscored the importance of integrating tech into traditional sectors like agriculture to make them more appealing and scalable for the youth. By combining technology with sectors like health, education, and entertainment, Nigeria can unlock new opportunities for growth and creativity. The interview concluded on a hopeful note, with Akinyemiju predicting a significant increase in tech investments in Nigeria, potentially reaching $8-10 billion in the coming years. He emphasized the transformative power of capital and the need for an enabling environment that supports innovation and entrepreneurship. As Nigeria's tech ecosystem continues to evolve, the focus on empowering youth and fostering a culture of entrepreneurship is set to drive sustainable development and economic prosperity.